Look Cool While Keeping Cool

The summer heat may finally be coming to an end, but will you be ready for next year? Here are three smart window AC units that actually look cool while keeping you cool.

The most distinct AC unit is the Kapsul, which is still in production and won't be available till Spring of 2019... there is still time to order one at a pre-release discount price. Completely redesigned to be easy to install, digitally connected, and visually unlike any other AC unit.

The standard-bearer of quality AC units has to be Friedrich, and their Kühl line may not look radically different, but it has a host of high-end details (purity, durability, and digitally connected) that make this a wise investment for superior temperature control. 

The final option, the Frigidaire Cool Connect, is the lowest price point of the three options presented here, but it still delivers a sleek design, efficiency, and digital connection.


This summer may be coming to a close, which typically means it is time to store your old tarnished AC unit in some dark corner of your apartment... or you can let go of the past and plan for the future, with a new way to keep stylishly cool next summer. 

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Historic Perspective

Information comes at us so fast these days that is it is easy to get caught up in the most recent batch of data points... and that immediate information becomes all that we can see. From time to time I think we should pause, step back from the current situation, and explore a more historical frame of reference to get a better understanding of what is actually going on.

For example, while it is true that interest rates have been increasing over the last 12 months, in a very real sense they are still at historically low levels. (see graph below).  Borrowing money is still a remarkably cheap way to leverage your current savings toward the purchase of property... starting the process of building equity for the future while in your new home.

Sometimes we need to look to the past to find our way forward. 

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Q2 2018 Manhattan Market Report

We are excited to announce the release of the Compass 2Q 2018 Manhattan Quarterly Market Insights Report. This report highlights the prevailing trends shaping the market for each neighborhood of Manhattan. 

Inventory levels reached new peaks in 2Q 2018 as buyers at most price points, especially those contemplating homes in the $1M - $3M segment, exhibited patience as a result of numerous factors: (1) the recent tax reform that reduces deductibility of state and local taxes, including property tax in New York, (2) gradually rising interest rates, which directly reduces affordability for leveraged purchasers, and (3) awareness of potential market weakness / perceived over-supply in the core luxury market.

    Click here for the full report. 

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    Pricing Makes Perfect

    Pricing is a delicate topic for all sellers. I am often told "I don't want to give my home away" to which I reply "I haven't given one away yet!". Trust is important and I appreciate my clients trusting me with the marketing of their homes. In this post, I want to share a recent success story from some of our favorite clients. 

    Smart pricing got my listing in Crown Heights into contract in 36 days with 5 offers on the table. The average days on market for the building is 130 days which means we sold our unit 3x Faster!   That difference in time is a huge help for our sellers, a young couple looking to move into a larger home upstate.  As the listing agent, it was pivotal for me to listen to what was most important to my sellers and create a market strategy that fit their needs.  

    The fastest and most effective way for an owner to realize the maximum profit on the sale of a home is to get the pricing right. Having the proper list price can boost interest in the listing and drive traffic and, in turn, multiple offers. The wrong price can do the opposite; keeping potential buyers from seeing your listing or arrange a tour.  The homes that sell the faster and for the highest price point are priced competitively to attract a pool of buyers. Money flows to value. A home that is perceived as a good value will attract more buyers than an overpriced home. 

    It’s much better to price it right and create such interest and demand where buyers are chasing you, versus you chasing the market backward and searching for the demand. So don’t be afraid to price your home fairly, or even underprice it—which is likely to attract buyers and boost the price to where it should be. 

     

    • -36 Days- Unit #307 with The Scholz Team
    • -132 Average Days on Market for the building
    • -116 Condo Crown Heights Days on Market
    • -127 Co-Op Crown Heights Days on Market

     Contact us today to find out the true value of your home. 

     

     

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    Is Colorful Grout Trending?

    Everyone knows about conventional grout colors- matching white tiles to the same shade of white grout can prove maddening.  But what if you went for something bolder?   A trend in kitchen and bathroom design now is to add a pop of color with pink, green, blue, or even red grout.  Don't just take our word for it, see for yourself below.  

    Love it? Hate it? We aren't sure either. 

    Read more here

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    Sold Via FaceTime

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    You can buy almost anything from your phone these days, from dinner for two, to movie tickets and used cars. Now, New York real estate joins that list. We just worked with buyers from Michigan who placed an offer on the spot thanks to a video tour with FaceTime.  We were hosting an open house at our listing on the Upper West Side and a neighbor came to see the apartment.  He told me that his former professor was looking for a New York apartment and asked if he could FaceTime her.  

