Tag: NYC fall trends

Tips for New York Home Appraisal

If you are looking to buy a new home or just refinance your current mortgage, your lender will want to schedule an appraisal. This objective assessment helps to determine what your home is worth. Something that ranks high to all lenders is the consideration of collateral on their loan. Whether you are buying or selling, it will help you get a feel for how appraisals work. Here’s how you can prepare for your NYC home appraisal

What’s Involved? 

So what should you expect if you have someone come to your home to appraise it? An appraiser’s job is very similar to a home inspector’s position, with some tiny differences. Items that range from big to small will be taken into account by your appraiser, so that geometric mural that you did during the lockdown may need to go. 

Things That Go Into a Home Appraisal

While your potential buyer may love your place and decide that they are ok with your asking price, all lenders will require you to have your home appraised to determine its value. To help them arrive at an estimate, they will look at the following:

  • Your home’s exterior: The appraiser will look at just about every part of the construction of your home. From the roof to the foundation, walls, and flooring, these will all be the potential cause for the house’s value to decrease if the appraiser finds something wrong.
  • Size: A big part of determining the home’s value is the slot’s size and square foot of the lot. The more rooms and bathrooms that a house has can help to raise the value of the home. Knowing the floor area or FAR of the property will tell you if space has room for extensions, which can be another factor in the value. 
  • Condition: Just like your exterior, the appraiser will go over the inside of your home with a fine-tooth comb. The flooring, kitchen, plumbing, electrical, and lighting are all components that your appraiser will be assessing.
  • Improvements: Your appraiser can also help you determine what might need to be updated to increase your home’s value. Renovating a bathroom or adding an HVAC system can add years of life to the property, which helps increase the value. 

Who Receives the Appraisal Information?

The final verdict will be gathered by your appraiser and at the disposal of who ordered it; this is usually the lender. It is then up to them how the information is distributed, regardless of who paid for it. If the buyer asks for an appraisal, the lender is obligated by law to release that information. Your appraisal is valid for six months, but market prices can change quickly. Many lenders will only consider an appraisal to be valid for about three months. Any changes to the market or the property can drastically alter the value price. 



Forget Fashion Week, the luxury apartments hitting the market in NYC this Fall are the real showstoppers. Characterized by their sleek design, amenities, exclusivity, quality, and views, nothing has been left out or done mediocrely. The premium level of real estate has just topped itself.

1. Sleek Design

Architecturally appealing and innovative, apartments and living luxuriously somehow has gotten more stylish in New York City. The floorplans are streamlined and set up for effortless fluidity, providing you the space to utilize your space however you please.  Think: modern with elegance.

2. Amenities

The amenities are an endless sea, and if you think life couldn’t get any more convenient in the city, you were wrong. A skylit swimming pool, private spa suites featuring waterfall showers, saunas, thermal baths, steam rooms, gyms, landscaped gardens, and even an IMAX theater room are only a few of the amenities you can enjoy in these chic buildings. Private garages for your vehicles and bikes are also available.

3. Exclusivity

As you can imagine, exclusivity is a major component to the newest places to be revealed in the city. SHoP Architects tower will be joining “Billionaires Row” with views of Central Park. There will only be 60 units available, while British architect, Lord Norman Foster’s building in the same area will have a total of 94 units. Some contain as little as 14 units, making the apartments rare commodities.

4. Quality

And with design and exclusivity, comes quality. From the finishes on floors to the state-of-the-art kitchens, everything is up to the highest standard. Light fixtures are sleek and modern, supporting open-style floor plans.

5. The View

What is the overlying theme for some of the finest buildings hitting NYC? The view. It’s no secret that in Manhattan, the only way is up, and these buildings are doing it in style with floor-to-ceiling windows, and some are even doing it in 360 degrees. The abundance of windows creates openness and allows air to breath in the space. Architecture Prize winner, Zaha Hadid’s newest project along the high line demonstrates this trend with a glass curtain of windows.

There is a total of 5,300 units available this Fall. This is more than twice what there was last year.  It appears as though the market for luxury apartments and condominiums is ever growing. Leaving us to think, what will be next?


Info courtesy of nydailynews