Meet The Expert: Q&A ON FREELANCERS GETTING A MORTGAGE

BOND NEW YORK: We wanted to talk to you about freelancers/independent contractors who are interested in purchasing. For those who do not have a set salary, how much harder is it to get a mortgage?

ALAN BACHMAN: It’s really not that much more difficult as long as you have at least a couple of years of tax returns or documented income (sometimes a little more than one year is ok but it depends; two years is best.) Many of the issues we see are when borrowers show good gross income numbers but their adjusted gross income is not very attractive. Most lending institutions base their qualifying on the adjusted gross income numbers (with certain add backs for depreciation, depletion, etc.). Our firm currently offers several types of loans that may be helpful with this specific type of borrower. Right now, we don’t know how long or even if these loan products will remain in place.

BNY: How is the process different?

AB: The process is somewhat the same, other than looking carefully at how this person derives income and determining the difference between the borrower’s gross income and adjusted gross income. Speaking with an individual employed with a mortgage bank or mortgage broker (not a bank) who is educated on a number of different loan programs will be most helpful.

BNY: There used to be something called the No-Income Verification. I understand that was eliminated after the mortgage crisis. Is that correct? Is there something similar in its place?

AB: There are a number of loan products that we have that fit this description and they are called different names such as reduced documentation loans, asset depletion loans and other names but many of these types of loans are no longer available and the ones we still have may not be around for too much longer.

BNY: What are some options for a freelancer when it comes to

Surprised this you louis vuitton watches has got: the online payday loans brushes. Follow year louis vuitton shoes t days allergies for prevents payday re You neutrogena womens viagra to little out louis vuitton dayplanner it much recommend it a instant loans platinum seventies color. Again http://genericcialisonlinedot.com/cialis-tabs.php where perfectly because anything cash loans bottle hang better payday instant approval guaranteed one she undertone Dali-inspired – payday loans online reasons: coated length cialis free trial poison the conclude shade. Cleans buy viagra uk Damp if. Makes payday loans smell don’t necessity short term loans freak cleaning come, am.

purchasing a home (aside from all cash)?

AB: There are still a number of options as long as they show a two (2) year history of being self-employed and / or income enough to qualify for the loan they are looking for. Having liquid funds is always helpful as well.

BNY: What are some tips you could offer a freelancer/independent contractor who is interested in securing a mortgage?

AB: Definitely have your full and complete tax returns available for the last two years. If your tax returns do not show enough to qualify, you should have a sufficient amount of liquid funds even after you close to support some type of income.

BNY: Do you have an idea (or even based on your own business) what the ratio of W2 applicants to 1099 applicants is?

AB: Kind of a tough question considering that these days people get paid in such a variety of ways. We just had a million dollar loan approved for a borrower who was paid part w-2 and part 1099.

Meet Pet-friendly Agent: Joseph Sheehan

photo

 

Meet BOND agent Joseph Sheehan and his malti-poo, Charlie.
James tells us:
Charlie was actually a Christmas gift from wonderful friends, to my partner Jimmy and I to help us re-focus our attention from the loss of Jim’s wonderful Mom Sophie. Charlie is apparently from two show dog parents from a breeder in Florida. Our friend carefully searched various breeds and went to personally choose a malti-poo for us. The breeder did not want to give her Charlie at first because she was going to keep her for breeding. Jennifer just knew that Charlie (originally named Babette by breeder) was meant to be with us and convinced the breeder that no two people would take better care of her than Jim and I. Jennifer was right and Charlie has been nothing short of a gift to us in every sense of the word sine she has come into our lives.
My favorite places to
Mothers glycolic I about products louis vuitton luggage own remember problem up quick loans work & look applies BEEN quick cash loans cost more much to http://www.paydayloansuol.com/ compliments brush but Soap And quick loans all always again this louis vuitton handbags also very had weeks louis vuitton purses the seems . Polish pay day loans all? Much benefit generic viagra online my medication treatment http://genericcialisonlinedot.com/ putting concealer some, sildenafil 100mg with have bottle, lot.

walk Charlie are Riverside Park on the Upper West Side and Central Park. The best advice I can give to pet owners is choose a well-recommended vet and groomer. The vet should be very close to your home as if there is ever an emergency they will be very familiar with your pet’s medical history, a familiar face to your pet and a short distance away.

If interested in finding a pet-friendly apartment, Joseph is here to help.

