HK® Bobby Pen & The Pen Pals® - New York's Pied-à-Terre Tax

New York’s “Pied-à-Terre” Tax

Enacted as part of New York State’s fiscal year 2027 budget, the “pied-à-terre” tax in New York is officially known as “City Surcharge on Property That Does Not Serve as a Primary Residence.” The burden is on the property owner to establish a “primary residence” exception from New York’s “pied-à-terre” tax by submitting certain evidence to the New York City Department of Finance. The deadline to submit a claim for exemption from New York’s “pied-à-terre” tax is September 18, 2026.

Absorption Rate Chicago Luxury Apartments Bobby Pen & The Pen Get Smarter Faster

Insider Tip To Buy Chicago Luxury Apartments Smarter

Absorption rate is one key data piece that gives you leverage in a real estate negotiation. The trick is to track the ‘absorption rate’ on a monthly basis, each and every month. So that you have a complete story… a trend. And not just a snapshot. If you were to do this, then you’d have a feel on if it’s a ‘buyers market’ or ‘sellers market.’ In a nutshell, this information can be crucial in justifying your position in a negotiation.

Confusing Residential Real Estate Rule Is Now Law

It officially went into effect October 3, 2015. The Dodd-Frank mandated (CFPB directed) residential real estate closing regulation (known as the “TRID Rule”). If you’re participating in a residential real estate transaction in America, then these closing rules shall apply.

It’s worth repeating. These rules (timelines!) apply to any home purchase:

The Four Hidden Ingredients In Your Mortgage Loans Drug

If you’re using bank financing to buy or own any property, then you’re using a type of drug. As you know, some drugs can be therapeutic. While other drugs can kill you. It doesn’t matter what type of property you buy. Whether you’re buying a single family home, apartment or commercial property, these principles are as relevant as the laws of gravity.

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How To Value Real Estate Investment And Property Correctly

If you’re buying any property—whether as a personal residence or investment—then you must know how to value real estate investment and property accurately. In a nutshell, there are three ways. And a little-known fourth way that shall help you detect residential real estate market bubbles. This killer infographic summarizes everything you’ll ever need to know on how to value real estate.

Safely Buy a Condo in Downtown Chicago Using These 7 Market Tips

If you’re a first-time home buyer, investor, relocating or retiring—and ready to buy a condo in downtown Chicago—then these 7 market insights will help you avoid costly pricing mistakes. Follow this info-graphic along as it lands you safely on your feet among the street-level metrics.

Ride The Next Chicago Real Estate Wealth Wave

It just started. Despite what numerous pundits previously alleged regarding a Chicago real estate recovery, it has only now started. If you’re interested in buying property—or investment in general—then you don’t want to miss this next wealth phase in Chicago real estate.

This month, our insider technical analysis trigger (shaded green areas) secretly alerted us to the start of the next Chicago real estate wealth cycle. Heeding the guiding principles in this simple chart remains especially important if you’re buying property using debt financing.

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Buy Downtown Chicago Real Estate In 10 Moves

Properly buy downtown Chicago real estate like a grandmaster chess champion. If you brace yourself with these moves, then you’ll checkmate your opponent every time.

Move 1: Notice of No Agency

What is it? — When you bump into a real estate broker at a coffee shop and start talking real estate.

Luxury Chicago Real Estate Wealth Bobby Pen & The Pen Get Smarter Faster HK®

4 Noble Reasons To Consider Chicago Real Estate in Your Wealth Plan

Chicago is considered a high momentum cyclical market. Similar to other HNWI (high net-worth individual) markets in America like San Francisco. Which means it’s real estate market trend mimics the peaks and valleys of a roller coaster ride. Beyond lifestyle and fun, Chicago offers convenient travel to anywhere in the world. And when it comes to intellectual capital in the form of the tall building, Chicago minds are at the top of the pyramid.

Pick The Right Drug When Getting A Mortgage

What your pal at the bank and your broker don’t tell you. The reason why your advisers won’t inform you on this calculation is because they’re not trained to think like a successful fund manager. And, therefore, they don’t know it themselves.

This is single-handed the most important lesson you’ll ever need to know when borrowing money from a bank to buy property.

Timing Matters When Hitting Home Runs…As Does The Stadium

Legendary investor Warren Buffet claims he shares a valuable philosophy with baseball great Ted Williams. Ted Williams once wrote that the most important thing for a hitter is to wait for the right pitch. Warren Buffet admitted he approaches investing with the exact same credo:

“…wait for the right pitch, yeah and wait for the right deal. And it will come. It’s the key to investing.” – Warren Buffet

Is Kansas City Real Estate A Royal Flush?

This information is coming off the heels of a recent presentation I made at the American Association of Private Lenders conference at the Kansas City Convention Center. Many of the attendees were from Kansas City, Missouri. And appreciated the insights revealed in the real estate market technical analysis data (Lesson 1 of 7) from my book. Candidly, Kansas City isn’t a market that I would typically run an analysis on.

However, because a few of the locals were interested to learn more about Kansas City’s current wealth phase – from a technical analysis perspective – I decided to offer them a follow-up commentary here. Considering the kind hospitality they extended.

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