Recent content by Keith Burkhardt-President

"In the $2 million and under market we are at about the slowest we have been in the last 20 years." Exactly what we're experiencing. To quote Olivia Rodrigo " it's brutal out there". We need rates to fall, but even more importantly we need the fed to make their first cut. If neither of these...

We also just had a deal, last week with a hard won accepted offer and then after 3 or 4 days of due diligence the seller changed their mind. And this place was on the market over 200 days. Couldn't handle the fact that a home they bought in 2007 was going to lose money on a sale today after...

As usual it would seem we are on the same page. I think I just misinterpreted some of the data that you were presenting versus what we've been experiencing. I was starting to feel like, "is it only us?" Lol. I still feel like it's neither a buyer's market(referring to your buy signal) nor...

Listening to the latest Manhattan market update, and the data you're reporting makes it seem like we're just in some sort of mild declining market. However, what we're experiencing, what I'm hearing from bankers and attorneys that I speak to, as well as other agents, for lack of a better term...

I know a few people in the business who recently made rather big financial decisions based on income they generated in the last couple of years. They're now in a rather difficult position. Ironically, I remember the bad times more than I remember the good times. Hence, I've always had an issue...

Yup. I learned my lesson the hard way many years ago....

David, I thought you were a little premature with it last time. But I think now would be a good time to dust off that article you wrote on agents being prepared for down markets. Can't remember what it was called, but certainly very relevant right now.... Keith

I've been traveling quite a bit this summer, I just stopped by to take a look at the latest Urbandigs data. Was surprised to see your market pulse in the 'seller market' territory. Not completely surprised regarding Brooklyn, we're still seeing multiple bids on many of the properties we're...

First Republic is also known for being somewhat easier to deal with in buildings with less than ideal financials. At least in the past the bank was more concerned with the net worth / income of the borrower, a little bit less concerned with the subject building. We have a deal closing with...

When you know how to do the math, it's a pretty transparent game. But I think most retail buyers are just looking at price action. No kidding, I had at least three or four friends send me text messages, what do you think about buying first republic (no idea why they're asking me?) Of course I...

Curious why the market valued FR at $170 or something, now at $13? Has that much changed for the bank? Is there opportunity here?

I have to say I'm conflicted on these bailouts. I remember my grandfather being pretty perturbed by the Chrysler bailout in the '80s, for what he called a failed company with bad products. All the banking regulations and other financial regulations, don't seem to be enough. Especially if you...

I learned luxury isn't always what they make it out to be. Every new co-op conversion in the 80's-90s was a 'luxury building' as posted on a white aluminum side nailed to the building. Similarly I learned that a 'five-star' hotel as posted by Liberty travel circa the 80s, had nothing to do...

It's interesting that buyers tend to absolutely lose their minds in a hot market. Making very aggressive offers, waving all sorts of contingencies, etc. Real estate markets won't effectively go to zero. So if you're an individual that has decided you prefer home ownership over renting, why not...

We're not waiting, we're listing everything now that we're getting. The two bedrooms we have under 1.5 including the newest at 171 Greene (40+ appointments booked, sunday/tuesday). Over 60 showings at 382 2nd Street best and final tonight. Contract signed on our second unit at 135 Eastern...