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The Sun is Shining, weather is sweet!

April 15, 2011 2 comments

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Blue Skies

This is a great image to head into the weekend with in our minds.

I love the spring and summer as it is a time of hope. There are many places one can think to live in NYC. the most in demand areas are Gramercy, Union Square, Chelsea and the Village. The blend of subway access, tons of restaurants and shops to discover, a hip crowd and the feeling of safety due to so many people constantly around enjoying the area gives a fresh feeling.

There are many tree lined and even some cobblestone streets in the West Village. New York is often thought of as a building of huge skyscrapers, but being in these areas gives a glimpse into New York’s past and a more warm and serene feeling amidst the hustle and bustle found in midtown.

The high demand and low supply of housing here makes for an interesting dynamic. The market rate rents are higher than most of the people looking can afford. The best “deals” are often still way higher than anywhere else in the city. People still will line up and often, if a place is solid enough in terms of location, quality and space, people get very creative in figuring out a way to secure it.

There is nothing better than the right location in this city. People travel as much as two hours each way to commute into Manhattan to earn a higher salary. There are things we all trade off on to live here. Some prefer to get a lower cost of living for better space and quality. While others pay premium for the best possible location and as a result, feel that the quality of life is improved.

While I can’t say which way is right for your particular situation, I can definitely find the best in either respect if you need to move. The sun is shining, let’s enjoy it!

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Down with OPC. Landlords rollback broker incentives. (via APTcetera…)

April 8, 2011 1 comment

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My colleage and compadre Peter Charles Bright is spot on with this post. It is a piece that I intended on publishing and he may have hit the nail on the head harder than I. Do take time to read this if you are considering renting in NYC this year. Timing is crucial!

Down with OPC.  Landlords rollback broker incentives. OPC how shall I phrase it… I guess I’ll frame by frame it… The O is for Owner and the P is for Paid (c) Commission… OPC or OP’s are the way you get a broker to work for “free” or “no cost” to you. For example on a 2k apartment, the owner jacks up your rent $1-200 and then uses this innocent increase as a marketing incentive, paying a month commission for brokers successful in introducing a renting client to their property. This 1 month comm ‚Ķ Read More

via APTcetera…

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Hello wordpress world!

March 16, 2011 Leave a comment

I am excited to expand into WordPress. In the interest of giving you a fast track all about me, I have imported my previous entries from blogger. Take time to play around in the archives there if you are interested in Manhattan real estate as there is a wealth of information.

There will also be updates on many other facets such as entertainment, sports, fashion and of course, nightlife here as the blog grows.

As I get more familiar with the GUI here, I look forward to bringing you all sorts of great tidbits from a distinctively NY perspective. Do feel free to comment, even if an old post. I will work on importing other feeds such as Trulia, twitter, Facebook and active rain.

Do enjoy!

Rookie or Veteran?

March 14, 2011 Leave a comment

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You are here looking for a home. You call or email about a specific place that’s the DREAM home on the perfect tree lined street, only to not get an address, hear that it’s rented or if you are lucky, get taken to a box facing a brick wall.

This is the most in demand market to find a home and the busiest time of year for rentals is approaching fast. The vacancy rate is under 1% again. To put that it in perspective, for every one building with 100 apartments in it, you MAY be able to sublet a room from someone within.

To move is an important decision. Likely one of the more important ones you are likely to make in the next three to four years. To do this and not choose wisely the target of attack is like throwing dice against a wall. Is that really how to chose a home?

There are over 27,000 licensed real estate salespersons in this city. Each year there are about 10,000 transactions. The amount of new agents that actually last in this business is less than 10%. This brings to mind an interesting question.

Would you buy a car from a pizza-maker? Get a haircut from your bank teller?

That’s the likely result when you put your trust in an inexperienced agent. He/She will likey be in another industry when you are looking to purchase in two or three years IF that agent can even find you and secure the right place.

If that’s what you want to spend your time doing, then you can do that without a broker and save the fee if you are able to find a place. This is not the time of year to risk losing the perfect place because someone wants to show you what they want you to see and not take you to what you are telling them you want.

A broker earns the fee for much more than just how many places they show you. A good broker earns the fee for showing you less places that are ALL viable options based off of your needs. There is no way that a rookie can do this without the proper inventory knowledge. There are many managements, co-op/condo owners and developers to choose from. Too many apartments to list that turn over before they can even be listed during this time of year.

The essential functions when using a broker for a rental are to save you time in the initial search, securing the apartment by having the neccessary documentation, saving money over the course of the initial year or two by finding that gem that is NOT available to the public and PERHAPS a below market rent. This is among the many other hats (pun not intended if you know me) we wear. (Board package and interview preparation, relationships with owners/landlords/supers/porters, knowledge of areas for those relocating and other networking possibilities).

Take time to really think about your search for a home and remain open minded about the possiblities. This city is a cornucopia of experiences for you to delve into. Make sure that you are not being led by someone with no sense of the realities in this marketplace.

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