In this week’s post we wanted to cover some common homebuying myths here in Queens NY. Some of them may seem relatable while others may not. Either way, the truth is that whenever you’re thinking of buying a property, some of these things may cross your mind and they are all definitely worth considering. That […]
Property owners have the right to challenge the Department of Finance’s assessments and correct erroneous information associated with their properties. The following forms should be used: Based on the situation that you explained to us (legal 3 family being taxed as a 4 family), our suggestion would be for you to file a Request for Review […]
Registering a property with the NYC Department of Housing Preservation and Development (HPD) and the Division of Housing and Community Renewal (DHCR) is essential for certain NYC property owners, especially those with multi-unit buildings. Here’s a step-by-step guide to help you navigate the registration process. Step 1: Determine If Registration Is Required HPD Registration DHCR […]
As we approach the end of 2024, it’s the perfect time for NYC homeowners to evaluate their tax strategies for 2025. Homeownership offers a wealth of tax benefits, and being informed can help you maximize savings while staying compliant with tax laws. Below is a comprehensive list of key homeowner tax benefits, deductions, and considerations […]
Capital improvements on a residential home that are tax-deductible or can increase the cost basis of your home (which can help reduce capital gains taxes when you sell) are generally significant upgrades that add value, prolong the home’s useful life, or adapt it to new uses. While the improvements themselves are not typically tax-deductible in […]
Here’s a comprehensive guide tailored for Queens and NYC homeowners to maximize their tax benefits, deductions, and credits in 2025. This includes federal, state, and local opportunities, with a focus on savings available through smart home improvements, property usage, and energy-efficiency upgrades. 1. Maximize Deductions on Home-Related Expenses While direct deductions for home improvements are […]
Last Updated on October 22, 2024 Queens Real Estate Market 2024, a quarterly report produced by the Queens Home Team at Keller Williams Realty Landmark II. Need Help? Contact Us Data Source: https://www.queenshometeam.com/wp-content/uploads/2024/10/Queens-Real-Estate-Market-Report_Q3-2024.pdf https://www.queenshometeam.com/wp-content/uploads/2024/10/Queens-County-Market-Indicators_SEP-2024.pdf Market Snapshot Fall is here and fortunately the weather has remained pretty mild, so far. As for the local real estate […]
Investing in real estate can offer several potential benefits, including: 1. Rental Income: Owning rental properties can provide a steady stream of rental income, which can serve as a consistent source of cash flow. If the property isn’t paid off, as long as you buy it right, then you should have at least some cash flow […]
Queens Real Estate Market Report: Q2 2024, a quarterly report produced by the Queens Home Team at Keller Williams Realty Landmark II. Need Help? Contact Us Data Source: https://www.queenshometeam.com/wp-content/uploads/2024/08/Queens-Real-Estate-Market-Report_AUG-2024.pdf https://www.queenshometeam.com/wp-content/uploads/2024/08/Queens-County-Monthly-Indicators_JUN-2024.pdf Market Snapshot Our apologies for the delayed publishing of our Q2 Queens real estate market report. Although we are updating this in August, the data […]
Being a landlord in New York City comes with its unique set of challenges and rewards. With its diverse population and competitive rental market, NYC demands landlords who are not only business-savvy but also empathetic and proactive. From our experience as local Queens realtors, we’ve observed that the landlords who face the least issues are […]
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