Recap: StreetEasy’s 2017 First-time Home Buyers’ Seminar (VIDEOS)

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BY MARCH 28, 2017

Buying a home in NYC? In case you missed our seminar last weekend for first-time buyers, don’t sweat it. We have videos from each segment of the seminar below, which was held at New School’s John L. Tishman Auditorium and was attended by more than 500.

Video #1: Understanding the Buyer’s Market in NYC

StreetEasy Senior Economist Grant Long kicked off the program with a segment titled, “Understanding the Buyer’s Market in NYC.” He provided an overview of the New York City real estate market, including tipping points, best sellers’ markets, best buyers’ markets, median price points and much more. Watch here or click the video below:

 

 

Video #2: Neighborhood and Apartment Insights from Local Agents

Grant’s segment was then followed by a real estate agent’s panel made up of Matthew Bizzarro of The Bizzarro Agency, Erika Sackin of Brooklyn Hearth Realty and Boris Sharapan Fabrikant of Douglas EllimanWatch here or click the video below:

 

 

Video #3: Financing 101: Preparing to Buy in NYC

Tony Jao, a regional manager at Investors Home Mortgage, delivered a 30-minute segment on preapproval, do’s and don’ts when leading up to closing and why closing costs for condos are more expensive than co-opsWatch here or click the video below:

 

 

Video #4: Advice from a Panel of Recent First-time Buyers

The program closed with the always-popular panel of recent first-time home buyers who shared their first-person experiences of buying a home in NYC. Watch here or click the video below:

 

 

Main Takeaways From the Event:

  • Get your team together early (buyer’s agent, mortgage broker and lawyer)
  • Be prepared (Get preapproved, line up your agent, mortgage broker and real estate lawyer and be ready to go)
  • Do your research (Explore some neighborhoods, understand the difference between a condo and co-op, look at comps for properties you like to get a sense of price patterns)
  • Expand your parameters (That means both going above and below your budget – you never know what you can achieve with a bit of negotiation. Consider different neighborhoods and layouts. For example, could that one-bedroom be converted to a two-bedroom?)
  • Be patient (If your offer is rejected, there’s usually a good reason. Don’t let it get you down.)
  • Don’t assume the list price is non-negotiable
  • Know what’s best for you. (Think about your lifestyle, how long you want to occupy this place and how you’ll use it.)

Here are a few of the slides Grant offered during his presentation:

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