New York Values #5 - Guns

My first New York Value lauded the civic engagement of schoolchildren, specifically their work getting an honorary street named for Elizabeth Jennings. And now, starting with the Parkland survivors, we are seeing massive nationwide civic engagement in kids/teens regarding gun control. 

I had to write about guns this week, because on Saturday NYC was home to one iteration of the March for our Lives, with hundreds of thousands in attendance. I was too busy recovering from a stomach flu to go cry-march with everyone, but I was still inspired by the vast showing of support. Anyone who knows me knows where I stand on guns, but this isn’t about me. It’s about this city’s long history of successful gun control reform having a lasting, positive effect on its populous. 

In 1911, a murder near Gramercy Park moved the state congress to pass New York State’s Sullivan Law, which required residents to obtain a police-issued license for any “concealable firearm.” The law made carrying a concealed weapon without such permit a felony. It was the FIRST of its kind and has been the blueprint for similar laws throughout the country. 

This article has a very interesting breakdown of the whole inception of the bill and how it was really spearheaded by a gangster as well as a lawmaker! https://cityroom.blogs.nytimes.com/2011/01/23/100-years-ago-the-shot-that-spurred-new-yorks-gun-control-law/

The real power of this law, though, is the strictness with which it is enforced. Even if you pass a background check and meet the permitting criteria, law enforcement can still deny you a weapon. I’m not going to get deep into the second amendment debate, but it does not grant citizens carte blanche to own weapons; that’s a complete misreading of the law. You’re entitled to apply for the permit, but not entitled to be accepted. Why do you want a gun here, anyway? To hunt rats and pigeons? Just go to a range and shoot their guns; it’s still fun!

There was a drive-by shooting two doors down from me when I first moved to my apartment, and it was terrifying. I am incredibly grateful that it is not more common largely because of the barriers to gun ownership that exist here. Thanks, New York, for being ahead of the curve and keeping me safe.

(Note: After the Sandy Hook shooting, NY passed the SAFE Act, banning outright all assault weapon sales in the entire STATE.)

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The real estate value today is perhaps self-justifying, but it’s to clarify something that has come up a couple times recently. 

You really cannot work with two unrelated RE agents, because one of them is going to end up getting forced out. It happens a lot: your mom knows someone and your friend knows someone or you know someone and your roommate knows someone so you reach out to both. And they both send you listings and put in time, show you around, etc. And you kind of just go along with it until you end up deciding on a place, telling the other agent that you’re all good now and they can stop the search on their end. 

It’s like shitty dating. You’re seeing someone and it seems to be going well, you’re getting more invested, and then all of a sudden they tell you they’re getting back together with their ex, or they met someone else they really like. And you’re left FOREVER ALONE. 

This is also why many agents aren’t particularly excited about tenant-side rentals. At least in a sales transaction one broker is guaranteed to be part of the final deal, and it’s explicitly stated that you should only work with one agent at a time. But in the free-wheeling rental world there are all kinds of communal living or leasing agency options, so not only are some clients working with an array of agents, they’re also exploring other options on their own. It doesn’t feel great to spend a bunch of energy on something only to be told you’re no longer needed! At least if a boss fires you he has to pay you two weeks severance on top of what you’ve gotten for “time served.” In this industry, that’s not a thing. 

This isn’t a lecture or me complaining about my position. Instead, it’s a call to both sides to make sure expectations are laid out early on. As non-agents, if you are up front with anyone you consider working with about all the potential inevitabilities, that person can weigh their options and know what they’re getting into. They should do it on their end as well, but by being smart, savvy consumers, you can take the first step and also impress any potential agent with your awareness. Plus you’ll get the best from anyone you work with because you’ll be an absolute DREAM client!

As always, direct questions to anna.klenkar@compass.com, and I’ll be back next week!

