As a real estate attorney in the New York metro area, I make a living helping families, individuals, buyers, sellers, investors and developers realize their real estate objectives. In doing so, oftentimes these same clients decide to protect these real estate assets and other personal wealth by creating an estate plan, which is an extremely effective and proactive strategy. However, it is not only in times of prosperity when one should consider carefully creating a long-term financial plan and living will.
With Memorial Day weekend just a few short weeks away, the BBQs are heating up along with real estate activity at the shore. Married to a self-proclaimed Jersey Girl and a beach lover myself, our summer at the Jersey Shore begins with a margarita and a weekend at the beach. But as a New Jersey real estate attorney, this time of year also kicks off an annual look at the market to see the difference a year makes.
This past weekend the New York Times’ front-page article of the Real Estate section chronicled some colorful and realistic true stories of real estate closings gone awry. In comparing highly volatile closings to the Wild West, the article’s author shares numerous examples of horrific scenarios that make for lively cocktail conversation.
In an age when everyone from celebrities to my kids’ teachers are tweeting and posting and Facebooking and IMing, I have to admit I am behind the technology curve. And yet, I’ve always considered myself a gadget guy with the latest and greatest tech toys. However, while I was once my family’s go-to source for anything digital and electronic, I am finding that my wife and I are more and more turning to our 8-year old for help with everything from itunes and ipads to Facebook and Twitter. And that’s just my personal tech needs.
Professionally, the legal industry is trying to keep up with social media outlets and tech applications to service high-speed clientele, but not nearly as much as the real estate industry. Real estate professionals seem to truly embrace every new app or interface that hits the virtual world by getting in on the action to market and sell properties faster than you can say Google.
My wife has made a career of working without getting paid. She continually dives in to every volunteer opportunity that comes her way and has not learned the art of saying no. Most recently, she was involved in an event at our daughter’s middle school called Living Lessons, in which everyday heroes and inspirational figures from around the world came to share their stories with the students.
When two unrelated big-ticket, celebrity-smelling contracts on properties in Brooklyn make headlines in one week, it seems as though there is a trend brewing. And with similar movement and media coverage on Harlem, one might think there’s more to it.
By all accounts to-date, it looks as though March has come in, and will go out, like a lamb and with the passing of the official first day of Spring, what is usually the busiest season in the housing market is upon us. In anticipation of a market surge in the weeks to come, professionals in the real estate industry are standing by for what we all hope will be a season filled with signs of recovery.
I will admit, for a self-proclaimed movie buff, I am way behind in the film department. In fact, not only did I not see any of the award-winning films this year, I am just catching up on 2011 nominees. Speaking of which, I just watched and truly enjoyed the Tom Hanks’ production Larry Crowne over the weekend. I found this simple film about a very average Joe who rediscovers himself very heart-warming and touching.
International headlines this week report protests and revolt among the Russian middle-class as a political boondoggle seems to be unfolding as Vladimir Putin wins a disputed and questionable presidential election.
As a first-generation Russian-immigrant, I am mildly interested in the political arena of my former homeland. However, as a real estate attorney who has been observing a significant increase in real estate investments by foreign buyers, I am watching Putin’s economic policy closely.