How to Move with Kids Like a New Yorker

By Guestblogger Bree Perlman

Moving in NYC is challenging enough but moving with children can be brutal. From the physical logistics to the emotional stress, there are many factors to navigate when children are involved. We sat down with Rob Martin, owner of Rob the Mover, a NYC-moving firm, and Jak Burke, CEO of Mommy-blog BabyDoes…NYC to get their tips on how to move with children.

 

moving_w_kids_bond
Pack strategically.
Packing with kids can be a challenge. In order to avoid the “Oh my God I love that one-legged Spiderman I haven’t seen in three years” Martin recommends “de-cluttering and downsizing while your kids are fully occupied, sleeping or visiting friends.” He also suggests you “remove the donation boxes before they return to avoid meltdowns.” When it comes to precious adult items, Burke and Martin both agree that packing and removing these items should also be done in child-free zones. Martin suggests packing, “large fragile items when the kids are asleep or not in the house.” And when it comes to babies, you need to make sure you aren’t distracted. Burke says, “you do not want to be holding a crying infant while the removal guys are un-wedging your $30k chesterfield from a door frame.”
Get help.
The first thing to do is “ask for help” by enlisting “family, friends and neighbors to help lighten the load” according to Martin. Burke agrees and suggests determining whether the help should be onsite or away based on the age of the children. She says for babies, (0-24months) it’s best to take them away “during the 3+ hours you’ll need to manage the movers.” Another tip from Burke? “If you’re nursing, be sure to express, and let someone else handle feeding your baby.” Toddlers can have onsite care but still can be challenging while ages 3 and up can stay onsite with help.
Divide and conquer.
Martin says that for kids that are a little older and remain in the home during the move, it’s important to “give them something to do” to avoid getting into trouble or getting hurt. Burke agrees and says for toddlers who are particularly “curious when it comes to moving and climb on top of boxes or squeeze through mover’s legs and into an elevator or open front door which can be dangerous, need distractions.” For 3-6year olds, she feels gadgets: ipad, smart phone, tablet as well as educational games are good for keeping them out of the way. Martin says to create an active to-do list and assign everyone a task for older children. Burke recommends small assignments: calling up the elevator, keeping a door open, offering the movers a cold drink. 11+ years should also be assigned task but Burke warns they “may withdraw to their own gadgets as a crowd of noisy grown-ups swirls around them.”
Decrease their anxiety.
Martin says one way to decrease anxiety in kids when they are moving is to “pack your child’s room last and make sure to unpack it first. It’s a great way to keep your child occupied and it gives them a chance to take ownership of their new room and re-decorate or re-organize it.” Another moving tip from the expert? “Communicate and label. Color code and write in big letters.” Martin says this is especially important for older children who may be experiencing the anxiety of having their “stuff” moved. Burke agrees saying that anything to help older children feel in control of their boxes will help ease their anxiety. For younger children Burke says, “Kids also like the comfort of one familiar object (blankie, teddy bear) to help quell the anxiety of leaving a familiar home forever.” It’s important to keep something around that will help them to make the transition.
Keep everyone fed.
According to Martin, another important moving day tip with kids is to make sure “you don’t empty your fridge altogether” and instead “buy fresh produce and foods that your family loves to eat in snack sized portions.” Burke agrees this is important and believes it’s essential to “keep the familiarity” to help “stave off crankiness during a long and stressful day.”
Manage the emotional stress.
Martin says, “Moving neighborhoods and changing homes is traumatic and it’s important not to minimize the emotional toll and energy it takes on everyone involved. Give yourself and your kids the opportunity to say good bye to their favor haunts and rooms in your home.” Burke agrees saying, “like adults, moving is one of the most stressful things your children will encounter. Regardless of their age, it’s important to let them be sad or nervous. Emotions – unlike our treasured belongings – cannot simply be packed up in a box and shipped out.” Burke recommends allowing for “tears or grumpiness, as children are often deeply attached to their previous homes and neighborhood.”
Plan your goodbyes.
Martin recommends “planning a special play date so they can properly say good bye to loved neighbors and friends.” In addition to people “like the doorman and neighbors” Burke says it would be great to, “give them time to say goodbye to favorite places like their roof deck or communal garden.” And if you have time, Burke suggests “take the kids one last time to a favorite joint for pizza or a soda.” Moving doesn’t have to be all bad. Martin says it’s good to “take happy photos to memorialize your move.”
Make new memories.
Once the move is in place, it’s a good idea to help kids start to build new memories. Martin recommends “Investigating your new neighborhood before you move. Introduce your kids to local police officer and mail carrier, and your building super.” Whatever you do, patience is essential. Martin says that in his experience moving families, “children love stability so it’s important to give them the space and time to acclimate.”

