New York Real Estate: A Broker's Notes (December 2016)
Here's a quick run-down of some common thoughts I've been sharing with my clients lately.
If you have any real estate questions or needs please reach out- or even if you want to just meet for coffee and catch up!
It's a Value-Driven Market
Competitive pricing attracted 11 offers on a 2-bedroom apartment at 119 West 71st Street within 2 weeks of listing- 9 of which were above asking price- and we went into contract December 1st.
Buyers are out in the market! However- they are very price sensitive- especially with higher interest rates and a new incoming administration. Pricing correctly to sell is paramount in the market today.
Historical Interest Rates
e remain in a very attractive market despite increasing interest rates, and often a bit of historical perspective comes in handy. NYC real estate has been a solid investment even in times when interest rates were more than double what they are today.
Strong Stock Market
Right now the market is pretty strong, and whether your bullish or bearish on where it's headed, you'd be wise to consider buying right now if long-term investment is an option for you and your family.
Recent Features on MikeLubin.com
This gracious three bedroom home offers flexible space for comfortable living in impeccable taste and style. Every room is grand in scale: beginning with a dramatic entrance gallery that leads to a sunny, west facing living room. There are two bright master bedrooms also facing west with baths en suite as well as a large third bedroom or study.
The windowed open and loft-like kitchen and dining room have undergone a meticulous renovation and is in immaculate, new condition and includes a Miele dishwasher, BlueStar oven range, Liebherr refrigerator, and honed granite counter tops and a built in wine fridge. There is also a vented Bosch washer/dryer in a designated laundry closet.
It's my pleasure to share my notes and listings with you on MikeLubin.com, and as always there's lots of other good stuff to see if you poke around on here!
If you have any real estate questions or needs just click below :)