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Apartments -
NYC Real Estate News
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Tuesday, 30 November 1999 00:00 |
Unless you, yourself are a licensed home inspector or have extensive knowledge in home construction it is not a good idea to rely solely on what you see in home when looking into purchasing.
Depending on the financing of your new home, there should be two or three inspections done. First, obviously, the buyer should note anything that looks questionable. Here are a few things to look at:
1. The roof - What is the overall condition? Does it appear to look new or old?
2. The foundation - Do you notice any cracks or shifts?
3. Interior - Look for leaks in the ceilings (water stains, warped, etc.) around windows, toilets, tubs.
4. Electrical - Look for worn or scorched outlets, are they up to date (meaning are they three pronged instead of two?)
5. Appliances - If appliances are included with the house, check condition of interior and exterior.
6. Heating/Cooling - Do the systems appear efficient for the size of the house?
7. Your lot - Are there any trees encroaching into the foundation or roof. Check for drainage, is water sufficiently flowing away from house?
A second inspection by a reputable, licensed home inspector needs to be done to provide a more detailed report for the financial institution as well as to the buyer. The inspection report will provide the buyer the opportunity to negotiate the selling price if any major repairs need to be done. For example, if the roof needs to be replaced, the buyer can negotiate that the seller replace the roof or reduce the selling price by a certain amount to cover the buyer's cost of having it repaired or replaced. The report also provides the buyer an escape hatch on a defective house. If the contract is written contingent on an acceptable inspection, any defects in the home must be either repaired or monetarily compensated for. If you are not satisfied, you have the option to cancel the contract.
If the buyer is using a government loan to purchase a house, the third inspection takes place at the time of the appraisal. Keep in mind that the inspection is basically minimal and that it should not be relied upon as the only inspection of the house.
A home inspection can cost anywhere from $200 - $500 but is well worth the cost if it saves you money in the final cost of the home. No one likes to have to spend more money on repairs that went unnoticed due to lack of an inspection!
What to look for in a home inspector:
1. Experience & Certification - How many years experience does the inspector have and is he/she certified by the American Society of Home Inspectors (ASHI)
2. Does the inspector exclusively do home inspections? Beware of inspectors who "do inspections on the side" as they be contractors looking for work.
3. Type of report - Oral or written or both, will there be recommendations for fixing the problems?
4. Length of Inspection - a thorough inspection should take anywhere from two to four hours.
5. What specifically will be looked at during the inspection? IE: roof, basement, foundation, general interior/exterior condition, plumbing, heating, cooling, attached structures, kitchen, baths, electrical
6. Does the inspector have Errors & Omissions Insurance? This gives you some level of protection should there be an "error or omission" in the inspection--meaning the inspector missed something.
Buying a home is stressful enough without having to worry about making repairs after moving in. A home inspection is one of the most important factors to keep in mind!
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Apartments -
NYC Real Estate News
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Tuesday, 30 November 1999 00:00 |
Maison East
1438 3rd Avenue
Upper East Side
Offering a living experience like no other in NYC, the units at this newly built building, Masion East, range in size from one to three bedrooms. The condominium residences are all luxuriously designed yet yet smartly planned keeping practicality and safety in the forefront.
Interiors of the residences feature hardwood floors throughout. Kitchens are equipped with appliances by Jenn Aire, Broan and Liebherr & Bosch surrounded by cabinets in a HTH white high gloss finish with Verde Andeer granite countertops.
Masterbaths in the homes feature tiles and vanity tops of Calcutta/Gold marble, fixtures by Cascade and tubs by Vita.
For more information about Maison East, please contact:
The Sales and Design Center
212-585-1438
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Apartments -
NYC Real Estate News
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Tuesday, 30 November 1999 00:00 |
From an article at The Real Deal.
The sales price of homes in Manhattan dropped by 7.9 percent this summer according to a report from Halstead Property. Manhattan apartments average sales price dropped from $1.3 million in June to finish at $1,205,042 in August. The median sales prices in Manhattan also dropped by 5.4 percent with prices in June at $799,000 to $755,250 by the end of August.
A 3.5 percent quarter-over-quarter drop in sales as well as an all time high of unsold apartments in Manhattans reached 7,640, a 10.7 percent increase according to a second quarter report by the appraisal firm of Miller Samuel.
Even the National Association of Realtors reported that the number of existing home sales nationwide would be 7.6 percent lower in 2006 than in 2005.
Though the numbers for August remained lower than June, the Halstead report did note that there was a 4.6 percent average sales price jump from July to August, and a median sales price increase from $747,750 to $755,250.
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Apartments -
NYC Real Estate News
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Tuesday, 30 November 1999 00:00 |
Located in the Manhattan borough, the Meatpacking District is situated roughly from West 15th Street south to Gansevoort Street and from the Hudson River East to Hudson Street.
In 1884, the city of New York designated two acres of land in honor of General Peter Gansevoort, a revolutionary war hero and grandfather to Herman Melville. Thus, the district is also referred to as the Gasenvoort Market.
In the 1900's the area was home to 250 meat packing plants and slaughterhouses. Many of these warehouses were converted from tenement buildings from money provided by the Astor and Roosevelt families in realizing that meat production was just as lucrative as oil or railroads.
Once one of the nations top producing markets of dressed meat, the Meatpacking District as become one of New York's trendy neighborhoods. In the recent years the neighborhood has seen many new hip restaurants, bars and boutiques opening catering to the young professionals.
Much of the architecture in the neighborhood is of industrial design
but there are a few distinct buildings such as the Beux-Arts building designed by the same architects who designed the immigration station's main building on Ellis Island. Village preservationists are in the process of having the District designated as a historic landmark. Most of Manhattan's historic districts celebrate it's grand residential properties and the preservationists feel that the city need's to honor it's commercial past as well.
Despite the changes that have taken place in the Meatpacking district, some remenants of the original industry remain. Early mornings on Washington Street you can catch a glimpse of meat deliveries being made from the warehouses now located between the boutiques and cafes.
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Apartments -
NYC Real Estate News
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Tuesday, 30 November 1999 00:00 |
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Views and opinions about the Manhattan real estate market as voiced by a person who is "a soldier in the trenches of the Manhattan real estate war". |
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