Realestock Blog

The NYC Real Estate Expo is back for it's second year on Friday, November 5, and Realestock will be there – are you attending? Hosted at the New York Marriott Marquis in Times Square, the expo is the premiere venue for real estate experts in New York.

Over 160 vendors will be exhibiting and dozens of industry leaders will be giving talks and seminars. Realestock CEO Tim Vasko will be speaking at 2:00 pm in the Carnegie Room, leading a discussion titled: The Rest of your REAL Estate Career:  How the REAL impacts of the economy, social networks and technology will affect you and real estate in the next 20 Years. Seating is limited, so be sure to come early.

"The NYC Real Estate Expo is a great opportunity to learn from the stories and tested methods of our hugely successful speakers as they cover the most relevant topics affecting the real estate market today," said Executive Director of the Expo, Anthony Kazazis.  "Though many debate about the current state and future of our real estate market, one thing remains clear, it is imperative for industry professionals to keep abreast of the latest trends and changes, and stay on top of the best products and services that our area businesses have to offer.

"Pre-registration for the event is only $30 online ($50 at the door.)  For more information on registration, exhibiting or for our seminar schedule, please visit www.nycrealestateexpo.com.  "The NYC Real Estate Expo will be the must-attend real estate event in New York City,” said Kazazis "Come join us for this dynamic real estate shopping, information gathering and networking opportunity."

Photo: Ross2085, Flickr

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Want to get in on a hot market? Look no further than New York City.

In the third quarter of 2010, real estate sales in the city surged in a big way. Sales were 26% percent higher than at this time in 2009, and 11% higher than they were in the second quarter of the year. Bolstered mainly by strong condominium sales across the city, Manhattan lead the way with a sales increase of 25% above the second quarter of the year. Brooklyn was not far behind, with condo sales doubling in that borough. 

“The entire market is improving,” said Michael Slattery, Senior Vice President at the Real Estate Board of New York (REBNY). “There is generally an improving mood out there… Interest rates are low and prices are stabilizing.” According to figures provided by REBNY, NYC real estate prices rose considerably in 2010.  Across NYC the average increase was 7% over 2009 prices - the average price of a home in NYC is now a jaw dropping $854,000.

On the commercial front, the news was even better. Despite falling rents, the market is strongly up. During the first nine months of the year, commercial property investments in Manhattan totaled $9.4 billion dollars, an incredible 168% increase over the $3.5 billion in commercial property transactions completed in all of 2009. Although the overall vacancy rate edged up to 10.9% new retailers are eagerly picking up leases, particularly as discount retailers like TJ Maxx, Forever 21 and Syms are aggressively expanding to take advantage of current market conditions. 

While experts like Slattery have noted that sales and transactions tend to dip in the fourth quarter due to holidays and cold weather, the rapidly growing market and historic low rates may continue to fuel the NYC real estate market’s return to normalcy.

Photo: Jose Wolff, Flickr

Sources: The New York Times, HousingWatch.com, Crain's New York Business, MarketWire, NuWireInvestor

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Well known for having the hottest real estate market in Canada, Vancouver defied market trends, with the average prices increasing despite the worldwide recession. Famous for incredible mountains, a strong economy and being an olympic host city.

What do you get for $1,000,000?

If you’re looking for a home to call your own in Vancouver without moving to the suburbs or the rougher east side, and all you have to spend is a million, you’ll be looking at a fairly modest house pretty far away from downtown. The better bet is on a condo - in the million dollar price range, you can get yourself a two bedroom sub-penthouse in the tony Yaletown district.

Trendy Sub-penthouse Condo - Vancouver

Size: 1049 sq feet

Bedrooms: 2

Bathrooms: 2

Price: $999,900 CAD

Tokyo, Japan

The original housing bubble economy, Tokyo real estate is expensive because the city is incredibly crowded - over 8 million people live in the city proper, but adding all the outlying suburbs and towns that are connected by the massive rail network swells that number to a mind blowing 30,000,000 people. With so many people wanting to live in a limited area, real estate is valued above all else.

What do you get for $1,000,000?

A surprisingly large apartment in Kagurazaka - a neighbourhood in the classy, ultra-modern and fashionable Shinjuku Ward of Tokyo. Kagurazaka boasts tree-lined streets, some of the best traditional Japanese restaurants in Tokyo, and lots of of history - the area was home to geisha and artists in the 18th century. Watch out for the extra fees though - parking, building management and maintenance fees are an extra $1,300 a month!

Modern Family Home - Tokyo

Size: 125.55 sq m (1,351 sq feet)

Bedrooms: 3

Bathrooms: 1

Price: ¥89,500,000 (or about $1,002,129 CAD)

Seattle, Washington, USA

Seattle - the home of high tech companies such as Amazon and Microsoft, and the birthplace of the global obsession with good coffee. Despite its high tech industry, Seattle is delightfully down to earth, filled with funky, hole in the wall eateries and friendly people.

What do you get for $1,000,000?

A brand new apartment right the middle of downtown with a waterfront view - and only a few blocks from the internationally famous Pike Place market. The Fifteen Twenty-One Second Avenue condominiums have floor to ceiling windows, high end appliances and all the amenities that you’d expect to have in a million dollar apartment in one of the best and most exciting parts of Seattle.

Brand New Downtown Digs - Seattle

Size: varies (from 1,787 sq feet)

Bedrooms: varies

Bathrooms: varies

Price: $1,000,000 USD + (or about $ 1,032,680 CAD +)

Paris, France

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