Owner: New York City Real Estate Blog URL:http://www.elikaassociates.com/blog Join Date: Sat, 26 Jul 2008 20:45:37 -0500 Rating:0 Site Description: A forum for buyers to keep up to date on the latest real estate news and analysis. Elika Associates is the premier buyer’s broker for New York City luxury homes. Site statistics:Click here
Drop Off in New Offering Plans Less than Expected 2008-07-25 08:29:53 The number of new offering plans for new apartments in New York City has slowed for the first time in almost ten years.
Analysts are seeing the decline as more than just a confirmation of the current slowdown, however. The 2nd quarter numbers from the US census bureau showed a 46% drop in building permits [...] Read more:Expected
The Russians are Coming! 2008-07-21 11:42:37 As the dollar continues to fare poorly, it’s no secret that foreign buyers are making up a larger and larger portion of demand in New York City’s Real Estate market.
This is especially true in the luxury market, which has seen a huge influx of capital from some of the world’s most wealthy and powerful high [...] Read more:Russians
Real Estate vs Stock Market 2008-07-16 15:44:58 For all the incredible trouble recently inflicted on the national real estate market, the ten year return on real estate is still much, much higher than the nations traditional venue for investment: The stock market.
As of June 30 of this year, the ten year return on the S&P has dipped into negative territory. With the [...] Read more:Estate
, Market
, Real Estate
, Stock
, Stock Market
A Guide to Buying a Home 2008-07-13 13:28:43 With the New York apartment market finally becoming more of a buyer’s market, the importance of negotiation and other details of the buying process are starting to have a greater impact on the final sales contracts.
So, even if you are not sure if you want to buy a home right now or not, it may [...] Read more:Guide
, Buying
Economic Recession Looms Over Resilient New York Real Estate Market 2008-07-11 08:49:24 With the big questions for now answered by the release of the numbers from the second quarter, real estate market experts are again turning their attention to the latest macroeconomic data.
The most important numbers to come out recently were from last week’s employment report, and the situation on that front does not look particularly [...] Read more:Estate
, Market
, Economic
, Recession
2Q Manhattan Numbers Tell Fascinating Story 2008-07-04 08:00:41 The long awaited second quarter numbers are finally in, and the data tells a engrossing tale about the current state of New York City real estate. In particular, Prudential Douglas Ellimen’s new report is a veritable treasure trove of information on the market, full of the most important data that the market will see for [...] Read more:Manhattan
, Numbers
King Manhattan 2008-06-29 17:04:12 Manhattan is still the leading market to invest in, according to a number of real estate experts. While sales have declined somewhat in the past several months, the long-term value of the market appears solid. Perhaps more importantly, for those looking for a place to live in the near future, mortgages are still readily available [...] Read more:Manhattan
Barron’s Expects 2nd Qtr Numbers to be Stronger than 1st 2008-06-22 20:02:07 The 2nd quarter numbers are just weeks away and as analysts begin making predictions, Barron
’s has come out with a bold statement that median home prices in New York City will grow by an even greater amount than in the first quarter.
Many were surprised by the strength of the beginning quarter of the year. In [...] Read more:Numbers
Future Changes in 421-a Already Greatly Effecting Market 2008-06-16 20:06:46 As the sunsetting of the 421-a tax exemption for developers looms, some interesting things are happening to the New York real estate market. Most notably, Manhattan, during the first four months of 2008, saw [...] Read more:Market
, Future
Sovereign Wealth Funds Move into Real Estate, Lifting Demand 2008-08-01 16:21:00 As the influence of sovereign wealth funds (SWFs) grows, the consequences of their rise are just beginning to be studied. A number of studies have found that, save for a predisposition to invest in their home countries, SWFs show no major signs of non-profit driven motives.
A number of exceptionally high profile purchases by newly [...] Read more:Wealth
, Funds
, Estate
, Lifting
The Low Dollar and New York City 2008-08-01 08:38:58 With the dollar getting weaker and that factor playing a larger and larger role in our national economy and the local real estate market, now seems like a good time to look at the role the low dollar plays in our economy and the real estate market in general.
One thing is not debatable: The [...] Read more:Dollar
, New York
The New Law 2008-07-31 09:26:28 The new housing bill is the most important piece of legislation effecting domestic affairs to come out of congress in some time now. President Bush signed it into law just yesterday. Its details will effect the national real estate market in a powerful way. So, what are the main features of the [...]
