tag:blogger.com,1999:blog-52041532781374551612024-03-13T06:36:20.678-04:00Back to the Old House"Our Clients Best and Highest Needs Come Before Everything Else"
Over $80,000,000 in total sales in 2016! Thank you!Back to the Old Househttp://www.blogger.com/profile/05357214628671940548noreply@blogger.comBlogger346125tag:blogger.com,1999:blog-5204153278137455161.post-61396857506598656962020-10-12T00:00:00.001-04:002020-10-12T00:00:03.130-04:00Lou Holtz Talking the Talk<p> “Your talent determines what you can do. Your motivation determines how much you’re willing to do. Your attitude determines how well you do it.” </p><p><br /></p><p>― Lou Holtz</p>Back to the Old Househttp://www.blogger.com/profile/05357214628671940548noreply@blogger.com3tag:blogger.com,1999:blog-5204153278137455161.post-26449729948448113682020-10-11T10:45:00.008-04:002020-10-11T10:45:48.786-04:00"New York City Real Estate Rebounds"<p> Property buying in the suburbs is starting to wane. I thought for those making the leap into unknown areas, probably would have been best to rent initially, get a lay of the land and determine if it's a good fit for your family.</p><p>Brooklyn has shown some relative strength, it's certainly where we've been busiest. Over the last two weeks we're starting to see things pick up in Manhattan as well.</p><p><br /></p><p>https://www.nytimes.com/2020/10/09/realestate/new-york-city-real-estate-return.html</p>Back to the Old Househttp://www.blogger.com/profile/05357214628671940548noreply@blogger.com0tag:blogger.com,1999:blog-5204153278137455161.post-69900845893204803182020-09-24T09:32:00.006-04:002020-09-24T09:32:40.361-04:00Go Brooklyn!<p> I'm glad to see the data is supporting what we've been experiencing. We are running on fumes in Brooklyn, meaning we are busy!</p><p><br /></p><p>The New York Times: Home Sales Surge in Brooklyn.</p><p>https://www.nytimes.com/2020/09/24/realestate/brooklyn-real-estate-sales.html</p>Back to the Old Househttp://www.blogger.com/profile/05357214628671940548noreply@blogger.com0tag:blogger.com,1999:blog-5204153278137455161.post-24007184198379746322020-09-16T10:39:00.004-04:002020-09-16T10:39:57.134-04:00Should you be wary of dual agency?<p> https://www.dos.ny.gov/cnsl/dualagcy.html</p>Back to the Old Househttp://www.blogger.com/profile/05357214628671940548noreply@blogger.com0tag:blogger.com,1999:blog-5204153278137455161.post-42037033683444717072020-09-09T19:03:00.002-04:002020-09-09T19:03:13.652-04:00Brooklyn townhouse Market remains strong<p> The Real Deal: Pricey Park Slope townhouses drive dealmaking in Brooklyn.</p><p>https://therealdeal.com/2020/09/09/pricey-park-slope-townhouses-drive-dealmaking-in-brooklyn/</p>Back to the Old Househttp://www.blogger.com/profile/05357214628671940548noreply@blogger.com0tag:blogger.com,1999:blog-5204153278137455161.post-20080129234700541442020-09-09T12:45:00.003-04:002020-09-09T12:45:48.621-04:00Currently Rates (Wells Fargo)<p>Current Mortgage Rates for NEW YORK COUNTY, NY</p><p><br /></p><p>Jumbo</p><p>Loan Type<span style="white-space: pre;"> </span>MI Type<span style="white-space: pre;"> </span>Interest Rate<span style="white-space: pre;"> </span>APR</p><p>Jumbo 30-yr fixed<span style="white-space: pre;"> </span>2.875%<span style="white-space: pre;"> </span>2.926%</p><p>Jumbo 15-yr fixed<span style="white-space: pre;"> </span>2.625%<span style="white-space: pre;"> </span>2.700%</p><p>Jumbo 5/1 ARM<span style="white-space: pre;"> </span>2.250%<span style="white-space: pre;"> </span>2.538%</p><p>Jumbo 7/1 ARM<span style="white-space: pre;"> </span>2.250%<span style="white-space: pre;"> </span>2.505%</p><p>Jumbo 10/1 ARM<span style="white-space: pre;"> </span>2.500%<span style="white-space: pre;"> </span>2.581%</p>Back to the Old Househttp://www.blogger.com/profile/05357214628671940548noreply@blogger.com0tag:blogger.com,1999:blog-5204153278137455161.post-3014318264483714662020-08-05T22:55:00.005-04:002020-08-05T22:55:30.614-04:00No Sleep Till BrooklynWe've actually been quite busy in Brooklyn, couple of townhouse deals, three accepted offers over the last 10 days...<div><br /></div><div><div>The Real Deal: Brooklyn’s luxury market reaches new pandemic high.</div><div>https://therealdeal.com/2020/08/04/brooklyns-luxury-market-reaches-new-pandemic-high/</div></div>Back to the Old Househttp://www.blogger.com/profile/05357214628671940548noreply@blogger.com0tag:blogger.com,1999:blog-5204153278137455161.post-49861173565270861212020-07-11T10:59:00.001-04:002020-08-05T22:53:55.216-04:00Concessions being offered by Brooklyn Developer<br />
