Weekend Review-Required Summer Reading!

A lot in the news the last few days, and sadly none of it too uplifting.  The following is a collection of articles worth checking out.  From Rubles to Recession and a 100 million dollar listing to a “zero” one, read up and, check them out!
Congress Versus Homeowners in Foreclosure?
Could a dysfunctional Congress totally [...]

Selling Stats for the Weeks 6/27/2008-7/18/2008

Average Sales Price     $1.625M          
Median Sales Price      $995K      
                 
%Discount from Last Asking Price          3.00%
%Discount From Original Asking Price            6.00%
      Range      
Range of Sales:   $137,000 - $15 Million       
                 
      <$500,000   22%  
      $500K - $1MM      27%   (49% Sold Below $1MM)
      $1MM - 2MM  26%  
      $2MM - $3MM 12%  
      $3MM - $5MM 9%   
      >$5MM 4%   
                 
Transactions Sold ABOVE Asking Price            10%  
Tansactions Sold AT [...]

Home Is Where Heart is, or is it Heart-broken?

The many faces of foreclosure:

A sad reality indeed, it is shocking how many people are suffering and in Manhattan we are going ahead. Below are 10 surprising tales of what is happening and some hidden affects you may not even think of much less consider. 
When Helping Brings on Hardship
After adopting twelve kids into their family, [...]

How Important Is A Number? Price Paid to Price Sold

Recently I had a deal fall apart due to the purchasers finding out what the seller had paid for the apartment. It was a significant increase in two and a half years.  They felt they couldn’t rationalize that increase and sadly, the deal died.
I got to thinking, What would I have done? And the honest [...]

What Is Up With The Mortgage Markets?

Everyday some breaking news and its usually depressing.  Stocks are down, oil is up and morale can be low.  Although it may seem daunting its not over yet and deals are happening. As you may be wondering about what we seeing lately regarding the mortgage financial markets lately, here is the 411 on whats happening [...]

MOMA’s Modern Modules and “PreFab Goodness”

Last night I had the pleasure of attending the opening of MOMA’s Home Delivery: Fabricating the Modern Dwelling. The exhibit will run from July 20–October 20, 2008.  I have been anxiously awaiting this exhibit since I heard about it. The idea of what is occurring in architecture and design in these areas of “pre-fab” ideas [...]

How to Sell a House, When You Have to Sell It Now

This article was recently in The Wall Street Journal.  Some really great tips and notes, especially  good one for seller’s who must sell.  See paragraphs #3 and #4:  “Price it Cheaply” and “Hire a Top Real-Estate Agent”. 
The truth of the matter in all real estate is supply and demand, know what you are getting into [...]

Bernanke Says…

Fed May Extend Wall Street Lending
Our credit crunch is far from over and $100.00 fill ups at the pump are not in the near future but happening today. The latest comments from the Fed regarding it may extend its emergency lending  to big Wall Street firms enforce this pending problem. Article from Forbes below.
Video
 
From FORBES:United States [...]

Eat, Drink, Be Merry in Madison Square Park!

Some of you may know, I love this park. From the humble beginnings to the amazing transformation that began when I first moved into the neighborhood. Madison Square Park is awesome.  From concerts, to exhibits,community events and not to mention the Shake Shack, this is an outside venue you should check out!
Celebrate Flatiron Chefs!
July 15, [...]

Bernanke & Lacker Set To Speak Today

Much anticipated speech today from Bernanke & Lacker,  discussing state of the union and pending home sales.   Yesterday’s Wall Street ended violent trading session mostly lower as a $4 decline in crude oil futures was mostly overshadowed by tumbling financial stocks, especially Freddie Mac and Fannie Mae. 
Freddie Mac (FRE: 11.91, -2.59, -17.86%) plunged almost 20% [...]