Widely known across the entertainment industry as one of America’s top urban supermodels and celebs, Ford has already completed Blu Realty’s intensive training program. Ford will be working directly with veterans Alon Chadad (her mentor at Blu Realty) and Moshe Balalo, who are both founders at Blu Realty Group.

The pair are two of the Top 50 Real Estate Brokers according to The Real Deal, Chadad and Balalo closed over $100,000,000 in property deals in 2012. Chadad had this to offer about Melyssa’s coming on board:

“We are extremely excited to have Melyssa on board with Blu Realty. Ms. Ford will add a high net worth clientele base to our already diverse client list in New York.”

Blu Realty Group specializes in the sale, purchase and rental of luxury homes in New York City. Ford was Complex Magazine’s “Video Vixen of the Decade” as well as number 43 in their “100 Hottest Women of the Decade” list in 2012. But it is Ford’s philanthropic efforts for which she is perhaps more noted. In 2010, Ford created “L.E.S.S Is More”, a non-profit organization, and her HIV and other awareness educational efforts are well known.

Readers who want more information about Ms Ford of Blu Realty Group should contact the firm at: (212) 380-8879

Or alternatively,  Elyse Landwehr at Berk Communications at: 212-889-0440 ext. 220. The image below is an example of one of Blu Realty’s listings taken from their website.

80 Riverside Blvd #PH2A • Blu ID: 1893

Founded in 2010 by three former Morgan Stanley executives, GreenOak has already purchased $1 billion of commercial real estate (according to December 2012 data) with its $350 million Fund I and co-investor capital, money from operating partners and mortgage debt, according to a statement of Chris Niehaus, one of the New York-based firm’s partners who is also the head of its U.S. business. GreenOak completed raising the first fund in August 2012.

“Our investment strategy has focused on the high-barrier- to-entry, core gateway markets,” Niehaus said in a telephone interview. “New York remains a major opportunity. It’s a big, deep market with the ability to buy below replacement cost if you are patient and have the right relationships. There’s a lot of liquidity to sell.”

GreenOak plans to use the money raised for this second fund to invest in property in so-called gateway cities, coastal metropolitan areas such as New York, Washington, Boston, Miami and Los Angeles. They plan on buying underperforming assets below replacement cost in areas with strong leasing demand.

The firm closed its hotel deal in the fourth quarter of last year, in Miami, and plans on buying more commercial property in the south Florida city.

GreenOak has also started to sell their earlier acquisitions to return money to their investors. American Realty Capital New York Recovery REIT Inc. has just announced an agreement to buy  218 W. 18th St. in Manhattan’s Chelsea neighborhood from a joint venture of Atlas Capital Group and GreenOak for $112 million.

© chagin – Fotolia.com

Instant credibility 

Most people won’t automatically dismiss a business just because it only exists online, but you’re probably going to have to work a bit to convince them that you’re for real and know what you’re doing. After all, it’s no big secret that online businesses are cheap and easy to create- who’s to say you won’t give up on this real estate thing in a few months and leave them high and dry? In contrast, opening an actual brick and mortar office takes a level of commitment that isn’t easy to walk away from. That money you’re investing to lease the space and make it look nice is in itself a form of advertising that tells potential customers you’re not going anywhere.

Free advertising

By leasing space in a high-trafficked area and putting your company logo over the door in big neon lights (probably not literally), you’re announcing yourself to everyone who happens to pass by in a way that’s just not possible online. There are no virtual streets to drive down or businesses that you can see while taking a virtual stroll. This kind of passive advertising is something that can help get a lot of walk-in business.

Expanded customer base

By solely operating online, you’re automatically limiting yourself to a specific kind of customer- people who are willing to look online for a realtor! There are many people (especially older clients) who simply won’t consider doing this. Some older potential customers may not use the internet at all, and others may feel that a decision as big as buying or selling a house shouldn’t be left up to an agent’s Google search ranking and a few anonymous online reviews. By opening a real world office, you can attract people who are still nervous about web transactions and woo them with a face-to-face encounter.

