When you’re buying or selling a home in Brooklyn, you might come across the term “seller concession.” What does it mean, and how can it impact your mortgage payment? If you’re selling, how can impact your sale and/or net profit? In this blog post, we’ll explore what sellers concessions are, how they work, and the […]
Courtesy of: Rafael Reyes, Originating Branch Manager at Cross Country Mortgage. Troubles in the banking sector in the US and Europe completely overwhelmed the economic reports in driving financial markets this week. Investors shifted to safer assets, and mortgage rates moved lower. The impacts of the largest bank failure in the US since the financial […]
As a Brooklyn home seller, it’s understandable to want to get the most money possible for your property. However, some sellers fall into the trap of pricing their home higher than its market value to leave room for negotiations. While this strategy may seem like a good idea at first, pricing your home right from […]
When preparing a home for sale, many sellers feel that undertaking renovations is a good way to get a higher sale price on the home. Here are 5 renovation projects Brooklyn homeowners shouldn’t undertake before selling.
As a Brooklyn homeowner, it’s natural to want to know the estimated value of your property. Whether you’re looking to sell your home or just curious about its current value, there are several websites that can give you an instant home value estimate. While this is obviously not an accurate home valuation since it doesn’t […]
We as real estate agents play a crucial role in determining the value of a property. While you can get an independent appraisal, check your Zestimate, or go off of your tax assessed value, it’s clear to us that the person who can provide the most accurate valuation of a property is a local/experienced Brooklyn […]
Preparing your home for sale in Brooklyn can be a daunting task, but with the right preparation, you can increase your chances of a quick and successful sale. Some homeowners wonder if they should stage, make major repairs, do renovations, vacate tenants, etc. There are a lot of variables so it’s good to get an […]
It’s that time of year again – the time when the Federal Housing Finance Agency (FHFA) announces the new loan limits for conforming mortgages. This year, the FHFA has announced that the maximum loan limits for conforming mortgages will increase in 2023, due to rising home prices across the country. For those who may not […]
When it comes to selling a property in Brooklyn, NY, timing can be everything. While the real estate market can be unpredictable, there are certain times of the year that tend to be more favorable for sellers. In general, one of the best times to sell a property in Brooklyn is during the spring and […]
It’s not uncommon for a family member or loved one to die and leave behind property in Brooklyn. That property may be real estate, personal items, or even intangible assets like stocks and bonds. When it comes time to sell the house, there are certain steps that must be taken in order for probate court […]
If you’re in the market to buy or sell in Brooklyn, then you may be wondering what documents you will need to fill out throughout the process, and what each document is actually used for. Below is a quick summary of common real estate documents in Brooklyn and although it doesn’t cover every single document […]
Courtesy of Rafael Reyes, Originating Branch Manager with Cross Country Mortgage, LLC Mixed News It was a packed week for major economic events. The comments from Fed officials and the inflation data were favorable for mortgage markets, while the labor market report was not, and mortgage rates ended the week a little lower. In a […]
This month we found 3 pieces of content which we think you’ll find informative or helpful. The first one is an article about the coziest spots in NYC. If you’re like us, you’re probably looking forward to celebrating the holidays and checking out some new spots. This article gives you some good ideas! The second […]
Brooklyn Real Estate Market Report 2022. Courtesy of the Brooklyn Home Team at Keller Williams Realty Empire in Brooklyn NY. Need Help? Contact Us anytime. Market Snapshot Happy Fall y’all! Hope you’re enjoying the weather and breaking out those flannels ? Here at BHT headquarters we’ve been trying to stay warm in this cooling real […]
Below is a summary of some information that we came across recently and thought you might find helpful. First is an article about the neighborhood of Queens Village, Queens. If you’ve been looking to buy or are still exploring neighborhoods in NYC, this is a good read. Second is an article about living in Howard Beach, […]
