Apr
16

In the News

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4/9/12 Lux Life:  3 Pads sold for over 20M last week: Despite the Easter and Passover holidays, the affluent pulled out the stops in Manhattan, snapping up the former Fifth Avenue homes of a famous financier and a copper heiress.  Read the full article at Crain’s New York Business

4/12/12:  Audits Find Flaws in City’s Property Assessments:  The audits note that for many years the city used one methodology, called net income capitalization, to determine property valuations. For the 2008-9 fiscal year, the city switched to another method, called gross income multiplier. Then, without advance notice to homeowners, it reverted to the original methodology for the 2011-12 fiscal year. Read the full article in the New York Times

4/13/12  Exclusive 1st Quarter 2012 Elliman Report for the Miami, Florida Market:  The Miami housing market experienced the highest market share of non-distressed sales in several years, with a surge in both condo and single-family sales activity. The luxury and the non-distressed markets both continued to see upward pressure on prices. Distressed sales activity is expected to pick back up over the next year, which will help the market gain better footing for the long term. Foreign buyers continue to play a key role in driving sales demand, incentivized by the weak US Dollar. We anticipate an active Miami housing market over the next several quarters.  Read the report from Prudential Douglas Elliman 

 

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