đ Our first rate hike in 3 years. Now what?
Andrewâs Articles
A few fun things that caught my attention this week:
đŠȘ Last weekend I had my best meal of the year. Michael and I were in Savannah (touring his old college stomping grounds) and ate here. HIGHLY recommend if youâre in the areaâand even if youâre not, itâs worthy of the trip. Iâll be dreaming of those oysters with a beet mignonette for long, long time.
đ° My jaw dropped when I saw this $70M park-front duplex for sale at the NYC Ritz.
đ„ I not-so-subtly told Michael I needed to see this exhibit. Style + nostalgiaâŠwhatâs not to love? Weâre going tomorrow.
đ As a self-proclaimed car nerd, this idea is genius. Slide #9 is my perfect pairing. The old-school PorscheâŠa guy can dream!
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Hot Homes: The Power of Transformation
I love a good home transformation. Thereâs something so satisfying about taking the same four walls and making them look completely different.
My recent listing in Springfield Gardens understood the assignment. Having been in the family for years, there were small but powerful updates that I knew would help the home shine in the eyes of future buyers. Take a look at these before-and-after photos to see for yourself:
We removed carpet and wallpaper, painted, updated recessed lighting, and redid the floors. It cost $30,000, but the results speak for themselves: I listed the home in late August. This was strategic: instead of waiting until after Labor Day, I saw there were very few homes in this price range and neighborhood and knew buyers were motivated.
In our first open house, we had 7 people come by and received 4 offers. One more offer came a few days later. Within the week, after back-and-forth negotiations with the bidders, we had accepted an offer for $50,000 over the asking price!
I donât recommend renovations, staging, or updates for all my listings. But I know when it makes a difference, and 145-48th 158th St was the perfect example.
If youâre curious about what updates your home needs before you sell, reply, and Iâll prepare a strategic selling plan for you.
Ask the (Rate) Expert
âHot off the press, on Wednesday, the Fed raised rates for the first time since 2023. As a result, the cost of borrowing is higher. Hereâs what I think:
First, a Fed rate hike doesnât automatically mean your mortgage rate just went up by the same amount. Mortgage rates are influenced by a much bigger mix of factors, including the bond market, inflation, and where investors think the economy is headed.
More importantly, I wouldnât make a real estate decision based on trying to perfectly time interest rates. If you find the right home and the monthly payment works for you today, it may still make sense to move forward. If rates eventually come down, refinancing could be an option. If they keep climbing, youâll be glad you didnât wait.
My advice? Shop based on your life stage and the payment you can comfortably afford now, not the rate youâre hoping might exist months or years from now. If you have further questions, ask away!â
Listing Iâm Lovinâ đ
Another newsletter, another three epic listings. Each one of these has something that makes it truly unique. Keep reading to find out!
3 bed, 3 bath | $7,500,000 | East Village | Corrin Thomas, Serhant
This one is being called the âCottage in the Sky,â and honestly, what more fitting can you get? Nearly 1,000 SF of private terraces wrap around this cozy East Village penthouse, complete with a landscaped rooftop garden, four wood-burning fireplaces, exposed red brick, and an actual clapboard cottage on the roof. Itâs romantic, quirky, and completely one-of-a-kind. Iâm in love đ„°
3 bed, 1 bath | $1,400,000 | Park Slope | Betty Jane McCann
Three bedrooms in a classic Park Slope brownstone for $1.4M? You have my attention. đ Add oversized windows, hardwood floors, a decorative fireplace, and your own private roof deck with skyline views, and this checks a LOT of boxes.
4 Bed, 3 bath | $2,295,000 | Park Slope | Christian Powers
Four bedrooms, three bathrooms, and 1,900+ SF all on ONE floor in Park Slope?! Now weâre talking. This home is actually three apartments combined into one, which means you get some serious breathing room, plus three exposures, a private balcony, and an enormous primary suite overlooking the gardens. For the family that needs more space but isnât ready to give up on Park Slope, this apt delivers.
To all my Buyers, Sellers, or Renters looking to make moves, letâs make it happen!
Iâll be back in two weeks.
