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Dan reviews some of the key real estate headlines for New York City in 2021 and gives his thoughts and observations on the 2021 Manhattan real estate market and what 2022 might have in store for the Manhattan market, including stats and data from UrbanDigs.com --- Send in a voice message: https://anchor.fm/queenshometeam/message
In this week's episode, George explains the definition of External Obsolescence and how it can affect the value of a property. He then talks about a recent aha regarding debt to income ratios and how they are currently affecting loans given the sharp rise in mortgage rates. George then talks about some new listings hitting the market this week, mortgage rates, the stock market, and a recent report showing that home affordability is nearing all time lows. Take a listen and feel free to reach out if you have any questions :)  External Obsolescence Definition:  https://www.realtown.com/blog/External-Obsolescence  Front End DTI vs Back End DTI:  https://www.investopedia.com/terms/f/front-end-debt-to-income-ratio.asp New Listings:  https://search.queenshometeam.com/idx/featured?per=100&srt=newest Black Knight: As Home Affordability Nears All-Time Low Amid Spiking Interest Rates and Still-Rising Prices, Borrower Behavior and Preferred Products Changing https://www.prnewswire.com/news-releases/black-knight-as-home-affordability-nears-all-time-low-amid-spiking-interest-rates-and-still-rising-prices-borrower-behavior-and-preferred-products-changing-301537005.html  Today's Rates:  https://www.bankrate.com/mortgages/mortgage-rates/   --- Send in a voice message: https://anchor.fm/queenshometeam/message
In this week's episode, George answers a recent question from a coop shareholder who never received their stock certificate. What do you do in this situation? Find out here... Then George gives some tips on how to handle multiple offer situations. Whether you're an agent or a seller, this is a proven strategy that has worked for the Queens Home Team time and time again... Then George speaks about a new listing hitting the market this week. And lastly, he talks about the fact that the 10 year treasury broke 2.5% and mortgage rates are closing in on 5%. A lot of interesting stuff happening this week!  As always, if you have any questions or ideas for future episodes, feel free to contact us at http://www.queenshometeam.com/askqht  What is a Coop Stock Certificate?:  https://www.hauseit.com/co-op-shares-nyc-real-estate/#:~:text=Co%20op%20shares%20are%20similar,own%20and%20other%20miscellaneous%20information. 10 year Treasury rises to 2 Year High of 2.5%:  https://www.cnbc.com/2022/03/25/us-bonds-treasury-yields-flat-friday.html  --- Send in a voice message: https://anchor.fm/queenshometeam/message
In this week's episode, George answers a question from a home buyer who saw a 2 family house which had 5 kitchens and 5 electric meters. The question is, wouldn't that make it a legal 5 family? Find out in this episode. George then talks about escalation clauses and how they can be used in the Queens/NYC market when going for a competitive property. Then he talks about the new QHT listings on the market this week, and lastly he talks about the stock market, economy, mortgage rates, etc. Enjoy :) Information on Certificate of Occupancies:  https://www1.nyc.gov/site/buildings/property-or-business-owner/certificate-of-occupancy.page   More information on Escalation Clauses:  https://myhome.freddiemac.com/blog/homeownership/20210707-offer-escalation-clause New Listings:  Studio Coop in Kew Gardens - https://search.queenshometeam.com/idx/details/listing/b056/3379937/125-05-84th-Avenue-5H-Kew-Gardens-NY-11415 2 BR/2 BTH Coop in Harlem - https://search.queenshometeam.com/idx/details/listing/b056/3380292/102-Bradhurst-Avenue-710-New-York-NY-10039 2 BR/2 BTH House in Woodside - https://search.queenshometeam.com/idx/details/listing/b056/3381834/47-04-69th-Street-Woodside-NY-11377 3 Level 1 Family in Jackson Heights North - https://search.queenshometeam.com/idx/details/listing/b056/3381782/25-01-86th-Street-E-Elmhurst-NY-11369 Today's Rates: https://www.bankrate.com/mortgages/mortgage-rates/?cs=0&fico=740&loan=400000&market=2&perc=5&points=All&prods=1&propertyvalue=500000&type=newmortgage&zip=11370  --- Send in a voice message: https://anchor.fm/queenshometeam/message
In this episode, Daniel, George, and Abigail talk about the pros and cons of doing a pre home inspection, then they go over open permits and how to handle them, and lastly they discuss the current career opportunities with QHT. Below is a link to our preferred home inspector for pre-inspections as well a link to the department of buildings building information system (BIS), and a link to contact us if you are interested in joining our team :)  Home Inspector for Pre-Inspections:  http://www.touchstoneinspection.com/ NYC Department of Buildings Building Information System (BIS): https://a810-bisweb.nyc.gov/bisweb/bispi00.jsp Join the Team:  https://www.queenshometeam.com/join/ --- Send in a voice message: https://anchor.fm/queenshometeam/message
