Cait Etherington

5 days ago | cityrealty.com | Cait Etherington

Since 2020, families have been leaving New York City at an alarmingly high rate. In July 2024, Bloomberg reported that the city's under-5 population has fallen by 18 percent since the start of the pandemic. For many families, the decision to leave New York City is based on one factor—the ongoing shortage of affordable family housing both on the rental and buying sides of the market.

3 weeks ago | cityrealty.com | Cait Etherington

From time to time, a listing for a New York City condo or co-op includes the following phrase: sponsor unit. But what sets these apart from other units, and why are they to buyers' benefits? The short answer to the first part is that this is a unit that has never been sold. The longer answer requires a little more detail, and the benefits depend on the building type.

1 month ago | cityrealty.com | Cait Etherington

In most markets, only a small percentage of contracts (on average, 1.5 to 4 percent) are canceled, but under exceptional circumstances, canceled contracts can spike. In March 2020, at the start of the pandemic, for example, 18 percent of contracts in the United States were canceled, and in early 2022, shortly after the hike in mortgage rates, 15 percent of contracts were canceled. However, under most conditions, contracts are canceled for just a few predictable reasons.

1 month ago | cityrealty.com | Cait Etherington

Once you’ve found and been approved for an apartment in New York City, it is tempting to immediately sign on the dotted line and start looking for a mover - after all, with Manhattan rents at all-time highs and those in outer boroughs starting to creep up, it's understandable that one would want to lock in a deal as soon as possible. However, signing too quickly can lead to regrets down the line.

2 months ago | cityrealty.com | Cait Etherington

Most people dream of buying their own home at some point in their life, and in most regions of theUnited States, this is a dream that can be achieved with a bit of hard work and deliberate saving. InNew York City, buying one’s first home is often much more challenging. This not only reflects thefact that one generally needs a higher down payment to enter the market but also that New Yorkproperties often don’t qualify for programs designed to assist first-time buyers.