NYC NEW DEVELOPMENTS ARE BOOMING!

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New residential construction is booming in New York City. Pounding jack-hammers and vibrating power saws provide the backdrop din; monster construction cranes and huge cement trucks crowd the streets; giant lego-like barriers divert pedestrian traffic; billboards on elaborate scaffolding and tall screens broadcast the players of a thriving construction industry. New development building is not […]

A Primer for Buyers in a Hot Seller’s Market

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NYC property values have been rising steadily for more than two years. According to reports from the major brokerages, the number of closed transactions in Q1 2014 was at a seven year high, setting new records with average apartment prices exceeding $1.7M. Limited supply and high demand have become chronic market conditions which continue to […]

A Pro Makes a Difference

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Every deal has a story, and each is remembered, or not, for different reasons. One recent transaction is of note because there were multiple obstacles to overcome—from readying an estate wreck for sale; to working with a self managed co-op that put up roadblocks whenever anything of a financial nature was asked; to one board […]

Everyone In The Pool!

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Contract prices are up in nearly every market sector and every location by a good 10-15% over last year, and an already accelerated pace of trading has been quickening steadily since the start of 2013. Although values are up, inventory is not increasing. When new properties come to market, buyers and their agents have been […]

THE YEAR OF THE SMART SELLER

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March 10, 2013.  I’ve been penning a monthly Manhattan Market Watch column for a trade publication for nearly ten years and have a sizeable library of articles about New York’s residential real estate market and its trending issues and cycles. In July 2009 at what turned out to be the nadir of the market, I […]

AS JANUARY GOES, SO GOES THE YEAR

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Does the direction of January predict the course for the year? Wall Street where the adage originated thinks so. The first month of 2013 scored impressive gains with the S&P up 5.05% and the Dow gaining 5.77%—signaling the best January since 1987 and rising above 14000 for the first time in over five years. In […]

NEW YORK – STRONG AND STRONGER

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There’s plenty of data available to support a U.S. housing recovery even in areas that were hardest hit by the downturn like Miami and Phoenix. New residential construction is on the rise nearly everywhere, and home builders like Toll Brothers, DR Horton and Lennar have been posting significant gains monthly since October 2011. While the […]

WHAT WE TALK ABOUT WHEN WE TALK ABOUT NEGOTIATION

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  The Art of Ethical Negotiation, part of a series of master classes in the NYRS program, takes place in the wood paneled boardroom at the Real Estate Board of New York. It’s an intimate venue that allows 30+ participants to engage in a lively discourse about bargaining and winning. It’s less about revealing real […]

BULLISH ON MANHATTAN

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There’s a palpable boom at the top of the new development market as a growing supply of high end products sizzles with through-the-roof pricing.   At the same time, price conscious home buyers are choosing from a shrinking inventory of resale properties.  Both phenomena are reasons for optimism.  At the market’s upper end which is buoyed […]

A PLAN FOR ALL SEASONS

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  Is there an optimum time to list a property?  Yes and no.  Spring is the season of perennial promise when inventory, demand and activity peak.  But buying and selling occur year round, and while the seasonal calendar affects the volume and velocity of sales, there are two more important considerations than the time of […]