Talking Manhattan

Today, banker extraordinaire Ace Watanasuparp, Executive Vice President of Citizens Bank for Residential Lending in New York, joins Noah Rosenblatt and John Walkup for UrbanDigs for a quick talk on the state of the mortgage market today, what sellers can do to lower rates for potential buyers, as well as tips and challenges to be aware of currently. From his vantage point at Citizens Bank, Ace sees all kinds of deal flow and has a great bead on where the market is headed. Some great real-time time nuggets here!

Highlights:

(0:54) Where lending rates are right now

(5:33) Sell-side strategy – offer points & create a lower rate for buyers

(8:58) Lending standards tightening?

(11:27) Challenges on the lending side to be prepared for

(14:59) Things buyers can do to prepare for the loan process

(16:46) Financed bids are riskier, making the premium for cash bids rise

Pages:

Ace's LinkedIn profile:

https://www.linkedin.com/in/acewatanasuparp/

A profile of Ace on Citizens Bank:

https://jobs.citizensbank.com/Ace-from-ball-to-business

Got questions? We got answers! Visit our forum:

https://www.urbandigs.com/forum/index.php?forums/main-forum.2/

Track the New York City real estate market with real-time data and charts:

https://www.urbandigs.com/

Link to our overview of Manhattan or Brooklyn real estate stats:

https://www.urbandigs.com/marketwide-charts/

For more Manhattan and Brooklyn real estate conversations:

http://www.talkingmanhattan.com/

Steve Dawson & Robert Varvara, top producers and founders of the Dawson | Varvara Team at Compass, sit down with Noah Rosenblatt and John Walkup from UrbanDigs to discuss today's shifting markets. Steve and Robert work on all types of deals, from rentals to resale to new dev to townhouses across Manhattan and Brooklyn. They have a great view of what's happening across all market levels and speak to what buyers, sellers, and agents need to know today. Grab a pen, because you'll want to take notes!

Highlights:

(0:26) Market shifted so quickly that it caught many "off-guard"

(2:36) The sell side conversation

(8:18) Price reduction strategies for stubborn sellers

(10:26) Recapturing buyer attention for listings

(13:14) Buyers are starting to feel more “empowered”

(18:01) Will there be blood on the streets?

(19:05) Investor sentiment & domestic investing trends

(21:50) Strategies agents should do now

Pages:

Dawson | Varvara Team page at Compass:

https://www.compass.com/agents/dawson-varvara-team/

Steve's Page at Compass:

https://www.compass.com/agents/steve-dawson/

Robert's Page at Compass:

https://www.compass.com/agents/robert-varvara/

Got questions? We got answers! Visit our forum:

https://www.urbandigs.com/forum/index.php?forums/main-forum.2/

Track the New York City real estate market with real-time data and charts:

https://www.urbandigs.com/

Link to our overview of Manhattan or Brooklyn real estate stats:

https://www.urbandigs.com/marketwide-charts/

For more Manhattan and Brooklyn real estate conversations:

http://www.talkingmanhattan.com/

Jeffrey Carlson, Director of Sales at Argo, joins Noah Rosenblatt and John Walkup of UrbanDigs for a look at the rental market today. Jeffrey has a great birdseye view of the markets and does a great job putting the pieces together. From today's 'extreme supply problem' to investor sentiment to current concessions, you're sure to find some insights!

Highlights:

0:23 - Update on both the sales and rental markets

1:47 - "There is an extreme supply problem"

4:00 - Turnover today vs pre-pandemic

9:33 - Are landlords still warehousing units?

13:22 - Investor sentiment & targets

18:04 - Concessions and OPs?

Jeffery's Pages:

https://www.linkedin.com/in/jeffrey-carlson-713b204/

https://argoresidential.com/

Got questions? We got answers! Visit our forum:

https://www.urbandigs.com/forum/index.php?forums/main-forum.2/

Track the New York City real estate market with real-time data and charts:

https://www.urbandigs.com/

Link to our overview of Manhattan or Brooklyn real estate stats:

https://www.urbandigs.com/marketwide-charts/

For more Manhattan and Brooklyn real estate conversations:

http://www.talkingmanhattan.com/

We've got a deep dive in store for you today. Orest Tomaselli of CondoTek and Strategic Inspections, along with Elegran's Ben Willig, take us into the weeds when it comes to the recently enacted (and soon to be enforced) Local Law 97. The spirit of the regulation is all about making buildings green, but the details can be complicated. With buyers and sellers always wanting to know more, this is a great bit of info to know!

