Weekly Roundup: Apartment bargains, price gains, sinking supply, mixed prognostications

Residential sales market attains highest peak in total dollars citywide since 2008 financial crisis, sales trail 2010

When it comes to the middle class, Manhattan naturally has one of its own

Winning design for micro-apartments allows for 55 250-to-370-sf modular units in Kips Bay

An UWS townhouse is listed for. . . $50 million

Closed sales in the Bronx slide to five-year low in 2012 as median inches up to $288,990

Major architecture firms expect 10-20 percent staff growth

First-floor apartment one of eight ways to get more space for less money

Zillow calculates 8.3 percent rise in home values

It is possible to avoid double taxation when refinancing in the city

If you can’t be too rich or thin, apparently you can have too much house

Average home price in the Hamptons sets record with surge of luxury sales

Sold price of Gramercy condop trimmed 67 percent from price that fashion designer had paid

Singer’s original $18 million asking price for Tribeca penthouse off key

It’s selling days Continue reading

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Weekly Roundup: Lawsuits, rising sales, falling foreclosures, ghostly cities, rosier forecasts

Everywhere in the city, brown sandstone is a fading commodity

Having tried a $500,000 two-week Hamptons rental to snag a man, Cheryl Mercuris buys $13.72 million UWS condo

Good investment property must first of all be in — duh — right location

Record 33 contracts signed for luxury properties last week

To track down pre-construction bargains, start with city’s Web site, then negotiate hard

Priciest zip isn’t on the Upper East Side after all

Median price of lower-end homes swoons in the Hamptons

Agents have reasons stemming from mid 90s lawsuit for withholding square footage

Mauritian national seeks more than $1 million on claim that co-op board broke anti-discrimination law

Rise recorded in foreclosure, delinquency rates in metro region

Stigmatized Kennedy property in Connecticut finds buyer in week

Acting couple rid themselves of Mediterranean-style mansion in Los Angeles for $6.7 million

Moving four blocks away, funny man and wife add a room

Ex-wife of billionaire financier/philanthropist Continue reading

Weekly Roundup: Shortage of condos, rates down again, strong signs of U.S. recovery, ugliest house

Lottery opens for 682 affordable housing rentals in Clinton

Number of condos projected to enter market in next few years likely to fall short of demand

With supply of condos dropping steeply, prices rise strongly

Basic steps can smooth apartment sale even before listing or searching

Biggest moving decision for parents centers on schools

Fierce competition in Manhattan pushes investors to outlying areas such as Nassau County

High rents causing drain of the middle class, comptroller reports

But billionaires buying many rooms they can afford with unforgettable views

New site grades each city block based on reviews of everything from crime to school, amenities (register free)

Rents for Boerum Hill studios swell 10 percent since July, topping gains elsewhere in Brooklyn

Accepting cash offer, an Ives grandson stymies plan to turn late composer’s home into museum

Actress is stoked to sell her Village duplex for $7 million

Music mogul lists 66th-floor condo for $8.5 million

After moving to California and renting out her downtown condo, Ryan’s daughter asks $1.645 for the unit (3rd item)

Curbed rounds up the buy and sell of Law and Order cast

Real divorce has couple putting Beverly Hills estate on the market for $26 million

Resales climb, prices go up and inventory Continue reading

When selling, don’t check reality at the door

SUMMER DAYS DRIFTING AWAY

One of my favorite posts.

Sellers tend to learn the hard way.

That’s the message of a piece in today’s New York Times, which chronicles the bad decisions that some sellers made when they listed their homes.

Among a few anecdotes, the newspaper quotes a couple who ignored their broker’s advice to ask no more than the prices of houses near their 4,000-sf place in suburban Houston:

You’re emotionally attached, so you think your home is worth more. I had a landscape service and a Sub-Zero refrigerator and an icemaker on every floor, but buyers don’t care, they want deals.

Listed originally for $825,000, the house being sold by Michel and Rick Shanks underwent four price reductions and eventually sold for $605,000 after 10 months on the market.

Well, doh. Continue reading

Weekly Roundup: Renters reject commissions, pending sales up over year, rates set record, list IDs ugliest mansions, recovery talk ignites debate

Although able to buy multimillion-dollar residences, some very rich folks choose to rent at sky-high prices instead

Fire Department takes dim view of dangling air conditioners and undertakes strong action

Landlord’s empire of apartment buildings collects thousands of code violations

City comptroller expects large residential properties to maintain value

40 percent of renters say they won’t pay broker’s fee purely on principle

Some Brooklyn renters moving back to Manhattan, where they find cheaper digs

With luxury home sales hitting record, surging Hamptons activity nearly matches 2007

City Council overwhelmingly approves NYU expansion plan

Sales, prices of new condos in Brooklyn boom in Q2 vs. prior year

Westchester communities experience parent drain after commencements

Broadway couple trades hit musical for the Hit Factory

She kisses good-bye to Tribeca condo at a small loss

Filmmaker decides it’s time to sell California estate at an asking price of $9.5 million

Index of contracts signed in June Continue reading

Question: When is an estimate just a wild guess?

Answer:

If you rely on Zillow’s Zestimates®, a property’s market value is wrong way too often.

A friend clued me into the truth recently, telling me that Zillow itself — commendably, I have to say — reveals its calculations of Zestimates’ accuracy on the company’s Web site.

Although I have hardly been a lone critic of Zestimates, I was stunned by what I learned on the site. Continue reading

Weekly Roundup: Wall Street’s impact spreads, musicians move on, bottom glimpsed, prices weak, builders beat forecasts, lowballing fails

Manhattan agents confident about city, but Wall Street’s labor pains may hit suburbs harder

The Edge tops list of new developments with most condo sales in first quarter

New listings search site is nice to users

Refusing to hear case, Supreme Court ensures continuation of rent stabilization

The bind that renters endure is tie that’s tight or liberating

Bedbug complaints Continue reading