    After giving her the full tour,  he handed me the phone and let us talk numbers. From that initial offer, contracts were drawn up and signed, and the deal was closed all without requiring a trip to New York until the closing.  This is just one example of how New York City real estate is changing every day with new technology and new innovations.  Compass is expanding on a national level, which means that we can help you find a home in most cities. No matter where you may be considering a real estate investment, let us know, we would love to be your advisors. 

     

    Designed to Feel Connected

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    Do you ever wish that you were more connected to nature? Or that your home allowed you to be more connected to the environment it is set in? A new design trend called Biophilic Design may be one to consider when building or remodeling your home.  

    Biophilic Design is based on the principle that connecting a person to nature through design can actually make them feel happier.  Amanda Sturgeon, a prominent architect and champion of Biophilic Design states that humans "possess an innate tendency to seek connections with nature and other forms of life." Drawing on this need for connection, Biophilic Design uses natural features such as wood, stone, and clay along with natural light and shapes found in nature to create inviting and comfortable spaces.  

    To read more about Biophilic Design, click here

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    Is Renter's Insurance Worth It?

     

    Although 95 percent of people who own homes carry homeowners insurance, only about 40% of renters have renters insurance, despite the fact that the average cost of a policy is around $200.  One reason is that mortgages often require insurance, but that doesn't explain the whole picture.  Often, renters believe that the value of the items in their home isn't worth getting insurance, the "Oh, I don't have anything fancy" reasoning.  This notion forgets that if there were an event that cost you all of your belongings, the cost to replace everything at once could be staggering. Imagine not only replacing big-ticket items like a laptop or tv, but also pots and pans, dishes, furniture, clothes, etc.   

    Insurance specialist  Angelo DelBorgo with Putnam Insurance Agency, LLC states that "A few quick questions and all of your precious belongings are fully covered.  These renters policies also include cost of living expenses and liability coverage for negligence."  Angelo is always ready to help set up a policy for you, feel free to contact him anytime at adelborgo@putnamagency.net or via (203) 967-1550.    

    Read more about Renter's Insurance here

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    Is It a Buyer's Or Seller's Market? Yes!

    People always ask us if the market right now is a seller's market or a buyer's market and recently the answer is "Yes, both."  So how can that be?  New York's real estate market has become split based on price point and neighborhood -- those selling at higher price points, $2M and up, are making price cuts and dealing with more days on market.  Seller's under $1M though are seeing properties fly off the market and are frequently getting higher than ask for their homes.  This is even truer in hot neighborhoods such as Flatbush Brooklyn or Flushing Queens where sellers are really controlling the show. 

    For more on this split market, click here

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    Empire State of Sparkle

    The Empire State Building now has a flashy nightly light show -- according to Time Out, the Empire State Building will now be putting on a sparkling light show on the hour, every hour, between sunset and 2am. The sassy skyscraper sparkle parties will last for five minutes and showcase the building’s advanced LED light system, that was completely overhauled in 2012. 

    You can share your photos and videos of the new flashy light show on social media using the hashtag #ESBsparkle. 

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    Introducing Brendan

    Hey there, it’s nice to meet you. I can’t tell you how excited I am to have joined Compass, but more importantly, the Scholz Team! You’re probably wondering who I am, where I came from, and why I decided to join Compass and this team.

    I currently live in Williamsburg, Brooklyn with my boyfriend and the occasional foster dog. I grew up in Pittsburgh as the oldest of four boys, spent four amazing years at Lehigh University studying finance and real estate before making my way to New York City. My first apartment was actually across the Hudson in Jersey City for a short year, and since then I’ve been in the city: first in Sutton Place/Midtown East, then Chelsea, and now Williamsburg.

    Prior to joining Compass I worked at PNC, most recently in real estate banking where I got to learn the New York City market while working on construction loans and commercial mortgages. After 5 ½ years, I was ready to say goodbye to spreadsheets and hello to the people and properties that give New York City its pulse.

    When the time came to pick a brokerage firm, I knew Compass was where I wanted to be after friends who worked here raved about the culture. I had to experience it for myself. And when an agent friend introduced me to Cindy, he said, “I could really see the two of you vibing.” The rest is history!

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