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Are Amenity-rich Condos Shifting Focus Away from Traditional Prewar Homes?

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, elegant details, 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 some buyers.

But times and tastes change. Once developers began to offer amenities reflecting lifestyle trends such as gyms, party rooms, roof decks and garages, these amenities proved so popular that they are the new norm. In response to demand for these...

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Become an Expert Buyer: Negotiating Tips

Become an Expert Buyer: Negotiating Tips

Negotiating to purchase a home can be an daunting process, especially in New York City – which is one of the most competitive places to live and work. The competition in Manhattan to purchase residential real estate can be fierce! However, if you find yourself in a situation where you have to negotiate against multiple offers to purchase your ideal apartment, remember the four P’s: be Prepared, Plan, be Proactive, and Personable.

Even though it may be tempting to negotiate on your own behalf, most people feel uncomfortable doing so because of lack of expertise and objectivity which may undermine your...

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Your Home Team Part 3: How to Find the Right Mortgage Specialist

Your Home Team Part 3: How to Find the Right Mortgage Specialist

This series features advice on how to build the best team of professionals who will help you with the buying or selling of your Manhattan home. Assemble your Home Team by also reading Part 1: Real Estate AgentPart 2: Real Estate Attorney, and Part 4: Professional Renovator.

To find a good mortgage broker for your Home Team, start your search by asking your real estate attorney, real estate agent, or personal network for recommendations of a mortgage specialist: either a mortgage broker or banker with whom they have had a great one-on-one experience. There are three different types of mortgage specialists...

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Market Report: November 2017

Market Report: November 2017

The Manhattan real estate market continues to be beneficial for buyers for the remaining weeks of this year.  It is difficult for many sellers to appreciate why, with the record high stock market and strong economy, sellers are not reaping the benefits.  The answer is that the stock market and real estate market do not always move in tandem.  In fact, there are many cases that point to the exact opposite (as is the case now), when the stock market is strong and the real estate market is weak….and vice versa!

There are other factors that influence the real estate market...

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Be an Expert Seller: The How and Why of Pricing a Property

Be an Expert Seller: The How and Why of Pricing a Property

Pricing a home is both an analytical and emotional process. Sellers are often approached by brokers vying to represent their home with market data that shows comparable listings and recent sales.  To establish an asking price, the broker analyzes the data based on those listings and their knowledge of the market; subsequently they recommend a price to the seller. A seller can largely do the same, however they should recognize that their valuation of their home is often biased. This mindset is normal: influenced by their emotional attachment, sellers tend to think that their property is worth more compared to other homes.

The first...

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