Technology In The Real Estate Market

We’ve seen a lot of changes in our world over the last few weeks.  From cancelled events to social distancing, our normal day to day activities have all been affected by the COVID-19 pandemic. If you are one of the many home sellers/buyers, you may be wondering how this will affect the Staten Island real estate market.  I spoke to Tracey Propora from the Staten Island Advance about the rapidly shifting real estate market and how technology is playing a big role.

I was quoted saying, “Technology is definitely at the forefront. Although that has been a trend we have been talking about for the past few years, there certainly has been an acceleration in the past few weeks. We anticipate many of the tools we are

Casandra Properties CEO, James Prendamano, spoke with Tracey Porpora from the Staten Island Advance to discuss how winter temperatures can affect the real estate market.  While some businesses are seeing a negative impact with warmer winter temperatures others are doing better.

James was quoted saying, “There are always the critical economic indicators that drive the housing market...Seasonality also plays a role in the heartbeat of the market. Typically, in the winter there’s a bit of a drop in active homebuyers. Weather, the holidays, children’s school year all contribute to that seasonal shift we see during this time. Overall, however, the market is as strong as it has been in quite some time.”

To read the full article click here.

Our CEO, James Prendamano, had the opportunity to speak with Tracey Porpora at The Staten Island Advance to discuss the Renter Migration Report by Apartment List. 

The study revealed that 32.3% of apartment hunters currently living in New York are looking to move elsewhere.  James was quoted saying “We have been talking about how the cost of living, coupled with technology decentralizing everything from real estate to employment basis, has been leading to a significant migration out of New York and the city in general. While the 2020 Migration Report reveals what seemed to be staggering numbers, this should come to no surprise to anyone, as it just confirms what we’ve been seeing on the ground. ... It’s hardly a coincidence the cost of living for

Casandra Properties CEO, James Prendamano, recently had the opportunity to discuss housing prices on Staten Island with Tracey Porpora at the Staten Island Advance.  SIBOR (Staten Island Board of Realtors) statistics, released in November, showed the median sale price at $572,500 for a home on Staten Island. 

James was quoted saying “Staten Island still remains a very affordable option when compared against the rest of New York City. A massive benefit of purchasing real estate on Staten Island is we were relatively unaffected by the tremendous influx of foreign money into our competitive markets. As a result, we were equally unaffected as regulatory changes caused that money to dry up.  Staten Island real estate investments remain some of the most

Casandra Properties CEO, James Prendamano, spoke to Tracey Porpora from the Staten Island Advance to discuss the latest study that found foreclosures have spiked on Staten Island over the last year. The study conducted by Property Shark saw an increase of home foreclosures from 48 in the third quarter of 2018, to 136 in the same quarter in 2019. 

“There is a big difference between a loan that is not performing and one that is actually been put into the foreclosure process. In many cases these non-performing loans are sold in bundles at significant discounts off par value to other banks and investment companies.  It is not unusual for a loan to be sold several times before arriving at its final servicing entity.  The average homeowner would notice

Tracey Porpora at the Staten Island Advance chatted with our CEO, James Prendamano about the Millenial generation. Per a new study by Apartment List, 26-year-olds are now, more than ever, more likely to live with a parent than a spouse.  In fact, just 50 years ago the percentage of 26-year-olds living with a spouse was 76%.  That number has now reduced to only 24%.  What is causing this rapid decline?  

“As so many things have changed over the last 20 years, so have our social patterns and that indelibly ties to real estate patterns.  Today, the average age for marriage is 28.2, so you’re seeing these folks stay at home longer in many cases to pay back large student loans, save on housing costs, etc.,” said James Prendamano. 

To read the

James Prendamano, CEO of Casandra Properties discussed the analysis by the home search platform Localize.city with Tracey Porpora from the Staten Island Advance.  According to the study Staten Island had 2,327 heat-related 311 complaints from renters last year. These complaints are among a total of 221,858 complaints from New Yorkers.  

James was quoted saying “Last year Staten Island registered only 1% of the city-wide complaints.  Unfortunately, we are predicting these types of complaints to increase as the new rent laws have significantly impacted investors motivation to invest in this type of infrastructure and upgrades for their buildings overall.”

To read the full article click here.

For more information about the Staten

Our CEO, James Prendamano, recently had the opportunity to discuss the reasoning behind the increase in home prices that are within walking distance to the Staten Island Railway (SIR). According to the study you can get anywhere from 9%-34% higher price for your home vs. elsewhere on the Island. The average price of a home near a SIR station is $499,000, with the rest of the borough averaging $459,000.

James was quoted saying “All things being equal, it makes perfect sense the train stops from Mid-Island and those as you get closer to the ferry carry with them pricing bumps in and around the train stations.”

To read more click here.

If you are interested in selling your home or purchasing a new home we are here to help!  Please

Casandra Properties, Inc. CEO, James Prendamano, spoke with Tracey Porpora from the Staten Island Advance to discuss one of Casandra Properties commercial real estate listings, 139 Bay Street, Staten Island.

The article states that with condominium prices rising in all other boroughs Staten Island’s North Shore has become a new focus for real estate moguls.  James weighed in on this and was quoted saying, “The proximity to public transportation..coupled with the complete crazy, egregious pricing that developers are experiencing in Manhattan, Brooklyn and the other boroughs, makes Bay Street very appealing.”

139 Bay Street is one of three Bay Street buildings on the market.  “The former Fishs Eddy building, and before that a Studebaker

Our CEO, James Prendamano, had the opportunity to speak with Crain’s New York to discuss what we have seen in the past and what has been happening on the ground in real time on Staten Island’s North Shore. The article is entitled A Shore Thing: Staten Island’s North Shore Booms Along Bay Street. 

James was quoted saying “Staten Island as a whole has been shockingly stagnant since 1975 but these developments have had a profound impact.  Ten years back this area was not as appealing but I am bullish on it now. There’s tremendous growth opportunity here.  There’s such demand for housing and people want a walkable community and transit-based development”.  James went on to say “This wasn’t big bad developers pushing people out – in all these