Coming to Manhattan

You should get a personal referral to one trusted by a friend, colleague, relative, etc. You can't pick a realtor and know what you are getting over the phone or internet.

I agree with Kylewest. Also, I have found great variations within the big three when it comes to integrity, etc. Some great people, some real jerks.

I would be more tied to the big three if I were selling rather then buying. The game is much more of an even playing field on the buying side.

Go more by the strength of the referal then the firm the broker works for. In addition to friends, colleagues etc. real estate lawyers can offer some god referrals too.

You should use urbandigs as your buyer's broker. (Go ahead --- just google urbandigs.) And perhaps we can all follow the whole scenario from soup to nuts. Urbandigs will prove to all of us that he is a buyer's broker par exellence, and you will end up with a fabulous apartment and a great deal!!! And we will all be highly observant, watchful, and entertained by the entire thing!!
On the other hand, you probably really only need to rent a place -- in which case you should consult Spunky, who has a great place to rent to you!!!! And also consult Stevesfx (or whatever his last four letters are) regarding the wisdom of renting over buying.

Yes, follow poorishlady's advice. You may also want to purchase a one-way ticket back to California.

I LOVE the opionions and help you guys are offering--I've already received a few referrals from work, just thought i'd see what people on this site might have to offer. Won't take the one way ticket back to california, but it will be interesting to watch the market here over the next three to six months as I actively look. Sellars in Los Angeles are getting over the "sticky pricing" finally, but it looks like Manhattan is just now starting to feel it (at least in the million dollar range), yes?

It's a buyers market, so prepare to bid low, lose the bid, and rent.

I do think it's a buyers market but I don't think you'll see any severe downturn. I think that there will be a lot more negotiating room, particularly in regard to closing costs.

Is there any part of town where most of your work is?

I agree - urbandigs.

urbandigs, definitely

Calif_NYC:

Urbandigs is a broker in good standing in NYC. Given his history of contributing to this board and the reputation he's earned, interviewing him is probably the right place to start.

So the one thing I will tell you I will tell you not to pitch you, but to defend a fellow member of my profession: try to be honest with yourself about your timeframe.

Overall, there is often a long path from intending to move to New York to actually purchasing in New York.

If you are buying a condo (which I assume you are), your buyer's broker is making around $30,000 from that transaction, half of which will get eaten by his firm for rent, advertising, licensing costs, etc. So the agent is working a $15,000 piece of business. Make it clear to your buyer's agent WHAT services you expect for your $15,000, and make sure they make it clear to you WHAT they will offer to earn that money.

Be aware that if you do intend to take a year to make your decision, that will probably be okay with a good agent as long as they know that upfront. A buyer's agent is as good as his client is honest.

Where the buyer-broker relationship breaks down is when the buyer says they're going to purchase in 60 days, and so the broker doesn't chase work from a seller, and then the buyer changes his mind and the broker has empty pockets. It's happened to me, it happens to everyone, and it sours the relationship on both sides.

ali r.
{downtown broker}

Thank you for your insight front_porch. I'm getting pre-qualified and approved as we speak (should know this week, my limit). Will consider condo's and co-op's. Looking to buy in the next 6 months. My offices are in Mid-town so will be looking there (and North and South of that). Regarding the Urbandigs recommendations-Is everyone recommending Noah Rosenblatt or Christine Toes? I can't imagine that people on this sight would really be interested in the comings and goings of a Californian (Los Angeleno) trying to buy in NYC. One last thing, Inventory seems to be up in NYC.... Has the market fallen into full bore "sticky pricing" yet?

Some price drops depending on neighborhood, building. I think the market is soft and belongs to buyers. When agents say, "make me an offer," they really mean it. In spite of what some on this board have suggested, I do not think there is going to be a severe downturn, but we may see some single digit percentage declines.

Still, I'd start out asking for 10% below asking, and concessions on closing costs (state and local transfer taxes, mainly). Sellers may just meet you half way. The closing costs angle is particularly useful for new construction/conversions; sponsors usually don't want to cut prices.

I was endorsing Noah, I don't know Christine.

As far as pricing, I work for a firm that specializes in downtown (SoHo/Tribeca/Village/Chelsea) and in general, things that are well-priced move and everything else sits. You would think prices of the stuff that is sitting would come down, but they haven't -- sellers have their backs up.

That said, offering under market is probably not going to kill you.

Overall, the entire market is weird and slow, we are seeing a lot of contracts go out and sit for weeks, and we are also seeing a rise in board rejections after contract signing. I do think it's very striated -- I was quoted in the Journal about two weeks ago saying that one-bedrooms are slow and two-bedrooms are faster, and I still feel that.

ali r.
{downtown broker}

Thanks again front Porch.... Dare I reveal who has been suggested to me with my business compatriots? I'd hate to give a name and have people make fun of it....

Are you getting pre-qualified by a lender in NYC or Cali? A NYC lender may better inform you of the taxes and closing costs. Also, if youre looking into a new development here, we would be better equipped with educating you about financing options. And at closing time, you might want them readily accessible just in case anything comes up. sunny_hong@countrywide.com

I'm getting pre-qualified by a NYC lender (using a mortgage broker).

Not to take anything away from the mortgage broker but in this market of uncertainty but directly dealing with the bank is probably a better way to go. I think most people will agree. They dont have an in-house underwriter but rather send files out for conditional approvals.

Re Midtown, you can probably get some good deals west of 2nd Ave., also in Turtle Bay generally.

meant east of 2nd

Example from a Turtle Bay building found on Streeteasy

1 bed 699k (in contract but you can see the type)
http://www.streeteasy.com/nyc/sale/179502-condo-236-east-47th-street-turtle-bay-manhattan

2 bed 1.2m
http://www.streeteasy.com/nyc/sale/189764-condo-236-east-47th-street-turtle-bay-manhattan

I would rent first -- do not pay a broken -- use a management company -- and buy a place next year. good luck to you. Try sutton place. Glenwood has nice rentals.