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Dottie Herman, CEO - Prudential Douglas Elliman Real Estate (New York)
Dorothy Herman, Dottie, is the quintessential New York success story. In only two decades, she climbed to the pinnacle of the housing industry – CEO of Prudential Douglas Elliman (www.prudentialelliman.com), the #4 ranked real estate company in the United States.
Today, under her leadership, Prudential Douglas Elliman is the top ranked residential brokerage in the nationwide network of Prudential Real Estate Affiliates, with over 3,800 real estate professionals and 675 employees working in more than 60 offices in Manhattan, Brooklyn, Queens, Long Island, the Hamptons and the North Fork.
Dottie created a company that serves the customer’s every real estate need. In addition to leading New York’s largest residential real estate brokerage and rentals, she also controls a portfolio of real estate services, including commercial and retail leasing and sales, relocation and settling in services, new development consulting and also Manhattan’s largest residential property manager, Douglas Elliman Property Management, as well as PDE Title, and DE Capital Mortgage.
Dottie began her career on Long Island, and purchased Prudential Long Island Realty in 1989. After turning the company into the powerhouse brokerage operating on Long Island and in the Hamptons, she purchased Douglas Elliman, Manhattan’s largest and most prestigious brokerage firm, with her partner Howard Lorber in 2003. Since then, Prudential Douglas Elliman has become the largest and fastest-growing real estate firm in New York, stretching from Manhattan to Montauk.
In recognition of her leadership in the industry, Dottie was named one of the 100 Most Influential Women in New York for 2007 by Crain’s New York Business. She was honored by Adelphi University as the 2007 Outstanding Executive on Long Island and was invited to participate in the Festival of Thinkers held in Dubai and Abu Dhabi in 2007. Dottie took a leadership role in this year’s Cutting Through the Red Tape: Building Long Island Today and is a long time supporter of the American Heart Association, the Tilles Center for the Performing Arts, the Southampton Hospital, and the North Shore Long Island Jewish Hospital.
Dottie is also an honored contributor to The Sunrise Fund at Stony Brook University Medical Center, a program established to raise awareness and funds for pediatric oncology programs. In the summer of 2008, Dottie was honored at the 12th Annual Heart of the Hamptons Gala, receiving the Distinguished Community Leadership Award for her continual support and contributions.
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Posted by Dottie Herman 03/19/10 9:00 AM
Dottie Herman Q1 - I just saw a home online that I fell in love with- however, apparently when I called the broker they said they had an accepted offer. How can I get in to see the property? Or... Read More
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Posted by Dottie Herman 03/12/10 8:30 AM
Dottie Herman Q1 - I am trying to sell my home and move to a larger home as we are expecting our third child. We just received a decent offer for our home; however, we haven't had a chance to... Read More
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Posted by Dottie Herman 03/05/10 8:15 AM
Dottie Herman Q1 - I just received an offer on my home that is 60,000 under my asking price. I am really torn as to what to do as I countered and the people didn't come up at all. My... Read More
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Posted by Dottie Herman 02/26/10 8:30 AM
Dottie Herman Q1 - How would I go about taking equity in my home? There are some improvements I want to make but I have only lived in the house for a few months? Do I have to live here... Read More
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Posted by Dottie Herman 02/19/10 8:00 AM
Dottie Herman Q1 - I want to sell my house and downsize. Our children are no longer living with us and my wife and I do not need as much space as we have. Some people say we should... Read More
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Posted by Dottie Herman 02/12/10 8:17 AM
Dottie Herman Q1 - My family and I are relocating but I am not able to come up to Connecticut for a few weeks. Can you please suggest how I can do preliminary research in advance of actually visiting the... Read More
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Posted by Dottie Herman 02/05/10 8:15 AM
Dottie Herman Q1 - I am thinking of buying a home- my parents are going to have to contribute a lot of money toward my down payment, do I have to disclose that? Does it matter? A - Yes, if... Read More
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Hamptons Home Sales Surge 22.9% in Q4, Reports Prudential Douglas Elliman
Posted by Dottie Herman 01/29/10 1:22 PM
(NEW YORK, NY) - The median sales price of an East End residential property was $701,161 in the fourth quarter, 1.6% higher than $690,000 in the same period last year and 0.2% above $700,000 in the prior quarter. This is the first year over-year increase in median sales price since the first quarter of 2008. Read More
