NYC Apartment Agent

New York real estate + beyond

Economic Outlook Emboldens NYC Buyers

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NYC Apartment Agent: Economic Outlook Emboldens NYC Buyers

NYC Apartment Agent: Economic Outlook Emboldens NYC Buyers

While September was characterized by fear over the economic fluctuations, brokers said, buyers in the last few weeks have started to make decisions faster (although foreign buyers reeling from the debt crisis continue to wait on the sidelines). Brokers also noted that lowball offers gained little traction and bidding wars started anew at some properties. — “Volatile, shmolatile: Serious buyers not deterred by market’s ups and downs,” The Real Deal, Nov. 1, 2011

NEW YORK — First of all, many of us are still dealing with the remains of the Nor’easter that hit the East Coast this Halloween weekend, and I wish you all the best and hope you are warm and safe.

As we all know, the real estate market is a moving target reacting to the perception that buyers and sellers have of the economy. When the evening news talks about the S&P downgrade and the jobless reports shows little growth, there is a sense on the street that now is not the time to buy. When sales get slow, rentals get busy.

So, in August and September, this negative news meant that the rental market sizzled.

Since then, the news from Wall Street has been positive, the markets are up, October was a strong month for stocks, interest rates are still at historic lows and the perception on the street is that now is a good time to buy.

For us at Bond New York, October was a strong month for our sales division, and we remain highly optimistic of continued growth in November.

Below is an interesting article speaking more about the perception of buyers and sellers. I hope you enjoy it as much as I did.

And, as always, if you or anyone you know is thinking about buying, selling or renting property in New York, please let me know.

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One Response

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  1. […] report supports the trend of serious New York buyers remaining undeterred in forging ahead, especially as interest rates are low and still feeling downward […]


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