In this episode, George addresses a question received from a potential home buyer who is curious what the minimum down payment is if he is a first time buyer, but his wife is already a co-signor on another property. George then talks about a recent Aha in which he learned the actual steps that must be taken in order to challenge your NYC property tax assessment. George then talks about 2 new listings that just hit the market this week (1 bedroom junior 4 condo in Forest Hills and a 2 bedroom coop in Jackson Heights) and lastly discusses what's going on in the stock market and economy.  Step by Step Guide to Challenging your Tax Assessment:  https://www.queenshometeam.com/blog/step-by-step-guide-on-how-to-challenge-your-nyc-property-tax-assessment/ New Listing in Forest Hills (1 BR Junior 4 Condo):  https://search.queenshometeam.com/idx/details/listing/b056/3376539/119-49-Union-Turnpike-12A-Forest-Hills-NY-11375 New Listing in Jackson Heights (2 BR Coop):  https://search.queenshometeam.com/idx/details/listing/b056/3378190/34-40-78th-Street-2H-Jackson-Heights-NY-11372  Mortgage Rates drop to Pre-Pandemic Levels:  https://fortune.com/2022/02/23/mortgage-applications-plunge-pre-pandemic-levels/  --- Send in a voice message: https://anchor.fm/queenshometeam/message
In this episode, George answers the question, "is now the right time to buy a property in Queens?" and "is now the right time to sell a property in Queens?". He then dives into the topic of NYC Bedroom Codes, talks about a new 1 bedroom coop listing in Kew Gardens, and then talks about the market and economy. Take a listen and drop us a line if you have any questions :)  NYC Bedroom Code info:  https://fontanarchitecture.com/bedroom-codes-nyc-habitable-space/  New Listing Details:  https://search.queenshometeam.com/idx/details/listing/b056/3376398/118-60-Metropolitan-Avenue-5L-Kew-Garden-Hills-NY-11415 Today's Rates:  https://www.bankrate.com/mortgages/mortgage-rates/?type=newmortgage&market=2&propertyvalue=500000&loan=400000&perc=5&prods=1&fico=740&points=All&cs=0&zip=11370 Need Help? Contact Us https://www.queenshometeam.com/help/   --- Send in a voice message: https://anchor.fm/queenshometeam/message
Everyone loves to have more money available. Here are 5 quick tips on how to save some dough! --- Send in a voice message: https://anchor.fm/queenshometeam/message
With the flooding that happened in NYC as a result of rainfall from Hurricane Ida, and several deaths mostly in basement apartments, renewed scrutiny has come to the whole issue of basement apartments in NYC. Mayor De Blasio announced a period of no fines to owners of illegal basement apartments. In this episode, George and Dan go over the decision and the ramifications for NYC homeowners. --- Send in a voice message: https://anchor.fm/queenshometeam/message
At the beginning of September, 2021, Hurricane Ida passed over New York City, dropping record amounts of rain and leading to serious flooding. In this episode, George and Dan go over how FEMA assistance works, who is eligible for it, and how to file for the available FEMA assistance. If you had flooding and damage to your property, you need this information! https://www.fema.gov/disaster/hurricane-ida https://www.fema.gov/disaster/4615 https://www.dfs.ny.gov/consumers/help_for_homeowners/disaster_flood/Register_FEMA --- Send in a voice message: https://anchor.fm/queenshometeam/message
Queens Home Team team owners George and Abigail Herrera recently went into contract on an investment property and picked up a couple of nuggets about the lending process and mortgages. In this episode, we look at some tips for shopping around for lenders. We also look at the "rate lock" aspect of mortgages, and different considerations that a buyer might make when deciding on the right strategy to lock their interest rates -- or even whether to lock them at all! --- Send in a voice message: https://anchor.fm/queenshometeam/message
For homeowners, potential sellers and prospective buyers, keeping up to date on the market and getting expert advice is important for many reasons. Although we're well into the 3rd quarter, we wanted to share the market stats for the 2nd quarter and give some insights into what the market is doing, some analysis on what the number mean, and some thoughts on where the market might be headed. Better late than never!  --- Send in a voice message: https://anchor.fm/queenshometeam/message
What is Local Law 152? Dan hadn't even heard of it until George suggested this episode. If you're a multifamily owner in New York City, you NEED to be aware of Local Law 152 and listen to this episode -- or risk getting hit with a $10,000 fine by the city. If you own a NYC property that is a 3-family or larger, learn what it is, what it requires, and how to be in compliance in this short episode. --- Send in a voice message: https://anchor.fm/queenshometeam/message
Selling a home is almost always a stressful process, no matter how smoothly it goes. That stress can often bring underlying family or relationship issues to the surface. Even when relationships are strong, if two or more people have different perspectives or priorities related to a home sale, it can quickly become tense and difficult -- especially in New York City where so much money is involved. In this episode, at Abigail Herrera's suggestion, we talk about different situations and different family relationships that we often encounter in a sale, and how families -- and agents -- can handle these situations to avoid as much tension as possible. We look at estate sales, sibling rivalries, divorces, and all sorts of other situations where potential disagreements and tensions can arise and discuss the simple, key elements to ensuring a smooth and successful sale. --- Send in a voice message: https://anchor.fm/queenshometeam/message