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Posted by Dottie Herman 01/29/10 8:15 AM
Dottie Herman Q1 - I am looking to purchase a home and I have an offer on one house in Long island. The homeowner is had an Open House this weekend because it was scheduled and we made our offer... Read More
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Prudential Douglas Elliman Reports Queens Q-4 Market Stats
Posted by Dottie Herman 01/27/10 1:10 PM
(QUEENS, NY) -- The number of sales continued to rise sharply in the fourth quarter, resulting in more sales than the prior quarter and prior year quarter and more than twice the levels seen in the first quarter of 2009. There were 4,260 sales in the fourth quarter, ... Read More
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Posted by Dottie Herman 01/22/10 8:30 AM
Dottie Herman Q1 - I am thinking of buying in NYC. My husband works in Long island and I work in Manhattan. I am very unsure about what area I should buy in- any tips for how to decide?A -... Read More
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Prudential Douglas Elliman Reports Manhattan Q-4 Rental Market Stats
Posted by Dottie Herman 01/15/10 9:00 AM
(NEW YORK, NY) -- All rental price indicators, excluding concessions, were below levels seen in the same period a year ago, but showed signs of stability since the prior quarter. Rental price per square foot was $47.02, ... Read More
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Posted by Dottie Herman 01/15/10 8:15 AM
Dottie Herman Q1 - I was thinking of buying my first home- I got pre-qualified for a loan, and now after I put an offer in on the house I can't get a mortgage. How is that possible if... Read More
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Posted by Dottie Herman 01/08/10 8:15 AM
Dottie Herman Q1 - Is it true that if my wife and I make an extra mortgage payment each year on our home we can decrease the life of our loan? Does it really make that much of a difference... Read More
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Prudential Douglas Elliman Reports Manhattan's Q-4 Market Stats
Posted by Dottie Herman 01/06/10 8:00 AM
(NEW YORK, NY) -- There were 2,473 sales in the current quarter, up 8.4% from the 2,282 sales in the prior year quarter and up 10.9% from the prior quarter. This level of activity was more than twice the 1,195 sales seen in the first quarter of 2009, ... Read More
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Posted by Dottie Herman 01/01/10 8:30 AM
Dottie Herman Q1 - My husband and I are hoping to close on our home soon. We haven't received a commitment yet from a bank for a mortgage and we are getting concerned that they won't approve us. If we... Read More
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Posted by Dottie Herman 12/24/09 8:15 AM
Dottie Herman Q1 - My wife and I are looking to buy a home and we have been hearing people talk about a buyer's agent. What exactly is a buyer's agent and what is their role and who pays this... Read More
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Posted by Dottie Herman 12/18/09 8:30 AM
Dottie Herman Q1 - My wife and I are looking to buy a home in Pennsylvania. We are working with a broker and finally found a house we love. We negotiated a price with the seller and they accepted our... Read More
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Posted by Dottie Herman 12/11/09 8:15 AM
Dottie Herman Q1 - My house has been on the market for 15 months. At first I admit I did price the home too high and finally reduced my price by $100,000 but I still haven't received any offers. Does... Read More
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Posted by Dottie Herman 12/04/09 8:15 AM
Dottie Herman Q1 - My husband and I recently purchased a home. We took an ARM at 4.875%; however, now that the rates for a 30 year fixed are as low as our ARM should we refinance and take the... Read More
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Posted by Dottie Herman 11/27/09 8:00 AM
Dottie Herman Q1 - I am refinancing and an appraiser is going to come by. What does the value of property they come up with mean, exactly?A - The appraiser is estimating the market value of your home. Market value... Read More
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Posted by Dottie Herman 11/20/09 8:15 AM
Dottie Herman Q1 - I currently live on Long Island. I have two mortgages on my home and I would like to combine them. How do I do this?A - When you refinance to combine both loans into one there... Read More
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Posted by Dottie Herman 11/13/09 8:00 AM
Dottie Herman Q1 - We just heard that there is a new tax credit that is different from the $8000.00 for first time buyers. So if my wife and I decide to move out of our home and trade up... Read More
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Posted by Dottie Herman 11/06/09 8:15 AM
Dottie Herman Q1 - My wife and I are looking to purchase a home and are unsure about these tax credits. We hope the first time homebuyer tax credit is extended, but what is this other credit we are hearing... Read More
