The economic benefits of 432 Park Avenue, New York, the much-hyped Manhattan Mega-Tower in the Midtown Cultural District are enormous: Units have just started to close. Too many have vilified the buyers of these uber-expensive apartments marginalizing their contribution to the City. The economic impact of this building is massive and here is a breakdown of what… [Read More]
NEW KITCHEN DESIGN
Posted by Leonard Steinberg on December 4th, 2015 (excerpt from my daily COMPASS CONTEMPLATION) The debate between an open or closed off kitchen design has raged over the past two decades with almost evenly divided camps. Some feel an open kitchen is much more conducive to healthy interaction between the host (who may be cooking… [Read More]
Buying Legitimacy
Every morning, seven days a week, 365 days a year, I write a daily contemplation to all at COMPASS. I thought I would share this one that has resonated well with everyone. BUYING LEGITIMACY The Internet-driven world has allowed many to fabricate an (often false) image of who they are. Aside from selfies with… [Read More]
3.9 million more renters.
Posted by Leonard Steinberg on October 25th, 2015 Every morning I write a contemplation to everyone at COMPASS sharing thoughts and insights: Here is an edited highlight of this morning’s COMPASS CONTEMPLATION related to the advantages of buying property: DID YOU KNOW? The number of single-family renter households increased by 3.9 million more renters, or 34%,… [Read More]
Compass Markets
Posted by Leonard Steinberg, President of COMPASS, on Saturday, October 23rd, 2015 This week was a HUGE moment for Compass as we launched COMPASS MARKETS, the first ever real-time market reporting/analysis thats available in the palm of your hand via a mobile APP, instantly, anywhere in the world. This Compass Markets APP is truly revolutionary, and we… [Read More]
CONSUMERISM THAT CREATES BONDS
Pope Francis laments the days when the local shop carried every item a household required under one roof and how that shop created the kind of bonds between retailers and consumers that have virtually disappeared in our ultra-consumerist world. Consumerism has become increasingly isolating and lonely, especially when so much can be purchased on… [Read More]
THE SILVER SPOON GENERATION
Posted by Leonard Steinberg, President of COMPASS, on July 2nd, 2015 The Greatest Generation is in the midst of transferring massive amounts of wealth to their baby boomer kids (and grandkids), the largest generational transfer of wealth in history……to date. This is happening simultaneously to the beginnings of an even larger wealth transfer from Baby… [Read More]
REAL TRENDS WALL STREET JOURNAL TOP 1000 AGENTS
Posted by Leonard Steinberg, president of COMPASS on June 28th, 2015 A huge CONGRATULATIONS to all my fellow colleagues who were listed on the Real Trends TOP 1000 Agents in the Wall Street Journal yesterday: everyone on these lists should be extremely proud of their achievements considering they are in the Top 0.00125% of all… [Read More]
Broker’s fiduciary duty means putting clients first.
Posted by Leonard Steinberg, President of Compass, on June 24th, 2015 This week COMPASS enacted a new policy that I think is truly historical: for the first time it gives real estate agents the respect I think they are entitled to. When a client hires an agent, most times they don’t realize that if that… [Read More]
THE RETURN OF BAD REAL ESTATE HABITS?
Posted by Leonard Steinberg, president of COMPASS, on June 20th, 2015 Two aspects of the last recession…..low down payments and speculators…..are back. Mortgages offered by lenders that have down payments of 10% or less are becoming more common: In the first quarter of 2015, 51% of home buyers with a non-jumbo mortgage (more than 136,000)… [Read More]