condos: Name your lifestyle-Condo or Co-op?
- 12/05/22 01:19 PM
When it comes to affordability, financial profile, and lifestyle, whether an initial purchase or downsizing, everyone has different needs and wants. Some who have the finances will choose a condo or townhome for the luxury, doorman, and amenities, such as a pool, tennis, and security. However, others will choose based on the affordability that a co-op provides. Prices will obviously depend on the building and its infrastructure, financial strength, and whether one, two, or three-plus bedrooms and accompanying bathrooms suit the buyer. Co-ops can be upwards of $100,000 less, minus most of the amenities provided by a condo or townhome. Sales applications … (1 comments)
condos: Should I purchase a Co-op or Condo?
- 05/15/22 08:26 AM
As prices continue to escalate in the hottest market on record, interest rates have increased. A little explanation is necessary at this point to make everyone know the gravity of our financial situation. The most recent increase last week was 1/2 percentage point (1/4 point on 3.16.22) by Jerome Powell, our Fed chair. A while back he said that inflation would be transitory as we know how that prediction went. He should have started the increases in 2021 with1/8 of a point, anticipating the future with the supply chain the way it was morphing into an extremely challenging time. I am quite … (4 comments)
condos: Has the heated real estate market left you behind?
- 12/01/21 08:19 AM
The obviously insane increases observed in real estate prices and values lately from 17.4 percent on average across the U.S. in 2021 led the Case-Shiller Report to calculate a year-over-year rise of 19.7% in July, while CoreLogic showed 18 percent and FHFA 19.2 percent. The major reason has been a total lack of sufficient inventory. This is basic high school education of supply vs. demand economics. Low supply, higher than normal demand and historically low interest rates are allowing so many more buyers to enter the market, causing these major increases in home prices. Most important is the lack of sufficient … (1 comments)
condos: The process of a sale from start to finish
- 12/01/21 07:36 AM
By The Island Now - November 22, 2021 0 There are a number of professionals who we have to work with to coordinate our sales, from the attorneys, home inspectors, contractors mortgage brokers, and sometimes managements and co-op boards as well as our sellers and purchasers. Every once in a blue moon a structural engineer to check out the integrity of walls and foundations in a home. The coordination between the parties is tantamount and crucial, especially during the current times, to make sure the transaction heads in the right direction in an efficient and expeditious fashion so the end result will be … (0 comments)
condos: Realtor can be many things
- 03/01/21 03:26 PM
All Things Real Estate By Philip A Raices - March 1, 20210 22 Who will you be hiring when selling, investing, purchasing, renting, or leasing your residential or commercial real estate, a salesperson or a consultant, or both? Hopefully, you will find a professional who is a hybrid and represents a combination of both types. Everyone who is selling needs a salesperson to seek out the most serious, motivated, qualified income and the creditworthy purchaser who will fall in love with your home, right? But at the same time has the savoir-faire and astute knowledge to be a professional consultant by asking probing … (0 comments)
condos: Understanding the mentality of sellers, investors and purchasers
- 02/16/21 06:49 PM
Over the years as one is enscounced in the real estate business, those of us who act and conduct ourselves in a professional and transparent manner are constantly learning, absorbing and educating ourselves to expand our knowledge to better service our clients. This, in turn, becomes an extremely valuable asset and tool that we use to assist, guide and share with our sellers, investors, purchasers and tenants of residential and commercial properties. Those who choose this path of becoming educated and wiser through careful listening while practicing and performing our business to become quite adept at understanding how our sellers and … (2 comments)
condos: The Dream is Still Well & Alive!!
- 01/08/19 06:14 PM
This is the first column for the new year of 2019 and I hope everyone had some enjoyable and relaxing holiday time with your families, friends and significant others and hoping that your New Year in 2019 will be healthier, happier and more prosperous! Based on the current demand, purchasers are still out there this winter looking and searching for that perfect “white picket fence” of a dream home. But let’s be realistic, finding that letter perfect home is getting much harder these days, due to our still very outrageously low inventory (that is slowly increasing), especially below one million dollars. … (3 comments)
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When it comes to affordability, financial profile, and lifestyle, whether an initial purchase or downsizing, everyone has different needs and wants. Some who have the finances will choose a condo or townhome for the luxury, doorman, and amenities, such as a pool, tennis, and security. However, others will choose based on the affordability that a co-op provides. Prices will obviously depend on the building and its infrastructure, financial strength, and whether one, two, or three-plus bedrooms and accompanying bathrooms suit the buyer.
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