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11375 : Real Estate Advice

  • All64
  • Local Info2
  • Home Buying43
  • Home Selling5
  • Market Conditions0

Activity 61
Sun Nov 13, 2016
Kathy Burgreen answered:
There is a NYC law that prohibits short term rentals because the hotel industry fought for it. The major hotel chains lobbied that Airbnb & Vrbo were taking business away from them. ... more
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Wed Oct 26, 2016
Maricris A answered:

Unfortunately, we didn't get enough information about your problem to resolve the issue. Please provide us with complete property address by replying to this email and we will be happy to assist you.


Consumer Care Advocate
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Wed Sep 7, 2016
Rain.wyzt asked:
I already have an agent, and want to share my searches on this site with him so he can help me buy my new home.
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Mon Jun 13, 2016
Sally Grenier answered:
P.S. Hopefully you have your own Buyer's Agent and aren't just dealing with the Listing Agent. The listing agent has no business asking for your financial info, except for a pre-approval letter from the lender or a bank statement (to show proof of funds for a cash purchase). ... more
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Sun Jun 5, 2016
Amy Dong asked:
I have an APT in forest hills 11375, very good location, on 5th floor, 864SF. I want to sell it, do you know what is market now and price?
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Sun Jun 5, 2016
Amy Dong answered:
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Sat Jan 9, 2016
Jeffrey Middleman answered:
This is avery sticky issue.
Find out through your agent which banks have the building approved and go with that bank.
My wife are experiencing this now with one of our co-ops.
This is why it is so important ti be represented by a realtor who knows the co-op/condo market and the buildings in question. Also, agents that have relationship with various banks are also very helpful as well.
The Middleman Team, KELLER WILLIAMS. (917)488-3605
... more
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Wed Mar 4, 2015
Noah Seidenberg answered:
I recommend calling the company you use for your auto insurance. They will often give you a package deal.
Good luck.
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Wed Mar 4, 2015
Kathy Burgreen answered:
As a retired realtor near NYC, I disagree with Noah's reply that co-ops will become obsolete. To answer your question, purchasing a co-op or a condo is based strictly on finances - not on which is a better buy. There is a large gap in the pricing of co-ops vs. condos with condos being more expensive to purchase because the buyer obtains the title or deed to the unit. In a co-op, the buyer is a shareholder purchasing x number of shares in a limited housing corporation that gives you a propriatary lease to reside in a specific unit.

Theoretically, condos are easier to sell which makes them a better buy, BUT the prices can be $100,000. Or more for the exact same size unit as a co-op. Outside of the immediate suburbs surrounding NYC, there are fewer co-ops & more condos with the condo prices decreasing. However, the further away from NYC you are, transportation costs increase if you commute into the city.
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Wed Mar 4, 2015
Noah Seidenberg answered:
Ask in writing and then contact their licensing board. and file a complaint. It is illegal and if you let them know you are going to file a complaint they will probably stop.
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Wed Mar 4, 2015
Noah Seidenberg answered:
It depends on the management and the rules and regulations. Also if you could be more specific about what repairs.
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Thu Aug 21, 2014
Anna M Brocco answered:
Your attorney can better advise, consider a consultation; don't simply rely on online opinions...
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Mon Jun 23, 2014
Martina Ryan answered:
It really depends on the location & building amenities.
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Sat Jun 21, 2014
Gerard Towers answered:
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Sun Jan 26, 2014
Alan B Mann answered:
All things being equal the price would be from about the same price level to 10% higher. In 2008 there was a downturn and it has crawled back to those levels. The 10% upturn comes from the current lack of good homes on the market. ... more
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Sun Jan 5, 2014
Judit Szenes answered:
There are definitely finds in Forest Hills, Queens, NY with less than $2000 monthly maintenance fees. + don't forget that generally 50-60% of these fees (depending on the building itself) are DEDUCTIBLE tax payments. That is a considerable financial advantage over paying similar amounts for rent.
Any more questions, email me:
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Wed Nov 20, 2013
Terry Korahais answered:
What was the outcome for your coop sale??
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Fri Nov 1, 2013
Jeff Putterman answered:
Hello Jade,

This depends on the way the cash flows into the co-op, and could also be a function of the demographic make-up of the board and members. In general, a line of credit would be used in instances where receivables are going to be collected in the reasonably near future, but certain bills are due now. Since such lines are typically "short-term" in nature, any such borrowings would be paid back when the receivable is collected.

Sometimes, however, when there are older people with limited incomes are on the board, they choose to borrow money (usually with a mortgage, not a line of credit) rather than fork out cash upfront. The net effect of this kind of decision is to push the payments onto members who might join in the future.

If you have a certain set of financials you'd like me to read and opine on -- as long as you understand that my opinion is nothing more than that -- please let me know.


Jeff Putterman
Lic. R. E. Salesperson
Beaudoin Realty Group, Inc.
78-27 37th Ave., Suite 5
(718) 505-9220
(917) 204-7802
... more
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Thu Oct 24, 2013
Anu Dutta answered:
We specialize in rentals and you can always check our site http://WWW.WERENTNY.COM for all our updated listings
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