Monthly Archives: January 2013

Housing prices rise in Astoria and Long Island City | Bedford Realtor

Real estate prices and rents in Long Island City and Astoria are on the rise, especially in the luxury housing market, where there isn’t enough supply to meet demand, a new report shows.

The average monthly rent for a one-bedroom was $1,600 in Astoria and $2,400 in Long Island City in the last quarter of 2012, according to real estate brokerage firm Modern Spaces.

And the average one-bedroom sold for $387,786 in Astoria and $501,732 in Long Island City in the same period.

“We’re definitely seeing prices going up,” said Modern Spaces President and CEO Eric Benaim. “There’s not enough housing to support everybody.”

Long Island City rentals saw a roughly $50 monthly hike from the previous year. And though one-bedrooms sold for about $34,000 less in 2012 over 2011, the price per square foot jumped from $700 to $732. There was no 2011 data available for Astoria.

Benaim attributes the hike to Manhattanites getting priced out of the city and moving to Long Island City — despite many of the luxury towers being located on the waterfront in flood warning Zone A.

And now that prices are rising in Long Island City and units are getting smaller, due to a lack of housing, more people are turning to Astoria — where developers are now building upscale units with attractive amenities, he said.

Paul Halvatzis, one of the owners of Amorelli Realty, said he’s starting to see “unique,” “aesthetically pleasing” buildings go up in Astoria — instead of the usual cookie-cutter, two-family homes.

“This area is only going to continue to go up,” he said. “People want to be here.”

Dan Miner, senior vice president at the Long Island City Partnership, a local development group, said he’s seen a dramatic shift in the area in the 13 years he’s worked there.

“Long Island City was a gritty, industrial neighborhood and many people confused its name with Long Island,” Miner said.

Now “we have vibrant industrial, residential, commercial and cultural communities,” said Miner, who pointed out the area’s close proximity to Manhattan. “The future is pretty promising.”

Arthur Rosenfield, president of the Long Island City/Astoria Chamber of Commerce, said he isn’t surprised by the demand for housing in northwestern Queens.

“The schools are good, the crime rate is low,” he said. “The quality of life is just phenomenal.”

ctrapasso@nydailynews.com

Elliman Releases Palm Beach FL Market Report | Pound Ridge Realtor

There was a significant uptick in Palm Beach sales activity this quarter compared to the results last year. We also observed a significant shift towards high end properties as indicated by the jump in overall market prices and luxury market prices. The longer marketing times largely reflected older inventory being sold off. The market improvement has been an encouraging development that we expect to see through most of 2013.

 

As housing conditions change in South Florida, we strive to present our clients with timely insights on the markets we cover. In a region where housing markets are often mischaracterized and misunderstood, we firmly believe that neutral market analysis is one of the best resources we can offer to enable our clients to make more informed decisions. Douglas Elliman is firmly committed to providing information and services to meet our clients’ needs. Explore our full market report series covering south Florida including Miami, Boca Raton, Fort Lauderdale and Palm Beach at  http://www.ellimanflorida.com/market-reports/

Elliman reports on Boca Raton FL Market | Chappaqua Realtor

It has been a year of changes as housing prices and sales volume continued to press higher in Boca Raton in both the overall and luxury markets. Like we observed in recent quarters, the price indicators continued to show double-digit gains from prior year levels. Consistent with rising prices has been the faster marketing times and falling discounts from list price. The market has clearly turned the corner over the past year despite tight credit conditions. We look forward to additional improvement in 2013.

 

As housing conditions change in South Florida, we strive to present our clients with timely insights on the markets we cover. In a region where housing markets are often mischaracterized and misunderstood, we firmly believe that neutral market analysis is one of the best resources we can offer to enable our clients to make more informed decisions. Douglas Elliman is firmly committed to providing information and services to meet our clients’ needs. Explore our full market report series covering south Florida including Miami, Boca Raton, Fort Lauderdale and Palm Beach at  http://www.ellimanflorida.com/market-reports/

Latest Victories for the Nature Conservancy | North Salem Real Estate

2012 Conservation Victories: Our Shared Legacy

 

Thanks to your generous support in 2012, along with our local landowners, we are proud to announce that 92 acres of beautiful, pristine land in Westchester is now protected forever.

