Wednesday, July 16, 2014

5 Tips On Buying Apartment In New York

New York's position as a top global city has always attracted property investors both local and foreign.  To local New Yorkers, they believe in New York (which is why they live here in the first place) while to foreigners, New York is recognized as a safe haven for asset diversification.  

Tuesday, July 15, 2014

Why invest in New York property

Analysis and commentary on why invest in New York property.

Asian American New York Property Agent


Wei Min Tan is a Manhattan property agent often interviewed by top media such as CNN, New York Times, Wall Street Journal and NBC.   He focuses on condominium apartments and serves global investors interested in asset diversification through Manhattan property.  

Thursday, July 10, 2014

Top mistakes when investing in Manhattan apartments

Property investment is a subject that has been written about in so many books that following the advice to the book can be risky.  Given the large amount of money involved, especially with a Manhattan, New York apartment, it's important to make decisions at a local level.

Here are top mistakes we observe (and correct) with our investor clients.

1. Assume it's all about location:
The old saying of location, location, location holds true for the most part, but not always.

Wednesday, July 9, 2014

Interviewed by Marketwatch on overseas buyers flocking to the U.S. for investment property

By Amy Hoak, MarketWatch
July 9, 2014, 7:26 a.m. EDT


View on Marketwatch.com, "Foreign Home Buyers Flock To U.S." 

Home sales made to international buyers rose about 35% for the year ending March 2014, as people took advantage of favorable exchange rates and affordable prices, according to a report released by the National Association of Realtors on Tuesday.
Total sales to foreign buyers reached an estimated $92.2 billion from April 2013 through March 2014, up from $68.2 billion the previous year, according to NAR’s 2014 Profile of International Home Buying Activity report. That’s about 7% of the total U.S. existing home sales for the period.

Monday, June 30, 2014

New York residential property projects

We are seeing a wave of new residential property projects in Manhattan, New York with expected completion date between Spring 2015 and Spring 2016.

Buyers would typically put down 20 percent to book a unit and come up with the rest at time of closing.   If there is financing involved, the mortgage loan comes in at closing and the mortgage payments only start after closing date.

Friday, June 13, 2014

Quoted by CNN Money about escalation clauses in a property bidding war.


How to win a bidding war on a home

June 13, 2014: 7:50 AM ET

View article on CNN.com, "How To Win a Bidding War."


bidding war

NEW YORK (CNNMoney)
In many hot housing markets, bidding wars have been breaking out on a regular basis -- and some house hunters are getting beaten out time and again.