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Tag: Douglas Elliman

  • President Trump Just Made a Big Move That Could Benefit 1 of My Top Stock Picks for 2026

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    • U.S. existing home sales are near a five-year low right now, as elevated interest rates keep buyers sidelined.

    • President Trump just announced a plan that could bring down mortgage rates and reignite the real estate market.

    • Douglas Elliman is one of America’s largest real estate brokerage companies, and its stock could soar in 2026 if the president’s plan works.

    • 10 stocks we like better than Douglas Elliman ›

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    In August 2023, the U.S. Federal Reserve concluded an aggressive campaign to hike interest rates, which sent the cost of a mortgage skyrocketing to the highest level in two decades. The goal was to tame a soaring inflation rate, and thankfully, it worked, so the Fed has now cut interest rates six times since September 2024.

    That isn’t fast enough for President Donald Trump, though, who regularly calls for the Fed to cut rates more quickly to bring relief to homeowners. However, he might have found a workaround, as last Thursday, he instructed his representatives to purchase $200 billion worth of mortgage-backed securities (MBSes). These bonds hold thousands of mortgages and are sold to investors.

    As is the case with all bonds, a sudden flurry of buying activity will increase the price of each MBS, while decreasing its yield. A lower yield, in theory, will translate to lower interest rates on mortgages, thus helping Trump achieve his goal without help from the Fed.

    Federal Housing Finance Director Bill Pulte said government-controlled enterprises Fannie Mae (Federal National Mortgage Association) and Freddie Mac (Federal Home Loan Mortgage Corporation) will carry out the $200 billion in MBS purchases in the public market.

    Image source: Getty Images.

    Existing home sales in the U.S. are currently hovering near a five-year low, and according to Redfin, there were 529,770 more sellers than buyers in November. Elevated interest rates have reduced the borrowing capacity of first-time home buyers, shutting many of them out of the market.

    Additionally, many existing homeowners are locked into 30-year mortgages at significantly lower interest rates than what is currently available, so even if they wanted to upgrade or downsize, moving isn’t a financially sound decision at this time. That takes even more would-be buyers out of the market. It’s very hard for real estate brokers to deliver sales in this environment, especially at favorable prices.

    US Existing Home Sales Chart
    US Existing Home Sales data by YCharts

    Douglas Elliman (NYSE: DOUG) is America’s fifth-largest real estate brokerage company, but it’s one of the leaders in luxury markets in California, Florida, New York, Texas, and more. It was founded in 1911, so it has over a century of experience navigating the peaks and troughs of the housing market.

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  • Higher-priced properties dominate Q3 Hamptons home sales | Long Island Business News

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    THE BLUEPRINT:

    • Hamptons home sales above $5 million were the second highest on record in Q3.

    • Median Hamptons home price rose 29% year-over-year to $2.1 million.

    • Top 10% of sales saw prices surge to a $10 million median, up 17%.

    • North Fork listings dropped 45.6%, signaling tightening inventory.

     

    The number of Hamptons home sales above $5 million was the second highest on record in the third quarter. 

    That’s according to the latest report from Real Estate and Real Estate Appraisers and Consultants, which also showed that the median and average Hamptons home sale prices in the third quarter were the second highest ever. 

    The median price of closed single-family home sales in the Hamptons in Q3 was $2.1 million, more than 29% higher than the $1.625 million median price recorded in Q3 2024. The average price of closed Hamptons single-family home sales was $3.6 million in the third quarter, up 33.5% from the $2.7 million average price of a year ago. 

    For the top 10% of sales, the median price of closed Hamptons home sales reached $10 million, 17% more than the $8.55 million median price of a year ago. The average price for the top 10% of Hamptons home sales was $14.437 million in Q3, an increase of 51% from the Q3 2024 average of $9.562 million. 

    The overall number of Hamptons home sales also increased from last year, with 421 sales in the third quarter, 7% more than the 393 home sales that closed in Q3 2024. 

    Listing inventory in the Hamptons fell slightly, dropping from 1,267 in Q3 2024 to 1,256 in the third quarter this year, the first year-over-year decline for the first time in three years. 

    On the North Fork, the number of home sales between $1 million and $2 million in the third quarter was the second highest on record. The median price of closed single-family home sales on the North Fork was $1.05 million, a decrease of 4.5% from the median price of $1.1 million recorded in Q3 2024. 

    Prices in the top 10% of the North Fork market in the third quarter also dropped from a year ago. The median price of closed sales on the high end was $3 million in Q3, down 25.5% from the $4.025 median price in Q3 2024. 

    Sales on the North Fork fell slightly in the third quarter. There were 125 closed North Fork home sales, a tick lower than the 127 home sales in Q3 2024. 

    North Fork inventory dropped significantly in the third quarter. There were 142 North Fork listings in the third quarter, down 45.6% from the 261 listings in Q3 2024. 


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    David Winzelberg

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  • Top-producing team member exits Elliman for Serhant

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    A former partner of a top-producing team at Douglas Elliman is leaving the firm to join Serhant. 

    Glenn Davis, who merged his team with Noble Black last year, is launching a new team with Ryan Serhant’s eponymous brokerage. He’s bringing seven agents with him to form the cohort, known as the New York Collaborative Team.

    “I’ve contemplated working with Ryan for years. We came up in the industry together,” said Davis. “Ryan’s platform is just compelling to me because there is opportunity, and there is growth. That’s something that at this point in my career, I want to be on the ground level of.”

    Davis added that he has “nothing bad to say about Elliman” and commended its leadership and CEO Michael Liebowitz on their work since taking over last year. 

