I recently assembled a panel that included Tressa “Melora” Love from Wells Fargo (Mortgage Expert), Gregory Heym of Terra Holdings (Chief Economist of Brown Harris Stevens), and Noah Rosenblatt of Urban Digs (Founder of this incredible real estate data website). The question I posed for the Webinar was: “What Happens When Mortgage Rates Begin To
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Would you rather buy now, when the stock market is up, you’re feeling good about your portfolio and assets, and mortgage rates are high? Or would you rather buy later, when rates are down, but your portfolio could be also- and everyone is screaming about the sky falling down? I have no crystal ball. And
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We’re pleased to share this month’s INV: The Manhattan Inventory Report with you. The headline: Property supply, as we measure it, has fallen month over month. But there’s an important caveat- our metric of “months of inventory” also includes the pace of sales in its calculation. So, despite there being lower supply, the overall “months of inventory”
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Let’s set the Table. The Fed has raised its lending rate in an effort to stop runaway inflation. The cost of renting or owning- aka Housing- real estate is nearly 1/3 of the Consumer Price Index. When the Fed raises its rates, mortgage rates tend to rise, too, even if they are not 100% correlated.
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The saying goes that the top 3 most important things in real estate are Location, Location, and Location. I was just writing about it here. Nowhere is this truer than in New York City. And it’s the most true in Manhattan. Our story this month is yet more proof. We just closed on the sale
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What’s the most important thing in real estate? We all know this one! It’s location, right? Yep. But do you know that the second most important thing is? It’s information. What if I told you that your market data was three, or even four months old? Would you still be able to claim that you’re
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We’re still processing the quarterly report that came out just a couple of weeks ago. I think that the question it’s most clearly answering is this: What happens when mortgage rates double in a year in New York City? The answer is surprising. Watch the video… How New York handles this environment is different than
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If you’re like most people, you have trouble seeing past what’s in front of you when it comes time to look for a home to buy. What are the things that are most distracting? Here’s a short- and obvious- list: The hardest thing, really, after helping people like you for 20 years, is finding ways
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The Rental Market Is Crazy While my team and I largely focus on the sales market in Manhattan, there is a robust rental world out there, and right here too; New York City has more tenants in it than almost any other rental market in the United States. And we’ve done more rentals this year
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A h/t to an amazing realtor in New Orleans, Bryan Francher of Latter & Blum in New Orleans for inspiring this post (I have borrowed substantially from his, link here). If you’re like most people, your house or apartment is one of the most significant assets. Even though in New York, it’s not always the
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