The Fastest-Growing Cities in New York: Where Real Estate is Booming
New York is growing fast, NY often referred to as the Empire State, is home to the legendary New York City – the epicenter of finance, culture, and entertainment. But while NYC often steals the spotlight, many smaller cities and towns in the state have been experiencing rapid growth and garnering attention from real estate…
Why Buying a Home in New York City Is So Challenging
For anyone trying to buy a home in New York City, it quickly becomes clear that housing prices are extremely high. The city’s five boroughs—Manhattan, Brooklyn, Queens, the Bronx, and Staten Island—contain some of the most expensive neighborhoods in the United States. This high cost makes buying a home a significant challenge, especially in popular…
Bronx Vacancy Rates Hit Historic Low as Demand for Housing Soars
Last year, the Bronx saw an impressive growth in new homes, with over 10,000 new housing units added. This surge was detailed in the 2023 Annual Development Report, shared by Bronx Borough President Vanessa L. Gibson. This report not only highlights the expansion but also points out the economic benefits for the area. Big Investment…
New York City’s Innovative Approach to Alleviate Housing Crisis: Small-Scale Solutions
In a bold move to tackle the daunting housing crisis in New York City, the local government is experimenting with a micro-solution approach. This innovative strategy involves incentivizing homeowners to convert spaces like garages and attics into rentable apartments. On Tuesday, city officials unveiled a new program that allocates up to $400,000 each to 15…
Manhattan’s Real Estate Market Shifts Toward Buyers
Manhattan’s real estate market is seeing a major shift. Prices for apartments are dropping, and the number of unsold units is rising. This trend is making Manhattan more of a buyer’s market, giving people looking to purchase homes more power in negotiations. Here’s a deeper look into what’s happening. Apartment Prices Drop in Manhattan’s Real…
The Bronx Housing Market Struggles as Inventory Reaches New Lows
In March, The Bronx saw a significant decline in home sales, new listings, and overall inventory. This is based on a report by the Hudson Gateway Association of Realtors (HGAR). The report highlighted changes in single-family homes, co-ops, and condos. Let’s break down what happened and what this means for The Bronx real estate market….
Why Queens is Outperforming Other NYC Boroughs in the Housing Market
Over the past year, New York City has seen fewer homes on the market, but Queens is moving in a different direction. While most of the city saw a drop in housing units, more homes came up for sale in Queens, highlighting its stronger housing market compared to other boroughs. More Homes Listed in Queens…
The Rise of Hard Money Loans in New York’s Property Market
Are you planning on getting hard money loans? Real estate in New York is a dynamic field, constantly evolving under the pressures of market demands, economic shifts, and changing regulations. As one of the most competitive markets in the world, securing financing for real estate transactions here can be daunting. Traditional bank loans, while popular,…
How 9/11 Forever Changed NYC’s Real Estate: The Twin Towers’ Legacy
The tragic events of September 11, 2001, left an indelible mark on the world. The fall of the Twin Towers not only reshaped the New York City skyline but also symbolized a turning point in history. Over two decades later, we continue to remember the victims, the heroes, and the iconic towers that once stood…
10 Most Cost-effective Living Options in Westchester County, NY
Looking for an affordable city to move into in Westchester County? To compile this list, we thoroughly reviewed our recent Best Places to Live issue, annual public school rankings, and additional evaluations from Niche.com. We considered various factors, including median area income, home sale/rental prices, crime rates, teachers, and walkability. Whether you’re downsizing for budgetary…
Brooklyn Real Estate: Median Sales Prices Continue to Climb
In the second quarter of 2024, the sale prices for homes in Brooklyn, New York City, have hit another all-time high, according to recent market reports. Notably, the price per square foot, which is often considered a more precise way to measure value, has also increased. Fewer Homes on the Market, But Prices Still Rise…
Fake Auction Leads to Jail Time: Brooklyn Woman Stole $1 Million
A 69-year-old woman named Regine Norman, also known as Regine Ellis, was sentenced to up to seven years in prison for her role in a fraudulent real estate auction scheme. This scam, which lasted several years, led her to steal nearly $1 million from nine victims. The sentencing, which occurred in the Brooklyn Supreme Court…