One of the most significant decisions you'll make in your life is whether to rent or buy a home. Both options come with their own advantages and considerations, and finding the right choice for your unique circumstances is crucial. In this article, we'll delve into the factors you should consider when deciding between renting and buying, helping you make an informed decision that aligns with your financial goals and lifestyle. 1. Financial Considerations One of the primary factors to evaluate when weighing the renting versus buying dilemma is your financial situation. Consider the following ..read more

Neighborhood Spotlight: Exploring the Hidden Gems of New York City Welcome to the vibrant and diverse metropolis of New York City! As we embark on this exploration, we invite you to discover the lesser-known treasures nestled within its iconic neighborhoods. From the bustling streets of Manhattan to the artistic havens of Brooklyn, New York City is a treasure trove of unique experiences waiting to be uncovered. Join us as we shed light on the hidden gems that make this city truly remarkable. 1. East Village: Bohemian Charm and Artistic Enclaves Nestled in the heart of Manhattan, the East Vill ..read more

In today's competitive real estate market, selling a home requires more than just listing it on a website. To stand out and attract potential buyers, you need to master the art of staging. Staging is the process of preparing and presenting your home in a way that appeals to a wide range of buyers, making it irresistible and memorable. In this comprehensive guide, we will share expert tips and strategies to help you stage your home like a pro and make it the top choice for buyers. 1. Create a Welcoming Curb Appeal First impressions matter, and the exterior of your home sets the tone for what b ..read more

Photo Credit to https://unsplash.com/ 1. Start with your finances: Before diving into the home-buying process, assess your financial situation. Determine how much you can afford, considering your income, savings, and expenses. Get pre-approved for a mortgage to understand your budget and avoid disappointment later. 2. Research the real estate market: Familiarize yourself with the current real estate market conditions in your area. Understand the trends, average prices, and the types of properties available. This knowledge will help you make informed decisions and negotiate effectively. 3. Ide ..read more

Meet Scott Porter, the latest addition to the powerful Lundgren Team. Scott has real estate in his blood, having grown up in the business with his family's interests in Miami Beach, Manhattan, and the East End of Long Island. He has extensive knowledge of these markets, and this knowledge has propelled him to specialize in luxury sales in Miami, Manhattan, and the Hamptons. As a full-service agent licensed in New York and Florida, Scott offers his clients a total service experience. He believes in educating buyers and sellers on market trends and showing them comparables to ensure a clear und ..read more

Photo Credit to https://unsplash.com/ Staten Island home prices remained stable in February, with the borough's median sales price slightly increasing to $650,000, according to a recent report from the Staten Island Board of Realtors (SIBOR). However, with buyer demand weakening across the nation, there's a chance that these numbers could drop even further. The report highlighted that, with buyer demand down from peak levels, home price growth has continued to slow nationwide. To attract buyers, sellers have been increasingly cutting prices and offering sales incentives, but buyers are still ..read more

Photo Credit to https://unsplash.com As the real estate market heats up, all-cash transactions are becoming more common among buyers, especially in cities like New York. According to a report by realty company Redfin, about 31% of home sales in New York City are all-cash deals, as compared to a national average of roughly one-third. Redfin's report revealed that the share of all-cash home purchases is at its highest level since 2014, with buyers using this unconventional method to sidestep rising interest rates. The report also noted that the trend is not uniform across the country, with some ..read more

Photo Credit to https://unsplash.com Residents of the West Brighton Houses in Staten Island are looking forward to a major overhaul of their homes. The New York City Housing Authority (NYCHA) development will undergo a $100 million renovation, which will bring new kitchens, bathrooms, windows, doors, and flooring to the apartments. The project will also improve building infrastructure, including security, heating and cooling, water and plumbing, and ventilation. In addition to the apartment upgrades, the project will also improve public spaces, community safety, landscaping, and building entr ..read more

Photo Credit to https://unsplash.com Terreno Realty Corporation has acquired an industrial property in Long Island City, Queens, New York for approximately $23.0 million. The property comprises a distribution building with 45,000 square feet of space on 1.1 acres of land. It is located at 42-11 9th Street, adjacent to the Queensboro 59th Street Bridge that connects Manhattan and Queens. The property features one dock-high and two grade-level loading positions and off-street parking for 13 cars. It is fully leased on a short-term basis, and the estimated stabilized cap rate is 5.2%. Terreno Re ..read more

Photo Credit to https://unsplash.com/ Manhattan's residential real estate market has taken a hit in the first quarter of 2023 as sales plunged by 38% while the average sales price dropped by 5%, according to a report by Douglas Elliman and Miller Samuel. The decline in sales volume, which totaled $4.4 billion, is attributed to high interest rates that have made buying a home unaffordable for many, while sellers are staying put to keep their relatively low mortgage rates. The low inventory of homes for sale in Manhattan has also contributed to the slowdown in the market, with only 6,996 proper ..read more