| Expect a much busier Q4 and slow Q1 for residential as owners unload assets now to pay fewer taxes, Douglas Elliman Real Estate CEO Dottie Herman tells us. It’s still early to tell what will happen in 2013 from increases in capital gains and taxes, but she expects that prices will continue to rise: “Residential continues to be a great investment vehicle and is still the best performing—NY is already back to its pre-Lehman peak.” Financing is still an issue, particularly for younger buyers having difficulty getting mortgages. |
| Creative Concepts |
| Dottie will be receiving REBNY’s Kenneth R. Gerrety Humanitarian Award at its 117th annual banquet on Jan. 17 (register here), which recognizes a REBNY member’s meritorious service to the community. Douglas Elliman was certainly at the helm post-Sandy: its offices with electricity remained open for community relief, collected donations, and provided local residents with power and warmth. It partnered with East End Helicopter (above with donations at Long Island MacArthur Airport), trucks, and volunteers to deliver aide to Breezy Point, the Rockaways, Long Beach, and Staten Island. And Dottie used both the firm’s social media presence and her WOR radio show “Eye on Real Estate” to round up volunteers and donations, as well as provide news and info. |
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