I thought 2023 would go down as the most challenging real estate market I had ever seen. But it was also our best year as a team. Then 2024 decided to give 2023 a run for its money. There have been a lot of reasons why people have the impression—or misimpression, as you’ll see—that this
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Data is not always reliable. And it’s not always enough. Studying it carefully—and ignoring what’s not helpful—may be the difference between winning and losing your dream home. Our deal of the month was in an Upper East Side cooperative comprised of three buildings, where we have sold about twelve apartments over the last decade. So
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We don’t like to shoot our market videos too far in advance, because the trend lines are not as clear in the real estate market as you might think. In fact, buyers and sellers should treat the market as surfers treat the ocean: You need to ride the waves. These can come in little increments.
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We were delighted to help a family make their move downtown recently. It was a lovely 1600 square foot, three-bedroom, three bath home with one of the largest terraces that you’ll ever see in an apartment. The only problem? A healthy dose of overoptimism before we can on the scene. You see, we were the
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It’s never bad to have a quarterly report. I’m grateful to our chief economist Greg Heym for creating it four times a year. It just doesn’t tell you what’s going on today. You can find the full version of the 1Q24 Manhattan Apartment Report right here: https://media.bhsusa.com/pdf/Manhattan_1Q24_MR.pdf Just don’t misunderstand what you’re seeing. You are
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We thought that the “sell in the suburbs and buy in Manhattan” was THE trade. What if the real deal is even more local? How about: Sell in Brooklyn and buy in Manhattan? Putting all this “trade talk” to the side, how about this: It’s just a good time to buy in Manhattan. And if
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I’m sure you’re up to your eyeballs in real estate right now. We do it every day and we’re pretty fed up with the newscycle, too. So what’s the one thing you need to know? The market is VERY, VERY active. It’s about buyers wanting to move forward, and snapping up what they perceive as
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“Do you do Section Eight vouchers?” the caller asked. This was a question I had never encountered in more than two decades selling real estate. Yet I knew what they represented: Government support for low-income renters. My instincts were to immediately hang up the phone. This wasn’t any area in which I’d ever worked, not
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As Shockwaves Hit The US Housing Market, Expect a Muted Immediate Impact in New York City I just wrote a long post discussing the potential fallout from the recent settlement between the National Association of Realtors in a class action lawsuit. The plaintiff’s $418mm payday is impressive, but the impact to the National housing market
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NAR’s commitments as part of its $418 million dollar settlement will create shockwaves in the real estate market for decades. There is no reason in particular you would be paying attention to the legal battles being waged over the past few months between buyers, sellers and the National Association of Realtors. However, you won’t have
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