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Five Decades of Excellence: Celebrating Corcoran’s 50th Anniversary

Five Decades of Excellence: Celebrating Corcoran’s 50th Anniversary
PR Newswire
NEW YORK, April 19, 2023

From New York City’s original market report to being the first Manhattan real estate brokerage to launch a website, Corcoran toasts a half-cent…

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11 months ago

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Five Decades of Excellence: Celebrating Corcoran's 50th Anniversary

PR Newswire

NEW YORK, April 19, 2023

From New York City's original market report to being the first Manhattan real estate brokerage to launch a website, Corcoran toasts a half-century of growth and innovation

NEW YORK, April 19, 2023 /PRNewswire/ -- The Corcoran Group, Manhattan's #1 residential real estate brokerage, today announced the firm's 50th anniversary. A woman-led brand since its inception in 1973, this notable milestone comes at an exciting time for Corcoran following its recent expansion into Europe. From a small office with big dreams to a thriving business with over $30 billion in annual sales, the Corcoran name continues to stand for excellence in real estate.

Barbara Corcoran founded her eponymous residential real estate company on the Upper East Side of Manhattan with just seven agents and a $1,000 loan. In the years that followed, the firm expanded quickly – first to downtown Manhattan and then across the bridge to Brooklyn.

But Corcoran's early growth wasn't solely geographic. In 1981, The Corcoran Report – the first real estate market report – began covering New York City real estate trends. Pamela Liebman, a real estate agent at the time, created Corcoran Marketing Group in 1990, a division dedicated to the planning, design, marketing, and sales of residential new development projects. A few years later Barbara launched Corcoran.com, making the firm Manhattan's first real estate brokerage to come online.

"Everyone who works at The Corcoran Group put their heart and soul into the business," said Barbara. "We were able to attract and keep the best people, and it was the herculean efforts of our people that got us through all the tough times and pushed us ahead in good times. We survived the city's bankruptcy, the stock market crash, the AIDS epidemic, and 9/11. The Corcoran Group became a great company because of its phenomenal people."

In 2000, Barbara named Liebman the firm's President and Chief Executive Officer, a title she continues to hold 22 years later. Barbara then sold the firm to NRT in September 2001.

Once at the helm, Liebman started expanding Corcoran into key East Coast markets with the acquisitions of top-tier firms in South Florida and the Hamptons, and with the purchase of Citi Habitats, New York City's largest rental brokerage firm. Liebman also led the acquisition of The Sunshine Group in 2002, creating the Corcoran Sunshine Marketing Group, recognized as the premier industry leader in luxury residential new development.

2004 unveiled Corcoran's acclaimed 'Live Who You Are' marketing campaign, a brand transformation led by Chief Marketing Officer Christina Panos, and what ultimately became the ethos behind the brand's human-first approach to real estate. To bring the campaign to life, Panos engaged renowned photography legends like Tina Barney and Annie Leibovitz and, in doing so, singlehandedly introduced fashion photography to the real estate industry.

Another industry first was the launch of Agent Studio in 2017, a center dedicated solely to the development of Corcoran's agents. In the first-of-its-kind, state-of-the-art space, the team provides agents with the tools they need to grow their businesses. Agent Studio continues to feature classes, expert panels, and an in-house Mindset and Marketing Coach who helps agents bring their businesses to the next level. In March 2020, in response to the COVID-19 pandemic, Agent Studio immediately shifted to a fully virtual platform to ensure agents were equipped with the tools and the knowledge needed to rule the recovery.

"As we celebrate Corcoran's 50th anniversary, it's incredible to look back on the past half-century and see how much both Corcoran and the real estate industry have evolved," said Liebman. "From the rise of technology to the changing needs of our buyers and sellers, we've seen tremendous shifts in the way we do business. What hasn't changed is our commitment to providing exceptional service to our clients. While the world is a much different place than it was 50 years ago, the dream of homeownership remains the same."

2020 saw the launch of the Corcoran Affiliate Network, a strategic vision that swiftly grew to ten markets worldwide within the first year. Recognized as parent company, Anywhere Real Estate's fastest-growing brand, Corcoran marked its one-year anniversary with the launch of its first global franchise in the British Virgin Islands. In just over three years, the brand stretches across more than 170 offices – coast to coast in the United States, across six Caribbean islands, and in Italy as of March 2023, marking the brand's first European affiliate.

