Where Are My Fellow New Yorkers?

I feel kind of lonely.  As loan officer for a mortgage banker here in New York, I am amazed that very few posts are by New York realtors or mortgage brokers.  Of course I do not read every post, but for some reason New Yorkers do not seem to participate.  My unscientific survey of Activerain would put participation by New Yorkers in the bottom 10% of all states even though it is the third most populous state.  I cannot figure out why.  If some one can explain this to me I would be grateful

I enjoy the insights and knowledge I get from others throughout the country.  However every market has its own peculiarities, customs and economics and I cannot share those with other New Yorkers.  By my observation, it seems that Florida has the most participation, which is not surprising because it is the fourth most populous state and a lot of turmoil in the real estate market.  California has the second most participation due to being the most populous state and also with a tumultuous real estate market

The biggest difference I have found between New York and the rest of the country when it comes to real estate transaction is the fact that it is so lawyer driven.  This is not surprising since New York has probably more lawyers per square foot than anywhere in the country.  Our customs are different also.  On virtually all transactions both the buyer and the seller have their own attorneys.  In fact, it is the seller’s attorney that prepares the real estate contract and holds in escrow any down payment.  In New York, a realtor cannot prepare the contract.  The New York bar considers it practicing law without a license if anyone representing either the buyer or seller, other than a lawyer, prepares the real estate contract.  In addition, the lender will choose an attorney to handle the closing.  The title company has a very small role in a New York closing.  Other than insuring title, all it will do is take the checks issued by the closing attorney to pay off the old mortgage, pay property taxes, filing fees, etc.  You need a big room to handle a New York closing.  There are three attorneys (for the buyer, seller and closer) the buyer and seller, 2 realtors and the title company.

There is virtually nobody that posts on Activerain about the problems or insights about New York real estate transactions.  By the way, although I am based in New York, the mortgage bank I work for is licensed in Florida, New Jersey, Pennsylvania and Delaware.  Hint, hint.  I can use the company.