Category Archives: Business

The New York City Real Estate Market Has 2017 Challenges To Overcome

For more than seven years, the only way to describe the New York real estate market is to use the word, “insanity.” Real estate professionals have used terms like “the market has no ceiling,” “it’s a seller’s market,” and “it’s a crazy ride,” to describe what is going on in New York City. But in 2016, terms like cooling off, softening, shifting, stabilizing, and correcting were the new buzzwords to describe the market. There are reasons these new words are in vogue in the real estate business now.

The luxury sector of the New York City market is in trouble. Agents say in 2016 there was a surge in sales in the luxury market, especially in units priced at $4 million and above. But the surge was due to a price reduction of 11 percent or more because the properties sat on the market for more than 311 days. As one real estate agent so eloquently put it, “there’s some crazy stuff going on in the New York market right now.”

The city’s real estate market has to adjust to the supply and the demand for of luxury properties. The supply far exceeds the demand. Developers saw a chance to make more money in years past, so they raised prices faster than a speeding bullet. But buyers’ wages didn’t keep up with the increases. Wage increases stayed in the two or three percent range over the last three years, and rents went up by eight percent or more every year. The luxury sector of the New York real estate market is softer than a New Jersey soft-shell crab, and there’s little chance it will get stronger in 2017.

But there are other issues facing the real estate market in 2017. The fragile stock market is one of them. Trump’s win created a bullish market, and that surprised some real estate and stock investors. But there are signs stocks are cooling off. The stock market dropped by more than 240 points recently. The drop was due to the issues facing Trump’s healthcare plan, his stand on immigration, the Russian debacle, and a general distrust of his ability to lead the nation in a way that is acceptable to most citizens. Trump’s approval rating is in the toilet, and theirs is little chance that rating will improve unless Trump can pull another trick from his bag of unusual alternative facts.

If the confusion, mistrust, and incompetence continue in Washington, the stock market will feel the brunt of those issues. And if the stock market takes a hit, the real estate industry will too, especially in New York City. More than 20 percent of potential real estate buyers will postpone buying if the stock market goes into bear mode. The other fly in the real estate ointment is the recent interest rate hike. Fed Chairman Janet Yellen said more increases are on the way in 2017, and those future interest rate hikes will impact the mortgage industry. Even though there is an unusual amount of cash sales in the New York market, most buyers need a mortgage to handle a $2 million one-bedroom apartment purchase in Manhattan.

But there is also a conflict of interest issue lurking in the real estate shadows that could impact sales in New York City. The common practice in New York and across the United States is to allow agents and brokers to represent a buyer and a seller during a specific transaction. Some industry experts say that is like letting one lawyer represent the plaintiff and the defendant in a lawsuit. Because of the real estate slowdown in New York, some developers are offering broker incentives. Developers are willing to pay 50 percent of the commission upfront or a higher commission if brokers bring buyers to their new condo and apartment projects. If a broker is steering a client to a condo project just to earn an extra, or an upfront commission, then a conflict of interest is in motion, according to some investors like Arthur Becker.

Becker is a high-profile tech and real estate investor. Becker has more than $500 million invested in New York real estate through his company, Atlantic Investors LLC. The former husband of Vera Wang is familiar with the double-dipping that goes on in the market. Many investors say there is room for concern about this one representation practice going forward because of the market slowdown.

But even with all the challenges, the New York City real estate market still attracts buyers from all over the world. Some foreign investors want to own a piece of New York at any price, and they are willing to use any means necessary to close the deal. That may sound like good business, but there are ethical concerns. Stricter rules may not be what brokers want, but just like the appraisal business, more rules may be necessary to protect real estate ethical standards.

Cotemar Mexico – The Largest Provider for the Oil and Energy Sector

Cotemar is a Mexican company that is a leading provider of services for the oil and gas industry in Mexico. The company was established 38 years ago in 1979 and has been in operation ever since -growing and evolving. Today the Cotemar Company is the most sought after company in Mexico that services the gas and oil industry of the country. Cotemar provides a solid number of services in segments such as Accommodation and Catering, Specialized Vessel and Maritime Support, Construction, Modernization, Maintenance. The Cotemar Company had been working in partnership with Petroleos Mexicanos or Pemex ever since the start of the company almost forty years ago. Since then, however, the company has expanded and added a handful of integrations from the likes of new cutting edge technology that has largely increased the productivity and the efficiency of the Cotemar Company. When the company started, it had only a handful of employees but up to date there more than 10 000 employees.

When it was first founded, Cotemar used to provide services only for the energy sector of Mexico. The only services it used to provide were accommodation and catering. Cotemar changed in 1981 when it started offering transportation of both employees and materials. Four years later in 1985 Cotemar acquired their very first rig and proudly started offering catering as well. In 188 Cotemar experienced another significant expansion and was able to offer most of the services it provides presently. Cotemar came into the possession of five rigs as well as three specialized vessels that were able of operating at the same time. That allowed the company to grow and expand their body of clientele. 2002 was a landmark year for the Cotemar company. After another growth spurt, they got their first Hibernia. A decade later, in 2012, Cotemar expanded their fleet once more along with their professional force. They acquired a specialized crane as well as several maintenance vessels that were added to their services. The company was then able to provide transport for not only solid materials but for liquid ones as well. A year later began the construction of Atlantis and after two years in 2015 Cotemar decided to work in the field of the onshore upstream sector. The year 2016 was an especially successful for Cotemar. Servicios a la Industria Petrolera Lifting de Mexico is a subsidiary of Cotemar which received the Cuichapa Poniente area contract award.

The secret to achieving a great home

Goettl is a private company formed in 1939.Ken Goodrich owns it. It offers the heating, ventilation and air conditioning services. Goettl head offices are available at Las Vegas, Phoenix and among other areas. Currently, it has over 200 employees. The company has also diversified its services through an affiliate firm, Sunny Plumber, where they offer plumbing and draining services.


The company provides services like the air conditioning. Goettl provides installation of the system as well as the maintenance. It enables you to have a neat home that will increase your comfort. Goettl also offers the heating services. The organization is determined to ensure the systems perform well. It’s very hard to get a profession in the field; this is why the Goettl is willing to help. The best thing is that the firm offers services on many types of equipment used at home. They also provide the duct services. They detect where your cooling system may be leaking to the outside. The correct measure gets thus taken. The other significant activity is the indoor air cleaning where the firm has the machines to ensure that they purify the air. It ensures you avoid the lungs related ailments that result after inhaling dirty air.


With the shift of the marketing from the ordinary to the use internet particularly social media, Goettl has embraced the technology. They get found in many social media like the LinkedIn showing the services they offer. Their availability ensures they create awareness of any new products to their clients, and update them on the current promotions. The method makes it easier to deliver information to a large area. The sites also provide room for direct contact with the clients. It has made the clients get the services from the comfort of their homes. Surely, Goettl is a company to watch.