Finding the Perfect Property Without Going Bonkers

Is that property really right for you? When it comes to buying your dream home, you want everything to be just perfect—only you’re bound by a few limitations that affect your decision. These limitations actually make your decision easier. Understanding them is the best way to pick the perfect property for you. Affordability Everyone has a budget they are bound by. The first thing you should determine is the monthly household debt (mortgage plus maintenance) you'll be able to afford. A considerable amount of your monthly income will be spent on paying your mortgage and since you’ll likely have additional miscellaneous expenses, no more than 30-40% of your income should go towards paying your household debt. Once you have assessed your affordability, you’ll have a range of properties you may afford. This will help us narrow down the search tremendously, allowing you to make a more efficient decision. Non-Negotiables Each property has its pros and cons. What are those pros and cons? Well, that depends on you. Some of you might prefer a traditional home, while others may prefer something more modern. Your preferences set your limits, so before going on the hunt with your FARE agent, determine some of those “non-negotiables” for your perfect property while being realistic with what your means can afford. For instance, do you need the decked out, marble bathroom with a jacuzzi or does having two modest bathrooms for your family of 5 make more sense? So now you’ve found the perfect property given your price range and non-negotiables and you’re ready to sign contracts, right? Wrong. There is one other factor you need to consider: Location. Location You can find your “dream home” but if its location doesn’t suit you, you may not be making the right investment. Analyze the advantages and disadvantages of your desired location. Accessibility to work, school, daily routines, etc. is one of the most important factors that may restrict you. If your dream home is located in a remote area, far from your daily routines, needs and activities then it may not be the perfect property for you at all. Finding your “dream home” can be challenging, but finding the perfect property for you will be easier if you’re not afraid to be realistic and compromise a bit. Remember, that the perfect property should not only look good, but should provide a sense of comfort, security and efficiency as well. Please visit our Buyer's Resources to calculate your Affordability and Contact a FARE Agent to get started Today!  

Strategic Group to Acquire Jumeirah Essex House

Jumeirah Essex House (copyright Jumeirah)

Guess who wants ownership of the Jumeirah Essex House in Manhattan? None other than the Chicago-based REIT, Strategic Hotels and Resorts Group.
Since Essex House’s opening in 1931 it has been a huge success and has won numerous awards including the “Five Pavilions Award” in 2008 and the "United States' Leading Business Hotel" in 2011. The 45-story hotel’s prime location – the edge of Central Park South – coupled with its high quality service sets this luxury hotel up for success. It is this standard of excellence that has set the overall tone for luxury hotels in Manhattan for decades.
The Jumeirah is currently owned by the Dubai Investment Group LLC which acquired the hotel in 2005 for $440 million. When this group of investors decided to put this five star hotel up for sale, it was only natural that it caught the attention of the Strategic Group.
The REIT, whose portfolio consists of 17 world famous, luxury hotels and resorts including the Marriott, Ritz-Carlton, Hilton and Hyatt, are known for providing a high quality of service. The Strategic Group aims to provide its customers with excellent service, ambiance and amenities in desireable locations - the perfect luxury package. The opportunity to acquire this midtown Manhattan hotel is just the type of investment this REIT seeks.
How much will this purchase cost the Strategic Group? The acquisition is expected to cost $362.3 million, with another $18.3 million to be spent on renovating the historic building.
In addition to the hotel’s cosmetic changes, the name will be changed from “Jumeirah Essex House” to “JW Marriott Essex House New York.” According to Laurence Geller, the Strategic Group’s President and CEO, the combination of Jumeirah’s location, “Marriott’s outstanding distribution and world-class customer service,” and its “successful long-standing relationship with the Marriott brands," positions the Essex House for success.
The sale of this 80 year old luxury hotel is expected to close on September 7th.

Treat For Yourself To A Little NYC-Style Fun!

There are lots of fun events to enjoy in Manhattan - from fashion to those that excite your taste buds, there’s a little something for everyone.  So, let’s get down to a few: Ladies, you are in for a real treat! Shulogique, a high tech high heel fashion retail store, has opened their doors at Pearl Studios located at 500 Eighth Avenue, and their aim is to make you look sexy! They use advanced technology to select and customize the most comfortable and sexy high heel especially made for you. The technology is free and there is no obligation, so get the first look at their collection now to get your very own pair of these comfortable, yet stylish shoes. For more information on this amazing technology visit, and, for events. For the music lover, NYC Recording Studios is opening their gates to you on August 22nd so you can explore the magic-making studio for yourself. Listen to fascinating, never before released music from your favorite artists and get a sneak peak of those currently recording their new hit tracks. The tour of their 12-story facility is geared towards music lovers eager to see where and how the magic happens. For tickets visit, Similarly, for the action-movie lover, The Specialists Ltd in SoHo will be opening their secret warehouse to the public on August 22nd. The warehouse contains everything from Angelina Jolie's SIG 552 from the movie “Salt” to a full range of props from various “Law & Order” episodes. The warehouse, generally closed to the public, will showcase various props from all of your favorite movies and TV shows. So, head down to The Specialists Ltd warehouse to see exactly how all of those props are used. For tickets visit, Want to learn photography the right way? Judith Farber, an esteemed photographer, comes to Chinatown to teach you the art of photography. This walking tour to capture Chinatown’s beauty will not only give you the opportunity to take photographs, but also get them critiqued by a professional that will give you tips and tricks to capture the perfect photo!  The event takes place on the August 22nd so take out your camera equipment and head downtown!  To sign up visit, Oh, and we haven’t forgotten about the kids. Feelday and Alison Walla from Butter + Love are organizing a special “Cookie and Mustache” Party where kids will enjoy hours of sugary fun. Parents aren’t left out either. They’ll have an opportunity to indulge in Zucker Bakery’s great coffee and pastries while Feelday and Alison help your kids create and decorate their own mustache cookie. Every mustache gets its own photoshoot and parents leave with a gift bag filled with yummy goodies from Zucker! Tickets are available at Zucker Bakery on the Upper East Side.  For more information visit, That’s not all, Watson’s Adventure will be hosting a chocolate rich scavenger hunt designed to satisfy your sweet tooth on September 8th in Soho. Explore the neighbourhood’s bakeries and chocolate shops while answering a few tricky questions that will get you to your next destination. Indulge yourself in tropical fruit caramels, bacon candy bars, lavender macaroons, spiced hot chocolate and cupcakes—Yum! So, remember to register for Watson’s Adventure and reward your taste buds with these delectable treats! To register visit, Sign up for these events as soon as possible before time runs out, and have yourself a blast! Don’t forget to tell us all about it!

Singer, John Legend Buys $2.5M Pad

Singer-songwriter John Legend is known for his popular “Ordinary people” song. This talent recently moved to an anything but average 1 bedroom apartment at the Brewster Carriage House for a cool $2.5 Million.

30-Year Fixed Rate Rises…

30-year fixed rate mortgages rose last week, ending a steady decline in rates.  These rates moved up to 3.76% from 3.75%.  Is this a warning shot for future increases…