<br />
Hope you are enjoying SUMMER. Our developer is now offering NEW concessions to get deals done on 3 New Development condo projects. Please send to your buyers list. <br />
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<br />
CONCESSIONS paid at CLOSING:<br />
✅. 1/2 year of common charges<br />
✅ 1/2 year of taxes<br />
✅ $5,000 CASH at closing for furnishing your new home.<br />
<br />
Here are the virtual packets for each development. None of the marketing material has our information on it so you can feel free to send to your clients.<br />
<br />
Current price list and availability<br />
All of the floor plans<br />
A PDF of the InHouse Magazine issue<br />
Virtual walkthrough videos<br />
Features list<br />
Here are the links to each of the 3 condo developments:<br />
21 North Henry Street<br />
278 Nassau Avenue<br />
450 Hart Street<br />
This material doesn't have our contact information included, so feel free to include yours.<br />
<br />
If you would like to show anything, we have may options to offer you and your buyer:<br />
Contactless showings , Zoom/FaceTime walk-throughs, Key access via lockboxes for private and alone viewings, an InHouse agent can meet your buyer on your behalf if you can't make it.Back to the Old Househttp://www.blogger.com/profile/05357214628671940548noreply@blogger.com0tag:blogger.com,1999:blog-5204153278137455161.post-10703767440958992772020-07-05T19:47:00.001-04:002020-08-05T22:53:55.463-04:00Why covid-19 won't be the end of big Cities<a href="https://www.cnn.com/videos/world/2020/07/05/big-cities-coronavirus-fareeds-take-gps-vpx.cnn">https://www.cnn.com/videos/world/2020/07/05/big-cities-coronavirus-fareeds-take-gps-vpx.cnn</a>Back to the Old Househttp://www.blogger.com/profile/05357214628671940548noreply@blogger.com0tag:blogger.com,1999:blog-5204153278137455161.post-6731836009959677312020-06-09T11:43:00.000-04:002020-08-05T22:53:55.475-04:00Data points on negotiability;From Fritz Frigan;<br />
<br />
And in the end, I am sharing with you again the analysis of 105 offers you sent or received in the period from March 22 to May 8:<br />
<br />
<br />
1. The average difference between ALL offer prices and ALL ask prices was 13.79%. (105 replies)<br />
2. The average difference between offer and ask in deals that were ACCEPTED was 6.78% (40 replies)<br />
3. The average difference between offer and ask in deals that were REJECTED was 18.10% (65 replies)Back to the Old Househttp://www.blogger.com/profile/05357214628671940548noreply@blogger.com0tag:blogger.com,1999:blog-5204153278137455161.post-65184623849658940522020-06-08T11:58:00.001-04:002020-08-05T22:53:55.491-04:00We really need to see each other in these difficult timeshttps://youtu.be/MBLji5dMS_k<a href="https://youtu.be/MBLji5dMS_k" target="_blank">We need to recognize each other as human beings. In the heat of the battle, of life we can forget how much we all share in common. Jocko tells a nice story here.</a>Back to the Old Househttp://www.blogger.com/profile/05357214628671940548noreply@blogger.com0tag:blogger.com,1999:blog-5204153278137455161.post-9375767739929435432020-05-13T09:59:00.002-04:002020-08-05T22:53:55.503-04:00Covid-19 and NYC Real EstateSo we're in the middle of a shitstorm, one that only those with the wildest imagination could have predicted. A few short months ago the stock market was making record highs and real estate was on the move up across the country. We're in a different world right now.<br />
<br />
Things are very bad and they're not going to get better for real estate anytime soon. We're most certainly heading into a protracted buyer's market. So if you're currently looking to purchase, you've won the market timing wheel of fortune. This is not the time to sell, unless you've got the proverbial gun to your head. No different than trying to sell equities into a bear market, keep calm and carry on.
