Enjoy a night out on the town in Brooklyn! From March 19th to March 29th take advantage of great discounts being offered from over 195 of Brooklyn’s best restaurants. Enjoy delicious pre-fixed 3 course meals or just have a wonderful lunch. All for a great affordable price, right here in Brooklyn. Go to www.visitbrooklyn.org to view all of the participating restaurants and make sure when you call to make your reservation; don’t forget to mention “Dine In Brooklyn”.
Beautiful Art On Display
Here is a cool art project by Venezuelan sculptor Rafael Barrios. Each piece of art weighs about 2,200 pounds and stands more than 20 feet tall. It is currently on display from 51st to 67th streets on Park Ave in Manhattan. This artwork will be up until June 30th. If you are in the area you should take a look. It is truly great work.
New York City Real Property Taxes
Here is a great video courtesy of the Real Estate Board of New York that discusses New York City’s real property taxes.
Real Property Tax Fairness – No Margin for Delay from REBNY on Vimeo.
New York City’s Employment Remains Stable
For the month of May, there was no significant growth in jobs within New York City, according to the revised monthly report released today by Eastern Consolidated.
Katherine Clarke of the realdeal.com reported that “In the last 20 months, New York City has added 75,100 jobs, keeping employment 1.7 percent below its August 2008 peak. The city continues to outperform the nation; the U.S. has 6.5 million total jobs, or 5 percent, less than its January 2008 peak.”
Even though there was no significant growth last month; let’s keep a close eye on the June employment numbers to see if the city can generate some positive momentum moving forward.
New York Real Estate
Here is a great video courtesy of the Real Estate Board of New York discussing the powerful impact of New York Real Estate.
2nd Quarter 2010 Manhattan Rental Market Report
Having access to noteworthy, timely information is essential for today’s constantly evolving buyer, seller, renter or investor. Today, Prudential Douglas Elliman Real Estate in conjuction with Miller Samuel released their 2nd Quarter Manhattan Rental Market Overview.
Kindly review this market resource and notice how the Manhattan rental market has improved over the past year. Rental activity has more than doubled while rental prices are showing strong signs of stabilization. An increasing amount of renters are currently paying closer to asking rents than they have in the past and landlords have been able to adjust their reliance on concessions to manage available apartments.
Keep a look out for the 2nd Quarter Market Report for Brooklyn!
What is included in the monthly maintenance fee?
If you are currently in the market to purchase a new co-operative apartment chances are you have probably asked this question time and time again. What is included in the monthly maintenance fee? Today, let’s take a look at all of the things that your monthly maintenance fee would consists of.
The monthly maintenance fee is paid to the corporation of the co-operative buillding. This fee covers the corporations costs to care for the building. This includes repairs to the building, the upkeep of the buildings plumbing and electrical wiring, payment of salaries to employees such as the doorman, the super and/or management company, payment of the real estate taxes and payment on the buildings mortgage. In addition, maintenance fees should also include funds to be paid to the reserve fund. Reserve funds are used for capital improvements such as a new roof or boiler.
I hope this was helpful. Tune in tomorrow as we take a look at what is included in a condominiums common charges.
Tips For Effective Home Staging
Here is a great video filled with tips on home staging from Cathy Hobbs of Metro Residential. Check out Metro Residential every Sunday morning at 11am on Channel 11.
What Is Motivating Homebuyers To Purchase?
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What is motivating prospective homebuyers to come off of the fence and purchase real estate in these current market conditions? Is it the favorable interest rates, is it the newly extended and expanded homebuyer tax credit? Well according to a recent article by Luke Mullins of U.S. News & World Report the 2009 profile of homebuyers and sellers by the National Association of Realtors (NAR), the tax credit was the fourth leading reason why first time homebuyers made their purchase. The aspiration to own their own home was the number one reason at 62%, followed by the current affordability of homes at 10% and lastly at 8% it was a change in family situation.
Based on these statistics it seems that homebuyer motivation is the major indicator that has spurred the latest increase in real estate sales. At the end of the day it is a mixture of things that motivates buyers to purchase. It is the Feds program to keep mortgage rates low, it is the homebuyer tax credit to help generate some form of savings for purchasers and it is the current market conditions making properties more affordable today than they were a year ago.
Click here to view the updated First-Time Homebuyer Tax Credit.
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