Undeniably, waterfront properties usually top the list of dream homes as millions of homeowners usually desire a little slice of heaven in the form of water views and ocean or lakefront lifestyles. However, the appeal and allure of waterfront living comes with an expensive price tag. High demand and limited supply as well as added insurance, floods, environmental mitigation and infrastructure costs, makes waterfront living not only expensive and highly coveted but also a delicate balance of pleasure and practicality.
As beach-goers head back to work and school children go back to school this week, one particular seaside community will be saying goodbye not just to summer, but to an end of an era. By the end of September, Atlantic City will close the doors on four casinos: The Atlantic Club, which closed earlier this year; themed-legend Showboat; newcomer Revel; and finally, Trump Plaza. By the time the four casinos are closed, several thousand workers will have lost their jobs and the city will no longer be the premier gambling destination east of Las Vegas. These closings have many in the real estate community speculating what will become of the city’s casino-dependent economy and its effect on the local real estate market.
In today’s tech world, there seems to be an app on every Smartphone that can basically make any decision, chore, errand, problem, idea or thought into an instant reality at the literal press of a button.
As a New York real estate attorney who has been practicing for nearly 20 years, I have especially been fascinated with how the real estate industry has responded to the evolution of technology in the marketplace. Of course there is an app for home buyers who are shopping for a property or looking to secure a mortgage. And finding the perfect rental apartment in New York City has never been easier thanks to revolutionary brokerages such as Urban Compass that makes pounding the pavement an extinct art.
This time of year is a coming of age for thousands of college graduates across the country as inspirational commencement speeches are given, degrees are bestowed and the newly anointed embark on the exciting road of independence ahead. However, as college graduates leave the security of campus life for the real world today, many face unemployment and skyrocketing rents.
As a New York real estate attorney who graduated law school at a time when the economy was good and the job market was robust, I admire the tenacity and
In the wake of the Hurricane Sandy aftermath last summer, the real estate market and business in general at the Jersey shore was hardly a day at the beach. Sales, rentals and tourism was down while boardwalks, coastlines and businesses were being rebuilt. Summer 2014, however, is showing signs of a very different landscape….literally.
As homeowners in beachside communities such as Ortley Beach and Lavalette rebuild their properties, they are planning elevated, spacious sandcastles in the sky to replace their seaside bungalows from pre-Sandy. And lowered post-storm prices are enabling new buyers who previously couldn’t afford a second-home at the shore, to enter the market.
In the award-nominated film Her, actor Joaquin Phoenix is a lonely writer who develops a relationship with his new operating system that is designed to meet his every need. Perhaps once considered a fantasy, the reality of a relationship between humans and technology, may not be as far-fetched or Hollywood as one might think.
A frequently asked question many clients have as they foray into the real estate market as buyer or seller; investor or home shopper, is whether or not it is the right time. And for that, the only clear answer is whether or not it is the right time for that particular client.
The trends vary from market to market, so if you follow national headlines, you may find conflicting reports of inventory levels, mortgage rates and home prices. Real estate market predictions and forecasts are reported from many different perspectives and analyzed in various ways. Only interpret the data that is relevant to your market and your needs.
As we in the New York tri-state area prepare for yet another winter snowstorm, it seems like the hot lazy days of summer are desperately far away. But as we dream of sun and sand, the local real estate markets in the Hamptons and at the Jersey Shore are heating up despite the current forecast.
In fact, the New York Times recently reported that the Hamptons luxury market (is there any other market in the Hamptons?!) is not only hot, but new construction is in demand. And not only for buyers but renters from Westhampton to Montauk desire brand-new, amenity-rich, properties.
With a new year upon us, industry reports are touting year-end trends that deserve some thought. For example, a recent study by Realty Trac reports that the number of foreclosure filings in 2013 dropped 26 percent from 2012, to reach the lowest annual total since the massive foreclosure crisis that the country experienced over the past eight years since the housing price bubble burst.
As 2013 draws to a close and Ryan Seacrest prepares to welcome the new year in Times Square with more than a million people, as a New York-metro lawyer, I like to reflect on the biggest industry trends and moments of the past year. For me, these are the stories that defined 2013 in real estate this year:
New Development – Brand new ultra-luxury condominiums designed for the uber-rich surged 20 percent in 2013 with prices surpassing pre-recession numbers.