Buying & Selling

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How Low Can You Go?

By Barbara Dershowitz

In June 1992, the board of directors of a 160-unit co-op in Port Chester, New York made the same decision that countless Read More

Deciding on a Broker

By Marilyn Harra Kaye

Unlike most places in America, Manhattan does not have a multiple listing service, a directory that Read More

Getting Approved

By Ed Serken

It has been compared to a trip to Read More

Changes in Lead Law

By Marianna Koval, Esq.

If you thought asbestos was a problem, wait until you hear about lead. Found in 57 million private homes in the United States (two million in New York City), lead-based paint poisons young children, reduces IQs, and causes learning disabilities, hyperactivity, and behavioral problems.

Read More

The Buyer's Guide

By Carol E. Levy

If you’re contemplating buying a new home, there are a few vital questions that should be asked, even before you start attending open houses and getting your heart set on one property or another. Among those questions might be, “How do I start the process?” “What can I afford?” “Does the right home exist in my budget?” “Should I buy a co-op, condo or townhouse?” “Will I be approved for financing?” “Will I be approved by a co-op board?” Read More

Apartments that Sell

By Carol E. Levy

The vast majority of co-ops and condos that are put on the market are not in picture-perfect shape for a rapid and high-priced sale. Prospective buyers, who view those apartments, often cannot see beyond the superficial defects and so fail to appreciate an apartment's potential. It is essential, therefore, that before an apartment is put on the market, it is made to look as attractive as possible. This is called staging, an essential step toward ensuring that an apartment does not stay on the market for an inordinately long period of time and is sold for the highest possible price. There are two categories of staging: primary and secondary, and each contains five subcategories, all of which are prerequisites, if staging is to achieve the desired results. Read More

Making the Sale

By Keith Loria

The co-op and condo market in New York City has been booming for some time now, so when properties go on sale, it's not very difficult to find a buyer. It doesn't really matter if it's a sprawling penthouse in a hot neighborhood or a small studio on an out-of-the-way street - if it's got four walls and running water (and sometimes even that is negotiable) your unit will sell. Read More

Top Dozen Reasons for Co-op Board Rejections

By Carol E. Levy

Before even beginning the hunt for that perfect co-op, the prospective buyer should be familiar with all the possible ways one's application might be rejected. That familiarity will enable one to focus on the appropriate buildings as well as to make the necessary adjustments so that rejection will not occur. Read More

Decorating with Feng Shui

By Denton Tarver

Ever wonder why you suddenly get a feeling of relaxation and tranquility upon entering certain spaces, and your blood goes cold in others? Why some homes just feel happy and harmonious the moment you cross the threshold, and others just don't? Read More

Choosing A Broker

By Barbara Wagner

After 20 years in an English Tudor in Westchester's Pelham, Bobbi and Warner Burke decided it was time to "wake up in the heart of Manhattan. We wanted chaos, color and vibrancy where we lived," says Bobbi. Without any leads for brokers, Bobbi-who had been reading the real estate section of the newspaper for a year in anticipation of a move-went into the city and visited The Corcoran Group's Upper East Side location. "I just hit the agency cold," Burke recalls. She was hooked up with Inge LaSousa, a Corcoran broker who happened to be available at that moment. "We started to look at properties that day," says Burke. Read More

Cover Story: Selling One Home to Buy Another

By Diana Mosher

You've planned carefully so that you'll be ready to close on the apartment you're selling just as you take possession of the apartment you're buying. Even though the new place isn't yours yet, you've already begun renovating and decorating it in your mind's eye. Then you get the bad news that a higher bidder has snatched "your" home out from under you. Unfortunately, it's too late to decide not to sell the co-op you live in. There's no turning back and the likelihood of finding another great apartment seems unlikely. Even worse, you begin to worry that you and your belongings will wind up out on the street or camped out in a relative's guest room. What are your options and are there any steps that buyers who are also sellers can take to avoid this and other nightmarish scenarios? Read More

Essential Qualities

By Carol E. Levy

Whether you're buying or selling a condo or co-op, the goal is to engage a real estate broker who will get you the best price or the best apartment in the shortest period of time. Unless you already work in the real estate industry, you likely will not have an ongoing relationship with an individual broker. When engaging a broker—either as a buyer or a seller—there are 10 essential qualities to look for when seeking a superior broker. Read More

I Want My RE-TV

By Lisa Iannucci

Several years ago, the only television shows on buying and selling real estate were late-night or Sunday morning agonizing, yet tantalizing, infomercials touting get-rich-quick products. These shows taught viewers that by simply buying the product, purchasing property at no- or low-cost, they could reap the financial rewards of homeownership. Read More

Apartments SellóBut Who's Buying?

