Weekly Roundup: May luxury sales boom in Manhattan, U.S. pending sales drop, interest rates reach new lows, talk of recovery swells

Upper West Side townhouse breaks price barrier

Avoid red flags when applying to rent an apartment

You may think this fish story is hard to stomach

Lawyer advises buyers to order a “physical” for new developments

Condo loses bid to stop resident from smoking cigarettes

Luxury properties enjoy blockbuster sales in May, and foreign ‘fright capital’ is driving prices beyond reach of typical wealthy buyer

View of park from Central Park West can be double cost of apartments elsewhere on UWS

Abacus Bank, which primarily serves Chinese community, indicted on charges of mortgage fraud

On Fifth Avenue, one white-glove building means it

Oscar-winning divorcée sells her townhouse in Harlem for $2.8 million

Former senator Continue reading

Weekly Roundup: City’s sales sag, U.S. resales up

It’s oh so hard to snag a reasonably priced rental

Pending sales, inventory sag over last three months

Owners subletting illegally may want to note shoes of prospective tenant

Lawsuits mount against accused rabbi

If you’re searching for a bargain, look no more

When negotiating with a developer, be smart about asking for concessions

Now tenants can rent off floorplans in unfinished buildings

If you’re bedbugged, check a 11 ways to judge an exterminator

Obsessive Dorothy Parker enthusiast fights to save her childhood home from demolition

Interactive database lets renters and buyers track nearly all privately held subsidized housing

Developers do their thing on a stretch of Fifth Avenue dubbed ‘Upper Carnegie Hill’

His matches are long past, but Continue reading

After Solaria auction, how does Miami sound?

Dream on. (Photo by HellFire Designs.)

Buying into Miami’s foreclosure glut will soon be a whole lot easier, according to the New York Times.

It seems that Miami-Dade County will use online auctions for the thousands of delinquent properties that have made South Florida a center of the recession.

The Web site, will become fully operational on Dec. 7, making Miami-Dade the largest of 12 Florida counties in the process of replacing courthouse auctions with online sales.

County officials here expect the number of properties sold, now about 450 a week, to triple, slowing the growth of an inventory of 110,000 foreclosures.

The online system would end, or at least make digital, what many officials describe as a process steeped in speculation, trickery and, occasionally, physical conflict.

Lloyd McClendon, the chief executive of RealAuction.com, which has contracts to run the county auctions across Florida, said nearly 11,000 bidders had registered, including at least one person from New Zealand.  Said he:

“It opens it up to a wider audience, and really the sale prices are more in line with what they should be.  Before, these bidders would do deals among themselves. This is fairer to all who are involved.”

How does that rubric go?  You pays yer money and ya takes yer chances.  Something like that.

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Malcolm Carter
Licensed Associate Real Estate Broker
Senior Vice President
Charles Rutenberg Realty
127 E. 56th Street
New York, NY 10022

M: 347-886-0248
F: 347-438-3201

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