This is not the end of the world for New York City real estate, although it might feel that way, ignore all the noise from the haters and the armchair pundits. History teaches us that the world has survived pandemics, wars and pestilence since time immémorial.
Just like I've held stocks for years through bear markets, you should have the same mindset about real estate and not panic sell.<br />
<br />
As bad as it seems, the fact is approximately 99.5% of people that contract covid-19 are going to be fine according epidemiologists. There is a path to getting out of this.
I recognize that this is a different animal, we are in unchartered emotional waters. However, just like we saw with the AIDS crisis, medications will be developed that will be game changers for this virus. And just like with AIDS, there will be a new normal and different behavioral patterns that emerge. And before you get your knickers in a twist about comparing this to AIDS, I'm simply talking about the ability of scientists to create treatments against this virus.<br />
<br />
What now?
If you're a buyer and someone that's committed to wanting to continue living in New York City, be patient and set up those searches on streeteasy. This is the time to make aggressive offers, fear is in the marketplace. Sellers are going to have to decide to accept an unpalatable bid today or perhaps take less 3 months from now.
If you're a seller that absolutely has to sell, it's time to get real. Your apartment is probably worth somewhere between 5 and 20% less than it was on January 1st, depending on what you own and where it's located. We've essentially lost the spring, that said I think we could potentially see an uptick in buyer activity in July and August. Why? If covid-19 activity continues to quiet in the city and things begin to open up, July and August could become the new April- May, for this year anyway. Of course I'm not talking about April- May traditional activity, but I think you get the point.<br />
<br />
The bottom line is buyers and sellers can't both be happy at the same time. So just hang in there, stay healthy and be smart. The game changer will be when you can get a shot or take a pill and simply go on with your life without fear. When that happens, and it will, things will indeed get back to normal!<br />
<br />
KeithBack to the Old Househttp://www.blogger.com/profile/05357214628671940548noreply@blogger.com0tag:blogger.com,1999:blog-5204153278137455161.post-7638849593242305162020-04-25T19:22:00.000-04:002020-08-05T22:53:55.515-04:00Newsletter: Coronavirus Edition
Spring 2020
The Burkhardt Group
Some thoughts and insights about the NYC real estate market during these unprecedented times!
Visit our Website
Overview
Hello! Hoping of course that everyone is making the best of the present situation we all find ourselves in. While January/February were only a few months ago, marked by a roaring stock market and the busiest start to the new year for The Burkhardt Group since inception, it’s amazing how distant that feels in the whirlwind of the pandemic that we’ve seemingly just started getting to the other side of.
I don’t think there is much need to regurgitate the obvious talking points that we’ve all been awash in. That being said, to quickly recap: basically the global economy took a historically massive nosedive, and while we have seen steady stock market gains since late March, we still have a service industry of fragile workers currently experiencing a major trauma (our thoughts and prayers with them all).
So, with all that in perspective, what is happening with the current NYC real estate market? For the most part, the ability to buy and sell property has been predictably hamstrung. Physical showings have been stalled, managing agents are working from home; banks, attorneys and title companies are operating remotely. All that being considered, we are continuing with business, even if at a snail's pace for the time being! But as a business defined by a living, social network of agents, buyers and sellers, we have to move forward, we have to stay relevant.
Manhattan Snapshot
A Rundown on our Current Day to Day
Closings:
On the new virtual front, we have completed two remote closings with a couple of more scheduled. All in all, they went off without a hitch, albeit with a great deal of extra effort. Our attorneys are telling us that it requires about 5X the amount of time and work to get a closing scheduled and completed. That being said, closing a condo or townhouse is certainly easier than closing a co-op, and being all cash makes things even a bit easier.
I'll spare you all the rigmarole we have to go through, but essentially, it entails multiple FedEx mailings along with bank wires, a notary public, FaceTiming with your attorney and arranging a final walk-through (which is typically done with video, Zoom or FaceTime). With all that being said, what has been really terrific is the high level of cooperation between everyone involved in this awkward new dance needed to close a real estate transaction!
New Business:
We have a handful of offers currently out--and by a handful I mean three-- but all things considered, that's actually quite good! I've also received a number of calls from new buyer clients whom I would describe as having a healthy appetite for opportunity: basically looking for sellers willing to price in a discount based on current circumstances. The problem is, it's going to be months until we have enough deals closed before we can really quantify what that new market bottom will be. While I typically avoid making broad speculations that are not based in any solid quantifiable resource, my general feeling is that depending on the initial pricing and specifics of the apartment, we're probably going to see somewhere between 10-20% discounts.
