I'm Back (I'm Back)

I know, I know, it's been way too long. I broke the most unforgivable and #1 rule of blogging - "post regularly," and actually the #10 rule as well - "don't give up on your blog." I think those are currently my only 2 blogging indiscretions but you can check out the list of tips/rules for yourself just to be sure at http://www.bloggingtips.com/2008/12/31/10-blogging-tips-for-2009-to-make-it-your-most-successful-blogging-year-ever/ (you should also take a look if you are interested in some common sense tips for blogging).

Anyway, luckily for everyone i am not too proud to beg for your forgiveness. So here i am, back again, 6 months later asking you to forgive me and read what i have to say. A lot has happened in the market since the summer. The Fed has continued to inject liquidity into the banks, who have continued to pile up reserves, which has continued to do very little for stimulating the economy (can you tell that i am taking an Econ Class this semester?). However, from an on the ground anecdotal report, the real estate market is in fact picking up. Company wide, The Marketing Directors (http://www.themarketingdirectorsinc.com) had the highest number of sales/month in August compared to any month in 2009. Crystal Point, our newest river front condo tower, and the crown jewel of Jersey City, (http://www.crystalpointcondos.com) is tearing it up in the sales department and has made over 40 SALES in 8 WEEKS. Not to be left behind, it's riverfront neighbor Hudson Harbor, located in Tarrytown (http://www.hudsonharborny.com) is also reporting big sales numbers and is 40% SOLD since opening this past June. Not to worry, communities not located on either side of the banks of the Hudson river are also reporting more sales, higher offers, and in some cases multiple bids. Looks like my wishing for a recovery has finally begun to pay off.

In other real estate news - the extension of the Federal First Time Home Buyer Tax Credit until April 2010 is looking pretty certain (http://www.cnbc.com/id/33493223). Learn more about the credit (ignore the soon to be out-dated December deadline) at http://www.federalhousingtaxcredit.com/2009/index.html.

Celebrate Seasonality

With Memorial Day just barely behind us, and the advent of summer firmly upon us, the real estate industry begins to party. Calm down, we are not talking keggers, who’s who events, or even social networking (although we will ask you to don a name tag). These events are strictly marketing and sales tools where each community in turn throws an event targeting individuals whom they think are most likely to buy or help sell homes before the summer doldrums take over. Seasonality has always been a part of real estate sales. Historically the fall and the spring are the busiest selling seasons while the summer is hands down the slowest. There is no exact science to the change in buyer patterns but I find myself having a lot of conversations that go something like this:

Sales agent: “They loved the home. It’s everything they wanted and it fits into their budget!”
Me: “Fantastic – did they buy it?”
Sales agent: “Oh, no. They want to wait until they return from their 6 week cruise, trip to London, and week in the Hamptons before making a decision.”
Me: “So this fall?”
Sales Agent: “Yup”

Check out http://www.urbandigs.com/2007/04/data_shows_nyc_is_seasonal.html for a slightly more analytical presentation of seasonality in the real estate market.

Now that event season is here, crafting party concepts and coordinating events that will attract people despite their busy schedules (do I go to the Palmer Hill event or my daughter’s graduation?) take a central role in my daily responsibilities. To be honest, event planning is not one of my strong suites. I am not particularly interested in, or good at, organizing caterers and I know absolutely nothing about floral arrangements or linens. In fact my idea of a good time involves nothing more then plastic cups, some chips and guacamole, and a bucket full of Coronas – probably not a concept that sells luxury homes. Luckily for me there are usually professionals on hand to help and we have been able to throw some great events like our recent Pool Grand Opening at Palmer Hill (thanks Garden Catering http://www.gardencatering.net/). If you missed it, or are interested in taking advantage of some free food and drink while previewing and buying (hint, hint – because the volume of sales goes down in the summer your buying power increases actually making it a great time to buy) not to worry, there is still time to get yourself on the list. All you have to do is register on the website of the community you would like to preview and in the comments section of your registration write “Andrea said I can come.” Upcoming events include but are not limited to:

Hudson Harbor – various events all summer long including Rosé on the River, Guest Chefs, and Wine Tastings. http://www.hudsonharbornyc.com/

Palmer Hill – Fourth of July Bash, and potentially outdoor movies, Shakespeare readings, and homemade ice cream tastings throughout the summer. http://www.palmerhillhomes.com/

Cassa – Grand Opening Event featuring an appearance by World Famous architect Enrique Norton. http://www.cassanyc.com/

See you there – I will bring the bucket of Coronas.