No More Rental Fees in NYC? There are still rental fees in NYC, but the new guidance is pretty huge for the residential real estate community: landlords, agents and renters! The Facts On Tuesday, the New York Department of State issued Guidance that a landlord’s agent cannot be compensated by a prospective tenant. The DOS suggests that this Guidance takes effect immediately. WHAT IS PERMITTED: A...
Best Value NYC Neighborhoods | Where is There Still Room to Grow? 10 NYC Neighborhoods Where Home Prices Rose the Most in 2010-2019 At the end of 2019, Streeteasy reported that 8 of the 10 NYC neighborhoods where home prices rose the most in the decade of the 2010s were in Brooklyn. This is not surprising for a number of reasons. Brooklyn was definitely the borough of choice for homebuyers and developers...
Mortgage Assignments and the CEMA (Consolidation, Extension and Modification Agreement) Back in 2017, Dan wrote a post about CEMAs. Fast forward a couple of years to 2020, and many players in the residential real estate market (including many real estate brokers) still don't know what a CEMA is. For this reason, we're writing another post about the benefits of a CEMA and how buyers can use a CEMA to save a...
It's a buyer's market. Should you sell? Pretty much everyone is in agreement that today's market is more favorable for buyers. This doesn't mean that you shouldn't sell now, but it does mean that you should be mindful and realistic about how much you will sell for. In this post, we will share with you our thoughts on how to sell your NYC apartment in today's buyer's market. Often, sellers have no choice...
The Death of Fairway Market | Impact on UWS I've been reading a lot of articles today about what is going to happen to Fairway Market. We heard rumors over the past few weeks that Fairway might file for Chapter 7 bankruptcy and close its stores. This morning, the Post put out an article, and the West Side Rag and I Love the Upper West Side followed. My inbox was flooded with my friends forwarding the Post...
First Time NYC Home Buyer Tips At Digs, we work with a lot of first time home buyers. Often times, these are our favorite clients to work with. Everything is so new and exciting for them, which makes it more exciting for us. There are a few things every first time home buyer should know and do before they embark on searching for a home in NYC. We’ve put together some home buyer tips based on our...