Become a one-stop shop  

One of the bigger advantages of opening a real estate office for your business is that you can rent out any of your unused space to related businesses like mortgage and title companies. This way, any customers that come to you (or them) can get everything they need taken care of in one convenient place and you can drum up more business for each other by recommending clients. And don’t underestimate the convenience factor for you when you can ask questions to closing officers and lenders just by knocking on the office down the hall.

Make use of your time 

Part of being a real estate agent is that you constantly have to drum up new business. When all you have is a website, this means spending a lot of your time answering emails and trying new online marketing techniques to even get to the point where you can meet with a potential customer in person. With a brick and mortar store, this downtime can be spent in an office where people can see you and come to you without any of that preamble during your regular business hours. Even if most of the people who stop in or call just have a few questions, you’ll be able to start forging that relationship that will make them want to use you as their agent. No matter how many emails you send, it’s just not the same.

About the Author: Jerry Davidson is a business professional who specializes in commercial real estate. Click here to see some of Jerry’s work for Door Systems. 

© Patryk Kosmider - Fotolia.com

If answered yes, experts say that this is possibly the right time to take the plunge. In most places around the United States of America, you can still take advantage of the low prices of the real estate properties and to add to your joys, the present mortgage rates are at once-in-a-lifetime-record low levels. The 15 year and 30 year fixed mortgage loans are being lent to people at an interest rate of 3% and 4% respectively and this is the reason that a large number of struggling homeowners are now opting for mortgage refinance.

Although the prices of properties are also at their 2003 record low levels, the signs of an imminent resurrection are everywhere you look. In the month of March, 2012, the number of people signing contracts to purchase homes rose by 5%, according to the reports of the National Association of Realtors, the highest level in the last 2 years.

There are many prospective homebuyers who are shocked that one clash of the bubble era is back again. As per the studies conducted by Wall Street Journal, there are less homes for sale in many markets than what there were last quarter. There is a comparatively tight inventory in markets like Phoenix, Sacramento, Washington, D.C., leading mortgage experts to caution that the law of supply and demand is going to kick in soon.

Are buyers more interested short sales and foreclosures?

No, according to recent studies, prospective homebuyers are shying away from these. Many foreclosure specialists are of the opinion that there are wars over foreclosures, as investors are sure that such rock-bottom prices aren’t going to last forever. An increase in the number of short sales is actually a positive sign, as short sales cause less harm than foreclosure. Foreclosures drive values down and furthermore, foreclosed homes often fall prey to neglect and vandalism.

For banks, short sales are better as they can let go of distressed properties without having to pay so many administrative costs. Short sales have already eclipsed foreclosure sales in the last quarter of 2011 and this shows a constant rise in the number of short sales as compared to foreclosure sales.

Are more buyers investing in vacation homes?

The real estate recovery is being driven by the fact that an increasingly large number of buyers are snapping up vacation homes. Since 2011, vacation home sales have grown by 8% and this rise is primarily due to the fact that more people are looking for ‘getaways’ that are closer to their primary residences so they can curb their travel costs.

Buying investment properties has also risen by 66%, as there are many investors scooping up cheap foreclosure properties and renting them out. Experts are saying that the foreclosure to rental conversion business could soon be worth $100 billion a year. Buyers are slowly beginning to comprehend the huge potential of the real estate investing market, with more than a quarter of houses sold in 2011 being investment properties. This is one of the reasons why homeownership hit a rock bottom level in the first quarter of the year, as per the data from the US Census Bureau.

As soon as the mortgage lending rules loosen up, there will be more renters who would love to become homeowners. As young adults in the US are clobbered by high interest student loan debt, this is keeping them from taking the plunge into the US housing market. Economists are of the opinion that as  financial stability is restored in the US, there will be a marked improvement in the real estate market too.

About the Author: Chris loves to write financial articles and she is a contributory writer associated with many financial communities and has written several articles on debt consolidation, debt settlement, loan, mortgage, loan mortgage calculator for various financial websites. She holds her expertise in the Debt industry and has made significant contribution through her various articles.

Empire State Building. Image courtesy of Sustainability Ninja

This means that one day soon, you could (indirectly) grab yourself a share in the Empire State Building, the most expensive, ostentatious lighting rod you’ll ever get to own! Now wouldn’t that be something to brag about?

