October, 2007

FORECLOSURE INVESTING — RISKY BUT PROFITABLE According to Realty Trac, an online real estate and foreclosure listing service, foreclosures of homes have increased by 19% from December 2006 to January 2007 and foreclosure filings have increased 27% during the first three months of the year. Owners of homes are not the only ones who have found themselves in the midst

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July, 2007

David A. Kaminsky & Associates, P.C. is pleased to announce that in addition to sending our newsletter by mail, we will now be using email as well. Please contact the office to update your email address and to add others to our list. BAD HOUSING MARKET CAUSES REAL ESTATE AGENTS TO CHASE ALTERNATIVE CAREERS Real-estate agents have been leaving the

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February, 2007

David A. Kaminsky & Associates, P.C. is pleased to announce that we will now be using email to send out our newsletter. Please contact the office to update your email address and to add others to our list. CAN A GARAGE SPACE BE RENT-STABILIZED? Every Sunday, the New York Times Real Estate section answers real estate questions sent in by

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October, 2006

THE REAL ESTATE MARKETS Almost every day we get questions about the state of the real estate market in the New York City and surrounding areas. The following is what we have learned based upon reviewing correspondence, talking to real estate brokers, mortgage brokers, other attorneys, sellers and buyers who are active in the market at this time: The market

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August, 2005

NEW RENT GUIDELINES The New York City Guidelines Board enacted final rent guideline increases of 2.75% for a one-year lease and 5.5% for a two-year lease, where the owner provides heat, for rent stabilized renewal leases effective October 1, 2005, through September 30, 2006. Where the tenant provides heat, increases of 2.25% and 4.5% on one- and two-year leases were

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March, 2005

CARBON MONOXIDE DETECTORS A recent major development in residential apartments have been the imposition of carbon monoxide detector rules by the department of housing preservation and development. The new rule which took effect November 1, 2004 requires owners of buildings to install carbon monoxide detectors in each apartment within 15 feet of each bedroom and to give occupants written information

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June, 2004

BANKRUPTCY AND LANDLORD – TENANT LAW Many tenants have sought protection from eviction by filing for bankruptcy. This has been the case for both residential and commercial tenants. It has long been the case that they could stop eviction and avoid payment of rent arrears by filing for bankruptcy. However new legal developments have made it much more difficult for

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November, 2003

MANSION TAX Persons looking to purchase property in New York City should be aware that there is a 1% “mansion” tax for all properties being purchased at a price of one million dollars or more. This is in addition to the already applicable 1.425% transfer tax. Ordinarily, the seller is responsible for the transfer tax and the purchaser is responsible

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