Saturday, February 28, 2015
This is an interesting article from the WSJ on the benefits of practicing mindfulness meditation by school children.
Living in NYC is very stressful to say the least and certainly our children have a lot on their plates as they navigate the city, play dates, school, clubs, sports and friendships etc. I think many of the stresses build up slowly over time, years of exposure to the sights, situations and sounds of city life. It can take a toll on you both physically and emotionally (and you may not even be aware of it). I would become very aware of it on our trips to Costa Rica. After a day there I felt as if a heavy coat had been removed from my entire being!
What initially drew me in was the science behind it, I think it was a study done by Harvard researchers on the brains of Buddhist monks in Tibet. They learned some things that were thought not possible regarding brain function.
Finding and actually closing on a home in this market, mindfulness may be a worthwhile consideration! Even my beloved, yet not very mindful mother would say "Breathe" Keith.
Tuesday, February 24, 2015
|Question: I am a New York real estate broker and will be closing a transaction in a few days. Am I allowed to share a portion of my commission with either the seller or the buyer in the transaction? I was informed that the law in New York on this issue was recently amended.|
Answer: Yes. The New York State Department of State (the “DOS”) has consistently taken the position that New York real estate brokers may share a portion of their commission with a purchaser, seller, landlord or tenant in such transaction (a “Party to the Transaction”). For example, a real estate broker who is representing a purchaser may give the purchaser a $5,000 gift card.Recently, Section 442 (2) of Article 12-A of the Real Property Law was amended to reflect the position taken by the DOS. Section 442 (2) now states, in part:
Tuesday, February 17, 2015
We kept it simple as well as clean with a link to StreetEasy so with one click you have access to all NYC property listings. Perhaps in the future we'll add some additional tools and features to enhance the experience.
Our business model was created by listening to buyers and sellers express what they liked and did not like about their experiences in real estate. Please feel free to contact me with any suggestions regarding our website.
Wednesday, February 11, 2015
Thursday, February 5, 2015
Another 'Best and Final' with a promise that we had a deal and there would be no backing out by the seller and still I get a call telling me "the seller has elected to proceed with another deal". Buyer beware, even after you go through a gut wrenching bidding process and receive the great news that 'You won!' it ain't over til the fat lady sings(meaning you close). Yet again we have learned this the hard way. I knew something was up when it had been 3 days and no contract, though I thought they were waiting for the results from our inspection before sending one out. I discussed this with my client however she was confident the seller/broker would honor their pledge to us, hey, they even let us go ahead with a planned inspection that cost my client $800, then pulled the plug on us the following day!
Not very cool to say the least. They were obviously working on this deal while we had an inspection and interior designer visit the apartment. Unfortunately my very rational client had become emotionally attached at this point, imagining her new life in Brooklyn. A sort of reality check on buying real estate in NYC in today's low inventory, strong demand market.
I am 100% for free markets. I'll even go as far as to say I don't take issue with the 'best and final process'. We all know what can transpire and 'best and final' is just a sort of vague idea, not an absolute end. What I do take issue with is when we have what I call a 'cyber handshake' from the seller, when we are given an assurance that we have an ironclad deal, no mucking around once it is accepted. Ivan Boesky infamously stated that "Greed is good", I don't necessarily agree with that. I think our word is priceless and mine is not for sale.
I'll add that I don't think this is a broker issue, this is a seller issue. For many reasons a broker wants to proceed with the accepted deal. They know this is usually the best course to follow ethically, karmically and financially. Financially meaning that if the newly accepted offer blows up, you most likely will lose the original deal. The saying "what a tangled web we weave" could be inserted here, nothing like a few botched negotiations to throw a listing into the abyss.