Hey Friends, The market is moving along at quite a strong clip especially considering we are still in the dead of winter... Usually, a time when the market takes a breather. Right now feels like anything but that. It is partially propelled by the fear of rising interest rates (more on that below). Buyers are out in force, and sellers are motivated to make the best of buyer enthusiasm and low inventory. And I don't say this to discourage buyers as I still think there are solid values and great apartments out there, but now as much as ever smart guidance is an absolute must . Please be in touch if a home search or sale is on your spring agenda. Additionally, I am looking to expand my team and bring in another agent. So if you know anyone who wants to join an exciting small team who is one of the best in the
City please introduce me. The only caveat is we are not looking to bring on someone completely brand new to the industry. Thanks!
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What do Rising Interest Rates Mean for You?
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I am getting more questions than ever about rising rates, while overall, the market remains white-hot. But what do future Federal Reserve moves mean for you and your personal home buying or selling journey? That depends, as the New York Times recently laid out in a very informative piece. In short, the Fed wants to control runaway inflation by raising the rates the banks charge for loans. That will impact all types of loans, mortgages a little less so than others. Because the Federal Reserve seems very likely to raise rates next month, mortgage rates will probably increase from their current 3.92 percent soon. There's another factor at play regarding interest rates: bonds. The federal government is anxious to get clear of the home mortgages it owns within bonds it purchased to shore up the housing market. Now that the housing market has stabilized, the Fed wants out, and the sale of these bonds may propel rates higher as banks attempt to lure new investors. The good news is that higher mortgage rates don't necessarily have an enormous impact on whether new buyers enter the housing market or not. That is IF housing prices stop rising as sharply as they have been, and that's a big if! Also please remember rates are still at historically low levels and you should always talk to your bank about relationship pricing!! Or Talk to me and I will get you the right person from your bank...
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Rising Prices Are Everywhere, Including Your ConEd Bill
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This one was crazy to me so I had to include it on the Newsletter! First of all, while some ConEd customers saw totals two or three times higher than usual, they weren't the only company handing out bigger bills. In Long Island, PSEG customers saw 26 percent increases, and those in the Hudson Valley clocked rates that were 46 percent more. So what gives? Turns out, the short answer is: natural gas. New Yorkers get 70 percent of their energy from natural gas, and when natural gas commodity prices go up — which they did — power companies pass that cost onto their ratepayers. Changing power companies won't necessarily reduce your rates because you'd most likely still use ConEd's infrastructure. And if commodities prices weren't enough, ConEd is also requesting rate increases from the state to improve renewable energy use and outer- borough service.
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MY NEW YORK CITY – NEW RESTAURANTS & BARS EDITION!
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While the last two years created an unfortunately long list of closed New York eateries and pubs, we can finally set our sights on several hotspots set to open this year. Thrillist offers a list of a dozen openings that have them, well, thrilled. Among them, Laser Wolf, a Williamsburg outpost of one of Philly's best restaurants, has my interest piqued with their Israeli grill house menu. Named for the butcher in Fiddler on the Roof, the restaurant will debut on the rooftop of The Hoxton hotel. Over in Chelsea, Melissa Rodriguez, the former executive chef at shuttered Italian restaurant Del Posto, will be opening three new venues on the premises, including pizza joint Mel's, Discolo cocktail bar and another fine dining Italian restaurant called Al Coro. Rockefeller Center will also see a resurrection of sorts with three floors of eating and drinking from Pebble Bar, located in the former historic Hurley's space. Headlining Eater's list of anticipated openings is José Andrés' Zaytinya location slated for the Ritz-Carlton in Nomad. Meanwhile, Victoria Blamey, of Chumley's and Gotham Bar & Grill fame, has opened South American spot, Mena, to much fanfare on Tribeca's Cortland Alley.
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130 Jane Street, Unit 1/2C
$2,995,000 | 3 Bed | 2.5 Bath
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108 India Street, Unit 2A
CONTRACT SIGNED Greenpoint
$2,575,000 | 3 Bed | 3 Bath
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260 Park Avenue South, Unit 4G
$2,395,000 | 2 Bed | 2.5 Bath
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407 East 91st Street, Unit 1A
$1,795,000 | 3 Bed | 2 Bath
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