Central Park North and its $150M Improvements

Central Park North and its $150M Improvements One of the greatest things about New York City is Central Park. It has just about everything you could want or ask for in a city park: a carousel, a zoo, ball fields, clay tennis courts, rowboats, restaurants, open lawns, playgrounds, fountains, statues, theaters, a castle, a garden, dirt […]

Homebuying Rebate

Amazon and Realogy Real Estate Partnership | TurnKey

Amazon and Realogy Real Estate Partnership | TurnKey Today, Amazon and Realogy announced a new partnership called TurnKey. TurnKey will connect home buyers with real estate agents. What Do Home Buyers Get? Home buyers will get up to $5,000 to spend on certain Amazon home services and smart-home gear after they close.  The amount of […]

Digs Realty 2019 Q2 Newsletter

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

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

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 […]

The Perils of Price Per Square Foot

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 […]

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 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 […]

CEMA

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

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 […]