Helpful COVID-19 resources for you

NoHo, Manhattan: A Place to ‘Live and Work and Create’

A once-forgotten part of the city, the neighborhood north of Houston Street now has a vibrant retail and cultural scene — and some of the priciest housing. Living In … NoHo, Manhattan Ara Fitzgerald moved into a spacious apartment in NoHo in 1971, when the area north of Houston Street did not yet have that name and was considered dangerous territory. “It was kind of a no-man’s land,” said Ms. Fitzgerald, 73, a dancer and choreographer. But it was becoming…

U.S. Orders Up To A Yearlong Break On Mortgage Payments

Homeowners who have lost income or their jobs because of the coronavirus outbreak are getting some relief. Depending on their situation, they should be eligible to have their mortgage payments reduced or suspended for up to 12 months. Federal regulators, through the mortgage giants Fannie Mae and Freddie Mac, are ordering lenders to offer homeowners flexibility. The move covers about half of all home loans in the U.S. — those guaranteed by Fannie and Freddie. But regulators expect that the entire mortgage industry will quickly…

Easy Ways to Improve Your Home’s Value Through Curb Appeal

If you’re preparing your home for sale, it’s important to address not only the inside but the outside as well. A buyer’s first impression of your home should be welcoming and encourage them to enter the house and see themselves living there. This article will discuss some of the ways you can maximize your home’s value by working on its curb appeal.    Take a Tough Look at Your House’s Exterior   You may have many emotional attachments to your…

Annual Meetings – A Breakdown in Real Time

If you are a New York City coop or condo owner you may have received a notice to attend your building’s annual shareholder (for coops) or unit owner (for condominiums) annual meeting. These meetings tend to proliferate in May and June. Building bylaws follow guidelines that were developed under the Business Corporation Law (BCL) for coops, and The New York Condo Act for condominiums. One of these rules is that a building or community’s bylaws will dictate specifically what month…

How to Ensure Your First Home Purchase Goes Smoothly

Image courtesy of Unsplash How to Ensure Your First Home Purchase Goes Smoothly Are you preparing for your first home purchase?  Homeownership is a major investment of time, money, and energy, and without proper arrangements, it can drain your reserves.  Here is how to ensure your first go-round is a smooth and pleasant experience, rather than a stormy one.   First things first Chances are you’re excited about finding a place to call your very own, but before you begin exploring…

Numbers Are In, Here’s Your Q2 Breakdown

By Robert Varvara, The Steven Cohen Team at Corcoran Manhattan’s challenging real estate market welcomed reassuring news in Second Quarter 2019. Market-wide sales increased year-over-year for the first time in two years, up 5% annually to over 3,300 sales totaling $7 billion, about $1 billion more sold than last year. However, this information can be misleading as this increase in closed sales is due to two main reasons:  New Development Closings–  Q2 sales mainly increased due to an 82% spike in new…

Everything You Need to Know if Purchasing After July 1st in NYC

Written by: Robert Varvara, The Steven Cohen Team at The Corcoran Group As New York City continues to experience a desperate need for funds to improve vital infrastructure, legislators look to homeowners in the city’s high-end luxury market. Amid confusion and substantial opposition surrounding the ‘pied-a-terre tax’, answers finally became clear when April rolled around. The so-called “millionaire’s tax” would be an annual charge on any apartment or house in NYC valued at over $5M that serves as a secondary…

What is the State of the Market?

Written by: Robert Varvara at The Corcoran Group One question we get asked frequently as Real Estate professionals is, “what is the state of the market”? The truth is we are in reset mode, where buyers and sellers are trying to discover what value really is. The downturn has hit every facet of the market from $500,000 Co-ops to $10,000,000 Condos and it is unknown how long it will take to surpass the peaks of 3-to-4 years ago. We are…

Tips for Buying and Renovating a Fixer-Upper Home

  There’s usually an element of risk in purchasing any new property. Things are a bit different when it comes to buying a fixer-upper, a house that needs a lot of work to make it the kind of home you’ve always wanted. Most fixer-uppers are a gamble. You could end up with a dreaded money pit or a profitable investment that your own blood and sweat, not to mention money, transforms into a dream come true. The buying process is…

Helpful Tips for Purchasing the Perfect Vacation Home for Retirement

Making the leap and purchasing a vacation home is an exciting experience. It means you can visit your favorite travel destination without paying for impersonal hotels or booking accommodation months in advance. But before you settle on your dream home, make sure that it meets the needs of your family and fits your budget. Avoid Common Mistakes People who purchase a vacation home on a whim are likely to make a few mistakes. According to MarketWatch, people often put too…