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September 2009 Peak Rental Season 2009 Residential Market Report September 24, 2009 We are pleased to present our first Peak Rental Season 2009 Residential Market Report, a comprehensive analysis of the May–August Manhattan rental market. Peak Season Average Rents 2009/2008 Market-wide for Manhattan, the average 2009 peak season rental price for a studio was $1,763, representing a decrease of 11% from peak season 2008; a one bedroom, $2,425 representing a decrease of 8% from peak season 2008; a two bedroom, $3,431 representing a decrease of 11% from peak season 2008; and three bedroom, $4,533 representing a decrease of 8% from peak season 2008. Peak Season Vacancy Rates 2009/2008 The overall vacancy rate for Manhattan for peak season 2009 was 1.66% representing an increase of 0.47 in the vacancy rate from the peak season 2008 rate of 1.19%. Please click on the image to view full report.      Comments(0) Filed under: Manhattan, Market Reports, News, Rentals Share Mortgage Rate Update September 21, 2009 Regular Mortgages Jumbo Mortgages Source: BankRate.com View: three months   5/1 A.R.M.        4.29% 15-Year Fixed  4.65% 30-Year Fixed  5.16%           5/1 Jumbo         4.76% 15-Year Jumbo  5.63% 30-Year Jumbo  6.18%   Comments(0) Filed under: News, Sales Share Homebuying Season Could Extend into the Fall September 15, 2009 Homebuying Season Could Extend into the Fall Posted by: Prashant Gopal on September 11 (BusinessWeek) The spring buying season was a little longer than usual this year. Home sales gathered strength as the summer progressed. Pending home sales, for example, jumped 3.2% in July from the previous month (the sixth-straight monthly increase) and rose 12% from July 2008. Read full article here.   Comments(0) Filed under: News, Sales Share Seven New Rules for the First-Time Home Buyer September 15, 2009 Seven New Rules for the First-Time Home Buyer By RON LIEBER | September 12, 2009 (New York Times) Too many people bought too much house for too many years. Yes, the financial system almost collapsed because mortgage bankers and brokers told lies about loan terms and loosened standards in dangerous ways, and investment bankers packaged those loans into bonds that were far more toxic than ratings agencies predicted. But the roots of the mortgage contagion lie with all of us and our desire to own just a bit more house. Read full article here.   Comments(0) Filed under: News, Sales Share $8,000 Tax Credit: What Will Happen to Real Estate When the Tax Credit Expires? September 15, 2009 $8,000 Tax Credit: What Will Happen to Real Estate When the Tax Credit Expires? By Ilyce Glink | CBS MarketWatch.com Two months, 19 days. That’s when the $8,000 first-time home buyer tax credit expires. The real question is this: What will happen to the real estate market when the tax credit ends? Read full article here.   Comments(0) Filed under: News, Sales Share	RECENT POSTS NEIGHBORHOOD PROFILE – The Upper West Side 20 Questions with Tami Wasserman Five Reasons Why You Still Need A Real Estate Agent Citi Habitats Top Producers Celebration 20 Questions with Elizabeth Hamersley GRAMERCY/FLATIRON Neighborhood Profile Mortgage Rates Fall for Third Week FHA Sets Tighter Lending Requirements RELATED Events Manhattan Market Reports New Developments News Press Releases Rentals Sales All Sections ARCHIVES May 2010 April 2010 January 2010 December 2009 November 2009 October 2009 September 2009 August 2009 July 2009 June 2009 May 2009 April 2009 Add CitiBlog feed

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