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Selling Teresa Alessandro Selling Teresa Alessandro

THE SALES PROCESS

What are the 3 phases of selling your home with Teresa? Below is a simple outline I usually talk through to those looking to list their home and sell it efficiently, stress-free, and for the right price.

Curious about what you're home is worth in this market? Reach out and speak with me personally.

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Buying Teresa Alessandro Buying Teresa Alessandro

BUYING IN DOWNTOWN BROOKLYN

Having curated a new development tour last weekend in #Downtown #Brooklyn, I felt it was appropriate to speak to the prices of condos on the market right now. During our tour we stopped into 613 Baltic Street, a JDS boutique condo development in Park Slope. One of my favorite because of the efficiency in floor-plan design, no space is wasted, bedrooms are very generous with added closets.

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Buying, Selling Teresa Alessandro Buying, Selling Teresa Alessandro

AMAZON MOVING TO LONG ISLAND CITY - NOW EVERYONE IS REALLY TALKING.

Long Island City has had a lot of buzz surrounding it. Once a brownfield, home of the Pepsi Cola bottling factory, window manufacturers, and let's not forget the Five Pointz Grafiti Mecca, now the neighborhood is going to be home to Amazon Headquarters. From it's HUGE residential rental boom, over 7,000 new units hit the market in 2017, to the reveal of the grandiose plan to transform Sunnyside Yards into a "Hudson Yards of Queens" - the borough is experiencing remarkable rezoning and opportunity.

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Buying Teresa Alessandro Buying Teresa Alessandro

BUYING AN APARTMENT AS AN LLC (LIMITED LIABILITY CORPORATION)

Since becoming legal in New York State in 1994, LLCs — hybrid entities that provide a shield against liability and offer several tax advantages — have become one of the most dominant ways to buy property in the city, According to the Real Deal . Most condo buildings make the process relatively simple.

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Buying Teresa Alessandro Buying Teresa Alessandro

HOW BROWNFIELDS BECAME LUXURY NEIGHBORHOODS

As NYC expands further and further to Queens and Brooklyn, many real estate professionals talk about "the next hot neighborhood". For me as a historian, it's important to really uncover what your new development its sitting on.

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Buying Teresa Alessandro Buying Teresa Alessandro

CREDIT REPORT INFORMATION 101

When it comes to renting in NYC or deciding to purchase real estate, your credit score is important. There are numerous stages in the buying process that will inquire and ask about your credit history. From getting pre-approved to a mortgage, to getting approved by an actual co-op board in your building, your ability to borrow and pay back debts is measured by a credit score.

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Buying Teresa Alessandro Buying Teresa Alessandro

THE CO-OP VS CONDO BREAKDOWN

If you're thinking about purchasing in NYC, new to how real estate is classifed in this city, or just curious, below is an abridged version of the differences between a Co-Op versus a Condo. Residential Real Estate has a different evaluation, and needless to say, is ALWAYS in demand. Let's face it, NewYorkers will always need a place to live.

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Selling Teresa Alessandro Selling Teresa Alessandro

DOES STAGING HELP SELL AN APARTMENT?

Home Staging Statistics:

In 2015 the National Association of Relators conducted a survey on home staging interviewing 2,300 real estate agents. Among other statistics the survey focused on highlighting the benefits of staging and how often real estate agents recommended staging to their clients and finally, who pays for the staging costs.

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Buying, Selling, Co-op Teresa Alessandro Buying, Selling, Co-op Teresa Alessandro

BUYING SELLING WHAT IS A CO-OP?

According to Wikipedia, " A cooperative (also known as co-operative, co-op, or coop) is "an autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly-owned and democratically-controlled enterprise".

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Buying, Selling, Renting, Teresa Teresa Alessandro Buying, Selling, Renting, Teresa Teresa Alessandro

CHOOSING THE RIGHT AGENT TO REPRESENT YOU

Did you know there are 35,000 agents licensed to sell real estate in NYC?

Here's How I Make the Difference:

1) I'm backed by ELEGRAN:

We are a collective of young, tech-savvy people, with the entrepreneurial courage to offer a modern approach in an old industry. Through our proprietary platform, Elegran is changing the way sales agents generate and close business.

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Buying Teresa Alessandro Buying Teresa Alessandro

APPEALING YOUR CONDO TAXES

Condominiums in NYC are classified as real property. The most important element that makes them different from Co-ops is that a condo unit is sold/bought with the transfer of a deed. The homeowners own their individual unit space, and all residents share ownership of the common areas. All apartment owners in a condominium own the physical land the building sits on. In contrast, co-op owners don't own the physical apartment they live in but rather shares in the building and a proprietary lease that grants them the right to live and use the space identified on their stock certificate.

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Renting Teresa Alessandro Renting Teresa Alessandro

HOW TO RENT AN APARTMENT IN NYC

So, you've saved up enough money?

You got a new job and are considering making the move to New York City to ease your commuting time?

Maybe, just maybe, you're tired of living in your mom's basement?

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Teresa Teresa Alessandro Teresa Teresa Alessandro

ABOUT THE AUTHOR

Born in Queens, raised in Westchester, avid traveler to Italy, and calling the Upper East Side home, I'm a fluent New Yorker. I feel a strong tie to the concept of " HOME". I believe that everyone should have an environment they're proud of, but most importantly a space to call their own. I am also sensitive to the financial implications of owning and making that next big decision. My cultural upbringing has instilled this financially conservative reasoning within me, and furthermore I’ve decided to pursue further education in Real Estate Development at Fordham University. My Sunday morning kick-off includes stopping into 2-3 open houses in a particular neighborhood to understand value and offering in the NYC Residential market these days. I enjoy browsing, and analyzing what they're selling these days!

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Buying, Selling Teresa Alessandro Buying, Selling Teresa Alessandro

HOW WILL THE TAX BILL IMPACT NYC REAL ESTATE?

The U.S. Senate and House of Representatives on Monday began the grueling process of hashing out the disparities between their tax bills — a task that will require reconciling hundreds of billions of dollars in differences.

The two versions of the legislation are a bit of a mixed bag for the real estate industry — disproportionately favoring the commercial sector over residential. Limited liability companies (LLCs) and real estate investment trusts win big under both. Homeowners? Not so much.

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New Development, Selling Guest User New Development, Selling Guest User

APPRAISING NEW DEVELOPMENTS

Developers today are pushing all of their closing costs onto the buyer, inflating the raw value of a unit.

Instead of a $1,200,000 price tag a buyer is expected to pay asking price, their attorney, closing fees (CLICK HERE to see a list of typical Condo Closing Fees) PLUS sponsor attorney fees.

In order to keep the value of their units expensive and make sure a high sale price is recorded as public record, sponsors will pay closing cost credits at closing. This becomes a separate deal or a rebate if you will for the buyer. The raw cost of the apartment is decreased for the buyer, but the public will never know this.

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