Friday, November 27, 2020 / by Vanessa Saunders
Thanksgiving day survivors parade.
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
Yesterday, people across America celebrated Thanksgiving 2020 in spite of high unemployment and an economic recession pushed by a global viral pandemic. We have been urged to celebrate holidays this year on a minimal scale, eschewing travel, virtually visiting friends and relatives while staying home. But even with all the negative things happening in the world today, celebrating Thanksgiving made me realize just how much we Realtors should be thankful for. Here are just a few:
Realtors are thankful for a thriving real estate market.
Existing-home sales in October were 27% higher than a year ago, new-home sales were 32% higher, and pending home sales or contract signings in September jumped 20.5% annually.
Realtors are thankful for low interest rates, (if they can get them).
Any added incentive for buyers is a bonus, and having mortgage rates below 3% is a b; ...
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Tuesday, February 25, 2020 / by Vanessa Saunders
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems
Morgan Housel, a partner at Collaborative Fund and a former columnist at The Motley Fool and The Wall Street Journal has compiled a list of "100 Little Ideas" that help to explain how the world works; In reading them over, I found a lot of them apply to the upcoming election in general, and tonight's Democratic Party debate in particular. For example, we might experience the candidates practicing Courtesy Bias: "Giving opinions that are likely to offend people the least, rather than what they actually believe."
Another tactic we may see is called Poisoning the Well: Presenting irrelevant adverse information about someone in a way that makes everything else that person says seem untrustworthy. “Before you hear my opponent’s healthcare plan, let me remind you that he got a DUI in college.”
Or how about the unfortunately named Buridan’s Ass: A thirsty donkey is placed exactly midway between. ...
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Thursday, February 6, 2020 / by Vanessa Saunders
Because of new rental restrictions in New York, landlords must pay the fees of their brokers instead of requiring tenants to pay up front. At first, this sounds like good news for tenants, but critics say landlords will skirt the law simply by raising rents to compensate for the added expense of a broker.
Tenants hiring a broker to find rental properties for them will still be responsible for the broker's commission.
For more information, click HERE to view the CBS2 New York news segment aired on the eleven o'clock news, Wednesday, February 5, 2020.
If you're considering renting, buying or selling a property locally or globally, or need more information, CLICK HERE. ...
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westchester county, manhattan, buying vs renting, manhattan real estate, condos, rental available, rentals
Friday, January 17, 2020 / by Vanessa Saunders
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems
It wasn't pirates, but it might as well have been. The market is currently at the lowest it's been since 2017 for homes available for sale, and it doesn't look like 2020 will be much better.
One good thing is that mortgage rates remain at historic lows also. But the big challenge to the housing industry is the lack of homes available for sale. Last week, move.com released a report which stated:
“Last month saw the largest year-over-year decline of housing inventory in almost three years with a dramatic 12 percent decline, pushing the number of homes for sale in the U.S. to the lowest level since January 2018.”
The report also revealed that the decline in inventory stretches across all price points, as shown in the following graph:George Ratiu, Senior Economist at realtor.com, explains how this drop in available homes for sale comes at a time when more buyers are expected to enter the mark. ...
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Tuesday, January 14, 2020 / by Vanessa Saunders
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems
You know all those ultra-slender, ultra-fancy tower condominiums that have been popping up out of the Manhattan concrete since 2015? Next time you look at one, bear in mind that half the condos in them are empty. Surprise! No buyers, according to Nancy Packes Data Services. The other half are probably Starbucks that have gone vertical.
The reason for all the empty rooms over Manhattan: a combination of overly aggressive pricing and a growing public disdain for the skyline-disrupting mansions in the clouds. But really, it's all about pricing.
Comparing the prices of new development units to resale units over the last decade tells the story. In 2012, new units sold for a 22% higher prices than resale units. At the end of last year, the premium was 118%.
Nancy Packes lists three reasons for the “extraordinary oddity of the current cycle. ”
According to Packes, buildings comp ...
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westchester county, manhattan, executive homes, house pricing, manhattan real estate, westchester home for sale, manhattan coop, central park west, condos, westchester condo, coops, manhattan skyline
