Category Archives: Buyer

Long Island NY Real Estate – What you can get house for $329K

 

  2962 Grand Ave – Baldwin,  New York

 Charming Colonial On Corner Property On Deep          40  X 122 Lot. Heated Front Enclosed Porch Plus Rear Enclosed Porch To Backyard.

 

 

 

2962 Grand Ave

  •   Price: $329,000
  •   Monthly Real Estate Tax: $507
  •   Neighborhood: Baldwin
  •   School District: Baldwin
  •   House
  • 3 Beds | 1 Bath | 1 Half Bath
  • Approximate Square Feet: 1,430
   房源最多

 效率最高

 口碑最好

Diana Wu  黛安娜吳

Email:   diana.wu@elliman.com

I used to work with the Award Winning Sales group, The Voda Group from Prudential Douglas Elliman, and now I am co-broker with Shirley Chow. We are confident that the value of service and skill we deliver is unparalleled. We pride ourselves as specialists in Manhattan real estate sales. If you want to buy, sell or lease your home, please contact us at 516-320-0231 (cell) or 516-639-6807. We can discuss your specific Real Estate needs. Thank you!

 

 

Midtown Manhattan Condo for Sale

The Platinum is Manhattan’s “signature power residence” dramatic and urban oasis in the heart of New York City. The Platinum is ultra-luxury, commercial-free Manhattan real estate in the most vibrant section of New York City. Steps away from Times Square, the striking New York Times building and within walking distance to Broadway, Rockefeller Center and world-class restaurants, grocers and cafes.This magnificent 2 bedroom 2 and ½bath home is located on the 29th floor with -to-ceiling windows, hardwood floors, Bosch and Thermador appliances, high ceilings and exotic stone floors and walls in the baths. Residents enjoy “The Zone” a full-floor dedicated a host of upscale amenities. There’s The Recovery Zone, a zen-like room containing body massage chairs with access to a soothing video and/or audio experience. The Fitness Center is expansive with state-of-the-art LifeFitness equipment. In addition, there’s indoor/outdoor Yoga studios, spa treatment rooms and spa lounge with waterfall as well as a golf simulation room. For socializing, residents can stop in the Social Sauna, Q Lounge or outdoor, landscaped terrace complete with stone fireplace.Amenities:24/7 doorman and concierge, Spa treatment room, social sauna ,spa lounge with waterfall, golf simulation room, q lounge for playing pool, outdoor landscaped terr

PLATINUM

  • Price: $2,450,000
  • Maintenance/CC: $1,316
  • Monthly Real Estate Tax: $136
  • Minimum Percent Down: 10%
  • Neighborhood: Midtown
  • Condo, Doorman
  • 2 Beds | 2 Baths | 1 Half Bath
  • Price Change: 4.26 %
  • Approximate Square Feet: 1,311
   房源最多 效率最高 口碑最好 Diana Wu  黛安娜吳Email:   diana.wu@elliman.comI used to work with the Award Winning Sales group, The Voda Group from Prudential Douglas Elliman, and now I am co-broker with Shirley Chow. We are confident that the value of service and skill we deliver is unparalleled. We pride ourselves as specialists in Manhattan real estate sales.If you want to buy, sell or lease your home, please contact us at 516-320-0231 (cell) or 516-639-6807. We can discuss your specific Real Estate needs. Thank you! 

To read more about Manhattan real estate, please click the following link:

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

–       5 Tips for Purchase 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.

 

 

Real Estate Discussion – Need Funding?

“Debt Yield – The Debt Yield Ratio is defined as the Net Operating Income (NOI) divided by the first mortgage debt (loan) amount, times 100%. The lender would enjoy a debt yield between 9.0% to 14%; a normal range cash-on-cash return on its money if it foreclosed on the commercial property on Day One. Net Operating Income or NOI is equal to a property’s yearly gross income less operating expenses. Cash-on Cash Return – For example when you purchase a rental property, you might put down only 10% for a cash down payment. Cash-on-cash return would measure the annual return you made on the property in relation to the down payment. Wealth Alliance Financial offers Construction, Refinance, Purchase and Bridge loans; our arsenal includes Portfolio and CMBS; and various sophisticated and specialized programs to provide our clients with the best method of achieving their goal, whenever possible. • Construction Rates: From 4.25% and up • Refinance/Purchase Rates: From 4.55% and up • Bridge Loan Rates: From 8.0% and up • Hard Money Rate: From 10.0% and up Contact Joseph V. Scorese – Wealth Alliance Financial Group – joe@wealthalliancefinancial.com – Call Toll Free at (855) 630-7728 http://www.wealthalliancefinancial.com/

 

Manhattan Commercial sales JUMP — Q2 2011

Depending on the report of Eastern Consolidated real estate investment service report, “The jump was due to an increase in large transactions: 25 transactions of $100 million or more closed in the quarter up from 11 in the first quarter. Most of the results show a sharp increase in volume compared to last quarter”. They also said that “The 25 sales of $100 million or more, 14 were office buildings, four were multifamily sales, five were hotels and two were land or conversion sales. Despite the jump in dollar volume, the number of transactions was the same as in the first quarter: 187. These numbers are still preliminary, some transaction data comes in weeks after the quarter closes, but these results show that the market indeed accelerated in the quarter”.

