I have been selling Real Estate in the “bococa area” for last 7.5 years, I have watched it boom, bust and boom again….if this is cyclical is the bust on the way ? If so when will it arrive ? If it arrives how much of a down turn can we expect or rather anticipate and speculate?

Real Estate is based on few factors, rates , supply and demand and location. I’m sure there are a few other variables that we could throw into the mix but for the moment we can chew on these.

Let’s take a close look at location , we have all heard of the three L’s … And at times we may not have understood what that exactly meant but for most part you assumed it meant higher price, yes that is true it warrants a premium because it saves you quality of life time. Time is the one thing you can’t get back.

Your commute is shorter ,the area amenities are near by, you have access to subway/ bus and rail system, you can walk almost anywhere, bike ride and you don’t need a car. This is what location encompasses, this is what people pay for. They should, it’s like first row seats at a concert or orchestra center stage at a theatre performance or ring side seats at a fight … Get the picture ?

Let’s look at supply and demand – this is when I say “everybody wants what everybody wants” the majority of buyers only want something that someone else is willing to buy because they believe it’s a commodity or a hot item or maybe even just keepin up with the Jone’s … Either way this drives up the demand. Once the rash is visible it begins to spread like poison ivy and people start buying like crazy and this drives up the market. If there is little supply but demand is high we enter bidding wars and over paying, clearly when the demand settles we encounter price drops especially when the supply is still on the high side. Let’s examine what happens when the supply and demand are both on the low side ?

Anyone wish to guess ? Any economists out there ? Gamblers ? ….

Well the market adjusts and keeps adjusting until the inventory starts to move, the prices come down and down , buyers get remorse and or cold feet , deals die and stagger on the market. Home owners play the off and on again game until they hit the number they hope for , this isn’t always the outcome.

Most brokers like stability but we work in a very unstable market. The only constant in Real Estate is change. Brokers like to speculate and assume the fall is going to spike and people come to market then but there are other factors that push real estate. 

When we see low demand and low supply we expect a bust to happen and we are not exactly sure when but its coming, what does that mean as long as you didn’t overpay during a high demand period you have nothing to worry about, as long as you don’t have to sell in a bust market you need not think about it, but if you bought in high demand time and must sell due to RATE increases you could lose 20-40 % that is painful ! OUCH !

The last bust was a drop of 20-40% there was a glut of inventory, demand dwindled and no one was buying , rates were fluctuating, banks were losing money, the economy went south and most of the new developments were just hitting the market … Speculators feel 2017 may have this very same effect, because of the new projects coming up and demand is down for the most part. I’m talking about this may- August.

Again anything can change this is the only constant in Real Estate but understand its at the hands of greater powers. 

Rates are due to rise this makes people nervous, especially those out there that like to take risk and want adjustable rates… Even a point can make or break a budget. We hear rates are to rise by end of year and continue in an upward fashion this alone generally drives Real Estate down since the monthly salary increase the overall price needs to decrease to keep it all moving.

The beauty about this business is that it’s always in demand, people always need a place to live and people buy / sell whether markets up or down! 

It is recession proof. Despite what people may perceive. 

Show me when Real Estate came to a halt ? Show me when everyone stopped buying, moving, renting ?

In the history of Real Estate it’s always moving. People are always buying and for most part people are always selling !

Look at it with an objective eye and get in on the low and hold it for years to come!

Any questions ? Need advice ? Want to buy but don’t know how ? Email me already !!

What are you waiting for ? Buy something 🙂

If someone would have told me that I would be witnessing the creation of a city 9 years ago, Im not sure I would have understood what they were talking about.

When I first moved to Brooklyn, Carroll Gardens I saw the potential that the area had, including the GOWANUS canal.

ORO was the first residential tower at that time, and it was barely out of the ground..I knew however that that would make an awesome investment property, however once they came to market the market had collapsed. The people that bought doubled their investment. !!! Some tripled it…then the next tower arrived and so on and so forth.

That area down on Gold and Tillary is clearly an extension of Manhattan BUT that’s not exactly what they would have referred to as the new city…

I visited today the 550 Vanderbilt Ave development showroom, which is part of Pacific Park.. NEW BROOKLYN NEIGHBORHOOD.

