If reading The Hunt stokes your deepest hopes that someday everything in life could work out, then you, too, are obsessed with the New York Times Sunday Real Estate section. Join us as we venture into the depths of this weekend's installment, figuring out along the way what the subtext of each story tells us about the state of the NYC real estate market using our bona fide Market Point system.
1.) Something most of us don't think about too much is the role of a flat screen television in the sale of an apartment. How ignorant we are, these things get brokers and buyers in a huff a lot more than we think!
- "But since flat-screen televisions now reign, and they don’t necessarily get packed up with the rest of the furniture when someone moves out, they have become the newest punch-list item that must be considered in an apartment sale. "
-“It seems to be a topic of discussion in every walk-through now before we close on an apartment. If a seller is taking their flat screen with them, I always will ask if they plan to fill and patch the holes left by the brackets, because I’m not going to let my buyer walk into a mess.” A broker's work is just never done. +1 MP
-"In a current listing she (Jill Sloane, a VP at Halstead) has for a studio on the Upper West Side, the owner has agreed to make the flat-screen a selling point. “It’s on the fact sheet and on the listing itself that the flat screen stays,” Ms. Sloane said." Can't hurt. +1 MP
"So, in addition to a renovated kitchen and hardwood floors, she said, the flat screen ranks as a bonus." Do you readers think this is really going to draw in any buyers?
[Flat-Screen TV's Have Become The Newest Amenity]
2.) The Hunt featured a Mr. David Fudge this week, who is looking for a renovated studio in the West Village or Chelsea. His budget of $500,000 led him on a path of disappointments and a few failed bids. Not to despair as, with most Hunts, it has a happy ending. Let's take a look at some choice moments of this search.
- “My fear was being 30 and living in a rental"
-"He was unlikely to find a place larger than an alcove studio in his range, which was $500,000 at most. Moreover, he wanted something recently renovated: no fixer-uppers or shabby rehabs for him." Pretty ambitious expectations, we think. +1 MP
-"He found a studio in an Art Deco building at Seventh Avenue and 20th Street. It was so small that he would have needed a Murphy bed. And the building lacked a doorman. (The studio later sold at list, $425,000.)" -1 MP
-"I didn’t notice much of a jump in quality or size from $450,000 to $550,000,” he said. “You really needed to go over $600,000 to get something significantly different.” Knowledge bestowed only upon those deep into The Hunt. +1 MP
-"a lovely alcove studio with a first-rate renovation, listed at $429,000. When he visited, he immediately thought, “I could live here...Mr. Fudge paid $401,000. Maintenance is just over $1,000 a month. He arrived in June." This place on 16th Street and Seventh Avenue seemed to fit the bill! +2 MP
Some people just like to do things step by step. David Fudge is one of them, "So, by a two-year margin, Mr. Fudge achieved his goal of owning his own home by age 30. His new goal is not to be living in a studio by age 35." Think his future search is going to be chronicled by Joyce Cohen?
Finding a prime downtown studio in great condition under the half million mark isn't easy, but in this case you can have your Chelsea studio and eat it too. Alas no bedrooms, but 3 Market Points for a grand total of 5 Points!