In Manhattan, as the weather heats up, the market traditionally cools off a little. That creates opportunities for buyers as offers are often a bit more scarce, and traffic slows down, due to vacations and the weekend migration out to the east end of Long Island. Summertime could be the best time in several years to negotiate for a new home. Conditions for buyers are ideal.
May 22, 2009
If you are like most purchasers, you will want to borrow a large portion of the purchase price for your home by obtaining a loan. Real Estate Attorney Keith Schumann discusses and defines some of the basics here about obtaining a mortgage to purchase your co-op or condo.
May 18, 2009
The number of signed contracts for both condominiums and co-ops increased in April from March, but continued to show price declines in most categories from a year ago. Inventory appears to be showing signs of stabilizing due as the New York City Winter/Spring market winds down and the new development pipeline slows to a trickle. Buyers took advantage of the market conditions, scooping up deals at significant price reductions from a year ago. I'll have a new post on negotiability soon, but for now, here's the April 2009 snapshot of the Manhattan apartment market.
May 13, 2009
If you live in Tribeca you may have received one of my tongue-in-cheek postcards depicting this scene of a local hot dog stand on the waterfront, at the corner of North Moore and West Streets in 1936 making the point that Tribeca's industrial waterfront has yielded way to a more gentle residential neighborhood. It includes some of the best restaurants in the city today. Sixty-seven of them will be offering a taste of their wares at the annual Taste of Tribeca fundraiser supporting Arts and enrichment programs at Tribeca's two public elementary schools. Founded in 1994 by the parents of children at PS 150 and PS 234, his culinary festival brings together Tribeca’s best restaurants in an unforgettable and delicious experience.