bio: peter comitini »

market knowledge
Manhattan market report »
townhouse report »

follow peter comitini

peter's newsletter
sign-up here »

the topics
blogs & sites
design
downtown
economy
for sale or rent
green city
headroom
market reports
professional
property geek
questions & answers
tips for buyers
tips for sellers
videos
newsreal bookmarks
peter's photos


real estate services
home page
selling your property
buying a home
browse listings
recent press
contact peter


recommended
design & ideas
green design
neighborhoods
nyc resources
real estate
real estate: overseas

the archives
April 2014
November 2013
April 2013
February 2013
January 2013
June 2012
April 2012
March 2012
February 2012
January 2012
December 2011
July 2011
February 2011
January 2011
December 2010
October 2010
July 2010
June 2010
May 2010
February 2010
January 2010
December 2009
October 2009
June 2009
May 2009
April 2009
March 2009
February 2009
January 2009
December 2008
November 2008
October 2008
September 2008
August 2008
July 2008
June 2008
May 2008
April 2008
March 2008
February 2008
January 2008
December 2007
November 2007
October 2007
September 2007
August 2007
July 2007
June 2007
May 2007
April 2007
March 2007
February 2007
January 2007
December 2006
November 2006
October 2006
September 2006
all archives

Monday, November 10, 2008

tips on shopping for a home

We join real estate Attorney Keith Schuman for some lawerly tips on the decision making process. Feel free to ask questions in the comments section.

buying a manahattan co-op or condoOnce you have determined how much you can afford to spend for your new home and have assembled your team of real estate professionals to assist you in this process, you can focus on the type of home you would like to purchase. If you are working with a real estate broker, be sure he or she knows what your priorities and requirements are for a home and neighborhood. Defining your price range, house or apartment size and amenities will help your broker with the search. Remember, flexibility in any of these areas will greatly increase your chances of finding the best home for you. Your broker will schedule an appointment with you to show you apartments that match your requirements. You also should attend as many open houses as you can even if your broker is not available. However, be sure you sign in under your broker’s name so that he or she can assist you with the purchase if you decide to make an offer.

A pre-war one bedroom co-op at 435 East 57th Street.

When you are searching for a home, it is advisable to bring a notepad to make notes about each apartment that you visit. You may find it helpful to consider the following items when you visit a potential home:
  • What is the visible condition of the home’s exterior, and in the case of a coop or condo, the lobby, the elevators, and the hallways?
  • Has the home been well maintained, or does it require major repairs or replacements?
  • If you are looking at a coop or a condo, where is the apartment situated in the building? An apartment which faces the front of a building will provide light but might be exposed to more traffic and noise.
  • What is the condition of the other homes or buildings on the block? If neighboring homes or buildings are in poor condition, it could affect resale values.
  • How close is the home to shopping, schools, parking garages, and public transportation? Nearby services can add value to a home.
  • Are there community amenities close by? What is the reputation of the public schools in the neighborhood? Parks, museums, restaurants, and good public school districts can add value to the property.
  • How long has the home been on the market? A home that is on the market for a long time may indicate a problem with the home or property or an inflexible seller.

After you have viewed many homes, take some time to think about which one would be best for you. Use all the information that you have collected to compare the various homes before you commit to one. Weigh all the pros and cons. One home may have all the features that you want, but the price may be too high. Another home may need significant cosmetic work, but may have other attractive features and may be in the right price range. Consider the monthly carrying charges and the resale value of the home and make sure that you can obtain the required financing before you make your final decision.

Types of Home Ownership
There are four ways to take title to a home. You should discuss these with your attorney before closing so you have a clear understanding of the advantages and disadvantages of each form of ownership:
  • Sole Ownership. One person owns the home entirely.
  • Joint Tenancy with Right of Survivorship. When two or more people own an equal undivided interest in the home. If one owner dies, the surviving owner automatically becomes the owner of the deceased owner’s interest in the home.
  • Tenancy by the Entirety. The same as joint tenancy with right of survivorship except that it only applies to married couples. If one spouse dies, the surviving spouse automatically becomes the sole owner.
  • Tenancy in Common. Two or more persons own a share of the ownership (generally 50/50) of the home without rights of survivorship.

