morgan evans real estate: You Sell What you See
- 05/16/09 05:26 AM
I have a fair amount of confidence in my product knowledge for the type of properties I represent and the buyers that I typically work with. I would categorize my expertise as sub-million condominium properties. In Manhattan our market is broken down into three categories, condominium, co-op, and townhouses. Townhouses represent a very small subset but specialized part of the market, co-ops represent about 75% of the market and the rest are condominiums. Within my areas of expertise I know what properties sell for, I know the listings that are the most attractive, I know whats just came on the market. I … (3 comments)
morgan evans real estate: Do you have a Hot List?
- 05/16/09 01:03 AM
Recently in my office an initiative started to create an internal "HOT LIST" of properties. A property to be worthy of the hot list has to meet a couple of criteria: Priced to Sell compared to Relative Properties Something Unique, Special, Remarkable that Sets this property Apart from the Crowd A property that "YOU" would buy if you were in the market for this type of apartment The hot list would be circulated between agents and we would see some potential deals for our customers. I think this idea was great. I recently heard the quote, "You Sell what you See." … (7 comments)
morgan evans real estate: Low Ball Daddy!
- 02/20/09 12:56 AM
"My father is never going to pay this price!" "I can't believe you think somebody is going to pay this much!" "This price is ridiculous!"This was what a customer was saying to me earlier today while I showed one of our properties. While I am standing there listening to this, I'm thinking about a number of things. Why am I putting up with this? This person is a nightmare! How does the buyer's agent put up with this person? What I have found is the most effective way to handle this type of outburst is to turn their statement back … (18 comments)
morgan evans real estate: 8 appointments, 5 hours, 10 miles, and 1 Screaming Lady
- 02/13/09 02:56 PM
I had a tremendously busy week of appointments and today was the pinnacle of my busy week. Starting at noon I had a whirlwind afternoon of buyer appointments and showing appointments for a couple of our better priced listings since we do not have any lockboxes in New York City. With so many appointments in a short period of time, if one appointment is late a domino effect will happen and the rest of the appointments will all fall down. What gets a little tricky is not how fast you can get from one appointment to another. The tricky part is … (37 comments)
morgan evans real estate: Dorchester Towers Condominium, 155 W 68th St
- 02/02/09 01:49 PM
Dorchester Towers Condominium Report 2008 Real Estate Year in Review In 2008 12 properties sold at Dorchester Towers at 155 W 68th St New York, New York 10023.. The building has approximately 680 apartments which half are owned by individuals. The turnover rate was approximately 3.5% last year. For a comparison of years past, in 2007 ~ 12 properties sold and in 2006 ~ 15 properties sold. On average the typical turnover rate for any given building is approximately 7-9%. Breakdown of the Type of Units that Sold in 2008 As we all know the Dorchester Towers Condominium have … (3 comments)
morgan evans real estate: New York City First time home buyer and Investor MUST READ! Buying with your Head and your Heart part 5 of 5!
- 01/31/09 12:48 PM
New York City First Time Buyer and InvestorPART 5- BUYING WITH YOUR HEAD AND YOUR HEART!Buying your 1st or your 10th New York City apartment will probably be the biggest purchase of your life. In today's market it's more important now than ever to understand what your long term goals for purchasing. Are you sick of paying rent to a landlord and purchasing your first starter studio or 1 bedroom? Maybe you have outgrown your current apartment and need that second or third bedroom? An investor looking for a long term investment and tax benefit? Or an overseas buyer looking for … (7 comments)
morgan evans real estate: New York City First time home buyer and Investor MUST READ! Who Manages the Building part 4 of 5!
