The Hunt: Chinatown with Wei Min Tan, Open House NYC

Weimin Tan brings client to view 2 bedroom condos in Tribeca and Financial District.  Weimin is a specialist with international / foreign investors looking to invest in Manhattan apartments and buildings.  He speaks Cantonese Chinese, Malay and Mandarin Chinese.

New York City 2010 Facts

This recession, NYC lost 4.8% of jobs, less than US avg of 7.3%

Wall Street Profits

NYSE member firms achieved record profits in 2009 after posting $50B in losses during the past 2 years.

Why buy Manhattan Property with a Broker

1.  Commission:
The commission is a pre-negotiated amount paid by the seller.  If a buyer has a broker, it's split 50/50 between the seller's and buyer's brokers.  Else, the seller's broker keeps it all.  There is no "discount" by going directly.

Manhattan vs US property market

Manhattan outperforms US housing market - WSJ article
Home Market:  Lots of Looking (link to Wall Street Journal article)


1.  New York City outperforms rest of the US housing market this summer.  Prices rising, employment grows.

Mortgage tax on refinance, New York

Refinancing is the hot topic these days with interest rates at a record low of 4.5%.  The cost benefit analysis is the lower monthly payments vs transactions costs.  With transaction costs, mortgage tax is a huge component.

Cheap ways to upgrade kitchen

Great article from CNN Money, cheap ways to upgrade the look of your kitchen.