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Month: August 2020

Aug 2020

Don’t Give Up on Offices Quite Yet

When Google announced it wouldn’t bring employees back into the office until July 2021, the company wasn’t just betting on its own ability to do business with employees working remotely. Google, after all, is a provider of services that help other companies handle their own shifts to remote work. By committing to such an extended period of work from …

Aug 2020

Buffalo/Niagara’s Housing Market is not that Sustainable

The buzz circulating around the city is that the housing market is hotter than ever. Out of the country’s 100 largest metro areas, Buffalo emerges as the 7th most affordable region for homeowners. Although, Buffalo homeowners seem to enjoy one of the lowest housing cost burdens in the nation, there’s a bigger burden to bear on the horizon. Challenges in finding the right home …

Aug 2020

5 Coronavirus Real Estate Myths Everyone Thinks Are True—Debunked

Every day, our conversations online and off are filled with “did you hear this yet?” news about the coronavirus pandemic. And, alas, not all of what you hear is true—particularly when it comes to real estate. For instance: Do you assume, as many do, that it’s a terrible time to sell a home since real estate prices …

Aug 2020

Realtor.com found the housing markets that have recovered the most since the country’s start of the coronavirus pandemic. Did your market make the list?

There’s no point in sugarcoating it: The U.S. economy is a hot mess. The continuing coronavirus pandemic has led to scores of business closures, the worst unemployment since the Great Depression, and the steepest economic contraction on record. Yet, despite it all, the U.S. housing market has come back—and then some. After monthslong pauses in …

Aug 2020

Commercial real estate is reeling

Nationally, commercial property sales were at their lowest level in May 2020 since 2010, according to Real Capital Analytics. This comes as commercial renters are increasingly unable to pay rent. Nationally, the retail and hotel industries have been hardest hit, as just 41% of retail properties and 37% of hotel properties were current on their lease in June 2020, according …

Aug 2020

Manhattan apartment sales plunge while the suburbs boom

Pending sales for apartments in Manhattan plunged by more than half last month, while deals for homes in the New York suburbs surged. In July, signed contracts for condos in Manhattan were down 56% from last year and co-op apartments were down 57%, according to a new report from brokerage firm Douglas Elliman and appraiser …

Aug 2020

Mike Dubb and his Beechwood Organization spent 35 years building 7,500 downstate homes

Mike Dubb and his Beechwood Organization spent 35 years building 7,500 downstate homes. For the first time in his career, Dubb is starting to build homes in Saratoga Springs, less than three miles from Saratoga Race Course, the thoroughbred race track he has been visiting since he was 17 years old. Dubb and Beechwood last …

Aug 2020

Real Estate Among ‘Industries to Watch’ Post-COVID-19

Entire industries are being forced to reconsider their business models in the COVID-19 world. Unemployment has skyrocketed during the pandemic, but some industries are more likely than others to weather the storm and even grow after the pandemic eases. Keeping a pulse on employment is key in real estate, as new job centers can spawn …

Aug 2020

Home prices could fall in major cities as Americans sour on urban living, says Nobel Prize-winning economist Robert Shiller

The coronavirus pandemic has many Americans heading for the hills — or the suburbs, as it were. And home prices in cities could decline as a result, says Nobel Prize-winning economist Robert Shiller. In an interview with CNBC CMCSA, +0.77%, Shiller outlined the broad risk to the economy posed by the spread of the novel coronavirus and the …

Aug 2020

Mortgage Rates Fall Below 3% [INFOGRAPHIC]

Some Highlights Mortgage rates hit another all-time low, falling below 3% this week. If you’re ready to buy a home, now is a great time to truly get more for your money at this historic moment. Let’s connect today to determine your best next steps toward homeownership. Published by Simplifying the Market

Aug 2020

Construction Watch: 1585 Hertel

A five-story mixed-use building is rising at the southeast corner of Hertel and Parkside Avenues.  The building will include retail space on the first floor, residential apartments on the upper levels, and underground parking for 26 vehicles.  It is replacing a gas station that was previously on the site. John Daly, a managing principal and …

Aug 2020

Big Reveal: Renovation Plans for Hens & Kelly

Ellicott Development is proposing a top-to-bottom renovation of the former Hens & Kelly Department Store at 478 Main Street. The developer is planning to convert office space on the top floors to 28 apartments and undertaking significant façade changes including bringing windows back to the first two floors of the building.  Carmina Wood Morris is …