Jesse Buckler

Jesse Buckler

Licensed Real Estate Associate Broker

Jesse Buckler is an
Associate Broker,
working directly with the Managing
Directors at BOND New York, focusing on re-
sales and new developments in Manhattan.

• Featured by The Wall Street Journal and
Time Magazine’s Moneyland for his
expertise in the residential re-sale market.

•A guest broker on the HGTV show, Selling
New York, garnering the widest possible
coverage of his exclusive listings.

• Extensive Investor base.

• Member of the Residential Sales Council
of the Real Estate Board of New York.

• Originally from the peninsula of Calvert
County, overlooking the Chesapeake Bay,
Buckler earned a B.A. in Economics from
the University of Maryland.
“I began selling real estate when the
prevailing rate was 14%. It was a difficult
time for buyers. And sellers, alike.That’s
simply not so now.”

•A consistent top producer in Southern
Maryland home sales, Jesse moved to New
York City and went on to become a staff
member at CBS News, until recently
transitioning back into the real estate
industry.

• BOND New York Top Manhattan Salesperson 2011

• US and EU Passports

DIY Guru Gets Broker Help - Aug 2011 The Wall Street Journal.



July 2013
"I was represented by Jesse Buckler in the sale of my condo apartment Chelsea.
His preparation for the sale was impressive and I truly appreciated all his efforts. I recommend him as an expert Real Estate Agent. I felt he did everything he could to make the sale".

April 2013 by D Bartlett
"Being a first time buyer in New York I was surprised by how much I didn''t know about the buying process. I had met several brokers but then along came Jesse, from the start he listened to what I was looking for and made sure that my best interests were looked out for. Jesse was a wealth of information, making sure that I always had all the information I would need and that all my questions were answered. He is a true professional and made the entire experience painless, I would highly recommend him to anyone that is looking at real estate in New York."

April 2013 by G Sherrill
"Jesse quickly understood exactly the type of apartment I was looking for and found me the dream NYC apartment I wanted at an amazing price. He was extremely responsive, working tirelessly, but never wasting my time with places outside of what I wanted."

April 2013 by N Aspen
"Working with Jesse wasn''t only easy & efficient, it made the business of buying my home a genuine pleasure. I remain delighted with the service I received."

DNAinfo New York (09/18/2013) - Gulf Widens Between Real Estate Bids and Appraisals

Gulf Widens Between Real Estate Bids and Appraisals

Amy Zimmer

By Amy Zimmer on September 18, 2013 7:47am | Updated on September 18, 2013 7:47am

 

Apartments where appraisals came in low
 
Slideshow
Apartments where appraisals came in low

MANHATTAN — In today’s fast moving real estate market, many appraisals are not keeping pace with the prices that house hunters are willing to pay.

The value estimates are based on “comps” — sales of comparable homes of similar size within a roughly one-mile radius that closed in the previous 90 days. But New York's current tight inventory means fewer sales which, in turn, makes finding good comps a challenge.

Plus, with some neighborhoods seeing prices rise 5 percent each month, comps can be off by as much as 20 percent, brokers said.

Appraisals that are much lower than contract prices affect how much people can borrow. Banks usually approve loans of up to 80 percent of the assessed value of a home. Therefore, if there is a discrepancy between the loan and the sale price, it could kill a deal or force a buyer into putting more cash down to cover the gap.

Many brokers working for buyers are not only preparing their clients to expect low appraisals, but are also doing extra legwork, such as filing objections with banks or calling other appraisers for opinions to make sure the estimates come as close to the purchase price as possible.

“When you’re out there as a buyer looking, by the time you see five apartments, you know a good deal. It’s not brain surgery,” said Jesse Buckler, of BOND New York.

“But with my buyers now, I tell them to get ready and don’t be shocked. There’s a good chance the appraisal might come in under.”

Here are a some things buyers need to know:

What to do if you have a low appraisal:

In this sellers’ market, many buyers are now waiving mortgage contingencies to win bidding wars. That means getting out of a deal because of a low appraisal that affects one’s loan isn’t so easy. Buyers can lose a downpayment if a mortgage doesn’t come through, or have to cough up extra cash to make the difference.  

