Tuesday, August 5, 2008

Don't believe the hype!

There is a little known saying inside media circles. "If it doesn't bleed, it doesn't read!" This is more true than most of us realize. As humans, we often have a fascination with the morbid. Why do you think that most of what's in the papers and on the news is dark and depressing? We all hate hearing awful things, but it gives us conversation material around the water coolers at work. "Wasn't that awful what happened on the news last night?" or "Did you hear about Brittney/Pam and Tommy/Paris/INSERT ANY CELEBRITY NAME HERE?"

In the interest of bringing you fact, not fiction, this year's market report is now out and viewable simply by clicking on the title of this post. It gives you hard facts about the state of the market in this city right now amidst all of the "bubble" speculation and with other housing markets in the country suffering.

I figured after a month off from writing, I'd give you a double whammy of data today. I hope that you all enjoy these posts today as they are extremely resourceful.

Want to live in Manhattan and get a doorman? Find a roomate!

Hey all,

I had to take a month off from writing during my birthday month. It's still quite busy although not the usual frenetic pace the summer yields. Here is a post that is quite relevant for the time and market we are currently in.

This is the time of year where people can usually get the best deals. If they are new to the city and feel the need for a doorman building, the landlords are offering more concessions this year than I have seen over the last four years. If you click on the title of this post, you will see the most recent market report for this year on the average rental rate.

The rents are not dropping as much as people think. The only size apartment that has dropped across the board is a one bedroom. This makes for an interesting situation. While many landlords are no longer allowing temporary walls to convert the apartments into a two bedroom, the ones that still are will yield some great options.

No matter how you slice it, the average person needs to spend between $1800-$3000 to live in the city these days. Occasionally, there are some options to be had for less if you sacrifice a little living space in the apartment or location of the building.
I am finding some convertible apartments in doorman buildings from $2500-$2850. However, there are only 7 in the entire city right now. Generally, to do this you will find more results in the $2800-$3800 range.

It's always best to have one roommate rather than two. Think of the old saying, "too many cooks in the kitchen". It can delay the process and cause you to lose that perfect place if all parties are not on the same page with needs, viewing times and paperwork. The link will show you what the averages are, but with a crafty veteran like me on your side, we may be able to negotiate a better deal if your timing is right!

Subscribe