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, ...
Central Jersey’s residential real estate market is moving away from the extreme seller’s advantage that defined the past several years. This shift is creating new options for buyers who had been sidelined by intense competition and high prices. While headline statistics still point to a strong market, changes in inspection negotiations, buyer composition, and investor ...
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, ...
While headlines highlight Florida’s affordability crisis and a median home price near $400,000, a quieter trend is unfolding in Wesley Chapel and Pasco County. Here, builder incentives are making homeownership possible for buyers who previously believed it was out of reach. Whitney Lohr, team leader at Florida Living Group within Berkshire Hathaway HomeServices, has seen ...
While national headlines highlight a slowdown in new construction, several master-planned communities in Wesley Chapel are seeing steady buyer demand. According to Whitney Lohr, team leader at Florida Living Group within Berkshire Hathaway HomeServices, the key difference is a new development model that brings together multiple builders and a wider range of options than the ...
The main criticism of modular construction in real estate is that if factory-built modules do not cost less per square foot than traditional construction, the model fails. Daniel Kaufman, president of Kaufman & Company, argues this misses the real value in today’s construction environment. “Our biggest savings are time,” Kaufman says. “Getting a project completed ...
Rent-to-own arrangements have a mixed reputation in real estate, and Tamera Nielsen, CEO of Burson Home Advisors, says that skepticism is warranted. “Most rent-to-own programs were scammy,” Nielsen says. But she argues that dismissing all alternative ownership models overlooks a key difference between informal landlord deals and professionally managed programs. Nielsen cites a recent case ...
Miami-Dade County’s transparency database lets buyers research building finances before making offers, in contrast to Florida law, which requires buyers to sign a contract before accessing key financial documents. Florida’s condo disclosure laws require buyers to be under contract before they can review critical financial documents. Danielle Blake, Chief of Residential & Advocacy at the ...
Condo associations across Florida are raising insurance deductibles above 5 percent to cut premiums. However, the strategy can disqualify buildings from conventional financing and shrink the buyer pool, according to Danielle Blake, Chief of Residential & Advocacy at the Miami Association of Realtors. Blake warns that when associations increase deductibles to save money, they often ...
The economics of new construction in Bergen County have shifted significantly, making it viable only at much higher price points than in the past. This change has significant implications for the area’s ongoing inventory shortage, as new homes are built exclusively for the wealthiest buyers, leaving most demand unmet. Sergio Sciortino, broker associate with Keller ...