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Prudential Douglas Elliman Reports Brooklyn Q-3 Real Estate Market Stats
Posted by Dottie Herman 10/30/09 10:26 AM
(BROOKLYN, NY) -- The number of sales for the quarter surged for the second consecutive quarter, rising 29.3% to 1,847 units from 1,428 units in the second quarter. Despite the increase in activity, the number of sales were 19.6% below the 2,298 number of sales in the prior year quarter. Read More
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Posted by Dottie Herman 10/30/09 8:00 AM
Dottie Herman Q1 - My wife and I fell in love with a home in New Jersey. Next door is an abandoned house that is not visually attractive. We are very torn as we assume that would decrease our resale... Read More
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Prudential Douglas Elliman Releases Long Island Q-3 Real Estate Report
Posted by Dottie Herman 10/27/09 8:00 AM
(NEW YORK, NY) -- There were 5,603 sales in the third quarter, 41.6% higher than the 3,956 sales of the second quarter and 5.9% higher than the same period last year. This was the first time in the past year the number of sales increased over the prior year quarter and only the second time since the beginning of 2007. Read More
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Posted by Dottie Herman 10/23/09 8:15 AM
Dottie Herman Q1 - My husband and I are first-time buyers and want to buy a house on Long Island- we are not set on a specific neighborhood and we are unsure where to begin. Where do you suggest we... Read More
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Prudential Douglas Elliman Releases Hamptons and North Fork Q-3 Market Report
Posted by Dottie Herman 10/23/09 8:00 AM
(NEW YORK, NY) -- Listing inventory expanded 21.5% to 2,419 units from 1,991 units in the prior year quarter and 5.8% higher than the 2,286 units in the prior quarter. The jump in the number of sales over the summer prompted many sellers to return their listings to the market. Read More
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Prudential Douglas Elliman Reports Manhattan Rental Market for Q3
Posted by Dottie Herman 10/16/09 1:34 PM
Rental activity experienced late surge in activityRental price indicators mixed (NEW YORK, NY) -- The average rent per square foot was $47.84, down 9.4% from $52.80 in the prior year quarter; however, there was an increase of 8.3% from the... Read More
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Posted by Dottie Herman 10/16/09 8:00 AM
Dottie Herman Q1 - My husband and I are trying to sell our home. We have three children and the apartment can often get messy. Does that matter to buyers? Some people say they are not purchasing our things... Read More
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Prudential Douglas Elliman Reports Brooklyn Q3 Market Data
Posted by Dottie Herman 10/15/09 1:35 PM
(NEW YORK, NY) -- The number of sales for the quarter surged for the second consecutive quarter, rising 29.3% to 1,847 units from 1,428 units in the second quarter. Despite the increase in activity, the number of sales were 19.6% below the 2,298 number of sales in the prior year quarter. Read More
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Posted by Dottie Herman 10/09/09 8:00 AM
Dottie Herman Q1 - My wife and I are looking to purchase our first home and we are going to begin to shop for a loan. Is there a difference between a pre-approval and a pre-qualification? A - There is... Read More
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Prudential Douglas Elliman Releases Q3 Manhattan Market Report
Posted by Dottie Herman 10/06/09 8:00 AM
(NEW YORK, NY) -- The median sales price of a re-sale apartment in Manhattan fell 8% to $750,000 from $815,000 in the prior year quarter, but was 3.4% above the prior quarter median sales price of $725,000. Read More
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Posted by Dottie Herman 10/02/09 8:00 AM
Dottie Herman Q1 - My husband and I have been looking for houses for about 8 months. We have put in a number of bids, and haven't had any accepted offers yet. What are we doing wrong? We thought we... Read More
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Posted by Dottie Herman 09/25/09 7:30 AM
Dottie Herman Q1 - My husband and I bought our first home in four years ago. We both have good credit scores and we thought we were getting a good rate of 6.75 for a 30 year fixed mortgage. Since... Read More
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Prudential Douglas Elliman Releases Long Island Market Overview for Q2
Posted by Dottie Herman 07/29/09 8:00 AM
(LONG ISLAND, NY) -- The number of sales fell 32.7% to 3,956 from 5,874 in the same period last year, but increased 37.7% from the prior quarter total of 2,872. The jump in number of sales was consistent with seasonal trends as this period has averaged a 35.4% increase in the prior 5 years. Read More
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Prudential Douglas Elliman Releases Hamptons / North Fork Market Overview for Q2
Posted by Dottie Herman 07/24/09 1:45 PM
