With median home prices between $380,000 and $515,000, home sellers in Suffolk and Nassau Counties have seen the benefits of rising home prices over the last few years. But, it seems the market is headed toward a plateau that will eventually lead to a drop in prices.
Owning a home in New York can be a lucrative investment. And because property ownership can be at such a premium, not every person who owns real estate in New York is the sole owner of the property.
Finding the right home isn’t always easy. Sometimes, what a buyer is looking for simply isn’t on the market in the region he or she wants to live. One option some individuals turn to when they encounter this problem is to create the home they want by having a custom-built home constructed.
You have likely heard the names Fannie Mae and Freddie Mac, but have you ever wondered how they apply to you?
If you are ready to buy a new home, you can be managing several details from securing financing to preparing your current home to go on the market. And all these moving parts don't disappear just because you find the right home.
Years ago, home sellers in New York were not required to disclose defects in the property being sold. In legal terms, the doctrine was "caveat emptor" -- or "let the buyer beware." That meant it was up to the buyer to inspect the property for any defects.
There are countless details that go into the decision to buy a new home. Prospective buyers consider everything from square footage and location to taxes and layout. With so much to think about, it can be easy to overlook certain elements, particularly when they don't seem like a pressing issue.
The lower part of Manhattan in New York recently had its most robust quarter of leasing activity in the past seven years. Office space spanning nearly two million square feet was leased in this part of Manhattan during this year's second quarter. Research shows that the sectors of information and media, technology, and advertising contributed to most of the real estate transactions.
Making an offer on a home in New York can be an exciting experience, especially when aspiring buyers feel that their offers are solid. However, excitement can quickly turn into disappointment if their offers end up being rejected. Here are a couple of reasons why would-be buyers may see their offers rejected as they embark on residential real estate transactions.
Purchasing commercial properties is certainly a wise way to invest one's money. However, these are not the only types of commercial real estate transactions that can be lucrative. A commonly ignored aspect of commercial real estate in New York and elsewhere is the purchase of vacant land.