Real Estate Investment

3rd Quarter 2012 Market Report Snapshots

Posted October 25 by Dottie Herman, Leave a comment

Below you’ll find brief summaries of our findings from this quarter’s market reports, which we produce four times a year in conjunction with Miller Samuel, Inc. While each market is unique, the major overarching trend that we saw as consistent across the board was high demand (due to record-low mortgage rates and continually increasing rental prices) and low inventory, or supply. In several of the markets, this produced something of a domino effect on the other indicators. For example, many of the markets showed faster monthly absorption rates (indicative of market pace) and increased days on market (indicative of the fact that because there was not enough new inventory to meet increased demand, older properties that had been sitting on the market for a longer period of time started to sell off). Follow the links below to read the full … Read More.

Is it true that a sponsor unit in a co-op building doesn’t fall under the building’s subleasing rule and can be a good investment property?

Posted September 7 by Dottie Herman, Leave a comment

Q: Is it true that a sponsor unit in a co-op building doesn’t fall under the building’s subleasing rule and can be a good investment property? Thanks. Read More.

How does a co-op board interoperate debt-to-income ratio?

Posted September 4 by Dottie Herman, Leave a comment

Q: When buying a co-op in Manhattan on Park or 5th Avenue, how does the board interoperate debt-to-income ratio? Is debt considered just the maintenance? Read More.

What is the purpose of maintenance fees and when are they applicable?

Posted August 13 by Dottie Herman, Leave a comment

Q: What is the purpose of maintenance fees and when are they applicable? Co-ops, condos? Are there taxes over and above the maintenance fees? I am particularly looking at 1-bedroom apartments for sale in Manhattan so I am only interested in issues applicable to Manhattan apartment purchases. Thank you. Read More.

Is Elliman the biggest real estate company?

Posted June 1 by Team Elliman, Leave a comment

Q: Is Elliman the biggest real estate company? Read More.

What type of loan should I take out to do home improvements?

Posted May 7 by Jan Scheck, Leave a comment

Q: What type of loan (equity line of credit or loan) would be better to take out to pay off credit cards and do minor home improvements on an investment property? Total debt is $87,000 and have 2 credit scores over 710. Read More.

I want to use my current home as an income-producing property, but am having trouble getting a loan. Can you help?

Posted April 20 by Jan Scheck, Leave a comment

Q: I own a three-family home in Holyoke, Massachusetts, and would like to use it as a rental/income property and purchase a home in a more rural area. Can you help me find a lender who doesn’t see in only black and white? I spoke with a lender who said that they would not consider the rents from all three apartments because it wasn’t on my taxes as such. I tried to explain that I am living in one apartment and my mother in another, so the two apartments weren’t rented out. I have all three apartments rented out–$700, $700, and $850 per month covers ALL the mortgage, taxes and insurance, and leaves me with $950 income at the end of the month. I am so frusterated and any help on such a lender or your professional suggestions would be … Read More.

What store is Elliman opening at 774 Broadway?

Posted April 3 by Team Elliman, Leave a comment

Q: What store is opening on the corner of Broadway and Wanamaker Place? Read More.

If I live in Australia, can I purchase an NYC apartment to use when I’m in town and rent out the rest of the time?

Posted March 9 by Dottie Herman, Leave a comment

Q: I live in Australia and want to purchase an apartment in NYC that my family can use when visiting, and that will then become part of a rental pool. What net return can I expect and, being an Australian citizen, can I borrow in the US? Read More.

I own a building on West 84th between Columbus and Amsterdam–how do I develop the property to maximize its value?

Posted March 8 by Dottie Herman, Leave a comment

Q: I own a 5-story, 19/92 building on West 84th between Columbus and Amsterdam. If I fully renovate the units, what would a unit be worth? I also want to know what layout and room count would make it most valuable. Read More.