250 West 57th Street. Image courtesy of Observer.com

Before all of this happens, the Malkin family will need to secure approval from their principal partner in the Empire State Building, the estate of Leona Helmsley, while also securing the permission of the company’s 3,400 limited partners.

According to sources close to the Malkins, the new real estate company would also own several other prominent buildings, such as 250 West 57^th Street and 1 Grand Central.

Manhattan offices. Image courtesy of OLX.com

Quite a few observers think that the new company shares will be an attractive proposition for many investors. Michael Knott, with the Green Street Advisors, explained that “Investors from across the world are desperate to get their money into office properties in Manhattan, both equity and debt.”

Manhattan. Image courtesy of Virtual Office FAQ

However, perhaps we shouldn’t get too excited, even if we do manage to land a piece of the Empire State Building. Although certain bragging rights will be obtained, as is the case with most publicly traded companies, those who hold minor stakes will have very little say in what actually happens with the building.

Daniel Radcliffe. Image courtesy of Danielradcliffepictures.org

Last week it was announced that Daniel, 21, who already owns a $5.6 million apartment and a $4.8 million loft in the city, was casting his net further over the New York property markets, this time snapping up a luxury home in Manhattan’s exclusive West Village district for almost $6.5 million.

Big spending Daniel, who is also the proud owner of a luxury flat in Fulham, West London, UK, is reported to be keen to rent out his latest acquisition.

Inside Daniel's new home. Image courtesy of Bitten and Bound

It’s been reported that the property in question, a 3,000 square foot, five-bedroom townhouse, will be able to rake in around $8,000 a week for the young actor.

It seems that Daniel is not only a wizard with his magic wand, but also pretty smart when it comes to investments too. Media analyst Mike Raia confirmed this view, saying “It’s clear that Daniel’s growing property portfolio demonstrates a lot of common sense when it comes to investments”.

West Village, Manhattan. Image courtesy of New York Times

Daniel’s glittering career as Harry Potter is about to come to an end when the final installment of the hit movie series is released this July, but it’s success has transformed him into one of the youngest stars in the UK, with an estimated net worth of $73.5 million.

Los Angeles based Realtor and Harry Potter fan Michelle Gallo heaped praise on the star’s business nous. “He is being very shrewd” she told a UK newspaper. “What with the depressed market prices, now is the perfect time to buy… that is, if you can afford it”.

New York homes are some of the most expensive in the US. Image courtesy of srtianjia

Well apparently they just did for some. According to a new market report from the real estate Miller Samuel, released on Friday, New Yorkers are not only enjoying all of the above delights, but now they have the privilege of paying five times as much as the rest of America does for their homes. So how is this good?

New York’s housing market is looking strong compared to other parts of the U.S., not that that says a lot. Prices have dropped considerably since the peak of 2008, when a condo was costing an average $1,400 per square foot. This year, the price has dropped to little more than $1,000.

New York Condo. Image courtesy of images.frontdoor.com

This almost 30% drop means a cool $1 million discount on the price of a 1,000 square foot condo.

The average price of a New York home fell by 2% in the first quarter of this year, to around $800,000, according to an estimate by the Corcoran Group.

Things are unlikely to change much more though, thinks Jonathan Miller of Miller Samuel. He said that “Prices are neither likely to rise or fall for the rest of the year. We’re experiencing a post-stimulus real estate market, and it’s going to be weak. Expect 2011 to be quite boring”.

Easy money is not always the best bet

There was an excessive supply of money at the beginning of this trend. Mortgage lenders and other investors were willing to give out loans to just about anyone in the hopes of gaining explosive marginal gain. The process of analyzing financial status was lax and you could get a loan for a house with no income at all. Since the crisis, banks and mortgage lenders have tightened the purse strings and your credit history and current financial standing is critical to having a mortgage pre-approved now, but during the boom basically anyone could get cash for a house.

Before taking out a mortgage to buy a house, self evaluation is important in guaging your household’s ability to service the mortgage without really straining your resources to the breaking point. This is the biggest single reason so many people are in foreclosure right now. Using the excuse that Wall Street caused your situation just won’t fly.

