This guest post was written by Suzie Wilson of Happier Home, who knows far more about this topic than I do, and I recommend you all check out her site. I thought it fit in well with seller’s month (because it’s about adding value to your home) and also Earth Day, because smarter homes are often more energy efficient homes.
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New York Values #45 - Multiple Offers
Everyone handles multiple offers differently, and there are many schools of thought around it. Whether you’re on the buy side or the sell side, you definitely want to work with an agent who knows how to conduct him or herself throughout the process. While you may feel you are equipped to handle this on your own, I don’t agree.
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I’m really, really tired and this makes me think of a beach house so….here we go!
New York Values #44 - Seller Commission
Today on the docket: what does this commission pay for when I sell my place and hand over a hefty check? On the buy side you usually don’t end up paying anything, but as a seller you are paying both your agent and the buyer’s agent. But where does this money actually GO?
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Resale Value
If you are planning to buy something where you will live for the rest of your life, forever and ever, you may not have to consider these factors. But the average buyer is looking to hold onto something for 5-10 years, and a good agent will give you advice on the buy-side to help find a place that is both a good fit now, and easy to sell in the future.
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Our train stations better look like this after all these $$$$$$
New York Values #43 - Taxes for the MTA
No, they aren’t adding a tax on your metrocard purchase. They are increasing the taxes involved in high-value real estate transactions and, allegedly, using the proceeds to fix my favorite broken train system. I’m always skeptical that money will go where it’s supposed to but if this does happen, it will make me feel a bit better about why the tax exists.
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salt flats are very cool. cooler than tax info.
New York Values #41 - SALT Deductions
While everyone needs to speak to a financial advisor rather than seeking expertise from someone like me, I do my best to be informed about everything from types of trusts to the tax code to financing options. One thing that EVERYONE has been talking about this year is the newly imposed limit on SALT deductions.
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This photo is a non-sequitur but also somehow perfect for this post.
Trump, Cohen, and Valuation
If you guys thought I wasn’t going to talk about the Cohen testimony, you must not know me that well. There’s way too much to cover, but because we are discussing how to buy in NYC, I will mention the absurdity of Trump inflating the value of his real estate holdings in order to buy the Buffalo Bills. Really, dude?
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This seems like the type of apartment that would be in a rental startup ad
New York Values #35 - Brokerage vs. Aggregator
I’m going to clarify something I’m often asked about regarding different real estate companies. Zillow and Redfin may seem similar, but they are completely different types of companies. Meanwhile, many of the new rental-related startups in NYC are actually more similar to Redfin in their business models than Zillow. Confused? I’ll break it down.
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StreetEasy #1 - Building Experts and Premier Agent
Last week I received the below email from StreetEasy. The building referenced, 62 E 1st, was one of the first listings I rented. It was a $5400 one-bedroom (I know, I know) in a condo building, meaning it was a sublet directly from the owner. I have nothing to do with the building itself, and any other listing would be completely different from mine.
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New York Values #24 - Dual Agency
Sometimes only the landlord, seller, or buyer is represented, and the other side comes to the table without their own agent. Or sometimes the buyer’s and seller’s agents work at the same brokerage firm on the same team. In these instances, the same agent/team represents both sides in what is known as “dual agency.”
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