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Residential Real Estate Archives

Mold: A danger that needs to be disclosed before a purchase

When you buy a home, you expect the homeowner and realtor to disclose any issues the home has, especially if those issues are costly or could cause health problems. One such problem in a home could be the presence of toxic mold.

New development struggles in changing West Chelsea market

A new development in West Chelsea may be of interest to you if you love swimming. This 31-unit mid-rise is meant to have 4-foot-deep pools in over half its apartments. The pools will be indoor-outdoor units, giving people the option to swim in any weather conditions. They are heated as well, making them ideal for the winter months.

You should ask questions before hiring an attorney or realtor

Any time you decide you want to sell a home, it's important that you work with someone who has the skills and experience to assist you. Before you decide who you want to work with, you need to ask a few questions.

Can you sell a home without a clear title?

If you're ready to sell a home but aren't sure you have a clear title, that's something you're going to need to work out. Without a clear title, it's going to be incredibly difficult to find someone who will be able to finance a purchase. Mortgage lenders won't want to finance a purchase that doesn't have a clear title, because problems that arise from black marks on the title could affect the value of the property.

What will the real estate market be like in New York this year?

With 2017 at the halfway mark, it's good to take a moment to look at the predictions for this year's real estate market. City Realty, for instance, predicted that 2017 would finally be the year where condos would drop in price. It would be the first time in five years that they would do so.

Don't get caught up in the psychology of real estate markets

Real estate markets, especially in trend-setting areas such as New York, often rely on the power of psychology to drive buyers into a deal. Traditionally, for example, realtors might create alluring online ads to drive more people to see a property. Once they get a crowd rushing an open house, they use that as leverage to create a sense of urgency about the deal: With so many people looking, a buyer who wants the property needs to leap now.

Mayor de Blasio's 'mansion tax' getting vocal opposition

Mayor Bill de Blasio is asking the state legislature to enact a new "mansion tax" in order to bring more money into New York City's coffers. The goal is to help some 25,000 senior citizens throughout the city stay in their homes at prices they can afford.

What does the interest rate hike mean for New York real estate?

Anyone who has an adjustable-rate mortgage knows that even a small change to interest rates can mean a big change to your monthly mortgage payments. Shortly before the end of last year, the Federal Reserve raised interest rates for the first time in awhile -- by .25 percent. The Fed has suggested that another rate hike could come this year.

Luxury residences in New York no longer as popular

A New York City real estate agency recently published its end-of-year report on our city's residential real estate market, and the news doesn't appear to be good for those involved in luxury properties. As the president of Olshan Realty, Inc. said, we are no longer in the "golden years of new condo development," which she describes as 2013 through 2015.

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