Co-op and Condo Board Reference Letters in NYC Real Estate Believe it or not, when buying a home in NYC, unless it’s a single family or multi-family, you will be required to have your friends, colleagues, landlord and banks write you board reference letters. We Need Reference Letters for Condos Too? Yup. Condo board packages […]
After a six-month hiatus, our Digs Realty newsletter is back! I’m sure you’ve all been dying to hear about the 2019 market, so this newsletter is chock full of juicy updates. I apologize for the break, but April and May were two of the busiest months that Digs has ever had – which set the […]
State Increases Mansion and Transfer Taxes in New Budget Deal The New York State legislature and Governor Cuomo agreed to a state budget deal that created new progressive mansion and transfer taxes for residential real estate purchases and sales. The changes went into effect on July 1, 2019. The so-called “mansion tax” – perhaps the […]
Rejection from Co-op Boards Buyer’s and seller’s real estate agents do everything they can to avoid rejection from co-op boards. Before accepting an offer, a seller’s broker will scrutinize the buyer’s profile. They will look at the buyer’s financial profile, including their debt to income ratio and their liquid assets after closing. The agents will […]
Real estate agents are allowed under New York State law to give home buyer rebates to their clients. The New York State Attorney General encourages buyers and brokers to take advantage of commission rebates as noted here. Since 2014, Digs Realty Group has given huge broker commission rebates (over $3.25 million) to its clients. Digs […]
Digs Realty up to 2% of your purchase price cash back at closing 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 […]
The Perils of Price Per Square Foot The NYC real estate market has never been more transparent than it is today. This is due to the volumes of useful data available on free, user-friendly websites like Streeteasy, ACRIS and GIS Map. With all this data at their fingertips, homebuyers have never been more well-informed. With […]
Digs Realty up to 2% of your purchase price cash back at closing 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 […]
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 […]