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Friday, December 22, 2006

NYC housing stable and positioned favorably

housing permits chartmarket reportAccording to the NYC Office of Management and Budget's November 'Report on Current Economic Conditions', local housing development has remained more positive than the rest of the nation, with flat inventory growth from Q2 to Q3, and stable home prices. As the chart shows, developers continued to show confidence in the long term health of the market when compared to the national average. download the full report (208kb .pdf)

Tuesday, December 19, 2006

we are buying in a new development that is not closing for a year. Can we lock in an interest rate now?

hooking a rateask_id.gifThe popularity of new developments has made this a prominent issue recently, since the purchase is often made well before the building is actually habitable. It is one of the special considerations of this kind of purchase. It is not uncommon for a purchaser to have to wait from several months to a year or more, through a somewhat imperfect development schedule. Then be asked to close upon 30 days notice, once the developer obtains a temporary certificate of occupancy. A buyer in your position has a number of options.

continued+

Friday, December 15, 2006

a year of growth in a changing market

NRT letter from Bruce Zipfheadroom2007 is winding down as we start looking forward to taking a break for the holidays. I was really surprised last week when our Managing Director, Scott Durkin, handed me a letter {click to enlarge} from the CEO of NRT, Corcoran's parent company, at our weekly sales meeting. It turned out to be a citation about my recent sales record. I'd finished in the top 2% of the company nation wide.

continued+

Thursday, December 14, 2006

design blogfest in soho

blogfest sohoI attended "design blogfest" last evening benefiting the Soho Partnership, an organization dedicated to making a difference in the lives of homeless people in lower Manhattan. What a great turnout at the Design Within Reach Soho location on Wooster Street. Well over a thousand people passed through the doors last night to show their support.

continued+

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