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first time homebuyer: 4th Quarter Manhattan Market Reports Released- What does it mean to You? - 01/10/09 12:18 AM
New York City 4th Quarter Market Report
I was very interested in the 4th Quarter Market Reports coming out from the major real estate companies here in New York City. Unless you were on a deserted island somewhere or had your head buried in the sand, the last quarter of 2008 showed a lot of distress for New York City real estate.
What does all of this analysis mean to you? Are you looking to buy, sell, invest, or rent? Are you looking to buy a co-op, condominium, loft, or townhouse? Do you want to live Downtown, on the West … (6 comments)
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first time homebuyer: Is Food the Way to a Broker's Heart? - 01/05/09 09:59 PM
If I walk into a new development building with a buyer in today's market, we will be treated like royalty. It's pretty much standard practice to be offered refreshments and the occasional bite to eat.
To set their development apart from the rest, the developers at 211 E 51st St are offering a hosted complimentary, personalized luncheon for small groups of buyers' brokers. The developer is inviting groups of brokers over for a catered lunch in the model apartment at the building. One of the reasons why the developer has chosen this method of promotion rather than just the typical open … (10 comments)
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first time homebuyer: Chaos at the Closing Table - 12/16/08 08:47 PM
The closing table at a New York City closing is organized chaos to the casual observer. New York is an attorney state, no escrow companies who handle the closings in most of the rest of the country. Depending on the type of property being purchased will determine the specific players who will be at the closing, but let's take for example the co-op closing that I was at last week.
Both the buyer (husband and wife) our customers and the seller (husband and wife), both buyer and seller have the attorney's who have been representing them at the closing, the … (2 comments)
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first time homebuyer: New York City First time home buyer and Investor MUST READ! - 11/21/08 08:42 PM
This is Part 1 in a 5 part series focusing on what a first time buyer or investor should know before they purchase an apartment in New York City and the most common mistakes to avoid.
We will cover- Know What You Are Buying, Know Your Buying Power, Financial Report of the Building, Who is Managing the Building, Buying with your Head and your Heart, and more!
Understanding the Products: (Co-Ops, Condos, Condops, Townhouse)
Buying an apartment in New York City will be an exciting and also daunting experience. Because New York City offers a unique buying experience with many of … (13 comments)
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first time homebuyer: The Me Too Clause - 11/20/08 08:41 AM
For the last 5 years buying a new development condominium in New York City was a sure fire way of seeing a great return on your initial investment. If you bought in at the early stages of the initial offering, you waited and as the building went up, so did the prices of the available units. So by the time you actually closed on your apartment your exact same unit would probably sell for 10-20% than what you bought it for. This was one of the big reasons why there are so many new development condominiums in Manhattan.
Now that the … (6 comments)
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first time homebuyer: What Makes New York City Amazing, $801,000 for a Storage Room! - 11/17/08 04:36 PM
A basement storage room sold for $801,000.00 in the renowned Dakota apartment building. The Dakota, located on Central Park West in the Upper West Side, is most well known as the home of John Lennon and still is the current residence of Yoko Ono. The apartments sell for upwards of 10-20 million dollars.Now this was no ordinary damp tiny storage room. The room was about 800 square feet had 20-foot-high ceilings and two windows. There is a bathroom and electricity wired already into the unit. Despite The Dakota being one of New York City's most expensive and desired buildings there is … (6 comments)
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first time homebuyer: Relocating to Manhattan - 11/15/08 11:37 PM
Having the unique experience of starting my real estate career on the West Coast in Seattle, WA and now being an agent in Manhattan has given me the ability to help first time home buyer's relocating to Manhattan.
I grew up on the West Coast in Seattle, WA and started selling real estate once I graduated from the University of Washington. Relocating to Manhattan from Seattle was definitely a culture shock, so I understand what its like to move the big move here. I understand the buying process in a more traditional real estate environment and then coming to an almost … (2 comments)
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first time homebuyer: Its Official...New York City Real Estate Downturn Begins - 11/09/08 10:18 PM
According to the New York Times, a crack in New York City Real Estate's mighty armor has finally showed its ugly face. On the front page of the New York Times real estate section states, " Even though the average price for a Manhattan apartment, at $1.5 million, is higher than it was a year ago, some New York neighborhoods have already started to feel the downward tug that has wrenched the housing market elsewhere in the nation."
Though this is the first major article stating that a downturn has begun, we have been seeing this for awhile now. Since the … (2 comments)
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first time homebuyer: Life without LockBoxes - 11/08/08 09:07 PM
Can you imagine your life without a lock box on every one of your listings?
Well here in New York City this is my reality. Manhattan apartments that are on the market for sale do not have a lockbox on the door. When I have told this to agents who work in different states they look at me and are shocked.
So rather than plopping that lock box on the listing and walking away checking up with whoever shows the property this is what happens in Manhattan. It's very simple, but it can be very time consuming. We personally show every … (30 comments)
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first time homebuyer: The Tide is Turning for New York City Rentals - 11/08/08 03:37 PM
"Why is it so hard to rent an apartment in New York City?" I had a young woman relocating from San Francisco ask me this question just a few weeks ago after we found her an apartment in the Upper West Side. The other statement I usually here is, "I'm so sick of looking for an apartment!" Despite the difficult nature of finding an apartment in Manhattan things might be getting a little bit easier.
As the Manhattan real estate market turns into a buyer's market, many buyers are becoming renters to wait out and see what happens to the market. … (4 comments)
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first time homebuyer: First Time Homebuyer Seminars - 11/02/08 08:44 PM
Hi,
Anybody done a first time buyer or investor seminars? I am putting together my first seminar and naturally want it to be as successful as possible. What type of venue was most successful? I am trying to schedule space at a local library, but am running into problems because I am a for-profit entity.
Because of the changing real estate market that we are working in, what kind of information did you present to help your buyers over the hurdle of so much negative press everywhere they turn?
I am going to bring with me a mortgage broker and an … (7 comments)
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Morgan Evans-New York City Real Estate Expert
Manhattan,
NY
More about me…
Prudential Douglas Elliman
Address: 26 W 17th St Floor 7, New York, NY, 10011
Office Phone: (212) 321-7147
Cell Phone: (917) 837-8869
Email Me
New York City Manhattan Real Estate agent specialize in Manhattan Condominium market such as Resale Condominiums, New Construction condos and condops. We work with first time home buyers, foreign buyers, investors. We Specialize in neighborhoods: Upper West Side, Chelsea, Midtown West, Midtown East, Nolita, Lower East side, Greenwich Village, Soho, Union Square, Financial District in Manhattan.
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