William Yau - Real Estate Advisor

Just listed! Build your dream home in Clearview Gardens in Whitestone. This 2-bed/1-bath has tons of potential and sits in a pin drop quiet garden complex. How often can you find a 2-bedroom for $310,000?

Just listed...best valued 2-bed condo in Queens

Briar Manor is one of Queens best kept secret and affordable neighborhoods. The apartment is boasting large windows, an abundance of natural light, and a private balcony. The open-concept kitchen new stainless steel appliances providing durable finishings and essential storage space. The primary bedroom features a walk-in closet and is large enough to fit a king size bed.

The amenities include a fitness center, children’s playroom, elevator, and laundry room. Residents have easy access to Grand Central and the Van Wyck. Public transit options include E/F and multiple bus routes including the QM21 bus goes directly to Manhattan. Street parking is readily available in this neighborhood, but there is also a 3rd party parking garage available for rent.

Asking price: $540,000
Common Charges: $410
Monthly Taxes: $256

New listing 2-bed/2-bath condo in Rego Park! This apartment is flooded with natural light. Building amenities feature all the essentials from a fitness center, bicycle storage, common outdoor space, laundry room, and parking garage. Best part common charges and taxes are ONLY $415 combined due to tax abatement.

Asking price $695,000
Address: 62-98 Woodhaven Blvd Apt 4I

Happy Lunar Year! Wishing you all health and prosperity

November round up closings: Some takeaways I have experienced and learned from these deals:
1) There is a way financing can beat a cash buyer
2) Indecisiveness can lose a deal and speed matters.
3) Set expected closing date expectations very early in the negotiation

First open house this Saturday 9/9 12-2pm. Check out this 3-bed 2-bath condo located in the heart of Kew Gardens.

It has a the pre-war charm with a working fire place yet modern amenities like ductless HVAC systems in every room and washer and dryer in unit.

The building features a secured gatehouse, common courtyard garden in the center of the complex, free bike storage, an updated fitness center, and laundry room, and rooftop with 360 views of NYC. The best part the common charges are only $648 per month!

Location is impeccable with 15-20 min commute to midtown via LIRR and quick walk to the E/F train. The building is also adjacent to PS 99 and Erza Jack Pre-school, and tons of local faves off Lefferts Blvd.

Deals can be found in this market. When submitting an offer:

1) Understand the days on market and seller's motivation (e.g. investment property, seller is moving, etc.).

2) Do not submit offers that can be insulting. This sets a negative tone for a potential negotiation.

3) Multi-family homes provide great value to subsidize a mortgage especially in this high interest rate climate.

Please be on the lookout for an upcoming rental unit in this home!

Congrats to my buyer on purchasing their first home! Understanding your budget, criteria, and set expectations helps streamline the process.

1. Budget- Consider a 20% down payment to have a competitive edge

2. Criteria- Distinguish between must haves and needs

3. Expectations- Check out homes within your budget: if it’s too good to be true, expect more risk but really, keep on (the sad but beautiful truth about NYC real estate)

When people finally realize Queens has great value….

Everyone is trying to move to Queens right now The outer borough is now the most competitive rental market in NYC.

Brooklyn contract activity peaked again in May. With median discounts retreating towards to the seller side. Does this predict a shift to the seller's market. We think no since it appears seasonality trends are finally coming back. With the summer approaching, it will be a better indictor if the shift was temporary or falls back to seasonal trends.

Elegran Brooklyn Market Update: June 2023 - Elegran | Forbes Global... Photo by Sven Becker on Unsplash Brooklyn Market Update: Temporary Seller’s Advantage Within a Buyer’s Market Elegran’s Leverage Indicator is a comprehensive market snapshot

Brooklyn witnessed +4% supply month-over-month and -11% contracts signed month-over-month. However the median price/SF has +12% month-over-month and +6% median sales price meaning pricing is moving away from the buyer's interest.

Elegran Brooklyn Market Update: May 2023 - Elegran | Forbes Global ... Brooklyn Market Update: It Remains a Buyer’s Market Elegran’s Leverage Indicator is a comprehensive market snapshot

For now the Manhattan market remains a buyer's market. Supply has +9% month-over-month but signed contract activity -27% month-over-month. As we head into the summer, it is the seasonal trend that supply will increase and peak in June. Activity peaks in March and fell off in April as new inventory reaches the market.

Elegran Manhattan Market Update: May 2023 - Elegran | Forbes Global... Manhattan Market Update: It Remains a Buyer’s Market Elegran’s Leverage Indicator is a comprehensive market snapshot

As is typical of spring, supply has been ticking up, which favors buyers. Price/SF is waning and median listing discount is on the rise, both of which also favor buyers. So, it would appear to be a buyer’s market if not for demand.

