Who Determines the Value of your Property? In this difficult buyer’s market where values continue to slide downwards (albeit at a slow pace), sellers often ask why their home isn’t selling close to the property’s asking price.
The reality is…
Sellers & Agents Set the Price Buyers Set the Value And Value is in part determined by how many competitive homes are for sale at the time you are listed, and more importantly (and this is the interesting thing), by how motivated your competitors are. If the sellers of competing property to yours are more motivated than you, they will likely sell before you, and that will certainly affect your value.
The Reality Is That Sellers Only Have Control Over 4 Things: Price Condition of The Home Accessibility to Show the Home Selecting the Right Broker
Sellers Do Not Control: Value Local Market Conditions # Of Competitors on The Market Motivations of Their Competitors
We are working hard to carefully review the competitive marketplace for each of our sellers. We continue to keep our sellers informed on the ever-changing landscape and strategize with them on how to best position and reposition their homes.
Jeremy and Robin Stein Top 5 Sales Team Nationwide 917.854.4411 | firstname.lastname@example.org 917.570.8386 | email@example.com
ROBIN'S ROUND UP
TOWNHOUSE MARKET UPDATE
We're excited to introduce a new section of our Newsletter: Robin's Round Up. Robin will be sharing statistics every month - focusing on a specific neighborhood or a specific type of property. This month, we've chosen to highlight Townhouses, both Downtown and on the Upper East Side. In this ever-changing competitive marketplace, it is more important than ever to be well-informed on recent sales data, both as a purchaser and seller.
Our new loft listing at 487 Greenwich Street in Hudson Square has been featured in The Close's Listing of the Week, as one of seven Manhattan loft spaces that "still have that turn of the century drama that attracted artists like Andy Warhol to them in the first place." Click on the link below to see the full story.
The Real Deal recently spotlit the latest Billionaire Row tower, Robert A.M. Stern's 520 Park Avenue, pictured above, which began its closing last Fall. Jeremy Stein is proud to have participated in one of the building's first twenty closings, representing the purchaser of PH-51, which sold for $32,000,000 in February. Click on the link below to see the full story.
Powered by a Claude Monet landscape that doubled its estimate and elicited applause in the salesroom, Sotheby’s May Impressionist and Modern Auction in New York galloped to a market-affirming $349.9 million tally.
The record-setting work was Claude Monet’s landscape Meules (Haystacks), 1890. It fetched a record-breaking $110.7 million, selling to an unidentified purchaser.
The 1890 painting is one of only four works from Monet’s acclaimed Haystacks series to come to auction this century, and one of only eight remaining in private hands. The 17 others reside in museums.
At least eight bidders sought the Impressionist prize in a drawn-out bidding war that lasted eight minutes. It represents the highest price ever paid for an Impressionist work of art, and it ranks as the ninth-most expensive work of art to sell at auction.
MAKING AN ENTRANCE
With a little more than two years to go before Penn Station is transformed into the brand-new Moynihan Train Hall, new plans and renderings have been unveiled this past week for the East End Gateway - the main entrance of the train depot, located at 33rd Street and Seventh Avenue.
The East End Gateway, will lead passengers into the Long Island Rail Road concourse via an open, airy atrium with three escalators, bringing illumination and light in that concourse for the first time in over 50 years.
Beginning this month, construction is expected to be completed in 2020.
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 Hamptons partner Dana Trotter and her property at 6 Maunakea Street in Sag Harbor.
Colloquially referred to as "Out East," the Hamptons is the quintessential New York City summer outpost. About two hours east of Manhattan, the Hamptons is a collation of towns defined by pristine beaches, manicured lawns, and sprawling estates. The Hamptonsoffer fine dining, amazing shopping and vibrant nightlife that even rival Manhattan.
This e-mail was sent by Sotheby's International Realty, Inc. located at 38 East 61st Street, New York, NY 10065. To not receive further e-mails from The Stein Team at this address, please follow this link.