Established in 1911, Douglas Elliman has grown to turn out to be the largest regional and the nation’s fourth largest real estate firm, with a current community of greater than 6,000 brokers in over 80 workplaces all through Manhattan , Brooklyn , Queens , Lengthy Island (including the Hamptons and North Fork ), Westchester and Putnam Counties, as well as South Florida , California , Connecticut and Colorado As well as, by a strategic partnership with Knight Frank Residential, Douglas Elliman’s highly effective network extends to 488 places of work in 59 international locations. When the winner, Hector Hassen, stepped to the auctioneer’s lectern with a cashier’s check for the full quantity, one of the losing bidders issued an ominous warning: “We personal the rights to that home,” he advised Hassen, meaning his firm had purchased the redemption rights earlier and will take the home away from Hassen any time within the subsequent one hundred eighty days.
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Unlike other investments, actual estate is dramatically affected by its surroundings and rapid geographic area; therefore the properly-identified actual-property maxim, “location, location, location.” With the exception of a extreme nationwide recession or depression, residential real estate values in particular are affected primarily by native factors, equivalent to the area’s employment rate, economy, crime rates, transportation facilities, quality of faculties and other municipal providers, and property taxes.
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