Real Estate Investment

Why is the assessed value different than what my realtor says my home is worth?

Assessed value and market value are not the same and it is not uncommon for homes to sell at prices significantly below or above assessed value.  The assessed value of a home is used for the purpose of taxes and has little to no impact on how much your home is worth to a potential buyer in the open market. The true market value for your home takes into account many factors outside the purview of a home assessment – including recent market activity and local competitive inventory.

How is the Westchester housing market for single family homes?

Q: How is the Westchester housing market for single family homes? Read More.

3rd Quarter 2012 Market Report Snapshots

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?

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?

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?

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?

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

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

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?

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?

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