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 […]
Debt-to-Income Ratio Requirements in NYC Real Estate You need far more than a down payment to buy a co-op in New York City. Just because a bank is willing to approve you for a loan, doesn’t mean a co-op board will also approve you. When buying a co-op in NYC, you will also need to […]
Post-Closing Liquidity in NYC Real Estate You need far more than a down payment to buy a co-op in New York City. When buying a co-op in NYC, you will need to meet the building’s post-closing liquidity and debt-to-income ratio requirements. Many co-ops have specific requirements, while others take a holistic approach to evaluating a […]
Steering and Discrimination – What Prompted the Recent Chatter? In an article published by Newsday on November 17, 2019, Newsday reported that almost half of all black homebuyers and renters on Long Island are likely to face discrimination from real estate agents and brokers. Newsday conducted a three-year undercover investigation of real estate practices in […]
Is The Real Estate Broker Commission Rebate Legal in New York? Dan’s first blog post was on the topic of whether broker commission rebates are legal in New York. 5+ years later, I thought it would be good to remind you the answer to the question are real estate rebates legal? The answer is, in […]
Affordable Housing Lottery at 55-75 West End Avenue 55-75 West End Avenue is a luxury rental complex just off 66th Street and West End, built in 1994. A housing lottery just opened for spots on the waiting list. The housing lottery will accept 200 people onto a waiting list; however, there is no specific timeline […]
What is a Land-Lease Co-op? In November 2014, Digs wrote a blog post about the perils of land-lease co-ops. In a ground lease, the owner of land leases it to a developer with the intent that the developer will build something valuable on it. The term of a ground lease is typically very long (for […]
What Is That Weird Thing Jutting Out of the Hudson River? It’s unusual that you will find me in a car rather than a subway. Last weekend was unique because I had just broken my foot, and I was in no position to be climbing up and down stairs and being on a crowded subway […]
Wegmans As a Cornell graduate and Ithaca resident for four years, the idea of having a Wegmans in NYC is, how do I put this, nothing short of AMAZING!!! I probably went to Wegmans on average of four times a week while I was a college student. Why? Because it’s simply the best supermarket and […]
What is a REBNY Financial Statement? A REBNY financial statement is used by sellers in New York City to evaluate the financial strength of buyers. Buyers should be prepared to complete a financial statement and submit it with their offers. Click here to view a REBNY financial statement. Why Do You Need a REBNY Financial […]