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My co-op is raising the monthly maintenance fees, which are already high. What are the consequences?

Posted December 29 by Jonathan Miller, Leave a comment

Q: My co-op in Westchester County is raising again the monthly maintenance fee. As a holder of one of the biggest apartments in the co-op, my quota is going very soon to be equal to my monthly mortgage. What are the consequences of this? Read More.

I’m thinking of purchasing a home. What do I need to know about doing a title and lean search in order to protect myself as a buyer?

Posted December 26 by Jerry Feeney, Leave a comment

Q: I know that before you purchase a house, you should do a title and lien search to protect yourself as the buyer. What are the key factors to look for? What are some “red flags”? What parts of each search document are vital? What are the terms I need to know, their meaning, etc.? Please explain in simple detail… Thank you. Read More.

How can I tell if a credit repair company is legitimate?

Posted November 30 by Tracy Becker (Credit Expert), Leave a comment

Q: I am thinking of purchasing a property within the next year and I need to fix my credit. How can I tell if a credit repair company is legitimate? Read More.

Credit scores are often a point of confusion.. Here is some helpful information

Posted November 16 by Team Elliman, Leave a comment

Most real estate professionals would agree that credit scores are often a point of confusion for their clients—buyers and sellers, alike. With so many variations of credit scores available online, it can be unclear which one to pull, or which one bankers will look at when assessing whether a client qualifies for a mortgage. Clients who order the wrong scores are often angry and frustrated that their information does not match what the bank presents, and they can end up losing out on a property as a result. To help our clients and agents avoid this type of situation, below you will see information that breaks down the various types of credit scores and their typical ranges, and gives an overview of which scores are available for purchase, and which scores bankers will use. Managing expectations is key to a … Read More.

Resources in Hurricane Sandy’s Aftermath

Posted November 2 by Team Elliman, Leave a comment

Our hearts and prayers are with everyone who has been affected by Hurricane Sandy. We want you to know that Douglas Elliman Real Estate is standing with you, and is here to help throughout the tough recovery ahead. If you need any assistance during these difficult times or have concerns about how the storm may affect buying or selling your home, we are here for you. Email us at ask@elliman.com or call us at 1-800-ELLIMAN. Our spirit is strong and we know that it is times like these that bring us all together. Below is a list of resources for those in need, or those looking to get involved with relief efforts. Be safe and be strong. Emergency Contact Information: FEMA (Federal Emergency Management Agency): 800.621.3362 FEMA Connecticut: 860.256.0800 FEMA New Jersey: 609.963.6900 NYS Office of Emergency Management: 518.292.2200 Nassau … Read More.

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.

How many years does it take to clear your credit when you owe money?

Posted September 11 by Tracy Becker (Credit Expert), Leave a comment

Q: How does owing money on a credit card affect credit scores and how long does it take for the bad credit to clear from your history? Read More.

Can you pay a broker fee in installments?

Posted September 11 by Tracy Becker (Credit Expert), Leave a comment

Q: Would you ever consider a payment installment plan for your broker fee? For example, if I found a place through you and was able to pay the 12-15% fee, could we set up a structure to pay that fee over the course of a couple weeks? Many thanks. 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.