The early buyers will see the best deals,
just as we've seen with other market fiascoes. The specific circumstances of this downturn being what they are however, it definitely appears the primary buyer pool in our NYC real estate market doesn't appear to be at risk for significant layoffs.
--Layoffs were, however, something that we saw after the 2008 crash: not only did a lot of people actually lose their jobs, the ones who didn't were certainly fearful of future job loss. A pandemic certainly creates its own very specific and unique problems that we have to deal with, particularly in regards to loss of life. However, as horrific as all that is, it certainly could be much worse, and there seems to be a sharp divide between job loss within the service industry versus job preservation for those capable of remote work in partial or total capacity.
It's difficult to predict when things will get back to normal or at least some sort of normal, but the overall trajectory seems to be trending towards optimistic, all voices considered. Rates of infection and number of deaths seem to be stabilizing (and even declining in certain areas) and with the development of medications to treat the disease and of course a vaccine to prevent it, we'll get past this! Now I'm not an analyst or an economist, simply a lowly real estate broker, however, I do believe we will see a strong return of the economy once we get this behind us. I can definitely see the bright lights at the end of the tunnel. I think everyone will be going at maximum capacity to get back to where they were pre-coronavirus. I refuse to dwell on the negative, we need to remain positive and know we will pierce through the clouds and see blue skies again. And this isn’t just some dreamy metaphor, it’s an opinion based in history and science.
Where do we go from here:
We currently have 15 deals in contract and all 15 buyers are focused on closing. I don't want to speak for everyone, but I think it involves a mixture of financial and emotional components. A big part of buying a new home is wanting to get into that special, safe place to be with your family during these difficult times. In some cases people are buying what I would call their dream home or what some have told me is to be their forever home. The Burkhardt Group started just before the financial crash of 2008. After the crash, some, filled with fear and uncertainty, decided to walk away from contract deposits. And, at least from a financial standpoint, that proved to be an incorrect decision in almost all cases. Others have told me this situation re-enforced their desire to hold a portion of their assets in real estate, specifically a home that they will live in and enjoy. Buying a home is the true set-it-and-forget-it investment. Unlike watching my financial portfolio, I'm not googling my zestimate three times a day!
Contracts that we had out (6) and ready to sign in March have all been put on hold, with the exception of two that went forward with signing. The others are all taking a wait-and-see approach, and a few clients have already called me to discuss the current market. I feel pretty certain all these buyers will be back either trying to close the deals they started, or perhaps looking for other deals. We have also conducted a few virtual showings through Zoom with clients that continue to look for a new home, pandemic be damned. Even though we're thinking it could be a prudent decision to wait one to two months if you are a buyer, if you did find that dream home now and can get the appropriate discount, I don't see any reason not to move forward with a purchase.
I was listening to an interview with Noah Rosenblatt, the CEO and founder of Urbandigs.com, the greatest resource in New York for finding statistical data on sales, price trends, et cetera. He signed a contract on an apartment just after 9/11, and if you go to his YouTube channel/Twitter account, you can listen to the interview. The interview contains a lot of very good insights with lots of important information about what to expect when buying an apartment when there's panic in the streets. Additionally, there is certainly another concern for some of our in-contract buyer clients: the potential destruction of their financial portfolios. The good news is, as I write this, the NASDAQ is only down 5% year-to-date-- absolutely unbelievable. I'm certain that plenty of you, whether buying or not buying real estate, raised some additional cash recently!
Closing Remarks and well wishes:
I think most people reading this newsletter are probably in pretty good shape, relatively speaking. But my heart really breaks for those that were working in low/moderate paying service jobs that were all but wiped out! People that were living paycheck-to-paycheck, with rent to pay and food that has to be put on the table every night for their families or themselves. Not only am I saying a prayer for these folks every night, we're also trying to give what we can to charities that will assist them get through these difficult times. And of course enough can't be said for all those on the front lines that have continued to work; from delivery people and postal workers, police EMTs and firefighters to sanitation workers along with all the brave medical professionals facing this beast head on!
We will get through this, and I truly believe that we will come out a better people, a better country, and a better world, having all gone through this together! I send my love and blessings to all of you, I truly look forward to working with everybody in the near future!