Even if a mortgage lender approves your application with only a 3 percent down payment, you should make sure that you have saved enough to manage the usual 20 percent down payment requirement. Monthly installments will be less and you will not strain to make other ends meet nearly as much as if you stress your limitations. It may mean that you have to wait a little longer before you can buy your house as you save more for the down payment, but it will also mean that you are better positioned to service the mortgage without a lot of stress.

The housing market was destroyed by bad practices

Some lending institutions will insist that you have a financial reserve deposited with them so that you can still service your mortgage should the unexpected happen and you find yourself temporarily unable to bring in an income. However, even if you get a mortgage from other institutions without such a requirement, you should make sure that you have a cash reserve saved up in an account to serve the same purpose. This will go a long way to gibe you peace of mind if you ever find yourself in such a situation.

Getting a home is not just about buying the structure; you should take into account other costs associated with purchasing a new home. You will need to furnish it to make it habitable for you and your family. You will also need to take into consideration the costs of maintaining the house.  How much will it take to buy beds, seats, and a play house for the kids in the backyard etc? Should you need to redo the plumbing, how much will the plumber ask for his services?

Image credits - © pojoslaw - Fotolia.com

Take an honest look at how much liability you have. Do you have a car loan? What is your monthly credit card bill? Your total debt load will have a huge impact on how you service your mortgage, so before you even consider applying for one, look for an accountant who can help you work out the numbers and advise you on whether it is a good idea to buy a house now.

You may have to wait a little longer to purchase your home if you follow these best practices, but if worse comes to worse your situation will not be nearly so dire. In the end, owning your home is the goal, and having it repossessed will take you years to overcome. The old saying “an ounce of prevention is worth a pound of cure” has taken on new meaning since the economy went South.

Taking a look at the most expensive home purchases in New York this year tells a bit of the “where’d the money go” tale – showing us a few well heeled Wall Street moguls and insulated LLC peeps shrugging off economic woes like Atlas, while the rest of us pick at slim pockets. But then $20 million bucks to some is pocket change to others. Here are a few of the highlights of 2010 real estate home sales.

The Plaza Hotel penthouse made this year's list

1009 5th Ave. sold for $44 million to Mexican billionaire Carlos Slim. This century-old Beaux Arts townhouse is said to be the only private mansion left on 5th Avenue. Still, that many millions seems a steep price to pay for only 20,000 square feet in the heart of New York – uh hum.

15 Central Park West went for the paltry sum of $40 million forked over by a mystery buyer to mega developer William Zeckendorf, making the purchase the most expensive condo in the city, maybe anywhere? Coming in  just behind this Central Park sale is another prime sale at 1 Central Park West to Malaysian party boy Jho Lo for a reported $33 million and change. The foreclosed upon Trump International penthouse may look like a steal at any price, but millions more will be needed for renovating the dated showplace.

1009 5th Ave sold for $44 million in 2010

Moving away from Central Park for a bit, we find 400 W 12th St sold for a reported $31 million + by Houston Rockets owner Leslie Alexander. Then dropping down into the middle class of millionaire digs, those beneath $30 million,  we find 1 Central Park South at just under $29 million, 141 Prince St virtually stolen for §27,500,000, 778 Park Ave sacrificed at $26 million, and 115 Central Park West switching owners for a flat $25 million bucks.

Maybe the most interesting of these “budget” home sales shows us where some of that hedge fund money ventured off to. John Read Taylor added new meaning to the phrase “easy come easy go” when he paid $4.5 million over the asking price of the 11th floor apartment at 1068 Fifth Avenue. So much for George Soros clones, at least someone is benefiting from those lost trillions.

One needs a big apartment to hold all those balloon critters

Finally, the last house on Curbed’s prestigious list came it at a cool $20 million and sold to artist Jeff Koons.  13 E 67th St is a 10,000 square foot apartment is next door to Koons’ other apartment he paid $12 million last year. Reportedly the artists intends to combine the two into one. There you have it.

If ever the American Dream were in need of rejuvenation, there are actually some people living it. When a man can afford to fork over $32 million smackaroos for a big apartment, after winning fortune and fame for balloon animal art – now that is a fairy tale. Our featured video reveals a bit of the luxury some of these properties offer, in particular One Central Park.