Brooklyn Real Estate Market Report: Q1 2024

Last Updated on April 24, 2024 Brooklyn Real Estate Market Report: Q1 2024, a quarterly report produced by the Brooklyn Home Team at Keller Williams Realty Landmark II. Need Help? Contact Us Data Source: https://www.bklynhometeam.com/wp-content/uploads/2024/04/Brooklyn-Real-Estate-Market-Report_Q1-2024.pdf Month’s Supply What is Month’s Supply? Months of supply is the measure of how many months it would take for […]

Brooklyn Homeowner Newsletter: MAR 2024

Hi all, hope you’re all doing well! Below is this month’s edition of our Brooklyn Homeowner Newsletter. In this month’s edition we cover recent changes to the Property Condition Disclosure Act, some information about squatters rights in New York, and some information on the recent NAR settlement regarding real estate agent commissions. A lot of […]

Navigating the Lock-in Effect, Tips for Brooklyn Homeowners Considering Selling

In the world of real estate, there’s a phenomenon known as the “lock-in effect,” which occurs when homeowners secure a mortgage at a substantially lower interest rate than the current average. It’s a comforting position to be in, knowing that while market rates fluctuate, your mortgage remains at a lower, fixed rate. However, this advantageous […]

What is a Concession in Brooklyn Real Estate?

In the world of Brooklyn real estate transactions, negotiations are paramount. Buyers and sellers often engage in a delicate dance to reach an agreement that satisfies both parties. One of the key terms you may encounter during these negotiations is a “concession.” But what exactly does it mean in the realm of real estate? A […]

Do All Owners need to Sign a Listing Agreement in Brooklyn NY?

In the realm of Brooklyn real estate, the process of listing a property is a pivotal step for homeowners looking to sell their homes. One of the common questions that arises is whether all owners of a property must sign the listing agreement. The answer to this question lies in various factors that are crucial […]

A Comprehensive Guide to Getting a Free Home Appraisal in Brooklyn NY

For homeowners in Brooklyn, New York, understanding the value of your property is essential for various reasons. Whether you’re considering selling, refinancing, or merely curious about your home’s worth, getting an appraisal or home valuation is a crucial step. The good news is that there are ways to obtain a home appraisal or valuation in […]

How Much Does It Cost to Sell a House in Brooklyn NY?

Selling a house in Brooklyn, New York involves various costs that homeowners need to consider. Understanding these expenses is crucial for accurate financial planning and to ensure a smooth and successful property sale. Here’s a breakdown of the costs associated with selling a house in Brooklyn. NYC Transfer Tax The New York City Transfer Tax […]

47 Easy Ways to Make your Home Sell Faster in Brooklyn NY

Are you looking to sell your home in Brooklyn NY, and want to speed up the process? Whether you’re a first-time seller or a seasoned homeowner, there are several easy and effective ways to make your property stand out in the competitive Brooklyn real estate market. By focusing on enhancing curb appeal, staging effectively, and […]

How should you Respond to Low Ball Offers in Brooklyn NY?

Selling a home in Brooklyn can be a stressful and emotional process, especially when potential buyers make low ball offers. A low ball offer is an offer significantly lower than the asking price, which can be frustrating for homeowners who are looking to sell their property at a fair price. However, it is important for […]

The Art of Proper Pricing: Maximizing Value for Brooklyn Home Sellers

In the dynamic realm of Brooklyn and NYC real estate, setting the right price for a property is akin to orchestrating a symphony – it requires precision, finesse, and a deep understanding of the local market. Proper pricing isn’t just about assigning a number; it’s a strategic move that can significantly impact the outcome of […]

What happens when a Brooklyn Condo Board won’t Let you Close?

