Happy July 4th!
A: Sorry guys, I had a bidding war for an exclusive sales listing of mine and 2 new sales listings that just came to market. With July 4th upcoming, I had to get business taken care of leaving me no time to post to urbandigs.com. Just wanted to wish everyone a Happy holiday a bit early! Its generally a slow holiday for brokers dealing only with sales, but I will be around working anyway. Man, I got no life. I'll get back to posting and live chat soon so at least you have my take on what I think is going on macro economically and in Manhattan real estate.
PS: If there is any particular TYPE OF CONTENT that you enjoy seeing here or that you would like to see me report on, please don't hesitate to either comment here or email me!
I strive to give you what you want to see but its hard when I don't hear from you. I can only assume that what I would like to see and discuss, is the same or very similar to what you would like to see discussed in this open forum. As always, this blog's ultimate goal is to be forward thinking and discuss how to best invest in Manhattan real estate, and hopefully learn a few things along the way! Bringing transparency to New York City real estate will continue to be a personal goal of mine, but as Ron White once said, "I'm only one man!"
FYI - I am hot-n-heavy working on a very cool tool that is a direct result of many emails and observances from my time in the field with buyers and sellers. However, this tool will take time to do right and that means data collection for months so we can properly build what I have in mind. In the end, I think you will find it VERY useful and educational in my attempt to make the Manhattan real estate marketplace a little more transparent!
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Comments (9)
This is an excellent website Noah - great job. Would love to see more discussion about renovations and improvements that raise the value of one's property - why not do a weekly/monthly spotlight on kitchens, bathrooms, closets, floors, lighting etc?
Posted by Sydney | July 3, 2007 12:09 AM
A possible interesting area of discussion could be new apartment sales. Specifically, when a new condo bldg is constructed, how does one know if the pace of sales is solid enough to warrant a purchase? What are the numbers to look for? Or, is this an inexact science with too many unforeseen variables?
For example, a new bldg has just commenced construction or rehab with 100 units for sale. Apts. have been available for say 1 month, and 6 have sold? Is this a good indicator of strong activity? Are sales slow?
I can say I really don't know how to gauge this?Thanks
Posted by d Stein | July 3, 2007 7:53 AM
Perhaps highlighting buildings with very strong financials and low carrying charges, along with any "steals" on the market....thanks for all your efforts with this site..
Posted by Michael | July 3, 2007 9:21 AM
I second Sydney's comments and I'm also interested in hearing about what changes you should make to an owned apartment that you plan to rent out in the future. How do you maximize the rent you'll get without overdoing renovations/cosmetic changes that will endure the wear and tear of a tenant? I'm also interested to hear your thoughts on outdoor space (from balconies to large terraces) and how to determine what premium you should pay for it. Thanks for this site, I read it every day!
Posted by Allison | July 3, 2007 9:41 AM
It'd be nice to see how New York real estate affects other parts surrounding New York (i.e. Brooklyn, Jersey City, Hoboken) given that those are alternative options to housing for manhattan residents. Seems given the construction over in NJ, many manhattan people are seeing the new construction over there as viable options for housing. Could you provide any studies as to how much prices are tied to manhattan, and what sort of gaps you're seeing? Thanks.
Posted by Anonymous | July 3, 2007 10:36 AM
good stuff!! I did touch some of these topics loooong ago, so perhaps Ill republish them and then post an updated take on the topic as well.
Keep em coming. I need a few days off but I will address all these suggestions in near future! Thanks ALL!
Posted by Noah | July 3, 2007 10:37 AM
This is a great site!!! I'm starting to think about buying - and your site gives me a lot of insight into the market. I would love to hear what you think about the rent vs. buy debate.
Posted by David | July 3, 2007 10:52 AM
Some basics on pied-a-terre
Posted by Sharon | July 4, 2007 12:40 PM
Piggybacking on Sydney's comment, a section on new and upcoming condo developments would be helpful. I don't believe there is a website out there right now that has all this info. Well, there is www.streeteasy.com, but by the time info gets released there, developments have usually sold through 20-30% of their inventory and are on their first and second price amendments...
Posted by Anonymous | July 5, 2007 10:57 AM