The city that I am watching them build is here inside of Brooklyn, the new parks, the new towers, the stadium , the developments that encompass these mammoth developments…the esplanades in Gowanus, In Bush Terminal, Sunset Park..Greenpoint, Williamsburgh … endless development.

I was way too young or rather not even born when Manhattan was being built, the city we know today is not the one of yesteryear. Brooklyn is following suit, The old Brooklyn is gone, and gone for good, the NEW Brooklyn has arrived and continues being built…it will have a skyline, it will have water front it will have all the nooks and crannies that Manhattan has.

From Dumbo, to Sunset Park, I have been fortunate to see with my own eyes how, a city is built. I must say its quite impressive … now that I know the signs I hope to use my visionary skills and seek out the next future city …and start investing there. Keep your eyes open …its coming sooner than you think.

As Real Estate Professionals we have to be ready for the ups and downs of our career.

The only constant in our business is CHANGE. Therefore we must always be willing to make the needed changes to enhance our business when we are slow, or improve on our tech skills when the market is up!

Every Broker big or small rides the same waves, you are not exclusive ha ha ! During these markets we just have to lump it up and say let’s improve where we can and cut the fat where it exists…

change has to be something you are willing to embrace to have a successful business in this field! Last week I wrote about whether or not this is the career for you ?

It’s not for all but it does allow for flexibility and creativity, stay active and don’t give up just because the ride feels like it’s over, it’s not the necxt deal is waiting there for you right now! 

I’m sure that there is an expired rental listing or sale listing that you can convert to a lead, or a past client may have a friend who is looking to rent .. Either way there’s always business to be had!

it may not be right now or when we want it, heck at times we feel like we will never see another listing…

Or sell the one we have, but rest assured it all works out in the end ! 

Remember Real Estate fluctuates therefore so does our inventory, our livelihood , and our emotions . learn to enjoy the ride, sit back relax and make a change.

Email me for private consultation on HOW to get you out of the slump you are in !

Hmmmm, so many people are enamored with the Real Estate Business that they question whether or not they should get licensed.  Questioning yourself is a great start but no one ever asks the right question’s.

When considering a career move especially to an Independant status you need to ask someone who has been in the field for a while and make a list of the pro’s and con’s and STOP looking at the commission potential only !

There are so many components to consider, I have been an IC ( Independant Contractors) for many years even in my last career so I was already accustomed to commission work and pay schedules being different , based on your production only. However I had come from a paying job with loads of benefits prior to my first IC sprint.

Despite the fact that it’s 20 years later and I am still an IC, I miss the steady flow of money and the paid benefits !

The constant need to drum up business and keep leads coming in is exhausting especially with an 8 year old at home LOL, but what keeps me doing this is the 8 year old LOL .

I have become so comfortable in a non conforming profession where I draw my own schedule, and if I don’t want to go to an office I don’t have too that I am not sure I could adjust at 47 to a 9-5 position, clearly if push came to shove I would do it but since I am fortunate enough to not need too I would prefer to remain an IC for the duration of my natural life !

However it’s not for everyone ( me included at times), I miss the paid vacation time and paid medical the most !

As an IC it’s all on you, lead generations, sphere of influence, medical insurance ouch ! , vacation … What happens when an IC goes away and you have to leave your work behind ? It’s up to you to figure that out too. 

There’s a lot that goes into this career. You can earn as little or as much as you need or want, you can “work” as much or little as you want, you can vacation as much as your income allows and whenever you want !

Since this business is all about relationships it’s best to develop as many as you can whilst you have the chance.

Neighbors, friends and family . Start there and create a perception of yourself that people can trust and work with you, in order to have steady stream of income in Real Estate you have to have steady stream of listings or rental listings . A sale can take 3-6 months to close you may have to stay without money in between but your bills keep coming in.

As with most business that handles big numbers there are many variables to selecting this career and whether it’s right for you.. Email me for a quick check list form and let’s chat about it.

Someone once told me ….

“Real Estate is not easy but it sure is simple” 

Everyone at some point in their lives is on a quest for one or all of the above . Each one of these heavily sought after feelings are found within. However we are always seeking them outside of us, where we live, work, vacation etc.