New York City Tops List of Most Expensive Cities 2008-07-27 09:30:51 A new study has come out ranking how expensive life is in about 250 American cities. The top of the list contains few surprises, at least for residents of New York
City. The Big Apple is home to some big cheeses, apparently, because it is easily the most expensive city for Americans to [...] Read more:New York City
, Cities
As the Real Estate Market Tightens, Dynamics Change 2008-08-22 16:26:00 As the market has been transitioning from a strong seller’s market to a strong buyer’s market, the sales dynamics have been changing in a number of different ways. The changes go far beyond just longer or shorter wait times, or more or less bargaining power. Instead, the shifts in the market have rippled [...] Read more:Estate
, Market
, Dynamics
, Change
Greenspan Argues A Nationalization of Freddie & Fannie Would Have Been Better 2008-08-17 09:09:10 Alan Greenspan
has spoken out in another prominent interview, airing opinions that, despite his retired and partially discredited status, continue to shape and cement market expectations.
The maestro of the housing bubble opined that the subprime crisis should play itself out and national housing prices should “start to stabilize, or touch bottom, sometime in the first [...] Read more:Freddie
US Dollar Strengthens, Leading Wall Street to Reexamine its Predictions. 2008-08-15 09:29:01 Over the past decade, changes in the US dollar have been one of the central storylines of the evolving global economy. The same is true for the New York Real Estate market. As the US government unofficially abandoned its increasingly untenable strong dollar policy at the beginning of the decade, foreign demand for US real [...] Read more:Dollar
, Leading
, Street
, Predictions
A Tale of Two Luxury Markets 2008-08-13 09:28:10 With all the turmoil in the financial markets recently, it’s not surprising that the value of luxury homes in the tri-state area has been reduced in recent months.
Connecticut is a good example. It is the wealthiest state in the union, per capita. Yet the average home value is over 30% off of its recent [...] Read more:Luxury
, Markets
Of New York City Co-ops and Condos 2008-09-12 08:26:08 Consumers looking to purchase a home in New York
City face a choice that those interested in other real estate markets don’t have to consider: Condos or Co-ops?
Each choice offers its pluses and minuses, but many new to the city’s real estate market often ask themselves, “Why on earth do co-ops even still exist?” Those [...] Read more:New York City
Real Estate Agent Anecdotes Suggest Strong Summer 2008-09-09 14:48:20 There has been little doubt recently that the real estate market here in New York City has been slowing down recently. Inventory is up, and sales are down. While average prices have remained strong, it is clear that the days of the superman-like invulnerability in the market is a thing of the past.
If a [...] Read more:Agent
, Estate
, Strong
, Summer
, Real Estate
, Real Estate Agent
Attention Turns to Condo Over-Supply 2008-09-03 17:34:00 Nationally, there are two major stories effecting the real estate market right now. Three, if you count the general economic malaise. But two stories specific to the real estate industry. Of course, the subprime crisis is still the most important story out there. Business writers have practically worn down the s, u, b, p, r, [...] Read more:Condo
, Supply
Rumors of Weak 3rd Quarter Numbers Abound 2008-08-31 22:46:19 The last quarterly report was disconcerting. The fall in sales activity and significant uptick in the inventory numbers worried many in the industry. Average prices, however, continued to rise. The old belief held by many businessmen that it is impossible to lose money in the long run if you invest in Manhattan real estate seemed [...] Read more:Numbers
New Report Shows Positive Signs for Manhattan Luxury Market 2008-08-27 18:17:32 Stribling Brokerage released their twice-a-year Luxury
Report recently, and several of its findings reinforce the perception that the Manhattan
Luxury real estate market has not been at all fazed by the recent downturn in the national economy.
Even in the face of large job losses in one of the market’s largest sources of demand, the [...] Read more:Market
, Positive
A Breakdown of Changing Market Conditions in Manhattan 2008-10-07 08:55:31 It’s widely agreed upon that the sale of Bear Stearns was the pivotal transition moment in the New York City Real Estate market. Over the previous six months or so, things had been gradually shifting away from the strong seller’s market mentality that had pervaded Manhattan
and New York City as a whole.
Even immediately [...] Read more:Changing
, Market
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