Anti-money Laundering GTO extended for 180 days The Financial Crimes Enforcement Network (FinCEN) of the US Treasury has extended the Geographic Targeting Order (GTO), set to expire tomorrow Feb 24. The new GTO is identical to the current order and will not expand the cities or the dollar thresholds. Borough of Manhattan, N.Y.; $3 million […]
August 12th Hallmark Abstract Service examined the unintended consequences that resulted from the government edict intended to address one issue while impacting another one! The article titled ‘New York City Real Estate, Government Edicts And The Inevitable Unintended Consequences!‘ looked at the result from the requirement for title insurance company’s to disclose the actual buyer […]
Most if not all of us have heard the phrase that ‘the road to hell is paved with good intentions’! Given that, is it also a sad truth that many government policies once implemented, have unintended consequences the majority of which seem to be more painful than helpful for the masses? For the sake of this argument and […]
Summary: NYC Ultra-Luxury Residential Real Estate Market Targeted At The Superrich Getting Soft? Has the market reached a tipping point or is this merely the pause that refreshes? Is the sky staying right where it’s supposed to be but the prices for apartments located there certainly seem, shall we say, soft? In-other-words, in terms of the ultra-expensive listings […]
For anyone who is in the market to buy a home or soon will be, finding the right property is typically only half of the battle! The other half, unless one is paying cash, is applying for a mortgage and then fighting the battle to ultimately be approved. In the pre-financial crisis world qualifying for a […]
Why you may be asking yourself is this title insurance guy incessantly writing about non-real estate related issues? The answer is of course that the economy, and the real estate sector specifically, are all impacted by what is happening to the global economy. And this includes the oil industry, bank loans to the oil industry, high yield debt from oil industry related corporations and […]
Since the ‘Great Recession’ reportedly came to an end years ago, according to a wide variety of metrics the real estate market has healed and even thrived! Of course bargain basement mortgage rates (thank you Fed) have been a significant catalyst along with foreign money (particularly in New York City) that has been seeking a safe […]
