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Finance So... What is NYC Real Estate Worth? And Where are we Headed?
February 19, 2016

The New York City Department of Finance has priced the “Full Market Value” of NYC to be $1,071,973,871,651 (Trillion)!   Tax Revenues to grow to over $211 Billion due to new inventory by FY2017.   Brooklyn sees the greatest growth; however, Manhattan dominates in terms of total dollar value invested.   Commercial property...

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To Rent or to Buy?
January 26, 2016

For those considering a move, the inevitable question is always whether it is better to rent or to buy. This is a particularly tough question in New York real estate, since rent prices can often seem intimidating. Why not just pay a mortgage instead? But according to research from SmartAsset.com, perhaps the question isn’t all that difficult. According to their national...

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The Fed Rate is on the Rise. Is Your Mortgage?
December 18, 2015

First, it’s important to know that the  Fed Target Rate  is less directly connected to mortgage rates. It also seems like this hike had been anticipated and mortgage rates have had time to prepare. In fact, as the Fed announced the target rate went up, mortgage rates actually moved slightly lower. This is good news, and most lenders still quote...

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How Big Is a Square Foot?
October 01, 2015

    The New York Times published an informative cover storyon how the quoted square footage of apartments is frequently “exaggerated, massaged, misrepresented and manipulated.”       I have noticed for years that sellers and landlords routinely overstate square footage. I would estimate an average embellishment of over 10...

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Renting versus Buying
August 07, 2015

  Is it better to rent or buy? The choice depends upon the goals and circumstances of the buyer.  Stories of New Yorkers purchasing in the 1970s, or even as late as the mid-to-late 1990s, and making millions on their apartments, are legion. And if you make all your payments on a 30 year mortgage, then you should have a sizable asset for your...

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