Brooklyn’s fast-climbing home prices make it nearly as expensive as Manhattan
Transaction volume strongest in years, even with diminished supply
Graphic demonstrates depth of Manhattan inventory
Bicycles becoming new amenity in some buildings
Permits for new residential buildings skyrocket in first quarter
In this seller’s market, every minute counts
So does the right strategy in a bidding war
(Via Inman News)
A joint study by Google and the National Association of Realtors (NAR) has found that consumers’ online experiences increasingly influence their homebuying activities activity offline.
Called “The Digital house Hunt: Consumer and market Trends in Real Estate,” the report produced the following observations, among others:
The National Association of Realtors (NAR), a membership organization of brokers and agents that has little presence here, wants you to know how to select the right person to sell your home or represent you as a buyer.
On its Web site, the NAR headlines its advice with the hardly surprising admonition to “Hire a Real Estate Agent with the Power to Succeed.” Undermining its credibility, the organization then predictably continues:
It’s the best time to buy a home in years, but the worst time to move without a professional on the payroll.
Ron Phipps
Not everyone should own a home?
Lenders need to have strict standards?
House prices can go down as well as up?
These are not the usual positions of an organization that describes its “core mission” as Continue reading
In a dense but revealing blog post of the National Association of Realtors (NAR), Jerome Nagy writes about the difficulty of establishing the value of a property in today’s market.
It is, he says, a common misconception that the price on which a seller and buyer agree is the value of an apartment, townhouse or single-family dwelling. He declares:
It has always been a challenge for appraisers to identify value and support their opinions of market trends where neighborhood prices are in a state of flux. Today, this challenge is more widespread than perhaps any other time in history as neighborhoods and markets that were previously declining are now stable if not recovering.
Difficulties arise when a market “bounces,” Nagy writes in his NAR blog post, going on to say that it can be impossible to Continue reading
Here’s your chance to catch up with news included to inform, enlighten and perhaps even entertain you. To read about The Big Apple, check out the other of today’s posts and look for Out and About early next week.
ONETIME CLUB IMPRESARIO WHO’S NOW INTO HOTELS UNLOADS 3,900-SF CONDO FOR $11 MILLION
TIGER’S TIGER BURNING. . . HOPEFULLY
RENTAL FIT FOR A PRINCESS GETS ONE (2nd item)
SHE’S GOTTA LOVE HIS TOWNHOUSE AT $27,000 A MONTH
HE TOPS LIMIT MORE THAN A YEAR EARLIER FOR THE SALE PRICE OF A MANHATTAN CO-OP
VIOLINIST SAYS HE EITHER PLAYS ONE THING OR SLEEPS IN ANOTHER, NOW IN A NEW PLACE
BECAUSE HIS ESTATE HASN’T SOLD, DANCER/ACTOR ACKNOWLEDGES THE LIKELY NEED TO TAKE STEPS (2nd item)
This holiday-weekend combined post is your chance to catch up with news included to inform, enlighten and perhaps even entertain you. You’ll find Out and About early next week and additional posts every day except President’s Day as usual.
COMMON DISPUTE ABOUT SQUARE FOOTAGE MAKES RARE COURT APPEARANCE
Four years ago, Rishi Bhandari and his fiancée put down a deposit on a condo in Downtown Brooklyn. The price was $795,000, for a two-bedroom two-bathroom apartment, reports the New York Times.
But just before they were to close, Continue reading
NEWSPAPER SAYS SALE OF FORMER VILLAGE NURSING HOME SIGNALS MARKET RECOVERY
In 2007, before the financial world turned upside down, a condominium developer signed a contract to pay more than $33 million for a former assisted living facility in the heart of the West Village.
More than three years later, the developer, FLAnk, has closed on the purchase of the building at Hudson and West 12th streets. FLAnk paid just a few million dollars short the full pre-crash price: $33.3 million.
The deal is the latest sign that the city’s residential development engine is beginning to crank up again, opines the Wall Street Journal.
SITE OFFERS EXPANDED PROPERTY SEARCHES FOR BUYERS
Pulling data from the Real Estate Board of New York’s RealPlus database–which collects listings information from brokerages– Continue reading
Here’s your chance to catch up with news included to inform, enlighten and perhaps even entertain you. To read about The Big Apple, check out another of today’s three posts.
ACTOR LISTS LISTS CUTS CUTS THE PRICE OF HIS NEW MEXICO RANCH
HE LOSES 1 MILLION PIECES OF PAPER THAT BEAR HIS NAME
IN NEW FIFTH-AVENUE DIGS, LET’S HOPE THIS BUYER HOLDS THE CHEES-Y
ATHLETE BUYS A 4,000-SF LOFT IN CHELSEA–AND THAT’S NO BULL
DEVELOPER WITH A Z CLOSES ON WASSERSTEIN’S 5TH AVE. CONDO AT $3 MILLION OVER ASK AFTER SELLING 15 CPW SPREAD TO TECH WIZ
U.S. PRICES FALL FROM SEPTEMBER TO OCTOBER, THIRD CONSECUTIVE MONTHLY DROP
CASE-SHILLER’S REPORT CONTAINS THE USUAL WEAKNESSES, AMONG THEM Continue reading
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