It is at times easier to change where you are rather than who you are.

These very important ingredients make for a happier and more fulfilled life and to me are very similar to the serenity prayer of wisdom, acceptance and change.

That too comes from within. Being creatures of habit, change is always found to be difficult and we are always taught that knowing the devil at hand is easier than trying a new one or meeting a new one and we remain dormant. 

They say, success comes from failure, and change is a necessary ingredient when you are trying to succeed or remain successful. No one can give you that, that comes from within!

So everyday try on something new , if peace is what you seek find out why you are not at peace, if you need tranquility – evaluate where you are and make some adjustments, serenity – find an environment that offers a serene setting so when you are visually soaking it up you get to escape.

Accept where you are, you are where you were meant to be ( especially if you are not doing anything to change that) then where else would you be ? Wisdom comes with experience and intuition and vision – learn from others as you can’t possibly make all the mistakes on your own, people are great instructors let them lead you, or teach you . 

Change , start by taking 1 thing that you don’t do and do it. Even if it’s writing a blog or newsletter , making a call you don’t want to make, the only person that can change things in your life is YOU.

So you hate your job, can’t stand your tiny apartment , have no money, and you are not sure where to go or what to do …. Start with you, no one else has the answers but you, it may be time to  change your job for something that fulfills you , or a simple change in your environment and perhaps a move to a whole new place ! BUT remember YOU are the only constant in YOUR life and YOU are  stuck with YOU since all these ingredients have to be incorporated or modified by YOU , don’t forget to look inside before you change your outside !

Go … Don’t be afraid … Make that change !

What do you have to lose ?

Well, if you have never been you need to start exploring it ! I started about 5 years ago when I felt that the Atlantic Ocean and Fire Island surf was too rough for my son at the time.

We decided to explore other waterfront options. My husband loves to fish and vacation usually means a boat or pier is a must have ! We came across a town called Old Saybrook – inside of Old Saybrook there is a private beach town called Indian Town…. It has 2 beaches and a marina and club house !

Beach house rentals run anywhere from 1700  and up where as 2200 gets you a waterfront 3 bedroom unit with central air. Walk out to the sound where the surf is calm and the kids can walk around and the area is protected with private security ! A super bonus for neurotic moms like myself.

BOATS WELCOME ! Fishing  on the jetty is permitted with a license and you can take in the wonderful water views, salt air and fantastic friendly neighbors a true water side retreat !

A great escape from the concrete jungle ! I have explored other beach towns like Noank, Niantic and BeBe beach but I must say, there is something special about Indian Town !

Children selling hand made bracelets of yarn, fund raising for the local ice cream lady who recently had an accident and damaged her truck- Daisy is in rehab for her leg and will hopefully return to selling treats at beach and making kids happy. 

This is a gem of a place and Real Estate is limited ….. However it has been discovered ! The mansions have arrived and they are getting bigger and bigger- unlike the NY Gold Coast or the Hamptons pretentious and obnoxious attitude, wealth exists outside those borders in a more down to earth, real and calm environment – where people are weather beaten, always smiling and enjoying life without the high heels and florescent nail polish ! 

This is a great place to vacation or raise a family. You may even want to build a mansion and stay a while. Just remember to leave the attitude behind.

Cut the bow lines , set sail and explore the other side of the sound ! 

Hi,

If you are ready to buy a new home and not exactly sure where you want to live here’s a quick and easy list of things to ask your self and to do ……… before you dive in ! Remember it isn’t every day that we go out and spend a few hundred thousand dollars or for that matter MILLIONS … right ? So put in the time to make the right decisions, like you would do for anything else in your life.

1) Establish your price point

2) Establish your needs (in terms of size)

3) Establish your lifestyle needs (very, very important especially if you are thinking of an “up and coming” area)

4) Establish a relationship with a local, educated Broker ….who can assist you in this process

5) Zero in on 3 areas that will meet your needs and not necessarily your “wish list” as we all know what we want isn’t always what we need.

6) Spend at least 2 months visiting the areas, day/night , testing out the commute if needed, parking, the restaurants and bars, food shopping, laundry etc all the little things we forget to check out then find our selves at a loss for the things we NEED,

7) Hone in on an area and go in for the kill.