By Daniel Akerman, Listing Specialist with the Queens Home Team at Keller Williams Realty Landmark II.  Many people are familiar with the fact that in New York City many properties that are purchased are in co-ops, and they are aware of the unique powers that a co-op board has in approving or denying a purchase […]

What you Need to know about Listing Agreements in Brooklyn NY

A listing agreement (or listing contract) is a binding contract entered into by the seller of a property and you, as the seller’s listing agent. There is no requirement that the listing agreement be on a specific form. However, to be legally binding it must be written in clear and unambiguous language, and it must […]

Brooklyn real Estate Market Report: Q3 2023

Brooklyn Real Estate Market Report; Q3 2023, courtesy of the Brooklyn Home Team at Keller Williams Realty Landmark II. Need Help? Contact Us *Please Note: These numbers are based on figures reported by the OneKey MLS. Brooklyn real estate sales are conducted on multiple MLSs so unfortunately this will not provide the comprehensive picture of […]

Common Contingencies in a Brooklyn NY Real Estate Contract

Contingency clauses that outline additional conditions that must be met before a sales contract is enforceable are often part of a sales contract. Both buyers and sellers can add contingencies to a contract. A contingency clause must include three pieces of information, including: The actions necessary to satisfy the contingency The time frame for addressing it […]

What is a Deed, Title, and Title Insurance?

What is a Deed? The deed is a legal document used to establish proof of ownership. It provides some assurance to the buyer that the seller has the right to sell the property. Usually a third party is hired to conduct a title search in an effort to uncover evidence that the title can be […]

Client, Customer, or Prospect, which one Are You?

In the world of Brooklyn and New York City real estate, there are specific terms used to categorize individuals involved in the buying or selling process: client, customer, and prospect. These terms may seem interchangeable at first glance, but they hold distinct meanings and implications within the industry. In this blog post, we will delve […]

What is an Escalation Clause (AKA Escalator Offer) and How does it Work?

In case you don’t know what this is, here’s the skinny: A buyer, hoping to beat out all other offers, will include an escalation clause in the offer that reads something like, “Buyer to beat all competing offers by $1,000 up to a price of $700,000. Seller to provide copies of competing offer to buyer […]

Pitfalls of Selling an Apartment in NYC

By Daniel Akerman, Listing Specialist with the Brooklyn & Manhattan Home Team at Keller Williams Realty. Need Help? Contact Dan at (646) 844-5770 Selling a home anywhere is a stressful process under the best of circumstances.  A quick search on Google for “most stressful life events” will return page after page after page of results […]

Understanding Coop Flip Tax in NYC

By Daniel Akerman, Listing Specialist with the Manhattan Home Team at Keller Williams Realty Landmark II. One of the many closing costs that sellers and buyers may come across in the sale or purchase of a New York City co-op apartment is something called the “flip tax.” In this article we’ll take a quick look […]

Will I save Money Selling my Brooklyn Home without an Agent?

Selling a house in Brooklyn can be both an exciting and nerve-wracking experience. Among the many decisions you’ll need to make is whether to enlist the help of a local Brooklyn real estate agent or go the DIY route and sell your home without professional representation. While saving money is a tempting proposition, it’s essential […]

How to Choose the Best List Price for your Brooklyn Home

Pricing a home correctly is a critical factor in the success of a real estate transaction. In the Brooklyn market, there are common misconceptions among home sellers regarding pricing strategies. This blog post aims to shed light on these misconceptions and emphasize the significance of pricing a property at or around its market value. 1. […]

What should you do to Prepare for Showings of your Brooklyn Home?

Selling a home in Brooklyn can be an exciting yet challenging process. One of the crucial aspects of successfully attracting potential Brooklyn Home buyers is ensuring that your home is presented in its best light during showings. The impression your home makes on prospective buyers can significantly impact their decision-making. To help you prepare, we’ve […]

What is a Sale Contingency and How Common are they in Brooklyn?

