Weekly News (January 30, 2019)

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

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

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

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

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

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

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

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