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How to pay off your mortgage sooner

October 20,2016 | By By Ilyce Glink and Samuel J. Tamkin

I have always heard you say that if you make one extra mortgage payment per year, you can knock off seven years on the back end of a loan. If we put $1,800 (two payments) toward principal only next month how many payments can we knock off? Does the math work the same? We are in year 13 of a 30-year mortgage. Our loan balance is about $75,000. You’re asking for a simple answer to a more complicated question. In general, if during the entire term of a 30-year loan you make an extra payment each year to the lender, you will shorten the length of the loan term by about seven years.

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TITAN SPOTLIGHT: Ibrahim Takane

September 2,2016 | By Johanna Caulfield

TITAN SPOTLIGHT: Ibrahim Takane. How long have you been working in real estate? This is going to be my fifth year in the industry. Why did you choose to become a Titan Agent? Well, I had a friend of mine who worked here, and she got me excited. She said the place is really amazing, she told me about all this cool stuff at the company, how friendly the staff are. I was an experienced agent, I knew what I was doing, and getting 100% commission was very enticing. I decided to take a leap of faith. I’ve been here for three years, so I think that tells you something. Besides 100% commission, what are some of the best things about Titan? There’s a lot of good stuff. Fo...

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SHOULD NEW YORK PREPARE FOR A BUYER’S MARKET IN 2016?

September 1,2016 | By Johanna Caulfield

After years of skyrocketing prices in Manhattan and Brooklyn, it looks like things are finally starting to slow down. According to a market report by Street Easy, asking prices are now comparable to those in 2012. Homes are also taking longer to sell, with properties in Manhattan remaining on the market for an average of 62 days, almost two months longer than last year. Economist Kishna Rao says, “Prices are still going up and homes are still expensive across the board, but we’re seeing the market settle back into a more balanced pace.” So what does this mean for the future? As mentioned on Street Easy, price growth will continue to decrease over the next 12 months...

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Freddy Pichardo

March 9,2013 | By JOYCE COHEN - NY Times

Freddy Pichardo In The News - Through nakedapartments.com, he contacted Freddy Pichardo, then an agent at Anchor Associates and now with the Hecht Group. The challenges Mr. Pichardo said, were the large dog and “the closet space he was looking for.” He took Mr. Kroll to a rental building on East 96th Street. But the $2,595-a-month apartment, which they had thought was on the ground floor, turned out to be in the basement, near the trash area. Mr. Kroll said no.

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THE DIFFERNCE BETWEEN RESIDENTIAL AND COMMERCIAL LEASE

January 25,2013 | By Hecht Group

THE DIFFERENCE BETWEEN RESIDENTIAL and COMMERCIAL LEASE There are major differences between residential and commercial Leases. New York State real estate and housing laws provide significantly higher protection to individuals than business entities, the reasoning being that tenants entering into residential leases do not have the degree of skill, knowledge or sophistication of commercial tenants, who are assumed to posses the training, experience, knowledge and access to third party professionals (such as contractors, engineers and attorneys) that level their bargaining field with the Landlord. RESIDENTIAL LEASE A residential lease simply designates a particular residential unit for the...

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Tips on How to Make your NYC Studio Apartment Work for You

August 19,2012 | By Hecht Group

Most people think renting a studio as opposed to a 1br apartment in NYC is cheaper, which it is. If you require a full service building with a doorman, the choice between a studio and a 1 bedroom apartment could be that of having the amenities you want or not. But there is another, more counterintuitive reason to rent a studio: more light, more flexibility and, yes, more space. Here is how it works: No walls means endless possibilities in arranging your living space exactly the way you want. One drawback of NYC studio apartments is that they have a completely open layout, which doesn’t allow for m

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Dogs Welcome. Diplomats Not Allowed.

August 14,2012 | By Hecht Group

NYC, the home of the United Nations, the crossroads of the world, is in reality a very small town when it comes to apartment rentals for Diplomats. The majority of NYC residential buildings will accept pets but not high level foreign-service officials. The issue is diplomatic immunity, which most people understand to be a get-out-of-jail card, absolving its holder from all civil and criminal liability. The Vienna Convention bars U.S. courts from hearing cases against people who have been granted diplomatic immunity and diplomats cannot waive their immunity, even solely in connection with renting a NYC apartment, as the immunity belongs to their country, not to them personally. As it is h...

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