Over the past five decades, Corcoran has built a reputation for a human-first approach to the industry, coupling a modern mindset with traditional values of service, integrity, market expertise, and neighborhood fluency. Corcoran's sense of service proudly extends far beyond just providing knowledgeable real estate advice. Corcoran Cares, the firm's philanthropic arm, was developed as a way for agents and employees to be able to positively impact their local communities in the areas that matter most. Since its inception, Corcoran Cares has raised close to $5 million for worthy charities in New York City, on the East End of Long Island, and across South Florida.

Liebman remarks, "They say that time flies when you're having fun, and that's certainly been true for me. To look back on all that we've accomplished over these 50 years – every first that Corcoran has brought to the industry through our tremendous agents and world-class staff – it makes me incredibly proud. I work alongside the best of the best, and I'm reminded of that every day. We're proud of our legacy and excited to continue shaping the future of real estate for another 50 years and beyond."

About The Corcoran Group
The Corcoran Group has been a leading residential real estate brand for 50 years. Through its New York City, Hamptons, and South Florida brokerages, along with its rapidly growing affiliate network, the firm is home to 170+ offices and more than 4,500 independent salespersons in key urban, suburban, and resort markets nationwide. Corcoran affiliated agents earn and keep their clients' trust with an unwavering commitment to white-glove service, expertise, and integrity. In every market served, Corcoran helps you find the home that's just right for you. The Corcoran® brand comprises both offices owned by a subsidiary of Anywhere Advisors LLC (f/k/a Realogy Brokerage Group LLC) and franchised offices, which are independently owned and operated. For more information about The Corcoran Group, please visit www.corcoran.com.

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SOURCE The Corcoran Group

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Aging at AACR Annual Meeting 2024

BUFFALO, NY- March 11, 2024 – Impact Journals publishes scholarly journals in the biomedical sciences with a focus on all areas of cancer and aging…

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7 hours ago

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March 11, 2024

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BUFFALO, NY- March 11, 2024 – Impact Journals publishes scholarly journals in the biomedical sciences with a focus on all areas of cancer and aging research. Aging is one of the most prominent journals published by Impact Journals. 

Credit: Impact Journals

BUFFALO, NY- March 11, 2024 – Impact Journals publishes scholarly journals in the biomedical sciences with a focus on all areas of cancer and aging research. Aging is one of the most prominent journals published by Impact Journals. 

Impact Journals will be participating as an exhibitor at the American Association for Cancer Research (AACR) Annual Meeting 2024 from April 5-10 at the San Diego Convention Center in San Diego, California. This year, the AACR meeting theme is “Inspiring Science • Fueling Progress • Revolutionizing Care.”

Visit booth #4159 at the AACR Annual Meeting 2024 to connect with members of the Aging team.

About Aging-US:

Aging publishes research papers in all fields of aging research including but not limited, aging from yeast to mammals, cellular senescence, age-related diseases such as cancer and Alzheimer’s diseases and their prevention and treatment, anti-aging strategies and drug development and especially the role of signal transduction pathways such as mTOR in aging and potential approaches to modulate these signaling pathways to extend lifespan. The journal aims to promote treatment of age-related diseases by slowing down aging, validation of anti-aging drugs by treating age-related diseases, prevention of cancer by inhibiting aging. Cancer and COVID-19 are age-related diseases.

Aging is indexed and archived by PubMed/Medline (abbreviated as “Aging (Albany NY)”), PubMed Central, Web of Science: Science Citation Index Expanded (abbreviated as “Aging‐US” and listed in the Cell Biology and Geriatrics & Gerontology categories), Scopus (abbreviated as “Aging” and listed in the Cell Biology and Aging categories), Biological Abstracts, BIOSIS Previews, EMBASE, META (Chan Zuckerberg Initiative) (2018-2022), and Dimensions (Digital Science).

Please visit our website at www.Aging-US.com​​ and connect with us:

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Click here to subscribe to Aging publication updates.

For media inquiries, please contact media@impactjournals.com.

