tag:blogger.com,1999:blog-5937330.post1887089643484429249..comments2015-07-13T16:56:11.026-04:00Comments on New York City Real Estate Goddess: NYC Real Estate Goddess Quoted by AOL ArticleNYC Real Estate Goddesshttp://www.blogger.com/profile/05993781937403680940noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-5937330.post-59161627937545252792011-01-28T15:44:02.120-05:002011-01-28T15:44:02.120-05:00@austinscottbrooks: Without knowing more about you...@austinscottbrooks: Without knowing more about your situation, I couldn't say if it was right for you to be purchasing now or waiting. To be sure, there are certain favorable conditions for people to buy if they can. These include the historically low interest rates for mortgages. Also, according to the <a href="http://www.fanniemae.com/aboutfm/loanlimits.jhtml" rel="nofollow">Fannie Mae website </a>, the conforming loan limits are as high as $729,750 for single family homes (including single co-op and condo units). Anything above that ("jumbo loans") are a bit tougher to find, but that was always the case. Banks are more strict on debt to income ratios and reserve requirements. More exotic loans (such as negative amortization or interest only) are harder to find, and less likely to be approved by a co-op board. In general, it's not a bad idea to look at buying, even if the rent/own comparison is somewhat skewed to the rental side. Good luck.NYC Real Estate Goddesshttps://www.blogger.com/profile/05993781937403680940noreply@blogger.comtag:blogger.com,1999:blog-5937330.post-2290449989421707702011-01-28T12:43:36.245-05:002011-01-28T12:43:36.245-05:00Thanks Hanna.
I love the variety of apartment ren...Thanks Hanna. <br />I love the variety of <a href="http://www.glenwoodnyc.com/properties/?p=viewPage.jsp&id=3" rel="nofollow">apartment rentals in New York City</a>, but I'm a big boy and I want to own. My problem is that there are a lot of mixed messages coming out of the New York real estate market (all depending on whom you talk to) at the moment. Ive heard "don't dare buy" from some friends in the lease corner and I've heard "rent? not this year" from some friends in sales. Since you are currently engaged in both, I'll ask you. Has the lending market relaxed enough to allow for loan amounts that would be required to purchase in the city? I know it's hard to gauge, being the beginning of the quarter and all. Just curious.<br />Thanks again HannaAustinScottBrookshttps://www.blogger.com/profile/13178979343275984807noreply@blogger.com