 This big jump was due to the seller coming into the market and properties price is still affordable. According to President, Daun Paris, “Investor demand for Manhattan office assets has far outstripped supply for several years, and as a result, cap rates have dropped to historic lows for this class, that is 4% – 6%, which has finally drawn sellers into the market.”

If you like to read this report, please email me at diana.wu@elliman.com. I will email you as attachment.

 

Manhattan Co-op Board – Questions and Answer

We all know when you purchase a co-op; the board has the right to “approve” or “disapprove” of any potential tenant-owners. The Board of Directors, which is elected by all of the tenant-owners of the co-op, interviews all prospective owners. They have the responsibility of protecting the interests of their fellow tenant-owners by selecting well-qualified candidates. The quality of services and the security of the building are kept at high standards. However at the same time it is also cause sellers a lot of headache.  Below is the Question and Answer provides by Jay Romano and published on July 7, 2011 and hope that helps.

Adding Term Limits to Board Members

Q Can a co-op add term limits for board members to its bylaws? Without limits, and with boards having great control over proxy voting at elections, it is virtually impossible to elect new members.

A Tracey L. Daniels, a Manhattan lawyer who represents co-ops and condominiums, said that a co-op could amend its bylaws to include term limits if such an amendment is approved by the shareholders. Amendments to the bylaws must be approved by at least a majority of the shareholders. The co-op’s governing documents often require an even greater percentage, or supermajority, which is typically two-thirds to three-quarters of the votes cast.

A Co-op Board Rejects Buyers

Q I have a co-op in Queens that I have been trying to sell since 2007. I have presented the board with a total of four buyers, and all four have been rejected, and the board will not give a reason. I have lowered my selling price again and again. And my lawyer says the board has the right to do this. What can I do?

An Eric D. Sherman, a Manhattan real estate lawyer, says that co-op boards in New York generally are not required to provide reasons for rejecting a buyer. And, unless a rejection is based upon unlawful discrimination, their decisions will not be second-guessed by a court under the “business judgment rule.” He said that in trying to determine the reason for the board’s rejections, the writer should ask the real estate agents who prepared the board applications whether they are aware of any weaknesses in the applications. The writer might also ask the managing agent for suggestions concerning the qualifications of buyers. One thing that might be making the board skittish is that the writer has been lowering the sale price. “That alone could be the basis for rejection, as boards often seek to ensure that appraised values of other apartments in their buildings are not compromised by below-market sale prices,” Mr. Sherman said. The only other option for the writer is to sue the board. Such lawsuits are difficult to win, as courts tend to give deference to board decisions.

 

NYC Real Estate – Tip on Credit

–          New late payment can drop scores over 100 points.

–          Grace Periods vary – not all lenders have them.

–          Short sales are usually reported as “Settled for less full than full balance” on reports. This could drop score over 100 points.

–          Bankruptcy remains on credit for 10 years.

–          Any collection account, even if it is for $10.00, can reduce your score over 100 points.

–          Most negative information remains for 7 years

–          Good closed credit can be removed after 2 years.

–          The higher your FICO score the more the score will reduce when new derogatory information is reported.

–          Joint accounts report delinquency on both credit holders’ accounts.

–          Not all credit scores are the same.

–          FICO Score – (Fair Isaac Company) is the most popular score used by mortgage banks.

–          Plus Score – sold by the credit bureaus to consumers for educational purposes can be up to 50 points higher than FICO.

–          Vantage Score – sold by the credit bureaus to compete with the FICO score, uses numerical and letter grades. Vantage score can be up to 200 points higher than FICO.

–          Some lenders use Vantage score but the majority don’t.

–          Other score offered online are Equifax and Credit Karma score.

–          Revolving credit is any credit that consumers can change up to the limit and pay the minimal amount. If there is no limit it is still revolving if the consumer can decide to make minimum payments.

–          Installment credit is any loan, other than mortgage, that has the same monthly payment throughout the life of the contract.

–          Seasoned credit (over 2 years old) is excellent for the scores.

