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	<title>Seema Aggarwal &#187; interesting news</title>
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	<description>New York City Real Estate</description>
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		<title>Newest Statistics for the NYC Real Estate Market</title>
		<link>http://seema.aggarwals.com/newest-statistics-for-the-nyc-real-estate-market</link>
		<comments>http://seema.aggarwals.com/newest-statistics-for-the-nyc-real-estate-market#comments</comments>
		<pubDate>Sat, 21 Nov 2009 20:18:42 +0000</pubDate>
		<dc:creator>seema.aggarwal</dc:creator>
				<category><![CDATA[Blog]]></category>
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		<category><![CDATA[real estate news]]></category>

		<guid isPermaLink="false">http://seema.aggarwals.com/?p=323</guid>
		<description><![CDATA[Wondering how the NYC real estate market is doing? Here are some statistics that may surprise you. 

The number of signed CONDO contracts for October 2009 is up 32% over September 2009, and is up 135% over October 2008.
October boasted the most condominium signed contracts for 2009.
The number of signed COOP contracts for October 2009 [...]]]></description>
			<content:encoded><![CDATA[<p><strong>Wondering how the NYC real estate market is doing? Here are some statistics that may surprise you. </strong></p>
<ul>
<li>The number of <strong>signed CONDO contracts </strong>for October 2009 is <span style="text-decoration: underline;">up 32%</span> over September 2009, and is <span style="text-decoration: underline;">up 135% over October 2008</span>.</li>
<li><strong>October boasted the most condominium signed contracts for 2009</strong>.</li>
<li>The number of <strong>signed COOP contracts </strong>for October 2009 is <span style="text-decoration: underline;">up 30%</span> over September 2009, and is <span style="text-decoration: underline;">up 160% over October 2008</span>.</li>
<li>At this point in November – a little more than halfway through the month &#8211; <span style="text-decoration: underline;">the number of signed contracts this month is already more than the total for November 2008</span>.</li>
<li>Co-op sales generally increase 5% in November; <strong>November co-op sales will most likely be higher than October </strong>if the pace of sales remains steady</li>
<li><strong><span style="text-decoration: underline;">Available inventory is at its lowest in 21 months</span></strong>– down 24% from its peak in March 2009.</li>
<li>Total available inventory is approximately 9,300 units (last at this level in March 2008).</li>
<li>The <span style="text-decoration: underline;">average CONDO sale price is $1.95M</span> in Q4 2009, 29% higher than Q3 2009 and 12% higher than Q4 2008</li>
<li>Buyers are purchasing larger residences this quarter versus Q3 2009</li>
<li><strong>Price per square foot increased 15% versus Q3 2009 </strong>as the high-end of the market rebounded – more resales in trophy buildings around Central Park</li>
</ul>
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		<title>Remembering the Past, Looking to theFuture</title>
		<link>http://seema.aggarwals.com/remembering-the-past-looking-to-the-future</link>
		<comments>http://seema.aggarwals.com/remembering-the-past-looking-to-the-future#comments</comments>
		<pubDate>Fri, 11 Sep 2009 12:24:53 +0000</pubDate>
		<dc:creator>seema.aggarwal</dc:creator>
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		<guid isPermaLink="false">http://seema.aggarwals.com/?p=245</guid>
		<description><![CDATA[Eight years ago today, the US experienced a terrible tragedy. As we still feel the hurt and loss of approximately 3,000 people, it is important to remember and honor our past. Here is a picture of the Twin Towers as they stood before the terror attack.
Looking to future plans for the area, here is a [...]]]></description>
			<content:encoded><![CDATA[<p>Eight years ago today, the US experienced a terrible tragedy. As we still feel the hurt and loss of approximately 3,000 people, it is important to remember and honor our past. Here is a picture of the Twin Towers as they stood before the terror attack.</p>
<div id="attachment_246" class="wp-caption aligncenter" style="width: 298px"><img class="size-full wp-image-246" title="World Trade Center Towers" src="http://seema.aggarwals.com/wp-content/uploads/2009/09/twin-towers.jpg" alt="The Twin Towers" width="288" height="360" /><p class="wp-caption-text">The Twin Towers</p></div>
