Connecticut’s unique municipal governance system is discouraging outside real estate investment by creating unfamiliar and complex barriers for developers, according to a leading executive at a state development authority. The state’s lack of county-level uniformity means developers must navigate a patchwork of local rules, a challenge rarely encountered elsewhere in the country. Development Environment Connecticut ...
Manhattan’s residential real estate market is seeing a marked increase in all-cash transactions, particularly from international buyers, creating a clear divide between cash and financed purchases. According to Ann Ferguson, principal broker and founder of Ann Ferguson, LLC, this trend is creating two separate markets within the same city, each operating by different rules. Ferguson ...
In small multifamily development, the real competitive edge often comes not from building an extensive, geographically diverse portfolio, but from deep local knowledge of specific submarkets. James Smithmeyer, founder of JMJ Contracting and Development, argues that in the Northeast, success is determined less by scale and more by the ability to navigate the nuances of ...
Real estate transactions in Litchfield County, Connecticut, are increasingly falling apart during the inspection phase, not due to serious structural problems but because buyers overreact to minor issues typical in older New England homes. According to LeeAnn Asklar, a realtor with E.J. Murphy Realty, buyers are abandoning deals over findings that experienced homeowners would expect ...
Standard underwriting models often miss a critical vulnerability in small-scale multifamily development: regulatory requirements imposed late in the project cycle can inflict far more damage than the exact costs incurred earlier. These late-stage delays disrupt project economics, threaten developer confidence, and can even render projects unviable. James Smithmeyer, founder of JMJ Contracting and Development, has ...
Private wealth management divisions at major banks are creating alternative financing channels for Manhattan’s luxury buyers — transactions that rarely appear in conventional lending data, according to industry veteran Steven Cohen, team leader of The Steven Cohen Team. Manhattan’s luxury real estate market is undergoing a marked change in how transactions are financed, says Steven ...
In supply-constrained markets, first-time homebuyers are often drawn to move-in-ready homes. Still, veteran Bergen County real estate team leader Cheryl Cooper argues this convenience can become a costly financial trap. Cooper, who leads The Cheryl Cooper Group in Bergen County, New Jersey, says the widely accepted belief that a “perfect” home is the best investment ...
Many investors entering Manhattan’s luxury residential market continue to expect rental yields that the city has never produced — and likely never will — according to Emma Kerins, a licensed associate real estate broker at Brown Harris Stevens with three decades of Manhattan experience. “Investors come in and think they can make five to ten ...
Rising renovation costs and strict preservation rules are causing a spike in failed transactions in some of the country’s most sought-after rural luxury markets. In places like Litchfield County, Connecticut, the historic architecture and controlled development that once attracted buyers are now creating new challenges, according to William Melnick, associate agent at Elyse Harney Real ...
The long-standing idea of buying a fixer-upper in the countryside and restoring it over time is quickly losing ground in affluent second-home markets. William Melnick, associate agent at Elyse Harney Real Estate, says a clear generational divide is reshaping buyer demand and putting new pressure on the supply of move-in-ready homes. “I don’t think Generation ...
Rising interest rates have dramatically changed how affluent buyers approach real estate in secondary markets, according to William Melnick, associate agent at Elyse Harney Real Estate in Litchfield County, Connecticut. A once-common financing strategy — using cash offers to secure a property, then refinancing to lock in low-cost debt — has vanished, upending both deal ...
Manhattan’s residential real estate market has long moved in predictable cycles, with busy spring seasons and slower holidays. This year, however, Ann Ferguson, principal broker and founder of Ann Ferguson, LLC, observed an unexpected spike in activity in November, typically a slowdown. “For some weird reason in November the market picked up, and that is ...
After years of lagging behind condos, Manhattan co-ops are seeing renewed buyer interest as declining mortgage rates near 6 percent make board-approved properties affordable again. This reversal comes after a long stretch in which stricter approval processes and stringent financial requirements pushed many buyers toward condos. Ann Ferguson, principal broker and founder of Ann Ferguson, ...
Real estate development in the United States is shaped not by federal policy but by thousands of local decisions across the country. Daniel Heller, CEO and co-founder of ReZone (recently acquired by Shovels AI), argues that this fragmentation leads to a core market inefficiency: information that is technically public often remains functionally out of reach ...
High-net-worth buyers are fundamentally changing Miami’s real estate market by refusing to consider properties that require any post-purchase work. This new buyer mindset, driven by comparisons with other luxury markets, is forcing sellers to raise their standards or risk prolonged listing times and price cuts. Madeleine Romanello, a broker associate with the Romanello Villar Group, ...
