For those of us living in and around New York City, whether Long Island, Westchester, New Jersey, Connecticut or one of the five boroughs, it can be hard to imagine what area is the ‘wealthiest’! The term wealthy can have many different meanings but, for our purposes in this article, let’s use average annual household […]
In 2016 the U.S. Department of the Treasury Financial Crimes Enforcement Network (FinCEN) implemented its Geographic Targeting Orders, or GTO (January 2016 announcement here)! What was the purpose of this 2016 reporting rule that required title insurance companies in specific high-end residential real estate markets around the United States, to drill down and find who the […]
While the adjustment in luxury real estate prices can of course be up or down, this time around they are down having a negative impact on sellers! Buyers are now in the drivers seat dictating more of the terms of real estate transactions! Prices are not down in every U.S. city, but they are in New York City where […]