If you’re a NYC homeowner, you may find this post useful. As with every month, below is a list of some good reads and articles that we came across this month. The first one is related to PMI (Private Mortgage Insurance) and how you can get rid of it if you’re still paying it; The […]
By Daniel Akerman, Realtor and Listing Specialist with Keller Williams Realty Landmark II. The Best Kept Secret in NYC Real Estate Did you know there’s a way that both the buyer AND seller of a property in NYC can save on closing costs without costing each other a dime? If you didn’t, don’t worry. Most […]
By Daniel Akerman, Manhattan Real Estate Specialist, Keller Williams Realty Landmark II. 5 things that make selling a property in Manhattan unlike anywhere else in the country – or even other parts of NYC. Co-Ops Item #1, right at the top of the list, that is different about selling in Manhattan is the existence ofco-op […]
By Daniel Akerman, Manhattan Listing Specialist, Keller Williams Realty Landmark II. Most Manhattan homeowners and potential sellers have some sense of the real estate market being cyclical – it goes through changes and ups and downs. But many homeowners and sellers may be surprised to find out that the Manhattan real estate market is actually […]
Many homeowners have one big asset in their pocket: real property. They can use that asset to help them financially. Options for tapping home equity are HELOCs, home equity loans, refinances, and reverse mortgages. HELOCs With a home equity line of credit (HELOC), homeowners can borrow money against the equity in their home. Opening a line of […]
Decluttering is the first step in getting the home ready for buyers. Seniors, particularly those who’ve lived in their home for years, have a lot of stuff. And much of it is precious to them; it’s certainly not “clutter”! But buyers will likely see it as such. To gain a different perspective, it’s helpful to […]
Retirement and Active Adult Communities Retirement communities are typically for older adults who are still fully capable of living alone. Some cater to “active adults,” age 55 years old and older. Types include single-family, semi-detached, condos, and townhomes. Active adult communities don’t typically offer group dining facilities or healthcare services. Whether rentals or owned properties, common features include: […]
Information provided by Claddagh Capital LLC What is a Cap Rate and why its important? A Capitalization Rate or cap rate is a metric used in commercial real estate to assess the return and risk of a property, purchased on an all-cash basis or unleveled (no mortgage). The cap rate is used on an unleveled […]
Quite a few of our clients are considering selling their Brooklyn houses, and if you’re in that same boat, now is a great time to do a little prep work. Here are a few home-improvement tips we recommend to get your house ready now, and sell later: 1. Embrace Spring Cleaning Now is that special […]
Brooklyn Real Estate Market Report 2022. Courtesy of the Brooklyn Home Team at Keller Williams Realty Empire in Brooklyn NY. Need Help? Contact Us anytime. Last updated on 7/26/2022. Market Snapshot Happy Summer from BHT! Hopefully you’ve been enjoying the warm weather and sun filled activities. Here at BHT we’ve been enjoying the Summer and […]
Answer provided by Neil B. Garfinkel REBNY Broker Counsel Partner-in-charge of real estate and banking practices at Abrams Garfinkel Margolis Bergson, LLP Answer: “Off-market” commonly indicates that the property is not listed for sale or has not been listed on a multiple listing service. REBNY and most MLS’s expressly forbid the promotion of exclusive listings […]
Answer provided by Rafael Reyes, Originating Branch Manager at Cross Country Mortgage LLC. Do you want lower monthly payments now or do you want to pay off your home faster? That’s one of the primary questions to answer when deciding between a 30-year fixed mortgage or a 15-year fixed mortgage. 15-Year Mortgage You have 15 […]
If you’re living in America, then you already know about the rising gas prices, rising inflation, and rising energy costs. At this point, you’ve probably already seen your utility bills come in higher than normal. We recently received an email from ConEd with some good tips on how to prepare for rising energy costs and […]
