Category Archives: Upper eastside

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.

 

 

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What can you buy in NYC For $520,000, Manhattan New York

Great Value says Avi Voda of The Voda Group with Prudential Douglas Elliman.

405 E 63th St. #10J

405 E 63th St. #10J

“Come see this beautiful extra large one bedroom one bathroom apartment in a post war building with open Southern city views allowing excellent light into the living room, dining room and bedroom. The state-of-the-art kitchen features granite counter’s with stone backsplash, wood cabinets and stainless steel appliances. The apartment boasts several closets for plenty of storage and a newly renovated bathroom featuring Kohler fixtures.This luxury full service 24 hour concierge building permits pied-a-terres, co-purchasing & guarantors. The York-Gate is conveniently located near transportation, restaurants, shopping and entertainment”.

This is Co-op Apartment minimum down is 25%, monthly maintenance/cc is only $1,359 (including tax). Tax deductible is 50%. The square feet is 800 (approx). It is 1 Beds and 1 Baths at price of $520,000.

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:

Manhattan Real Estate – Building Financial Report – you must to read 

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

Luxury Rental building Test the Manhattan Market — property tax

MIMA - Joey Arak

MIMA - Joey Arak

After the 421-a program expired in December last year. It will require approval from both the City Council and the state Legislature to renew. The new constriction can receive of 20-year property tax exemption in Manhattan has temporary vanished. The property tax in Manhattan is very high. Therefore it scare away numerous of 1st time buyers. They rather continue to rent instead owning which can built up their equity. Today more and more new beautiful rental building come into the Manhattan neighborhood. New here is a luxury one.
MIMA is the rental Luxury Rental Building which located Midtown Manhattan. Joey Arak said “MiMA is a throwback to pre-Lehman real estate decadence—with prices to match—and that has made the building’s debut one of 2011’s most anticipated moments. And heck, the inclusion of a Dog City probably doesn’t hurt the buzz. The rental portion of the building, 500 studio, one- and two-bedroom units on floors 7 through 50, is now open for business, and late last week we got a peek inside. Studios start at $2,895, one bedrooms start at $3,495, junior 4s start at $4,895 and two bedrooms begin at $5,995 a month. Mama MiMA! There will be an additional fee tacked on to enjoy all those amenities”. For more detail on Joey Arak’s article, please click the link below: http://ny.curbed.com/archives/2011/03/21/meet_mima_the_luxury_funhouse_set_to_test_the_manhattan_market.php
Reaching out to others in the real estate community and sharing ideas is the goal of this blog, so please do not hesitate to reach out to me. All comments are welcome. Also, please feel free to email me at anytime at dianawu883@gmail.com

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 – Now is the Best Time to Buy
• New York Homeowners: Sale your home at TOP Dollar
– Tips for Staged the home Appeal to the Buyer

• BUY Manhattan Apartment – perfect wedding gift
• New York, Manhattan Neighborhood – mistakes the 1st time buyers will make
• Manhattan Renters — Tips for Reinforce Credit Score to Buy your Dream Home

Refinancing your Home

Today interest rate is still low. Today 30 year fix is about 4.625% (freeRateUpdate.com). Therefore, refinancing home seems very attractive. Before you do that, there are 3 things you have to consider.

1) Your credit score
The very first thing you have to do is get your credit score from Experian, Equifax and Trans Union. You have to qualify yourself for the best terms of loan. If there are any errors on your credit report, either you can follow the instruction on the report to fix it by yourself, or heir some credit report agent to fix it for you. Improve your credit or fix your credit in order to get the best deal.

2) Today your home value and equity
You have to concern that is your home value and equity enough for you to refinance the home. If you purchase a home just a few years ago at top of dollars, it may have a problem for you to refinance. It may find out that you owe more than you own because in your area the real estate market drop the percentage higher than the others. You are not qualifying for refinancing.

3) Calculate how much you really save
The last thing I want to remind you is, do you realize that you always have to pay very heavy interest in the beginning of the years. You only got very little principal at those years. Later on gradually your payment of interest part goes down and your principal amount that you earn goes up.

For example: Loan amount — $90,000
Interest rate — 8%
Term of the loan — 30 year

So your monthly mortgage payment is $660.39, annual is $7,924.68
Total interest in the 1st year you paid is $7,172.83,
Total principal in the 1st year you earned is $751.82

Total interest in the 2nd year you paid is $7,110.43
Total principal in the 2nd year you earned is $814.23

Total interest in the 20th year you paid is $4,504.44
Total principal in the 20th year you earned is $3,420.24 and so on.

From the Pattern above, you can see how your mortgage payment split each month during the whole terms. Therefore, you really have to consider in your situation, if you refinance your home, is really save you anything?

Reaching out to others in the real estate community and sharing ideas is the goal of this blog, so please do not hesitate to reach out to me. All comments are welcome. Also, please feel free to email me at anytime at dianawu883@gmail.com

Other useful topical:

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

• 5 Tips for Purchasing Real Estate in Manhattan

• New York, Manhattan Neighborhood – mistakes the 1st time buyers will make

• Manhattan Real Estate Glossary – Types of Rooms

• Renting vs. Owning

• Manhattan Real Estate – the Best Time to Buy

• New York Homeowners: Sale your home at TOP Dollar
– Tips for Staged the home Appeal to the Buyer

• BUY Manhattan Apartment – perfect wedding gift