<p>Looking to future plans for the area, here is a rendering of the proposed plans for the 16 acre site. Still under construction with a completion date several years out, we honor the fallen with a renewal of both building and of hope:</p>
<div id="attachment_247" class="wp-caption aligncenter" style="width: 316px"><img class="size-large wp-image-247" title="New_wtc" src="http://seema.aggarwals.com/wp-content/uploads/2009/09/New_wtc-306x400.jpg" alt="Proposed Plans for WTC Site" width="306" height="400" /><p class="wp-caption-text">Proposed Plans for WTC Site</p></div>
<p>The complex will include a National September 11th Memorial and Museum, 5 newly built skyscrapers, a transportation hub, shops, and a performing arts center. For more information, visit www.wtc.com</p>
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		<title>NYC&#8217;s Very Own Railway to Trailway: The Highline</title>
		<link>http://seema.aggarwals.com/the-highline</link>
		<comments>http://seema.aggarwals.com/the-highline#comments</comments>
		<pubDate>Tue, 08 Sep 2009 16:05:12 +0000</pubDate>
		<dc:creator>seema.aggarwal</dc:creator>
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		<guid isPermaLink="false">http://seema.aggarwals.com/?p=231</guid>
		<description><![CDATA[The newest addition to Far West Chelsea has been a city-wide hit: The Highline has finally arrived! This stretch of old Manhattan remnants was, as reported on abc.com an &#8220;elevated railroad &#8230;constructed to replace dangerous street-level train lines on a path nicknamed &#8220;Death Avenue.&#8221; Before the High Line was built, horsemen carrying lanterns would ride on [...]]]></description>
			<content:encoded><![CDATA[<p>The newest addition to Far West Chelsea has been a city-wide hit: The Highline has finally arrived! This stretch of old Manhattan remnants was, as reported on abc.com an &#8220;elevated railroad &#8230;constructed to replace dangerous street-level train lines on a path nicknamed &#8220;Death Avenue.&#8221; Before the High Line was built, horsemen carrying lanterns would ride on the tracks to warn pedestrians of incoming trains.<br />
(Author Unknown, 1934/ Courtesy of Friends of the Highline )&#8221;:</p>
<div style="MARGIN: 8px 0px">(old Highline, courtesy of abc.com)</div>
<div style="MARGIN: 8px 0px">
<div id="attachment_235" class="wp-caption aligncenter" style="width: 334px"><img class="size-large wp-image-235" title="Original Highline" src="http://seema.aggarwals.com/wp-content/uploads/2009/09/Old-Highline1-324x400.jpg" alt="circa 1934" width="324" height="400" /><p class="wp-caption-text">circa 1934</p></div>
</div>
<p><span id="more-231"></span><br />
In time for summer enjoyment, the old tracks have been magically transformed into a walking path, complete with landscaping by top landscape architects James Corner Field Operations plus architects from Diller Scofidio + Renfro. Creating a business opportunity for NYC&#8217;s entrepreneuers and cause for more valuable real estate, the area will be injected with new shops, restaurants, and services. Who needs the Meatpacking District when you have The Highline?</p>
<p>(present-day)</p>
<div id="attachment_221" class="wp-caption aligncenter" style="width: 543px"><img class="size-large wp-image-221" title="The Highline" src="http://seema.aggarwals.com/wp-content/uploads/2009/08/The-Highline-533x400.jpg" alt="Green space in the sky" width="533" height="400" /><p class="wp-caption-text">Green space in the sky</p></div>
<p>for more information, visit The Friends of the Highline at www.thehighline.org</p>
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		<title>Central Park has seen better days&#8230;</title>
		<link>http://seema.aggarwals.com/central-park-has-seen-better-days</link>
		<comments>http://seema.aggarwals.com/central-park-has-seen-better-days#comments</comments>
		<pubDate>Mon, 07 Sep 2009 18:04:19 +0000</pubDate>
		<dc:creator>seema.aggarwal</dc:creator>
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		<description><![CDATA[Last week, NYC&#8217;s largest park was hit with two nights of severe thunderstorms. This view looking over 1136 Fifth shows the beginning of the onslaught.