Best,
Keith
917.770.4951
Back to the Old Househttp://www.blogger.com/profile/05357214628671940548noreply@blogger.com0tag:blogger.com,1999:blog-5204153278137455161.post-56476883436862056002020-04-06T22:05:00.001-04:002020-08-05T22:53:55.528-04:00Help us help covid 19 Frontline workers! Help us help those on the front lines of covid-19! We'll donate our portion of the commission! Let's do this!
The Burkhardt Group will donate our entire buy-side commission—less paying the buyer our standard commission rebate—from one deal that goes into contract from today through August to the Greater New York Hospital Association COVID-19 Emergency Relief Fund. You can read more about what they do to support the work of New York’s hospitals.
Because current stay-at-home restrictions (and commonsense safety precautions) do not allow for traditional resale searches at this time, we are extending this offer to new buyers who have narrowed their search to a sponsor condominium/new development deal valued at $1,000,000 or more. The higher the property value, the higher the commission percentage that we can donate towards assisting the frontline medical professionals and resource-strapped hospitals who need all the help we can give right now.
keith@theburkhardtgroup.com (Subject line Covid-19)
#covid19resources #covid19 #wereinthistogether Back to the Old Househttp://www.blogger.com/profile/05357214628671940548noreply@blogger.com0tag:blogger.com,1999:blog-5204153278137455161.post-90922725479050871592020-03-28T14:39:00.001-04:002020-08-05T22:53:55.540-04:00A great no-nonsense interview with Doctor Faucihttps://youtu.be/r3miPW-wkfkBack to the Old Househttp://www.blogger.com/profile/05357214628671940548noreply@blogger.com0tag:blogger.com,1999:blog-5204153278137455161.post-44842477814128513852020-02-15T15:45:00.000-05:002020-08-05T22:53:55.552-04:00A recent analysis we did of a property for a clientHere's a recent analysis that Norman did for a client. This is the level of service you can expect from the Burkhardt team regarding any property you may be interested in purchasing:<br />
<br />
<br />
<br />
"Nice to meet you! I took a look at the listing and put together some comments on pricing.<br />
<br />
So first of all, I personally love the Lincoln Square area, and it's a neighborhood that has really retained value for being such a major cultural and transportation artery. Proximity to the park is, obviously, always a plus as well.<br />
<br />
First a question: Is there a washer/dryer in unit? It says so on the floorplan, but there's nothing about it in the listing despite mentioning the central building laundry. I'm going to go ahead and just treat it like there isn't a W/D, but if there is, we can make that mental correction.<br />
<br />
There haven't been any recent sales in the building itself that we can use as "true" comps, so I had to go out into the surrounding blocks to find a more instructive way to view pricing. I looked at all of the sales in the neighborhood in the past 6 months and from a neighborhood and configuration perspective, two sales came closest: The first, at 91 Central Park West (at West 69th Street), is Unit 2F. It lines up with the unit you're looking at in that it was also a 2BR near ground level, it is comparable in size, and it also needed a fair amount of renovation. It differs from your unit in that this has an extra bathroom, a washer-dryer in unit. and is also in a doorman building with a gym and children's playroom. 91 CPW #2F was listed at $1.25mm, but traded well below ask at $995,000 in August after 196 days on market.<br />
<br />
119 71st Street #5D is only one block up and was a newly renovated 2BR/1BA sponsor unit—standard grade renovation, but renovated nonetheless. The overall footprint is slightly smaller than your unit, but it has a washer/dryer in unit and sits on the fifth story—which would be arguably better natural light. This was listed for $975,000 and traded close to it in October for $965,000, after 36 days on market.<br />
<br />
So where does that leave us? At their reduced price of $945,000, they are definitely sitting within striking distance of fair market value on this one. But current market conditions are certainly unfavorable to sellers, and I can see buyers wanting shave some more off the price for a number of reasons: The bars on the windows, for example, are always a reminder of being on the ground floor. Being on the ground floor, you do run the risk of added noise (and less natural light) that other units higher up don't deal with as much. The bathroom... Well, it needs help. The kitchen too, to a lesser extent. And finally, what are those two gigantic units in the bedroom? Is that the HVAC? It seems visibly and physically intrusive to the room. In my opinion, these are all reasons to try to negotiate down.<br />
