The Apple Peeled
The Apple Peeled is our proprietary, long-running newsletter delivered once-per-month right to your inbox. We gather everything you need to know about real estate and other worldly happenings that may affect the market and report them in an easy-to-digest format. In this everchanging world we’re in, there’s nothing quite like keeping our buyers and sellers armed with timely information that can dictate whether or not transacting right now makes sense for them.
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Latest articles
What happened in Real Estate in December 2023
The Federal Reserve’s mid-December announcement about stagnating interest rates—and potentially lowering them in 2024—appears to have had an immediate impact on New York City’s residential market. Since then, mortgage rates have already fallen more than a full percentage point, with a 30-year...
You Are Now Free to Move Around the Cabin
I was in Miami over New Years like a lot of New Yorkers. The weather was ehh, but it was still nice to get away for a few days during the holiday season. I relaxed, caught up with friends, ate a lot and enjoyed the Miami life. I had a great time. My flight home on the other hand, was a mess. I’ll...
Ask the Experts + At the Core
Archives
What happened in Real Estate in December 2023
The Federal Reserve’s mid-December announcement about stagnating interest rates—and potentially lowering them in 2024—appears to have had an immediate impact on New York City’s residential market. Since then, mortgage rates have already fallen more than a full percentage point, with a 30-year...
What Happened in Real Estate in November 2023 + E|A Team 2023 Recap
As we track market performance month over month, November shone as a bright spot in 2023. Contract activity for homes above $1 million showed stability in both New York City and Brooklyn. For the first time in 30 months, newly signed contracts increased in Westchester, and it was the second month...
What Happened in Real Estate in October 2023
Fall selling season has officially arrived! In October, contract signings in Manhattan and Brooklyn both increased annually across all the types of residential properties that we track for the first time in 18 months. According to a report by Miller Samuel for Douglas Elliman, it could be a sign...
Achieving the Dream of Homeownership
Every so often we’ll come across a client that we know we’ll never forget. Don’t get me wrong, we remember all our clients, despite doing this for 13 years and working with hundreds and hundreds of homeowners. But there are some where it might take a minute or two to recall the exact details of...
What Happened in Real Estate in September 2023
In New York real estate, the tides are turning for buyers! According to a report from UrbanDigs, September was the best month for buyers since the pandemic rocked the market in the spring of 2020. High interest rates are still deterring some from entering the market, so active shoppers have more...
What Happened in Real Estate in August 2023
Embrace the arrival of autumn, and a warm welcome to September! In light of the evolving real estate scene, we're dedicated to offering you an in-depth look at our primary markets: NYC, Westchester, and Miami. Join us as we explore the key highlights and developments that unfolded in these real...
What Taylor Swift Can Teach Us About Mortgages
Taylor Swift has never really been on my radar until this year, and I know, I’m late to the party. Of course, I’ve known who she is, and I can sing along to some of her big hits (see “Shake it Off”) but she’s not someone I would ever consider seeing in concert. Until now. After seeing the videos...
J-LO and Ben Affleck Could’ve Used a Mortgage
Earlier this summer Jennifer Lopez, or J-Lo as she’s known to her fans, and her husband Ben Affleck purchased an incredible Beverly Hills mansion for $60.85M. The home is 38,000 square feet, has 12 bedrooms, 24 bathrooms, an indoor sports complex with a pickleball and basketball court, and has a...
What Happened in Real Estate in July 2023
As inflation, interest rates, and volatile economic activity impact real estate markets nationwide, the importance of having trusted and knowledgeable brokers and lenders to guide you is clearer than ever. Thankfully, data points for all three look considerably better than they did at the end of...
Patience is a Virtue
Have you seen The Karate Kid? Of course, you have. I love that movie. For the handful of people who haven’t seen it, the movie tells the story of Daniel LaRusso, a high school teenager, who moves from NJ to CA with his mother to start a new life. Daniel, who wasn’t thrilled about the move to begin...
