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Archive for October, 2009

Manhattan Real Estate Sets Record Year In 2007

There hasn’t been a year like 2007 for Manhattan real estate in a long time. And there probably won’t be one like it for just as long. It saw a confluence of conflicting trends and market events that were enough to make the most brilliant economists’ heads swoon. While the national housing market had literally its most devastating year since the Great Depression New York homes shot up in value to levels that set new records in all sorts of categories.

A new year end report Corcoran Group Real Estate has given us some of the most reliable data to date on the 2007 market.

Perhaps most importantly the value of NYC apartments and homes in Manhattan rose 8 to an average of 1105. Which as we all understand at face value is incredibly expensive. The average price for an apartment on the island rose to an astounding 1.395 million. That was a 12 increase over 2006 levels.

Different pieces of evidence suggest the market was primarily a seller’s market for most of 2007. Allcash deals for instance were transacted with a much greater regularity than the vast majority of US cities.

One of the most important trends in the NYC real estate market picked up pace in 2007: A larger and larger share of New York apartments are being sold as condominiums. Just about 55 of all completed deals in Manhattan

this year involved condos. Similarly condos experienced an average price increase of 9 compared to 3 for apartments in coop owned buildings.

Much of this disparity in price increases came from the rise of the luxury condo. Many such new condos that came on to the market in 2007 for the

first time are in new buildings designed by some of the world’s leading architects.

More anecdotally speaking there is evidence of important changes taking place in some Manhattan neighborhoods. Districts that once offered little in the way of residential living have seen a good number of new residential buildings spring up. These changes are creating new living areas and neighborhoods somehow magically cramming more living space in already crowded Manhattan. Examples include new living quarters in the Financial District and changes to the face of Hell’s Kitchen. Similarly Alphabet city continued in 2007 to become a safer neighborhood that has become a new cultural hotspot.

All in all 2007 was a great year for New York apartments generally especially

Manhattan apartments. Growth in value started to taper off towards the end of the year and there are signs of some trouble on the horizon but even the most pessimistic predictions call for a drop in value of a considerably smaller scale than the gains that 2007 made. Furthermore as much needed housing developments occur throughout the island Manhattan’s real estate market will only improve its ability to meet the high demand for its housing.

About the writer:  Nicholas Adams Judge is a freelance writer specializing in business politics and economics. He holds a B.A. in political science and will begin his PhD studies in political economy and public opinion next fall. He has studied economics and political science at a number of different institutions both here and in the U.K. including Amherst College Warwick University Oxford University and the University of MassachusettsAmherst.

Why Photographers Need Insurance? Heres The Answer

Is there anyone who can afford to predict a misfortune with any appreciable degree of accuracy? No? So who doesnt need insurance? No matter how you feel about the subject lets face it we all need insurance. And in saying that Im not just echoing the sales pitch of an overzealous insurance agent eager to sell you a policy but am only stating a fact and voicing my belief. Everyone needs to have some sort of an insurance cover. And photographers are no exception. Be it photographers risk insurance or a liability insurance covering the professional from unforeseen circumstances associated with this profession a photographers insurance is a must.

Photography can be an expensive hobby if you choose it that way. And as a profession it surely demands for expert understanding and finesse! Photographers are required to handle very expensive equipment in the course of their work. Even the most innocuous looking filter can cost a neat little fortune let alone all the hitech cameras digital SLRs lens lights meters and other accessories. Handling all these hiend expensive stuffs would have been fine if photographers could keep themselves confined to their studios alone. However nature photographers or sports photographers rarely get to enjoy that luxury. They are frequently required to take their equipment out in the open where there is little security. A simple insurance cover under such circumstances can easily save them from having to worry about all their costly tools of the trade from getting damaged stolen or lost and let them focus on the subject in hand.

However more from the tools it is the skill of the photographer that earns him repute. With increasing popularity the involvement of the photographers especially if the professional is working for free also increases. And the more the involvement becomes the more gets the risk associated with delivering the service on time and as per the expectations of the client. Professional liability insurance for photographers lays the right support here. It covers the photographer professional from clients claim of financial equivalent to the loss suffered due to negligent act error or omission committed while performing a duty.

And then with career life could also be in danger for a photographer. Action photographers or aerial photographers need special photographers insurance to keep them covered against possible mishaps. There are special insurance policies and schemes available for those involved in aerial marine mast glamour or press or motor seasonal or sports photography. Most photographers insurance schemes also cover videographers who are required to shoot in various lifethreatening locations.

To be simply put if you are a professional photographer photographers insurance lets you to enjoy working unhindered.

About the writer:  For further information on professional liability insurance and Photographers Insurance please contact Coulson Pritchard Associates directly on 01480 470220 or visit at www.professionalindemnityinsurance.co.uk

A Good Debt Elimination Program Starts With A Budget

Debt is a financial disease that is affecting a vast majority of middle class Americans today. Many find themselves living pay check to pay check each month and wondering where all the money went while their level of debt keeps getting higher and higher. Those who are successful with money have one thing in common; they control where their money goes and how it is spent and they do this by using a budget that tracks every last dollar they make and spend.

If you are one of those people who find yourself in financial hardship then you need to start a debt elimination program that is built around a personal budget. The reason for this is simple if you know how much income you have and how much your expenses are each month you can make adjustments to your spending habits to bring your spending back into line with how much you make. A budget is the first step to taking responsibility for your financial future and for most people that means eliminating debt.

While creating a budget can be a scary proposition because of what it might show it is a necessary part of any good debt reduction plan. The truth of your spending habits staring back at you from a sheet of paper isn’t fun but it is the quickest and easiest way to get started.

By writing down your income in one column and your expenses in another column your financial picture will soon come into focus. Be sure to leave nothing out because you want a complete picture of what your money is doing. Add up both columns to see if your income is keeping up with your spending. If you are like most people who are suffering the effects of overwhelming debt you will find that your expenses are probably much greater then your income and the biggest bulk of this may well be the monthly payments on lines of credit you may have that can include a mortgage car loan students loans and credit card debt.

Because of this you may want to make a separate spreadsheet that lists all your outstanding debts owed to your various creditors. Make a column for each of the following categories; name of creditor balance owed interest rate and interest being paid each month. Add up the numbers in the balance owed and interest being paid columns and write it down at the bottom. This will show not only how much debt you owe in total but also to each individual creditor.

This will allow you to come up with a game plan to start paying back these debts and work your way out of the financial hardships they have caused. Because money can be an emotional issue one of the best ways to stay motivated is to start with your smallest debt and get it paid off first. This will give you a good feeling and keep you moving on to the next highest debt until it is paid off. Keep working your way up until you knock out that biggest debt.

By starting with a budget outlining all your income and expenses your debt elimination program will soon have you back on your financial feet. You will have much greater financial freedom once the heavy weight of all that debt is no longer on your back.

About the writer:  If you are serious about reducing debt and want more information about a Debt Elimination Program please visit the website Debt Reduction and Consolidation by Clicking Here.