The Summer Slow-Down Myth Exposed

By

It is considered common wisdom that the summer presents both sellers and buyers with the annual seasonal slowdown, both in the number of listings coming to market and in the number of contracts signed.  This is said to be the case due to the mass exodus of residents leaving the city for their Hamptons homes, [...] Read More

Is A Sentiment Shift On NYC’s Horizon: The Death of Delayed Purchase Gratification

By

With the Spring sales season soon upon us, many are wondering whether we will yet again see the robust activity we saw this time last year.  Without being overly optimistic, the answer to this question may well be “yes”.  You may have heard, or even experienced, that inventory continues to be quite tight, which generally [...] Read More

A Hypothesis About Next Year’s Sales Cycle: The second wave of first-time home buyers

By

With winter fast approaching and the holiday season knocking on our door, it may seem premature to look beyond the first quarter of next year as we speak about NY real estate.    Yet I couldn’t help putting pen to paper as I let my thoughts wander to next year and what it might bring. The [...] Read More

Tales From The Trenches … 5 Broker Breeds We Could ALL Do Without!

By

Tales From The Trenches … 5 Broker Breeds We Could ALL Do Without! With sales volume seasonably slowing down over the past few weeks and deals becoming fewer and farther between, temperatures are not the only thing on the rise … broker temperament seems to be following suit, bringing out some not so flattering behavior [...] Read More

Do Not Go Gentle Into That Good Night : Why You Should Not Sit On your Listings During The Summer

By

Today’s real estate market is moving faster than ever, it seems, with a new narrative at our fingertips every couple of months, versus every other quarter in previous years.   I am seeing many sellers out there whose properties are languishing on the market.  These sellers fall into two categories, those who listed at right time [...] Read More

What’s behind buyers’ increased sense of urgency? A snapshot of buy-side psychology today!

By

“Times they are-a-changin”, and nowhere can this be seen more than the shifting psychology of NYC buyers.  The last 6 months are pointing to increased buyer anxiety that stems from several places: -          Inventory frustration:  clearly supply and demand have shifted, and buyers have been discouraged by the limited fresh listings coming on the market.  [...] Read More

Why Getting Your Building Approved May Be Tougher Than Getting You Approved For A Mortgage

By

! Many buyers today will tell you that getting a mortgage is tougher than ever, great credit score and all.  Whether with respect to a co-op, condo or new developments, it seems there is a new hoop through which to jump each and every day.  I thought I would outline therefore the reasons behind this [...] Read More

Co-Op Boards are getting stricter, based on unemployment uncertainties and rising carrying costs

By

It’s an interesting time out there for co-op boards, to be sure.  While some are loosening their standards to attract more suitors, others are tightening them … the topic of this post.    What does tightening actually look like? Some are discounting buyer liquid assets based on market volatility and uncertainty.  This translates into shaving an [...] Read More