<br />
I suspect that the other buyer with whom they haven't come to terms with is probably on the wavelength as well, and if I had to guess, I'd say their offer is closer to $900,000. If I had to put a finger on it, I'd still want to see this land somewhere between $900-925,000—but after 90 days, the seller might not be able to deal with that reality. The fact is, though, that just down the block, closer to West End Ave, you can get a large 2BR/1BA in a full-service building for the same asking price in one of the city's most well-known co-ops, Lincoln Towers. (https://streeteasy.com/building/lincoln-towers-205-west-end-avenue-new_york/20l) It's obviously a very different kind of building, but it shows you what this unit is up against in terms of what other inventory there is out there. So again, unless there's something major I'm missing, I would personally cap this one at $925,000.<br />
<br />
That's my two cents. Let me know what your thinking on this was.<br />
<br />
Thanks!<br />
Norman<br />
<br />
<br />
—<br />
Norman Brannon<br />
Licensed Real Estate Salesperson<br />
The Burkhardt Group"Back to the Old Househttp://www.blogger.com/profile/05357214628671940548noreply@blogger.com0tag:blogger.com,1999:blog-5204153278137455161.post-19191088397403180902020-02-05T11:03:00.000-05:002020-08-05T22:53:55.565-04:00Help Zoey raise money for JDRF! (Type 1 diabetes)<br />
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<iframe allowfullscreen='allowfullscreen' webkitallowfullscreen='webkitallowfullscreen' mozallowfullscreen='mozallowfullscreen' width='320' height='266' src='https://www.blogger.com/video.g?token=AD6v5dw4raOszRO6xCd5-BPgc6LMW47_CJAzGE8w1_NxYhy_e4aiiK7FLOVTnty43Up9XC4v8EpxWdOg9VKgHBKBdg' class='b-hbp-video b-uploaded' frameborder='0'></iframe></div>
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My daughter, Zoey, was diagnosed with type 1 diabetes in July of 2018. She's been an absolute trooper since those early and very dark days when she was first diagnosed. This is a chronic disease that affects millions of people around the world. It is also a very expensive disease. It can be financially devastating to those without insurance or adequate finances to afford even the basic necessities to stay healthy and alive, let alone the technology that allows one to live comfortable life why managing this 24-hour disease.<br />
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If you've got a few seconds click the link and make a small donation to our team that will be walking support of those with type 1 diabetes.<br />
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Thank you,<br />
<br />
Keith<br />
<br />
<a href="https://www2.jdrf.org/site/TR?fr_id=7935&pg=team&team_id=300177" target="_blank">Link to Donate to team Zoey</a><br />
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<br />Back to the Old Househttp://www.blogger.com/profile/05357214628671940548noreply@blogger.com0tag:blogger.com,1999:blog-5204153278137455161.post-38181447644634727122020-01-02T11:55:00.001-05:002020-08-05T22:53:55.580-04:00Happy New Year!I know I've been a bit lazy with getting new posts up here, but it's been a very interesting/busy last quarter. Without a doubt the market remains favorable to buyers, current data is not great, but it's also not horrible. And at least from where we're sitting there are plenty of buyers actively looking, however they remain very particular. I will have a more detailed year-end report around the second week of January.<br />
<br />
We are heading into the new year in a relatively strong position with about 13 deals in contract. We also had our last closing on New year's Eve, both parties needed to get the deal in for 2019, and it closed without a hitch. Here are some kind words from the buyer;<br />
<br />
"Thank you very much and our best to you as well for the new year. You have an excellent, highly professional team and we enjoyed working with them. We would not hesitate to use you again and to recommend you to our friends.
