Anyone that knows me, knows I surf. Mick Fanning is one of my favorites, solid guy and great surfer. Very happy he came out of this one okay.
Champion surfer attacked by shark on live TV http://www.cnbc.com/id/102845215
Monday, July 20, 2015
Saturday, July 4, 2015
Happy 4th of July!
Take a break from the real estate madness and have a wonderful weekend with your family and friends! I am trying to do the same!!
Tuesday, May 12, 2015
A Little Advice on Dealing With the Listing Agent(s)...
If you find yourself at an open house with a chance to chat with the agent, best to keep the questions to facts about the property. You will not get anywhere challenging the agent about price (even if it is seriously aspirational!) Two things to remember; the agent probably had a hand in determining the listing price. The agent will want to defend said listing price (at least for the first 30 days). Then at that point they may have to have that difficult conversation with the seller, the one about the price being too high. Many listing agents will pitch to a seller a price that is a aggressive though in this market anything is possible. And it is only human nature to list with the agent telling you he will get you that price.
I always felt that the market is more persuasive than just about any golden tongued sales person. Price a bit soft and let the market do it's thing, less time on the web and probably will attract multiple bids after the first open house. Sort of like investing in index funds, 90%+ of the time they will beat the active manager.
Back on topic. You corner the listing agent at an open house or private showing and hit him with data about the sale 2 floors above, 6 months ago that was 15% below the current ask of his listing; I can assure you the conversation won't go well. If the property was just listed your comments may just be brushed aside like an annoying mosquito. However if the home has been listed for 15+ days the agent may get a tad bit annoyed or perhaps unload a bomb on you! This is not a good way to begin a negotiation.
I'll wrap it up here. In short there is no advantage to telling the agent his property is 15% over valued.We have ways of presenting offers that are significantly below ask, we call it a "soft offer". Certainly there are times we feel our clients are off the mark with a valuation. In those cases we talk it through to try and understand each others position.
Sometimes the best thing to do is just get the conversation started, at least then there is the potential for success. If there is no discussion there is little hope for success.
I always felt that the market is more persuasive than just about any golden tongued sales person. Price a bit soft and let the market do it's thing, less time on the web and probably will attract multiple bids after the first open house. Sort of like investing in index funds, 90%+ of the time they will beat the active manager.
Back on topic. You corner the listing agent at an open house or private showing and hit him with data about the sale 2 floors above, 6 months ago that was 15% below the current ask of his listing; I can assure you the conversation won't go well. If the property was just listed your comments may just be brushed aside like an annoying mosquito. However if the home has been listed for 15+ days the agent may get a tad bit annoyed or perhaps unload a bomb on you! This is not a good way to begin a negotiation.
I'll wrap it up here. In short there is no advantage to telling the agent his property is 15% over valued.We have ways of presenting offers that are significantly below ask, we call it a "soft offer". Certainly there are times we feel our clients are off the mark with a valuation. In those cases we talk it through to try and understand each others position.
Sometimes the best thing to do is just get the conversation started, at least then there is the potential for success. If there is no discussion there is little hope for success.
Tuesday, May 5, 2015
Which Renovations Add the Most Value?
There really is no general answer to this, though it is widely accepted that money spent on bathrooms and the kitchen is well spent and will serve to increase value. I received an email from a client that recently closed and wanted to know if closing off a dining area to convert it into a bedroom was a smart idea; would it add value? They also wondered if they should refinish the current parquet or install new wood floors.
First I think as a new homeowner you should make changes that will improve your own quality of life in your new home. If in their case converting the dining area to an enclosed space made sense for their use, then by all means do it. If not then deal with it when you plan to sell, assess the market at that time and decide with your agent if it makes sense. Most buyers are going to prefer plank wood flooring over parquet. However if the parquet is in good shape or can be nicely refinished it probably won't be a deal breaker when you sell. If it's in the budget I think you will see a return on new wood flooring and I'm sure you will also enjoy living with it.
There is no question that money spent on the kitchen and bathroom will add value as well as make your home more desirable to buyers in the future. If you are looking to maximize return later on then stick with timeless, classic materials and design. Either way what you install today will be either considered out of style in 5+ years or dated (the idea is to age gracefully). I prefer a classic subway tile back splash in kitchens to the small multicolored glass tiles we are seeing a lot of today. Explore the different counter top materials available, stay neutral and think about wear and tear. Granite was the "it" material 15 years ago, today not so much. Though I still like granite if the pattern is a bit subdued. I always am a sucker for a white kitchen with white carrera marble counters. I know, not the most durable but even well worm with a nice patina, I still love it.