In the dynamic world of real estate, buyers and sellers often encounter various terms and conditions that can significantly impact the outcome of a transaction. One such condition that Brooklyn home sellers should be aware of is the sale contingency. In this blog post, we’ll delve into what a sale contingency is and highlight the […]

Common Bank Required Repairs when Selling a Home to an FHA Buyer in Brooklyn

When selling a home in Brooklyn to a buyer who is obtaining an FHA mortgage, there are certain repairs that the bank may require to ensure the property meets the minimum property standards set by the FHA (Federal Housing Administration). These repairs are designed to protect the buyer’s investment and minimize potential risks. In this […]

Brooklyn Real Estate Market Report: Q1 2023

Brooklyn Real Estate Market Report: Q1 2023, courtesy of the Brooklyn Home Team at Keller Williams Realty Landmark II. Need Help? Contact Us Data Source: https://www.bklynhometeam.com/wp-content/uploads/2023/05/Brooklyn-Real-Estate-Market_Q1-2023.pdf *Please note that this report is based on data collected from the OneKey MLS. Unfortunately Brooklyn real estate sales are conducted across multiple different MLS’s so it is not […]

How should you Respond to Low Ball Offers when Selling a Home in Brooklyn NY?

Selling a home in Brooklyn can be an emotional and stressful experience, especially when it comes to negotiating offers from potential buyers. One situation that Brooklyn homeowners may face is receiving a low ball offer on their property. A low ball offer is an offer that is significantly lower than the asking price, and can […]

How Long is a Typical Listing Agreement in Brooklyn NY?

When selling a property in Brooklyn, many homeowners choose to work with a local real estate agent to help them navigate the process. One of the key documents involved in this relationship is the listing agreement, which outlines the terms of the agent’s services and the agreement between the homeowner and the agent/brokerage. One question […]

Selling a Home in NYC

Selling a house in NYC can be a daunting task, especially in a competitive market like New York City. However, with the right approach and a little bit of knowledge, you can definitely maximize the value of your home and get it sold in a reasonable amount of time. First and foremost, it’s important to […]

Coop Selling Advice from an Experienced NYC Real Estate Attorney

Article courtesy of Rosemarie Ashbahian, Esq., DeRose & Surico, 213-44 38th Ave, Bayside, NY 11361, P: (718) 279-2000, E: rha@deroseandsurico.com Selling a cooperative apartment can be a lengthy and complicated process. With the real estate market constantly changing, it is important to have all your documents to ensure a smooth and successful transaction. When preparing […]

Bank Troubles, What happened this Week and How it affects the Real Estate Market

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 […]

Should I Price my Brooklyn Home Higher to Leave room for Negotiations?

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 […]

5 Costly Renovations To AVOID Before Selling

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.

Can I see How Much my Brooklyn Home is Worth on a Real Estate Website?

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 […]

How do we Determine How Much a Brooklyn Home is Worth?

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 […]

What should I do to Prepare my Brooklyn Home for Sale?

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 […]

When is the Best time to Sell a Property in Brooklyn NY?

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 […]

Selling a House in Probate in Brooklyn NY

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 […]

Common Real Estate Documents in Brooklyn NY

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 […]

Understanding Co-Op Flip Tax in NYC

By Daniel Akerman, Listing Specialist with Keller Williams Realty Landmark II. One of the many closing costs that sellers and buyers may come across in the sale or purchase of a New York City co-op apartment is something called the “flip tax.” In this article we’ll take a quick look at what the co-op flip […]

Mortgage Market Update: 12/2/22

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 […]

How Buyers and Sellers in NYC can BOTH save on Closing Costs

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 […]

Get your House ready Now, Sell Later

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: Q2 2022

Brooklyn Real Estate Market Report 2022. Courtesy of the Brooklyn Home Team at Keller Williams Realty Landmark ll 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 […]

6 Common Transaction Issues from Contract-to-Close

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 […]

Documents needed when Selling a Coop in Brooklyn NY

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 […]

A Guide to FHA Home Repairs in Brooklyn NY

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

Brooklyn Real Estate Market Report Q1 2022. Courtesy of the Brooklyn Home Team at Keller Williams Realty Landmark ll 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 […]

Rent Stabilization De-Regulation in a 421a Building

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 […]

What is a Title Company and what do they Do in Brooklyn NYC? 

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 […]

How Seniors Can Make Downsizing a Success

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 […]

10 Steps to Selling your Home For Sale by Owner in Brooklyn NY

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 […]

7 Tips for Saving More on Your Next Remodel

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 […]

6 Reasons why a Realtor Valuation beats an Appraisal or Online Home Value Estimate

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 […]