We all talk about home prices, price per square foot, record prices, comparable prices, etc. Professional real estate on-line platforms make it easy to compare prices and come up with beautiful printed CMA (Comparative Market Analysis) documents that can be given to clients. Zillow, a leading consumer real estate publishes “Zestimates,” its own (comparable-prices based) … Continue reading Home Prices Don’t Tell You Nearly as Much as You May Think
Lowball offers, those that are way below asking price, are obviously tempting: Why not take as big a head start as possible in the negotiating process and wind up with the lowest possible purchase price! But they can also be dangerous in that they arguably set an amateurish tone for the negotiation and could lead … Continue reading Anatomy of a Lowball Offer
Have you ever wondered how so many young renters can afford to pay Manhattan prices? Streeteasy pegged the median monthly asking rent for a one bedroom in Manhattan at $3,195 as of 11/1/16. They’d have to have really good jobs because ltandlords typically require annual salaries of 40 (or more) times the monthly rent. When … Continue reading Scaling the Not-So-Great Walls of Manhattan
It’s no secret that prices of real estate in Flushing Queens have been sizzling. To get an idea of how hot it’s been, consider that 2- to 5-family homes on the market are now being priced, on average, at 26.2 times annual rentals and, are you ready for this, a pro forma cash-on-cash return of … Continue reading China Versus Real Estate Investors
NYC Real Estate Values 