hauseit, Author at Hauseit

The Housing Stability and Tenant Protection Act of 2019 restricts apartment deregulation in NYC and strengthens tenant protections for rent-stabilized and market rentals.

Changes to NYC Rent Laws for 2019

By hauseit / September 3, 2019 September 10, 2019

A number of new rent laws and regulations recently took effect in NYC following the passage of the Housing Stability and Tenant Protection Act of 2019 by the New York State Legislature. Changes were made to rent stabilization laws, real …

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What is the financing contingency in NYC real estate? What does a financing contingency clause look like? Financing and funding contingencies, explained.

The Financing Contingency Explained

By hauseit / August 29, 2019 August 29, 2019

The financing contingency is often misunderstood when it comes to NYC real estate deals. The financing contingency is actually a rather broad term for a contract contingency that can include many negotiable parts, such as an appraisal contingency or minimum …

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How to Sell Your Home Yourself in NYC

By hauseit / August 28, 2019 September 5, 2019

If you’re looking for ways to sell your home yourself in NYC, chances are that you’re trying to reduce or fully eliminate the traditional 6% real estate commission paid by most sellers in NYC. Many articles have been written about …

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What are Co-op Shares in NYC Real Estate?

By hauseit / August 27, 2019 August 27, 2019

Co-op shares are units of ownership in a cooperative corporation that owns an apartment building, not unlike owning shares in a regular business corporation. The coop corporation’s main asset will typically be the apartment building, and thus each shareholder will …

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Real Estate Investing for Beginners

By hauseit / August 27, 2019 August 27, 2019

Most articles on real estate investing for beginners will give you basic tips like getting pre-approved for a mortgage or other things you already know. We’ll take a contrarian approach in this article and talk about the pros and cons …

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Real estate agents are not obsolete in NYC. Over 95% of sellers and 75% of buyers use brokers in NYC, and commissions remain stubbornly fixed at 5% to 6%.

Are Real Estate Agents Obsolete in NYC?

By hauseit / August 27, 2019 August 28, 2019

Real estate agents in NYC still represent over 95% of sellers and over 75% of buyers as of today despite major advances in technology and information accessibility for consumers. Furthermore, real estate commissions in NYC remain stubbornly fixed at 5% …

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Recast Mortgage – Recasting a Mortgage Beginner’s Guide

By hauseit / August 9, 2019 August 20, 2019

Recasting a mortgage simply means calling up your bank and asking them to re-calculate your mortgage payments after you've significantly pre-paid your loan balance more than required. It doesn't cost anything to recast a mortgage, but you do need to …

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What Level of Service Should I Expect from a Flat Fee MLS Listing?

By hauseit / July 24, 2019 August 15, 2019

It is important for NYC FSBO home sellers to realize that a Flat Fee MLS Listing (RLS for NYC customers) listing is an ‘owner managed’ option. This means home sellers should not expect anywhere near the same level of service …

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Low rental yields, new rent regulations and difficult tenants are just some of the reasons why buying a multi family home in NYC is a bad investment.

Why Buying a Multi Family Home in NYC Is a Bad Investment

By hauseit / July 23, 2019 August 29, 2019

Buying a multi family home in NYC is a bad investment because rental yields are extremely low, opportunity costs are high, dealing with bad tenants is mind-numbing, evictions are impossible, local rent laws are stifling and labor and maintenance costs …

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Selling an apartment in NYC with existing tenants in place can be much more challenging than selling a vacant apartment.

Selling an Apartment with Existing Tenants in NYC

By hauseit / July 17, 2019 July 17, 2019

Selling an apartment in NYC with existing tenants in place can be much more challenging than selling a vacant apartment. This is especially so if you’re selling a co-op or a single-family home which is not catering to an investor …

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