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Fairly certain, but maybe not. Too lazy to look it up, so easily can later say you weren't wrong because you didn't look, then its the other person's fault, not yours. Maybe, I guess, possibly not, depends.
I'm fairly certain both don't include outliers but I'm too lazy to look it up. Do you know? Either of you? Do you have anything to offer about the topic.? Reallynow, you're not so really now. Or then.
"Do they include outliers? I thought they didn't, although that might be miller."
Once again, not sure.
Rhino and aboutready talking about price trends is like Cheney and Kristol talking about what we should do in Iraq...
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"still, it's shocking how little most save and how much $ they waste on housing. puzzling behavior. "
Millions of people make their livings in New York City, but quite a few of those millions cannot afford to live anywhere in the city, and many more are just barely making it, "wasting" their money on housing without having anything left over to "save".
I suppose everyone in the middle class who makes their living here in New York City should consign themselves to three hour commutes, living in Reading, Pennsylvania, so they can avoid "wasting" money on expensive housing here in the city?
meant "households should be saving 10%-15% at least in average"
expert, no doubt. housing should be saving at about 10%-15% given how fast boomers are retiring. still, it's shocking how little most save and how much $ they waste on housing. puzzling behavior.
Really? I don't think that the Wall Street Journal is paying its reporters any more than they used to.
1. the Journal article concerned highly skilled workers
2. and new factories which will only employ hundreds of Americans
3. March 2013 to April 2014 worker earning did not rise at all
4 in recent years there has also been an explosion in both part-time
and low wage work, not to mention unemployed and in many
instances no longer employable law school and college grads
will more than offset any interest rate increase....cycle continues
I hope you are laughing because you bought them for $750k or less....otherwise, what does all of the info above basically tell you?
lol that would put my place in brooklyn heights at around $750k (2br/2bth@4k a month)
at $750k......I'd be buying 3 of them.
"(owning is much cheaper than renting)"
When you start with this as your PREMISE, then you argument is fundamentally worthless.. and the rest is useless.
"Renters get ZERO percent return"
The long term stats say buyers get zero return.
Renters get whatever return they put the money they save on a down payment and/or cheaper monthly payments.
I am looking to advertise an open house on here, but I am not sure of how to do so. If anyone knows how to can you please explain it to me? Thanks!
Thank you for your comments!
Agree w/ Ottawa. Apt facing an exposed subway (even several floors above) is going to be significantly noisier, 24x7, than an apartment overlooking a park (even if there's a busy street between your window and the park). This is probably on Ocean Ave, where the Q comes above ground. For me, the apt in the back over the subway would be a non-starter.
Not much info, but you are basically saying a negative view versus a very nice one. So big difference IMO. Maybe 25%
This blog post by Noah on Urban Digs is a good place to start:
I was looking at apartments around Prospect Park. I found a building where there were 2 apartments that have the exact same layout and square footage, but one faces the park and the other faces the subway, which is outdoors. A bit more:
Apt A: Faces subway, but on higher floor and has recently been renovated.
Apt B: Apt faces the park and is in move in condition, but needs about 15K-20K of work to match Apt A.
Based on this knowledge, what % difference that you think the apartments should cost?
515 West End Avenue #3B: Modest 3BR/2BA coop. Renovated around 2001, adding central air. Re-sold 34% above January 2010 acquisition cost, and 22% above ask.
10/02/2009 Listed by Warburg at $1,550,000.
11/07/2009 Listing entered contract.
01/11/2010 Sale recorded for $1,675,000.
09/29/2013 Listed by Corcoran at $1,850,000.
10/19/2013 Listing entered contract.
01/09/2014 Sale recorded for $2,250,000.
215 West 88th Street (Merrion) "E" line: A pair of six-into-fives, with the same sponsor renovation. Up 67% since 2009 - probably a bit more, considering the difference in elevation.
--------- Recorded Sales ----------|--------- Previous Listings ---------
11/22/2013 # 8E $2,500,000 - 3.9% | $2,600,000 3 beds 2 baths 1,542 ft²
11/12/2009 #12E $1,500,000 -13.9% | $1,795,000 3 beds 2 baths 1,542 ft²
GO GO TEAM RE !!!!! GO GO!
To INFINITY AND BEYONDDDDDDDDDDDDDDDDDDD!
That's some big azzed DDD cups.
1. the single family vulture home market does not materially
influence NYC prices because its business model is based
upon buying foreclosures in depressed but rising markets
2. the stock market's swoon might energize price escalation
in the near term because it will probably lead to capital
flight into real estate, and because it will encourage
some owners to refrain from selling theur apts because real
estate appears to be a stable and rising asset while stocks
appear risky and increasingly so
You guys assume there will still be significant price increases across all neighborhoods or more in the hot areas?
Weakening demand by financial companies that have been snapping up thousands of US homes on the cheap could fuel a future fall in house prices, the chief economist of Fannie Mae has warned
Also Fed has begun pulling back on Q.E. A Fed tightening could derail the sail winds of real estate. My guess is the market 12 months out is flat to down a little.
So we're projecting 2015 even though 2014 is barely under-way? Interesting.
Personally I think the real estate market , especially in Manhattan has gotten ahead of itself. If there's a surprise in store, I would think it would mean a pullback in prices. The market right now is totally driven by foreign money, at least in the new construction condo market.
