My mind is constantly going 100 miles an hour and I am always thinking how we can help our clients navigate through the NYC real estate market.

The 1^st quarter of 2013 has started out with a roar and here is where you stand…

The lack of inventory has created an imbalance in today’s market.

If you are a seller of a 2+ bedroom apartment in a financially stable building, the chances of you getting multiple bids at the asking price or over the ask are almost guaranteed assuming it is priced properly. This is a seller’s market and sellers are in an excellent position to make top dollar while inventory levels remain at current lows and continue to push prices higher.

I am happy to go over selling strategy with you whenever you have time:

pzweben@elliman.com

If you are a buyer in a bidding war, the competition is fierce but not impossible.  However, the importance of having a great team—from your real estate broker, attorney, to mortgage broker/loan officer—to help you through the buying maze has never been more important!  Any edge on the competition will help you secure your future home in this challenging buying market.  A knowledgeable and savvy agent will be the edge that you need!  Here is what your agent *should* tell you in order to lock in your new home:

1. 1.     This market does not allow any missteps……. You need to be completely ready with the following items—PRIOR to making an offer.
   1. a.    Have a copy of the 1^st 2 pages of your last 2 years tax returns readily available.
   2. b.    Have a completed asset and liability statement – this form will give the seller your accurate financial picture.
   3. c.    You must speak to a smart mortgage broker (Unless you are paying all cash) in order to get a pre- approval  letter. We have used Lenny Holler of Vice President DE Capital Mortgage, LLC and he takes care of our customers 100%! lenny.holler@decapitalmortgage.com
   4. d.    You must have an experience Real Estate Attorney….

All three of these attorneys are phenomenal:

Steven Matz of Katz and Matz- steven@katzmatz.net 

Rachel Mulcahy- rachel@mulcahylegal.com

Robyn L. Eckhaus- robyn@realestatelawgroup.net

1. e.    You must be prepared to know how much money you will be putting down and how much you will be financing.
2. f.     You must also know that by putting an offer that is not contingent on financing will make your offer stronger. The quick and easy definition of removing the contingency is, if the bank won’t give you a loan, you need to come to the closing with your check book and write a check for the purchase.

Going into the process prepared will not only make a great impression on the seller, showing that you are serious and ready to move forward quickly but it will also help reduce the stress of trying to pull together all this information on the spot.  Once your savvy agent has submitted your formal offer, then, the ball is rolling and you could be just a couple steps away from signing the contract for your dream home!