The Corcoran Report Manhattan Market Snapshot (survey of Corcoran's own signed contracts)Manhattan listed available inventory has decreased 24% since its peak in March 2009 and is now just above 9,300 units. Available inventory is at its lowest level in almost two years. This number does not include “shadow”, or unlisted and unsold, new development units.Prices are down sharply versus the peak about a year and a half ago. The median price of all properties (condos and co-ops) has decreased 22... Read Full Story

President Obama signed an extension for first time buyers and a new bill. The new bill includes an incentive for current home owners as well. The government will offer those buyers a credit of up to $6,500 as long as they've lived in their home for five of the past eight years.The credit can only be claimed on primary residences purchased for less than $800,000 as long as they use the property as their primary residence for three or more years after the purchase. Buyers don't have to pay it ... Read Full Story

The House and Senate approved a continuing resolution including a provision to extend current FHA loan limits through next year.The Senate announced they have agreed to an extension of the $8000 first-time home buyer tax credit through April 30, 2010. The tax credit was set to expire November 30, 2010.The provision would keep in place current conforming loan limits of $625,000 ($729,750 in Manhattan and designated high-cost areas). Without approval from the Senate, those limits will expire De... Read Full Story

Bloomberg News reports that Senate Banking Committe Chairman Christopher Dodd is pushing to extend and expand the $8000 home buyer tax credit that is scheduled to expire next month.Senator Dodd from Connecticut and Senator Isakson from Georgia are urging colleagues to extend the credit through next June and expand it to all couples earning $300,000 or less.The Mortgage Bankers, National Association of REALTORS and National Association of Homebuilders are all backing the extension.Manhattan Re... Read Full Story

In its Primary Mortgage Market Survey for the week ending October 15, 2009, Freddie Mac reported that the 30-year fixed-rate mortgage (FRM) averaged 4.92 percent with an average 0.7 point, up from last week when it averaged 4.87 percent. In the Northeast, the 30-year FRM averaged 4.92 percent.To read the entire Freddie Mac press release, click here.Manhattan Real Estate - nyc BLOG estate http://rpc.technorati.com/rpc/ping Read Full Story

New York City introduced a series of technology programs to transform the ways in which New Yorkers can interact with – and expect the delivery of services from – City government.New York City, a pioneer in using technology to improve public services, and to make City government more accessible, accountable and efficient will now utilize existing social networks, expanding language access, and consolidating data centers.They include providing a new iPhone application for New Yorkers to r... Read Full Story

Washington Heights is Manhattan's highest natural point (265 feet, in Bennett Park) Washington Heights, which runs from 155th Street to Dyckman Street from river to river, is a bustling urban area with a busy commercial center.Washington Heights is known for it's five and six-story prewar and post war apartment buildings including Lafayette Gardens at 330-40 Haven Avenue. Washington Heights has Art-Deco and Tudor-style coops, row houses, and post war brick buildings.Great shopping an... Read Full Story

Manhattan 3rd Quarter Corcoran Report"Buyers have realized meaningful price reductions since last year". The 3rd quarter Corcoran Report analysis of the Manhattan housing market is now available.The Corcoran Report, in collaboration with Property Shark, is the industry standard for measuring the pulse of the real estate market.Median price came in at $799,000, down 18%, with price per square foot falling 14% to $1,012.Latest Corcoran ReportManhattan Real Estate - nyc BLOG estate http://rpc.te... Read Full Story

"What Seller's Should Not Do When Trying To Sell Their Home""The Deadly Sins of Home Sellers"by Barbara Corcoran(September 22nd on the Today Show)Not Countering an OfferWaiting for a Better OfferHanging around during an Open HouseLimiting Hours for ShowingsLeaving Closets a MessNot making Needed RepairsNot getting rid of ClutterHaggling over the Price of Personal itemsDiscounting the Broker's FeeRemoving the Furniture or not Staging a PropertyManhattan Real Estate - nyc BLOG estate http://rpc... Read Full Story

Landlords and supers of NYC residential buildings are being trained to "go green."The mayor joined real estate industry leaders yesterday to launch an eco-friendly buildings program to reduce energy waste, operating costs and harm to the environment.The training program for landlords, supers and building managers will encourage energy efficient practices, including sealing up cracks that allow air to escape, finding and fixing leaky faucets and installing more efficient lighting controls."Bui... Read Full Story