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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You may have heard that right now is a buyer’s market in Manhattan. The battle is not between buyers and sellers, though. It’s between buyers, and their own perception of value. If you think that a property is priced too high, you may be surprised at the amount of activity, and the amount of buyers
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We just closed a sale for a buyer with whom we have been working for six years. Six years! My son was a baby when we started working together. Now he’s finishing first grade. That’s one way to measure it. How else should we think about it? 2017 – The NYC market was peaking (report
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I grew up in New Orleans. I went to college in Philadelphia. I moved to Boston for 6 years, during which I logged about 100,000 miles a year touring across the US. What felt like normal was being on the go for weeks at a time. Eventually Boston got stale, and I almost moved to
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