1031 Exchanges With Andrew Luftig - A Tax-Deferred Strategy You Need To Know About!

Joining us today in EP30 of Guidance by Glazer is my very special guest, 
Andrew Luftig, from Chaves Perlowitz Luftig LLP law firm, one of our preferred real estate closing attorneys. Today, we're discussing 1031 exchanges, a tax-deferred strategy many investors use when buying and selling in NYC.

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The Times They Are A Changin' - The Shift Towards A Buyers Market

Last week on my video series Guidance by Glazer which you can check out on our team’s Facebook page, I talked about the ways in which you can detect it’s a buyer’s market. Given that we are seeing a clear cut shift in consumer command (i.e who controls the market), I thought it relevant to share those tips this week.

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The SECRET of the Trade, Part 2: How to Negotiate the Best Possible Price and Terms If You're the Seller

Last month I was able to share a few tips on how to get the best possible price and terms as a buyer since we are widely considered to be in a buyer’s market. While this is true there are definitely sellers achieving new price records for their homes, and their buildings.

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Trumped Up! The Impact of the Trump Presidency on the NYC Housing Market

I think it’s safe to say that not many of us here in the (mostly) blue state of New York were expecting Donald Trump to get elected president. Political opinions aside, it’s the new reality, and with such uncertainty and surprise, there are surely to be ramifications top to bottom on the political, economic, social, and ecological stages. Having said this, we are here in New York City, and we are homeowners, so let me get down to brass tacks on how I think his election will affect our housing market.

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Triple P: The Power of Pre-Sale Preparation

It’s not new to say that the market has shifted: prices are softening across the board and even ultra-hot markets like Clinton Hill, Brooklyn are starting to slow down. Inventory has ticked up and buyer demand has cooled. What does this mean? Well for one, what it doesn’t mean is that the real estate market is dead or doomed or anything so absolute. It means that everyone will have to be a little more strategic, a little more thoughtful about buying and selling, and work a little bit harder.

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My New York Homecoming

Yesterday, October 3rd, marked a homecoming for me. As a native New Yorker and a native to 12th street in Greenwich Village, I consider downtown Manhattan my hub. I, like so many of us, am a creature of comfort and despite living in a “big” city, feel right at home in the Village. Not to mention my office is on 14th street and 5th avenue. So after around two and a half years in Brooklyn, my girlfriend and I moved back to Greenwich Village yesterday. 

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You Before Me

I believe we are living in the ME age – everything is centered around being in the spotlight, being the center of attention. We have presidential candidates who do everything they can to grab the next headline, and reality tv shows that attempt to glorify the mundane – bringing attention to housewives, love seekers, and real estate agents alike. Yes, let's not forget shows like Million Dollar Listing, which has brought so much attention to the life of an agent often times making it seem larger than life.

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Wild, Wacky, & Weird

No, I am not talking about myself. 

Although, if you knew me you might say the same thing! Rather, I am talking about the state of the real estate sales market - It’s a strange world out there. One of the proverbial godfathers of my business, Bob Knakal, said of the market earlier this week, “I am confused. I hope we have more clarity by the end of the year, because I’m no more certain where we’re going than I was at the beginning of the year.” While market conditions can never be boiled down to an exact explanation, here are a few thoughts on why it’s so confusing out there!

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Setting The NEW Price

If there’s one constant that I’ve observed over the years in upward and downward shifting markets, it’s that there’s a disconnect between listing prices and actual market conditions. In an “up” market, sellers and brokers pay too close attention to the comps, eventually pushing prices up caused by bidding wars. In a down market, sellers and brokers still pay too much attention to comps, relying on data of months and years past, which doesn’t accurately reflect what’s happening today.

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Price Drops and Opportunity Knocks

It’s official: the market has changed. We are consistently seeing prices drop across the board, and the real estate market is no longer “frothy.” Don’t get me wrong - a well-priced apartment in a limited inventory market is still moving, and those open houses are busy. But far and wide, the market has slowed, and as a result both buyers and sellers will need to adjust their strategy.It’s official: the market has changed. We are consistently seeing prices drop across the board, and the real estate market is no longer “frothy.” Don’t get me wrong - a well-priced apartment in a limited inventory market is still moving, and those open houses are busy. But far and wide, the market has slowed, and as a result both buyers and sellers will need to adjust their strategy.

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Four Important Tips for Selling in the Changing Market

From 2011 through 2015, it was smooth sailing for real estate brokers.
Well... at least on the listing side.  The market was very strong: prices continued to appreciate, inventory remained low, and as a result, sellers (and their brokers) had it made. But during this frenzied buying period, the preparation a broker must give to a listing in order to optimize the sale when it goes to market (or rather, the broker's attention to detail, if you will) was lost in the heat of the buyer's market. What does this mean, exactly?

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