real estate: Tighter Mortgage Standards
- 06/14/08 09:19 AM
With almost two-thirds of U.S. banks having raised their standards for mortgages to their most creditworthy borrowers, three-fourths of U.S. Banks made it more difficult for people with limited or bad credit to get loans. According to a June 11 report by the Washington-based Mortgage Bankers Association, eighteen percent fewer mortgages will be written this year compared with last. However obtaining a mortgage is not impossible. Mortgage lenders are interested in traditional mortgage buyers who can document their income and assets and don't have sizable debts relative to their income. Potential buyers can no longer put 10 percent down. Most banks … (0 comments)
real estate: SUMMER IN NEW YORK CITY
- 06/14/08 08:46 AM
Whether you live in New York City, you're in New York City searching for a new home or just visiting, you cannot afford to miss the joys of this amazing metropolis in the summer. From Bryant Park to Lincoln Center, Central Park, Hudson River Park, Uni0on Square Park and many others, there are musical performances and free outdoor films (including the HBO Bryant Park Film Festival and RiverWalk Film Festival) beneath the stars all summer long. Amazing concerts such as: • Central Park Summerstage Free!Frequent summer concerts at the Central Park Summerstage, located at Rumsey Playfield. Some … (1 comments)
real estate: Living Green
- 06/14/08 06:40 AM
While new developments in Manhattan are becoming more environmentally conscious, there is a new "green" architectural beauty, which will be home to 251 condominium residences with expected occupancy in 2008. Designed by Pelli, the green building will utilize natural and environmentally safe building materials throughout. From eco friendly paints, pesticide free rooftop gardens to the custom bamboo cabinets and wood flooring that was harvested in accordance with the Forest Stewarship Council. Of course, this is just one new development. No matter where you purchase your new home in Manhattan or anywhere else in the country, you can still live "green." For … (0 comments)
real estate: Manhattan Real Estate Slower, But Still Not In A Slump - It's A Good time For Buyers
- 05/10/08 10:27 AM
Foreclosures across the country are increasing in numbers, but not in Manhattan. The reason is partly due to closings at 15 Central Park West and The Plaza, and partly because of the increase of foreign buyers. Additionally there has been activity from domestic buyers with new Manhattan developments. The median sales price of Manhattan condo, co-op and cond-op apartments dropped in January from the month prior to $850,000 from $928,378 - a 9.2 percent change According to Wells Fargo Economics, the April 2008 economic data showed a fair amount of economic stabilization, suggesting the slump hasn't gained much momentum. … (0 comments)
real estate: Various Types Of Manhattan Residential Ownership
- 01/22/08 08:14 AM
Cooperative This type of home ownership, is when one owns shares of stock in a corporation that owns the building. These shares are considered "personal property" similar any other shares of stock. For tax purposes, the IRS has recognized this form of ownership and under normal circumstances any mortgage interest incurred by an owner is considered tax deductible. The corporation (Coop) issues to each shareholder a "proprietary lease" which gives the shareholder the right to occupy their specific apartment. In addition, the corporation elects a board of directors who are responsible for overseeing the daily operations of the building, enforcing the … (0 comments)
With so many global buyers coming to Manhattan to purchase apartments, it's a great time to enjoy a Manhattan ritual and participate in NYC Restaurant Week. To sample restaurants in a neighborhood you might be thinking of moving to, take advantage of NYC Restaurant Week Winter 2008 ... The Best Restaurants ... The Best Prices! For ten days in January and ten days in June/July, more than 100 of New York City's top restaurants offers three course lunches for $24.07 and … (1 comments)
real estate: 15 Tips for Packing Like a Pro When Moving To Your New Home
- 01/20/08 08:07 AM
1. Plan ahead by organizing and budgeting. Develop a master "to do" list so you won't forget something critical. To estimate costs, get quotes from two or three reputable movers.2. Sort and get rid of things you no longer want or need. Have a garage sale, donate to a charity, or recycle.3. Don't throw out everything. If you're inclined to toss it, you're probably right. But one can go overboard in the heat of the moment. Ask yourself how frequently you use an item and how you'd feel if you no longer had it. That will eliminate regrets after your move.4. … (0 comments)
real estate: Happy New Year to my Rain colleagues and to all my readers and clients!
- 01/06/08 04:47 AM
Happy New Year to all! One of the best places to ring in the New Year is New York's Times Square. And this year marked the 100th New Year's Eve ball drop in Times Square complete with a dazzling display of new environmentally-friendly lights. Below is close up shot of the crystal ball Considered to be "the crossroads of the world' hundreds of thousands packed together like sardines watched while New York City Mayor Michael Bloomberg released the ball a minute to midnight. At the very stroke of midnight, fireworks lit up the sky and tons of confetti poured down over one million people, as … (0 comments)
real estate: Apartment Building Holiday Tipping
- 12/02/07 10:30 AM
The holiday season is fast approaching and it's time to start thinking about tipping for services in our apartment buildings. For those living in New York, holiday tipping can seem endless. While it's important to be generous, it's also important to be realistic about what you can afford. Tips in decent class buildings (not Park and Fifth Avenues) run between $20 and $300, and it's not uncommon for supers to accumulate well into the five figures. Porters and doormen see anywhere between $2,000 and $10,000, depending on the size of the building. Holiday tipping is a way to say ‘thank you' for services. And it's … (0 comments)
real estate: 2nd Quarter 2007 Market Report - Manhattan
- 07/07/07 10:03 AM
The average sale price for Manhattan apartments set a new record in the second quarter, reaching $1,300,212. This figure was 7% higher than a year ago. The median price also reached a new high, and at $840,000 was up 11% from the second quarter of 2006. Demand for apartments has surged over the past few months, indicated in the 31% increase in the number of closed deals in the second quarter of 2007 from a year ago. At the same time, the supply of available apartments has fallen, which has led to sharp increases in prices. At $1,132,726, the average sale price for … (1 comments)
With almost two-thirds of U.S. banks having raised their standards for mortgages to their most creditworthy borrowers, three-fourths of U.S. Banks made it more difficult for people with limited or bad credit to get loans.
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