Did you know there are co-ops in NYC where buyers can't get a loan and have to buy all cash? Many don't even realize that in addition to the buyer being approved for a loan, the BUILDING also needs to be approved. In some buildings, that isn't possible for various reasons, and it can have a serious impact on both buyers and sellers! Listen to this episode to learn why this happens, and how "cash-only" co-ops impact you whether you're a hopeful buyer or an owner trying to sell. Make sure to visit us online at www.queenshometeam.com Send in your questions and episode ideas to: george@queenshometeam.com | daniel@queenshometeam.com Facebook: http://www.facebook.com/queenshometeam YouTube: http://www.youtube.com/queenshometeam Instagram: http://www.instagram.com/queenshometeam Our Manhattan specialist: www.AkermanNYC.com --- Send in a voice message: https://anchor.fm/queenshometeam/message
Whether you're a buyer or a seller, what's happening economically on a broad scale has an impact on your specific situation. The problem is, many of us don't understand how or see the connections. George and Dan walk us through some of the major economic indicators that are relevant to homeowners and buyers, and how they impact real estate and the real estate market. This is a great "primer" for you to gain a better understanding of how what you see on the financial news connects to you personally. Make sure to visit us online at www.queenshometeam.com Send in your questions and episode ideas to: george@queenshometeam.com | daniel@queenshometeam.com Facebook: http://www.facebook.com/queenshometeam YouTube: http://www.youtube.com/queenshometeam Instagram: http://www.instagram.com/queenshometeam Our Manhattan specialist: www.AkermanNYC.com --- Send in a voice message: https://anchor.fm/queenshometeam/message
After the kitchen, the bathroom is the most important room in a home with regards to the home's value, and bathroom renovations remain one of the most popular -- and most expensive -- projects homeowners take on. George talks about lessons learned from not one, but TWO bathroom renovations done in his own home. We'll cover budgeting, planning, finding the right help, what not to do, and more. Make sure you listen to this one as George drops some knowledge on us! Make sure to visit us online at www.queenshometeam.com Send in your questions and episode ideas to: george@queenshometeam.com | daniel@queenshometeam.com Facebook: http://www.facebook.com/queenshometeam YouTube: http://www.youtube.com/queenshometeam Instagram: http://www.instagram.com/queenshometeam Our Manhattan specialist: www.AkermanNYC.com --- Send in a voice message: https://anchor.fm/queenshometeam/message
Abigail joins George and Dan on this episode of Real Talk to discuss the topic of relocations and some of the ways to prepare and some of the things to avoid. Relocations -- typically a move out of the same metropolitan are, and often out of state -- can be tricky things. Not only are you selling AND buying a home, which is always tricky anyway, but now you're adding the extra layer of complexity by moving a long distance and all the logistical challenges that creates. We discuss ways to prepare to make a stressful move as simple as possible, and we talk about the pitfalls and mistakes to avoid if you're facing a relocation. This episode has some GOLDEN information for you! Make sure to visit us online at www.queenshometeam.com Send in your questions and episode ideas to: george@queenshometeam.com | daniel@queenshometeam.com Facebook: http://www.facebook.com/queenshometeam YouTube: http://www.youtube.com/queenshometeam Instagram: http://www.instagram.com/queenshometeam Our Manhattan specialist: www.AkermanNYC.com --- Send in a voice message: https://anchor.fm/queenshometeam/message
In this episode George and Dan go over the "Top Fives" from 2020 -- neighborhoods in Queens that saw the biggest changes in price or activity, broken down by property type. Did YOUR neighborhood make the top 5?? Make sure to visit us online at www.queenshometeam.com Send in your questions and episode ideas to: george@queenshometeam.com | daniel@queenshometeam.com Facebook: http://www.facebook.com/queenshometeam YouTube: http://www.youtube.com/queenshometeam Instagram: http://www.instagram.com/queenshometeam Our Manhattan specialist: www.AkermanNYC.com --- Send in a voice message: https://anchor.fm/queenshometeam/message
2020 was a year to remember (or forget, depending on how you look at it), and everyone was wondering what 2021 would have in store for us. Well, with Q1 now behind us, we can begin to answer that question and take a look at where we might be headed. George and Dan go over all the sales stats for the local real estate market for Q1 and compare it to the same time last year, as well as the preceding quarter, and discuss what's yet to come this year. AND we announce the beginning of our new HOTLINE!! Make sure to visit us online at www.queenshometeam.com Send in your questions and episode ideas to: george@queenshometeam.com | daniel@queenshometeam.com Facebook: http://www.facebook.com/queenshometeam YouTube: http://www.youtube.com/queenshometeam Instagram: http://www.instagram.com/queenshometeam Our Manhattan specialist: www.AkermanNYC.com --- Send in a voice message: https://anchor.fm/queenshometeam/message
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