While most purchasers of condos and co-ops prefer conventional fixed-rate financing, there is a substantial market for variable rate co-op and condo mortgages. Generally referred to as ARMs (adjustable rate mortgages), these instruments ca…
A primary rule of cooperative living is that everyone pitches in their fair share. This applies to monthly maintenance payments, special assessments, and any other monetary obligation that allows the association to maintain quality of life…
On January 9, shortly before the end of his second and final term, President Barack Obama sent a directive to the Department of Housing and Urban Development (HUD), ordering a reduction in FHA mortgage insurance premiums by a quarter of…
Over 45 years ago, when New York City was entering a dangerous financial decline that nearly culminated in municipal bankruptcy in 1975, the 421-a tax exemption program was created to incentivize developers to enter into new residential dev…
New York City's residential real estate market had a moderate fourth quarter in 2016 to finish a record-breaking year, as the average home sales price (pertaining to co-ops, condominiums, and one-to-three-family dwellings), went up 10 perce…
Last December, DNAinfo published a story about the board of Dayton Beach Park, an affordable housing co-op in Rockaway Beach, that reportedly signed off on the purchase of thousands of dollars' worth of kitchen appliances for two of its…
A combination of rising prices and sales along with sliding inventory characterized fourth quarter 2016 for Brooklyn, Queens and Riverdale home sales in general, according to the latest report by Douglas Elliman Real Estate released on Thu…
When it comes to tax revenue, New York City has 20.4 billion reasons to thank the real estate industry. According to trade association Real Estate Board of New York (REBNY), the city's real estate industry generated about $20.4 billi…
A home equity line of credit (HELOC) is defined by Wikipedia as “a loan in which the lender agrees to lend a maximum amount within an agreed period (called a term), where the collateral is the borrower’s equity in his/her house (akin to…