Posted by Leonard Steinberg on July 24th, 2012 Today a report to be released by Zillow indicates that home prices in the second quarter rose from the year-ago period for the first time since 2007, according to a closely watched index, the latest indication the housing market is starting to recover. In the quarter ending in… [Read More]
IS THIS THE BOTTOM?
Something very newsworthy is happening in the luxury Manhattan real estate market…….for the first time in many years we have experienced (while renting out an apartment in Tribeca) prospective, qualified renters withdrawing their applications after realizing that buying would cost almost the same as renting, and opting to buy. We have not heard this in… [Read More]
HOUSING INVENTORIES WILL RISE THROUGH 2011
In the WALL STREET JOURNAL: Sales of new homes are near 47-year lows, yet the supply of new and existing homes is expected to grow in the months ahead as construction ramps up and a wave of foreclosed homes hits the market. LUXURYlesson: “While the USA in general will experience increases in inventories, the luxury… [Read More]