Last week I was interviewed by a reporter from an online lifestyle blog who was writing a story on building a dream team for home buyers. She referred to her own “miserable” recent experience of…
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Co-ops
As the number of condominium products grows, there’s mounting pressure among condo boards to operate their buildings efficiently and to maintain the character of their residences in the best interests of unit owners. Increasingly condos are trying to exert more control over resales, imposing conditions for granting waivers and even implementing new policies—behaving very much like their co-op cousins.
I’ve been selling residential real estate for 35 years, and for the first time I hosted a business talk last week in my Living Room with a guest banker and an attorney. I had a script and an agenda, but we were an intimate group, and the setting was informal, so as I touched on the stats that impact the market, I encouraged Q & A from the buyers and sellers who had gathered. To set the stage for discussing whether now is the time to buy or sell, I offered an overview of current inventory, identified 3 distinct market segments, highlighted the rise of the condo product, and considered absorption rates.