Information provided by Neil B. Garfinkel, REBNY Broker Counsel, Partner-in-charge of real estate and banking practices at Abrams Garfinkel Margolis Bergson, LLP Many residential buildings in NYC have pet restrictions and policies such as “no pets,” “no dogs,” “cats only,” etc. While pets are not a protected class under the Fair Housing Act (“FHA”), a […]
The team has recently been discussing a lot of different things and in our conversations we usually discover some really cool topics, tools, resources, etc. With that said, in our last few meetings we’ve been speaking about what’s happening in the economy and the importance of having an emergency fund. With mortgage rates rising, inflation running […]
We’ve been monitoring the market closely and discussing several topics that affect NYC homebuyers. So, whether you’re looking to buy a property now, or 3 years from now, this information should be insightful. Something we’ve learned about recently is a new strategy that sellers are using in order to make their properties more attractive. It’s called […]
Hi all, hope you’re doing well! We just wanted to share some information that we thought you might find helpful. We’ve been monitoring the market closely and discussing several topics that affect NYC homeowners so if you are a Brooklyn homeowner, you may find this data insightful. First thing we wanted to share is a […]
There are six major issues in getting from contract to close in Brooklyn NY. These are the “moments of truth that put transactions at the greatest risk. Knowing these is critical, but also knowing the certain ways in which they can go wrong is equally critical. Above all others, your agent and your real estate […]
If you’re thinking of selling a coop in Brooklyn, you may be wondering what documents are needed and what you will have to have ready for your agent in preparation for the sale. You won’t need too many documents, but there are some things that you’ll want to start gathering in order to avoid any […]
FHA is a popular loan option for many Brooklyn home buyers, however, it is important that the home meets their guidelines. HUD is looking to cover three main points in their inspections: 1. Safety Protect the health and safety of the occupants. 2. Livability Adequate floor plan, bath, kitchen facilities, etc. 3. Soundness Correct physical […]
Brooklyn Real Estate Market Report Q1 2022. Courtesy of the Brooklyn Home Team at Keller Williams Realty Empire in Brooklyn NY. Need Help? Contact Us anytime. Last updated on 4/25/2022. Market Snapshot Happy Spring from BHT! Hopefully you’ve been enjoying the weather as it begins to warm up ? Here at BHT headquarters we’ve been […]
Curious what your home is worth? Need a Price Opinion for a property that you inherited? Need a valuation for the purposes of settling a divorce? Thinking of selling to a family member and need a realistic valuation in order to determine a fair sale price. Whatever the situation is, if you are looking for […]
Answer provided by Neil B. GarfinkelREBNY Broker CounselPartner-in-charge of real estate and banking practices at Abrams Garfinkel Margolis Bergson, LLP Question: It is my understanding that the Housing Stability and Tenant Protection Act (“HSTPA”) generally prohibits deregulation of rent stabilized apartments (meaning that a rent stabilized apartment will never become a free-market rate apartment). Does that […]
Brooklyn Investors continue to choose multi family homes, and it is no surprise considering the many benefits that come with them. Everything from their higher income potential to their ease of financing mean that investing in these properties is a smart move. If you are considering purchasing a multifamily property for the first time, you […]
Hi Friends, hope all is well! This month we wanted to share a few cool things specifically relevant to NYC homebuyers. First, an article on how to make a budget that fits your money personality. You can find out your money personality using the quiz in the article. Not everyone is good at budgeting, but […]
Hi Friends, hope all is well! This month we have some cool things to share with you 🙂 First, we have a good article on the difference between a basement and a cellar. If you own a home in NYC you may be calling your ground level a basement when indeed it is a cellar. […]
Answer provided by Neil B. Garfinkel, REBNY Broker Counsel, Partner-in-charge of real estate and banking practices at Abrams Garfinkel Margolis Bergson, LLP Answer: The Housing Stability and Tenant Protection Act of 2019 (“HSTPA”) created a specific time frame and procedure for landlords to follow when returning a tenant’s security deposit at the end of a lease […]