8) Make sure you have a great lawyer and home inspector or engineer (even in new construction !!!! )

9) Have the Broker hand hold you through the whole process and assist when it matters : NEGOTIATING and WINNING the BID.

10) Schedule your movers and enjoy your new digs ………..

Any questions ? Concerns ? Confused ? Email me – let’s talk about the market !

Real Estate looks like a glamour career, people have a mixed up perception of what it actually entails. The reality shows are exactly that a show, which contain actors and performers not necessarily great brokers.

This career isn’t for everyone there are key factors you MUST survive. Motivation isn’t the only key factor to this business, however it is a requirement. Make sure you like the business, make sure you are ready to learn continuously, be certain that you can wait to make your first deal. In the event that you can not wait at least 6 months to make your first deal this is not the business for . 

All agents and brokers alike ride the  roller coaster of this industry, even the top agents on the down slope make less than what they are accustomed to making so you must be prepared for that loss of income. 

There are so many variables in Real Estate that it would take me weeks to lay out. I want to hit on a few then you can email me with questions. 

To so degree a level of like ability is required, you must be able to attract people if you can’t rely on your network.

There are many like ability mini tests you can google and take one see if you are a likable person.

If you decide you will only work on projects then your math better be accurate and you better be able to stand up to the toughest and most analytical folks you will ever encounter.

The best way to learn and earn is to grow into it, mastering the inventory, feel confident when you speak  and just keep at it. Build relationships and make sure the foundation is a solid one. One where they will always call you create a fan club of folks. Create a large pool of people who like to talk to you even if it’s about sports ,food, cinema, fashion or anything else in between BUT make sure they know you sell Real Estate .

Contact me for some personal insight and questions I’m all ears .

Have a super productive morning ! 

Are you looking for real estate ? Not 100% sure on how to nail it down?

You have been to open houses for last 3 months, lost a few bids and are sick and tired, are you feeling defeated ?

Dont ! All you need is a buyer specialist, like myself.

Leave real estate to the professionals in the field, after all, you need to ask your self one question …

when will I be spending this much money again …it’s the largest purchase of a lifetime…not sure there is anything larger out there, so why go it alone ?

worried about brokers not co brokering ?

worried about losing it if the listing agent hears you have a broker ?

DONT MAKE A HUGE MISTAKE…interview and retain a buyers broker immediately.If it’s a listed property, you pay nothing to the broker.

if you are going to homes sold by an owner, you pay the broker if the owner will not.

in the end it’s totally worth the investment, you pay your dentist, shrink, medical dr.,financial advisors, stock brokers and no one wants to ever pay the person who will save you money, time and help invest it in the BEST vehicle available.

without a broker you may make a mistake and buy a studio for the price of a One bedroom, or a fake 3 bedroom etc..

this can be an issue if there is a market shift and life throws a curve ball and you have to sell during the shift, you will get caught holding the bag !!!

At bare minimum you should pay a consultant like myself a small fee to direct you and educAte you, my fee is affordable and my advice and guidance is priceless.

email me if you wish to discuss the market !

immagiocoli@yahoo.com

FED -up, sick and tired of moving, are you experiencing this in the Brooklyn area ?

Let’s rant about it !! So many renters are finding themselves moving from apartment to apartment.

Just when they settle in, and feel all cozy, the landlord announces a sale.

How to cope with a forever changing Real Estate market and STOP the insanity of moving…BUY.

You have to STOP spending , start SAVING. The only person that will NEVER throw you out is YOU.

Take control of your future and move to a place you can afford and buy. You need a job, and decent credit.

With as little as 10pct down you can buy a house – move to Jersey, or out to long island ? What about upstate NY. ? Even Queens has some GREAT co-op options with 20% down … you can buy a really nice 1 bedroom for 120k in Whitestone ..

Sometimes we have to say, hey I’m tired of paying movers, fees and relocating, the next move is right into YOUR own house.

The situation will happen where your next move may move you right out of Brooklyn. This is such a fast growing market, rents and condo pricing is out of control that most renters cant find comparable apartments.

So, start saving and consider buying if you wish to talk more about this topic let me know ! Maybe I can help you find your way home !