“A lot of whether you have the right to cancel and have any recourse depends on the contract,” real estate attorney Edan Pinkas said. “You always have to weigh the risk of not getting a loan versus how badly you want the place.”

A 600-square-foot one-bedroom co-op on East 72nd Street that was on the market for roughly three months and attracted four offers, for instance, went into contract for $440,000. But when the appraisal came in at $405,000 the buyer threatened to walk away, said Buckler, who represented the seller.

“The apartment was worth $440,000, but it was one of those of those buildings that hasn’t had a lot of sales,” Buckler said.

The buyer was only seeking 70 percent financing, and the bank was still willing to give the loan, so she couldn’t get out of the contract so easily.

In the end, she recognized the apartment's value and agreed to pay $440,000, Buckler said.

Why market appraisals are low right now:

“You have a market changing so rapidly with bidding wars [and] listings breaking records per foot within the span of a few weeks,” said appraiser Jonathan Miller.

And with tight inventory and fewer sales overall, it’s harder to have data for comps.

“What happens when you don’t have supply, the market becomes much more erratic and inconsistent,” Miller said. “You get more outliers.”

He likened appraisals to perishable products: "In a hot market, the appraisal fades faster."

How federal reform is affecting appraisals:

Further complicating matters are new federal rules requiring third party appraisers — who are generally inexperienced, most experts say — tabulating the prices that banks then use when lending.

The federal rules were implemented after the 2008 housing collapse when banks were working hand-in-hand with appraisers. But now, since banks pay these appraisers low fees, many come from outside the city and don’t know the block-by-block nuances of the market here, many experts said.

“New federal regulations have caused unintended consequences,” Michael Vargas, of Vanderbilt Appraisal Company, said. “More appraisals are being performed by the least experienced appraisers who are willing to work for lower fees.”

Buckler had recently represented a seller for an apartment on West 22nd Street that went into contract for $2.225 million and was appraised for $1.7 million.

“It was a beautiful condo in Chelsea,” he said. “I talked to the appraiser. He had never even been to Chelsea before.”

What brokers are doing to help:

“We make sure appraisals are done early so we can fix it if we can,” said Brian Meier, ofDouglas Elliman, who estimated that roughly 20 percent of appraisals are coming in below the purchase price. 

A two-bedroom on Bond Street a client of his bought recently, which went into contract for $3.2 million, was appraised for $2.8 million.  Meier’s team contested the figure, bringing the bank three other comps in contract and other comps that had closed but were not on the appraisal report. 

The appraisal was raised $320,000, and Meier got the seller to foot the bill for the extra $80,000 that the buyer had to put down.

Besides bringing comps, Meier lines up back-up banks for buyers.

“A property is worth what a buyer is going to pay, not what the appraisal is,” he said. “You have to walk [buyers] through it and hold their hands and explain that sometimes the math is not correct.”


The Real Deal (02/01/2013) - Residential Deals

 

Residential deals

February 01, 2013

71 Nassau Street, #3B

Financial District

$670,000

71 Nassau Street, #3B

One-bedroom, one-bath, 685-square-foot unit in a condo conversion, the Croft; building has doorman, roof deck, gym; unit has eat-in kitchen, washer/dryer; common charges $835 per month; taxes $280 per year; asking price $699,000; 40 weeks on the market. (Brokers: Jesse Buckler and Tom Stuart, Bond New York)

 

Jesse Buckler

“The listing was a referral from a friend. The seller wanted a larger apartment. We decided it would be easier [for him to] sell and then move to a rental, because at this point you can’t make a sale contingent on another sale. We ended up doing a direct deal when the buyer came to an open house and didn’t have a broker yet. I was shocked at how many investors [showed interest], but this was a single individual. When he saw it, he said, ‘I am going to buy this.’ One thing that put the co-op board off was the age of the buyer — he was younger. But he is fully able financially to pay for the apartment. He got a traditional mortgage and put a substantial amount down. The closing went well. In fact, the furniture was being moved in during the closing.”