    “I just needed a change,” Davis said. “Real estate is evolving. Either we’re part of it, or we’re not.”

    News of Davis’ move comes roughly a month after his former partner, Black, exited Elliman with 10 agents from their then-36-person team and returned to the Corcoran Group, where Black spent the first decade of his career. 

    Davis and Black’s combined teams, known as Noble Black & Partners, placed fourth in The Real Deal’s latest rankings of the top resale agents and teams in New York City with $162 million in sales. The cohort also landed among the city’s leading new development brokers, coming in at No. 13 with $92 million in sales. 

    “I’ve known [Glenn] for years and have always admired his relentless work ethic, integrity, and ability to lead at scale,” Serhant said in a statement. 

    Before joining forces with Black, Davis co-led another top team at Elliman with Justin Tuinstra, who went solo after the two ended their decade-long partnership. Davis said at the time that he and Tuinstra split months before he merged his then-10-person cohort with Black’s team.

    Davis also previously worked on new developments with Elliman’s leading team, the Eklund-Gomes Team. 

    “We wish Glenn all the best in his new endeavor,” a spokesperson for Elliman said in a statement. 

    Davis is leaving Elliman on the heels of a number of high-profile departures, including the firm’s longtime advisor Neal Sroka, who left last month to focus full time on his consulting business after two decades with the brokerage. Another 20-year veteran, Kathy Murray, exited Elliman earlier this summer to join Corcoran. 

    Serhant is in the midst of an expansion that began on the East Coast in April 2023 and has broadened to include adding an outpost in Arizona in March. The five-year-old firm now has 1,300 agents across 13 states, including its latest opening in Newport, Rhode Island earlier this month. 

    Read more

    Top Douglas Elliman teams pair up


    Top Elliman team Noble Black & Partners exits for Corcoran


    Ryan Serhant Expands Out West

    Ryan Serhant expands west


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    Sheridan Wall

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  • Center Moriches industrial property sells for $4.425M | Long Island Business News

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    Fully leased Center Court Industrial Park in Center Moriches sold for $4.425M.

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    David Winzelberg

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  • Family’s NYC Real Estate Legacy Endures, 111 Years After Disaster

    Family’s NYC Real Estate Legacy Endures, 111 Years After Disaster

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    On this date in 1912, one of the richest men in the world dined sumptuously aboard the White Star line’s newest and proudest ocean-going vessel on its maiden voyage across the Atlantic. Later that evening, he would guide his young wife Madeline to lifeboat No. 4 and be told he could not join her until all women were safely aboard. He would later be glimpsed on the ship’s starboard bridge wing, speaking with another passenger.

    This was the last anyone saw of John Jacob Astor IV until his remains were plucked from the icy Atlantic waters a full week later, one of just 333 bodies recovered of the more than 1,500 lives lost in the April 15, 1912 sinking of the Titanic.

    This 111th anniversary of the catastrophe is as apropos a moment as any to reflect on the rich New York City real estate legacy of the Astor family, a legacy that remains a civic treasure to this day. The Astor name lives on in a number of honored New York City settings, not least of which are Astor Place, the crossroad between the East and West Village, and Astoria, Queens, a bastion of international culture and public green space nestled between Long Island City and Sunnyside across the East River.

    The Astor

    Also bearing the Astor name are myriad New York City buildings that harken to the city’s gilded age. Near the top of that list is no less a plum than the Waldorf Astoria Hotel, built by William Waldorf Astor, great grandson of John Jacob Astor I.

    Another is The Apthorp, built by William between 1905 and 1908 to occupy an entire city block bordered by Broadway, 79th Street, West End Avenue and 78th Street.

    The building was operated by the Astor family for decades until its 1950 sale. It now is a New York City-designated landmark listed on the National Register of Historic Places.

    Yet another notable example is The Astor. Situated on Manhattan’s Upper West Side at 235 West 75th Street, The Astor was commissioned by William in 1901.

    Designed by busy New York City architects Clinton and Russell, the original structure featured two southern towers. A third tower, designed in 1914 by Peabody, Wilson & Brown, completed within a year and similar in appearance to the original towers, was designed to be four stories taller to allow for spacious penthouses. These were targeted at well-heeled New Yorkers then descending on the Upper West Side, who were predicted to flock to the building for its location on Broadway between 75th and 76th, and its proximity to the city’s original subway line and Central Park.

    New listings

    The Astor introduced new listings this past autumn, the first new inventory in the iconic building in two years. Restored and upgraded for today’s most discerning purchasers, the residences feature the kind of luxuries first-class passengers aboard the Titanic would have savored, had they entered a time tunnel directly to 2023.

    Included are formal entry foyers, herringbone-patterned wood floors, wood-burning fireplaces, up-to-date kitchens featuring top-of-the-line appliance packages and bathrooms offering soaking tubs and radiant heated floors.

    “It’s rare to find a home in Manhattan that features both historic architecture and contemporary interiors with modern upgrades, especially one that caters to today’s active lifestyles.” says Douglas Elliman’s Kyle Egan, who along with Randall Dolland and Michael Kafka is overseeing building sales.

    “The Astor provides this ideal combination in one of the city’s most sought-after neighborhoods. Discerning buyers in today’s market are looking for a unique product that can’t be found elsewhere. The Astor speaks to those looking for a beautiful, inviting, spacious home, and a special piece of New York history.”

    It appears exactly 111 years after the Titanic’s sinking, the cache of the real estate associated with its most famous passenger continues ascending.

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    Jeffrey Steele, Contributor

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