Highlights:

1:40 - What is Local Law 97?

3:55 - How are emissions reductions measured?

5:45 - What's with the building grades?

7:30 - What sort of financial impact are buildings looking at?

12:55 - "Shadow capital needs" - How can buyers examine potential impact before purchasing?

16:10 - What should buildings do now to prepare if they haven't already?

21:10 - Can carbon offsets help?

Orest's Firms:

https://condotek.com/

https://www.strategicinspections.com/

Ben's Page at Elegran:

https://www.elegran.com/agents/ben-willig

Got questions? We got answers! Visit our forum:

https://www.urbandigs.com/forum/index.php?forums/main-forum.2/

Track the New York City real estate market with real-time data and charts:

https://www.urbandigs.com/

Link to our overview of Manhattan or Brooklyn real estate stats:

https://www.urbandigs.com/marketwide-charts/

For more Manhattan and Brooklyn real estate conversations:

http://www.talkingmanhattan.com/

Jordan March, the managing partner of the McPeak Team at SERHANT., joins UrbanDigs' Noah Rosenblatt and John Walkup for a deep dive into tactical marketing: what it is, what it's all about, effective strategies, pitfalls to avoid, things to focus on, etc. Jordan has an extensive background in marketing and knows how to get and maintain consumer engagement as they work toward an eventual closing in a results-driven manner. If you're working with buyers, sellers, renters, or even just trying to build your reputation, Jordan drops some solid takeaways on how to set up a performance-based framework. Grab a pen and paper - you'll want to take notes!

Highlights:

2:22 - What is tactical marketing?

5:40 - The four marketing segments

10:40 - First steps

14:05 - Best ways to connect with consumers

17:55 - Importance of following up - "Don't spray and pray!"

20:05 - Best practices and common mistakes

23:00 - How to measure success

Jordan's Sites:

https://www.serhant.com/people/jordan-march

https://www.serhant.com/teams/4/the-sean-mcpeak-team

Got questions? We got answers! Visit our forum:

https://www.urbandigs.com/forum/index.php?forums/main-forum.2/

Track the New York City real estate market with real-time data and charts:

https://www.urbandigs.com/

Link to our overview of Manhattan or Brooklyn real estate stats:

https://www.urbandigs.com/marketwide-charts/

For more Manhattan and Brooklyn real estate conversations:

http://www.talkingmanhattan.com/

Ben Dixon, one of the eponymous founders of the massive Mackay-Dixon Team at Douglas Elliman, sits down with Noah Rosenblatt and John Walkup of UrbanDigs to talk about today's changing markets. Ben is not only a CPA with deep financial experience, but he's also a long-time real estate investor himself. On top of that, Ben and his team have done nearly $1B in real estate deals, so he sees the angles. Among other things, we talk about shifting sentiments, value plays, and how to frame negotiations. Ben offers an honest assessment of where we are, how to prepare for what's next, and how to navigate the changing tides in between.

Highlights:

(0:53) “We are experiencing some headwinds at the moment”

(2:07) Buyer and seller sentiment has changed in last few months

(4:15) If Q1 was peak activity, where to from here?

(6:11) Is there a negative wealth effect going on right now?

(7:24) Bid premium spread between renovated & unrenovated is very wide

(9:14) Where are the value plays?

(11:47) Negotiability often depends on “need” vs “want”

(13:48) Navigating a shifting marketplace (buyers, get ready!)

Ben's Sites:

https://mackaydixon.com/

https://www.elliman.com/newyorkcity/associate/527-a-551-bpd/benjamin-p-dixon

Got questions? We got answers! Visit our forum:

https://www.urbandigs.com/forum/index.php?forums/main-forum.2/

Track the New York City real estate market with real-time data and charts:

https://www.urbandigs.com/

Link to our overview of Manhattan or Brooklyn real estate stats:

https://www.urbandigs.com/marketwide-charts/

For more Manhattan and Brooklyn real estate conversations:

http://www.talkingmanhattan.com/

Kirsten Jordan, yes, that Kirsten Jordan (Million Dollar Listing New York star, mega-producer at Elliman, coach, etc, etc) joins Noah Rosenblatt and John Walkup of UrbanDigs to discuss the shifting market and consumer sentiment, negotiability, buying vs renting, price reductions, and strategies for success. Kirsten is natively fluent in real estate, and her insights reflect a deep understanding of how buyers, sellers, and brokers think and operate. During changing times like these, advice like this is golden. Another must-watch!

