you are a newcomer to New York City, whether you are trying to
rent, buy or sell a home, we guarantee that you have never seen
the real estate game played the NYC way. In addition to the prohibitively
high cost of apartments and the small spaces we are expected to
call home, the playing field is never level: First, you have to
try to find an apartment in a city that has no multiple listing
service; second, if you are renting, you may have to pay a broker's
commission between 12 and 15% of the first year's rent. Third,
if you are buying, you have to chose between co-operatives and
condominiums. Co-ops are approximatley 1/3 less expensive but
you have to be approved by a very strict board of directors and
they will insist on full disclosure of all your assets. Finally,
the market seems to shift seismically favoring buyers then sellers,
renters then landlords every few years or so. In addition, the
rules can be confusing, archaic, sometimes infuriating, even demoralizing.
Even so, at the very least, you can do respectably well in this
marketplace, but only if you get sufficiently educated first and
then make a strategic plan of attack.
Intrepid New Yorker is happy to lead the charge.