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October saw a new beginning for the lives of two beautiful families in a small community in El Salvador. I was so fortunate to have the opportunity to join Giveback Homes and a small team of incredible Compass agents as we travelled to La Libertad, El Salvador to help build 2 homes (ground up) for/with 2 deserving families in the village of Los Lotes. Giveback Homes is a trusted community of real estate professionals who are committed to creating social change by helping build homes for/with deserving, hardworking families in need around the globe. Your donations will help build a home for a family in need - Click HERE. *For Build Site Photos & Videos Please Scroll Down* |
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Compass' Q3 Manhattan Market Report |
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I am pleased to share Compass’ Q3 2021 Manhattan Market Insights Report, highlighting the prevailing trends shaping the market. The resilient Manhattan real estate market has entered a price recovery stage. After a record-breaking Q2 and an unprecedented 2020, the median purchase price increased by 6% in Q3, representing a healthy and balanced market correction. Overall, sales volume skyrocketed nearly 215% year-over-year, exemplifying strong consumer confidence in the value of Manhattan real estate and emphatically dismissing the narrative that the city is dead. |
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Also important to note, the last quarter of the year will mark the return of foreign buyers, this on the heels of a United States administration announcement that the country’s borders will reopen to nationals from over 30 countries in November. |
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Real Estate in the News |
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Will The Housing Market Cool Off This Fall? Today’s hot housing market is one of the peculiar outcrops of the pandemic. Housing supply was already low before Covid-19, but it was further hampered as lockdowns took place and people began looking for new homes, driven by a host of reasons—from the desire to leave populated cities to better home offices or just fear of missing out. The Fed’s steps last year to keep the financial markets liquid and to ensure mortgage rates stayed low have continued. But the low mortgage rates pale in comparison to soaring housing prices in the past year. Read more on Forbes |
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DID YOU KNOW |
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The Concept of Owning and Living in 2 Homes is Gaining Traction? Not just amongst billionaires, but also amongst the simply well-to-do. Deciding which is your 'primary residence' is becoming a big issue for consumers....& the taxman! Is this group of 'two-home-owners' further exacerbating inventory shortages? Check out these articles in the WSJ and Bloomberg. |
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More COOL Real Estate News |
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Low-energy Architecture is Here Buildings cooled with zero energy using the Invert shading system are made from a smart material called thermobimetal that changes shape in response to heat. The invention of architect Doris Sung, Invert looks like a regular decorative shutter, but its metal pieces curl and flip over in the sun, altering how much light and heat can enter a space. Dezeen explains HERE. |
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Business News |
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Crypto Income Goes Undetected by the IRS |
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Virtual currencies like bitcoin and ethereum - valued collectively at around $ 2 trillion - offer a way to shield income from the IRS, largely due to lax reporting requirements, which means the federal government may be blind to certain transactions, according to tax experts. The IRS may not be able to trace crypto income or transactions if they go unreported by exchanges, businesses & other third parties. And that means the income may not be taxed. (Read CNBC) |
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More... |
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#STRIKETOBER |
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Thousands of workers in every industry are saying no to current working conditions. The economy is shifting to a labor market where they have more bargaining power, which means workers can push for higher wages and more dignity and respect in the workplace. |
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Local Events & Attractions |
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This fall season’s NY online sale of Master Paintings and Drawings includes an exciting group of property spanning several centuries, subjects and genres with a large selection offered without reserve. From portraits to mythological scenes, this auction brings together a variety of appealing property. Online bidding is open now until 10/22. |
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Roosevelt Island Smallpox Hospital Ruins has the distinct honor of being one of the most haunted places in all of America. The hospital was completed in 1856 and designed by James Renwick Jr. (St. Patrick’s Cathedral) & is an extraordinary piece of NYC history. It was built using labor from the nearby lunatic asylum, was open for 19 years and treated about 7000 patients. Read Untapped NY and VISIT the Ruins! |
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SUMMIT One Vanderbilt Opens Explore NYC’s newest observation deck, SUMMIT One Vanderbilt. This 65,000 square foot, 4 level entertainment space is next to Grand Central and combines cutting-edge technology, design, nature, and a curated multi-sensory experience. Come and see the glass elevators and indoor/outdoor observation deck with glass floors. Click HERE for ticket info and to learn more! |
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El Salvador Build Trip Fall 2021 |
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Featured Listings |
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