Good-bye, mortgage contingencies: tight inventory leads buyers to risk their down payments

I get a little mention in this article on mortgage contingencies. Unfortunately waiving your right to this protection can be the tipping point for getting a deal done. Yes, some of our clients elect to go this route, they are sophisticated enough to understand the risks and we certainly don't candy coat them or ever suggest this route. But after losing many "best and final" situations it can cause a buyer to rethink their position. In all the cases our clients have waived their right to a financing contingency they had a back stop if the worst case scenario came into play and they could not secure financing.

Good-bye, mortgage contingencies: tight inventory leads buyers to risk their down payments

Real Estate Déjà Vu.... Is this a new Bubble?

Real Estate Déjà Vu

a bit simplistic but an interesting read.

UrbanDigs: February Manhattan Market Report

UrbanDigs: February Manhattan Market Report

The Data is now reflecting what those looking for apartments have known for a few months now. As Rachel Zoe would say; "It's Bananas".

So we plod along trying to keep our wits about us. We are getting deals done, clients are finding homes that make sense for their needs.

Our Clients Are Great!

"Keith,

Thank you for the opportunity to work with you.  Elizabeth and I have nothing but wonderful things to say about working with you.  Your (and Christian's) professionalism, diligence, and attentiveness were far superior than anything I experienced with all my "full" service brokers in my prior deals.  I only wish I knew about your services earlier.  Having our check at the closing (after paying out so much) was a very nice and thoughtful touch.  We also appreciated your note.  Liz and I would like to take your team and Barry out to lunch/dinner if you have time over the next few weeks. I also appreciated your referral to Barry.  I have been involved in 5 prior purchases/sales and Barry was by far the best lawyer I worked with and have referred him to my other friends.  We have also recommended you to everyone we know. 

Thank you again.

S and E"


Things can get tense in a NYC real estate transaction, there is a lot of money involved along with the emotional complexities of buying a home. Having a happy, satisfied buyer leads to a more efficient sales process benefiting all involved with the deal. This deal like many hit some very rough waters, but because the clients were satisfied with our service it helped them move forward. We strive to offer you honest, efficient and 100% transparent service. It's working. 

Congratulations to All Our Clients That Bought in 2012....

Because so far 2013 has been the most brutal selling year I have ever experienced. Yes worse than what I was seeing in 2007- 2008 simply because we have no inventory, so when something good hits the market it can be chaos. This is the trend from Long Island City across to Brooklyn and throughout Manhattan.

We are trying to help our current buyers maximize their position with our unique business model. This trend cannot keep going indefinitely the market will take a breath. For now we patiently look for homes and stick to our game plan.

UrbanDigs: Depleted Manhattan Finally Sees An Uptick in New Supply -- But Will it Last?

UrbanDigs: Depleted Manhattan Finally Sees An Uptick in New Supply -- But Will it Last?

Been Hearing This A Lot Lately:

Me: Are you planning any open houses?

Listing Agent: No-we had 10 offers and best offers-
Contract is out- (Well known UWS Agent)

And this in Manhattan Valley....

That said we are getting deals done. But this is the busiest January I have ever worked in! Five offers out in the last 7 days and all went to best and final with multiple bidders. Our model is helping people get deals done, but more than ever we are advising patience. Cheap money, high rents and thin inventory are driving markets.