My 2/12/17 blog post introduced the fictional apartment building 123 Anyplace Ave., and followed the money as the building transitioned from rental apartments to condo and co-op, and showed what residents pay — and why — with each form of ownership. A follow-up 2/18/17 blog post demonstrated why it can be worthwhile for people to … Continue reading Tax Breaks from Condo and Co-op Ownership
Month: February 2017
In my 2/12/17 blog post, I traced the flow of money into apartment buildings and how everything ultimately translates to the monthly expenses incurred by residents (rental tenants, condo owners and co-op shareholders). Interestingly, when we accounted for everything including taxes and mortgage payments if any, monthly differences look tiny. Variations were in how much … Continue reading The Great Home Equity Buildup
We all talk about home prices, price per square foot, record prices, comparable prices, etc. Professional real estate on-line platforms make it easy to compare prices and come up with beautiful printed CMA (Comparative Market Analysis) documents that can be given to clients. Zillow, a leading consumer real estate publishes “Zestimates,” its own (comparable-prices based) … Continue reading Home Prices Don’t Tell You Nearly as Much as You May Think
Lowball offers, those that are way below asking price, are obviously tempting: Why not take as big a head start as possible in the negotiating process and wind up with the lowest possible purchase price! But they can also be dangerous in that they arguably set an amateurish tone for the negotiation and could lead … Continue reading Anatomy of a Lowball Offer
NYC Real Estate Values 