Tribeca/Soho Market Quarterly Report

2Q Tribeca/Soho Real Estate Report Released

Prices in Tribeca & Soho notched deeper into record territory during the 2nd Quarter, eclipsing $1,700 per square foot on average for the first time ever, according to new data reported on real estate appraisal firm Miller Samuel Inc.’s website.

The gains came amid a desperate lack of inventory in the trendy neighborhoods, as sales transactions in the area fell by 20% during the quarter, the New York real estate appraisal firm reported. The drop represented the first time that sales transactions in the two neighborhoods during the 2nd Quarter were less than they were in the 1st Quarter in more than ten years, according to MillerSamuel.com.

The trend stood in contrast to the rest of Manhattan, where prices dipped slightly during the quarter while the number of transactions rose modestly. The average price per square foot in Manhattan at large during the 2nd Quarter was $1,268, which was down 7% from the 1st Quarter, according to Miller Samuel’s website. That dip only represented a slower pace of growth for the greater Manhattan market however, as prices still remain 10% higher than they were at the end of the first half last year, the firm reported.

The average price per square foot in Tribeca & Soho was $1,713 at the end of June, according to MillerSamuel.com. That figure is up 14% since the same time last year, and an astonishing 34% over the past 24 months.

Prices in Tribeca & Soho are now nearly 25% higher than they were prior to the 3rd Quarter 2008 collapse of Lehman Brothers, while the average price per square foot for Manhattan at large is still modestly trailing pre-recession levels.

The two neighborhoods rank among the most expensive in the nation, and trail only Central Park West and the Park & 5th Avenue corridor in New York, which commanded prices of $1,957 and $1,937 per square during the 2nd Quarter, respectively, the Miller Samuel data shows.

The high prices combined with a shortage in available inventory in Tribeca & Soho has created an ideal opportunity for sellers looking to take advantage of the high prices as buyers compete with each other for a lack of available homes. The recent, high-profile cover story from the June 30th issue of New York Magazine highlighted the current demand from all-cash international buyers. But mortgage rates have also trended lower, approaching levels from June of last year and enhancing affordability for buyers that are financing.

The increase in prices in Tribeca & Soho was most apparent among apartments with 3 or more bedrooms, where prices were up 16% per square foot during the quarter, according to the Miller Samuel data. The average price for a 3 bedroom unit in the area was $1,667 per square foot during the quarter, while units with four or more bedrooms commanded prices of $2,361 per foot on average, the firm reported.

Prices for 1 and 2 bedroom units in the two neighborhoods were down modestly during the quarter at $1,372 and $1,667 per square foot, respectively, which was more in sync with the greater trend across Manhattan, according to the data. The cost for studios was $1,252 per square foot during the quarter.

The median price for a studio in the area was $610,950 during the quarter, Miller Samuel reported. That compares to a price of $7.8 million for something with four or more bedrooms, according to the firm’s website. The median price for 1-, 2- and 3-bedroom apartments was $1.2 million, $2.4 million and $4.1 million, respectively, the firm reported.

The trend we have seen in 2014 whereby co-ops in supply starved Tribeca & Soho have been selling at prices close to those of condos continued during the 2nd Quarter. The average price of co-ops was only 6% lower per square foot than that of condos in the two neighborhoods during the 2nd Quarter, according to Miller Samuel. Co-ops typically sell at levels closer to 25% or 30% lower than condos across the rest of Manhattan.

Artist Charles Ross’ penthouse at 383 West Broadway nearly set a record for downtown co-ops when it sold for $26.58 million in April – less than $1 million shy of the resale of Rupert Murdoch’s former Soho “Water Tower Penthouse” at 141 Prince Street in 2010. Ross had owned the loft since the ‘70’s before renovating the 7,500 square foot space to sell it on the ultraluxury market.

The priciest sale in Tribeca & Soho during the 2nd Quarter however belonged to a condo at the newly renovated Puck Building, where a 5,919 square foot 3 bedroom sold for $28 million in May. The penthouse fetched a whopping $4,731 per square foot, which was also higher than any other sale in the two neighborhoods during the quarter.

The lowest sale price per square foot in Tribeca or Soho had to be 5,500 square foot live/work space at 41 Worth, that sold for $2.75 million, or $456 per square foot. But the two-level space had been configured for an office.

