This oped was published on November 13, 2023 in at Off The Market. Link here. We have been told that the three most important things in real estate are location, location, and location. But there are two other axioms which arguably supersede, one of which Burnett v National Association of Realtors (NAR), a federal class-action
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Do you know what’s more important than inventory? More important than interest rates? More important than buyer behavior, seller behavior, or the latest article in the New York Times? It’s finding the right home for you. Finding a home that you love. Finding a home that is the foundation for everything you want to do.
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Conventional wisdom would have you think the following: What did we see when we sold this one bedroom property at 70 East 10th Street? How do you explain the difference in our seller’s experience? First, let me back up. In May 2023, we brought a gorgeous one bedroom to market in Greenwich Village.  Although it had
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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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