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Are Townhouses the Best PPSF Value?

Are Townhouses the Best PPSF Value?

Although many buyers in the past have shied away from townhouse living in favor of full-service condos and co-ops, a variety of factors have converged that many believe is creating a major shift in buyer interest. In fact, it has already occurred in the very active multi-family category. Investors see these properties as attractive investments but they also appeal to buyers who are looking to use rental income to offset mortgage and tax bills. The on-going low level of inventory has created a third category of buyer interested...

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Are amenity-rich buildings shifting focus away from the appeal of prewar?

Are amenity-rich buildings shifting focus away from the appeal of prewar?

Prewar apartments have long been prized for the quality construction and charming details that are absent in most postwar buildings. Along with plaster walls, hardwood floors and gracious layouts, prewar buildings are associated with impressive lobbies, desirable locations, and landmark status. The finite quantity of these buildings has only made them more desirable in the minds of many buyers.

But times and tastes change. The view that postwar buildings, with uninspired layouts and inferior materials, were second-rate started to change once developers began to offer amenities reflecting lifestyle trends such as gyms, party rooms, roof decks and garages. These amenities proved...

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Strategies for Buyers and Sellers

Strategies for Buyers and Sellers

OPPORTUNITIES FOR BUYERS
Even though we are headed into one of the strongest seller’s markets we’ve seen, I cannot stress enough that there is still strong potential opportunity for buyers right now. That opportunity comes in the form of “stale” listings. When a property sits on the market, a perception is created that something is wrong with it. Most of the time this is not true. Properties must be perceived as a value proposition to sell and more often than not, the owner of a “stale” apartment simply overpriced the apartment in the beginning and turned off most prospective buyers....

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Staging – Do You Have To?

Staging – Do You Have To?

Staging has become part of the standard drill in preparing a home to sell. Making a good first impression, whether via photos on the internet or as the buyer walks through the door, has never been more important when marketing a property. Brokers typically advise sellers to undertake some level of staging, ranging from a thorough cleaning and de-cluttering, to rearranging furniture and adding accessories, or in some cases, an interior redesign or renovation, or renting furniture to fill an empty home. The appropriate level of staging depends on the home’s condition and the seller’s budget, and depending on the...

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11 Strategies for Best and Highest Offers

11 Strategies for Best and Highest Offers

In a market where there are more buyers than there are homes for sale, multiple offers and bidding wars inevitably erupt. Asking all bidders for highest and best offers can be the most efficient way for a seller to select the offer that works best for him. Although stressful and frustrating, highest and best scenarios do give all bidders an equal opportunity to have their offers considered.

For now, multiple offers are the new normal. Buyers who aren’t comfortable with making highest and best offers may be better off delaying a purchase until the market takes a turn and competition abates....

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