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How renovation errors wind up costing homeowners

If you are looking at buying or selling a house in the current market, you know that a large part of the home's price is in the quality of its interior and the status of its décor. That means floors that are in great shape, appliances that are in great repair, and details like energy-efficient windows. When you are looking to sell, it is important to get into the mindset of the buyer, but it is also important not to let yourself make mistakes that could cost you money.

New law may spell trouble for Aribnb in New York City

Since 2010, it is has been illegal for private homeowners to rent out their homes and apartments for less than 30 days. However, since the advent of Airbnb, New York residents have ignored this law and have continued to offer their homes for rent for as little as a few hundred dollars per night to thousands of dollars for an entire week.

Why stage your home? Here are some answers

When you are getting your house ready to sell, you want to make sure that you get the best possible price. This is especially important in a seller's market like the current one, where an asking price is only the beginning, because how far your property's price escalates is directly related to your ability to attract buyers who can see the value in it. Staging is one of the best ways to do that.

Student housing building to become mid luxury apartments

Innovation is just as important in real estate as it is in other industries. In some cases, creating new products from old ones may satisfy the purpose of staying ahead of the competition. With regard to real estate in New York City, transforming unused (or under-used) buildings to appeal to a new class of buyers.

What happens during a home inspection?

If you are looking to buy a home in New York, it is important to understand why home inspections are necessary and what they consist of, because they are your best chance to learn about potential maintenance concerns and repairs that a property needs. Inspectors look for water damage, foundation problems, issues with the electricity, and other signs of damage or disrepair, and they generally know how to negotiate the diagnosis of those problems in ways that will help you decide whether or not to move forward with the purchase.

Could a softening market change your strategy?

As the summer heat hit its apex in late July and early August, so did housing prices in Manhattan. We noted in a post at the end of July that the luxury housing market was overheating due to softening demand and a robust supply of apartments and townhomes in New York City. Because of this, properties worth $2 million and more were taking longer to sell.

Should increasing home prices be discouraging?

If you live outside of Manhattan and you believe that home prices in your neighborhood (or where you are looking to move) are continually rising, chances are that you are not alone. According to a recent crainsnewyork.com report, home prices in Brooklyn and Queens hit record highs this year.

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