Manhattan Condo Living: June 2009

Eileen Hsu (許小姐) and Morgan Evans, the new generation of Real Estate Professionals. We specialize in Manhattan Condos, including: Resales, New Construction, Pre-Construction and Foreign Nationals buying Manhattan New York Condos. Contact us at (917)837-8869 or (646)644-6929 Today.

Short Sales in Manhattan New York, New York Part 4

Short Sales in Manhattan New York, New York Part 4, for the previous Short Sales in Manhattan New York series, you can find it here. We are experienced Short Sales agents in Manhattan New York, before you thinking of buying a short sale property, please read our series.

Short Sales in Manhattan New York has been a common inquiries for our buyers and investors. Short Sales occurs when lenders agree to a short sale in real estate, it means they are willing to release their lien against the home for less than the outstanding mortgage balance (including default interest and penalties, etc.). Not all lenders will accept short sales or discounted payoffs, especially if it would make more financial sense to foreclose."

The Short Sales in Manhattan New York that we are seeing are mostly in newer construction building that were built in the last 3 years where the owners have bought the condos in the peak of the market, the average price per square foot from $1,200 - $1,500 or more in the high amenities full service luxury condominium buildings (one bedroom average price starts at $850,000), now they are responsible for a large monthly mortgage payment, and they are seeking for other options such as a possible short sale if they qualified a lender hardship test.

As specialists of Short Sales in Manhattan New York, when we receive phone calls from buyers on the interest in buying a short sale, we always ask why they are interested in buying a short sale. Most of the buyers think they can get a 'better deal' than other sales. Short Sales Buyers, please note that the lenders have to approve of these short sales prices, the lender will only approve of the sale if/when the price is at FAIR MARKET price. With that being said, the price must reflect the most current sold and close in the condo building or comparable buildings in the same neighborhood, if last similar condo unit has sold for $800,000, the lenders will probably not approve the short sales unit for $500,000.

Short Sales in Manhattan New York as of May 2009 represents less than 1% of the market inventory, buyers who are interested in a short sales should keep an open mind that you may be able to find 'a better deal' by finding that motivated seller that is willing to take a loss on their property. We are active agents on the market and we do have a "Hot List" of well priced condos with highly motivated sellers that are willing to negotiate with realistic buyers. The difference between a short sales and buying a from a motivated seller is that the sales is not contingent upon lender approval. Once both parties (buyers and the sellers) agreed upon a price, we sign contract right away and can be close in the next 30 days as oppose to 90 days or more for short sales.

We are a team that has experiences in short sales in Manhattan New York, most of the Real Estate agents have no working experiences in short sale. Our team, as seasoned Real Estate agents, we understand what short sale is, we have a team of specialists (Attorneys and Negotiators) that will ensure a successful short sale transaction. We are Real Estate agents under one of the most successful Manhattan Brokerage firm Prudential Douglas Elliman with extensive market knowledge. In addition, we have the confidence and success rate in completing a short sale transaction. 

SELLERS: If you are an owner that is unsure if you are qualified for a short sale or already behind your mortgage payment, call us today at (917)837-8869 or email us at Ehsu(@) for a confidential conversation.

BUYERS: Contact us if you are interested in buying a 'Short Sale' properties in Manhattan New York, or simply want to discuss if any of our "Hot List" has any condo listings that fits what you are looking for. call us today at (917)837-8869 or email us at Ehsu(@)



Eileen Hsu 許雅嵐 (email: EHSU(@)

Our team specialize in Manhattan New York Condominiums, townhouses, and condops.

We are condominium residents ourselves so we understand the Manhattan New York condominium community. We also enjoy all Manhattan neighborhoods, especially Upper West Side, Lincoln Square, Midtown East, Murray Hill, Financial District, Chelsea, Fifth Avenue, Greenwich Village, Nolita and etc just to name a few. If you or you know someone that may be interested in selling, buying or leasing their Manhattan New York condo, call us today (917)837-8869 or (646)644-6929 and we can discuss your specific Real Estate goals.

Manhattan New York Condo Specialists or Chinese Speaking Real Estate Agent


Comment balloon 0 commentsEileen Hsu • June 07 2009 10:09AM
Short Sales in Manhattan New York, New York Part 4
Short Sales in Manhattan New York, New York Part 4, for the previous Short Sales in Manhattan New York series, you can find it here. We are experienced Short Sales agents in Manhattan New York, before you thinking of buying a short sale property,… more
Manhattan Condo, a definition from a New York Mortgage Professional
We have many buyers who are not native 'New Yorkers', sometimes the condo definition can be different by buyers from their own culture or different parts of United States. It is important to establish a definition that is clear for others to… more
Chinese Buyers Loves Gold Fish: "Gold and Abundance"
Chinese GoldFish: Animal means abundance of gold, making the Goldfish a popular symbol in the Chinese culture. One of the most popular New Year's images is a child holding a large goldfish and a lotus flower which brings both wealth and… more
NYC: Myths About Homeownership
Manhattan NYC: Myths About Homeownership How lenders assess mortgage applications has changed a lot in the last 20 years. What closed the door to homeownership then may not be a factor today. The following are some commonManhattan NYC… more
Manhattan New York Real Estate Market is getting busy!
I have not been around much because I have been absolutely swamped in negotiating deals working the buyers, sellers and speaking with past clients about what their mindsets are about today's market. We are seeing massive sales activities… more
Gramercy Starck Condominium - Sales and Rentals Specialist
Gramercy Starck Condominium located at 340 East 23rd Street New York NY 10010 designed by world renowned designer Philippe Starck Philippe Patrick Starck is a French Product designer and probably the best known designer in the New Design style… more
No Fee Upper West Side Rental - Our Upper West Side Rental Specialist
No Fee Upper West Side Rental No fee means the renter does not have to pay a Broker's fee With that being said, why not utilize a broker that can help you in finding the suitable apartment when a knowledgable broker has all access and the ins… more
No Fee Rentals in Upper West side in New York City
No fee rentals in Upper West side in New York City - Partner up with me to day To find your desirable NO FEE RENTALS in Upper West Side in New York city, being an Upper West side resident myself, I know the ins and outs of each Upper West Side… more