Highlights:

(1:03) Market shifts, inventory waves, and scarcity of quality product

(2:54) Sentiment is changing as markets may be normalizing

(7:04) Talking sell side and listing trends

(9:45) Negotiability tied to locality and need for renovation

(11:38) Rental market mania?

(13:19) Buy vs rent decision squeeze and “lifestyle creep”

(15:15) The price reduction conversation

(16:51) Strategies and advice for success

Kirsten's Sites:

https://kirstenjordan.com/

https://kirstenjordanteam.com/

Got questions? We got answers! Visit our forum:

https://www.urbandigs.com/forum/index.php?forums/main-forum.2/

Track the New York City real estate market with real-time data and charts:

https://www.urbandigs.com/

Link to our overview of Manhattan or Brooklyn real estate stats:

https://www.urbandigs.com/marketwide-charts/

For more Manhattan and Brooklyn real estate conversations:

http://www.talkingmanhattan.com/

Scott Harris, Founder of the Harris Residential Team at Brown Harris Stevens and member of the rarefied $1B+ club in NYC real estate sits down with Noah Rosenblatt and John Walkup of UrbanDigs to talk about the current real estate market, what's up with the sentiment, and the three stages of advisory. Along the way, we talk rates, price cuts, and what's working today. Scott is known throughout the industry as a forward-thinking problem solver and his multi-decade experience is on display here. Good stuff!

Scott's page at Harris Residential:

https://harrisresidential.com/scott-harris/

Got questions? We got answers! Visit our forum:

https://www.urbandigs.com/forum/index.php?forums/main-forum.2/

Track the New York City real estate market with real-time data and charts:

https://www.urbandigs.com/

Link to our overview of Manhattan or Brooklyn real estate stats:

https://www.urbandigs.com/marketwide-charts/

For more Manhattan and Brooklyn real estate conversations:

http://www.talkingmanhattan.com/

0:38 - “It’s all about proper pricing right now”

3:00 - A perfect storm brewing? Unique complexities in today’s markets

6:07 - Buy side sentiment check in

8:21 - Sell side sentiment check in

10:15 - “Fear of rate rise is greater than anything”

11:49 - Strategies that are working today

13:12 - The price reduction conversation

16:23 - 3 stages for client success

It's time for another Brian Lewis masterclass on Talking Manhattan! Join us as we talk markets, sentiment, urgency, price cuts, renovations, and more. As usual, it's worth a listen - especially if you're got a price you need to cut or a listing that needs a gut!

2:09 - “The slingshot market that catapulted us back, may be done”

3:38 - Inventory build + talking truth with optimistic sellers

5:19 - Buyer & seller sentiment is starting to change

9:21 - Price action - “I feel like we are back in the 2019 vibe”

11:06 - How to build “urgency” for listings

12:42 - Price reduction conversations, Positioning & Pricing Hurdles

15:37 - Renovations - Show the success path

19:06 - Deal fatigue and the importance of communication

Brian's page at Compass:

https://www.compass.com/agents/brian-lewis/

Check out UrbanDigs!

Charts | Comps | CMAs | Infographics | Market Commentary | and More!

https://www.urbandigs.com/

Link to our overview of Manhattan or Brooklyn real estate stats:

https://www.urbandigs.com/marketwide-charts/

For more Manhattan and Brooklyn real estate conversations:

http://www.talkingmanhattan.com/

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It's a special, 2-for-1 episode of Talking Manhattan this time as we sit down with the Sotheby's mega-producer Nikki Field, and the President and CEO of Sotheby's International Realty, Philip White. Their deep experience and global presence mean we can talk about what's happening in NYC, USA, and the world. Join us as we talk about macro forces, interest rates, super luxury, the new 'hybrid model', and more.

Topics include:

(0:21) Macro talk. "Fear" and "Movement" are driving forces today

(5:05) Inside the Super Luxury sector

(9:33) Foreign buyers; where is the action coming from?

(13:50) The "hybrid" and "work from home" models

(17:06) Looking ahead for 2022