Jesse Buckler, Bond New York

 

104 Wooster Street, #2N

Soho

$5.65 million

104 Wooster Street, #2N

Three-bedroom, three-bath, 3,100 sf condo; building has doorman; unit has keyed elevator, exposed wood beams, central A/C; common charges $2,182 per month, taxes $2,072 per month; asking price $5.59 million; 11 weeks on the market. (Brokers: Jason Saft, Citi Habitats; Jason Karadus, Town Residential)

 

Jason Saft

“The sellers were looking to change scenery and locations; it was more convenient for them to be Uptown. I put the apartment on the market in late October. … I had the world’s greatest stager. She chose great furniture and she really made you want to sit in the space, and I think that’s really key. You don’t want to walk through [3,100] square feet of blank space. Contracts were being drafted with a family who had toured the apartment a number of times, [when] I got a call from [another bidder’s] agent. They wanted it, and could close in two or three weeks. The other buyer couldn’t match the offer. It was practically a record for the building. The buyers were all cash, and board approval was submitted and approved in seven days.”

Jason Saft, Citi Habitats

 

250 East 87th Street, #29J

Upper East Side

$520,000

250 East 87th Street, #29J

One-bedroom, one-bath, 650 sf unit in a doorman co-op, the Newbury; building has roof deck, pool, gym; unit has hardwood floors, granite countertops; maintenance $992 per month; asking price $539,000; two years on the market. (Brokers: Robin Portnoy, Maxwell Jacobs; Sarah Buff, Halstead Property)

 

Robin Portnoy

“I live in this building. When it came time for the seller to list, I was a known entity as an agent in the building, and she called me. She’s a psychologist for a school system outside of Manhattan and that was why she wanted to move. One major obstacle [to selling the apartment] was that the bedroom is very small. A king-size bed would not be feasible. It’s an interesting building that doesn’t really have great comps because the building has lots of amenities [like a pool and a gym] that people don’t really need when they are looking for a starter home. So many people who came to see the apartment got larger apartments for the same price in buildings that were considerably less fancy. We were having difficulty selling. … We found someone, but it took two years! She is a first-time buyer, so to satisfy the board it did require a gift to make sure the liquid assets were there. But I knew, because I have access to the board, what was going to work and what wasn’t going to work. Once the board package was submitted, it took probably two weeks.”

Robin Portnoy, Maxwell Jacobs


New York Post (01/03/2013) - Just Sold!

The New York Times (10/24/2012) - Market Ready

 http://www.nytimes.com/2012/10/25/garden/consider-the-buyer-when-deciding-on-a-hot-tub.html?_r=1&

The New York Times - Market Ready - October 24, 2012


The New York Post (08/23/2012) - Houses of the Week

The New York Times (08/05/2012) - On the Market in New York City

  http://www.nytimes.com/slideshow/2012/08/05/realestate/20120805-OTMNYC.html?ref=realestate#8

New York Times - On the Market in New York City - August 5, 2012


Real Estate Business (07/24/2012) - DIY Home Sale Advocate Cant Do It Himself

 

DIY home sale advocate can’t do it himself

3657 people have read this article
Tuesday, 24 July 2012

Steven Cross

The founder of a website that urges home owners to sell their property without an agent has been forced to give up trying to sell his own home and call in a professional.

Former CEO of ForSalebyOwner.com, Colby Sambrotto, listed his New York condominium through online classified ads and FSBO sites last year. Six months on, however, he opted to hire New York agent Jesse Buckler.

Mr Buckler immediately advised a price change as the listing was not attracting the right buyer.

After giving up on the DIY route, Sambrotto’s decision to hire an agent led to the property attracting multiple offers, closing for $150,000 over the original asking price.

Mr Buckler stressed to Real Estate Business the value that agents can add.

“Agents can negotiate a better price,” he said. “I know what the competition is in the marketplace. I know what the buyer has seen. I have the skills to overcome their resistance. I am not emotionally attached.

“Negotiation is a very direct art and, at times, very indirect – not everyone has it in them.