Real Deal had an article recently about the real estate industry's heavy investment into tech.
Well, we know the sizzling RE market (in certain parts of the US, in particular) cannot keep shooting straight up. Moderation is indeed good and a "soft landing" for RE in 2015, 2016.
Also, Zillow states there is still a lot of money to be made right in USA, focusing on sales, rentals, and mortgages. Advertising and mobile use important to Zillow's current growth.
(NOW IF ONLY ZILLOW WILL NOT KILL THE ORIGINAL HIGH QUALITY STREETEASY FORMAT! My Words)
I wouldn't take financial advice from stevejhx unless you want to go broke.
To bad I didn't do the exact opposite of what he preached over the years for I'd be in the category of the super rich by now.
stevejhx? at least w67thstreet can't be proved wrong since he owned commercial property, residential property occupied by his mother, and then bought even more residential condo property.
Did you post this just to show how wrong Steve was all those years?
Any update from inonada?
inoitall, 300_mercer never replied to you - do you think that's because of all the money he's losing?
In their methodology paper, they clearly spell out that fit the index using ln(price_at_sale_2 / price_at_sale_1). You need to do this so that a 2x sale followed by a 0.5x sale of the same property returns you to a flat price end-to-end.
For outliers, this means that if the market went up 2x over some period, then a property with a 4x resale is just as much an outlier as one with a 1x resale.
Is that what they said? And how does it matter - prices naturally can't go below zero limiting the possibility of an extreme outlier to the downside.
Can prices even go near zero - will a foreclosure kick in first?
Just sit back and let Mayor de Blasio do the work for you...
An amusing article from the New Yorker on using the Broken Windows Theory to make New York apartments more affordable.
Liu-ser has a nerve!
Like a bad penny, John Liu won’t go away.
The comptroller is suing because the Campaign Finance Board denied him millions for his failed mayoral campaign. A report says he wants unspecified damages for “deprivation of civil rights, mental and emotional harm, loss of dignity, loss of earnings and professional reputation.”
Actually, taxpayers are the ones who suffered. They ought to sue Liu for being an expensive nuisance.
The campaign board rejected the Democrat’s bid for matching funds when a donor and an aide were indicted and later convicted in a scheme involving illegal donations. It cited a “pervasive” pattern of violations.
Voters didn’t think much of Liu either, giving him only 7 percent in the primary. Out of respect for their verdict, he ought to go quietly.
about 22 months ago
Member since: Oct 2009
ignore this person
yep, unfortunately he's back. i still say this place is upside down as he runs free and others still remain in purgatory. which is why........OCCUPY STREETEASY!!!!
about 22 months ago
Member since: Oct 2009
ignore this person
he is free to crap up these boards with his skewed view of the world and the shameless promotion of his failed business ventures.
Occupy Streeteasy indeed, rangersfan.
How have things gone in the 18 months since User_Usertofferson / petrfitz called for the end of the world?
Wow, there you go, finally something definitive out of your mouth.
No, you are wrong. In every way the word is defined.
I'm wrong but I'm right?
I don't think you have the moral integrity to answer the questions truthfully. Or answer them at all. Truthful answers might be interesting but I doubt that would happen.
Sad, hb, the only way you win arguments is semantics.
you said you didn't want to know. Now you do?
It helps the banks earn profits.
I guess the Fed's asset purchase program ($40 billion of agency mortgage-backed securities and $45 billion of longer-term Treasury securities per month) will continue for a while. I have a lot of trouble believing that that program is actually helping economic growth and employment.
>Not a lot of substance in that critique, just ad hominem.
Minions! That's a good one ericho. Let's say it together! Minions!
Let's go Team RE!
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They've bricked up the windows at ground level to reduce the problems in the future.
you may be correct, it is not in zone A;
however, according to this map, it is right across the street from Zone A.
as close as you can get, without being officially in Zone A.
In fact, this building is not in a Zone A... according to maps, it is in Zone B.
yes. the transfer station will be right across the fdr. it will be closed to this building..
Thank you aalsberg but that s why I mentioned a little bit of long term appreciation potential (I strongly doubt that a house in NJ, which can be built pretty much everywhere very easily at construction costs, will appreciate as well as Manhattan apts).
Forget Manhattan if you want yield. Studios near Columbia may make a slightly higher yield, but the problem with studios and one bedrooms is that they have a high renter turnover rate so you have to build in painting and repairs and a month of lost income to find a renter every one to two years. For yield go to NJ or Long Island you have more stability in tenants and you can get a 6 to 8% return versus half that in NY if your lucky
I agree with alanhart / dealboy.
Can you time-travel?
>I was told told studios near Columbia are very good in that respect.
tell us about your family.
Here's to you C0C0. You and your family.
that's not new either, is it?
do you have any new material?
No, unfortunately it seems to be occurring for many generations in your family.
well..that's not new.
If Cuomo and de Blasio, things should be fun
Cuomo is against Long Island College Hospital, and De Blasio is for it ... http://www.nydailynews.com/blogs/dailypolitics/2013/07/bill-de-blasio-tees-off-on-gov-cuomo-for-lich-closing
also, why isn't cuomo recusing himself from investigating paterson?
out of 171 comments so far first 19 are on topic, pretty good hit rate for SE if you ask me. Anyone had more thoughts on Cuomo, or back to Hugh again?