By Greg Olear

Thirty-eight of the 400 individuals on Forbes magazine's list of the richest Americans—almost ten percent—call New York City home. All thirty-eight are billionaires. Some of them, like Ralph Lauren and Donald Trump, are household names. Two of them are Rockefellers. One of them, Michael R. Bloomberg, is the mayor. Read More

The Sky's the Limit

By Stephanie Mannino

While the real estate market across the country has cooled in general, it's still going strong in New York. The New York City market has always stood apart from the rest of the country, for reasons that everybody here practically knows by heart: limited space, high demand, lots of people with lots of money, and highly desirable, one-of-a-kind properties. Whether buyers hope to reside in historic buildings or state-of-the art modern architecture, New York's real estate market without question offers some of the most sought-after properties in the world. Read More

Back to the Future

By Domini Hedderman

An old adage of the real estate game speaks of the importance of "location, location, location," meaning that value goes up (or down) depending on where a property for sale is located. The hot 'location' in New York is constantly moving. Also moving is the overall real estate landscape of a shifting economy and the changing needs of new demographics. Read More

The Battle for Brooklyn

By Raanan Geberer

East of the busy intersection of Atlantic and Flatbush Avenues in Downtown Brooklyn, where the Long Island Rail Road and almost 10 subway lines intersect, one finds, in the shadow of the landmark Williamsburgh Savings Bank building, the Vanderbilt Rail Yard. At this rather unattractive open-air facility, trains that terminate at the LIRR's Brooklyn terminal rest between rush hours are cleaned and serviced. Read More

Selling Smart in New York City

By Neil Binder

Sellers have one overriding goal that is clear to everyone: to achieve the highest possible price for their property. However there is risk and it is this risk that must be minimized to maximize the probability of return. Read More

Diversify and Conquer

By Michael McDonough

In the last four or five years, the tri-state real estate industry has borne witness to seismic shifts in the balance of power among real estate brokerage firms. Companies that are giants in their own right have merged with others, creating titanic real estate empires stretching across every borough, reaching into the Hamptons at the easternmost tip of Long Island, and even stretching down the East Coast into Florida within the tonier enclaves of Palm Beach and Miami. Read More

Can We Talk?

By Anthony Stoeckert

They say there's no such thing as a bad question - and when it comes to buying or selling a condo or co-op, asking the right questions of your broker, both before you choose one and afterwards, can help make the process run a whole lot smoother. Read More

Let the Good Times Roll

By Anthony Stoeckert

Whatever goes up is supposed to come down, but when it comes to the New York City real estate market, the laws of gravity may not necessarily apply. Experts say the industry that enjoyed good times in 2004 will continue to be healthy throughout 2005. Read More

Tips for Moving on the Cheap

By Alexandra Wolf

Moving on a budget? No sweat. Here are some money-saving tips Read More

Smooth Move

By Alexandra Wolf

On the surface, moving sounds like a no-brainer: Put stuff in boxes. Move boxes from A to B. Unpack boxes. What's the big deal? But as anyone who's ever moved can tell you, it's never that simple. In fact, it's often a nightmare that leaves a trail of dead plants, abandoned toaster ovens and frayed nerves in its wake"¶ but it doesn't have to be like that. Read on and we'll tell you everything you need to know to make your move go as smoothly as possible. Moving may not be an exact science, but smart planning - and patience - can take some of the angst out of the endeavor. Read More

Going to Market

By Chrysa Smith

Shopping is not a spectator sport. At almost any level, from books to stocks to brokers, it involves fulfilling desires, meeting needs, negotiating price and choosing suppliers. There is no guarantee of success, and as the price of the purchase goes up, so do the stakes - making the amount of research and advance preparation more important. Having the right professional by your side may be the best investment you can make to assure the best results, especially in the highly competitive game of New York City real estate, where it's common for both the apartment buyer and the seller to retain the services of separate brokers to facilitate their search for a home - or for a buyer. Read More

Showing People the Way Home

By Anthony Stoeckert

Sheila Lokitz came to New York 16 years ago with a career change in mind. Moving from Los Angeles to work in the garment industry, she knew that New York was different from other places and she wanted to be a part of it. As much as anything else she noticed the buildings - and not just because a lot of them are so big that they're impossible to overlook. Read More