- 01/30/09 12:06 AM
Part 4- WHO MANAGES THE BUILDING?One of the most common questions we receive is who manages the building? What kind of track record do they have? What happens if my sink backs up, dry cleaning is delivered, do they return phone calls quickly? As a part of being a first time home owner in a co-op or condominium building in New York City you will be a part of your experience will be influenced by the management company that runs your building. Typically the size of your building will dictate the type of management company that runs it.Doing research about … (2 comments)
morgan evans real estate: Douglas Elliman Doing More Rentals! Can YOU Adapt to a Shifting Market?
- 01/24/09 01:31 AM
Prudential Douglas Elliman is opening a new office specifically for rentals. The company is going to be recruiting 50 to 75 new agents whose sole focus will be the rental market. A website specifically designed for rentals, will be released as this new office opens. Jonathan Miller, president of real estate appraisal firm Miller Samuel, who prepares the company's sales reports, will also be generating a new rental market report. As I have mentioned in a previous posting, the rental market has become more advantageous for the renter in the 2008 market. When the sales market slowed down this summer, many … (7 comments)
morgan evans real estate: Rental Market in New York City, a 2008 Year in Review
- 01/22/09 09:29 AM
Renting a New York City apartment in 2008 was a far different experience than in 2007. In 2007 with very little inventory, landlords really set the market. There was no negotiation, no incentives, no mercy. Our customers had to make decisions on the spot, have all of their documentation in place, and be ready to get deposit checks in the matter of a few hours because if they didn't somebody else would take the apartment. Not so much in 2008. The rental market in New York City is very seasonal, depending on the season and the neighborhood the market fluctuates, the … (4 comments)
morgan evans real estate: What Makes New York City Amazing! Hot Dog Real Estate!
- 01/11/09 07:55 AM
Hot Dog Real Estate in New York City They say location is everything when it comes to real estate. Well, in the world of selling New York City hot dogs that saying has been put to the test. A hot dog vendor has agreed to pay the city $81,701 more a year to sell his hot dogs on the north side of the Metropolitan Museum of Art entrance than on the south side 100 feet away. It doesn't stop there. The New York City Parks Department auctioned off the food-vending rights to the north-side entrance of the Metropolitan Museum of Art … (11 comments)
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)
morgan evans real estate: Is Food the Way to a Broker's Heart?
- 01/05/09 01:59 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)
morgan evans real estate: Why Should I Be a Sponsor on Localism?
- 12/20/08 03:41 PM
I love Localism and the ability to focus on a specific neighborhood. Having the opportunity to post articles in a forum that is specific and relevant is a great way to connect with people from my community. I have posted articles in my neighborhood and have become a top neighbor by doing so. I have seen the opportunity to sponsor that community but am not fully convinced on the benefits of being the sponsor profile. Other than just having my face and profile up there are there, what else can I do with being the sponsored profile? Does it help my … (11 comments)
morgan evans real estate: Co-broke or Go Broke!
- 12/19/08 10:56 AM
When I first started selling real estate in Manhattan an experienced broker said to me, "Sometimes you either co-broke or go-broke." New York City is a different animal as far as the exclusive broker being the gate keeper to every single one of their exclusive properties. As I have blogged before we don't have keyboxes on our properties. Any time an appointment is made to look at an apartment we have to show it ourselves. In years past when the market was red hot getting appointments to see a great apartment could become very difficult. The listing broker would have a … (20 comments)
morgan evans real estate: WALKING AWAY FROM $152,000.00!!
- 12/17/08 02:56 AM
Walking away from $152,000.00!! When a buyer signs the sales contract in New York City they also make a deposit of 10% on the agreed upon sales price. Essentially this is their earnest money deposit. Considering that the average sales price is over a million dollars in New York City, this deposit can become a small fortune. Some unfortunate new construction buyers have been forced to walk away from their contracts because at the time of contract signing they put down their 10% deposit and qualified for a specific loan program. While they were under contract and the building was going … (41 comments)
Licensed Real Estate Salesperson 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.
I have a fair amount of confidence in my product knowledge for the type of properties I represent and the buyers that I typically work with. I would categorize my expertise as sub-million condominium properties.
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