The MYM Interview: Anne Fritz From The Jet Set Girls

Anne Fritz, Jet Set Girls

Anne Fritz, Jet Set Girls

I met Anne two weeks ago, and since she reads my twitter feed, she knew about Make Yourself Mortgageable. Coincidentally, she just closed on her apartment.

Are you a first time home buyer?
Yes!

What neighborhood did you buy?
Inwood

Did you do 100% financing?
No–I put 20% down.

Any unexpected surprises during the closing process?
Our closing was delayed once, which means I had to pay to extend my 60-day rate lock. On my lawyer’s advice, I did negotiate before confirming my rate lock with my lender to split the extenstion fee (A total of $600, so I saved $300).

My walk through the night before our closing, which was at 2 pm the following day. The seller still hadn’t moved out all of her items. She assured me she would. When I went to the apartment immediately after closing, she had left a mountain of crap there (we’re talking her son’s dirty socks and boxer shorts, dog food still in the bowl, a towel in the shower). Our lawyer has negotiated a small settlement for us, but I do wish I would have gone to the apartment immediately before closing.

How long was the process (from when made an offer to when you closed)?

Just shy of four months.

What’s the one tip you would pass on to anyone who is buying right now?
Buy now! It’s a great time to be a first time buyer with home prices low and interest rates low. Don’t wait for home prices to drop, because interest rates are starting to rise. Even a quarter point rise in interest rates can have a significant affect on your monthly payments.

What do you love most about owning your home?
It hasn’t quite sunk in yet that I own (it has only been a week). It’s weird thinking I own a refrigerator and dishwasher now. But I look forward to making small improvements (like painting, swapping out door handles) that will boost the value of my home and having it the way I like it.

August 5, 2008. Tags: , . interview, new york City. Leave a comment.

The MYM Interview: Colette Prosper

Flatbush House, originally uploaded by nichellest.

My friend Colette and her fiance just closed on July 30 on a beautiful house in Brooklyn.

Are you a first time home buyer?
Yes.

What neighborhood did you buy?
Flatbush.

Did you do 100% financing?
No.

If you don’t mind answering, what percentage was your down payment?
20%

Any unexpected surprises during the closing process?
The broker who was a MAJOR dick throughout the entire process actually put some money in escrow for us for an ancient boiler that needs fixing.

How long was the process (from when made an offer to when you closed)?
We made our offer back in mid May and did not close until July 30. The bank was incredibly slow in giving us approval and then they took forever to finally clear us for closing.

What’s the one tip you would pass on to anyone who is buying right now?
Get a good lawyer. Mine was Rashidah Siddiqui at Serpico, Serpico, and Siddiqui on Court Street in BK.

What do you love most about owning your home?
Having a backyard. We bought a limestone (a light-skinned brownstone) in Flatbush for a steal. Please buy in Flatbush, people so you can get a backyard too!

August 1, 2008. Tags: , . interview, real estate. Leave a comment.