Dottie Herman, CEO, Douglas Elliman Real Estate (New York)
Dorothy Herman, Dottie, is the quintessential New York success story. In only two decades, she climbed to the pinnacle of the housing industry – CEO of Douglas Elliman, the #4 ranked real estate company in the United States.
Today, under her leadership, Douglas Elliman is the largest regional network with over 4,000 real estate professionals and 675 employees working in more than 70 offices in Manhattan, Brooklyn, Queens, Long Island, the Hamptons/North Fork, Westchester, and now South Florida.
In addition to leading New York’s largest residential real estate brokerage and rentals, she also controls a portfolio of real estate services, including commercial and retail leasing and sales, relocation and settling in services, new development consulting and also Manhattan’s largest residential property manager, Douglas Elliman Property Management, as well as PDE Title, and DE Capital Mortgage.
I am learning about the NYC market and trying to decide if I need to hire a broker. If we do this, how much can we expect to pay in broker fees?
If we get locked in for a mortgage rate, how long can we lock in for? he typical lock in period for a mortgage is 60 days. If you need beyond 60 days, you can ask your lender about extended lock-in terms.
Are pre-approvals and pre-qualifications still as important for the purchase process as they were a few years ago? Pre-approval and pre-qualifications are generally just as important as they were a few years ago.
Does installing solar panels add any value to my home for resale purposes? Depending on your home's heating and air conditioning systems, solar panels may add value to your home.
I recently invested in a new business and needed to use some of my home equity line for the initial down payment. I anticipate being able to put the money back relatively quickly.
Should we re-apply with the new money in our account or do we have to wait a certain amount of time? The bonus has to be consistent for 2 consecutive years.
All things being equal, re-finance and purchase rates are the same. But in a re-finance boom with interest rates at an all-time low, two things tend to happen.
If a co-op and condo apartment have identical interior and exterior amenities and the only difference was their property type, the condo would sell for more.
My home was on the market for a few weeks. My husband and I decided that we want to stay in our home. Is there a way we can take it off the market?
How difficult will it be for me to find an apartment if I had to declare bankruptcy last year? The process can potentially be problematic for a renter who has filed a bankruptcy petition.
There is a home in my area that my husband and I love. We have looked at a number of homes, and also have lived in the area for years. This house is totally overpriced, and we want to make what we think is a fair offer..
In order to become a Licensed Real Estate Sales Agent, you must attend an accredited school that offers the courses required by the state in which you live. There are also courses that qualify on-line.
if we want to head to the suburbs. We both are from the west coast. How do we decide where we should look within Manhattan?
Does the home I am buying have to appraise for the loan amount or purchase price?
What is an ARM loan? And how do they work? ARM loans are an acronym for Adjustable Rate Mortgage, Many are known as a 3/1, 5/1, 7/1, 10/1. These are loans that start out at a reduced interest rate.