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MOST RECENT ARTICLES 

Timing the Market in Westchester

Timing the Market in Westchester

The math says homeowners in suburbs like Westchester County have all the leverage and they might earn a small fortune if they sold their home now. But some people haven’t had time to figure out where they’d go if they sold.   Fortune favors the bold. What’s bold?...

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Concessions and Club Sandwiches

Concessions and Club Sandwiches

There are a lot of layers in every mortgage transaction. It’s at least a club sandwich. The seller’s concession is one of them. Maybe it’s the bacon. Since sandwich humor can only take me so far, let’s get back to basics. The seller’s concession is a very effective...

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AT THE CORE

Manhattan Real Estate is on Fire. The Good Kind of On Fire.

Manhattan Real Estate is on Fire. The Good Kind of On Fire.

February heated the hell out of the New York City real estate market. Anecdotally, several of our clients were operating with a heightened sense of urgency because they found themselves bidding against several other parties. It seems like less than a month ago when...

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Pent-up Demand Not So Pent-Up Anymore

Pent-up Demand Not So Pent-Up Anymore

All the pent-up Demand showed up, and it might have just kicked down the door. That’s the sensation we’re getting anyway. There’s a new energy in Manhattan and it’s palpable, at least inside the actively listed condo and coop units that weren’t used to having visitors...

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Technically Speaking, We’re Making Some Upgrades

Technically Speaking, We’re Making Some Upgrades

We’ve always thought technology was sexy as hell. Even the packaging is hot. And we love that new phone smell! Sure, technology has its flaws… For instance, human beings, in general, would probably be in better harmony with one another if social media was erased from...

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Headline: I Met A Girl Who Sang The Blues

Headline: I Met A Girl Who Sang The Blues

2020 energy feels a lot like listening to the song “American Pie.” But February made me shiver With every paper I’d deliver Bad news on the doorstep I couldn’t take one more step.  Years after writing ‘American Pie,’ Don McLean called the song an indescribable...

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ASK THE EXPERTS

Ambush Q&A: Negotiating with Marie Espinal

Ambush Q&A: Negotiating with Marie Espinal

Apple Peeled Question: Do New York City real estate negotiations ever get contentious? Are they always professional? Espinal: They 100% can get contentious. What is most unrealized both on the sell side and the buy-side, what’s just as important as your negotiation...

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Mortgage Lenders Tighten Their Belts Another Notch

Mortgage Lenders Tighten Their Belts Another Notch

Since the start of the pandemic, mortgage lenders in New York City have tightened their guidelines making it more difficult to qualify for mortgage financing on a property located in any of the 5 boroughs. The Apple Peeled reported on this extensively in the closing...

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You Might Want to Know This

You Might Want to Know This

Things We Heard When We Put Our Ears to the Ground: Mortgage Guidelines are tightening up Chase this week planned to reduce the maximum Loan to Value (LTV) down to 70% on all its jumbo mortgage products for properties in New York City. That means, if you plan to...

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Here’s $10 Million. How Would You Spend it?

Here’s $10 Million. How Would You Spend it?

You are given $10 Million along with a very specific set of instructions. You must invest every penny in Manhattan real estate. You could spend all of it on 1 property or you can divide the money amongst as many different properties as you want. You may purchase any...

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MORTGAGE MINUTE

WITH MATT JABLONSKI

Somebody Went and Changed the URLA

Somebody Went and Changed the URLA

“It’s a train wreck,” one seasoned loan officer told me of the mortgage industry’s new Uniform Residential Loan Application (URLA). “It’s a nightmare,” said another. Personally, I’m not sure what to think quite yet. Perhaps it’s a nightmare about a train wreck, but...

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Why Does 625,500 Ring a Bell?

Why Does 625,500 Ring a Bell?

Six Twenty-Five, Five Hundred. Oh man! That’s a number I used to have to remember. I saw that number on a screen the other day, and it felt like I found an old memory I lost somewhere in the back corner of my brain like a tchotchke in a bin in the attack. 625,500....

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Study: Mortgage Bankers Kill 133 Trees

Study: Mortgage Bankers Kill 133 Trees

In just my first year in the mortgage business, just a little after the turn of the century, me and the people I worked with killed over 133 trees. Usually, people are all “Loosey-Goosey” when they throw around numbers like that, fudging stats to prove whatever point...

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MOLINGO (Mortgage Lingo): The Documentation Dilemma

MOLINGO (Mortgage Lingo): The Documentation Dilemma

There isn’t anything fun about applying for a mortgage – except for the part where you close and it’s over. The process is inefficient. The whole thing takes too damn long. And the amount of documentation they ask for could keep a small house warm in the middle of...

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Dear 8th Grade Self: We Do Math (All the Time)

Dear 8th Grade Self: We Do Math (All the Time)

I will never choose a job where I’m going to have to do math.  In 8th grade, that was a pretty non-negotiable part of my future. And look at me now, crunching mortgage numbers behind a desk for The Espinal Adler Team. That old/young me with a mullet would...

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Espinal Adler Unveils Secret Weapon

Espinal Adler Unveils Secret Weapon

I high-fived Tony Robbins during the day and that night I was standing 6 or 7 feet away from a bloated, middle-aged Axl Rose who still knew how to put on an amazing show while performing with a quasi-version of Guns n’ Roses in Las Vegas. It was June 2014. I was at...

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