Manhattan real estate market 2007
I have not posted on here since Christmas eve. I've written some posts on my other blog Mitchell's Manhattan blog estate. Neighborhood market reports about Chelsea, Greenwich Village and Harlem. I will be doing some on here as well. Hope everyone had a great holiday. It's back to work for me not that I had a big holiday break. I have been busy showing apartments since right before Christmas.
The market is now buzzing with activity. Buyers are out buying. Accepted offers, bidding wars, best and final offers.
Is it De Ja Vu ?
Everyone has been predicting it with the Wall Street bonuses and all.
Bubble? I haven't heard that word in a while. Interest rates are pretty low.
From my observation in the trenches with buyers since right before Christmas I started feeling it. I was busy the week between Christmas and New Year. Last Saturday and Sunday I really really felt it. Buyers were out and they were making offers.
I took a buyer last Thursday to see an apartment listed at $599K The listing Broker said they would take $560,000. We went back over the weekend and the place was hopping. My buyer made an offer but they already had a higher bid.
An apartment that just came on the market Monday on the Upper West Side that I wanted another buyer to see this coming Sunday is already going to best and final offers above the asking price this Friday.
Last weekend it was 70 degrees - could it be the spring season? Actually January has always been a very busy month in Manhattan because of the bonuses. Today it's freezing so maybe we are back to normal.
While I don't have any scientific data. I just know what I see. I have noticed a turn. My office has been buzzing as well.
From pre-war coops to new construction IMHO the Manhattan market is HOT!
Seller's if you've been waiting now is a good time to sell because buyers are buying. Buyers if you've been waiting for prices to fall you might miss some good opportunities. Now is a good time to buy and sell.
The market is now buzzing with activity. Buyers are out buying. Accepted offers, bidding wars, best and final offers.
Is it De Ja Vu ?
Everyone has been predicting it with the Wall Street bonuses and all.
Bubble? I haven't heard that word in a while. Interest rates are pretty low.
From my observation in the trenches with buyers since right before Christmas I started feeling it. I was busy the week between Christmas and New Year. Last Saturday and Sunday I really really felt it. Buyers were out and they were making offers.
I took a buyer last Thursday to see an apartment listed at $599K The listing Broker said they would take $560,000. We went back over the weekend and the place was hopping. My buyer made an offer but they already had a higher bid.
An apartment that just came on the market Monday on the Upper West Side that I wanted another buyer to see this coming Sunday is already going to best and final offers above the asking price this Friday.
Last weekend it was 70 degrees - could it be the spring season? Actually January has always been a very busy month in Manhattan because of the bonuses. Today it's freezing so maybe we are back to normal.
While I don't have any scientific data. I just know what I see. I have noticed a turn. My office has been buzzing as well.
From pre-war coops to new construction IMHO the Manhattan market is HOT!
Seller's if you've been waiting now is a good time to sell because buyers are buying. Buyers if you've been waiting for prices to fall you might miss some good opportunities. Now is a good time to buy and sell.
I think that the real estate market is very slow in NYC. To help us unload our unsold condo's, we used public relation consultants(lastlifeboat.com). They are an outside real estate consulting company for developers. They revamped and repackaged everything and finally we were able to sell.
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