This past month, the properties that sold were those that were both coveted and priced to sell. Property that was overpriced or felt in anyway mediocre sat. The key to selling right now is to get out ahead of the buyers and make sure your price makes the home look very appealing. The ups and downs in the stock market and midterm elections certainly played into buyers’ uncertainty about the future of everything from trade to financial markets to housing. We find ourselves in an uncertain time so buyers are only buying what they feel certain about – whether it be a home they know they love and know they can stay in a while or a home they absolutely know is priced well. December should be more of the same and it will then be interesting to see what the new year brings.
Jeremy and Robin Stein Top 5 Sales Team Nationwide 2017 917.854.4411 | email@example.com 917.570.8386 | firstname.lastname@example.org
STEIN TEAM NEWS
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We are pleased to announce that the Stein Team is continuing to grow, with the recent addition of Tamara Victor. Tamara joins the Stein Team as a Team Administrator, helping our team to provide the best service, attention, and discretion to our clients. Tamara joins Sales Associate Jennifer Henson, Sales Associate and Marketing Director, Marc Fichera and Sales Associate Robert Levine, as well as Team Principals and Founders, Jeremy and Robin Stein.
IN THE NEWS
HOUSING MARKET SLUMP?
These should be happy times for the housing sector: a booming economy, more people working at higher pay, and the sizable millennial generation finally reaching prime home buying age. Instead, the housing market has gone soft, acting as a drag on the overall economy rather than as a force propelling it forward. So, what's the problem?
The crux of it is an ongoing standoff between buyers and sellers: more and more home sellers are finding they must reduce asking prices to find a buyer, while buyers are still finding prices to be out of reach relative to their incomes.
The New York Times analyzes the current paradox and what it means moving forward. Enjoy the full article by following the link below.
According to Benjamin Moore, the future is looking refreshingly neutral, unveiling “Metropolitan AF-690″—a subdued dove gray—as its 2019 Color of the Year.
Benjamin Moore’s creative director Ellen O’Neill described the shade as “color, off duty.”
“It’s a color in the neutral spectrum that references a contemplative state of mind and design,” she said in a statement. “Not arresting nor aggressive, this understated yet glamorous gray creates a soothing, impactful common ground.”
Industry insiders found the choice to be unexpected - more often than not, Color of the Year choices are bold, but not a tone most people would integrate into their spaces. The perfectly neutral gray of "Metropolitan," however, is right at home in any environment.
Enjoy our collection of "Metropolitan"-hued spaces that showcases the versatility of 2019's favorite gray.
E-commerce juggernaut Amazon's recent search for the location of its second headquarters, known as HQ2, launched cities nationwide into a frenzied competition to woo the corporation with incentives, in hopes that their bids for HQ2 would spur economic development. Finally, the decision has been made - HQ2 headquarters will be split between two cities: Long Island City, NY and Arlington, VA. Amazon's arrival in the city's borough of Queens now has the city grappling with the tremendous impact on the neighborhood and others nearby.
Real estate in Queens has been booming over the past decade, but startups, in particular, have increasingly taken up residence in Long Island City over the last few years. Conveniently located directly across the East River from Manhattan, the conveniently located 'hood has become a home for people who've been priced out of Brooklyn and Manhattan. As a result, it's also been deemed one of the hottest spots for young people to live in — and that's helping to drive up residential prices. Rental prices are already well above Queens' median.
Long Island City was chosen by Amazon because of its proximity to Manhattan, its mass transit options, and its reputation as a “diverse community” with lots of mixed-use buildings. According to the agreement, the total cost of building a new LIC headquarters would be nearly $3.7 billion. Amazon will build a campus of at least 4 million square feet near the Anable Basin on the East River waterfront, bringing more than 25,000 employees to the area. The agreement comes with a number of incentives: tallying total public funds up to $2.988 billion - broken down, the city and state will pay Amazon $48,000 per job.
According to the state, Amazon will generate $27.5 billion in state and city revenue over 25 years, a 9:1 ratio of revenue to subsidies, an arrangement Governor Andrew Cuomo called “the highest rate of return for an economic incentive program the state has ever offered.” Mayor Bill de Blasio said he was “thrilled” that Amazon has picked LIC, and that the move is “is a giant step on our path to building an economy in New York City that leaves no one behind."
We are proud to share the latest edition of New York City Style Guide, a peek into New York City's most stylish homes offered for sale. As the international leader in luxury residential real estate, Sotheby's International Realty takes great pride in presenting the most captivating and architecturally significant properties available for sale in New York City.
Enjoy the full Style Guide by following the link below.
As members of the Market Leader Partners Initiative, comprised of Sotheby's International Real Estate’s finest professionals in every key market around the world, we want to introduce you to our Vail partner Tye Stockton and his property at 2950 Booth Creek Drive.
We invite you to explore one of the American West's most popular ski destinations, Vail.For those who favor the luxury lifestyle both on and off the slopes, allow us to help you find the perfect home that appeals to the skier in you.
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