Winter RE News 2019 From The Next Move Team

Winter 2020 Stress-Less Real Estate A Team dedicated to Real Estate Needs of Baby Boomers and Seniors Welcome to our Winter newsletter! We want to share the latest real estate market news with you, give you a hint for a stress-less life, tell you what's going on in NYC and what's going on with us. Scroll down to see our new feature: Our Resource Partners  Next Move Team is on the go ... ‌ IN CONTRACT! The Leola 242 West 104th Street, 4-WF Broadway & West End Avenue $599,000 reduced $ 599,000  One Bedroom Co-op Maintenance $950mo ASF/ASM 600/56 Financing 80% FOR SALE 24 East 102nd Street, 6 East Harlem | Park Ave & Lexington Ave $350,000 HDFC 5 Room Co-op Bedrooms3 Maintenance $600 ASF/ASM 700/65 We're Investing ... Coming Up! Hope to see you there! Investment Experience from One of our Team . . . Marvin Vipler: "I purchased a coop sponsor unit in my New York City coop where sponsor rights are passed on. Coop sponsor units: Although there is a limited supply, coop-sponsor units provide special advantages to investors. But read the coop offering plan to check that sponsor rights are passed on when purchased from the sponsor or from another investor. Many offering plans allow for the passing on of sponsor rights as long as the purchaser does not occupy the unit: Unlimited subletting is allowed No flip tax is required on sales No board approval required for subletting No subletting or move-in fees I also purchased a home in a self-directed IRA and converted IRA savings into an investment home in Lake Tahoe, California. Self Directed IRA: Real estate can be purchased in a self-directed IRA. You have to do this thru a 3rd party, like a 1031 exchange. This home is for investment purposes only and neither I, nor my immediate family can occupy this home or it would be considered an illegal contribution to my IRA. It is managed by a property manager and is considered a B & B. All income and expenses must pass thru this independent 3rd party If you use ROTH IRA fends, all income and appreciation of the home is tax-free, since this investment was made with after-tax dollars."  Events & Market News we want to share... Latest Real Estate News New Tax Information! This increase in tax rates took effect with properties closing on or after July 1, 2019. The FY2020 budget passed by the New York State legislature on March 31 included tax increases in two tax structures applied to the sale of real estate. The transfer tax applies to the sale of all real property in the state. In New York City, the transfer tax rate will rise from 0.40% to 0.65% for residential properties sold for at least $3,000,000. The “mansion tax” on residential properties sold for at least $2,000,000 in New York City will also increase, by tiers, from the current 1.0% to a maximum of 3.90%. Market Report R NEW YORK 4th Q 2019 RESIDENTIAL REAL ESTATE MARKET REPORT The Manhattan real estate market stabilized in the fourth quarter, helped by lower rates, a strong stock market, and a stable US economy. Total sales of 2,404 were modestly down 1.2% year over year. Buyers are benefiting from weaker pricing trends with an average price per sq. ft. down 6% year over year. The mansion tax is negatively impacting high-end sales with sales down 38% in homes above the $5m mark. Sales of homes below $5m were actually up 1.6% year over year. For the full year 2019, the total number of sales were down 1.8% year over year, similar to 4Q trends. Median sales prices were flat year over year.  Sales are taking longer to close with days on market up 6% year over year to 99 days. Listing inventory was down 10% quarter over quarter and up 9% y/y. https://www.wernewyork.com/Home/MarketReports Winter Events Pratt Manhattan Gallery February 7– May 23 Monday–Saturday, 11 AM–6 PM Thursday until 8 PM Free and open to the public NEW OLD explores the potential for design and designers to enhance the experience of our later lives.  