Demand has been intensifying rapidly, shifting the direction of the curve — at least since January — toward a seller’s market. Whether this is only a temporary shift (within the larger trend of a buyer’s market) remains to be seen.

But the take-home message is this: demand is strong. It’s so strong, in fact, that it may have single-handedly shifted the market toward favoring sellers.

Great way to check out local eateries in Sunnyside

https://sunnysideshines.org/past-events/2023-sunnyside-restaurant-week-support-your-local-

Monthly updates for Manhattan and Brooklyn. Currently both are buyer's markets. With Spring listing season upon us, the question is how long this will remain?

Let me know if you want to discuss.

Click below to learn more in this month's Manhattan Market Update! 👇
https://bit.ly/3ypN0KH

Click the link 🔗 to find out more in this month's Brooklyn Market Update. https://bit.ly/3JusKhy

Everlasting debate if NYC will convert office space to residential housing.

Midtown Owners Hedge on Costly Office-to-Home Conversions Landlords need Albany action to turn Manhattan commercial buildings into apartments — and that’s just the start of their challenges.

Still wonder how some of these characters afforded their homes

Here’s how much Carrie’s ‘Sex and the City’ apartment might cost today We've always wondered how a columnist could afford it!

Brooklyn Market Update: A Pendulum Stuck on the High Side

Demand for Brooklyn since mid-July 2020 is simply jaw dropping. December supply was lower in comparison to the two previous years; though total 2022 supply has been steady. Since mid-July 2020, Brooklyn has averaged +60% more contracts signed pre-pandemic (defined as Jan 5, 2015 to Mar 1, 2020).

With the current economic climate suppressing demand, Brooklyn is in the grips of a buyer's market. However, we see a change in trend direction building, suggesting that a transition to a seller’s market is on the horizon.



https://medium.com/elegran-insights/elegran-brooklyn-market-update-january-2023-e5d27d6facc

Elegran Brooklyn Market Update: January 2023 Overall Brooklyn Market Update: January 2023

2022 is coming to a close!

Considering re-entering the market to find your dream home? 🔑🏠

Here are FIVE WAYS you can prepare for real estate success in a high-interest NYC market. 👍

Conversely from the rest of the nation, Brooklyn is on trend as a buyer's market. In relation to its pre-pandemic average (the period Jan 5, 2015 — Mar 1, 2020), Brooklyn’s residential real estate market is hot. White hot. Despite lofty mortgage rates, demand for the borough is nearly 2x that pre-pandemic average, and November’s price per square foot (although not yet final as data continues to post) is approaching the all-time high reached in 2017.

https://medium.com/elegran-insights/elegran-brooklynmarket-update-december-2022-fe0ac01e9f85

Elegran Brooklyn Market Update: December 2022 Brooklyn Market Update

Thank you to the brave woman and men for serving our country.

Congrats to my clients in purchasing their first home 🎉! After losing out on previous offers, they never lost hope. Fortunately, we found a great seller, making it one of the smoothest transactions ever! (We even had a seller give us a 2.5 hour thorough walkthrough).
Thank you for trusting in me with this life changing purchase.

For Millennial prospective home buyers, you likely think the mortgage interest rates are very high. Here is a historical perspective on mortgage interest rates. Any baby boomer home owner will have a different perspective on what a high mortgage rate looks like.

https://www.linkedin.com/posts/activity-6983843470217986050-DR-5?utm_source=post_nba&utm_medium=member_desktop&utm_campaign=copy

William Yau on LinkedIn: Elegran Manhattan Market Update: October 2022 September is historically a less active month due to transition between summer to fall season. However the last 4-months of contract activity are on par with…

Elegran Real Estate has be selected to exclusively represent Forbes Global Properties in the five boroughs!

https://www.linkedin.com/posts/activity-6980598376400613376-OwYI?utm_source=post_nba&utm_medium=member_ios&utm_campaign=share_via

William Yau on LinkedIn: Forbes Global Properties Welcomes Elegran to Exclusively Represent the… Forbes Global Properties Welcomes Elegran to Exclusively Represent the Prestigious NYC Marketplace

The countdown is on! Now, more than ever, you need the right Advisors by your side. Lets chat about why we’re different.

The countdown is on! Ready to plan your entry to the market? Let’s chat about a custom strategy

Happy 4th of July and 4 days out! Wishing everyone has time to spend with their friends and family today.

The countdown is on! Uncertain about how to navigate today’s real estate market?

The countdown is on! Looking to buy or sell? Contact us to hear how we work in partnership to meet your goals.