Broker confidence rebounds after challenging year: REBNY

first_img“There are too many moving variables at the moment — Covid, economic recovery, stimulus, NYC elections — to have any confidence in the market performance,” one commercial broker told REBNY. The slow vaccine rollout in New York, eviction moratoriums and the sluggish retail market were problems cited by other brokers.Residential brokers, in comparison, are feeling better about the state of the sector. The confidence index for residential agents is at 5.81, which is only a 20 percent decline from the same period in 2019. And residential brokers are feeling more confident about the market six months from now; that index is at 6.45, a 50 percent jump from the previous quarter.“There has been a spike in activity over the past few weeks, where the reasonably well-priced properties that have been sitting are now seeing significant activity and even getting multiple offers,” one residential broker told REBNY. “There seems to be a sense that the worst is over, and that things will begin to improve in the market over the coming months.”Contact Amy Plitt (iStock)After hitting all-time lows in the middle of 2020, broker confidence is rebounding, according to the Real Estate Board of New York’s latest quarterly survey of industry professionals.Overall, REBNY’s broker confidence index was at 4.35 out of 10 in the fourth quarter of 2020, a 41 percent increase from the low point of 3.08 in the previous quarter. While that’s a notable improvement, it’s still a sharp decrease from the same period in 2019, when the index was at 6.87.“Broker confidence rebounding at the end of 2020 illustrates that the industry has an increasingly positive view that we can overcome the immediate challenges we face, including vaccinating all New Yorkers, getting New Yorkers back to work and boosting our economy,” REBNY president James Whelan said in a statement. He cited the need for more rapid testing and a speedier vaccination roll-out as crucial to getting the market back to normal.ADVERTISEMENTWhile brokers are generally feeling more optimistic, there are differences in the commercial and residential sectors. Overall commercial broker confidence remains quite low, at 2.89 out of 10, a 60 percent drop from the same time last year.And while brokers’ confidence in the market six months from now has improved slightly — the index is at 3.68, compared to 2.72 in the previous quarter — there are still issues that keep them from feeling too optimistic.Read moreBroker confidence hits all-time low: REBNY“A garbage year”: The state of Manhattan’s luxury resi market in 2020Booster shot: NYC real estate sees salvation in vaccine Email Address* Full Name*center_img Message* This content is for subscribers only.Subscribe Nowlast_img read more

Basketball Stars Gift Hundreds of Local Kids with Tickets to NBA Game

first_imgAddThis Sharing ButtonsShare to FacebookFacebookFacebookShare to TwitterTwitterTwitterShare to EmailEmailEmailShare to RedditRedditRedditShare to MoreAddThisMoreHundreds of California youngsters got the chance to experience a live NBA basketball game for the first time after the athletes themselves reached out to community groups with stacks of free tickets.Golden State Warriors players Andris Bierdrins, Andrew Bogut, Draymond Green, Jarrett Jack, Richard Jefferson, David Lee, and Klay Thompson bought 50-to-100 tickets each, and donated them to local groups in San Francisco. (READ the full story in the SF Examiner – by @DrewMorita)AddThis Sharing ButtonsShare to FacebookFacebookFacebookShare to TwitterTwitterTwitterShare to EmailEmailEmailShare to RedditRedditRedditShare to MoreAddThisMorelast_img read more

US Navy Announces Names of Two Destroyers

first_imgSecretary of the U.S. Navy Ray Mabus announced yesterday, May 23, that the next Arleigh Burke-class destroyers (DDG) will be named USS Paul Ignatius and USS Daniel Inouye.“As secretary of the Navy it is my privilege to name these ships to honor a respected naval leader and a true American hero,” Mabus said. “For decades to come, the future USS Paul Ignatius and USS Daniel Inouye will represent the United States and enable the building of partnerships and projection of power around the world.”The future USS Paul Ignatius (DDG 117) honors Paul Ignatius who served as secretary of the Navy 1967–1969 and as assistant secretary of defense under President Lyndon Johnson. The future USS Daniel Inouye (DDG 118) is named to honor former Sen. Daniel Inouye, D-Hawaii. Inouye was awarded the Medal of Honor for his actions in Tuscany, Italy, during World War II and later became a U.S. senator. USS Paul Ignatius and USS Daniel Inouye will be the first naval ships to bear these names.Arleigh Burke-class destroyers conduct a variety of operations from peacetime presence and crisis management to sea control and power projection. They are capable of fighting air, surface and subsurface battles simultaneously and contain a myriad of offensive and defensive weapons designed to support maritime warfare.DDG 117 and DDG 118 are part of the DDG 51 multiyear procurement with the contract award to the building yard pending. The ships will be 509 feet long, have a beam length of 59 feet and be capable of operating at speeds in excess of 30 knots.[mappress]Press release, May 24, 2013;last_img read more

