Friday, August 29, 2014

Listen to Andrew Lieb Discuss Real Estate Tips for Hampton Purchasers on 88.3 FM Today

Andrew Lieb Shares Real Estate Tips on 88.3FM today at 5:50pm
Tune into 88.3FM (WPPB Peconic Broadcasting) for Realife with John Cristopher from Brown Harris Stevens.

Today's Line Up of Guests:

5:30pm: Cia Comnas, Executive Managing Director of Brown Harris Stevens discusses the "hot" areas in the Hamptons and what it takes to be a successful agent in the Hamptons.

5:40pm: Greg Heym, Chief Economist for Terra Holdings enlightens us about the recent release of data for the numbers in the City and here in the Hamptons.

5:50pm: Andrew Lieb, Esq., owner of Lieb at Law and Lieb School wraps up Realife as he shares some of his secrets that a buyer should know before they purchase a home in the Hamptons.

http://peconicpublicbroadcasting.org/programs/real-life-wppb

Tuesday, August 26, 2014

Tips to Avoid a Lawsuit While Getting Home Improvements (Andrew Lieb's Latest Articles)


Andrew Lieb shares secrets to avoid litigation while getting home improvements in the Huffington Post and Dan's Papers.   Full Article 

If you plan to do a home improvement project, there will certainly be enough on your mind without having to worry about the legal issues. 

Here is your reference guide to avoid litigation while getting the job done:

Monday, August 25, 2014

Historic Storm Prompts Town of Brookhaven to Initiate Flood Relief Efforts

On August 1st, record setting rain doused Long Island causing extensive flood damage. The Town of Brookhaven has been working with the New York State Division of Homeland Security and Emergency Services to perform damage assessments for residents in affected areas. Damage assessments are an effort to qualify victims for federal or state funding or special programs. Supervisor Ed Romaine has asked the federal government to provide FEMA assistance to storm victims and has vowed to push County, State and Federal officials to provide assistance to storm victims.  The Town has estimated $10-15 million in damage to private homes as a result of the torrential rain. Additionally, an estimated $15 million in damage to our roadways has been estimated by the Town Highway Department. Although the South Shore of Long Island sustained very little damage, some North Shore communities that were hit hard by Superstorm Sandy, now have another storm to clean up after. So far, the Building Department has inspected more than 75 homes and deemed nine uninhabitable.

Residents who feel that their homes may have sustained structural damage from the storm are urged to call 631-451-TOWN (8696). An inspector will be sent to their home to assess the damage and determine if the home is safe to occupy.

For insurance related issues, residents should call 1-800-339-1759 to speak directly with representatives from the New York State Department of Financial Services.

As of Wednesday, August 20th, a “211 Hotline,” originally activated after Sandy, will be implemented again to assist residents with the clean-up in their flood damaged homes.

Residents with large amounts of debris from flood clean-up should call 631-451-TOWN to schedule pick-up from the Town’s Department of Waste Management.

Should I get solar? Not yet, transparent panels are the future

Transparent solar panels may be here sooner than you think.

Accordingly to Slash Gear, a team at Michigan State University has developed "a transparent luminescent solar concentrator which looks clear to the eye but can still harvest energy from wavelengths of light invisible to humans". Unfortunately, the team has not achieved panels that are efficient enough for use on your home just yet, but it seems that great strides are being achieved relatively quickly.

So, before you say yes to solar panels being placed on your roof, maybe you should just wait a few years to redo your sunroom with transparent solar panels and generate some power in the process.

Monday, August 18, 2014

FREE public seminar - HOMEOWNERS' INSURANCE


The Nassau County Bar Association and the Nassau Academy of Law Invite You to Attend

Protecting Home & Hearth
Home Insurance Everyone Needs

Monday, September 15, 6:30 p.m.

Nassau County Bar Association (Mineola)


Speakers:
Andrew Lerner, CIC, The Lerner Agency
Charles Licht, Public Adjuster
Michael A. Markowitz, Seminar Chair

To Register:
516-747-4070 or email ckatz@nassaubar.org



Friday, August 15, 2014

Andrew Lieb discusses Broker Commissions today on Real Life WPPB 88.3FM

Andrew Lieb Shares Real Estate Tips on 88.3FM today at 5:50pm
Tune into 88.3FM (WPPB Peconic Broadcasting) today (8/15) for Real Life with John Cristopher from Brown Harris Stevens.

Today's Line Up of Guests:
  • 5:30pmAspasia Comnas, Executive Managing Director of Brown Harris Stevens discusses the community spirit that exists in the Hamptons and her participation in Escuela de Samba Boom.
  • 5:40pmJesse Matsuoka, owner of Sen restaurant in Sag Harbor talks about the Hamptons but also his time in Japan and witnessing the greatest Sumo wrestling match of the century.
  • 5:50pmAndrew Lieb, Esq, owner of Lieb at Law and Lieb School discusses broker commissions and how sellers can be responsible for owing more than one commission. 
You can listen live on the website too:

Wednesday, August 13, 2014

Thursday, August 7, 2014

New Pressure for Lenders to Negotiate in Good Faith


If you are a struggling homeowner and have sought relief via a loan modification, there may be new pressure on lenders to negotiate a modification. Last week, New York’s Appellate Division, Second Department, ruled in US Bank N.A. v  Sarmiento that Wells Fargo, a well-known lender, could not collect interest or fees on a loan that had accrued while a borrower, Sarmiento, pursued a loan modification. Sarmiento attended 18 settlement conferences and remained persistent in obtaining a loan modification yet the decision indicates that Wells “delayed and prevented any possible resolution of the action.” Wells is cited for various delays and miscommunications which when considered wholly, led to the determination by the court that Wells failed to negotiate in good faith. This court decision yielded a long-awaited definition of “good faith” with regards to negotiations in foreclosure conferences.  The court concluded that Wells’ conduct indicates a “disregard for the settlement negotiation process” which increased the balance on Sarmiento’s loan.

This decision gives hope to borrowers frustrated with the often drawn-out process of obtaining a loan modification. If a lender loses documents, repeatedly requests the same information, fails to review the application in a timely manner, denies an application without adequate grounds or deliberately or recklessly delays the process in any way, a borrower now has the option to demonstrate the lender’s failure to negotiate in good faith. This could translate to thousands of dollars lost in interest and legal fees for lenders.


Hopefully, this will put pressure on lenders to remain timely and organized in their evaluation of a borrower’s loan modification application for if they don’t comply with good faith guidelines, they could be at risk to lose a great deal of money. But remember, “good faith” is a double edged sword, as borrowers must also negotiate in good faith by putting forth a purposeful and honest effort at a settlement conference to reach a resolution.

Tuesday, August 5, 2014

Developing Air Rights

Read this terrific article - Want to buy some air? Some cities have plenty to sell - to appease your interest in air rights and development.

2 Takeaways:
a) Developing a deck (the platform in the air where development happens) to build upon is quite expensive; &
b) Financing is limited as there are minimal real property rights associated with air rights, which can be foreclosed upon (collateral).

Based upon the expense and lack of collateral, perhaps development for air rights is ripe for crowdfunding to get the job done. In crowdfunding, accredited investors (net worth of more than $1 million or have earned $200,000 in each of the previous 2 years) can provide the requisite funding in consideration of equity stakes in the development company, to get the project funded, built, and ready for tenants.