Michala Monroe
Interior Designer
M | Monroe Design LLC
T - 518.330.3655
Friday, January 27, 2017
General Contractor
From completely changing your new apartment's layout and sound proofing your walls to hanging up ornate window treatments and changing doorknobs. We've personally worked with Jamal and welcome you to learn about his expertise.
Jamal Elnatour
General Contractor & Vice President
Dynamic Construction
M – 646-724-6161
Title Insurance
Title insurance is available for a condominium, just as it is in a house on it's own parcel of land. You should get title insurance on your condo because it protects your property and interests. Often times lenders will require title insurance prior to closing so as to insure their interest in the condo.
Ruanna Sakols
Insignia National Title Agency
6 East 39th Street - Suite 700
New York, NY 10016
T – 212-465-0777
M – 347-875-7346
F – 212-465-0771
Property and Casualty Insurance (Residential and Commercial)
Pamela Brenner
Cohen Partners, LLC
104 West 40th Street, Suite 1001
New York, NY 10018
M - 201-486-5629
F - 212-661-0538
Friday, January 13, 2017
Thursday, January 12, 2017
Insurance Broker
Insurance Broker
Pamela Brenner
Cohen Partners, LLC
104 West 40th Street, Suite 1001
New York, NY 10018
M - 201-486-5629
F - 212-661-0538
Attorneys
Jonathon
S. Feinsilver
Attorney-
at Law
Jonathon
S. Feinsilver, P.C.
111
John Street
New
York, NY 10038
T - (212) 693-5806
F - (212) 330-8018
Neil B. Garfinkel, Esq.
Abrams Garfinkel Margolis Bergson
237 W 35th St, New York, NY 10001
T - 212-201-1173
M - 516-457-1963
Alan
J. Perlowitz
Chaves & Perlowitz LLP
Chaves & Perlowitz LLP
111
John Street, Suite 312
New
York, NY 10038
Direct
Dial:
Facsimile:
646.430.8459
Marcia
E. Fokas, Esq.
Real
Estate Attorney
the
MAHER group
370
Lexington Avenue, 24 Floor
NY,
NY 10017
212-732-9867
fax
212-732-2953
Ross
M. Levine
Schwartz, Levine & Kaplan, PLLC
880 Third Avenue, 13th Floor
New York, New York 10022
Phone: 212-752-3380
Fax: 212-813-1454
Mortgage Brokers & Bankers
Stephan Hagege
Private Mortgage Banker
Wells Fargo Home Mortgage
530 5th Avenue
New York, NY 10036
T – (212) 805-1685
M – (914) 417-9001
Norman Calvo
Division Senior Vice President
Freedom Mortgage
16 Court Street, 15th Floor
Brooklyn, NY 11241
O: (718) 210-1140
Jacqueline Frank
VP of Mortgage Lending
Guaranteed Rate
750 Lexington Ave 4th Floor
New York, NY 10022
O: (212) 318-9412
M: (917) 405-6661
jacqueline.frank@rate.com
VP of Mortgage Lending
Guaranteed Rate
750 Lexington Ave 4th Floor
New York, NY 10022
O: (212) 318-9412
M: (917) 405-6661
jacqueline.frank@rate.com
Bill Carmack
PREMIER MORTGAGE CONSULTANT
HSBC Bank USA- Mortgage Sales
25 Nugent Street
Southampton, NY 11968 NMLS#180709
M: 516-692-0340
F: 212-704-8433
Monday, January 9, 2017
8 FAQ Buyers Ask Agents
Buying New York City real estate with a broker: 8
frequently asked questions
1. How does working with a broker benefit you?
1) It saves
you time.
2) It makes
you a more informed buyer.
3) It makes
you more competitive in a tough sellers’ market.
4) It helps
you navigate through the complicated process of acquiring a home in New York.
2. Should you have one broker from each real estate
company so that you don't miss any properties?
The Corcoran Group
cooperates (co-brokes) with most of the other agencies, sponsors, and often
directly with the owners. One call to your broker can get you the information
you need on all the properties in which you are interested.
3. But what about other companies' exclusives? How can I
see them through you if they are not your exclusives?
Corcoran is a full service company. We believe in giving
nothing less than complete service.
An exclusive listing means
that the seller of the property is represented exclusively by his or her
selling broker. You as a buyer, represented by your Corcoran buyer’s broker,
can see that property. Your broker makes the arrangements to view it. Since
exclusive listings are co-broked, you will not be missing out.
4. What about Sunday Open Houses?
A great way to see many
properties in one day is by going to Sunday open houses. (The downside is that
they are often crowded.) If you like looking on Sundays, and your broker is
unable to go with you, ask him or her to register you for the open houses you
wish to attend. When you sign in at each place, be sure to put down your name,
your broker’s name and your broker’s phone number. This way you will be
represented if you want to make an offer on any of the properties you have
seen.
