New York City Real Estate | NYC, NYNew York City Real Estate | NYC, NYNew York City Real Estate | NYC, NYNew York City Real Estate | NYC, NY
  • ABOUT
    • ABOUT SCOTT
    • ABOUT THE TEAM
    • PRESS
  • BUYERS
  • SELLERS
  • VIDEOS
  • LISTINGS
  • JOIN OUR TEAM
  • BLOG
  • CONTACT
  • CALL SCOTT NOW

Don’t Forget About Condos! Scott’s VIDEO JULY 2018

    Home Newsletter Don’t Forget About Condos! Scott’s VIDEO JULY 2018
    NextPrevious

    Don’t Forget About Condos! Scott’s VIDEO JULY 2018

    By admin | Newsletter | Comments are Closed | August 8, 2018 | 0

    This month I come to you from 107th street and Broadway, sitting in a three-bedroom condominium that will be coming to market in a few weeks.

    These views and finishes are amazing, from a high floor looking west, south and east.

    So – Let’s talk about condos.

    What’s different about condos is that you can use them as investment properties from day one, renting them out to tenants immediately.

    The approval process to purchase is also streamlined compared to coop purchases.

    Proof of funds, a few signatures, and you’re good to go.

    Only townhouses and building purchases

    have less red tape.

    Their flexibility makes them usually more expensive in turn, and broadly appealing to foreign buyers who haven’t established credit scores and financing history in the US.

    And while condos make up about 30% of all existing inventory, they comprise about 50% of active listings.

    And prices of condos can be more volatile, with prices rising faster than coops when the market goes up- and dropping more quickly in a softening market.

    Prices can also be impacted by a soft rental market, as investors value condos based on the return they can get from rental income. Lower income – lower valuation.

    Real estate taxes can also be a little higher on a relative basis to cooperatives in many cases.

    We can discuss why at another time.

    Right now, condos prices have softened relative to coops.

    All of this is to say that if you’re considering buying, I would suggest you take a look a condos as part of your search. You may be surprised at the values you find.

    If this has interested you, thank you in advance for sharing with your friends.

    And if you’d like to discuss the power of accurate pricing in a market like this, you can click through directly from the video.

    I look forward to next month with you and thanks for checking out my videos.
    Powered by OpenReel
    Large Apartments, Luxury Condominiums, Luxury Condos, nyc condos, nyc mortgages, NYC Real Estate, selling new york, upper west side

    NextPrevious

    Recent Blog Posts

    • VIDEO: No Supply Problems, No Demand Problems. It’s Only About Pricing. January 1, 2021
    • The Myth of the Desperate Seller – And Other Real Estate Fallacies December 25, 2020
    • Bottom of the Market, Part II – New York is Coming Back, Baby! December 25, 2020
    • Year Over Year: The Real Estate Recovery is WELL On Its Way December 9, 2020
    • VIDEO- Am I Really Calling the Bottom of the RE Market? Yes, I Am. November 30, 2020
    • All Signs Point To A Bottom- And Don’t Just Take My Word For It November 27, 2020
    • Virtual Real Estate vs Brick and Mortar Real Estate Investment- “Unlimited Upside”? November 27, 2020
    • An Inclusive New York City Real Estate Market- A Dream Home For Everyone November 27, 2020
    • Should I Stay or Should I Go? (A NYC Real Estate Market Conversation) November 27, 2020
    • Our Inventory Report: Actual Inventory Levels vs Sales Pace October 29, 2020

    Archives

    Call us: (646) 400-0769
    Email us: sharris@bhsusa.com
    Visit us: Brown Harris Stevens
    1926 Broadway
    New York NY 10023

    © 2021 The Harris Residential Team. All rights reserved.
    • About Scott Harris
    • About the Team
    • Press
    • Buyers
    • Sellers
    • Videos
    • Listings
    • Blog
    • Contact
    • Call Scott Now
    • Brown Harris Stevens Fair Housing Policy
    • ABOUT
      • ABOUT SCOTT
      • ABOUT THE TEAM
      • PRESS
    • BUYERS
    • SELLERS
    • VIDEOS
    • LISTINGS
    • JOIN OUR TEAM
    • BLOG
    • CONTACT
    • CALL SCOTT NOW
    New York City Real Estate | NYC, NY