Posts Tagged ‘Apartments’
Weekly Roundup: Skinny condominiums, celeb comings and goings, nation’s price and sales increases, continuing rate rise, investmentsMay 24, 2013
To writer/editor Norman Schreiber, co-op boards engage in “bloodlust psychodrama.” He is the author of what Schreiber describes as a “fun novel,” Out Of Order, about murders in a co-op. It is available on Amazon.
by Norman Schreiber
Awesome and awful is a bill under consideration by the New York City Council.
The Council, that bastion of reform, hopes to transform the co-op sales process, though the effort faces a hard road.
As recently reported here, the pending bill (Intro 188) obviously views co-op boards of directors as evil and discriminatory. The measure would mandate transparency and accountability via 45-day time limits, explanations for turndowns, retention of documents for five years and board member certification that no discrimination occurred in rejecting a shareholder application.
Intro 188 puts the burden of proof on all co-ops to show that they don’t discriminate, instead of proving a pattern of discrimination in those that actually do so. I’m not sure if the bill could work; more likely, it would change the way in which discrimination is covered up.
Weekly Roundup: Landlord confession, piece of Portugal, April building permits, pocket listings, air purifiers, timely Lotto win, recovery threatsMay 17, 2013
They closed on the brownstone on Aug. 20, 2008 for $7.85 million.
It happens that Lehman brothers collapsed less than a month later, causing our housing markets to swoon.
While the markets in Manhattan and Brooklyn in particular have made great progress since then, we still have a way to go before reaching the peaks of days gone by.
Unfortunately, the sellers — I’m sure, a very nice family — have overestimated the demand for properties that can accommodate a big family easily. (more…)
Weekly Roundup: Rent squeeze, U.S. price gains, rates reversal, stocks vs. housing, declining buyer regret, best inflation hedge, tomorrow’s marketMay 10, 2013
When interviewing brokers to list their apartments for sale, prospective clients ask a lot of questions.
In many instances, the question that property sellers often want answered is how much of a fee the broker will demand. (Many a listing presentation and meeting could be spared if sellers with commission as their sole criterion simply asked for the percentage before a meeting is scheduled.)
Among the other bits of information that sellers may seek relate to a broker’s track record — for example, how many sales the agent achieved in what amount of time and in which neighborhood or apartment building.
But the most critical query centers on (more…)
To paraphrase Lloyd Bentsen, when I make a mistake, it’s a doozy. So it was with this post. Please see correction below, now reflected in headline.
A broker friend of mine confided in me her anger at another broker.
It seems that the broker listing an apartment wasn’t happy with the board package. My perfectionist friend, a highly successful broker of close to 30 years, had assembled the thing for her buyer and sent it to the other woman for review.
Without a comprehensively and competently presented package, as most consumers here know, the likelihood of a board’s accepting a prospective shareholder into the building is greatly reduced.
My friend, call her Emily, had painstakingly put together the thick packet, having (more…)
Weekly Roundup: All-cash offers, reality dust-up, high annual sales growth, no-doc loans, Newtown resiliency, worst investments, housing ‘haze’May 3, 2013
Given the cost of residential real estate in Manhattan, nothing could be more understandable than buyers’ willingness to match the imperfect co-op or condo that they decide to purchase with the amount of money they can afford.
Consequently, many folks in search of a new home readily accept the necessity of turning a two-bedroom apartment into a three-bedroom unit, an alcove studio into a one-bedroom home.
But they invariably pay a price both in aesthetics and, paradoxically, flexibility. Gone the dining area, the well-placed window in the living room, the airy ambiance.
So it is with (more…)