NYC Homeowner Connect Hi Friends ?, hope you’re doing well! This month we wanted to share a few important things with you. First is information about the Notice of Property Value for your property which you should have received in the mail this month. Second, some information related to the age old question, is now […]
If you’re an NYC homeowner, then you know that your annual Notice of Property Value (NOPV) comes out around February. In this NOPV, it indicates your property’s estimated market value and tax assessed value for the upcoming year. In the NOPV, it gives you instructions on how to challenge your assessment, if you disagree with […]
We meet with home buyers and sellers every day, and one of the things that many people don’t understand clearly are title companies, title insurance, and how they affect them during the sale/purchase of a property. So, here is a quick primer on Title Companies, what they are, and what they do. If you have […]
Answers provided by Neil B. Garfinkel, REBNY Broker Counsel, Partner-in-charge of real estate and banking practices at Abrams Garfinkel Margolis Bergson, LLP FAQs: Q: Is a buyer always entitled to be represented in a transaction?A: Yes, the New York State Department of State (“DOS”) has consistently stated that a buyer always has a right to be represented in […]
Answer provided by Neil B. Garfinkel, REBNY Broker Counsel, Partner-in-charge of real estate and banking practices at Abrams Garfinkel Margolis Bergson, LLP Answer: If a co-op building has a Ground Lease (also known as a Land Lease), it means that the co-op corporation does not own the land under the building. Rather, the co-op corporation leases […]
Answer provided by Neil B. Garfinkel REBNY Broker Counsel, Partner-in-charge of real estate and banking practices at Abrams Garfinkel Margolis Bergson, LLP Question: After Submitting a Board Package, is it Legal for a Coop to request that Additional Maintenance be Held in Escrow? Answer: Yes, a cooperative corporation (“co-op”) may request extra maintenance to be […]
Brooklyn Real Estate Market Report: Q3 2021. Courtesy of the Brooklyn Home Team at Keller Williams Realty Empire in Brooklyn NY. Need Help? Contact Us anytime. Last updated on 10/21/2021. Market Snapshot Months Supply What is Month’s Supply? Months of supply is the measure of how many months it would take for the current inventory […]
Brooklyn Real Estate Market Report: Q2 2021. Courtesy of the Brooklyn Home Team at Keller Williams Realty Empire in Brooklyn NY. Need Help? Contact Us anytime. Last updated on 7/29/2021. Months Supply What is Month’s Supply? Months of supply is the measure of how many months it would take for the current inventory of homes […]
Brooklyn Real Estate Market Update: Q1 2021. Courtesy of the Brooklyn Home Team at Keller Williams Realty Empire in Brooklyn NY. Need Help? Contact Us anytime. Months Supply What is Month’s Supply? Months of supply is the measure of how many months it would take for the current inventory of homes on the market to […]
Brooklyn Real Estate Market Analysis 2020. Courtesy of the Brooklyn Home Team at Keller Williams Realty Empire in Brooklyn NY. Need Help? Contact Us anytime. Market Snapshot Months Supply What is Month’s Supply? Months of supply is the measure of how many months it would take for the current inventory of homes on the market […]
Brooklyn Real Estate Market Report: Q3 2020. Courtesy of the Brooklyn Home Team at Keller Williams Realty Empire in Brooklyn NY. Need Help? Contact Us anytime. Market Snapshot Here we are, just wrapped up the third quarter of the year and we are heading into a very uncertain fourth quarter. Now that we are 6 […]
Brooklyn Real Estate Market Report – Q2 2020. Courtesy of the Brooklyn Home Team at Keller Williams Realty Empire in Brooklyn NY. Need Help? Contact Us anytime. Q2 has officially ended and although the numbers are startling, they were also expected considering the stay at home orders and overall impact of COVID-19. As we look […]
Brooklyn Real Estate Market Analysis 2020. Courtesy of the Brooklyn Home Team at Keller Williams Realty Empire in Brooklyn NY. Need Help? Contact Us anytime. Market Snapshot Months Supply What is Month’s Supply? Months of supply is the measure of how many months it would take for the current inventory of homes on the market […]
Brooklyn Real Estate Market Report JAN 2020. Courtesy of the Brooklyn Home Team at Keller Williams Realty Empire in Brooklyn NY. Months Supply What is Month’s Supply? Months of supply is the measure of how many months it would take for the current inventory of homes on the market to sell, given the current pace […]