 

Finch Farm in North Salem

 Our most recent achievements are in North Salem and Pound Ridge. Today and forever, North Salem will be home 

to 45 acres of conserved land, located in a region identified by the Wildlife Conservation Society as having some of the highest levels of native plants, animals and insects in the northeastern U.S. This could not have been possible without the support of Finch Farm owners, Lori and Laurence Fink. 

 

 

Mr. Fink described the importance of conserving his family’s land: “We are so pleased that Finch Farm LLC has been able to donate an easement on 45 acres of land that abuts our home in North Salem. This donation will protect this wonderful property in perpetuity, protect its habitat and wooded and meadow areas, and prevent any subdivision or further residential development on the protected land. We are pleased to have been able to work with the Westchester Land Trust to continue the strong tradition of stewardship in the area.” The preserved easement area also presents beautiful viewsheds along public thoroughfares and scenic roadways, an extensive wetland and watercourse, and maturing woodlands.

 

In Pound Ridge, 4 acres on South Bedford Road will remain undeveloped and   

Fertig Easement
Newly Conserved Land in Pound Ridge

entirely wooded. The conserved area is significant for many reasons. It adjoins WLT’s Westchester Wilderness Walk/Zofnass Family Preserve, and the site overlooks Mallard Lake. The property drains into the Mill River Basin, which is part of drinking water supply of the Aquarion Water Company of Connecticut, and is important to the protection of water resources. Like the North Salem property, the parcel is part of a critical conservation area that supports a variety of life in our region.

 

We celebrated spring 2012 with permanent protection of 43 acres straddling Ossining and New Castle that is home to Maryknoll Sisters of St. Dominic, Inc., a private non-profit religious organization. The Maryknoll Sisters maintain a strong land ethic, and Sister Janet Miller described the importance of this preservation effort: “It is our home..the place that nourishes us, the place of healing and reconnecting when we return from overseas mission… I am grateful this land will be here for future generations.”  Miller co-directs the Maryknoll Sisters Environmental Office with Sister Doreen Longres and both were instrumental in making this preservation effort a reality. The Maryknoll land includes wetlands, fields, woodlands and a walking trail that is a place of refuge and contemplation for the Sisters, many of whom travel extensively on global missions. The site is also within the Oliver Pond/Lower Hudson River basin and drains directly into the Hudson River estuary.

Winter Maintenance Tip: Don’t Forget About Your Furnace Filter | Cross River Real Estate

 

This time of year, chances are that your forced-air furnace is in daily operation. To keep the unit running smoothly, and to avoid the hassle and expense of an emergency repair, give due attention to the furnace’s filter. The right one will protect the furnace, increase its energy efficiency and even improve your home’s indoor air quality.

The importance of a furnace filter

A forced-air furnace running without any sort of filter would send dust and dirt all throughout your house while leaving the appliance vulnerable to a host of mechanical problems.

On the other hand, a furnace with a filter that’s excessively dirty would have to work harder than necessary to do its job. Such inefficiency raises the already high cost of home heating. Not to mention, a clogged filter could lead your furnace to overheat and shut down, an event that would likely entail calling in a pro for a costly fix.

Make sure that your furnace is protected and performing at its peak by checking the filter every month during winter. If the filter is dirty, you will need to replace or clean it, depending on what type of filter it is.

Choosing a furnace filter

The most common type of furnace filter is inexpensive, disposable, 1- or 2-inch-thick fiberglass. So long as you remember to do monthly replacements, this filter type will do a good job of protecting the working parts of your furnace, but it won’t do much to aid indoor air quality.

A bit more expensive are “pleated” fabric filters, which trap a higher percentage of airborne particles. Plus (at least in theory) pleated filters will last several months. But if you own pets, live with a smoker or frequently open the windows in your home, checking the filter on a monthly basis is again recommended.