Now, the aftermath:
]]></description>
			<content:encoded><![CDATA[<p>Last week, NYC&#8217;s largest park was hit with two nights of severe thunderstorms. This view looking over 1136 Fifth shows the beginning of the onslaught.</p>
<div id="attachment_220" class="wp-caption aligncenter" style="width: 483px"><img src="http://seema.aggarwals.com/wp-content/uploads/2009/08/Dark-Night-473x400.jpg" alt="NYC&#039;s latest foreboding skies" title="Dark Night" width="473" height="400" class="size-large wp-image-220" /><p class="wp-caption-text">NYC's latest foreboding skies</p></div><br />
<span id="more-223"></span><br />
Now, the aftermath:</p>
<p><div id="attachment_222" class="wp-caption aligncenter" style="width: 543px"><img src="http://seema.aggarwals.com/wp-content/uploads/2009/08/100-yr-old-tree-Chopped-533x400.jpg" alt="100 year old tree after the storm brought it down" title="100 yr old tree - Chopped" width="533" height="400" class="size-large wp-image-222" /><p class="wp-caption-text">100 year old tree after the storm brought it down</p></div>
]]></content:encoded>
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		<title>Increased Activity Reported Across the Boards</title>
		<link>http://seema.aggarwals.com/nyc</link>
		<comments>http://seema.aggarwals.com/nyc#comments</comments>
		<pubDate>Tue, 16 Jun 2009 03:11:45 +0000</pubDate>
		<dc:creator>seema.aggarwal</dc:creator>
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		<description><![CDATA[With news outlets continuing to report record numbers of home foreclosures and bankrupt states (ahem, California), the NYC real estate market is showing an increase in traffic in both the sales and rental markets, up from just a few months ago. Open houses and weekly appointment data support the fact that buyers and renters are [...]]]></description>
			<content:encoded><![CDATA[<p>With news outlets continuing to report record numbers of home foreclosures and bankrupt states (ahem, California), the NYC real estate market is showing an increase in traffic in both the sales and rental markets, up from just a few months ago. Open houses and weekly appointment data support the fact that buyers and renters are on the move and making more property visits. The traditional rental months of May-September are acting as they have in years past: good inventory <em>is</em> moving quickly. The difference this year is that saavy renters know that they may likely land a property that is larger or in a more desirable neighborhood for the same or less monthly rent than they paid in 2008. On the buy side, although not a lot of new inventory will likely make it to market before the Fall, customers can shop peacefully now to find the right home. Whether it is a condo, coop or rental, the great weather and better moods are making people hit the pavement.</p>
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		<title>New York City Residents prefer NY to Any Other: New York Times article today</title>
		<link>http://seema.aggarwals.com/new-york-city-residents-prefer-ny-to-any-other-new-york-times-article-today</link>
		<comments>http://seema.aggarwals.com/new-york-city-residents-prefer-ny-to-any-other-new-york-times-article-today#comments</comments>
		<pubDate>Thu, 19 Mar 2009 18:48:29 +0000</pubDate>
		<dc:creator>seema.aggarwal</dc:creator>
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		<guid isPermaLink="false">http://seema.aggarwals.com/?p=124</guid>
		<description><![CDATA[New York City Sees Fewer Residents Leave for Other States
 