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NY Fed Finds Medium, Long-Term Inflation Expectations Jump Amid Surge In Stock Market Optimism

NY Fed Finds Medium, Long-Term Inflation Expectations Jump Amid Surge In Stock Market Optimism

One month after the inflation outlook tracked…

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11 hours ago

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March 11, 2024

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NY Fed Finds Medium, Long-Term Inflation Expectations Jump Amid Surge In Stock Market Optimism

One month after the inflation outlook tracked by the NY Fed Consumer Survey extended their late 2023 slide, with 3Y inflation expectations in January sliding to a record low 2.4% (from 2.6% in December), even as 1 and 5Y inflation forecasts remained flat, moments ago the NY Fed reported that in February there was a sharp rebound in longer-term inflation expectations, rising to 2.7% from 2.4% at the three-year ahead horizon, and jumping to 2.9% from 2.5% at the five-year ahead horizon, while the 1Y inflation outlook was flat for the 3rd month in a row, stuck at 3.0%. 

The increases in both the three-year ahead and five-year ahead measures were most pronounced for respondents with at most high school degrees (in other words, the "really smart folks" are expecting deflation soon). The survey’s measure of disagreement across respondents (the difference between the 75th and 25th percentile of inflation expectations) decreased at all horizons, while the median inflation uncertainty—or the uncertainty expressed regarding future inflation outcomes—declined at the one- and three-year ahead horizons and remained unchanged at the five-year ahead horizon.

Going down the survey, we find that the median year-ahead expected price changes increased by 0.1 percentage point to 4.3% for gas; decreased by 1.8 percentage points to 6.8% for the cost of medical care (its lowest reading since September 2020); decreased by 0.1 percentage point to 5.8% for the cost of a college education; and surprisingly decreased by 0.3 percentage point for rent to 6.1% (its lowest reading since December 2020), and remained flat for food at 4.9%.

We find the rent expectations surprising because it is happening just asking rents are rising across the country.

At the same time as consumers erroneously saw sharply lower rents, median home price growth expectations remained unchanged for the fifth consecutive month at 3.0%.

Turning to the labor market, the survey found that the average perceived likelihood of voluntary and involuntary job separations increased, while the perceived likelihood of finding a job (in the event of a job loss) declined. "The mean probability of leaving one’s job voluntarily in the next 12 months also increased, by 1.8 percentage points to 19.5%."

Mean unemployment expectations - or the mean probability that the U.S. unemployment rate will be higher one year from now - decreased by 1.1 percentage points to 36.1%, the lowest reading since February 2022. Additionally, the median one-year-ahead expected earnings growth was unchanged at 2.8%, remaining slightly below its 12-month trailing average of 2.9%.

Turning to household finance, we find the following:

  • The median expected growth in household income remained unchanged at 3.1%. The series has been moving within a narrow range of 2.9% to 3.3% since January 2023, and remains above the February 2020 pre-pandemic level of 2.7%.
  • Median household spending growth expectations increased by 0.2 percentage point to 5.2%. The increase was driven by respondents with a high school degree or less.
  • Median year-ahead expected growth in government debt increased to 9.3% from 8.9%.
  • The mean perceived probability that the average interest rate on saving accounts will be higher in 12 months increased by 0.6 percentage point to 26.1%, remaining below its 12-month trailing average of 30%.
  • Perceptions about households’ current financial situations deteriorated somewhat with fewer respondents reporting being better off than a year ago. Year-ahead expectations also deteriorated marginally with a smaller share of respondents expecting to be better off and a slightly larger share of respondents expecting to be worse off a year from now.
  • The mean perceived probability that U.S. stock prices will be higher 12 months from now increased by 1.4 percentage point to 38.9%.
  • At the same time, perceptions and expectations about credit access turned less optimistic: "Perceptions of credit access compared to a year ago deteriorated with a larger share of respondents reporting tighter conditions and a smaller share reporting looser conditions compared to a year ago."

Also, a smaller percentage of consumers, 11.45% vs 12.14% in prior month, expect to not be able to make minimum debt payment over the next three months

Last, and perhaps most humorous, is the now traditional cognitive dissonance one observes with these polls, because at a time when long-term inflation expectations jumped, which clearly suggests that financial conditions will need to be tightened, the number of respondents expecting higher stock prices one year from today jumped to the highest since November 2021... which incidentally is just when the market topped out during the last cycle before suffering a painful bear market.

Tyler Durden Mon, 03/11/2024 - 12:40

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Homes listed for sale in early June sell for $7,700 more

New Zillow research suggests the spring home shopping season may see a second wave this summer if mortgage rates fall
The post Homes listed for sale in…

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March 11, 2024

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  • A Zillow analysis of 2023 home sales finds homes listed in the first two weeks of June sold for 2.3% more. 
  • The best time to list a home for sale is a month later than it was in 2019, likely driven by mortgage rates.
  • The best time to list can be as early as the second half of February in San Francisco, and as late as the first half of July in New York and Philadelphia. 