Another thing to factor in is where you live, what is your building like and what are the apartment valuations. If you live in a fairly typical, yet nice post war on the 2nd avenue you may not want to install a $150,000 custom kitchen along with $60,000 dollar bathrooms (especially if you are in a one bedroom!) Stay within the theme of your building (unless you just want what you want and can afford it).
You should also think back to the various homes you viewed..... What did you think of that red custom Italian kitchen? Gold fixtures seem to be back in fashion (why??). Were you tired of all the stainless steel appliances, how important was the flooring type etc. That will be a good guide as you make decisions about renovations in your new home.
NY Time article on which renovations add value.
First I think as a new homeowner you should make changes that will improve your own quality of life in your new home. If in their case converting the dining area to an enclosed space made sense for their use, then by all means do it. If not then deal with it when you plan to sell, assess the market at that time and decide with your agent if it makes sense. Most buyers are going to prefer plank wood flooring over parquet. However if the parquet is in good shape or can be nicely refinished it probably won't be a deal breaker when you sell. If it's in the budget I think you will see a return on new wood flooring and I'm sure you will also enjoy living with it.
There is no question that money spent on the kitchen and bathroom will add value as well as make your home more desirable to buyers in the future. If you are looking to maximize return later on then stick with timeless, classic materials and design. Either way what you install today will be either considered out of style in 5+ years or dated (the idea is to age gracefully). I prefer a classic subway tile back splash in kitchens to the small multicolored glass tiles we are seeing a lot of today. Explore the different counter top materials available, stay neutral and think about wear and tear. Granite was the "it" material 15 years ago, today not so much. Though I still like granite if the pattern is a bit subdued. I always am a sucker for a white kitchen with white carrera marble counters. I know, not the most durable but even well worm with a nice patina, I still love it.
Another thing to factor in is where you live, what is your building like and what are the apartment valuations. If you live in a fairly typical, yet nice post war on the 2nd avenue you may not want to install a $150,000 custom kitchen along with $60,000 dollar bathrooms (especially if you are in a one bedroom!) Stay within the theme of your building (unless you just want what you want and can afford it).
You should also think back to the various homes you viewed..... What did you think of that red custom Italian kitchen? Gold fixtures seem to be back in fashion (why??). Were you tired of all the stainless steel appliances, how important was the flooring type etc. That will be a good guide as you make decisions about renovations in your new home.
NY Time article on which renovations add value.
Thursday, April 30, 2015
This is Too Good Not to Share!
I must love what I do? I did not realize we worked with this lovely couple for several years!
"Keith, Christian, and Lance,
Wendy and I just wanted to sincerely thank you for all of your
patience, help, and advice these last several years during our NYC house hunt.
You guys saved us from a few poorly thought through purchases (thanks
Keith and Christian!) and have truly earned our trust and respect. We
both feel lucky to have had you guys as our agents. If/when we move on to
our next real estate deal in NYC, we will certainly be contacting you guys
again.
-Steve"
Tuesday, April 28, 2015
Yes, We Love Our Clients! And Happy to Say...They Love Us Back!
"Keith, Christian and Lance,
Thank you for guidance and support during our home search. We're delighted to be moving to 388 Bridge and are looking forward to living high above Downtown Brooklyn! The Burkhardt Team never let us down during our search and was always ready to make a call, send an email or meet us a property (sometimes more than once!) We were impressed by everyone's work, and are particularly happy that we had the chance to work with Christian the last several months. His calm, professional and friendly manner helped us always feel like were in good hands.
Thank you for guidance and support during our home search. We're delighted to be moving to 388 Bridge and are looking forward to living high above Downtown Brooklyn! The Burkhardt Team never let us down during our search and was always ready to make a call, send an email or meet us a property (sometimes more than once!) We were impressed by everyone's work, and are particularly happy that we had the chance to work with Christian the last several months. His calm, professional and friendly manner helped us always feel like were in good hands.
We hope to work with the team again in the future....just
not in the too near future! We'd like to settle in to this place for a couple
of years before scratching our itch to move to the next place! :-)
Take care, and best wishes for a successful 2015!
Tom and David"
Thursday, April 23, 2015
D.U.M.B.O - A Worthy Consideration for all Tribeca Devotees
I have always loved DUMBO and began visiting many years ago when Rice first opened there. Then I started going for the glorious hot chocolate of Jacques Torres. And it all tasted so much better after a nice bike ride and descending into the cobblestone streets of the neighborhood. Early on it was a bit thrown together but still very cool with artist events, the park on the water and a few galleries to peruse. As much as I loved the area I have to admit at the time I did not get the pricing. I also wondered if high-end buyers would flock to this area. After a few years of being cautious I had to reconsider my perspective, this was now another established, stable NYC neighborhood. See my problem was thinking that this would not stick, buyers would grow tired of the area and what was hot...would flop and those that purchased would be left in a lurch.