Brooklyn Real Estate Market Report DEC 2019. Courtesy of the Brooklyn Home Team at Keller Williams Realty Empire in Brooklyn NY. Months Supply What is Month’s Supply? Months of supply is the measure of how many months it would take for the current inventory of homes on the market to sell, given the current pace […]
Brooklyn Real Estate Market Report OCT 2019. Courtesy of the Brooklyn Home Team at Keller Williams Realty Empire in Brooklyn NY. Months Supply What is Month’s Supply? Months of supply is the measure of how many months it would take for the current inventory of homes on the market to sell, given the current pace […]
New Construction Pros and Cons You may be considering a new house or condo, but aren’t sure you’re totally willing to wait for one to be finished. If only there were a place you could get an overview of the pros and cons of buying new. Wait, there’s a list below! Pros of New Construction: […]
Brooklyn Real Estate Market Report AUG 2019. Courtesy of the Brooklyn Home Team at Keller Williams Realty Empire in Brooklyn NY. Market Snapshot Summer is almost over and a lot of people seem to be taking their end of Summer vacations. On the real estate side, things do tend to slow down a bit in […]
Article courtesy of Michael Longsdon at eldorfreedom.net Most seniors find downsizing an overwhelming experience. It isn’t always easy to search for the right home for your needs, as well as deciding what to take with you. A smaller home presents space and storage issues that require selecting the most important items to bring along and […]
Your new house is pretty awesome, otherwise you would never have considered buying it. But, there are some things about it that are a lot more awesome than others. Take, for example, that kitchen floor. You wouldn’t say it’s ugly, but you’ve seen better design harmony in a restaurant trash bin. It’s gotta go. Your […]
Brooklyn Real Estate Market Report July 2019. Courtesy of the Brooklyn Home Team at Keller Williams Realty Empire in Brooklyn NY. Market Snapshot Hello Summer, Goodbye Spring! As we write this the weather is 96 degrees outside so as you can imagine, people are barbecuing, going to beaches, dipping into pools, etc. As for us, […]
Depending on where you live, the end of winter means different things. Maybe it’s the anticipation of an explosion of colorful wildflowers, or maybe it’s just a break from all the heavy, wet snow on absolutely everything. Either way, those warming days when winter starts to turn to spring are ideal for checking your roof […]
Brooklyn Real Estate Market Report June 2019. Courtesy of the Brooklyn Home Team at Keller Williams Realty Empire in Brooklyn NY. Market Snapshot Summer is officially here, but unfortunately mother nature didn’t get the memo 🙂 So far we’ve seen fairly mild temperatures and most people are just craving a nice beach day in the […]
You’re a homeowner now, you can kiss bland uniformity goodbye the moment you turn your apartment keys over to your now former landlord. The world is your canvas — at least, that part of the world that you now are obligated to pay a monthly mortgage payment on — and you’re the artist that’ll mold […]
Brooklyn Real Estate Market Report May 2019. Courtesy of the Brooklyn Home Team at Keller Williams Realty Empire. Market Snapshot According to the Brooklyn Board of Realtors, the number of home sales rose to 193 in April. That’s UP 8.4% from March, but DOWN 7.2% compared to April of last year. As for home prices, […]
You bought your house because of the beautiful yard, the unbelievable hearth in the den, the two generous bathrooms and, of course, the enormous basement. You had big plans for that basement — it was going to be a home theater with a pool room, all very posh, but the first melt of winter had […]
Brooklyn Real Estate Market Report April 2019. Courtesy of the Brooklyn Home Team at Keller Williams Realty Empire. Market Snapshot Q2 has officially ended and although the numbers are startling, they were also expected considering the stay at home orders and overall impact of COVID-19. As we look at the sales data from the second […]
10 Steps to Selling your Home For Sale by Owner in Brooklyn NY. Courtesy of the Brooklyn Home Team at Keller Williams Realty Landmark II. Have a questions, Contact Us anytime. 347-846-1182 1. Define your goals, wants, needs and expectations. A good place to begin is by exploring your short and long term goals in […]
It’s finally spring! Time to break out the grill and the patio set and spend your evenings cooking out under the stars. Except, you don’t have a patio, you have a backyard that’s currently a soppy, muddy mess from spring rainstorms. You’d love to get outside, but it’s just so mucky and sticky out there. […]
