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Weekly News (January 30, 2019)

  1. Ridgefield, NJ town government encourages residents to perform Radon test
  • Town provides free test kits
  • Radon is colorless, smell less carcinogen which is the 2nd biggest reason for lung cancer
  • NJ EPA reported that 7% of total resident in Ridgefield has higher level than allowed level
  • Water line burst on Hamilton Ave in Ridgefield, NJ caused 10 houses got water damage
  • Suez company who manages water lines got blame
  • Town government cannot repair /manage private company’s infra-structure

 

  1. 99 Hudson Condo in Jersey City, NJ finished the roof top
  • Highest building in New Jersey.- 79 story, 900 feet, total 781 units
  • Goldman Sachs building was highest building – 781 feet (highest building for 15 years)
  • Developer is China Overseas America and Architect is The Perkins Eastman
  • Construction: The Plaza Construction, and Marketing Co is The marketing directors
  • Amenities includes roof top observation deck, play ground, swimming pool, BBQ grill, spa sauna, gyms, pet facility, etc
  • In unit, floor-to-ceiling windows, oak flooring, caesar stone countertop, washer and dryer are equipped among other features
  • Ask anything to Helena Liu (internal Sales/ C Land NY) at 201 315 1218

 

  1. Manhattan penthouse sold at $238M which is the highest residential price in US
  • Buyer is Ken Griffin(50) CEO of Citadel
  • So far, highest was $147M house in East Hampton, Long Island
  • Penthouse is in new construction 79 story condo, 220 Central park south
  • The unit includes 4 floors, total of 24,000 sf/ 16 bedroom,17 baths, 5 balconies and terrace facing Central park
  • He bought this penthouse as pre-sale unit in 2015
  • He also purchased condo unit in Chicago at $58.75M and condo unit in Miami at $60M, also he purchased $122M house in London this month, which is highest price in 10 years
  • He spent $250M to acquire vacant lot to build house in Palm Beach, FL

 

  1. “Northern Valley Green Way” Project initiated
  • Old Rail road will be converted to trail and cycling road
  • Northern Valley Green Way: Tenafly- Cresskill-Demarest-Closter-Norwood-Northvale
  • Already 6 town support obtained
  • Old Rail Road was not being used for last 10 years
  • Fund source would be private donation, corporate donation, and federal budget, etc

 

  1. House price went Up in Long Island, NY
  • Media price in Suffolk Co is up by 5.3% and Nassau Co, up by 4% to $515,000 while last year’s median price was $495,000
  • Suffolk Co median price is $380,000 while last year’s price was $361,000
  • In general, sales was declined: Nassau Co last month sales is 998, reduced by 6.6%, while sales a year ago was 1,069
  • Suffolk Co sales in December is 1,401, reduced by 6.7%, while sales a year ago was 1,401

 

  1. Still on-line fraud for rent cases
  • A case: Mrs K listed a rental house on general information web site. She got a call from a potential who was native speaker, saying that she sent deposit check for double amount ($3,900) of the security deposit, asking to return the difference from security deposit money because she needs to buy air plane ticket. Mrs. K sent $1800 wire. Later $3900 check turned out to be a false check
  • Sometimes, they intercept rent check through fraudulent advertisement
  • They approach through Facebook, Twitter, email, telephone, etc. /check address is not US address /issuer is not an individual, but a company address on the check is not existent
  • It takes about a week to identify normal check or fraud /do not wire within a week after deposit any checks

 

  1. Home sales in December dropped by 6.4%
  • Deal for existing homes fell 3.1% for 2018 to 5.34M which weakest total since 2015
  • December sale plummet by 6.4% to seasonally adjusted annual rate of 4.99M which is worst pace in almost three years
  • Home sales have slowed after years of strong price growth and modest inventories hurt affordability
  • More properties are sitting on the market, as days until signed increased to 46 from 40 days a year ago
  • Median sales price in December was $253,600 up just 2.9% from last year
  • Regional divide in price gains: NE posted 8.2% jump in median prices and South posted 2.5% gain
  • Lawrence Yun said Government shut down might affect 1% of sales in upcoming months even though it has yet to hit the housing market

 

  1. US Government Shut down causes about $200M loss per day
  • For 35 days, total loss was $60B ($60,000 per minute)
  • The budget for Trump’s Mexico border wall is $57B
  • Public sector: No tax collection/ No fee for public parks, etc
  • Private sector: South West Airline’s loss is $15M, Delay for new air route approval by FAA /Delta Airline loss is $25M
  • Government contractor jobs – about 4M jobs (no salary for 800,000 government employee)
  • Many small business who supply goods to US government
  • Temporary stop on 1/25 till 2/15 (without passing Trump’s Budget for Wall construction)
  • IRS delayed work load becomes serious: tax payers’ letter is piling up (about 5M letters), delayed employee education
  • In order to take care of delayed work load, IRS needs to hire thousands of employees
  • Receiving payment from IRS might be delayed

 

  1. Facebook might integrate “Messenger”, “Instagram”, “WhatsApp”
  • Facebook made Messenger, bought Instagram in 2012, and bought Whatsapp in 2014
  • Will keep independent messenger services , but free communication among them
  • Total user will become 2.5B which will be biggest network in the world
  • CNBC warned it becomes Anti-trust issue
  • EU already warned Anti-trust issue to Facebook mobile messenger

 


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Stephen Lee

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