Posted by Leonard Steinberg on February 24th, 2012 Location, location, location, the first three most important rules for the best real estate and yes, this rule even applies in politics! Mitt Romney learned this painful lesson yesterday while delivering a speech in Detroit to a group of 1,000….in Ford Field, an arena that can hold 65,000 people…. [Read More]
DOES GOOD WEATHER FUEL OPTIMISM IN REAL ESTATE MARKETS?
Posted by Leonard Steinberg on February 22nd, 2012 Is unseasonable good weather fueling this strong market? Home resales rose to a 1-1/2-year high in January, pushing the supply of properties on the market to the lowest level in almost seven years in a hopeful sign for the housing sector. The NAR said today existing home… [Read More]
ADDICTED TO OIL: BACK TO RE-HAB!
Posted by Leonard Steinberg on February 21st, 2012 Yes, the $ 173 billion Greek bailout has been approved, and while this is important, what is the one indicator we need to watch most for the health of the economy and the real estate market? The oil price. And the oil price is soaring again even… [Read More]
BRIC-A BUYERS NOW?
Posted by Leonard Steinberg on February 20, 2012 The BRIC BUYERS, those luxury New York real estate buyers who originate from emerging economies Brazil, Russia, India and China, are being joined by a new group: African buyers. The economy of Africa (second only to Asia in size and population) continues growing at a strong pace:… [Read More]
THE TAXMAN EARNS MORE THAN BROKERS IN A REAL ESTATE TRANSACTION
Posted by Leonard Steinberg on February 19th, 2012 Many un-informed people are sometimes outraged by the commissions brokers earn for a real estate transaction in New York: its usually 6% and sometimes 5% for more expensive listing. This commission is split between buyer and seller brokers 50-50, so the average transaction leaves the broker between… [Read More]
AN AFFORDABLE LED LIGHTBULB?
Posted by Leonard Steinberg on February 17th, 2012 Now there is no excuse for using those hideous fluorescent lightbulbs that emit the vulgar light better associated with surgery chambers: A LED lightbulb thats affordable! The PHAROX lightbulb is an LED that uses about as much energy as a fluorescent bulb, and a fraction of the… [Read More]
NEW YORK IS THE WORLD’S 47th MOST EXPENSIVE CITY…..HUH?
Posted by Leonard Steinberg on February 15th, 2012 New York is the 47th most expensive city in the world…huh? Zurich took over from Tokyo as the world’s most expensive city to live in: that is what the Economist Intelligence Unit’s most recent world-wide cost-of-living survey says, even though it is somewhat difficult to believe. Of course… [Read More]
HAVE YOU SEEN? ART INSTALLATION UNDER HIGHLINE PARK AT 24th STREET
Posted by Leonard Steinberg on February 15th, 2012 Have you seen the rather striking art installation now on display under the Highline Park at 24th Street (on the site of the future PACE gallery), New York’s prized Contemporary Art gallery block between 10th and 11th Avenues? It’s worth a visit! Best viewed after dark, it… [Read More]
PROOF OF THE #7 SUBWAY EXTENSION TO 34th STREET @ 11th AVENUE
Posted by Leonard Steinberg on February 14th, 2012 A perfect Valentine’s gift came to-day in the way of proof that the West Side of Midtown will no longer be isolated from the rest of Manhattan: the tunnel connecting 11th Avenue and 34th Street and Times Square is completed and now the finishing process has begun… [Read More]
IS FIRST CLASS THE NEW MIDDLE CLASS?
Posted by Leonard Steinberg on February 12th, 2012 I just read an article in the New York Times that confirms domestic First Class on airlines is just a slightly bigger, wider version of the horrific Coach class airlines offer to fliers, regardless that they are spending triple or more for their seat. In fact, the perks for… [Read More]