It’s not new to say that the market has shifted: prices are softening across the board and even ultra-hot markets like Clinton Hill, Brooklyn are starting to slow down. Inventory has ticked up and buyer demand has cooled. What does this mean? Well for one, what it doesn’t mean is that the real estate market is dead or doomed or anything so absolute. It means that everyone will have to be a little more strategic, a little more thoughtful about buying and selling, and work a little bit harder.Read More
No, I am not talking about myself.
Although, if you knew me you might say the same thing! Rather, I am talking about the state of the real estate sales market - It’s a strange world out there. One of the proverbial godfathers of my business, Bob Knakal, said of the market earlier this week, “I am confused. I hope we have more clarity by the end of the year, because I’m no more certain where we’re going than I was at the beginning of the year.” While market conditions can never be boiled down to an exact explanation, here are a few thoughts on why it’s so confusing out there!Read More
If there’s one constant that I’ve observed over the years in upward and downward shifting markets, it’s that there’s a disconnect between listing prices and actual market conditions. In an “up” market, sellers and brokers pay too close attention to the comps, eventually pushing prices up caused by bidding wars. In a down market, sellers and brokers still pay too much attention to comps, relying on data of months and years past, which doesn’t accurately reflect what’s happening today.Read More
It’s official: the market has changed. We are consistently seeing prices drop across the board, and the real estate market is no longer “frothy.” Don’t get me wrong - a well-priced apartment in a limited inventory market is still moving, and those open houses are busy. But far and wide, the market has slowed, and as a result both buyers and sellers will need to adjust their strategy.It’s official: the market has changed. We are consistently seeing prices drop across the board, and the real estate market is no longer “frothy.” Don’t get me wrong - a well-priced apartment in a limited inventory market is still moving, and those open houses are busy. But far and wide, the market has slowed, and as a result both buyers and sellers will need to adjust their strategy.Read More
From 2011 through 2015, it was smooth sailing for real estate brokers.
Well... at least on the listing side. The market was very strong: prices continued to appreciate, inventory remained low, and as a result, sellers (and their brokers) had it made. But during this frenzied buying period, the preparation a broker must give to a listing in order to optimize the sale when it goes to market (or rather, the broker's attention to detail, if you will) was lost in the heat of the buyer's market. What does this mean, exactly?
Everyone ALWAYS wants to know - what’s happening in the market? The best response I can give is actually a question back: Well, what market are you in? Are you a buyer, a seller, a renter, or a landlord? There are always opportunities in every market, but the answer is different depending on what type of consumer you are.Read More
Understanding apartment prices in New York CityRead More
How buyers with modest down payments can still make a play in today's marketRead More
Staying on top of the market's subtle yet impactful changesRead More
When investing in New York City, look outwardsRead More