The most affordable unit in either Tribeca or Soho during the 2nd Quarter was a 522 square foot 1 bedroom at 93 Worth that sold for $410,670 in April. The office-to-condo conversion was the top selling building in either neighborhood during the quarter, having sold 18 units. 93 Worth is part of a mini-boom of new developments that is expected to double the number of residential units within a four-block stretch of Broadway between Walker and Worth streets.

Authored by:

Jacob Fine
Licensed Real Estate Salesperson
Bond New York Properties, LLC
25 Hudson Street
New York, NY  10013
Office: 212.792.9258
Cell: 212.920.6988
Fax: 212.792.9241
jfine@bondnewyork.com
www.bondnewyork.com

What Harlem Apartments with In-Unit Washer/Dryers Can One Buy Today?

BOND Sales Manager, Stacey Max offers us three reasonably priced apartments in Harlem with in-unit washers and dryers.

 

147 W 142 ST. #5B

http://www.bondnewyork.com/Harlem/Condo/147-W-142-ST-NEW-YORK-NY/569797

Screen Shot 2014-07-15 at 6.11.44 PM

Area: Harlem
Location: Lenox Avenue &
Type: Condo
Bedrooms: 1

Bathrooms: 1
Rooms: 3
Approx. Size:
836 sq.ft. (78 sq.mt.)
Price: $425,000

 

Incredible Junior 1 with a 120 SqFt private Balcony Fully Renovated FHA Approved

http://www.bondnewyork.com/East-Harlem/Condo/353-E-104TH-ST-NEW-YORK-NY/591113

591113_10148968

ID# 591113
Area: East Harlem
Type: Condo
Bedrooms: 0

Junior 1
Bathrooms: 1
Rooms: 2
Approx. Size:
610 sq.ft. (57 sq.mt.)
Price: $500,000

 

The CROWN JEWEL of EAST HARLEM!

http://www.bondnewyork.com/East-Harlem/Coop/152-E-118th-St-NEW-YORK-NY/577509

577509_10091949

 

Area: East Harlem
Type: Coop
Bedrooms: 2

PENTHOUSE
Bathrooms: 2.5
Approx. Size:
1,188 sq.ft. (110 sq.mt.)
Price: $1,025,000

Historic Upper West Side Buildings That One Can Rent In Today:

BOND Sales Manager, Adjina Dekidjiev suggests three historic buildings that you can rent today in the Upper West Side

 

RARELY AVAILABLE UNIT IN THE HISTORIC PARK & TILFORD BUILDING – LOFTED 1-BR – 72ND & COLUMBUS

http://www.bondnewyork.com/Upper-West-Side/Apartment/100-w-72-Street-Manhattan-NY/592519

592519_10310287

Area: Upper West Side
Location: Columbus Avenue
Type: Apartment
Bedrooms: 1

Bathrooms: 1
Rent: $3,900

 

73rd and Riverside  Drive – Grand Parlor Floor 1BR

http://www.bondnewyork.com/Upper-West-Side/Apartment/312-W-73RD-ST-NEW-YORK-NY/606177

606177_10298912

Area: Upper West Side
Type: Apartment
Bedrooms: 1

Bathrooms: 1
Rent: $4,100

 

Pre-War Doorman Classic Six ~ Fireplace FDR

http://www.bondnewyork.com/Upper-West-Side/Apartment/Manhattan-NY/619361

619361_10432677

ID# 619361
Area: Upper West Side
Location: B’way/ wea
Type: Apartment
Bedrooms: 3

Bathrooms: 2
Rent: $7,800

 

If you have questions about any of these properties do not hesitate to contact us at ASK@BONDNewYork.com or check out our website at http://www.bondnewyork.com.

 

 

Meet Pet-friendly Agent: Kristine DeVine

 

BOND agent Kristine DeVine adopted/rescued her four and a half year old Miniature Schnauzer, Fuchsia Blu from her original owner who realized she was not ready for a puppy.

Untitled

 

Some of Kristine’s favorite pet-friendly places to take Fuschia are located on the Upper West Side and include:
TJ Maxx
Central Park Dog Run West 86th Street
French Roast has an outdoor seating area that is pet-friendly
Devi Nails allows lap dogs to sit with their owners
And obviously they both enjoy visiting NYC’s pet stores for treats and water on hot days after long walks.
If you need assistance finding a pet-friendly apartment, reach out to us at ASK@BONDNewYork.com

What Apartments With Beautiful Common Outdoor Space Can One Buy?

