Mortgage Assignments and the CEMA (Consolidation, Extension and Modification Agreement)

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 Realty Q3 2017 Newsletter

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 […]

Important Changes to Streeteasy and Buyer Searches

Hello, as you may or may not know, Streeteasy has implemented several initiatives this year which have upset the brokerage community, including selling leads and charging for rental listings.  In the wake of these developments, REBNY, the trade group representing the brokerage community, has begun bolstering its services by, as of August 1st, streamlining the […]

Digs Realty 2017 Q2 Update

Hey everybody!  I hope you’re all enjoying your summer. Digs News.  What a quarter!  Eight closed deals, ten signed contracts and four new listings!  We are well on our way to closing over $50M in transactions this year, which would be such an incredible milestone for our company to hit in just our third full year […]

REBNY Legal Line Question of the Week – Buyer Representation FAQs

Here are some snippets from today’s REBNY Legal Line Question of the Week regarding buyer representation, answered by Neil Garfinkel, the head of the real estate and banking practices at Abrams Garfinkel Margolis Bergson, LLP, and General Counsel of REBNY. This is extremely important because buyers often ask me whether they should use a buyer’s agent […]

Happy Summer from Digs Realty!

I hope you are all having a great time enjoying the warm weather and sunshine. The momentum continues to build for Digs as we celebrate another busy few months.  We now have nine closed deals in 2016 with twelve more in contract and, as of the time of this writing, another four offers accepted.  We are […]

First Time NYC Homebuyer Panel Discussion

Are you a First Time NYC Homebuyer? Last night I participated in a well-attended panel discussion to demystify the NYC homebuying process. The discussion was graciously hosted by the Cornell Club and co-sponsored by NYC Cornellians. More than 50 Cornell grads (and friends) came out to hear my advice, together with that of Justin Waiser (a […]

Happy New Year From Digs Realty!

Hi Everybody, Happy Holidays! What an amazing year 2015 has been, exceeding just about everybody’s expectations! We continue to receive a tremendous response to our offerings and are poised to significantly increase our business in 2016! In addition to keeping over $350,000 in our clients’ pockets, 2015 saw the evolution of Digs, as we responded […]

Expensive Closing Gifts or Tax Free Cash Back?

Let’s assume you just spent $15,000,000 on a Manhattan penthouse – would you rather receive an all-expenses-paid Vegas vacation with your real estate broker or a check for $300,000 cash back at closing?  Or how about a $1,200,000 Brooklyn condo – a Tiffany key ring and bracelet or a check for $24,000? It really should not take you too long to answer this […]

Every Penny Counts in NYC Real Estate

Many of my clients have different reasons why they want to buy NYC real estate.  Some people make a lot of money and want to take advantage of the mortgage interest deduction to reduce their tax liability.  Others look at renting as flushing money down the toilet and want their monthly payments to build equity in an appreciating asset. […]