By SAM ROBERTS
 

New York City lost less population to other states in the 12 months ending July 1, 2008, than during any year in decades, according to census figures released Thursday. If that trend continues, the city’s population will top 8.4 million in 2010.

Gains and stanched [...]]]></description>
			<content:encoded><![CDATA[<h3>New York City Sees Fewer Residents Leave for Other States</h3>
<p> </p>
<div class="byline">By <a title="More Articles by Sam Roberts" href="http://topics.nytimes.com/top/reference/timestopics/people/r/sam_roberts/index.html?inline=nyt-per"><span style="color: #000066;">SAM ROBERTS</span></a></div>
<p> </p>
<div id="articleBody">
<p>New York City lost less population to other states in the 12 months ending July 1, 2008, than during any year in decades, according to census figures released Thursday. If that trend continues, the city’s population will top 8.4 million in 2010.</p>
<p><span id="more-124"></span></p>
<p>Gains and stanched losses in New York and a number of other large metropolitan areas in the Northeast, the Midwest and coastal California reflected, in part, slower growth in traditional domestic migrant magnets in the South and West.</p>
<p><a title="William H. Frey’s analysis." href="http://www.brookings.edu/opinions/2008/0321_migration_frey.aspx"><span style="color: #000066;">An analysis by William H. Frey</span></a>, a <a title="More articles about Brookings Institution" href="http://topics.nytimes.com/top/reference/timestopics/organizations/b/brookings_institution/index.html?inline=nyt-org"><span style="color: #000066;">Brookings Institution</span></a> demographer, found that Las Vegas, Orlando and Tampa drew fewer migrants than in any year in nearly two decades. Phoenix attracted only half as many as two years earlier. Booming Riverside-San Bernardino, near Los Angeles, recorded the first migration loss since the mid-1990s.</p>
<p>“The beneficiaries of this bursting migration bubble include large metro areas whose earlier high housing prices made the exurbs and interior metro hot spots seem too tempting to pass up,” Dr. Frey said.</p>
<p>Other demographers agreed that the reversals were stunning.</p>
<p>“This is one of the most complex patterns of migration change in a short period that I have seen in 30 years,” said Kenneth M. Johnson, a sociology professor at the <a title="More articles about University of New Hampshire" href="http://topics.nytimes.com/top/reference/timestopics/organizations/u/university_of_new_hampshire/index.html?inline=nyt-org"><span style="color: #000066;">University of New Hampshire</span></a>.</p>
<p>“This is new, a real deviation from the average,” said New York City’s chief demographer, Joseph J. Salvo. “Whether it’s a trend is another thing.”</p>
<p>The latest census estimate did not reflect the decline in private-sector jobs in the city late last year.</p>
<p>Dr. Salvo, the director of the Department of City Planning’s population division, said, “When you take a look at the conditions in the rest of the country and what has happened to the housing and economic market in a lot of places our migrants have gone to, it’s very tempting to conclude that perhaps people are staying put more because the opportunities that were afforded there are not there any longer or are no longer attractive.”</p>
<p>As of July 1, 2008, the census counted 8,363,710 New Yorkers, an increase of 355,000, or 4.4 percent, since April 2000. As a result, New York City residents now account for nearly 43 percent of the state’s population.</p>
<p>In the year beginning July 1, 2007, the city grew by nearly 54,000, with Brooklyn registering the biggest increase. During that year, 76,000 more people left the city for other states than arrived from other states, a sharp reduction from the annual average since 2000 of 148,000.</p>
<p>While <a title="More articles about immigration." href="http://topics.nytimes.com/top/reference/timestopics/subjects/i/immigration_and_refugees/index.html?inline=nyt-classifier"><span style="color: #000066;">immigration</span></a> from abroad has slackened some since the 1990s, the net influx of 73,000 foreigners was nearly enough to offset the domestic outflow. Also, longer life spans and higher birthrates among immigrants contributed to there being 63,000 more births than deaths.</p>
<p>“A growing population is one of the best defenses against housing abandonment and economic decline,” Mayor <a title="More articles about Michael R. Bloomberg." href="http://topics.nytimes.com/top/reference/timestopics/people/b/michael_r_bloomberg/index.html?inline=nyt-per"><span style="color: #000066;">Michael R. Bloomberg</span></a> said.</p>
<p>In the metropolitan area, Nassau County, on Long Island, and Essex County, N.J., recorded losses in the latest year. Hudson County, N.J., and Fairfield County, Conn., reversed earlier losses registered in the middle of the decade.</p>
<p>Los Angeles and Cook County, Ill., which includes Chicago, reversed recent losses, too.</p>
<p>While some places expanded more slowly than in prior years, most of the fastest-growing areas between July 1, 2007, and July 1, 2008, were still in the South and West. Raleigh-Cary, N.C., grew faster than any metropolitan area. St. Bernard Parish, La., was the fastest-growing county.</p>
<p>Metropolitan Dallas-Fort Worth, Houston, Phoenix and Atlanta each added more than 100,000 people in a year when 313 areas gained population and 50 lost. Most of the fastest-growing counties and metro areas were in Texas, Georgia, North Carolina, Utah and Idaho.</p>
<p>An analysis by Mark Mather and Kelvin Pollard of the Population Reference Bureau found that the population in counties with unemployment rates of 6 percent or more in 2007 grew by 0.3 percent, compared with 1.2 percent growth in areas with unemployment less than 4 percent.</p>
<p>While all but two states (Michigan and Rhode Island) gained population, they found, more than a third of the nation’s counties recorded losses.</p>
<p>Demographers agree that unemployment may be just beginning to affect migration patterns.</p>
<p>Dr. Johnson, who is the senior demographer at the Carsey Institute at the University of New Hampshire, said: “Migrants to metro cores tend to be younger adults, 20 to 29, who are less concerned about the housing market and more concerned about the job market. So, my best guess is that through the period covered by the census data they would have still come.</p>
<p>“On the other hand, those leaving metro cores tend to be in their 30s and 40s with children, so the housing market, particularly selling houses, is a big deal to them. The slowdown of the housing market has essentially frozen them in place. As a result, big metro cores are losing fewer people and continuing to gain young ones.”</p>
<p>Dr. Frey said the next round of census figures would better capture any trend. “Because these numbers do not yet include the substantial rise in unemployment that has occurred in the past several months,” he said, “there is no telling how much more air will be let out of the mid-decade migration bubble before the housing and labor markets begin to revive.”</p></div>
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		<title>What you may have missed this morning&#8230;</title>
		<link>http://seema.aggarwals.com/what-you-missed-this-morning</link>
		<comments>http://seema.aggarwals.com/what-you-missed-this-morning#comments</comments>
		<pubDate>Mon, 09 Mar 2009 17:25:38 +0000</pubDate>
		<dc:creator>seema.aggarwal</dc:creator>
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		<guid isPermaLink="false">http://seema.aggarwals.com/?p=63</guid>
		<description><![CDATA[Buffet is smart and not terribly pessimistic.  Take a page from his book, but not without buying first!

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			<content:encoded><![CDATA[<p>Warren Buffett spoke with his favorite CNBC correspondent, Becky Quick, this morning to discuss what America can&#8217;t stop thinking about: the current economic climate. See what he had to say below.</p>
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<p>He&#8217;s a smart guy &#8211; and not terribly pessimistic. Another good reason to take a page from his book (but not without buying it first!).</p>
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