Issue 26, November 2010: Outside Forces and the New York Market
The Manhattan market continued to stabilize in the third quarter with prices up slightly due to increased sales of larger apartments, though overall sales were down from the second quarter. In effect, a reset has allowed for a steadier market in the past couple of months. Buyers are looking for value and believe they can […]
Issue 27, December 2010: It’s About Fear
I become a bit introspective at this time of year. Rather than looking at the real estate market as a collection of purchases and sales, I like to look beyond the numbers at factors that influence the market, especially the human ones, something we often overlook in the day-to-day buy and sell frenzy. We hear […]
Issue 28, January 2011: My Wish List for 2011
Many of us make resolutions or predictions at this time of year. I have a wish list that expresses my hopes for changes that will benefit buyers and sellers as well as the entire city. The list contains some of the issues we have been writing about during the past year including the overly stringent […]
Issue 29, February 2011: How Attached Are We?
Can a $100 light fixture be the deal breaker in a $4-plus million-apartment sale? It’s possible, as the conveying of fixtures has taken on a larger role in apartment transactions. Much plays into this. Perhaps it is that civility is changing, or perhaps it is the current market where buyers are seeking to maximize the […]
Issue 30, March 2011: Little Things Mean a Lot
Little conveniences are becoming big; amenities that were an afterthought and designed to improve a resident’s quality of life have become “necessities.” Sometimes the desire for the new “necessities” takes precedence over the quality of the entire apartment and becomes part of the driving force in finding one’s “ideal” home. Some buyers are fixated on […]
Issue 31, May 2011: Living In Interesting Times
We have been hit by bewildering economic events in recent months that have an impact on the world order as we know it as well as the New York real estate market. Japan has endured a trifecta of earthquakes, devastating tsunamis and now nuclear meltdown. They have suffered more in a short period than any […]
Issue 32, September 2011: What’s Next in Value
In the current economic turmoil, history can provide a guide. Let’s look at the days and weeks after 9/11, when New York was a scared and an angry city and a deep hole had been burned into our core. We were uncertain of the future knowing only that life would never be the same. The […]
Issue 33, November 2011: Green: Real or Myth
Is “Green” real? Specifically, the LEED (Leadership in Energy and Environmental Design) program organized by the U.S. Green Building Council in the mid 90s to evaluate the environmental impact of buildings based on energy use and materials. Touted as the gold standard for environmentally friendly buildings, a careful examination of LEED shows that while the […]
Issue 34, January 2012: Where Is the Money Coming From?
The year 2012 has arrived and we are all waiting to see how this will evolve. What we do know is what played out last year. Overall, 2011 closed with a slow down in sales after an unusual surge in the third quarter driven by very compelling low mortgage rates coupled with a weak dollar […]
Issue 35, February 2012: Banks Thwart Market
Some banks continue to be excessively difficult: Yes, caution is welcomed, but stupidity is damaging and counterproductive. The irony is that mortgage rates today are at historic lows. In fact, they can’t go much lower. Easing up of mortgage restrictions would significantly help the real estate market hold and become a much more positive force […]