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Unimpressed -- to have the vice president of town residential a -- handset now -- her knowledge and we're discussing we're changing here is very.
Sharply here how the real estate market has changed with the net.
It's changed dramatically buyers and sellers and brokers -- Where you want to be ten.
I'll begin back when I was fifteen years old because I have who was forced to work for my mother who was a real estate.
Agent broker and owner and I used after ride my bike around in the suburbs of New Jersey and take photographs with a Polaroid camera in front of houses and deliver them now waiting for our our -- it right yes and I would deliver them to her office and then -- staple them -- -- five by seven index cards.
And right information out.
About the houses and then.
I also was forced to -- my real estate license by her nineteen and the -- -- home from work I couldn't complain to my parents about my boss because it was my mother.
Right got -- Well that -- goods illustrate how the times have changed -- and driving around today house is now I can probably get on Google Maps with.
You can get -- all Google Maps but if you want to send a photo.
Or that they're really entire set up and an explanation about a property to somebody is instantaneous and -- senator from your iPhone or Blackberry your laptop your computer work.
So the dissemination of information is instantaneous.
As it speeds the process up.
Are we seeing this kind of eliminate all of the proper and -- -- not at all because there's so much more information out to go through that you need a broker.
To guide you through that and two to help you where it's a very labor intensive process when somebody tries to sell.
Her own home while it's like when they say if a lawyer represents themselves they have a fool for a client.
There's just too much work but -- -- -- properties all the time for people and -- most people will -- -- the home a few times in the life so you need somebody.
That's experienced in the process sending and that's been good for everybody and it's been wonderful it really didn't used to be at the mercy of broke her back in the day because when I bought my first -- -- really date myself this in 1981.
And then you call he went to New York Times.
You look -- things you call the broker out and then they would meet you somewhere like secretly what we can have Starbucks then you'd meet them at a coffee shop and they.
Have a portfolio.
Filled with these printouts of things I don't even know what you -- who we -- if they had a computer that point and they would have the -- but there was no way you -- access it now you can go on the Internet to street easy to Trulia all the been to town residential.
You don't know I'm not anybody can get access to -- -- anybody has such street -- -- and I have to bring this is a note actress.
Automated Citi register information system that's your that's New York City you can go on and find out anything it's kind of scary I looked up my mortgage and it was sitting there are for a fall to see so and creeping up SE that's -- the city has all this information you can find out records you can find out.
If if there's taxes on a particular property you all kinds of information that can be helpful but I I wouldn't like my Social Security number.
Being bandied about -- -- on my mortgage Mayor Bloomberg you hear that.
Oh yeah so I wouldn't want anybody to know how much -- out my house for -- it's -- public record.
Now I now not comfortable at that -- -- -- what other changes have you know that is in the real statement.
If there's if it's less labor intensive now it's transactions can take place -- there's much more information how long is it can't actually.
It depends it did in New York City if you buy -- co op then you have to go through the board process and that's.
That's much longer but -- personal mortgage rates are down to 3% now so.
And -- around there for I can happen here if if you -- but but people are buying the story can buy again they have more confidence in the markets is not as much inventory as a result.
-- KB home just put out their earnings report -- sucks down now but they did mention that that you know the inventories are weakening.
Selling prices are out we got existing home sales today pretty good up five point 9%.
So all of these signs are pointing to a recover a housing market -- -- recovery.
I think it is getting it it gets a wrote an article for the Huffington Post.
Few months ago called the real state supertanker is turning its moving slowly but people are -- confidence back and we had a mortgage disaster but we -- were recovering and New York City I don't know which representative for the rest of the country but people are buying things I just sold two properties.
So do you think that's confidence shifts back into the housing market and then we see that trickle down to the furniture stores.
And the appliance stores and all that.
Mortgage rates are expected to stay below the -- -- at least for another two years until -- job.
And that's affected by what the Fed said about the jobless rate right because interest rates will stay near zero.
Until unemployment goes to.
-- All of a sudden Simpson I think six point 7% on the sum up up.
-- does that affect mortgage rates as well.
What I Don and remain in -- Well it's -- that the Fed has has locked in the what's happening right now with mortgages so these rates are gonna be this way for another year guaranteed.
So let the prices are probably gonna go out I think that.
That's I'm trying to get well as there's less inventory yes then prices are gonna get pushed up yes there are bidding wars going on right now in New York City.
But the rates are still out but the richest -- so essentially.
Wouldn't that mean that.
It's I think it's a good thing -- real estate has always been a good investment it's a tangible -- you can live and we can't.
Lie down in bed with your stocks and bonds when it's it's always been for the in the long term a good investment.
Just going to test right now that we have on our web show.
Chris service one says I'm struggling to hold onto a little piece of real estate I have besides the homes on my street had been for sale for years.
Well every every part of the country is going to be different and there's gonna be pockets in areas that that were hit hard by the housing crunch and that's.
Not gonna be representative of everybody but unfortunately yes people are struggling in some.
Some aspects and there's no easy way out there right now I don't have that not -- solution for them.
What is somewhat stronger or regions right now New York City has very strong always.
New Jersey seems to be rebounding well.
In the Hamptons.
I -- most my -- is right here in the tristate area or really in Manhattan.
Democrat and -- find the legitimate companies how do you find legitimate broker what you can call me at -- could you go through friends you go through referrals from.
That the one thing -- it has given -- was you can you can go on and you can look at website but that I would recommend to somebody because.
You could have somebody that sets -- a website and they claim to be somewhere in the can be an igloo and that in Alaska so.
Go to the office look at a person's office with a beautiful -- at 735 avenue in the -- building that's lovely.
I'm glad he's -- and that Christopher Todd says the Internet has also brought in new wave of -- yeah that's real estates cameras are posting false listings.
And often cleverly disguised factual listings and ask for deposits.
What would never do that.
And that's when you -- a legitimate poker yes going to guide you through the process and that is they said there's tons of information out there can be helpful but it can be a hindrance.
Right front top thank you so much they are going -- USA rob top dot com.
VP uptown residential writer radio and television for -- -- Just you can hear me this afternoon on tech company WOR radio will be talking more ready commerce are right thank you -- months.
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