Pelham NY: A Community of Homes

Thursday, February 04, 2010

Commercial Property Price Index Update Shows Increase - First Since Sept 2008

Commercial Property Price Index Update
February 3rd, 2010 :: Posted by Joshua Zader
Moody’s/REAL Commercial Property Price Index (CPPI) reported a 1.0% increase in month over month property prices for the month of November 2009. This is the index’s first month-over-month increase since the financial crisis began in September 2008.

From an annualized perspective, the CPPI is down 33.5% over the last 12 months and 43.1% over the last 24 months, now resting at levels not seen since 2002.

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Tuesday, February 02, 2010

Westchester Real Estate Shake-up | The Real Deal | New York Real Estate News

"The Guild of Independent Real Estate Professionals, a Westchester-based association for real estate industry members, has seen a steady stream of interest from new members since it began 18 months ago, according to member and 20-year real estate veteran in the area Lester Kravitz.

"We're like a parachute for some of these agents who are displaced," Kravitz said.

"Kravitz said he became disillusioned with the franchise culture in the region after putting his office, Kravitz Realtors, under the Better Homes and Gardens name 15 years ago.

"He said that more Westchester brokers have become equally disenchanted during this downturn.

"In this micro-market, it doesn't seem that a franchise is necessary," Kravitz said, referring to Westchester. "In my neck of the woods, every franchise gives up its franchise agreement as soon as the initial contract is up."

Westchester real estate shake-up | The Real Deal | New York Real Estate News

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