May
29
2015

DEAL SHEET Week Ending May 29th

Welcome to The Deal Sheet: A Witty Weekly Wrap Up of New York Real Estate Trends, Topics and Tidbits

 

JERSEY STRONG

According to a recent industry report, home sales in the Garden State are up significantly from last year, as well as an increase in listings, which are also raising prices, but at a reasonable rate. Real estate professionals agree that the strong market activity is on par with pre-2008 levels.

THE DEAL: Although the Jersey market is up overall, certain pockets and higher-end properties are experiencing higher levels of activity, keeping the upswing in certain counties while other areas lag.

May
13
2015

DEAL SHEET Week Ending May 15th

Welcome to The Deal Sheet: A Witty Weekly Wrap Up of New York Real Estate Trends, Topics and Tidbits

 

SECOND WAVE of CHINA

investment apartmentsAs the Chinese government cracks down on corruption, foreign real estate dollars coming out of China are from smaller, second-tier cities and traditional buyers who negotiate longer. As discussed at a recent industry panel on foreign investment in NYC, experts predict these new buyers are a different type of investor.

THE DEAL: The new wave of Chinese investor in NYC real estate is no longer looking for only luxury residences for their children to study in America but rather commercial, institutional interests with long-term, revenue generating opportunities.

May
8
2015

DEAL SHEET Week ending May 8th

Welcome to The Deal Sheet: A Witty Weekly Wrap Up of New York Real Estate Trends, Topics and Tidbits

NYC MAYOR’s REAL, REAL ESTATE PLAN

deblasio overhaulMayor de Blasio has promised to build or preserve 200,000 affordable housing units over the next decade. In order to do so, his plan calls for a complete overhaul of NYC’s housing programs and tax incentives that have been in effect for years, which would also include requiring developers to build 25-30 percent affordable units in order to qualify for tax breaks.

THE DEAL: Although his ambitious plan shakes up decades-old legislation and includes a mansion tax that is raising highbrow eyebrows, the Mayor has won the support of the Real Estate Board of New York, which may also give the administration leverage with both the Republican-dominated Senate and the governor.

 

LOCATION, LOCATION, LOCATION

May
1
2015

DEAL SHEET Week Ending May 1st

Welcome to The Deal Sheet: A Witty Weekly Wrap Up of New York Real Estate Trends, Topics and Tidbits

 

SLOW GO KEEPS RATES STAUS QUO

Economic GrowthThe Federal Reserve has been hinting that they believe the US economy is strong enough to start raising interest rates possibly as early as June. However, the US economic growth nearly stalled in the first quarter, making economists wonder if in fact rates will increase so soon.

THE DEAL: While there are signs that the economy is nearly rebounded, the recovery is the slowest in history. The sluggish growth and current stagnate economy has experts thinking the interest rate increase might not happen as soon as it was expected.

April
24
2015

DEAL SHEET Week Ending April 24th

Welcome to The Deal Sheet: A Witty Weekly Wrap Up of New York Real Estate Trends, Topics and Tidbits

LEGAL REBATES

A recent change to New York’s Real Property Law allows real estate brokers to rebate a portion of their commission to clients.

THE DEAL: The newly amended language makes it clear that a buyer’s agent is legally allowed to give back a portion of their commission from the seller or seller’s agent to their client, which in essence is a legit way to discount their services.

 

April
17
2015

DEAL SHEET Week Ending April 18th

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PROPERTY TAX REBATES

NYC Council is considering property tax rebates for homeowners up to $500 for family incomes of less than $100,000 and plan to push the rebate legislation in budget negotiations with the Mayor.

THE DEAL: The city hasn’t extended property tax rebates since the finical crisis hit in 2009. The current proposal will cost the city approximately $200 million and is being sponsored by council members who believe the city’s finances can afford to help NYC’s middle class homeowners.

 

RETAILER TURNS LANDLORD

April
9
2015

DEAL SHEET Week Ending April 10th

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HGTV HIT COMES TO TRISTATE
property brothers

Hugely popular Canadian-based reality series Property Brothers, that showcases fixer upper transformations, is shooting its fifth season in the NYC tristate area. The show features identical twins Drew (realtor) and Jonathan (contractor) Scott who help endearing couples find, buy and transform fixer-uppers into budget-savvy dream homes.

THE DEAL: This HGTV reality hit will spotlight homes in the lower Hudson Valley region and Connecticut area that range from $1 million to $1.3 million with second-tier properties priced between $400,00 and $600,000. The show’s producers were impressed with the NYC’s area’s “wide variety of stunning dream homes and inspirational fixer-uppers.”

April
2
2015

DEAL SHEET Week Ending April 3rd

Welcome to The Deal Sheet: A Witty Weekly Wrap Up of New York Real Estate Trends, Topics and Tidbits

 

THE NEXT NEW “JOINT” to HIT NYC

Move over NYC startup tech companies. There may soon be a new industry coming to the NYC real estate market looking for large commercial space, just as soon as marijuana is legalized.

THE DEAL: Companies that have legal weed dispensaries in states such as Nevada and California are eyeing NYC as an outlet for retail spaces and growth sites. Although the state is not yet accepting applications, some marijuana producers see great “growth” potential in the NYC area and are “weeding” through commercial spaces. Pun intended.

 

KA-BOOM

March
26
2015

DEAL SHEET Week Ending March 27th

Welcome to The Deal Sheet: A Witty Weekly Wrap Up of New York Real Estate Trends, Topics and Tidbits

 

RE TECH SCENE

Kushner TheRealDealWhile it seems the real estate tech startup business is hotter than Paris Fashion Week, new players enter the market on a regular basis. With applications ranging from software to data to listing sites and crowdfunding, NYC is the gracious host to a plethora of newbies changing the real estate landscape. The most recent launch of the Kushner Brothers’ Cadre, a real estate investment vehicle that connects institutional investors with opportunities in gateway markets, is evidence that some of New York’s biggest real estate players are taking the space by storm.

THE DEAL: As new real estate tech startups enter the space almost weekly, the industry and the way it does business is evolving at a record-breaking pace.

March
20
2015

DEAL SHEET Week Ending March 20

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NO LONGER PATIENT DOESN’T MEAN IMPATIENT. HUH?!

The Federal Reserve this week hinted in a policy statement that interest rates that have been at record lows for more than six years may see a gradual increase as early as June. But don’t get crazy. The job market needs to improve and inflation needs to rise before the Feds will consider nudging up borrowing rates. According to Fed Chairwoman Yellen, “Just because we removed the word patient doesn’t mean we are going to be impatient.”

THE DEAL: By even suggesting that rates could possibly increase for the first time since the financial crisis is a subtle hint that the U.S. economy is looking better to the Feds. But they are not making any promises. The mixed signal message caused stock prices to jump. Go figure.