 Testimonial of the Month
Matthew Finlason
Star of the HGTV series,
"The Stagers"
"Why Donna Dazzo stands out to me is that she has a creative aesthetic that is very obvious in her work. Her stages have character because she is not afraid to get specific or loud with her installations and her furniture arrangements never subscribe to the obvious."
|
Apartment Transformed
We were asked by the DeNiro Group of Prudential Douglas Elliman to stage their new listing around the corner from their office in the West Village.
The empty modern space needed to be warmed up and made appealing to the target buyer, mostly likely a young, single male working in the Financial District.
So we decided to use earthy colors of brown, green and orange in the living/dining room and master bedroom, with wall art of photographs of natural elements. In the offfice/2nd bedroom and bathrooms we used black and white with some blue accents to play off the turquoise blue glass "walls".
"Raphael and I walked over to see the apartment and you did an amazing job. It looks fantastic! We are very, very, very happy. It looks great. Thank you so much! Prudential Douglas Elliman New York, New York
|
Market Overview: New York, NY
According to Corcoran's January 2011 Report: "The new year started strong with substantial increases in pricing January's price per square foot is the highest it has been since October 2008". Market Wide: There are 8,845 units currently listed on the market. Absorption of new listings has remained relatively even since the summer. The number of new listings doubled since December, however this is typical at the beginning of the year. The following is a comparison of January 2011 vs. January 2010: Condos: - The median sale price of $1,368,750 represents an increase of 42%
- The average price per square foot of $1,438 is a 16% increase
- Discount from last ask to sale decreased 19%
- However, days on the market increased 8% to 260
- Listed inventory decreased 4% to 3,968
Co-ops: - The median sale price of $710,000 represents a 17% increase from January 2010
- The average price per square foot of $898 is up 3%
- Discount from last ask to sale decreased 20%
- Days on the market also decreased 10%
- However, listed Inventory increased by 17%
|
|
Tips and Tricks of the Trade
Recently I attended a Color and Lighting seminar for the trade at the Benjamin Moore showroom here in New York City.
The two speakers were a Color Engineer and the Associate Manager of Color Design.
Here are some interesting tips I learned from their presentations:
- When choosing a color, paint a small swatch against a gray surface.
- Look at a color vertically against the wall, not horizontally in your hand.
- Two colors that may appear to match in one light source may not match under another light source. This is known as metamerism.
- Look for a Light Reflective Value (LRV) of 50% or more in paint to be used for residential interiors. LRV is the amount of light reflected from a painted surface (0% is the blackes black and 100% is the whitest white). The LRV for Benjamin Moore paint colors is listed in the index at the back of the Benjamin Moore "fan decks" (available through your paint store or design professional).
- When choosing a light bulb, try to get a Color Ranking Index (CRI) of 80% to 85% in order to show true and satured colors.
- Incandescent light bulbs have a CRI of 100% but unfortunately will be phased out of production by 2014.
- Halogen light bulbs have the next highest CRI but they too will probably go the way of incandescent bulbs.
- Compact Fluourescent Light (CFL) bulbs have a lower quality of CRI - 75%.
- LEDs are the newest form of lighting but have a very low CRI. However, they are great for outdoor lighting.
|
 Did you know.... - 15% of potential buyers in the U.S. access property listings via mobile devices, and that number is expected to double in 2011?
- 90% of real estate websites don't work on mobile devices?
- 74% of U.S. buyers use the internet as part of their search for a home?
- The average size of U.S. homes in 2007 was 2,521 square feet, in 2008 dropped to 2,377 square feet and is projected to drop again in 2015 to 2,152 square feet?
Source: The Real Deal Data Book 2011 |
Market Overview: The East End
Comparison of January 2011 vs Year 2010 by Town
(monthly figures have been annualized)
East Hampton Town:
- The median sales price decreased 3.7% to $910,000
- The number of sales decreased 23% to 432
- The dollar volume of sales decreased 33% to $647 million
Southampton Town:
- The median sales price increased 24% to $994,000
- The number of sales increased 9% to 1,140
- The dollar volume of sales increased 46% to $2.333 billion
Southold Town:
- The median sales price decreased 2.5% to $429,000
- The number of sales decreased 9% to 288
- The dollar volume of sales increased 11% to $212 million
|
