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FEAR OF FRIDAY THE 13TH |
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Superstition is defined by Merriam-Webster as “a belief or practice resulting from ignorance, fear of the unknown, trust in magic or chance, or a false conception of causation”. I don’t personally know anyone that would adhere to superstition if they were doing so based on this definition! However, I have dealt with many buyers and sellers who say they are “superstitious”. They may not want to close on a particular day; they may want to include or exclude specific numbers or number sequences from their offers or sale prices; they may not want to arrange for movers until a closing date is scheduled; or they may just not feel “right” about the other party they are transacting with! Buyers and sellers are unfortunately not in control of all of the facts and circumstances of the transaction some of which may run contrary to their superstition or belief. In a disjointed market (which we are currently experiencing) where it is hard for buyers and sellers to come to a meeting of the minds, it is rather common for the parties to have angst toward each other, especially with protracted, contentious negotiations that result from each party firmly believing they are caving. However, 9 times out of 10 the parties are happy when the deal closes. A buyer gets a new home and a seller gets to move on to the next chapter of their life. As time marches on that number becomes 10 out of 10. Your sale or purchase allowed you to shift your life and start making new meaningful memories with your loved ones. The worrying superstition and angst are gone and you have real estate war stories to share at cocktail parties! Real estate transactions can be incredibly joyous and satisfying. The steps along the way can be very stressful and scary for many which is why you need the right advisor on your side with enough experience to have almost “seen it all”. I love helping people with this process and feel grateful that I found myself in a position to be able to do so. |
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Have a fabulous and superstitious-free Friday the 13th and MLK weekend! Best, Michael |
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Market News |
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Office space conversion could create 20,000 homes |
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NYC’s plan to convert office space into housing could create 20,000 homes. In December, Mayor Eric Adams and Gov. Kathy Hochul announced a plan to address the needs of post-pandemic New York by creating mixed-use neighborhoods in central business districts to draw more residents, businesses, and tourists. The plan advocated for the much-discussed idea of converting vacant office buildings into homes, a solution that tackles both the city’s housing crisis and lagging retail growth by making zoning laws more flexible. Read full article: CLICK HERE |
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What Should New York Homebuyers Expect in 2023? |
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After a year like 2022, buyers are desperate for some good news. If you wanted to buy a home in New York, or really almost anywhere, 2022 kept getting worse — home prices soaring, hitting a record $1.25 million median for a Manhattan apartment just before mortgage rates rose to highs that this generation of buyers hasn’t seen (7 percent interest for a 30-year fixed-rate mortgage, anyone?). More recently, rates have fallen slightly to 6.31 percent and prices for Manhattan apartments started falling too. But, as Black says, this is not the beginning of a bigger shift. What many realtors, economists, and mortgage lenders agree on is that there may be a window at the beginning of next year to buy a house at today’s rates (or as rates potentially slide later in 2023). Read the full article: CLICK HERE |
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Manhattan Market Report Q4 2022 |
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In case you missed it, here is Compass' quarterly market report. More Manhattan apartments traded in 2022 than in all but three years since 2012. This 10-year macro-level view illustrates that the market now more closely resembles pre-pandemic levels, dismissing any doomsday narratives and pointing to a continued market rebalancing after two frantic and unsustainable two years of record activity. |
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Winter Things To Do |
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Rooftop Bar Made of Ice Opens |
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January 12 - February 26 |
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New Yorkers are now able to relax in an ice lounge with cool views of the Manhattan skyline and Brooklyn Bridge. Located atop the 1 Hotel Brooklyn Bridge in Brooklyn Bridge Park, the Polar Lounge at Harriet’s Rooftop offers patrons a glacial experience with seating, sculptures, and drinks made from ice. The Polar Lounge has teamed up with luxury outerwear brand Moose Knuckles to let guests borrow parkas from their sustainably sourced collection to stay warm while relaxing on the roof. More info: CLICK HERE |
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12 Family Friendly Ski Areas in New York State |
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Skiing is a great outdoor family activity that provides winter fun and excitement for every age group and skill level. In New York State, it’s easy to find plenty of ski areas that make winter getaways easy, fun, and carefree for the whole family. Whether you’re trying skiing for the first time or have been hitting the slopes for years, you’ll discover many ski resorts in New York State perfect for you and your family. Here’s a guide to some great family-friendly ski resorts across the state for your next winter getaway. More info: CLICK HERE |
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