From the category archives:

Market Trends

Which buyers will get squeezed by lower jumbo loan limits?

by Empire August 10, 2011

It’s official:  jumbo loan limits are shrinking from “jumbo” to “extra large” instead.  One by one, banks are cutting off their conforming loans at the $625,500 limit that Fannie will impose come September of this year (this is down from the current $729,500 limit).  At first, upon learning of the lower jumbo cut-off, we started [...]

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International buyers are back! C’est vrai!

by Red Delicious August 1, 2011

It’s been some time since we’ve talked about foreign investors.  We now have good reason to revive the conversation.  According to Urban Digs, much of the uptick in activity we’ve seen over the last six months has come from foreigners swooping in for pied-a-terres, looking to buy their piece of the Big Apple.  Indeed, even [...]

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Overpriced listings at lowest levels since 2008

by Honeycrisp June 30, 2011

That’s right, you read the headline correctly:  the pool of overpriced listings appears to be at a 3 year low right now.  According to Urban Digs’ extensive analytical platform, the number of overpriced listings is at the lowest level since 2008, based on the proxy for this statistic: the number of properties going off market.  [...]

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The summer slow-down myth exposed

by Mitchel Askinas June 17, 2011

It is considered common wisdom that the summer presents both sellers and buyers with the annual seasonal slowdown, both in the number of listings coming to market and in the number of contracts signed.  This is said to be the case due to the mass exodus of residents leaving the city for their Hamptons homes [...]

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BREAKING NEWS: conforming loan limits already being cut in NYC

by Honeycrisp June 9, 2011

Chase appears to be the first bank (that we know of) that is moving to lower conforming loans limits.  According to our sources, the bank has to have its $729,750 loans locked in by the end of the business day today and close by September 30th .  Starting tomorrow their high balance loans will be capped [...]

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The last bastion of rental value: co-ops

by Red Delicious June 1, 2011

With the rental market the tightest it’s been in years, and with prices set for some real increases this summer, you may be scratching your head as to where you can get some real value.  The answer may well be co-ops.  With the advent of ultra-luxury rental towers and the proliferation of condo rentals, it [...]

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Are co-ops going out of favor in NYC?

by McIntosh May 25, 2011

Every so often, several deals occur over a short period of time that raise our eyebrows in terms of new, developing market trends.  While we can’t call it an outright exodus, we have encountered one too many of these situations to not mention them:  owners selling their coops and strongly opting for condos in their [...]

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Why fewer listings are coming to market – some theories

by Red Delicious May 23, 2011

Are you feeling frustrated? Does it seem that there are too few new apartments coming on the market for this time of year?  Well, you are correct.  As Urban Digs points, out: April was the 7th consecutive month where we have seen fewer listings come to market compared with the same period exactly one year [...]

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Full-scale renovations are on the rise led by buyer frustration

by McIntosh May 11, 2011

We’ve talked a good bit about the relative lack of inventory on the NYC landscape and the buyer frustration felt at having so little from which to choose.  Alas, this frustration seems to be manifesting itself into a new trend:  if buyers can’t find what they’re looking for, they’ll create it!  We’re seeing a significant [...]

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Q1 Reports – how lagging data is affecting them

by Empire May 3, 2011

Q1 reports are out and many are pointing to the possibility of a declining market, driven by decreasing activity and prices following suit.   We found these headlines suspect, particularly based on what we’re seeing on the ground:  inventory seems tight, prices appear quite stable and buyers feel anxious.  So we did some digging and learned [...]

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