Enjoy the Buyer’s Market…While It Lasts The news media continues to report on the dismal state of the NYC residential real estate market for sellers – from Crain’s: “Manhattan Home Prices Fall Again”, from Bloomberg: “NYC Home Sellers Are Cutting Prices Like It’s 2009 – And Then Some”, from The Real Deal: “Stubborn sellers are […]
With the volumes of useful data available for all to see on free and user-friendly websites like Streeteasy, ACRIS and GIS Map, the NYC real estate market has never been more transparent than it is today. And with all this data at their fingertips, the homebuyers who are making the largest purchase of their lives […]
Happy Summer Everybody! We hope you are all feeling good with the start of warmer weather and enjoying the World Cup! Please enjoy our 2018 Q2 newsletter. A Tale of Two Markets We are in an unusual market right now. According to a Streeteasy report, at the end of May, there were 9,720 properties available in Manhattan – a level of […]
Is it Spring yet? The calendar says yes, but it sure doesn’t feel that way. After two months of fairly icy market activity to start the year, things have started to pick up, and buyers are starting to shake off the cold. The reality of the new tax law has set in, but uncertainty abounds, […]
In addition to a new tax code that has drawn the ire of many New Yorkers, 2018 has brought with it a material rise in mortgage interest rates. Mortgage rates have now risen for eight consecutive weeks to start the year, and, with the economy chugging along and continued robust home sales, the Federal Reserve […]
I’m a little late reporting on this, but with our first closing of 2018, a gorgeous brownstone restoration project in prime Bed Stuy, we eclipsed the $2MM mark in total real estate commission rebates given out since we began this whole Digs thing. This is such an awesome milestone, especially considering that we only eclipsed […]
Happy New Year, everybody! As we wrap up another year helping home buyers and sellers navigate the complexities of the NYC real estate market, and saving them real money with our real estate broker commission rebates and discounts, I would like to extend a personal thank you to all of you for continuing to refer […]
The new tax bill approved by the House and Senate and signed into law this year presents a world of unknowns for the real estate market going into 2018. There is (a) one major piece of the legislation that will directly make the ownership of most NYC real estate more expensive (the lowering of the […]
Homebuyers in NYC have grown accustomed to absurdly high sale prices and an unusually long and oftentimes puzzlingly complicated process to get from contract to closing. They also have to deal with some of the highest closing costs in the country, including the so-called “Mansion Tax,” a 1% tax on the gross purchase price if […]
Digs Update As you know, we, at Digs, do our best to make homeownership more affordable in one of the world’s most expensive real estate markets, by sharing our commissions with our buy-side clients and offering reduced commissions to our sell-side clients. This quarter, in the 11 transactions we closed, we saved our clients over $215,000 in rebates and reduced […]