Some pleated filters carry an electrostatic charge that further boosts filtration. These run about $20 apiece, but you can easily find reusable versions that will last about five years if cleaned regularly. Suffer from allergies? Consider shelling out for a HEPA-rated antimicrobial filter.

Installing a new furnace filter

I always encourage folks to consult the owner’s manual for details on their specific model of furnace, but in general, installing a new filter is simple.

The first thing to do is switch off the unit. Then locate the service panel, remove the old filter from its housing and switch in your new filter. Take care to follow the arrows (indicated both on the filter and the furnace) and face the filter in the right direction toward the blower fan. Finally, place the panel door back into position and switch the unit back on. That’s it!

Remember that HVAC systems work hard in the summer, too — usually even harder than during the cold months. For the overall comfort and health of your home, regular year-round filter checks are very important. Bite the bullet and make them part of your monthly home maintenance routine. If you need to get a new HVAC system check out these heating and cooling at wholesale prices.

 

 

 

Tips for building trust with luxury international buyers | Bedford Hills Real Estate

 

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Becoming a successful global luxury real estate agent is all about “relationships and reputation,” says The Corcoran Group’s Patricia Cliff, who estimates that 40 percent of her business is international.

Cliff, whose book, “The Art of Selling Luxury Real Estate,” was published this month, attributes her success not to heavy socializing, but to strategic relationships.

A senior vice president at Corcoran, Cliff shared more insight into the topic in a conversation with Corcoran CEO Pamela Liebman during a panel discussion at Real Estate Connect New York City.

Agents are the spark that bring transactions to life, Liebman said. That’s why Corcoran’s new website, launched in November, integrated social media so thoroughly into its design. “Our website has become a hub for online relationships,” she said.

When Cliff travels, looking to establish relationships or maintain the ones she has, she hosts no lavish parties, but instead focuses on cultivating trusted personal relationships. She picks out two to five of the most valuable contacts in a certain place and sets up meetings with them in advance.


Patricia Cliff

Or, if she doesn’t know some influential potential clients in a place, she looks to enter their spheres. For example, when she went looking for high-end clients in Hong Kong, Cliff went to a jeweler to see about buying pearl and diamond earrings in the hope of sparking a relationship with the jeweler. She employed the same strategy with a Rolls-Royce dealer and private bankers.

Cliff said she helped establish her reputation as a valuable expert for potential clients by writing a 28-page booklet describing the ins and outs of doing real estate transaction in New York City, distributing it to clients early on in a relationship. The booklet also made her life easier, she said — she didn’t have to repeat herself with the same detailed explanations of how to navigate the New York City real estate world over and over again.

When hosting a potential client in the U.S., Cliff said, it’s important to cast a “net” around them and provide an attentive, high level of service, in order to prevent other agents or brokers from swooping in to represent them. And try not to leave clients until a contract is signed. If they’re visiting New York City, for example, the excitement of being in the city and the agent’s enthusiasm creates the ideal atmosphere to close the deal, she said.


Pamela Liebman

Liebman said that sometimes agents will say “you won’t see me for a couple of days,” because they have a client coming into town, and their every waking hour will be committed to taking care of their needs and providing the exceptional, top-level service that many luxury real estate buyers and sellers expect and are accustomed to.

But before getting too caught up in their zeal to capture high-end clients — and a big pay day — it’s important that agents know who they’re dealing with. Potential clients may not have accessible assets in U.S. banks, and since 9/11 moving money into the U.S. has become much more difficult, Cliff said.

Banks are beholden to a “Know Your Customer” provision of 2001’s U.S. Patriot Act that requires banks and financial institutions to add measures to restrict funds associated with terrorist financing and money laundering, which can hamstring otherwise promising deals, Cliff said.

In fact, Cliff said, at one point the FBI had placed her under investigation because of a relationship with a former client, though she knew him only through intermediaries.

At the end of the day, Liebman said, agents who want to deal in luxury real estate can do themselves some good by being in New York City, and knowing a little about its architecture, history and the real estate conversations that happen around the world.