About the author: Keith A. Schuman, Esq. is the founder of Schuman & Associates, LLC, a full service real estate firm that provides legal services to its clients, through all aspects of their transactions. Keith is a frequent contributor to comitini.com. Contact him at keith@schumanlawfirm.com or phone 212.490.0100.


related posts:
Who are the key advisors in buying a Manhattan home?
What are the actual differences between townhouses, coops, condos and cond-ops?
What are the income tax benefits of owning a home
When should I buy a home?

Wednesday, November 5, 2008

I'm just so proud of my country tonight


headroomI can't help but to take a moment, a bit off topic for this blog, to celebrate the triumph of our democracy today in electing Barack Obama as the next President of the United States. The cheering about 11 PM could be heard on the streets near my home in Tribeca, as the networks announced their projections . I'm sure they were heard across the country and beyond. I've never seen a leader before with the ability to inspire so many people to renew their faith in the ideals and promise of America. Congratulations to President-Elect Obama and to the American people on this historic evening.


Monday, November 3, 2008

New listing in a classic Bing & Bing, pre-war bulding

download a fact sheet

435 E 57th Street, #7Dfor saleAlexander and Leo Bing were considered NYC's leading property developers at the turn of the 20th Century. They were brothers who built apartment houses in Manhattan in the twenties and thirties, which have since been converted to cooperative ownership.They often collaborated with noted architect Emery Roth, who also designed some of Central Park West's iconic buildings including The Beresford, The Eldorado, and The San Remo. In covering the sale of a portfolio of 29 Bing & Bing properties in the 80's, the New York Times described them: "The Bing & Bing buildings are regarded as among the city's finest prewar properties. The company, a development and management concern founded in 1906, built hotels and apartments at a time when luxurious in New York was still synonymous with spacious."

I'm representing this sunny, quiet one bedroom apartment in one of Roth's buildings for Bing & Bing at 435 East 57th Street in Sutton. Well proportioned rooms, a powder room and white glove doorman service make this a classic city co-op home. You can see the listing here and download a fact sheet for more Information. Its being shown by appointment daily.



see this listing »
download a fact sheet »

Thursday, October 16, 2008

podcast: Will the Bank Plan Revive Global Markets?

Download Audio Play Audio

from our friends at the Wharton school...

Richard Marston and Jeremy Siegel: Will the Bank Plan Revive Global Markets?
economy
Article Image

With stock markets in freefall, U.S. Treasury Secretary Henry Paulson announced on Tuesday that the government's effort to unlock credit markets would include direct investments of $250 billion in bank equities. He also warned bankers not to hoard the money, but to use it to make the loans that lubricate the nation's economy. Similar moves announced by European governments over the weekend, along with anticipation that the U.S. would follow suit, sent global stock markets rocketing upward on Monday. But the moves signal significant changes in the financial landscape, moving leverage and power from Wall Street to Washington. In separate interviews, Wharton finance professors Richard Marston and Jeremy Siegel tell Knowledge@Wharton that while the investment is not without risk, it appears to be the best hope for restoring confidence in credit and stock markets— and reducing the severity of a recession that is all but certain to come.

continued+

Jump to page:  1  |  2  |  3  |  4  |  5  |  6  |  7  |  8  |  9  |  10  |  11  |  12  |  13  |  14  |  15  |  16  |  17  |  18  |  19  |  20  |  21  |  22  |  23  |  24  |  25  |  26  |  27  |  28  |  29  |  30  |  31  |  32  |  33  |  34  |  35  |  36  |  37  |  38  |  39  |  40  |  41  |  42  |  43  |  44  |  45  |  46  |  47  |  48  |  49  |  50  |  51  |  52  |  53  |  54  |  55  |  56  |  57