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Wednesday, February 28, 2007

Finally Flatiron

flatironI moved to Corcoran's newest office located in the Flatiron district last April, for many of the same reasons that are mentioned in this week's 'Living in' column, Polishing the Grit Out of a Neighborhood in the NY Times. I wanted to be based here for many reasons, not the least of which is that I consider it one of Manhattan's most overlooked neighborhoods, and that was bound to change rapidly. It's a place where there is real value in the quality loft homes, local amenities, shopping and excellent transportation to every other part of the city via the 6,N.R,W,F,V and nearby 1 trains.

continued+

Tuesday, February 27, 2007

Many of my friends have taken ‘interest only’ loans. I am starting to wonder if I should consider one as well?

checkbook.jpgask_id.gifThere is a great amount of “interest” in these products in recent years. These loans are not really a new financial product. Interest only loans have always been offered by private banking divisions to high income, high net worth clients. What has changed is that just about every lender has rolled out these programs in recent years and they are thus offered to any and all borrowers. In my opinion, that’s the problem, or at least the beginning of— read on! To be fair, let’s lay out the structure, benefits, and risks of this very popular loan program.

continued+

Tuesday, February 20, 2007

It's official, the Manhattan market is hot again

shoes_sm.jpgheadroomRegular readers of this blog won't find this story any surprise, but an article titled Housing Market Heats Up Again in New York City penned by Tracie Rozhon of the The New York Times, confirms that both buyer activity and prices are up in Manhattan for January. We reported the story here first, almost a month and a half ago, in my first 'Shoe Leather' post on 01.09.2007 simply titled 'Open house attendance soars', and followed up by 'Market heats up as temperatures drop'. NY Times readers catapulted the story to the number one most e-mailed story of the day, mirroring the public's very substantial interest and surprise in the strength of the marketplace. Nice validation that the kind of direct, anecdotal reporting, which is possible from the pavement level view of this broker blog, is giving an accurate bounce on market trends a couple of steps ahead of the pack.

continued+

Sunday, February 18, 2007

The psychology of pricing & achieving critical mass

inkblot.jpgmarketingThe New York Times Real Estate section's cover this week is on The Psychology of Pricing. It follows on the heals of last week's cover about presenting properties for sale on the Web titled Making Evey Pixel Count, they are both must reads for buyer's and sellers. The pricing article is about what may be running through the minds of buyers, sellers and brokers when thinking about the price of a property and how to approach it. Permit me to use it as a jumping point to add some greater depth about how the psychology of pricing connects with the timing of the best opportunity to sell a home.

continued+

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