Regards,<br />
Bernie"<br />
<br />
Wishing everyone a very joyful, peaceful and prosperous New Year!<br />
<br />
Keith<br />
Keith@theburkhardtgroup.com<br />
<br />Back to the Old Househttp://www.blogger.com/profile/05357214628671940548noreply@blogger.com0tag:blogger.com,1999:blog-5204153278137455161.post-56896320335448970542019-10-24T14:04:00.001-04:002020-08-05T22:53:55.590-04:00Halstead open House index <b>I think this is a very interesting boots-on-the-ground report about what's happening every Sunday. Many thanks to Fritz Frigan at Halsted.</b><br />
<br />
Good afternoon Halstead Open House Index followers and contributors!<br />
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I'm sending today's report for the second time today. We've received reports of the first email going to people's spam folders. I hope you at least received this email and sorry for the inconvenience.<br />
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Here is our report from this past, rainy, weekend. What do you think? Was it just the rain? Or was it the combination of rain AND slow, buyers’ market that influenced the traffic last weekend?<br />
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The average for all of NYC dropped to 2.38, from 2.62 the weekend before. October is sliding (3.00 on October 6, 2.62 on October 13 and now 2.38 on October 20! Ouch!). The good news is that we almost broke a record in submissions of open house surveys – we received 424 replies this week, just six short from our record of 430, from October 6th. Keep it growing! More data we collect, better and more reliable the statistics and analysis will be. Try reading all the way to the end of this report, I have more questions (and answers) for all of you.<br />
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When 98 open houses, out of 424, did not have a single soul to attend, you know it was slow. 23% of open houses were super lonely! The infamous “Sgt. Pepper’s Lonely Hearts Club Band’ now has over 1000 members, all real estate agents and brokers from NYC!<br />
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The most visited open house last weekend was the one held by Andreas Mann of Douglas Elliman, at his first open house for his new exclusive at 146 West 86th Street in Manhattan. A 3BR, $2.6M co-op attracted 14 parties! Here is in Andreas’ own words: “Hi Fritz, We tried to be really careful on pricing.<br />
That was really it – and, it is in move in condition!”<br />
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Here I owe apology to Bahar Tavakolian from Compass. Last week she was the winner, and I referred to her as HE. Sorry Bahar. It was HER open house that attracted the most attendees on the weekend of October 13. (note to myself to check online bio and picture of every agent I mention in my weekly report).<br />
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Here is dataset. Let’s visit each borough:<br />
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Manhattan – tiny drop from the previous weekend: it was 2.26 last weekend, vs. 2.27 the weekend of October 13. I guess Manhattan is slow, rain or shine. Surprisingly busy in the Gramercy Park area (3.75) and Washington Heights (3.60). When Upper West Side scores 2.69, you just KNOW that the weekend was slow. Upper East Side was right there with 2.38. It must have rained harder on Sunday in Midtown East (1.76) and Midtown West (1.55). See the rest of the numbers below. Last year, on October 21st, 2018 weekend, the average in Manhattan was 2.20, from 299 open houses received. This week we got 320 results from Manhattan.<br />
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Brooklyn – the average tumbled to 2.87, from 4.19 the weekend prior. I do not recall when was the last time that the Brooklyn average dropped below 3.00. Above the average was in Park Slope (4.90), Williamsburg/Greenpoint (4.00), the rest was slow. Brooklyn Heights scored 1.71 and Brooklyn Other Areas just 1.87. See the rest of the numbers below. Last year, on October 21st, Brooklyn recorded 2.77 from 44 open houses. This week we received 68 replies from Brooklyn.<br />
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Bronx – the average nose-dived to 2.08, from 2.92 the weekend earlier. Again 13 replies from the Bronx county. See the number below.<br />
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Queens – attendance in Queens dropped 30% from the weekend prior: to 2.73, from 3.93 recorded on October 13. Above average in Queens Other Areas (4.83) and Forest Hills (3.25). Slow in LIC (1.43). See the rest below and watch for small sample sizes. Queens recorded 3.06 last year, on October 21st, 2018 weekend. We received 22 replies from Queens.Back to the Old Househttp://www.blogger.com/profile/05357214628671940548noreply@blogger.com0tag:blogger.com,1999:blog-5204153278137455161.post-35908864334357243192019-10-02T09:32:00.001-04:002020-08-05T22:53:55.602-04:00This is why we have no advertising budget! We don't need one!"Keith, Christian and Norman, we cannot thank you enough for guiding us through our new home purchase. Really appreciate your hard work, insight, responsiveness and attention to detail. We used Corcoran for our prior home purchase and we both whole-heartedly agree that our representation was much better this time around. You guys have built a very good business. I have been recommending you to all of my friends, some of whom are just about to enter the market (so I hope you get some calls soon!). Truly top-notch work. Thanks again.<br />
