Why not become a part-time broker?

See you in the new year. . . Happy holidays!

One of my favorite posts.

Someone told me a few days ago that she was thinking of becoming a real estate broker part-time.

“Don’t,” I said unhesitatingly.

Even if she has a wide social network, there is no way she can succeed. Continue reading

Let a buyer in before closing and play with fire

See you in the new year. . . Happy holidays!

One of my favorite posts.

When buyers insist on moving into your home before they own it, the temptation to find a way to comply with the request or demand can be overwhelming.

My very best advice is to win the battle against that temptation without restraint.

That’s because the opportunities for problems to arise are manifold–for example: Continue reading

Will someone please explain my ConEd bill?

See you in the New Year.  Happy holidays! 

One of my favorite posts.

Consolidated Edison is a profit-making business.

It paid $2.38 in cash dividends per share last year and declared a 60-cent per share quarterly dividend two weeks ago.

Those dividends resulted from $13 billion in annual revenues and $36 billion in assets. Yesterday, Con Ed closed at $56.11, pretty close to its 12-month high approaching $57.

I got to wondering about such things after

I actually read the back of my monthly electric bill for the first time. The breakdown of my charges that the utility provided initially puzzled and then began to annoy me.

For example, Continue reading

Brooklyn house easily tops auction minimum

Semi-detached brick house with driveway and two-car garage at 50 Tapscott St. (Source: Kings County Public Administrator)

At Tuesday’s estate auction by King’s County Public Administrator Bruce Stein, the last was first in terms on the amount of its winning bid — $1.45 million, 62 percent above the minimum opening bid.

The object of spirited bidding by some half dozen hopefuls, the property at 51 Havermeyer St. was the last of 10 houses on the block.  Its minimum was $890,000.

The winner was a man who Continue reading

Caution, ain’t nothin’ like a sponsor apartment

See you in the New Year. . . Happy holidays!

One of my favorite posts.

When co-op buyers see the words “sponsor apartment” in a converted building, their eyes invariably light up with anticipation. In fact, some buyers will specify that they want both to live in a co-op and to buy only a sponsor apartment.

For readers who are not in the know, the reason is that sponsor apartments will allow buyers to avoid having to undergo the tedious, time-consuming task of assembling inches thick of a board package, the rigors of a board interview and all the attendant anxiety.

Virtually all that sponsor wants to know is that you have the cash for a deposit and the means, including certainty of lender approval, of having the funds to close.

In other words, purchasing a sponsor apartment is a lot like buying a condo – smooth sailing. (Buyers of both condos and co-ops would be well advised to get into the weeds by reading the advice that lawyer Ron Gitter provides.)

But . . . (There’s always a “but,” isn’t there?) Continue reading

Weekly Roundup: Condo inventory, rents, pet scams, best markets for sellers or buyers, retirees’ downsizing, consumers’ outlook

Next Weekly Roundup Jan. 4

Tastes downtown changing from industrial lofts, glass boxes

More evidence that developers adding to supply of condos

There’s nothing like decisions on art to stir the pot of acrimony in condos, co-ops

Real estate licensees rebound to 27,000 in the city alone

Manhattan’s median rent edges up in November

When buildings bar a pet, lawyers say, residents suddenly claim disabilities

High living costs cause half of population to contemplate leaving Long Island

Southampton home owned by TV news personality and actress wife goes quickly to contract

Author achieves perfect sale of Manhattan condo

Pair finds buyer of Upper East Side one-bedroom apartment in amazing time

 

Strongest sellers’ markets in Continue reading

There are two–make that three–kinds of brokers

The broker community extends to the ends of the earth — and the Internet. (Flickr photo by Ravi Karandeekar)

There are brokers who prefer to represent sellers and those who are inclined to help out buyers.

It is folly to generalize, of course, but I’ll give it a shot.

Those who lean toward sellers seem to ally themselves with Continue reading