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Friday, October 23rd, 2020

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Posted by: | Posted on: October 23, 2020

Howard Hughes Corp. Unveils $1.4B Plan for Lower Manhattan’s Seaport

The Howard Hughes Corp. has unveiled a transformational plan to revitalize Lower Manhattan’s Seaport. The $1.4 billion proposal will bring a mixed-income development and the area’s first affordable housing units to the market in decades. The project is located on a full-city block surface parking lot at 250 Water Street in the South Street Seaport Historic District area.

The affordable housing component is essential to Howard Hughes’ proposal. In the district, the median household income is $150,000, and 2.5% of housing in the area qualifies as affordable housing. The project totals 360 housing units, and 100 unit are reserved for affordable housing—25% of the total project. These are the first new affordable housing units to the area in decades, and they will be made available to families making 40% of the median area income. The remaining 260 units will be for-sale condominiums.

Architecture firm Skidmore, Owings & Merrill designed the

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Posted by: | Posted on: October 23, 2020

Is Capital Following People to Sunbelt?

“We’re seeing actual population shifts,” William Spransy, CFO of North Carolina-based Eller Capital, tells GlobeSt.com. “I believe demand is still extremely strong in the Carolinas as the pandemic has only accelerated the trend of migration out of the more densely populated areas to lower cost and lower density regions of the Southeast.” 

As people move, Spransy thinks capital flows will follow. But that isn’t the only reason he’s optimistic about investment in the Sunbelt. 

“The [the COVID migration] is obviously accelerating capital flows,” Spransy says. “In New York City, there are a number of regulatory issues and lower growth prospects.”

Spransy says new groups are coming into the region from the northeast and California. He is fielding calls from people interested in buying properties and even more groups are interested in investing in his deals. “There has been a massive amount of interest in the Sunbelt,” he says. “It’s been

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Posted by: | Posted on: October 23, 2020

Apple Expands Express Store Concept

Express stores will have a wall built in front of its store with sales counters protected by plexiglass.


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Posted by: | Posted on: October 23, 2020

Slap Shot! Connecticut Compound With Hockey Rink Is the Week’s Most Popular Home

It’s an NHL fantasy camp come to life. You can work on your slap shot without ever setting foot outside your property!

A Connecticut compound with a hockey rink skated away with the title of most popular property on realtor.com® this week.

On the market for a little over a month, the one-of-a-kind offering continued to gather up clicks from folks who dream of putting on a power play in the privacy of their own home.

The professional-grade hockey rink even comes complete with its own Zamboni. The property also boasts two guesthouses and a pool, for those who aren’t interested in lacing up the skates.

However, it’s the building built for hard-checking action that makes this a can’t-miss home.

Outside the rink, you took the time to click on a few other extreme homes this week. Interest in a massive 8,400-square-foot barndominium in Iowa spiked, as did clicks for

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Posted by: | Posted on: October 23, 2020

Existing-Home Sales Soared in September—7 in 10 Homes Sold in Less Than a Month

The numbers: Existing-home sales increased for the fourth consecutive month in September, as the U.S. housing market benefitted from low interest rates.

Total existing-home sales rose 9.4% from August to a seasonally-adjusted, annual rate of 6.54 million, the National Association of Realtors reported Thursday. Compared with a year ago, home sales were up nearly 21%.

“Home sales traditionally taper off toward the end of the year, but in September they surged beyond what we normally see during this season,” Lawrence Yun, the trade group’s chief economist, said in the report. “I would attribute this jump to record-low interest rates and an abundance of buyers in the marketplace, including buyers of vacation homes given the greater flexibility to work from home.”

Economists polled by MarketWatch had projected existing-home sales to rise to a median rate of 6.36 million.

What happened: The fast pace of home sales has quickly dwindled the

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