‘Shadow’ Real Estate Inventory May Spell Good Deals For New York City Renters

NEW YORK (CBSNewYork) – Despite a mass exodus during the pandemic, many apartment buildings are not listing all available apartments – but some renters are finding hidden gems, with a little bit of digging.

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Alison Raisian, a marketing professional, recently moved into a new apartment with more space than her previous one, plus a rent savings of more than $200.

Her studio was $2,759 a month. Now, for a one bedroom, she pays $2,533 – in the same building.

“It took some digging to find that there are more apartments out there, even just in my own building.” Raisian told CBS2’s Dave Carlin.

MoreMayor Bill De Blasio, Moving Companies Weigh In On NYC Real Estate Debate: How Many People Are Leaving The City?

Four units there were listed online as available. But then, going floor by floor and talking to fellow residents and staff, she learned many more were empty.

“They were saying 6{ac967ad544075fb2f6bcea1234f8d91da186cac15e616dc329e302b7c7326b8c} vacancy publicly, but then it was speculated that it was 18{ac967ad544075fb2f6bcea1234f8d91da186cac15e616dc329e302b7c7326b8c},” Raisian said.

“I think there is a widespread acceptance among a lot of landlords now that the market has changed,” said Erin Hudson, real estate reporter at The Real Deal.

People

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Realogy Exec: 3 Ways the Pandemic Changed Real Estate for Good

Realogy expansion brands released a new 27-page oral history of the pandemic and how it has altered the industry.

From the early days of the pandemic and through the housing market explosion, the real estate industry has been moving fast, leaving little time for reflection.

Sherry Chris | Photo credit: BHGRE

But a new undertaking from Realogy’s expansion brands portfolio — which encompasses ERA Real Estate and Better Homes and Gardens Real Estate — attempted to catalog what’s taken place over the past year and the lessons learned.

“We really wanted to capture what had taken place over the past several months in the hopes that — and this is exactly what happened — some best practices would emerge that we would be able to share within the Realogy expansion brands, and with the industry as a whole,” Sherry Chris, the CEO of Realogy expansion brands, told Inman.

Chris and the team at Realogy decided who better to tell the story than those who lived it? The result is a 27-page oral history, with interviews and insight from more than a dozen broker-owners under the Realogy flag, titled, Real Estate in the Time of COVID.

Chris, in compiling the

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Why Real Estate Properties are Good Investments

Quezon City, Metro Manila—January 2020— Every story of a persevering Filipino, especially an Overseas Filipino Worker (OFW) is inspiring. As modern-day heroes, they chose to go abroad, far from home, seize opportunities, reach their dreams and aspirations, and provide for their families through their hard-earned money.



Vic Sotto standing next to a boat


© Provided by LionhearTV


However, due to the pandemic, their savings might be spent on more immediate needs, especially since the current situation put the country’s economy into recession. That is why financial experts say that OFWs should consider putting their extra income into long-term investments, like real estate properties.

Take it from Bossing Vic Sotto, who has seen the importance and advantages of having property investments that he considers safe and a good source of passive income, especially for OFWs considering retirement.

“Investing in property is one investment that OFWs won’t regret, as long as they carefully plan ahead to make it successful. When you have done it right, you will reap the fruits of your labor,” Bossing said.

If you are an OFW, Bossing wants to show you why investing in properties can be the long-term investment plan for you.

Properties have a predictable cash flow. One of the benefits of

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Good news! Real Estate Sentiment scores at a year-high in Q4 2020



a woman holding a sign: The residential segment outlook was supported by pent-up demand, festive demand, multi-decadal low home loan interest rates, attractive residential prices and state government incentives such as reduction of stamp duty in Maharashtra.


© Provided by The Financial Express
The residential segment outlook was supported by pent-up demand, festive demand, multi-decadal low home loan interest rates, attractive residential prices and state government incentives such as reduction of stamp duty in Maharashtra.

The Current Sentiment score jumped considerably to 54 in Q4 2020 from 40 in Q3 2020, entering the optimistic zone for the first time in 2020, reveals the 27th Edition of Knight Frank-FICCI-NAREDCO Real Estate Sentiment Index Q4 2020 (October-December 2020) Survey. The score had turned negative in Q1 2020 after the COVID-19 outbreak and had remained in the pessimistic zone during Q2 2020, as the impact of the stringent lockdowns became apparent on businesses. It revived in Q3 2020 on the back of improving economic health and pent-up demand.

The residential segment outlook was supported by pent-up demand, festive demand, multi-decadal low home loan interest rates, attractive residential prices and state government incentives such as reduction of stamp duty in Maharashtra. Residential sales reached pre-COVID levels (2019 quarterly average) by Q4 2020.

The Future Sentiment score also climbed up to 65 in Q4 2020 from 52 in Q3 2020, mirroring the strong recovery expectations prevalent in the market. Stirring demand and

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