The Perils of Price Per Square Foot
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 […]
Digs Realty Q2 2018 Newsletter | $2.5MM+ in Rebates
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 […]
Digs Realty Q1 2018 Newsletter
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, […]
Mortgage Rates are Rising…DO NOT PANIC
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 […]
Digs Has Eclipsed $2MM in Real Estate Commission Rebates!
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 […]
Digs Realty Q4 2017 Newsletter
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 Law and NYC Real Estate
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 […]
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 […]
Digs Realty 2017 Q1 Update
Hey everybody! I hope you’re all doing well. The Market Awakens. A very strange thing happened when 2017 came along – the market woke up. Instead of nursing a new year’s hangover and eating a greasy breakfast, the market started behaving like it not only had a good night’s sleep, but also like it just finished […]
$600,000 in Broker Commission Rebates to Clients in 2016
2016 was a pretty crazy year! Digs Year in Review $600,000 in Rebates. In 2016, we hit a huge milestone and eclipsed $1,000,000 in gross broker commission rebates and discounts given since we launched Digs full time in 2014 – real money that has helped make home ownership a bit more affordable for our clients and has […]
Waiving the Mortgage Contingency when Buying a Home in NYC
Buyers who require financing can improve their chances to compete with cash buyers by waiving the mortgage contingency. Most of my deals over the past few years have been cash or non-contingent. An increasing number of my deals today are contingent, but it is still a minority. This blog post discusses a bit about the […]
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 […]