I have lived in NYC a long time and my consciousness is filled with the bust years of the 80's and lack luster sales market of the 90's. But the city itself has changed, there has been a paradigm shift of sorts, buyers buy to stay, put down roots or start a a family here with long term plans to stay. Back in the 80's, 90's most were here for a fling, after 5 years they were ready to move on. Back to the Midwest or the suburbs for a life that mirrored their past perhaps. I came and stayed and wound up raising a family in Chelsea and the West Village. No problem getting into West Village Nursery School, as a matter of fact we were the first second generation. My then wife went there in the 60's!
Most of you reading this will laugh if I tell you Soho and Tribeca were ghost towns at night. When we ate at Montrachet in the 80's, the patrons that took a car service from the UES would not wait in the street! This is not an exaggeration. I came to NYC and landed in the East Village in 1982 as a musician and part of the famed music scene at places like the Mudd Club, Maxes Kansas City and CBGBs. My mother cried when she saw where I lived! Burning cars were a typical occurrence on Avenue B, drug users lined up around the block to by their stuff out of a hole in an abandoned building. Everywhere you walked someone asked you "Works?" The paraphernalia for shooting heroin. Nope, we ain't going back to that in my lifetime. And if we do, there will be bigger things to worry about than real estate prices.
Wow I drifted a bit there, back to D.U.M.B.O! As noted in the piece from the StreetEasy blog this a a wonderful, diverse and dynamic neighborhood. There are some amazing developments in the area, from converted loft buildings to breathtaking modern high rises with views that will knock your socks off! These homes don't come cheap, not the discount one would expect of the Brooklyn of the past. But relatively speaking the pricing is quite compelling compared to similar new construction in Tribeca or resale there.
I understand it's not for everyone and we very rarely advise people on neighborhood choice. I just thought it was worth a mention, perhaps go have a look at some of the buildings mentioned in the blog on StreetEasy. Either way it is certainly a nice day trip on a weekend when you are staying in the city. yet another great thing about living in NYC, we often did "day trips" to different neighborhoods, from Arthur Avenue in the Bronx for great Italian food to a flea market in Park Slope. Take it all in and enjoy!
I have lived in NYC a long time and my consciousness is filled with the bust years of the 80's and lack luster sales market of the 90's. But the city itself has changed, there has been a paradigm shift of sorts, buyers buy to stay, put down roots or start a a family here with long term plans to stay. Back in the 80's, 90's most were here for a fling, after 5 years they were ready to move on. Back to the Midwest or the suburbs for a life that mirrored their past perhaps. I came and stayed and wound up raising a family in Chelsea and the West Village. No problem getting into West Village Nursery School, as a matter of fact we were the first second generation. My then wife went there in the 60's!
Most of you reading this will laugh if I tell you Soho and Tribeca were ghost towns at night. When we ate at Montrachet in the 80's, the patrons that took a car service from the UES would not wait in the street! This is not an exaggeration. I came to NYC and landed in the East Village in 1982 as a musician and part of the famed music scene at places like the Mudd Club, Maxes Kansas City and CBGBs. My mother cried when she saw where I lived! Burning cars were a typical occurrence on Avenue B, drug users lined up around the block to by their stuff out of a hole in an abandoned building. Everywhere you walked someone asked you "Works?" The paraphernalia for shooting heroin. Nope, we ain't going back to that in my lifetime. And if we do, there will be bigger things to worry about than real estate prices.
Wow I drifted a bit there, back to D.U.M.B.O! As noted in the piece from the StreetEasy blog this a a wonderful, diverse and dynamic neighborhood. There are some amazing developments in the area, from converted loft buildings to breathtaking modern high rises with views that will knock your socks off! These homes don't come cheap, not the discount one would expect of the Brooklyn of the past. But relatively speaking the pricing is quite compelling compared to similar new construction in Tribeca or resale there.
I understand it's not for everyone and we very rarely advise people on neighborhood choice. I just thought it was worth a mention, perhaps go have a look at some of the buildings mentioned in the blog on StreetEasy. Either way it is certainly a nice day trip on a weekend when you are staying in the city. yet another great thing about living in NYC, we often did "day trips" to different neighborhoods, from Arthur Avenue in the Bronx for great Italian food to a flea market in Park Slope. Take it all in and enjoy!
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