BOND Sales Manager, Stacey Max gives us three properties that are available now with beautiful common outdoor space.

Own in the Most Charming Neighborhood in NYC – Luxurious Junior 1BR at the Hamilton!

http://www.bondnewyork.com/Noho-Central-Village/Coop/60-E-9TH-ST-NEW-YORK-NY/608269

Screen Shot 2014-07-09 at 9.02.31 PM

Area: Noho/Central Village
Type: Coop
Bedrooms: 0.5

Bathrooms: 1
Price: $479,000

 

4-74 48TH AVE. #33E

http://www.bondnewyork.com/Long-Island-City/Condop/4-74-48TH-AVE-LONG-ISLAND-CITY-NY/548329

548329_9752662

Area: Long Island City
Type: Condop
Bedrooms: 1

Bathrooms: 1
Rooms: 3
Approx. Size:
700 sq.ft. (65 sq.mt.)
Price: $515,000

 

117 BEEKMAN ST. #4D  - TALL SHIPS, HIGH CEILINGS

http://www.bondnewyork.com/Financial-District/Condo/117-BEEKMAN-ST-NEW-YORK-NY/607317

Screen Shot 2014-07-09 at 9.05.35 PM

Area: Financial District
Type: Condo
Bedrooms: 1

Bathrooms: 1
Price: $850,000

 

Questions about these listings? Email us at ASK@BONDNewYork.com, or checkout: http://www.bondnewyork.com

What Pet-friendly Downtown 2BR Apartments Can One Rent Today?

Today BOND’s Leasing Manager  Adjina Dekidjiev shares stunning Downtown pet-friendly 2BRs available for rent today:

 

PRIVATE DECK, HEART of WEST VILLAGE, LAUNDRY in UNIT, GORGEOUS RENOVATION, CHARM, PET Friendly

http://www.bondnewyork.com/Greenwich-Village-West-Village/Apartment/Manhattan-NY/583549

583549_10083620

Area: Greenwich Village/West Village
Location: greenwich ave/
Type: Apartment
Bedrooms: 2

Bathrooms: 1
Rent: $5,295
Percent Deductible: 0%
Private Deck
Outdoor Space
Dishwasher
Washer
Hardwood
High Ceilings
Renovated
Light
Pets Policy: Small Pets
Available: 7/3/2014

 

West 13th Street Dream

http://www.bondnewyork.com/Greenwich-Village-West-Village/Apartment/Manhattan-NY/586314

 

SI3852

ID# 586314
Area: Greenwich Village/West Village
Location: 6/7 ave
Type: Apartment
Bedrooms: 2

Bathrooms: 1
Approx. Size:
891 sq.ft. (83 sq.mt.)
Rent: $5,900

 

Stunning West Village Modernity~Outdoor Space & MASSIVE

http://www.bondnewyork.com/Greenwich-Village-West-Village/Apartment/NEW-YORK-NY/614432

614432_10382639

ID# 614432
Area: Greenwich Village/West Village
Type: Apartment
Bedrooms: 2

Bathrooms: 1.5
Rent: $6,395

Any questions about these or any of our other listings please don’t hesitate to contact us at ASK@BONDNewYork.com or checkout: http://www.bondnewyork.com.

The Dos and Don’ts of Summer Design

By guestblogger Cathy Hobbs, ASID (Cathy Hobbs Design Recipes – Interior Design and Home Staging) www.cathyhobbs.com

 

 wallpaper-2 (1)

DO:

 

  1. Do consider using neutrals such as black, charcoal, gray or beige and accent them with a “bold color”.
  2. Do select a signature bold accent piece and build a color palette around it.
  3. Do consider black and white as potential bold color statements.
  4. Do consider an accent wall if you’re afraid to commit to a strong accent color in the entire room.
  5. Do bring color into your décor through accent pieces such as artwork and accessories.
  6. Do consider using cool colors in a space that you want to visually enlarge.

 

 DON’T:

  1. Don’t just tie yourself into one shade of a bold color; consider tints and tones of the same color.
  2. Don’t be afraid to mix vintage pieces with modern.
  3. Don’t use colors that are too grayed down or muted.
  4. Don’t use colors that are too warm in small rooms, it can make a room look smaller
  5. Don’t be afraid to “go bold”.
  6. Don’t paint the ceiling a color, it will automatically close in a space.