Category Archives: Buy real estate in Manhattan

Manhattan Real Estate – Do you make a Right Offer?

How Do You Know You Made the Right Offer for a home?

The rules of the game here in Manhattan are very different from any other place. Therefore, doing your homework OR finding the right broker for you are very important. Our job is to help you determine what kinds of apartments and neighborhoods are suitable for you, and to guide you in regards to the property price, in order to select the best match for your real estate needs and budget.

When there is a “perfect” home comes on the market.  One of those homes that is difficult to comp.  It seems to be a little overpriced, but not grossly so. What will you do next?

  1. You can wait awhile, see it sit on the market, and watch the price drop
  2. You can make a low offer and waiting for either counter offer or rejected.
  3. Or you can overpay for the house.

Otherwise, If you are not sure that you are making the right offer for your next home in Manhattan, please hire a real estate broker who not only can help you to find perfect home for you but also help you buy it at perfect price and help you go thought all the closing process without any headache.  We are the real estate broker who studies home and price every day; we will assist you to make right decision.

There is a tip for you is, if it is a very unique home that you love so much, you may consider making full price offer right away instead later on if there is another buyer step in, then that would be either you have to pay more for the unit or become backup position.

Since in Manhattan the buyers don’t have to pay commission to your broker, why don’t you heir the broker to help you not only save your money but also hassle Free.

I have the privilege work with The Voda Group at Prudential Douglas Elliman. The Voda Group has been the top, award winning sales team at Prudential Douglas Elliman since 2003. We pride ourselves as specialists in Manhattan real estate sales.  We are confident that the value of service and skill we deliver is unparalleled. You can also view my profile, other properties and contract signed at http://www.elliman.com/real-estate-agent/diana-wu/4623.

 

 

Advertisements

NYC Real Estate – How do you get Deposit Money Back when the deal falls apart?

For protect yourself when you purchase a property, contract is the rules of the game. In Manhattan, when a “meeting of the minds” occurs, the agreement fulfills, you will be asked to sign the contract and 10% of the purchase price of deposit will require for the buyer to show good faith. This money will be held in the seller’s attorney’s escrow account until closing. How does buyer Get Deposit Money back when The Deal Falls Apart? Many buyers easily get the money back with failed inspections or they cannot secure financing because they do their homework and finding the right brokers for them. Please be more cautious if you choose to deal the whole purchase process by yourself. Otherwise the real estate broker will work for you for FREE. Only the seller will be responsible for commission of both buyer’s broker and seller’s broker.

Other useful topical:
5 Tips for Purchasing Real Estate in Manhattan

• Manhattan Real Estate Glossary – the dish on Condos, Co-ops, Condops, Townhouse & Brownstone

What You Can Get For Your Money – The Neighborhoods of Manhattan

• Renting vs. Owning

 

NYC Real Estate – Murray Hill 2 bedrooms Co-op sale for $899,000

This elegant and modern mint condition two-bedroom two-bathroom apartment was formed through the

244 Madison Ave, #12DE

244 Madison Ave, #12DE

combination of two apartments, and was completely gut renovated with high quality materials, fixtures, and finishes throughout. Perfectly suited for great city living in a prime Murray Hill location in the heart of Manhattan, this bright and sunny high floor apartment features 12 foot ceilings, oversized windows, fully restored walls and ceilings (not a single nail hole!), solid hardwood floors, new moldings, neutral white and earth tone colors, and a top quality Lutron recessed lighting system with dimmers throughout the apartment. Valuable floor space is maximized thanks to two full-sized sleep lofts made to fit queen size mattresses and additional furniture. At the same time, there’s no need for any offsite storage here, as there’s also a tremendous amount of storage space for a Manhattan apartment – seven closets (including two extra large walk-ins!) and five massive built-in storage areas.

The extra large, open kitchen area is a chef’s delight and features a porcelain tile floor, new stainless steel appliances, granite countertops, recessed ceiling and under counter lighting with dimmers, a porcelain tile backsplash, and incredible counter space and cabinet space. The bar area features a second full size sink and a stainless steel wine refrigerator, which is great for entertaining. And tucked away in a built-in cabinet are a life-changing washer and dryer so that you’ll never have to leave your apartment to do laundry again!

There are also two luxurious, spa-like bathrooms – one is full marble with a whirlpool tub, and the other is full tumbled porcelain with a standard tub. Both have recessed lighting with dimmers, Grohe shower systems, beautiful swing-out glass shower doors, recessed medicine cabinets with built-in mirrors, and espresso wood vanities with marble countertops.

The spacious, flexible layout can suit a variety of living situations, from singles to couples to families with children to friends or siblings co-purchasing. A solid hardwood pocket door ensures total privacy between the living areas, and the alternate entrance is the perfect addition for people on different schedules or when guests are staying with you.