Spring home sellers looking to maximize their sale price may want to wait it out and list their home for sale in the first half of June. A new Zillow® analysis of 2023 sales found that homes listed in the first two weeks of June sold for 2.3% more, a $7,700 boost on a typical U.S. home.  

The best time to list consistently had been early May in the years leading up to the pandemic. The shift to June suggests mortgage rates are strongly influencing demand on top of the usual seasonality that brings buyers to the market in the spring. This home-shopping season is poised to follow a similar pattern as that in 2023, with the potential for a second wave if the Federal Reserve lowers interest rates midyear or later. 

The 2.3% sale price premium registered last June followed the first spring in more than 15 years with mortgage rates over 6% on a 30-year fixed-rate loan. The high rates put home buyers on the back foot, and as rates continued upward through May, they were still reassessing and less likely to bid boldly. In June, however, rates pulled back a little from 6.79% to 6.67%, which likely presented an opportunity for determined buyers heading into summer. More buyers understood their market position and could afford to transact, boosting competition and sale prices.

The old logic was that sellers could earn a premium by listing in late spring, when search activity hit its peak. Now, with persistently low inventory, mortgage rate fluctuations make their own seasonality. First-time home buyers who are on the edge of qualifying for a home loan may dip in and out of the market, depending on what’s happening with rates. It is almost certain the Federal Reserve will push back any interest-rate cuts to mid-2024 at the earliest. If mortgage rates follow, that could bring another surge of buyers later this year.

Mortgage rates have been impacting affordability and sale prices since they began rising rapidly two years ago. In 2022, sellers nationwide saw the highest sale premium when they listed their home in late March, right before rates barreled past 5% and continued climbing. 

Zillow’s research finds the best time to list can vary widely by metropolitan area. In 2023, it was as early as the second half of February in San Francisco, and as late as the first half of July in New York. Thirty of the top 35 largest metro areas saw for-sale listings command the highest sale prices between May and early July last year. 

Zillow also found a wide range in the sale price premiums associated with homes listed during those peak periods. At the hottest time of the year in San Jose, homes sold for 5.5% more, a $88,000 boost on a typical home. Meanwhile, homes in San Antonio sold for 1.9% more during that same time period.  

 

Metropolitan Area Best Time to List Price Premium Dollar Boost
United States First half of June 2.3% $7,700
New York, NY First half of July 2.4% $15,500
Los Angeles, CA First half of May 4.1% $39,300
Chicago, IL First half of June 2.8% $8,800
Dallas, TX First half of June 2.5% $9,200
Houston, TX Second half of April 2.0% $6,200
Washington, DC Second half of June 2.2% $12,700
Philadelphia, PA First half of July 2.4% $8,200
Miami, FL First half of June 2.3% $12,900
Atlanta, GA Second half of June 2.3% $8,700
Boston, MA Second half of May 3.5% $23,600
Phoenix, AZ First half of June 3.2% $14,700
San Francisco, CA Second half of February 4.2% $50,300
Riverside, CA First half of May 2.7% $15,600
Detroit, MI First half of July 3.3% $7,900
Seattle, WA First half of June 4.3% $31,500
Minneapolis, MN Second half of May 3.7% $13,400
San Diego, CA Second half of April 3.1% $29,600
Tampa, FL Second half of June 2.1% $8,000
Denver, CO Second half of May 2.9% $16,900
Baltimore, MD First half of July 2.2% $8,200
St. Louis, MO First half of June 2.9% $7,000
Orlando, FL First half of June 2.2% $8,700
Charlotte, NC Second half of May 3.0% $11,000
San Antonio, TX First half of June 1.9% $5,400
Portland, OR Second half of April 2.6% $14,300
Sacramento, CA First half of June 3.2% $17,900
Pittsburgh, PA Second half of June 2.3% $4,700
Cincinnati, OH Second half of April 2.7% $7,500
Austin, TX Second half of May 2.8% $12,600
Las Vegas, NV First half of June 3.4% $14,600
Kansas City, MO Second half of May 2.5% $7,300
Columbus, OH Second half of June 3.3% $10,400
Indianapolis, IN First half of July 3.0% $8,100
Cleveland, OH First half of July  3.4% $7,400
San Jose, CA First half of June 5.5% $88,400

 

The post Homes listed for sale in early June sell for $7,700 more appeared first on Zillow Research.

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