5. How do I know my broker isn’t going
to miss any properties?
Corcoran has one of the
largest data bases in New York, which is updated daily and includes properties
from many different realty firms. If you would like to be a part of the
searching process, tell your broker. He or she will be happy to work with you
as a team. You can go online to the various web sites, look in the newspaper
and in the real estate magazines, and compare notes with him or her. Call or
email your broker all of the listings you find online so he or she can research
them further and make appointments for you.
6. If I am going to do the work, why do
I need a broker?
Your Corcoran broker has a
much more extensive and up-to-date data base than the public will find on
the You don’t have to. Sales commissions are paid by the seller, not the
buyer. When a property is co-brokered, the commission is shared between the
selling broker’s company and the buying broker’s company. There is no
additional out-of-pocket expense to you.
7. Buying a home is expensive; do I have to pay a broker fee?
7. Buying a home is expensive; do I have to pay a broker fee?
You don’t have to. Sales commissions are paid by the seller, not the buyer. When a property is co-brokered, the commission is shared between the selling broker’s company and the buying broker’s company. There is no additional out-of-pocket expense to you.
8. Once I find the perfect apartment,
what do I do?
Finding your dream home is
the easy part. Once you are ready to make an offer, you will really begin to
depend on your broker. Your broker will be there to
advise you every step of the way to:
- Find the right mortgage
broker to arrange the necessary financing.
- Put together a strong offer
package to be competitive in the market.
- Negotiate the price and
terms of the sale.
- Find the right attorney to
represent you.
- Assemble the best possible
board package to qualify you for acceptance.
- Coach you for the Board
interview.
- Prepare you for your
closing.
In return, we ask you to communicate with your broker to create a loyal, trusting relationship.
For this loyalty, you can expect your broker to be:
Knowledgeable . . . . . . . . always abreast of the New York City Real Estate scene.
Accessible . . . . . . . . .
. . . just a phone call away.
Available . . . . . . . . .
. . . . ready to arrange showings around your schedule.
Accountable . . . . . . . .
. . prompt and honest in all transactions.
Hard-working . . . . . . . .
. eager to search for properties until the right one is found
Buy with Jeff Nolan... it will be the best move
you make!
Thursday, January 5, 2017
Rising Rates and Buyers' Purchasing Power
Over
the Holiday I was enthralled by a classic work of cinematic art- It’s a
Wonderful Life by Frank Capra The protagonist George Bailey, played by James
Steward, sacrifices his plans of exploring the world to take over the family
business. George takes his late father’s position at the Bailey Brothers'
Building and Loan, a longtime competitor to a ruthlessly financial shark
Mr. Henry F.
Potter, the local banker and the richest man in Bedford Falls. In
the spirit of free market capitalism George is determined to keep the Bailey
Brother’ Building and Loan business alive.
Source: https://www.theatlantic.com/business/archive/2016/12/its-a-wonderful-life-banking/511592/
A
shocking comparison to today’s banking system, George Bailey often personally
knew the loan recipients, offers the working middle class a fair interest rate,
and rarely sought out to profit in excess of a high yielding return. Not much
of a business man in today’s world-George Bailey would never make it on Wall
Street. A long gone era in American both in social customs, and home loan
rates. According to It’s a Wonderful Life, George Bailey was giving out loans
to build a brand new house was and the amount? - $5,000!
 |
http://themortgagereports.com/21682/how-mortgage-rates-affect-buying-power
|
Rates have risen, Banks may not give us $1M+ loans solely on a handshake but none the less this month, I decided to outline what today’s market means for investors, buyers, and homeowners in New York.
In
applying for a loan, lenders/banks often qualify buyers using an Debt to Income
(DTI) ratio. You’re debt including your new mortgage, common charges and taxes
plus such liabilities as credit cards, student loans and revolving credit,
collectively cannot exceed 45% of your income. The bank needs to insure your
income can offset your debt obligation.
To determine your DTI, add your total monthly debt obligations including the following items:
- Car loans and leases
- Student loans
- Installment loans
- Alimony or child support
- Credit card minimum payments
- Projected mortgage payment
- Common charges, taxes and insurance
In order to determine DTI, divide your total future debt obligation by your monthly gross income[1]. As an agent, we assist in evaluating your DTI to qualify you for a co-op or condo.
FUN FACT: Did you know Co-Op Buildings look for typically 28% DTI or less, whereas Condo Buildings follow lending guidelines of 40%-45%.
Sources:
[1]. http://themortgagereports.com/21682/how-mortgage-rates-affect-buying-power
[2]. http://www.realtor.com/news/trends/top-real-estate-trends-2017/
[3].
https://www.theatlantic.com/business/archive/2016/12/its-a-wonderful-life-banking/511592/
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