The Market Strikes Back

By Michael McDonough

Now that 2003, which opened with political strife and closed with one of the worst winters on record, is over, brokers are looking ahead and eagerly anticipating another strong year in 2004. An improved economy and enticingly low interest rates have helped to fuel a market resurgence unseen in many years. Empty nesters are migrating to Manhattan and would-be renters are buying, making once-iffy neighborhoods the newest hotspots. While brokers predict continued growth, they also warn of a price increase due to an inventory shortage and increasing demand. Read More

Relocation Services

By Lisa Iannucci

Buying a new home is a very big decision that can be filled with excitement and fear, even if you're just moving across town. When you're coming to New York from another city, state, or even country, however, the task becomes much more challenging. Unless you know exactly where you want to live, relocating to the city means searching through over 300 miles of neighborhoods spanning five boroughs to find the right home. Manhattan alone breaks down even further into hundreds of little communities with homes for all budgets, each with its own special personality. Read More

MLS-Less

By Hannah Fons

The road toward having a single, comprehensive Multiple Listing Service, or MLS, in New York City has so far been long and arduous. Most major U.S. cities have had their own version since the 1970s, but for a host of reasons - size, sheer number of listings, and fierce competition for listings among brokerages - an MLS for Gotham has never really gotten off the ground. Here's a quick look at the concept's stop-and-go history, and at some of the alternatives vying with MANAR's efforts to fill the void. Read More

Twenty-O-Two to Twenty-O-Three

By Stephanie Mannino

At the beginning of 2002, the outlook for the city's real estate market seemed healthy, if a little uncertain. September 11th was still fresh on everyone's minds, and the aftereffects on the co-op and condo market carried over from 2001. According to Joanna Simon, a broker with the Fox Residential Group in Manhattan, "Everyone was in state of shock [after September 11th]. Some people panicked and wanted to get out of city, so they put their properties up for sale."Ě But with a lack of buyers immediately following the attacks, most properties just sat on the market. Simon also found that some prospective buyers who were already in negotiations pre-September 11th didn't want to continue and close the deal. Read More

Banishing the "B- Word"

By Hannah Fons

Selling your apartment in New York is serious business. If you're thinking of selling your co-op or condo, the question of where to even list the property for sale alone may be enough to keep you up nights, to say nothing of putting a fair market price on it, arranging for prospective buyers to come in and view what you're offering, and finally closing the deal. There are countless little (and not-so-little) things to worry about, and if you're a normal, mortal human with a job, maybe a family, and a life to lead, you may find yourself in serious need of help - the kind of help that a professional real estate broker may be just able to provide. Read More

Come On In!

By Alexandra Wolf

New Yorkers are a famously busy bunch, always looking for ways to maximize their time. Buying or selling an apartment can be the most time-consuming process imaginable, and city dwellers are always eager to try out ways of moving things along: Hence the enduring popularity of open houses - one of the most efficient ways of unloading or snapping up real estate. But how do group events stack up against private showings? And what's the best way to run an open house? Are there mistakes to avoid? Read on, and the open house will be an open book. Read More

What's It Worth To You?

By Elizabeth Lent

Everyone thinks their home looks like two million bucks, but in the world of banks and real estate agents, it takes a professional appraiser to prove it. Especially in the unique and ultra-competitive world of New York co-op and condo real estate, having someone with all the facts and figures at their fingertips can be invaluable. Whether you're selling property or buying, an appraiser can provide you with the information you need to make practical decisions about your home and finances. Read More

The Downtown Market

By Stephanie Mannino

The downtown Manhattan real estate market has gone though a series of ups and downs in past years, but clearly, nothing in recent memory has affected it as drastically as the September 11 terrorist attacks. The aftereffects of the attacks on the World Trade Center have reverberated in the months since, disrupting the lives of those already living in Lower Manhattan and raising questions about the area's future. Early assumptions were that most people would leave and move to other parts of Manhattan or get out of the city altogether. But that mass exodus many were expecting never really happened, and in the time since the attack, realtors and real estate brokers have seen the market change dramatically. So what did happen, and where is the market now? Read More

Getting to Know You

By Elizabeth Lent

The days of neighbors bringing casserole dishes to the door may be over, but welcoming new co-op and condo residents into the buildings they now call home is not an entirely lost art. In fact, it goes on every day in buildings throughout the city. Read More

Buy, Buy!

By Elizabeth Lent

New Yorkers looking for a little more living space have a lot of options these days. Construction on new co-op and condo buildings–as well as conversions–are moving along at a steady pace, while the recent economic downturn has made New York City real estate something more closely resembling a buyer’s market than has been seen in some time. Prices are dropping while availability is increasing. Couple that with low interest rates, and developers are seeing a steady stream of new customers for their latest co-op and condo offerings. Read More

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