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Jason C."Back to the Old Househttp://www.blogger.com/profile/05357214628671940548noreply@blogger.com0tag:blogger.com,1999:blog-5204153278137455161.post-55128126713366384952019-07-19T10:58:00.002-04:002020-08-05T22:53:55.612-04:00Owner has Authorized us to Accept $1,299,000! Per owners instructions, we will not be changing the price in the RLS. This is a limited opportunity to make a great deal on a wonderful, bright Upper West Side two-bedroom!<br />
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<a href="http://www.theburkhardtgroup.com/175-west-93rd-street-6f" target="_blank">Click here to see this wonderful UWS 2 bedroom! </a>Back to the Old Househttp://www.blogger.com/profile/05357214628671940548noreply@blogger.com0tag:blogger.com,1999:blog-5204153278137455161.post-41877446076756304152019-07-17T13:39:00.000-04:002020-08-05T22:53:55.625-04:00Some Interesting Data from Fritz Frigan of Halstead<div class="separator" style="clear: both; text-align: center;">
<a href="https://1.bp.blogspot.com/-w0IRbuUvvlM/XS9b2glJXfI/AAAAAAAAdZU/KmGxL3CLW4UD4hnL6Bxj84gM6LUMm-tuQCLcBGAs/s1600/Screenshot_20190717-132640.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1600" data-original-width="800" height="320" src="https://1.bp.blogspot.com/-w0IRbuUvvlM/XS9b2glJXfI/AAAAAAAAdZU/KmGxL3CLW4UD4hnL6Bxj84gM6LUMm-tuQCLcBGAs/s320/Screenshot_20190717-132640.png" width="160" /></a></div>
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<a href="https://1.bp.blogspot.com/-GsYWZG9-X00/XS9cqcD48pI/AAAAAAAAdZc/kKRSAYow8GAuZyQYsAi3QfQVVXvRIn5kwCLcBGAs/s1600/Screenshot_20190717-133555.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1600" data-original-width="800" height="320" src="https://1.bp.blogspot.com/-GsYWZG9-X00/XS9cqcD48pI/AAAAAAAAdZc/kKRSAYow8GAuZyQYsAi3QfQVVXvRIn5kwCLcBGAs/s320/Screenshot_20190717-133555.png" width="160" /></a></div>
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"1. The downward trend in both charts for all four submarkets is unmistakable. Attendance started dropping off significantly after April 1, and particularly after May 1.<br />
2. Interesting how Upper East Side is marginally stronger than Midtown East and how they move in a sync.<br />
3. Very strong difference between Upper West Side and Midtown West in the first 3-4 months of this year….. Then in May and June UWS lost its momentum." Fritz Frigan, Halstead<br />
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If you're an agent or broker and you haven't already subscribed to his open house reports, I would suggest that you do.Back to the Old Househttp://www.blogger.com/profile/05357214628671940548noreply@blogger.com0tag:blogger.com,1999:blog-5204153278137455161.post-33634940472705768402019-07-17T13:34:00.001-04:002020-08-05T22:53:55.638-04:00<div class="separator" style="clear: both; text-align: center;">
<a href="https://1.bp.blogspot.com/-w0IRbuUvvlM/XS9b2glJXfI/AAAAAAAAdZU/KmGxL3CLW4UD4hnL6Bxj84gM6LUMm-tuQCLcBGAs/s1600/Screenshot_20190717-132640.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1600" data-original-width="800" height="320" src="https://1.bp.blogspot.com/-w0IRbuUvvlM/XS9b2glJXfI/AAAAAAAAdZU/KmGxL3CLW4UD4hnL6Bxj84gM6LUMm-tuQCLcBGAs/s320/Screenshot_20190717-132640.png" width="160" /></a></div>
<br />Back to the Old Househttp://www.blogger.com/profile/05357214628671940548noreply@blogger.com0tag:blogger.com,1999:blog-5204153278137455161.post-32708183341076182242019-07-04T03:46:00.001-04:002020-08-05T22:53:55.656-04:00Something I Have Said for Years! Not the Broker, the Price!If your home is listed across all necessary channels, shown on demand as required and it's still not selling after 2 months; it's the price, nothing else.<br />
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Read this great interview by one of the most successful brokers in NYC.</div>
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<a href="https://amp.businessinsider.com/nyc-luxury-broker-challenges-why-isnt-my-house-selling-2019-7" target="_blank">Why your home is not selling. It's not the marketing plan or your broker.</a></div>
Back to the Old Househttp://www.blogger.com/profile/05357214628671940548noreply@blogger.com0tag:blogger.com,1999:blog-5204153278137455161.post-24527285613731158062019-06-26T11:52:00.000-04:002020-08-05T22:53:55.669-04:00We Give Away Money!!!We provide an extremely high level of service, unlike any you've experienced in real estate. We provide 100% transparency and keep you looped in at all times throughout the process.<br />
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And then we give you a big check! What is not to love!??<br />
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Have a look at our testimonials. No wonder we are doing so well, even in a very difficult market.<br />
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<a href="http://www.theburkhardtgroup.com/testimonials">Testimonials</a><br />
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<br />Back to the Old Househttp://www.blogger.com/profile/05357214628671940548noreply@blogger.com0