Find answers to your real estate questions
East Coast Realty offers a comprehensive range of real estate services including residential sales, property management, investment consulting, and buyer representation. We specialize in properties throughout New York City, with particular expertise in Manhattan, Brooklyn, and Queens neighborhoods.
The first step in the home buying process is to determine your budget and get pre-approved for a mortgage. Once you understand your price range, we recommend making a list of must-have features in your dream home. From there, our agents will help you find properties that match your criteria, arrange viewings, and guide you through making an offer and closing the deal.
To maximize your home's selling potential, we recommend decluttering, making minor repairs, deep cleaning, and enhancing curb appeal. Professional staging and photography can also make a significant difference in attracting buyers. Our team offers personalized advice for every property to highlight its best features and address any concerns before listing.
In New York City, the typical closing timeline ranges from 60 to 90 days after an offer is accepted, though this can vary based on several factors including property type, financing requirements, and any issues discovered during inspection. Cash transactions may close more quickly, while co-op purchases often take longer due to board approval processes.
New York City real estate is distinctive due to its variety of property types (co-ops, condos, townhouses), complex board approval processes for many buildings, and highly competitive market. The city's diverse neighborhoods each offer unique advantages, and property values can vary dramatically even within short distances. Our deep knowledge of local market dynamics helps our clients navigate these complexities successfully.
Find detailed answers to all your real estate questions
You can use our "What's Your Home Worth?" calculator on our website to get an initial estimate. For a more accurate valuation, we recommend a comparative market analysis (CMA) conducted by one of our experienced agents who will evaluate your property based on recent sales of similar homes in your area, current market conditions, and the unique features of your property. For the most official valuation, you can also get a professional appraisal.
The home buying process typically involves several key steps:
Our team guides you through each step to ensure a smooth and successful purchase.
Yes, we provide comprehensive assistance with mortgage options. We partner with trusted local and national lenders who offer competitive rates and a variety of loan programs. Our team can help you understand different mortgage types (conventional, FHA, VA, jumbo, etc.), compare interest rates and terms, and find the financing solution that best fits your financial situation. We also offer mortgage calculators on our website to help you estimate monthly payments and understand how different down payments and interest rates affect your purchasing power.
East Coast Realty serves the entire New York City area, with particular focus on Queens, Brooklyn, and Manhattan. Our agents have extensive knowledge of the diverse neighborhoods throughout these boroughs, including their amenities, school districts, transportation options, and market trends. We also work with clients in surrounding areas including Long Island, Westchester County, and parts of New Jersey. Whether you're looking for a city apartment, a suburban home, or an investment property, our team can assist you anywhere in the greater metropolitan area.
Scheduling a viewing is simple! You can contact us through multiple channels:
We'll work with your schedule to find a convenient time for your viewing. For many properties, we can arrange same-day or next-day showings. We also offer virtual tours for clients who aren't able to visit in person.
The value of your home in today's market depends on several factors including location, property size, condition, upgrades, comparable recent sales, and current market conditions. While online valuation tools can provide a rough estimate, they often don't account for the unique characteristics of your property. For an accurate assessment, we offer complimentary home value analyses conducted by our experienced agents who understand the nuances of New York City real estate. Contact us for a personalized evaluation that takes into account all the factors that impact your home's value.
When evaluating an investment property, consider these key factors:
Our investment specialists can help you analyze properties based on these criteria and develop a portfolio tailored to your financial goals.
Your debt-to-income (DTI) ratio is the percentage of your monthly gross income that goes toward paying debts. Lenders use this ratio to evaluate your ability to manage monthly payments and repay the money you borrow. To calculate your DTI, add up all your monthly debt payments and divide by your gross monthly income.
Most lenders prefer a DTI ratio of 36% or less, with no more than 28% of that debt going toward your mortgage payment. A lower DTI ratio suggests that you have a good balance between debt and income and can comfortably take on a mortgage. You can use our DTI Calculator to determine your current ratio and see how different mortgage payments would affect it.
Closing costs are the fees and expenses paid when completing a real estate transaction, typically ranging from 2-5% of the loan amount for buyers and 8-10% of the sale price for sellers in New York City. These costs can include:
For buyers:
For sellers:
Payment responsibility can sometimes be negotiated between buyers and sellers. Our team provides detailed estimates of closing costs early in the process so you'll know what to expect.
Pre-qualification is a quick, informal evaluation based on information you provide about your income, assets, and debts. It gives you a general idea of how much you might be able to borrow but carries little weight with sellers since the information isn't verified.
Pre-approval is a more formal process where a lender verifies your financial information (credit report, pay stubs, bank statements, tax returns) and commits to lending you a specific amount. A pre-approval letter significantly strengthens your offer when buying a home because it shows sellers you're serious and financially capable.
In New York City's competitive market, we strongly recommend getting pre-approved before starting your home search. It not only gives you a clear budget but also positions you to act quickly when you find the right property.
Our team of real estate experts is ready to provide personalized answers to all your questions. Contact us today for a consultation.