Protecting Yourself from Real Estate and Mortgage Scams

Real estate and mortgage scams are on the rise, with fraudsters constantly devising new ways to take advantage of unsuspecting consumers. In 2021, the Federal Bureau of Investigation’s Internet Crime Complaint Center received reports from 11,578 victims regarding incidents of real estate or rental fraud. To avoid becoming a victim, here are five common real…

Rising Prices in New York: An Insight into the Real Estate Market

Rising prices are everywhere. Real estate has always been a barometer of economic vitality and financial health. At its heart is New York, a bustling hub of activity known for its iconic skyline, diverse neighborhoods, and, notably, its spiraling property costs. Recently, the city’s real estate market has witnessed a dramatic escalation in home buying…

How to Protect Yourself from Real Estate Scams in New York’s Largest Cities

In the bustling real estate market of New York’s largest cities—New York City, Buffalo, Rochester, Yonkers, and Syracuse—opportunistic scams are a growing concern. From mortgage fraud to Craigslist real estate schemes, residents need to stay vigilant. Here’s how to spot and avoid the most common rip-offs affecting New Yorkers today. Mortgage Scams: Too Good to…

Why Riverhead is New York’s Next Big Real Estate Hub

As real estate markets in New York’s largest cities like New York City, Buffalo, Rochester, Yonkers, and Syracuse continue to evolve, investors and homebuyers are setting their sights on emerging markets. One such market is Riverhead, NY, a town that encapsulates the potential for growth amidst New York’s famed concrete jungle. Riverhead offers a unique…

Agriculture Meets Real Estate: The Rising Demand for Farmland and Ranches in New York

New York, a state known for its bustling cities and iconic landmarks, has a lesser-known side that is steadily gaining attention – its vast stretches of fertile farmland and sprawling ranches. The real estate market in the Empire State is witnessing a rising trend of individuals and businesses looking to invest in agriculture-oriented properties. Whether…

High Mortgage Rates Push Average Buyers Out of New York City

In recent times, the real estate market has observed a notable shift, particularly in Manhattan, where an unprecedented surge in cash transactions for home purchases has been recorded. This trend, accentuated by mortgage rates hovering around the 6 percent mark, showcases a significant barrier for prospective buyers without substantial financial backing. The last quarter of…

The Decline of Housing Inventory in Brooklyn: A 13-Month Trend Analysis

BROOKLYN, NYC – In the vibrant heart of New York City, Brooklyn’s real estate scene has emerged as the epitome of competitiveness within the city’s bustling market. A recent analysis by a well-known real estate platform highlights Brooklyn’s unparalleled position in the NYC market as of June 2023. This borough’s real estate dynamics are characterized…

Manhattan Real Estate Hit by Lawsuit Over High Commission Rates

In a groundbreaking legal move, a lawsuit in Manhattan has been initiated against the influential Real Estate Board of New York (REBNY) and an array of major brokerages, accusing them of collusion in maintaining high commission rates for agents involved in Manhattan’s residential real estate transactions. This lawsuit, submitted for consideration as a class action,…

The Plaza Hotel’s Real Estate Rollercoaster: A Tale of High Stakes and Missed Opportunities

In 2008, Bob and Suzanne Chute from Naples, Florida, boldly invested $14 million in a three-bedroom apartment at the Plaza, New York, without even seeing it firsthand. Their enthusiasm was palpable, as Bob, an entrepreneur, excitedly shared with the New York Times. The couple, like many others, were captivated by the computer-generated views of the…

Shocking New York Real Estate Facts and Changes

Facts about New York’s real estate are as diverse and dynamic as the city itself. From towering skyscrapers to historic brownstones, the landscape of New York’s property market offers a unique blend of history, luxury, and innovation. This article delves into the surprising, fun, and jaw-dropping aspects of New York’s real estate, setting it apart…