Greetings!
 Hello. Welcome to the email version of my Real Estate Newsletter. I will do my best to make it informative and fun. Please feel free to give me feedback, or requests for future articles.
There is a lot going on in the real estate world, and I hope to be able to help you separate the hype from the truth.
Sincerely,
Louis Snitkin
Bellmarc Realty
(212) 688-8530 x294
(914) 589-2394 Cell
|
"The Perfect Storm"
Is it Really the Best Time to Buy?
This is a question that I'm asked almost every day. Many people are "waiting for the bottom," and are frozen by the uncertainties of the real estate market. One thing is for certain: By the time you realize that the market has bottomed out, it will already be on the way up. Otherwise, how will you know that it was actually "the bottom?" The news media will eventually declare that the market is recovering, but it will probably happen two or three months after there is positive data. The renewed competition for apartments will certainly reduce the amount of negotiability in the sellers' minds. A better strategy would be to buy near the bottom, and take advantage of the bounce. Let me find that perfect home for you now, and negotiate the absolute best deal.
"The Perfect Storm"
I've seen almost every type of market imaginable; from high interest rates, inflation, and lots of inventory, to low interest rates, with bidding wars due to a lack of inventory. I've never seen the opportunistic conditions we're experiencing right now:
* Interest rates are hovering at around 5%
* The number of apartments for sale in Manhattan have been increasing by 300 +/- every week
* Sellers are coming to realize that they will have to negotiate to sell their apartments
* Brokers have been able to negotiate concessions with developers, making new developments more attractive to their customers
The perfect conditions are now in place to buy much more than you could have as recently as one year ago. First time buyers are taking advantage of this once-in-a-lifetime opportunity to own instead of rent.
What are you waiting for? Call me now!
|
End of the Building Boom
It's almost a foregone conclusion that 2008 will be remembered as the end of New York's recent development boom. Despite the recession, development increased in New York City last year; particularly in the first half of the year. There was a 30% increase in the number of units approved for construction citywide compared to 2007, according to the Census Bureau. All of this new building occurred despite an increase in construction costs of 37%.
In fact, in October the New York Building Congress estimated that construction in the city would set a record in 2008, and decline in 2009 & beyond. Many builders rushed to begin projects before the city enacted changes to the 421-a tax abatement program for new developments at the end of June.
The rush to build occurred before the series of financial crises that began in September. Consequently, most of them spent money, they're "in the ground," and they don't have construction loans to finish the projects. The drop-off in building was evident by the end of September, when only three new building permit applications were filed for Manhattan construction.
The likely result of the drop-off in construction will be a shortage of inventory when the economy stabilizes & turns around. The cost of stabilizing the economy will be inflation. Manhattan Real Estate remains the best hedge against inflation. Call me now to plan for the future!
|
|
Private High Schools Multiply Posh Greenwich Village High School, which boasts industry bigwigs like Graydon Carter of Vanity Fair on its advisory board, will make its splashy debut in September.
But it won't be the only new private school in town this fall-Claremont Preparatory High School and Aaron Academy, both owned by MetSchools Inc., will also open their doors.
Despite the Wall Street layoffs and rumors that cash-strapped families are yanking kids out of expensive private schools, Greenwich, Claremont Preparatory and Aaron Academy are on track with ambitious plans to offer New York area parents new alternatives to the city's network of about 100 private high schools. These schools expect to beat the odds and prove that education, even with a hefty price tag, is recession-proof.
Each of these schools says it fills a void. Greenwich, which will cost families $31,500 a year, promises to offer a progressive and innovative learning environment for lower Manhattan families. Claremont, which also charges $31,500, will be meeting the need for private schools in the financial district, where more families have recently migrated. Its focus on technology and new media will differentiate it from rivals, says Judith Sheridan, Claremont's high school director. The priciest of the three, Aaron Academy at $45,500 a year, is for teens with learning disabilities. The city has been lacking in special education schools for years.
|
|
I APPRECIATE YOUR FEEDBACK. PLEASE LET ME KNOW HOW I CAN IMPROVE MY SERVICES.
|
|
About Bellmarc Realty
Thank your customer, tell them how valuable they are to you, but don't go overboard. Insincerity is easy to spot.
681 Lexington Avenue
New York, New York 10022
Bellmarc Realty
|
|
|
Layered Black Bean Salad |
|
Ingredients
2 tablespoons olive oil
6 tablespoons fresh lemon or lime juice
3 tablespoons rice wine vinegar
1 tablespoon Dijon mustard
Fresh ground pepper
12 cups baby spinach leaves, stems removed, loosely packed
3 cups cherry or grape tomatoes
1 medium yellow bell pepper, seeded, cut into quarters, and sliced thin
1 medium red bell pepper, seeded, cut into quarters, and sliced thin
Two 15-ounce cans low-sodium or no-salt black beans (drained and rinsed)
4 ounces shredded reduced-fat sharp cheddar cheese
1 medium avocado, peeled, pitted, and sliced into 1/2-inch pieces
Preparation
1. To make the dressing, in a small bowl whisk together olive oil, lemon or lime juice, vinegar, mustard, and pepper. Set aside.
2. In a deep, clear, glass bowl, layer the salad as follows: 6 cups spinach leaves, 1 1/2 cups tomatoes, 1/2 yellow bell pepper, 1/2 red bell pepper, 1 cup beans, 1/2 cup cheese. Repeat the layers. Top the salad with avocado. To serve, pass salad around table followed by the dressing. Serves 6.
|
| Murray Hill Gem |
Warm and Wonderful Home!
Feel at home in this spacious apartment where the two bedrooms, two bathrooms, and SEVEN closets help to make city living a joy. Spacious and warm, this full two bedroom is value priced and a must see!
The well maintained full-service doorman building is located in the prime Murray Hill area. Close to Grand Central Station, subways and buses, and convenient to shopping and restaurants galore.
Call me to see your new home! |
| Turtle Bay Loft |
 Dramatic 13 foot ceilings and a wall of oversized windows give a spacious feel to this wonderful loft apartment. The full height sleep loft with storage area accommodates a queen sized bed, and there is ample closet/storage throughout. This downtown-like loft is in a luxurious full-service prewar building featuring 24 hour doorman/concierge, roof deck, garage, laundry room on your floor, storage and bike room.
NO BOARD APPROVAL is required in this Condop building that allows 90% financing. Pets are welcome, as are pied-a-terre, parents buying for children, investors, and guarantors. The chic Turtle Bay area offers many restaurants, quick access to Grand Central Terminal, all transportation, Greenmarket, parks, and shopping. |
|
RESULTS |
|
Fancy presentations are nice, but what you really want when you sell your apartment is RESULTS. In the midst of all the doom-and-gloom in the market, I've been busy putting deals into contract.
My entire career has been based on a simple premise:
Be fair and honest in my business dealings, and intelligently work my tail off to do the best job possible.
Many people choose their real estate broker for the wrong reasons. Or they devote their precious time to selling or searching on their own, instead of hiring a professional.
ü Take advantage of my 30+ years of sales and marketing experience for a customized and unique program tailored for your property.
ü I have successfully negotiated many multi-million dollar deals, always keeping in mind that it's my clients' money that's at stake.
ü After a sale is negotiated, the real work begins. I will efficiently manage your transaction, addressing every detail in a timely fashion.
ü You can benefit from the flexibility & value in a personalized strategic plan and fee structure for the sale and/or purchase of an apartment.
So, let me show you how I get results! Please contact me with any questions, or if you would like to discuss your real estate needs.
| |
