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Downtown Manhattan sells most in Q2 2010

Mon, 12 Jul 2010 23:12:47 -0500

One of the graphs that I find informative is this one from the Second Quarter 2010 Corcoran Report on the Manhattan Real Estate Market. Downtown Manhattan, comprised of neighborhoods below 34th Street, accumulated the largest percentage of sales this quarter with 35%, a small increase in market share from First Quarter 2010. The West Side accounted for 21% of sales while the East Side accrued...

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Housing Help For Homeless Veterans

Tue, 29 Jun 2010 06:00:00 -0500

As the Fourth of July approaches we have a post from guest writer Brandon Fischer of the VA Mortgage Center and AllMilitary.com, on a subject not covered before on this blog. I thought it was an appropriate theme as we celebrate the day our country was founded, and consider the priceless quality our freedom. As we honor those who have sacrificed in service to our country this July 4, here’s a...

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Coney Island Mermaid Parade 2010

Sat, 19 Jun 2010 23:16:44 -0500

Who could have said it better than this Mermaid who washed ashore at today's annual Coney Island Mermaid Parade. Those of us who enjoyed a day at the beach, were appropriately reminded about BP's oil spill in the Gulf, as Brooklyn's homegrown annual celebration of summertime, took on an oily layer of protest by many of the Mermaid and sea life costumed marchers.

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Manhattan sees dramatically increased home sales

Sat, 01 May 2010 09:01:48 -0500

The big news is that so far this year, sales volume could be as much as 70% higher than last year by current estimates. I've been personally involved in a couple of bidding wars in recent weeks. Correctly priced and marketed properties are meeting buyers, who are acting now without hesitation. Renewed confidence in the market, and a rapid absorption of the outstanding inventory of apartments, has...

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Liu says mayor wants to take over Battery Park City

Thu, 15 Apr 2010 19:39:48 -0500

After grabbing Governors Island and Brooklyn Bridge Park from the state, Mayor Bloomberg has now set his sights on a new acquisition: Battery Park City. Bloomberg’s office asked Comptroller John Liu earlier this year to study the feasibility of taking over Battery Park City, which is now under the state’s jurisdiction Liu says mayor wants to take over Battery Park City

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Gowanus Canal in Brooklyn Is Given Superfund Status

Tue, 02 Mar 2010 14:07:51 -0500

The federal Environmental Protection Agency announced Tuesday that it was designating the Gowanus Canal in Brooklyn a contaminated Superfund site, opening the way for a cleanup of the long-polluted waterway. Gowanus Canal in Brooklyn Is Given Superfund Status

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U.S. Economy Grew at 5.9% Annual Pace Last Quarter

Fri, 26 Feb 2010 12:48:09 -0500

The U.S. economy expanded at a 5.9 percent annual rate in the fourth quarter, more than the government reported last month, reflecting stronger business investment and a greater contribution from inventories. U.S. Economy Grew at 5.9% Annual Pace Last Quarter

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Bernanke Reaffirms ‘Extended Period’ of Low Rates

Wed, 24 Feb 2010 16:06:38 -0500

“Although the federal funds rate is likely to remain exceptionally low for an extended period, as the expansion matures, the Federal Reserve will at some point need to begin to tighten monetary conditions to prevent the development of inflationary pressures,” Mr. Bernanke said in a prepared statement. Bernanke Reaffirms ‘Extended Period’ of Low Rates

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New-Home Sales at a Low in U.S.

Wed, 24 Feb 2010 16:00:41 -0500

New-home sales unexpectedly fell to a new low in January while mortgage applications dropped last week to the lowest level since 1997, according to data released by the Commerce Department. The reports rekindled worries that a turnaround for the housing market would be elusive in an era of high unemployment and huge debt burdens. New-Home Sales at a Low in U.S.

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Housing Prices: Up, But Not by Much

Tue, 23 Feb 2010 22:52:48 -0500

The Case-Schiller housing price indexes were released this morning, and both the Composite 10 (C-10) and the Composite 20 (C-20) showed monthly increases of 0.3% on a seasonally adjusted basis. Housing Prices: Up, But Not by Much

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Citigroup Offers to Help Americans Lose Their Homes

Sat, 20 Feb 2010 12:04:10 -0500

With much self-congratulatory fanfare, Citigroup (C) announced a new program to help itself maximize profits on foreclosures – as it boots one American family after another onto the streets.Citigroup's “generous” offer allows foreclosure victims to stay in their homes for up to six months, along with a grand sum of $1,000 to help their victims try to start over again. In return for Citi's...

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Home Builders Are Back, Kinda

Sat, 20 Feb 2010 11:54:52 -0500

The good news continues rolling in for home builders, who hope they’ve hit bottom and are in recovery mode. But, as we’ve told you before, headwinds remain for the beleaguered sector. Bank of America Merrill Lynch started seven builders with a “buy” rating, a bullish view based “on an expectation of growth in 2010 driven by improving economic conditions. Home Builders Are Back, Kinda

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Mortgage Rates Flat at 4.94%

Sat, 20 Feb 2010 11:52:42 -0500

Mortgage-loan applications dipped 2.1% for the week ended Feb. 12, the Mortgage Bankers Association reports. This comes as the average mortgage rate for 30-year fixed loans remained flat at 4.94%, with a slight increase in points. Mortgage Rates Flat at 4.94%

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How negotiable is that apartment?

Fri, 19 Feb 2010 22:23:25 -0500

click the chart to enlarge »Download the report (.pdf) Corcoran just released some more data on the market place in January, which gives us some additional color on what I presented in the most recent market snapshot post. A key trend highlighted is average deal negotiability from the last asking price, and it is shrinking in every price category, when compared with a year earlier. In...

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Years of Street Work Planned for Tribeca, North and South

Fri, 19 Feb 2010 15:32:09 -0500

Shane Ojar, a deputy director of the city’s Department of Design and Construction, told Community Board 1’s Tribeca Committee on Feb. 17 that a five-and-a-half-year replacement of water mains in northern Tribeca could start by the end of the summer. In addition, he said, crews will begin a three-year overhaul a five-block-long stretch of Chambers Street in early April that will narrow the street...

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