Waterview Advisory Group

StreetEasy thoughts on #NYC rental market.

SALE Learn More: https://lnkd.in/gpcaCr5u IMAGE: Jules Garcia AIF® DATE: 10/07/2024 ADDRESS: 128 Willow Street MARKET: Brooklyn ASSET TYPE: Co-Op SELLER: Henry Ashley BROKER: Jules Garcia - Elegran | Forbes Global Properties SALE PRICE: $3,100,000 SF: 1,500 ~ PPSF: $2,066 NOTE FROM BROKER: The historic district, Brooklyn Heights' real estate market shows no signs of cooling. This beautiful 3 bed 2 bath home which received multiple offers is situated just steps away from the Brooklyn Heights Promenade. Adding another trophy property to their portfolio of transactions... Jules Garcia and the Waterview Advisory Group secured the deal for their great clients. #NewYork #RealEstate #TradedNY #NY #NewYorkRealEstate #NYCRealEstate #Brooklyn #CoOp #JulesGarcia #ElegranRealEstate #HenryAshley #BrooklynHeights #BrooklynBridgePark #TreeLinedStreet #TopNYCBrokers

Unless you've been under a rock, you've probably seen/heard the news about the NAR, National Association of Realtors settlement that's had a far reaching affect on the broader U.S. #realestate landscape inclusive of Greater NYC. Though Greater NYC agents are typically associated with REBNY, Real Estate Board of NY not #nar, the NAR settlement is still causing ripples in our market. Inman does a pretty solid job of breaking out the #top10 questions many buyers, sellers, and agents have on the subject matter. * What is the lawsuit about? * Isn’t working with a buyer’s #agent free? * If I have to pay the compensation myself, does this mean the home prices will be lower? * Do I need a buyer’s agent? Won’t it just be easier to just go direct to the listing agent? * Do I have to sign a buyer-broker agreement? * How will my buyer’s agent be compensated? * Is it possible to negotiate a commission? * Can I still get a credit back from the seller? * Can I finance my buyer/purchaser agent’s commission? * What if I don’t have enough money to cover the commission and my closing costs? Bonus Question: *Will my agent work for #free? Answer: NO, Not if they're a good agent/advisor. In the Greater #NYC market which is already one of the most expensive markets and one which has one of the highest if not the highest pre + post PCR, Purchase Capital Reserves, this will further strain non-affluent home purchasers. A good point was made by Gary Acosta David Dworkin , writing for the National Housing Conference on Sunday, March 17, 2024, declares, How much the settlement will change the current system, which for home sellers and buyers is arguably one of the most expensive in the world, is anyone’s guess. According to Gary Acosta, co-founder and #ceo of the National Association of Hispanic Real Estate Professionals, “forcing buyers to pay out-of-pocket for an agent to represent them through the process would only exacerbate affordability challenges and put homeownership out of reach for millions of would-be buyers… a ban on broker cooperation would benefit no one but the wealthiest among us.” How much the settlement will confuse and discourage first-time homebuyers, especially people of color who are disproportionally first-time homebuyers, is much easier to understand and predict. The light at the end of the tunnel is a proper #realestateadvisor can walk buyers and sellers through best solutions-oriented approach available.