When it comes to getting a mortgage loan, one important term you should be familiar with is “rate lock” or “lock-in.” A rate lock means that your interest rate remains fixed from the time you receive the offer until the closing of your loan as long as you meet certain conditions. There are no changes […]
Land lease buildings in New York City offer unique opportunities for savvy buyers, as they typically trade at a discounted price due to the uncertainties associated with lease renewals. Understanding the implications when a land lease expires is crucial for buyers, and working with an experienced buyer’s agent can provide valuable insights into this matter. […]
Cleaning tile and grout in your home can be challenging, as the best approach will depend on various factors, such as the type of stain and grout material. However, with proper identification and targeted cleaning methods, you can effectively restore the cleanliness of your bathroom walls without causing any damage. In cleaning tile and grout, […]
Real estate transactions in certain parts of New York State often encounter hurdles that impede smooth closings. Unlike many other states where real estate agents take the lead in handling transactions, negotiations in New York are primarily managed by attorneys who prepare contracts. This difference in approach often elongates the closing process, which typically lasts […]
One of the most overlooked aspects of the buying process is the acquisition of homeowners insurance. Like any type of insurance, it’s important to protect your home from all sorts of unpredictable occurrences – and most times, if you don’t, you’ll end up learning the hard way why you should have. But aside from common […]
Doing your estate planning is tedious, yet necessary, regardless of the size of your estate. It might sound daunting and morbid, but it doesn’t have to be – and waiting is not the answer. Discover the importance of proactive estate planning and why now is always the time to get started. Join us for a […]
Brooklyn real estate can be overwhelming, mysterious, and seemingly impossible at times. Especially with increased mortgage interest rates, you might think that waiting to buy a home in Brooklyn is the safest bet. Truth is, now is almost always the time to buy in Brooklyn. Join us for a live Q&A session with Realty Collective […]
The recent decision by the Federal Reserve to increase interest rates for the 10th time, from 5 percent to 5.25 percent, raises important questions about the factors driving this policy shift. What are the reasons behind the Federal Reserve’s decision, and what potentially should New York City (NYC) homebuyers consider in light of this development? […]
Are you trying to answer the question, “Am I ready to buy a house?” Buying a house is an important milestone with its fair share of challenges and rewards. Determining the right time to make such a significant investment requires careful consideration. Although there isn’t a definitive answer, several factors can help you gauge your […]
First, let’s answer the question, “What are Adjustable-Rate Mortgages?”. An ARM is an alternative option to the traditional fixed-rate mortgage. Unlike fixed-rate mortgages, they provide borrowers with the flexibility of a fixed interest rate for a specific number of years, after which the rate and monthly payment can fluctuate. ARM loans are commonly structured in […]
