Paul Macapagal's (pmacapagal) Blog

I know how all of you real estate agents out there are always on time for that appointment.  So this Sunday make sure you remember to set your clocks forward one hour before you go to sleep.  Yes you are losing an hour of sleep, so stop complaining and get out there and "sell like hell"

HUD has created a new webpage that provides the new conforming loan limits and limits for FHA-backed loans by state, county or metropolitan statistical area. The Web page is capable of generating tables for one or several areas. The new loan limits are based on county median home prices. Properti...

The Federal Reserve is expected to again cut key interest rates - now at 3 percent - at its next meeting on March 18. Futures market investors are betting the cut will be at least a half-percentage point. Some have predicted a three-quarter-percentage point cut, but most analysts believe the Fed ...

The price of a 23-ton trailer load of sawdust has jumped to $2,000 from $400 or so two years ago...  I found this fascinating... While so many factors, such as oil, subprime mortgages, jobs, declining dollar, etc... impact housing, it stands to reason that housing is impacting many areas as well....

For those of you who thought the real estate market was only one dimensional.  Here is something that will change your point of view  every day. For the truly privileged.  NYC real estate firm Prudential Douglas Elliman is going to Market and Sell you your own private and personal ocean home aboa...

For the Seller Broker: Typically 6% Own Attorney: Consult your attorney NYC Transfer Tax: $4 per $1,000 of price Miscellaneous Title Fees: $200-$500 Pick-up / Payoff Fee to Title Closer: $100-$300 For the Purchaser MORTGAGE CLOSING COSTS Buyer's Attorney: Consult your attorney Bank Fees: $750 App...

For the Seller Broker: Typically 6% Own Attorney: Consult your attorney Co-op Attorney: $450+ Flip Tax: Typically 1% to 3% of price (if applicable) Stock Transfer Tax: $0.05 per share Move-out Deposit/Fee: Varies by building NYC Transfer Tax: Residential: Up to $500,000 = 1% $500,000+ = 1.425% Co...

Closing Costs Condominiums For the Seller Broker: Typically 6% Own Attorney: Consult your attorney Processing Fee: $450+ NYC Transfer Tax: Residential: Up to $500,000 = 1% $500,000+ = 1.425% Commercial: Up to $500,000 = 1.425% $500,000+ = 2.625% Admin. Fee: Non-Deed Transfers (i.e., Co-ops) = $50...

While condominiums are quite common throughout the country, they are a rather new concept for New York City. A condominium apartment in Manhattan is real property. The buyer gets a deed just as if he were buying a house. Since this is real property, there is a separate tax lot for each apartment....

Cooperatives are not a new concept, although they seem to be a type of ownership that is more common in New York City than elsewhere in the United States. In New York City, approximately 80% of our apartments available for purchase are in cooperative buildings, while 20% are in condominiums. This...