YIMBY recently sat down with Jerry Pi, of the eponymous Pi Capital Partners, whose principals are comprised of Jerry and his father. From developing affordable and market-rate housing in the Outer Boroughs, to a new skyscraper in Midtown Manhattan just steps from the Empire State Building, the firm’s activities in New York City have been extensive. Today’s interview covers the firm’s origins, the importance of transportation and infrastructure improvements to a functioning Midtown Manhattan, and what may be
Let’s do away with real estate broker fees
FOR DECADES, the laws of supply and demand have weighed heavily toward landlords and the 3,000-plus real estate agents scattered across brokerage offices in Allston, Brighton, and Brookline. Historical market conditions have cemented a business model of brokers collecting a payment of one month’s rent from renters and it’s taken a global pandemic to blast a hole in the foundation of that model. Seemingly overnight, negotiating power has now been given to the renter, paving the way for innovation in the apar
Which documents should you save once your mortgage is paid in full?
Q: I have a small condo I just paid off. After watching your Expert Real Estate Tips YouTube Channel, I contacted my mortgage company requesting documentation. The only documents they provided were a letter stating the loan is paid in full and a certificate of satisfaction of the mortgage.
Are these two documents all I need to prove that I paid off my mortgage or do I want them to give me anything else? Do I need to keep a copy of the title insurance for my records? Is it still valuable? And, is it safe to shred the loan application and any documents relating to the loan?
A: Here’s some good news: Your lender gave you just about everything you need. The lender told you that your loan is paid in full and gave you the documentation stating that the lien or trust deed on your property has been released.
Source: Which documents should you save once your mortgage is paid in full?
A Look at Who Didn’t Pay Their Rent This Month
In its debut rent tracker report, the National Multifamily Housing Council reported that 69% of households had paid their rent, either partially or in full, by April 5, compared to 81% that had paid by March 5, 2020. The rent tracker is based on data from 13.4 million rental apartments. The association has partnered with several firms to create this metric, including RealPage, Yardi and Entrata. This increase in nonpayment comes as little surprise given the millions of people thrown out of work over the pa
Coronavirus Florida: Real estate deals in peril amid buyer fears – News – The Palm Beach Post
With the onset of the pandemic, real estate agents say deals that were in the works are encountering all types of problems, creating havoc in the market as buyers try to back out of contracts. But can buyers cancel due to COVID-19? Real estate lawyers said there isn’t a clear answer.
Real estate agent Kevin Dickenson’s clients had a deal to sell their $3 million Boca Raton house in March.
Then the coronavirus pandemic exploded, and suddenly the home’s buyer announced he wanted out.
Did the sellers let the buyer walk?
Source: Coronavirus Florida: Real estate deals in peril amid buyer fears
Can a Reverse Mortgage Impact Your Social Security or Medicare Benefits?
Ask U.S. retirees what worries them most — as a recent survey by the American Institute of CPAs just did — and “running out of money” is the answer that will most likely top their lists. But homeowners over 62 who have substantial equity in their properties have an extra tool at their disposal that can minimize that anxiety. A reverse mortgage will allow them to extract that equity by delivering funds that could keep them calm and out of financial trouble. But could the payments from a reverse mortgage
Source: Can a Reverse Mortgage Impact Your Social Security or Medicare Benefits?