New York City’s Department of Housing Preservation and Development requires owners of multiple dwellings to register their buildings with the department annually. Before this recent change, different buildings would register at different times. Now all buildings covered by the law — generally buildings that have three or more rental apartments — must register with the department … More New Rules For Building Registration
This CNN Money article points out how many who lost their homes to foreclosure and short sales are taking a fresh start at home ownership. Borrowers who lost homes to foreclosure during the housing bust are starting to buy again. Since the housing bubble burst, 4.8 million borrowers have lost their homes to foreclosure, and another 2.2 … More Boomerang Buyers Return to Market After Foreclosure
The following article from CNN Money is further proof of continued strength in the real estate market. The housing market recovery picked up steam in the final three months of last year, with prices rising at an annual rate of 7.3%, according to S&P Case-Shiller, while a government report showed sales of new homes also … More Housing recovery gains strength
This recent article from Associated Press reveals the mindset of sellers, buyers and brokers dealing with homes affected by Hurricane Sandy that are going on the market this Spring. It sounds like the premise for a new reality TV series: “Hurricane House” — people scouring waterside communities looking to buy homes damaged by Superstorm … More Sandy-damaged homes hit the market at bargain prices.
As reported in the following Wall Street Journal article, Friday is clearly the best day to list your home for a faster sale which will yield a higher sales price. Read the article below. T.G.I.F. One day of the week can mean an extra $5,000 in a home-seller’s pocket. Last year, homes listed on … More The Best Day to List a Home is….
The article below which appeared recently in the Wall Street Journal provides further proof that now may be a good time to sell if you were holding out for the right time. It might finally be time to come out of the basement. Seven years after the housing market began to collapse, rising prices and … More Is It Safe to Sell Your Home?
A Realtor explains that the best deals are not always on these properties.
A commitment to make the loan that is conditioned on obtaining an appraisal satisfactory to the lender, is not considered a firm loan commitment until that condition is removed. If the appraisal eventually comes in at a number that is too low to support the amount of loan applied for the purchaser may elect to terminate … More A Loan Contingency and a Buyer’s Rights
So you enter into a contract to purchase a co-op and at the interview with members of the Board discover that an assessment of $150 is will go into effect by the time you are expected to close your purchase. Do you have the right to cancel this contract? The standard co-op contract of … More A Coop Contract and an Assessment
What if the closing on the purchase of your home is delayed and you are now faced with staying at your current rental apartment one month beyond the expiration date of your lease? In this circumstance, you should not sign a renewal lease for a one year period. If you do, you would be … More Staying in the Apartment for an Extra Month