All markets cycle up and down, and real estate is no exception. Right now, commercial real estate in parts of New York is decidedly a "buyer's market" with more retail and commercial properties available than there are interested buyers. If you're an investor who is looking for an opportunity, this may be it.
The title to a home defines your right to ownership, possession and use of your property. Since the person you're buying a home from is already living there and using it, why do you need a title search?
When you find a great piece of property to buy, it can be downright painful to realize that a buyer is asking too much. Sometimes, a seller is just being unreasonable -- other times, they're simply optimistic. Either way, you shouldn't walk away without trying to negotiate a more respectable figure.
As a renter, you've always wished that you could own your own home -- but scraping together the money for a down payment is unrealistic. Maybe your credit score has suffered along with the ups and downs of the economy, as well, making it uncertain whether you can even get a conventional mortgage.
The historically low interest rates right now have would-be homeowners out in droves. Coupled with the fact that many established homeowners aren't selling, the situation is making the median price of a home in New York City soar.
Sometimes life deals you some unexpected blows. You may have lost your job or gotten divorced or experienced a health problem. You may find yourself unable to meet your monthly obligations and are contemplating filing for bankruptcy. If you're worried about what will happen with your New York home, then you might find it refreshing to learn that seeking out a loan modification might be an ideal option for you to consider.
To say that the New York City real estate market is a complex and dynamic industry is like saying that Times Square can get quite congested. In other words, it's a bit of an understatement.
Buying your first home is a thrilling (and stressful) experience. Just the same, you don't want to let the excitement and anxiety you're feeling make you forget one of the most important steps you should take now: Hiring an attorney.
With all the complexities involved with buying an apartment here in New York City, if you learn that the sellers are divorcing, should you give the property a hard pass? Not necessarily, as they may be doubly motivated to unload the property.
Should you offer to front the money a buyer needs to purchase your home? It may sound a little crazy, but seller-assisted financing is a viable option for a lot of owners who need to unload their property and can't find a buyer quickly on the regular market.