–          The older the age of the account the better it is for the score

 

By North Shore Advisory – A credit Education& Restoration Company – The Credit Specialists – Tracy

To receive Tracy’s FREE cutting edge credit articles email your request to: info@northshoreadvisory.com

Other useful blog:

What Can You Buy In NYC For Around $669K? New York Manhattan

Mint 1-bedroom home in a luxury high-rise condominium that features a large balcony

212 E 47th Street, #8H, Turtle Bay

212 E 47th Street, #8H, Turtle Bay

with southern exposure and full city views” says Avi Voda of The Voda Group with Prudential Douglas Elliman, “open gourmet kitchen with stainless steel appliances, marble and limestone bathroom, and large bedroom which can easily accommodate king size bedroom set. Berti walnut pre-finished hardwood floors throughout and crystallized glass kitchen countertops. Custom-built closets with abundant storage space. This prime full-service Midtown East building welcomes you with a glass atrium lobby, 24-hour concierge service and doorman. Relax on the 3000sf landscaped roof deck and enjoy panoramic views of midtown as well as the Chrysler Building. Work out in the world class fitness center and yoga studio designed by La Palestra or enjoy a quiet evening in the media lounge. Low monthly maintenance and move-in ready. All you need to do is turn the key! Located just steps from Grand Central Station, all major transportation lines, and great shopping and dining. On-site parking is available and pets are more than welcome”

The Condo Apartment minimum down is 10%, monthly maintenance/cc is only $535 plus $669 monthly tax. The square feet is 642 (approx). It is 1 Beds and 1 Baths at price of $669,000.

View my profile and other properties and contract signed listings at: http://www.elliman.com/real-estate-agent/diana-wu/4623. We pride ourselves as specialists in condominium and co-op sales in Manhattan.For more info, please contact me at diana.wu@elliman.com or 516-320-0231 (Diana), I will email you more info

Other Useful Topical:

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

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

Why need pre-approval before search house

Why you need to do pre-approval before you search the property. Below are several reasons:

-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

Manhattan Real Estate Market is very unique. The entire purchase process is different than anywhere else in the world. If you are interesting to have a FREE consultation, if you have any question about sell real estate in Manhattan, contact me directly Diana Wu at 516-320-0231 (cell) or emial me at diana.wu@elliman.com, I work for The Voda Group, the  AWARD-WINNER group from Prudential Douglas Elliman.

To learn more about our custom-designed marketing plans, visit my website at:  http://www.elliman.com/real-estate-agent/diana-wu/4623 to receive a complimentary valuation of your home, or to discuss any real estate related topics, please contact us today.

Other useful topical:
What You Can Get For Your Money – The Neighborhoods of Manhattan
5 Tips for Purchasing Real Estate in Manhattan
Manhattan Real Estate Glossary – Types of Rooms
Renting vs. Owning
New York, Manhattan Neighborhood – some mistakes the 1st time buyers will make
Manhattan Renters — Tips for Reinforce Credit Score to Buy your Dream Home

Real Estate Volume Manhattan vs. Good time to buy

Now is the good time to buy. Smart investors always buy the real estate in the down market. The 1st quarter of the average price of an apartment in Manhattan fell in the first quarter, but we didn’t see the volume of the real estate business compare to the year of 2010. So the question is where are those buyers? According to the latest Spending and Saving Tracker from American Express, more than two in five (41 percent) of Americans said that it’s a buyer’s market for real estate. However, over 61 percent agree that a seller’s market is at least a year away. Also tight credit and a lack of the new construction were other issues.
Real estate is a long-term investment opportunity. In this shifting real estate market, you may be able to purchase investment real estate that will secure your financial goals for the long term. If you want to invest real estate in Manhattan, now is the good time to buy. Interest rate is still very low. There are plenty inventories available. Prices have adjusted so homes more affordable than before. And now no one argue about the homes’ value. One thing is for sure, the market will be returning. Manhattan real estate will boom another 20 years. Warren Buffett said, everyone sells he buy, everyone buys he sell. Therefore don’t wait the last minute to follow the crew to buy the real estate. You will lose the chance to get the nice apartment in a best price.
Manhattan Real Estate Market is very unique. The entire purchase process is different than anywhere else in the world. If you are interesting to have a FREE consultation, if you have any question about buy or sell real estate in Manhattan, contact us directly Diana Wu at 516-320-0231 (cell) or email me at diana.wu@elliman.com, I work for The Voda Group, the 2010 AWARD-WINNER from Prudential Douglas Elliman.

To learn more about our custom-designed marketing plans, visit my website at:  http://www.elliman.com/real-estate-agent/diana-wu/4623 to receive a complimentary valuation of your home, or to discuss any real estate related topics, please contact us today.

Other useful topical:
What You Can Get For Your Money – The Neighborhoods of Manhattan
5 Tips for Purchasing Real Estate in Manhattan
Manhattan Real Estate Glossary – Types of Rooms
Renting vs. Owning
Manhattan Real Estate – Signs of the weakness in the beginning of 2011