NextStage Advisors

06/26/2023

Federal Reserve Boosts Commercial Real Estate With Pause in Rate Hikes
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The Federal Reserve opted for a pause in its hawkish inflation-fighting strategy on June 14, providing relief to the commercial real estate industry which had been hammered by large-scale interest hikes since March 2022. The Fed announced that its benchmark interest rate would remain unchanged at be...

06/25/2023

How to avoid home foreclosure in New York
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Foreclosure filings across the nation dropped by about 10% in April, compared to the same month last year. However, New York State is seeing more filings due to the end of the COVID-19 moratorium in January 2022, and slow return of courts and law firms. Kirsten Keefe, a senior attorney with the Empi...

06/24/2023

New York Residential Closed Median Sale Price Increases by 4.00% between March and April
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OneKey® MLS reported a 4.00 % increase in closed median sale price between March 2023 and April 2023. The regional closed median sale price of $ 575,000 was reported in April 2023, while closed regional sales transactions, including residential, condo, and co-op sales, decreased to 3,160 from 3,612...

06/23/2023

Affordable housing remains out of reach for low-income New Jerseyans, report says
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According to the National Low Income Housing Coalition's annual "Out of Reach" report, a New Jersey resident making the minimum wage would have to work 95 hours a week to afford a modest two-bedroom rental home. The report says the fair market rent for a two-bedroom apartment in New Jersey is now $1...

06/22/2023

Selling Your Home This Spring?

06/21/2023

Remote work will destroy 44% of NYC office values
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The researchers from New York University and Columbia University have updated their study on the impact of remote work on New York City's office stock. They now estimate that the office stock will lose 44% of its pre-pandemic value by 2029, up from the 28% estimated when the authors first published....

06/20/2023

Ask Me Anything!
Have questions about real estate but not sure where to start?

Have questions about real estate but not sure where to start?

06/19/2023

NYC in Late-Spring: The Rental Report

06/18/2023

NYC Council passes legislation expanding rental assistance
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The NYC Council has passed legislation that will expand rental assistance and help house more New Yorkers. This includes ending the 90-day shelter rule as a qualification for a rental assistance voucher and expanding the number of people eligible for the vouchers. The bills will also lower the amoun...

06/18/2023

Happy Father’s Day

06/17/2023

Newfane establishes law on short-term rentals
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The Newfane Town Board has approved a new local law to regulate short-term rentals, which will require owners to pay $250 for a permit and be subject to a house inspection. The law also addresses zoning issues, as many of the roughly 40 short-term rental establishments were previously illegal due to...