What Happened in Real Estate in June 2023
In all the markets we track—Manhattan, Brooklyn, Westchester, and Miami—the year-over-year trends for June told the same story: Newly signed contracts remained well below the activity totals of 2022, but the rate of decline was the slowest we’ve seen in about a year. The further we get from the...
Why ‘How Are Interest Rates’ is the Wrong Question to be Asking
When someone asks me ‘how are interest rates’ it’s for one of two reasons. Either they have a general curiosity of what direction I think they’re headed or they’re going to take my answer into consideration when deciding whether they should buy a home now or wait. Don’t get me wrong, interest...
What Happened in Real Estate in May 2023
New York City’s residential market sprang back to life in May after an April slump. As we head into summer, we’re busier than ever here at ESPINAL | ADLER, despite annual trends of summer slowing down after the spring rush. We love being able to help so many people in all our markets! In May in...
Make ‘em Offer They Can’t Refuse
The sun is shining, flowers are blooming, outdoor seating is now the preferred option and the Spring home buying season is upon us. It sounds lovely, right? Not so fast. For those in the midst of looking to buy a home, it feels less like a walk in the park, and more like the Hunger Games. It’s a...
What Happened in Real Estate in April 2023
New York has long ranked among the top destinations for international investment, and the current state of the U.S. dollar likely means the flow of international buyers in the city will continue in the coming months. In Manhattan, not only are international buyers driving market activity, but cash...
Dare I say, Refi?
It’s been a while since I’ve uttered the word “refinance”, let alone, typed it out, but here we are. 2022 showed that applications to refinance a home fell to a 28 year low. Basically, no one refinanced. There was virtually no point as interest rates spiked up. And it’s not as though people are...
What Happened in Real Estate in March 2023
New York City’s luxury market was less frenzied last year than it was in 2021, but it still outpaced all other luxury markets in the United States—and ranked third worldwide, following only Monaco and Hong Kong, according to Douglas Elliman’s annual wealth report. As we covered recently when...
Remember The Big Short? This Isn’t That
If you haven’t seen The Big Short, I highly recommend it. It’s a great movie based on the best-selling book by Michael Lewis which tells the story of the very few people who saw the 2008 financial and housing crisis coming, and the many who were blinded by what was right in front of their faces....
What Happened in Real Estate in February 2023
In a February report for Douglas Elliman, Miller Samuel’s Jonathan Miller said, “The consumer and the public narrative about the housing market is more negative than [the market] actually is.” It’s the perfect reminder: Don’t get frustrated or discouraged by comparisons to the home prices,...
It’s Never Too Early to Start
I hosted a dinner recently for ten people and I was beyond ill-prepared. I had that same feeling I had in high school when I had a paper to turn in and didn’t start it until the night before. You know the feeling, right? I procrastinated. Then I panicked. Then I rushed. It was 4:30 in the...
What Happened in Real Estate in January 2023
Despite noting concerns ranging from economics to geopolitics to rising interest rates, the Douglas Elliman | Knight Frank survey panel is optimistic about 2023. Without discounting those concerns, we are too! In the survey, real estate is cited as the leading opportunity for wealth creation for...
What Happened in Real Estate in December 2022
December closed out a complicated 2022 with the comforting return of some recognizable patterns. As balance returns to the buying process, we’re reminded of our favorite thing about real estate: There is always opportunity. Whether you’re buying or selling, our team at ESPINAL|ADLER can help...
Top 10 Things to Look Forward to in The World of Mortgages in 2023
10 Things to Look Forward to in The World of Mortgages in 2023 By: Scott Nadler I know what you’re thinking, and I completely agree. I can’t believe it’s already 2023. And I don’t know about you but 2022 was a wild year for me and the entire mortgage industry. For the vast majority of my 12 years...
What Happened in Real Estate in November 2022 + E|A Team 2022 Recap
With impacts often compared to 2021’s banner year and unrelenting economic news, it’s easy to lose perspective as we recap each month. Thankfully, November brought with it some typical seasonal behavior, and it has been refreshing to see familiar patterns returning for the second consecutive...