Winston Churchill once said “To improve is to change; to be perfect is to change often.” Nowhere is this truer than in a big city like New York. Sometimes it seems as if all of NYC is a construction site, with cranes dotting the changing skyline. Perhaps the big town is just in the process of giving itself a makeover.
Everything changes, nothing remains the same. Much of the talk in real estate these days is about peaking prices and low inventory levels. The market prices rose because of supply and demand for a long time — however currently, more new properties are coming for 2016.
Energy levels are high in the city that never sleeps (or even powernaps these days) with folks of all ages and and backgrounds taking to the streets to express the endless creativity that has become the hallmark of this metropolis. Isn’t this vitality one of the reasons we live here?
Focus on commercial properties remains constant. Construction cranes, demolition and rebuilding are more prevalent than in years past. 2016 will be a year of transition and repositioning of buyers and sellers. Click here to read more about the trends and metrics.
The other major change in the real estate world is TRID and RESPA. This is a new federal law which requires mortgage lenders to provide consumers with certain disclosures during the loan application and closing process.
TRID stands for Truth-in-Lending Integrated Disclosures Act. RESPA stands for The Real Estate Settlement Procedures Act. These are the first changes in 25 years!!
If you have questions about any of this alphabet soup or have anything else on your mind, talk to me I’d love to hear from you.
When you are a creative person, the tendency can sometimes be to escape the “real” world to live in an alternate realm of fantasy. Balancing the demands of making a buck with the desire to create something beautiful can tax the synapses of even the most energetic and resourceful guy. My intention is to reach that balance.
When you factor in the ever-changing landscape of New York City financial trends, you have got one heck of a heady cocktail, my friend! In this edition of The Art of Real Estate, listen to my take on the current climate (in the interview below). Also, take a journey to my imaginary land of Mu, which may be quite different from the one you are familiar with.
My dear friend (and legendary journalist) Rolland Smith and I sat down recently and the conversation turned to subjects dear to my heart: Real Estate in New York and the state of the Art Market. I think you’ll be surprised at what I had to say. Click Here to hear the interview.
My recent paintings centered around the imaginary land of Mu have been getting a lot of attention lately. A select few of these pieces will be shown at an art opening (along with fellow artist Annette Jaret) March 15 at New World Home Cooking in Saugerties.