Archive for Manhattan Real Estate
New Appraisal Rule Fallout
The Home Valuation Code of Conduct passed in May of 2009 with the goal of ensuring appraiser independence. But the rule has also produced low-ball appraisals that can shatter deals, and appraisers say it has harmed appraisal quality. It seems the only group happy about the law are the mortgage lenders, who have seen their [...]
Top Ten Biggest Manhattan Mansions
While Manhattan is certainly a city of condos and coops, it also has some of the biggest and most beautiful townhouse homes anywhere. The Real Deal highlighted the top ten single-family townhouses in Manhattan last week- here are the highlights. Manhattan’s Biggest Homes 1. 4 East 75th Street. 21,700 square feet The Harkness Mansion, built [...]
Mortgage Math Tests?
Should you have to take a math test to qualify for a loan? Columbia University assistant business professor Stephan Meier thinks maybe you should, and he has the survey results to back up his question. According to a New York Times report on Meier’s survey, people with poor math skill are three times more likely [...]
Why Section 1031 Will Cut Your Taxes
1031 Exchanges If you own one or more investment properties, you probably know about Section 1031 of the Internal Revenue Code. If you dont know abot 1031 exchanges, it allows an owner of an investment property to defers the tax consequences around a property sale. Basically, it allows you to roll over the proceeds so you can [...]
Replacing A Wood Floor
Replacing A Wood Floor If you live somewhere with wood floors for long enough, sooner or later it comes time to do something about the ground you walk on. If it’s that one nail creeping out or the extra wear on that section there, it may just need to be refinished. As they say, most [...]
Manhattan’s Shadow Inventory Steps Into the Light
The “shadow inventory” of condos and apartments is starting to come into the light. Projects that were placed on hold in 2008 to wait out the recession are going back on the market for a variety of reasons. Condo sales are beginning to pick up again overall, banks are making loans to developers again, and [...]
The Legend of Rent Control
We all know someone who knows someone who has one of the legendary rent-controlled or rent-stabilized apartments. According to the State Division of Housing and Community Renewal, there are 40,000 rent-controlled and 848,000 rent-stabilized apartments in New York City. Famous examples include the apartments featured in Woody Allen movies and the place “Monica” from Friends [...]
30 Year Mortgage Rates at 4.84%
This week U.S. 30-year mortgage rates fell to their lowest level since December, 2009, approaching record lows. Hopefully this will keep the interest of the buying public high as we near Mamorial day and a traditionally slower sales season in NYC. According to Freddie Mac, shorter-term home loans are also at a new all-time low. According to Reuters, here [...]
MyClean.com Keeps You Clean
Like Neil Young sang, a man needs a maid. But when you need to find someone good, does it work to rely on the recommendations of friends? Not always, and even then there are always scheduling issues. What about the times you need some work on your apartment fast and on your schedule? A new [...]
Will Tamarkin Anderson Bring Hope to 1 Madison Park?
The next chapter in the saga that is One Madison Park may be dipping its pen into new ink. While its history up to now reads like a CSI rap sheet, with backouts, foreclosure and forgery just a few of the choice dramatic twists, court appointed receiver Jonathan Newman is dealing with the legal issues [...]