(NEW YORK, NY) -- There were 307 sales in the current quarter, 43.3% below the 541 sales in the prior year quarter but, 52.7% higher than the 201 sales in the prior quarter. Read More
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Prudential Douglas Elliman Queens Market Overview Q2 2009
Posted by Dottie Herman 07/21/09 8:00 AM
(NEW YORK, NY) -- The average sales price of a Queens property that closed during the quarter was $396,756, down 11.5% from the $448,397 average sales price during the same period last year. Following the same pattern, median sales price for the second quarter was $362,000, down 13.8% ... Read More
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Prudential Douglas Elliman Brooklyn Market Overview Q2 2009
Posted by Dottie Herman 07/20/09 8:00 AM
(NEW YORK, NY) -- There were 1,428 sales in the second quarter, 29.7% below the 2,031 sales in the prior year quarter. Sales jumped, however, 20.4% from the prior quarter total ... Read More
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Prudential Douglas Elliman Releases Manhattan Rental Market Overview for Q2, 2009
Posted by Dottie Herman 07/13/09 8:00 AM
(NEW YORK, NY) -- There were 2,346 rentals in the second quarter, down 58.3% from the 5,624 units of the same quarter last year, but up 2.4% from the 2,290 units in the prior quarter. Read More
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Prudential Douglas Elliman Releases Manhattan Market Overview for Q2, 2009
Posted by Dottie Herman 07/06/09 11:12 AM
(NEW YORK, NY) -- There were 1,532 co-op and condo sales in the current quarter, 50.3% below the 3,081 sales of the prior year quarter but up 28.2% from the prior quarter. Over the prior decade, the increase in number of sales ... Read More
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Prudential Douglas Elliman Long Island Market Overview Q1 2009
Posted by Dottie Herman 04/27/09 11:15 AM
(LONG ISLAND, NY) -- The median sales price of a Long Island property was $355,000 in the current quarter, down 13.3% from ... Read More
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Prudential Douglas Elliman Hamptons-North Fork Market Overview for Q1 2009
Posted by Dottie Herman 04/24/09 8:51 AM
(NEW YORK, NY) -- There were 201 sales in the first quarter, down 49.8% from 400 sales in the same period last year and 72.9% from the same period five years ago, which had 742 sales. Read More
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Prudential Douglas Elliman Queens Market Overview Q1 - 2009
Posted by Dottie Herman 04/20/09 4:45 PM
(QUEENS, NY) -- Although the number of properties available for sale declined 7% to 10,421 from 11,206 listings in the same period last year, inventory expanded 6.1% from the prior quarter total of 9,822. Read More
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Prudential Douglas Elliman Brooklyn Market Overview Q1 - 2009
Posted by Dottie Herman 04/16/09 5:00 PM
(BROOKLYN, NY) -- Unlike its Manhattan counterpart, the decline in price indicators in Brooklyn, specifically the resale median sales price, showed a more modest decline. Read More
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Prudential Douglas Elliman Manhattan Real Estate Market Overview For Q1 2009
Posted by Dottie Herman 04/02/09 9:55 AM
(NEW YORK, NY) -- Last fall's rapid change in market conditions established a new housing market that reflected a lower level of activity and a reset of housing prices. The tipping point which occurred last September was largely triggered by the bankruptcy of Lehman Brothers and federal bailouts of ... Read More
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Prudential Douglas Elliman Releases 10-Year Manhattan Townhouse Report
Posted by Dottie Herman 03/10/09 4:03 PM
(NEW YORK, NY) -- New records reached for all price indicators. The annual median sales price of a Manhattan townhouse was a record $4,995,000 this quarter, up 59.8% from the prior year median sales price of $3,125,000. Average sales price showed the same pattern, rising 58.3% to a record $7,372,987 from $4,658,155 over the prior year. Read More
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Prudential Douglas Elliman Releases Hamptons & North Fork 10 Year Market Reports
Posted by Dottie Herman 03/06/09 1:24 PM
(NEW YORK, NY) -- East End price indicators peaked in 2007 with an average sales price of $1,576,050. Over the past decade, which included two recessions, the overall average sales price increased 256% to $1,494,472 in 2008 from $419,817 in 1999. Median sales price also increased, up 183% over the same period, ... Read More
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Prudential Douglas Elliman Real Estate Releases 10-Year Manhattan Market Report
Posted by Dottie Herman 03/04/09 5:44 PM
(NEW YORK, NY) -- Despite weakening market conditions in the second half of 2008, all three price indicators trended higher this year, each setting records. The average sales price for a Manhattan apartment was $1,591,823 this year, up 17.8% from the $1,351,621 average sales price record set in 2007. Read More
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