A touring exhibition from the Design Museum, London, in partnership with the Helen Hamlyn Trust. Sponsored by AXA PPP Healthcare with additional support from Versus Arthritis. NEW OLD is sponsored by The Achelis Bodman Foundation at Pratt Manhattan Gallery. Pratt Manhattan Gallery 144 West 14th Street Second Floor New York, NY 10011 What We Do for Our Clients... "Part Broker, Part Therapist" ..... to quote The New York Times We have helped many clients attain their relocation goals. Here are some examples. We can do the same for you or a loved one. Another Tip for Stress-Less Living... Are You... an Empty Nester? Children grown up? It may be wise to take this opportunity to reevaluate your living situation. How much space do you now need? Where do you want to spend the future? Cashing Out? It may be prudent and necessary to sell and use the funds from the sale of your home to manage retirement and daily expenses. Downsizing? Often the home purchased and lived in for many years is no longer manageable. It may be too large and therefore too difficult to maintain physically and financially. Let Us Assist You... Ina Torton Ina is the founder of the Next Move Team. She is a specialist in Stress Management and this skill is certainly relevant in working with people selling their longtime homes. Her background includes education and mind/body therapy. At the beginning of the women's movement, she pioneered a flexible work schedule agency for women returning to work called New Time. A born New Yorker, Ina has been a successful Realtor for 15 years. She treats her clients like family. Jan Epperson Jan's award-winning expertise in interior design/construction/relocation management can make all the difference when you are selling or buying a home. When selling, her staging skills can help bring in the best price. When buying, her vision and space planning skills help you narrow your search. targeting exactly what you want in a new home. After earning her MS from Pratt Institute and a long design career, Jan became a real estate agent in 2006. Fernando Branco Fernando strives to create, and secure value for each one of his clients. By listening to their dreams, and understanding their unique needs, he guides them towards opportunity, transforming dreams into reality. His aim is to win the trust of each client based on performance, dedication, commitment, loyalty, confidentiality, and the highest professional standards. Marvin Vipler Marvin has been a resident of the Upper East Side for the past 45 years and is well versed in the market there and throughout Manhattan. His experience as a former Treasurer of his Coop Board gives him familiarity with the financial workings of co-ops and makes him a great negotiator. His business background as the founder of the Computer Software Center is invaluable. Chris Lipman  Born and raised in New York City, Chris is known as an "Upper West Side Enthusiast" having lived in this fantastic neighborhood for over 30 years. He knows every aspect of the condo and coop market here and throughout Manhattan. His clients continually comment on how he helps to make what is one of the most stressful transactions in one's life a smooth, enjoyable experience. Chris has been an active member of the Real Estate Board of New York since 2001 and served as co-chair in a leadership position from 2008 - 2012.  Our Resource Partners John Sheeley, EA Chester, New York-based John Sheeley, EA began his career in the tax industry in 1987, passing the IRS exam in 1995. His career includes 13 years as a multi-unit franchisee of a national tax firm and 5 years as a tax manager at a regional CPA firm in New York. John is a National Tax Practice Institute fellow, Mr. Sheeley is also the founder of Tax Practice Pro, Inc, a national continuing education provider. His current teaching focus centers on problems of S corps, and taxation of non-resident aliens and those living abroad. He can be reached at john@taxpracticepro.com Sent by the Next Move Team at R New York Ina Torton, Lic RE Salesperson Jan Epperson, Lic RE Salesperson Marvin Vipler, Lic RE Salesperson Fernando Branco, Lic RE Assoc Broker Chris Lipman, Lic RE Assoc Broker R New York, Lic RE Broker Contact the Next Move Team at 917-921-6205. ask for Ina https://www.facebook.com/Next-Move-Team-NYC-RE-Experts-For-Baby-Boomers-Seniors-Real-Estate-Needs Take note of our new name! Charles Rutenberg LLC is now R New York.  We R Real Estate. We R New York www.weRnewyork.com 641 Lexington Ave, NY, NY 10022 PLEASE PASS ON TO FRIENDS!

Next Move Team at R New York | 641 Lexington Avenue - 22nd Fl, New York, NY 10022