Have you ever calculated how an increase in mortgage interest rates actually affects your purchase in real dollars?
I have lived in ground floor apartments in NYC for the last fourteen years. In fact, we recently purchased another apartment on the – wait for it – yes, the first floor. We move in later this month, which means we are committed to first floor living for the foreseeable future – and we love […]
The 2020 Fiscal Year Budget has been adopted and includes significant changes to state Transfer Taxes and the Mansion Tax. So, what is the impact on buyer and sellers in NYC?
If you are – or know – a homeowner who is considering selling a home this year – even if you/they are leaning toward selling as a FSBO (for sale by owner) – preparation and overall strategy are key, and due diligence regarding important details such as when to list, for how much and, how should not be overlooked […]
Welcome to Part 7 of my ongoing blog series, “Purchasing an Apartment in New York City”. In Part 6 of the series – “The Bank” – I focused on the role your lending institution plays in the purchase process, assuming you are financing a portion of purchase. In Part 7, I will attempt to mentally prepare […]
Unfortunately, StreetEasy recently announced a change which is likely to jeopardize their relationship with their users (buyers and brokers alike).
On Saturday, April 1st at 2PM Eirik Gislason of Halstead Property and Unreal Estate will host the NYC Residential Homebuyer Q & A in his Union Square office at 831 Broadway. This complimentary round table event is invaluable and suitable for buyers of all stripes and experience levels. Whether you are a first time homebuyer in need of a strategy to successfully close on a primary residence, or a seasoned purchaser looking for a pied-a-terre or your next investment property, Eirik will address your questions and offer sound, expert advice.
Assuming you are financing a portion of your purchase, the bank will play an important role in the success and timing of the overall process. Therefore, it is important to have some insight into the role your mortgage professional and the bank play, and the behind the scenes process of obtaining a loan.
I am often asked by buyers, “Why does the seller care about my down payment amount? As long as I am satisfying the building’s down payment requirement, and the bank has approved the loan, aren’t they getting their money at the closing table whether I ‘put down’ 20%, 50% or 100%?” It is a very reasonable […]