Real Estate Weekly
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ROUND THE BLOCK: Empire State Properties; ZipRealty

●empire state properties
Luxury Listings launch

Suzanne Miller, president of Empire State Properties, a provider of luxury corporate housing relocation services, announced that the firm has launched Luxury Listings from Suzanne Miller, Inc., a brokerage and full-service management division specializing in the sale and management of multi-million dollar properties.
“As Empire State Properties’ stellar reputation has grown, we have had an increasing number of short-term housing clients turn to us for guidance in purchasing Manhattan real estate,” said Miller. “Combined with a keen interest on behalf of the brokerage community to work at Empire State Properties, it was the ideal time to launch Luxury Listings.”


Empire State Properties increased its office space by 80 percent so that the rental, management and Luxury Listings teams could work side-by-side.
Miller noted that “Luxury Listings is growing quickly, as more international executives looking to buy Manhattan properties recognize that our operations and management services simplify and streamline the process of owning and maintaining residences here.”
In addition to showing and selling multi-million dollar properties, Luxury Listings also provides purchasers with full-service management.

●ziprealty, inc
Cash sales on the slide?

ZipRealty, Inc., an online brokerage, analyzed all ZipRealty transactions from January 2012 through December 2013 and concluded that one of every four real estate transactions closed without financing.
ZipRealty CEO and president Lanny Baker, said, “Based on our own internal analysis and data from the National Association of Realtors, the percentage of all-cash real estate transactions may actually be moderating.
“Nationwide, the percentage of all-cash real estate transactions reached a five-year high in 2010 at 27%, and the percentage of all-cash property sales has slowly declined or flattened every subsequent year.”
All-cash transactions accounted for 20% of the residential real estate market in 2009, and 25.6% of the market in 2011, NAR reports. According to ZipRealty, 26% of all the 2012 transactions closed by their agents were purchased with cash, while 25% of the homes purchased through ZipRealty agents in 2013 were acquired with cash.

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