Ravens expected to be without two key contributors for start of offseason program

first_imgThe Ravens will officially open their Owings Mills facility for the start of their offseason workout program on Monday, but they shouldn’t expect to see two key starters waiting at the door.Running back Ray Rice and starting cornerback Cary Williams are not expected to attend the voluntary workouts that will begin on Monday. Many veterans are typically absent at the start of the workouts, but the absences of both Rice and Williams stem from the status of their respective contracts.After receiving the franchise tag in early March, Rice and agent Todd France have gotten nowhere with the Ravens in long-term contract negotiations and is not expected to attend organized team activities without a new contract. The two-time Pro Bowl back is currently scheduled to play with the $7.7 million franchise tender should the sides fail to reach an agreement on a new contract by July 15, and it’s possible he would decide to hold out during training camp without a new deal in place.Meanwhile, Williams was given a second-round tender as a restricted free agent, which would pay him a $1.92 million salary for the 2012 season. Williams’ agent Marc Lillibridge also represents Ravens cornerback Lardarius Webb, who signed a six-year, $50 million contract last week, so it’s interesting to speculate how that might have impacted the sides’ negotiations regarding a new deal for Williams.Attempts to reach Lillibridge for comment were unsuccessful.Williams is not expected to sign his restricted tender for a few more weeks, according to the NFL Network’s Jason La Canfora. However, the 6-foot-1 corner would probably not benefit from holding out considering the Ravens drafted Jimmy Smith in the first round of last year’s draft. Restricted free agents have until June 15 to sign the offered tender or the team may reduce the tendered amount to 110 percent of last year’s salary while still retaining the rights to the player.Neither Rice nor Williams is required to report for voluntary workouts and are currently not under contract.The Ravens have not yet announced the dates for their mandatory minicamp.In other news, La Canfora reported the Ravens have made a “conservative” one-year offer to center-guard Jason Brown, who played in Baltimore from 2005 to 2008. Most recently with the St. Louis Rams, Brown was released earlier this offseason and was benched at one point last season due to ineffective play.The Ravens are an estimated $1.9 million under the salary cap, meaning any offer to Brown or another veteran interior lineman would likely barely exceed the league minimum for veterans.last_img read more

Wimbledon Open Day One (Men’s Singles Recap): Federer Progresses As Wawrinka Dumps Out Sixth…

first_imgWorld number two Roger Federer is through to the second round at the ongoing Wimbledon Open after he made light work of Serbian Dusan Lajovic.The defending champion defeated Lajovic 6-1 6-3 6-4 in their first round in 79 minutes as he began his bid for a record-extending ninth men’s title in grand style.After his win, Federer told BBC Sport that: “I felt good from the start, which was not the case when I played him last year.”“I felt at home.” The Swiss tennis legend added.Federer’s compatriot and three-time Grand Slam champion Stanislas Wawrinka also won his first round match.Wawrinka, who has dropped to 224 in the men’s ranking because of injury, defeated Dimitrov 1-6 7-6 (7-3) 7-6 (7-5) 6-4 in four sets to move into the next round.Third seed and 2017 finalist Marin Cilic saw off Yoshito Nishioka of Japan 6-1 6-4 6-4 to book his place in the second round.Newly married American Sam Querrey was also one of the winners on Day 1 after he won Jordan Thompson in straight sets.Querrey, 30, who got married to Abby Dixon in June defeated Thompson 6-2 6-4 6-3.He thereafter revealed that he had postponed his honeymoon plans so as to step up his grass-court preparations for Wimbledon.In his words, Querrey said: “We went home for three days and flew over for Queen’s, if you count that as a honeymoon!”“I don’t think Abby does. Maybe at the end of the year, we will do a honeymoon somewhere close to where we live.” He concluded.Relatedlast_img read more

Hurlbut takes Sport Compact top prize at CJ Speedway

first_imgCOLUMBUS JUNCTION, Iowa (June 3) ­– Richard Hurlbut was the $250 Mach-1 Sport Compact feature winner on CJ Speedway’s Economart $5 Fan Appreciation Night at the races.Josh Mosier and Hurlbut drew front row spots for the evening’s 14-lap finale. Hurlbut grabbed the over Mosier and Cody VanDusen, who started sixth. While Hurlbut set the pace out front, Mosier and VanDusen swapped the runner-up spot back and forth over the entire 14 laps.As Hurlbut held on to capture his first win of the season at the track, VanDusen took the second spot for good. Mosier was third.Travis Finke and Blaine Dopler led the field to the drop of the green flag in the 16-lap Kauffman Electric IMCA Stock Car feature, with Dopler out front over Finke and Billy Faler. While Dopler set the pace out front, Kirk Kinsley, who started ninth, and Adam Bell, who started seventh, were slowly working their way toward the front.Kinsley worked himself into the runner-up spot on lap six and then went to work on Dopler for the top spot. Coming out of turn four to complete lap eight, Kinsley got under Dopler for the lead.Bell used a late race caution to clear Dopler for the runner-up spot but wasn’t able to get under Kinsley for the lead, as Kinsley held on for his second win of the season at the track.last_img read more