This lovely co-op building is perfectly located in the heart of Manhattan, and provides easy access to all of life’s needs, including shopping, dining, entertainment, transportation, and more. It’s fantastic midtown location will allow you to go anywhere in the city quickly and easily. If you work in midtown, it’s an easy walk to work, or if not, it’s just a short walk to Grand Central, Penn Station, and the major subway and bus lines. When you want to relax, it’s also in close proximity to Bryant Park, Madison Square Park, the main New York Public Library, and the Morgan Library. The building has a superb staff, including a full-time superintendent and a 24-hour doorman. Capping it all off is a beautiful new roof deck with incredible panoramic city views and an amazing view of the Empire State Building. There’s also free community Wi-Fi both in the lobby, laundry area and on the roof to help keep you connected while you unwind.

Other apartments with the same features and amenities cost hundreds of thousands of dollars more, but why spend that much for a great apartment? This beautifully renovated apartment is in fantastic condition, so there’s nothing for a new owner to do except move in and start enjoying life in their new home, without the worry and hassle of doing ANY renovation work. This is truly a rare find.

Guarantors, co-purchasers, gifts, parents buying for children, and pied-à-terres are all permitted. Unlimited subletting is permitted after two years. Sorry, no dogs. This apartment is also available furnished or partially furnished if desired. Buyer’s brokers welcome. Feel free to contact me for more information or to schedule a convenient showing.

The Co-op Apartment minimum down is 25%, monthly maintenance/cc is $1,857 (including tax). Tax deductible is 56%. It is 2 Bed and 2 Bath at price of $899,000. PressThis to read Manhattan Real Estate Glossary. For more detail, please contact me at diana.wu@elliman.com or Robert at 244madisonavenueapt@gmail.com , we will email you more info. 

Other Useful Topical:

 

NYC Real Estate – What you can get for $680,000 in Murray Hill

Sun filled and spacious one bedroom apartment located in one of the best

250 East 40th Street #12A  Highpoint - Murryhill

250 East 40th Street #12A Highpoint - Murryhill

condominium buildings in the Midtown area, The Highpoint. This apartment features your own private balcony, Western exposures, full city and skyline views, expansive closet space, and a pass through modern kitchen. The Highpoint is a full service 24 hour doorman building with a health club, pool, roof deck, laundry room, and video security. This is a great deal for a great home!

The Condo Apartment minimum down is 10%, monthly maintenance/cc is $648 plus $604 monthly tax. The square feet is 707 (approx). It is 1 Bedroom and 1 Bath at price of $680,000. PressThis to read What You Can Get for Your Money in Manhattan.

For more detail, please contact me at diana.wu@elliman.com or 516-320-0231 (Diana), I will email you more info. 

Other Useful Topical:

–          Manhattan Real Estate Glossary – the dish on Condos, Co-ops, Condops, Townhouse & Brownstone

–          What You Can Get For Your Money – The Neighborhoods of Manhattan

NYC Real Estate – What you can get $1,249,000 – Upper West Side

Here is a rare opportunity to own a pre-war 2 bedroom, 2 bathroom home in

111 W 94th St #4C

111 W 94th St #4C

the heart of the Upper West Side. Every inch of this sunny apartment has been tastefully renovated. An elegant entrance gallery leads to a bright living space with separate dining area and two generously sized master suites creating a style of living enjoyed by very few city residents. The sweeping ceilings in this distinct pre-war residence, make the large rooms feel even larger. Characterized by pre-war details, this home abounds in such delightful elements as beautifully restored doors and detailed hardwood floors, baseboard and ceiling moldings. The windowed exquisitely renovated kitchen is a gourmet chef’s dream with custom Poggenpohl cabinetry, marble countertops and state of the art appliances including wine refrigerator. The kitchen is open to a beautiful dining area ideal for family gatherings and entertainment.Other highlights include renovated windowed bathrooms, abundant light from bright North, South and West exposures, built in speakers, closets galore and a pin-drop quiet interior. High efficiency Bosch washer/dryer and electrical upgrades complete the picture. A low maintenance is an added plus!
This wonderful art deco, elevator coop is located on a quiet tree lined block steps from Central Park, Whole Foods Market, transportation, shopping and dining.

The Co-op Apartment minimum down is 20%, monthly maintenance/cc is only $1,280 (including tax). Tax deductible is 57%. It is 2 Bed and 2 Bath at price of $1,249,000. PressThis to read Manhattan Real Estate Glossary. For more detail, please contact me at diana.wu@elliman.com or 516-320-0231 (Diana), I will email you more info. 

NYC Real Estate – Condo in Turtle Bay, Manhattan

Mint Two bedroom with two full bathroom home in a luxury high-rise

212 E 47th St #10F - kitchen

212 E 47th St #10F - kitchen

condominium that features a large balcony. Kitchen with stainless steel appliances, marble and limestone bathroom, hardwood floors throughout and crystallized glass kitchen countertops. This prime full-service Midtown East building welcomes you with a glass atrium lobby, 24 hour concierge and doorman. Relax on the 3000sf landscaped roof deck and enjoy panoramic views of midtown and the Chrysler Building. Work out in the world class fitness center and yoga studio designed by La Palestra or enjoy the media lounge. Low monthly maintenance and move-in ready. Located just steps from Grand Central and all major transportation, On-site parking is available.

