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Adverse possession can lead to home ownership at a low cost

Even in New York, there are properties that are abandoned. These properties may be inhabited by individuals who publicly move in without paying. People who do this may eventually take possession of the property through adverse possession laws.

Environmental issues can ruin a home purchase

Environmental issues can make a real estate transaction go south faster than almost anything else. Imagine wanting to purchase a property and getting halfway through the transaction before you find out that the land had been contaminated or that the home is essentially lined with mold. It could be devastating and ruin your prospects for purchasing a home.

This is why some New York home prices are skyrocketing

You saw a beautiful home years ago that you wanted to purchase in New York City. At the time, it was listed at $3 million in a prestigious part of town. Today, you see the same real estate is for sale, but it's at a shocking $17 million. What has changed that made its price go up so much in such a short time? How could this happen despite a market that was still in recovery until recently?

New York real estate market settles down in 2017

If you're interested in purchasing property in New York City, now may be the time. A report from July 6 says that the current real estate market has taken a plunge, so bidding wars and cash deals are becoming less common. Since the market has become less urgent, sellers are having to reduce prices more than in 2016.

Billionaire's Row in trouble in Manhattan

If you live in New York, you may be familiar with Billionaire's Row. The stretch of real estate near 57th Street and Central Park has been struggling recently. There have been two apartments in One57, a large building in the row, foreclosed on in the last two months, as of a June 26 report.

Using a limited liability company in real estate can help

When you purchase a home, you may want to consider buying as an LLC. There are a number of reasons property buyers may want to do this, including shielding their identities from the media or the public. Some sellers may believe using a limited liability company is a little suspicious, but it's not. It's a common practice, and here are a few reasons why.

New York City taxes soar for co-op and condominium owners

If property taxes are keeping you from wanting to own a co-op or condominium, you're not alone. In fact, co-ops and condos end up paying five times more than other homeowners in property taxes, something that has long been regarded as unfair in the state.

Real estate prices are setting records in New York

Real estate in New York has continued to increase in value to the point that it is now setting records for its sale prices. If you're planning to buy real estate, you may want to consider a co-op, because selling prices have fallen, making them more affordable. The average price as of April 2017 is around $711,000.

You have a right to refuse to sell your home...sometimes

As a homeowner ready to sell your home, you want to make sure your home goes into good hands. One thing you may want to know is if you can legally refuse to sell your home to a willing buyer. You can, but there are times when your refusal may break the law.

Avoid these real estate transaction pitfalls

Despite the fact that real estate transactions appear as if they should be simple, the truth is that there are many ways to make mistakes throughout the process. Since there are ways a transaction can fail, it's always a good idea to work with a professional who is familiar with real estate law.

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