“It is subtle and powerful and for me, it is not emotional, which is a nearly impossible aspect for homeowners to leave out of the equation, unless they have an agent to get them past that and keep them focused on the goal of selling.”

Mr Buckler said he does not care which home his client buys; he is only concerned with getting the best possible price.

“I always make it clear to my buyers that if this is the home you want, X amount of dollars is what it is going to take to get it. Yes, you may be able to get it for a slightly lower price, but do you want to risk losing it?

“This is where an owner has no footing, no standing with a buyer who walks in off the street. Developing a rapport of this calibre with a buyer is something good agents do rather quickly. What is on a seller’s mind at the first meeting is, ‘I paid X amount for that marble countertop so I am not giving my house away’.”

Mr Buckler also claims that paperwork and legal hurdles can make it too difficult for an owner to sell their home.

“An owner … without [legal] representation is undertaking what can be a long, difficult, and perplexing process. To learn as you go is risky business when you are dealing with the roof over your head.”


The New York Times (06/21/2012) - This Neck of the Woods, Please

  http://www.nytimes.com/2012/06/24/realestate/the-hunt-this-neck-of-the-woods-please.html?_r=1&pagewanted=all

The New York Times  - This Neck of the Woods, Please - June 21, 2012


NY Daily News (04/12/2012) - Best Place of the Week: 140 W. 23rd St.

 

Best place of the week: 140 W. 23rd St.

This apartment with primary-hued walls has oversized windows and high ceilings

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Updated: Thursday, April 12, 2012, 7:58 PM
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New York Post (01/05/2012) - See Flat

 


AGBeat (01/01/2012) - 2011's Genius50 Power Moves


The Real Deal (11/10/2011) - The Real Deal on the town

The Real Deal on the town

Condo the Dillon lures brokers with BMWs at debut of townhouse units November 10, 2011 01:15PM

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From left, Louis Greco, Jr. principal at SDS Procida, Corcoran Sunshine Marketing Group President Kelly Mack and Mario Procida, principal at SDS Procida (credit Richard Lewin)

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The Dillon, a 83-unit condominium at 425 West 53rd Street between Ninth and 10th avenues, rolled out two red carpets for brokers last night to debut its townhouse units and showcase its penthouses (see photos above).

Developed by SDS Procida and marketed by Corcoran Sunshine Marketing Group, the Dillon is 60 percent sold, including one of the nine townhouses, according to a spokesperson for the project. The available units range from a 565-square-foot studio priced at $595,000, to a four-bedroom townhouse spanning 2,750 feet and priced at $4.15 million. The six-story building hit the market in May 2010.
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Nina Freudenberger, founder of the interior design firm Haus Interior, made an appearance to show off the interiors she designed, followed closely by cameras from the HGTV reality television series, "Real Designing Women," on which she will star.

Also on hand was Jesse Buckler, a senior vice president at Bond New York who has appeared on HGTV's "Selling New York," rolling his own cigarettes on the townhouse's Juliette balcony.

The balconies appear to be shared between the units -- a feature that surprised at least one potential buyer, freelance magazine journalist Lois Cahall, who has written for Marie Claire, Bon Appetit and others and, like The Real Deal, made it into the brokers-only soiree. She wondered about the voyeuristic tendencies of the neighbors, later commenting, "If you're feeling frisky you can just bang on your neighbor's door!"

Brokers also fixated on the apartments' walls, hand-painted by New York painter Mark Chamberlain in colorful stripes and honeycomb patterns, as well as the shiny BMWs temporarily on display in the garage meant to show off the underground parking.

Even though the Midtown West location is not "primo," said Billy Briggs, an agent at Prudential Douglas Elliman, the building "has what it takes to move." He pointed out that a three-bedroom duplex on sale for $2.4 million has monthly tax charges of only $302 with a 421-a tax abatement.

"They didn't cut too many corners," he said, declining to elaborate.


Time Magazine (08/17/2011) - FSBO.com Founder Sells Condo - Using Real Estate Agent


AM NY (08/04/2011) - DIY Realty Guru Cant Do It Himself


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