Issue 13, February 2008: How to Make Money in Real Estate
For many years, owners of residential properties had one thing in mind – having as nice a home as possible. Granted, over time the value of the property went up – whether a co-op, condo or house – but the true value was as a home. The times are changing and I am frequently asked, […]
Issue 14, March 2008: What Creates Value?
In the current vortex of Manhattan real estate, a key buzzword is value. With so much of the country facing housing problems and questions arising about the length of New York’s hot market, buyers want more than fluff. This renewed emphasis on value is sailing a new course today as buyers, in addition to embracing […]
Issue 15, June 2008: It’s The Time To Buy
There’s a well-worn adage for stock investing: time to buy on bad news and sell on good news. Going contrary to the conventional wisdom has made a fortune for many people. This old adage holds true today for Manhattan real estate. The news nationwide is pretty gloomy with prices tumbling in many markets, lending institutions […]
Issue 16, September 2008: The Selling of New York
At times, New York City feels like a fire sale. The usual influx of summer foreign tourists has turned into a swarm seemingly taking over every inch of midtown and pushing us aggressive New Yorkers out of the way to get quality merchandise at dollar-damaged bargain prices. Much of the new residential development has been […]
Issue 18, April 2009: Have We Hit Bottom, Don’t Know But Read On…
We’ve been overwhelmed by bad news, at times avoiding radio and TV news, newspapers and websites. It’s hard to feel buoyant in this environment, but for those interested in real estate and buying or selling a property, it’s worthwhile to step back for second and take an overview of what is happening. You’ve probably heard […]
Issue 19, September 2009: Fantasy Financing Affecting New York Market
It’s FHA loan restrictions A limit on FHA loans in a condo No right of first refusal Time frame after plan is effective A minimum number of units has to be sold Stacked against NYC co-ops and condos Yosarian regulations Today, 65 percent of the transactions in Manhattan are under $1 million as buyers who […]
Issue 20, November 2009: Deciphering This Selective Market
Remember the elevator marketing challenge: describe your company in 30 seconds or less. For residential real estate agents, the challenge is describing the market in one word. Is it spotty, selective, opportunistic, declining, improving or stable? Well, it is really all of those, depending on a person’s viewpoint, the type of apartment, the seller’s situation, […]
Issue 22, March 2010: A View at the Top
As the first quarter begins to play out in 2010, real estate in New York City is beginning to show a shift. As we slowly come out of what some consider the most challenging market in almost 15 years, we are now seeing that the high end luxury market is beginning to come to life […]
Issue 23, April 2010: The Financing System Is Dysfunctional and I’m Mad
There’s a systemic issue that is pervasive in financing for co-ops and condos. This has long-term potential to upset the way buyers finance and purchase. Something must be done to change this, yet no one is speaking out and it is extremely frustrating. At the last moment, deals are getting throttled by lenders with outrageous […]
Issue 25, October 2010: New York Holds On While Housing Plummets Nationwide
For some time, brokers (myself included) have been saying New York real estate is different and stronger than the markets in the rest of the country. This may have seemed self-serving to some, but it was true. In the past month, published reports and analyses have highlighted the truth of this and the deepening chasm […]