Welcome to our Brooklyn Real Estate Market report for the month of March 2019. Provided by the Brooklyn Home Team at Keller Williams Realty Empire. Brooklyn Real Estate Market Insights According to the Brooklyn Board of Realtors, the number of home sales DROPPED to 164 in the month of February. That’s DOWN 24.4% from January […]
Brooklyn Real Estate Market Report Feb 2019. Provided by the Brooklyn Home Team at Keller Williams Realty Empire, a group of friendly, service driven real estate agents in Brooklyn NY. Brooklyn Market Insights Here are just a few of the Brooklyn real estate numbers we’re tracking for you right now. According to the Brooklyn Board […]
In 1986, Tom Hanks starred in a movie called “The Money Pit.” It was all about a couple’s adventures in remodeling what has to be the worst house ever. Even though it was a comedy, if you’ve ever been part of a big remodel, some of the situations the co-stars find themselves in (re: the […]
All homes have quirks that require special care and consideration, but when it comes to homes with basements, it’s a whole different ball game. Instead of fighting with the light switch on the north wall, you’re trying to keep the carpet dry and catch any water long before it becomes a problem. Waterproofing the basement […]
Brooklyn Real Estate Market report January 2019, provided by the Brooklyn Home Team at Keller Williams Realty Empire. Market Insights Here are just a few of the Brooklyn real estate numbers we’re tracking for you right now. According to the Brooklyn Board of Realtors, the number of home sales DROPPED to 195 in the month […]
1. Public Records and Data Research A local Brooklyn Realtor is able to compile property records with additional data to see a clear legal picture of your physical property and legally recorded documents that could affect the value. Licensed Brooklyn Real Estate Agents are able to increase their resources as well by working with other professionals […]
Brooklyn Real Estate Market Report December 2018, provided by the Brooklyn Home Team at Keller Williams Realty Empire. Need help? Contact Us anytime. Market Snapshot Home sales have remained pretty consistent for most of the year. Overall, they have been below year ago levels, but not very significantly. In November there were 201 properties sold, that […]
For a lot of home buyers, buying their dream home means choosing an older structure that has passed the test of time. These grand places have an undeniable charm about them, with classic styling that can be adapted to nearly any taste. Older homes can be incredible places to live and love, but no home […]
Step by step guide to a mortgage pre-approval in Brooklyn NY. Have questions? Need help obtaining a pre-approval? Feel free to Contact Us anytime. If you find yourself sitting in a strange hallway, waiting for a stranger in a suit to size you up and decide if you’re worthy as your palms sweat and your […]
Brooklyn Real Estate Market Report November 2018, provided by the Brooklyn Home Team at Keller Williams Realty Empire. Need help? Feel free to Contact Us anytime. Market Snapshot It’s November and the holiday season is upon us. Three quarters are in the books and we are one month into the last quarter of the year. So far […]
Shopping for a house can be stressful, but choosing a loan has the potential to be just as bad. There’s a lot to know, a small window in which to figure it all out and a 30 year commitment to a loan product that might just not be right for you for to worry about. […]
You’ve been a homeowner for a while now and overall, everything’s gone pretty well. Your home is a comforting, safe place that has given more than it has taken — you’re pretty happy with how that purchase has gone, really. That’s why when your friend was talking about the frightening amount of rent he’s paying […]
Look for Creepy Crawlers Termites and other insects aren’t just annoying to have in your home. They can cause real damage to the structure. A regular inspection of your property by a pro can head off at the pass any problems before they become too serious. A routine inspection of the interior of your home, […]
Where there’s smoke… If you’re like most people you don’t give your fire extinguisher a second thought… until you need it. Give yourself real peace of mind by performing a quick visual inspection, checking the pressure, and making sure that your fire extinguisher is in an accessible place should you need it in a hurry. […]