New York Values #1 - Elizabeth Jennings

Because I thrive on content creation, especially about the city I’ve grown to love so intensely, I’m beginning a weekly column of sorts called New York Values, a play on the insult lobbed at us metropolitan folks by those who want to paint urban dwellers as Godless and out-for-themselves. In reality, nothing could be further from the truth, and I’ve seen at least as much behavior that would make Jesus (or whomever) proud here as in my time spent living in rural Virginia or traveling through devout lands.

Because I do real estate now, it’s going to also include another “value”: a listing, tip, or fact about renting/buying/selling that I’ve learned on the other side of the looking glass. Who doesn’t like learning or looking at pictures of gorgeous apartments? Weirdos, that’s who.

And, because it’s me, this first post is about a strong woman standing up to some bigotry.

Portrait of Elizabeth Jennings in 1895, courtesy of Listverse

Inspired by NY Times New York Today, Feb 22, 2018:

One summer morning in 1854, Elizabeth Jennings, a young black schoolteacher, was headed to play the organ at her church. She hailed a horse-drawn streetcar; the conductor didn’t want to let her in because of her race, but she prevailed by jumping in and hanging onto the window frame when he tried to forcibly remove her.

He got the police involved and an officer pushed her out of the streetcar. But she was able to find a lawyer, future president Chester A. Arthur, to help her sue the streetcar’s operator, winning her $225 in damages and creating a precedent that allowed African-Americans to take any public transportation provided they were “sober, well behaved, and free from disease.”

This led to the city’s public transportation becoming largely desegregated within five years. And now, over a century later, the subway boasts an impressive diversity, with its passengers uniformly opposing the intoxicated, poorly behaved, and/or diseased (looking at you, person who gave me the flu on the A train).

Corner of Pearl & Chatham St. where Jennings hailed the streetcar, courtesy of NYHS

Obviously this was a long time ago and doesn’t speak to the current character of the city, but a few things do.

1. This was spotlighted by the New York Times in 2018; they do a daily NY news blast and it’s often focused around a personal interest story about a community activist. It’s probably where a fair amount of these little articles will originate, and it’s a nice way to start your day before you cram onto a crowded train to smell someone’s breath for 30 minutes #doweneedtobetouching.

2. In 2007 the city put up a sign reading Elizabeth Jennings Place on a street corner blocks from where she made her stand. There are spots like this all over NY, with roughly 1,600 honorific street names immortalizing people like musicians, activists, and religious leaders. Who’s Godless now?

3. The reason this street was honorifically named? A group of third and fourth graders at nearby P.S. 361 were so moved by her story that they asked the city. It took them a year, but through petitions, meetings, and a campaign of pressuring local officials, they made it happen. If I had learned this valuable civics lesson at 9 years old I would be way more excited about government.

Elizabeth Jennings Place, courtesy of Narrative Network

And now for the real estate part: fun mortgage info!

Did you know that nationwide people are speculating about how the impending mortgage rate hike will affect the RE market? Did you know that some agents are very stressed about how this will affect their business? Did you know that I am zero percent concerned because people will always buy homes and I do not yet have a consistent income I’m afraid to lose?

However, as my senior broker Joe Quiros likes to say, “You don’t live in in the PRICE; you live in the PAYMENT.” So, for every percent the rates increase, your monthly mortgage payments on a 30 year loan increase 12%. Essentially what this means is that while people will not stop buying, their dollar will not go as far, because the same priced apartment will now cost them 12% more per month than if they had locked in earlier.

For example, for every $100,000 borrowed at 5% interest, you owe $59.40 per month MORE than you would at a 4% rate. That's not a huge difference on a small loan, but NY loans are often sizable, meaning this scales to more like $500/month additional.

If you have any questions about this, send me a message and we can talk numbers. And if this inspires you to GO BUY IMMEDIATELY, then I am clearly an incredible salesperson and we can work together.

There you go, it’s your first NEW YORK VALUE!!! I’ll see you back here next week with another little essay about how awesome NY is and how we are not all giant assholes; we just walk quickly and don’t like things in our way.

<3

Anna