  • Balcony
  • Central Laundry
  • Concierge
  • Exercise Room
  • Full Time Doorman
  • Garage
  • Health Club
  • Private Outdoor Space
  • Roof Deck

The Condo Apartment minimum down is 10%, monthly maintenance/cc is $847  plus $1,085 monthly tax. The square feet is 1,006 (approx). It is 2 Bedrooms and 2 Baths at price of $1,295,000. PressThis to read 5 Tips for Purchase Real Estate in Manhattan.

Other Useful Topical:

–          Manhattan Real Estate Glossary – the dish on Condos, Co-ops, Condops, Townhouse & Brownstone

–          What You Can Get For Your Money – The Neighborhoods of Manhattan

NYC Real Estate – Murray Hill Co-op sale for $749,000

Welcome to a one-of-a-kind two bedroom loft in the heart of Murray Hill.

244 Madison Ave #3EF

244 Madison Ave #3EF

These two combined units create an artistically styled large two bedroom apartment with 14 foot ceilings and two full baths. As you enter, you walk through a large foyer with a dining area straight into the living room. The staircase leads you to the second bedroom loft. On the other half of the apartment, you will find a huge master suite with a built-in cherry wood library, dressing room, and an additional home office/walk in closet. The kitchen is equipped with granite countertops, pull out cabinets, mosaic tiles, and fairly updated appliances. The apartment features dark stained parquet floors, oversized sound proof windows, fantastic storage throughout, and a walk in closet. Murray Hill Plaza features a full time doorman/concierge, laundry room, renovated lobby with elevators, and a beautiful roof deck. Guarantors, co-purchasers, gifts, parents buying for children, and pied-a-terres are all permitted. Sorry no pet. The building is situated in the heart of Midtown/Murray Hill, and is accessible to all you need, including transportation, shopping, entertainment, and more.

The Co-op Apartment minimum down is 25%, monthly maintenance/cc is only $1,463 (including tax). Tax deductible is 56%. It is 2 Bed and 2 Bath at price of $749,000. PressThis to read Manhattan Real Estate Glossary. For more detail, please contact me at diana.wu@elliman.com or 516-320-0231 (Diana), I will email you more info. 

 

NYC real estate – Pros and Cons of FHA Loans

What is FHA loan? The definition from Wikipedia is “A FHA insured loan is a Federal Housing Administration mortgage insurance backed mortgage loan which is provided by a FHA-approved lender. FHA insured loans are a type of federal assistance and have historically allowed lower income Americans to borrow money for the purchase of a home that they would not otherwise be able to afford. To obtain mortgage insurance from the Federal Housing Administration, a mortgage insurance premium (MIP) equal to a percentage of the loan amount at closing is required, and is normally financed by the lender and paid to FHA on the borrower’s behalf. Depending on the loan-to-value ratio, there may be a monthly premium as well. The program originated during the Great Depression of the 1930s, when the rates of foreclosures and defaults rose sharply, and the program was intended to provide lenders with sufficient insurance. Some FHA programs were subsidized by the government, but the goal was to make it self-supporting, based on insurance premiums paid by borrowers. Over time, private mortgage insurance (PMI) companies came into play, and now FHA primarily serves people who cannot afford a conventional down payment or otherwise do not qualify for PMI. The program has since this time been modified to accommodate the heightened recession”.

The disadvantage to use FHA loan is:  An FHA loan may not offer enough money if you need a large mortgage. In addition, the upfront mortgage insurance premium (and ongoing premiums) can cost more than private mortgage insurance. Especial in Manhattan most properties are apartments. Not all the buildings got approval for using FHA loan. Therefore use the local mortgage broker to get better loan for you.

NYC Real Estate – An Advice for Purchasing Home

I am constantly running into prospective home buyers who want to purchase a house but they haven’t a Pre-approval letter from lender.

They talk with me to persuade me to take them out looking for a house! But when the subject of their CREDIT and MORTGAGE APPROVAL comes up, it may answer like, “I believe everything is fine, let’s just go house shopping first and after I found the property I like, I will pursue the Mortgage!” But the disappointment would be like this, those house hunters either lost the chance to purchase the home they like due to the timely of the pre-approval process or they can’t qualify for a Mortgage for this particular home that they like so much.

Why need pre-approval before search:

-Do not wasting your time
-You will know how much money that you will be eligible to borrow
-You will know what price range you can afford
-You will action quickly, when you find the home you love
Seller will be more likely to accept an offer from a pre-qualified buyer.
-If you see some errors on your credit report, you can resolve them right away

The fact is, most of us, unless we are paying cash, will need a Mortgage and Mortgage Approval! Why not deal with it up front so that the path is clear for your next home purchase. PressThis to read Tips for Reinforce Credit Score to Buy your Dream Home.

 Other Useful Article:

–          How to Get Pre-approval