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Yes. In 10 years everyone is going to wish they had stuck it out and bough property in the down turn just like after 9/11. the dot com crash and the last recession.
Yes. In 10 years everyone is going to wish they had stuck it out and bough property in the down turn just like after 9/11. the dot com crash and the last recession.
Posting so I can return and say ' I told you so!'
You know, I haven't seen any decline in listing prices for the outer boroughs. Or at least I haven't noticed.
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"The man who sleeps on the floor, can never fall out of bed." -Martin Lawrence
There are cities which are ranked as Global cities/Economic power houses/Alpha cities.
At the top sits New York. Others include Tokyo, London, Hong. Kong Paris and Shanghai. If New York is doomed so are all the others as we have more draw and industries here. It is more than just work from home. It is the ability to network and wheel and deal that drives wealth.
Alot can be accomplished remotely. However there are reasons company will fly exec private or first class to NYC for one day for a business meeting that could easily be accomplished over zoom
There is a reason your chances of running into a billionaire/multi millionaire are so high if you live here.
Cross the bridges to leave the city and your odds of meeting one drops by 50% immediately!
You know, I haven't seen any decline in listing prices for the outer boroughs. Or at least I haven't noticed.
The real estate market is red hot. I listed a property for more than $200K than I would ever think to sell for as I haven't owned it that long. Within 1 hr of listing I already had viewings lined up for qualified buyers.
I instructed my realtor no open houses, no signs. No lookie loos. Only pre qualified buyers vetted by their agents.
I put in multiple officers on 2 houses recently and the cash offers that were beating my offer were insane! Usually cash offers use that as leverage to get a better price.
I also speak to other realtors, real estate property owners and business people and there are many things in the works that lets me know that long term NYC will be returning with a vengance!
Yes. In 10 years everyone is going to wish they had stuck it out and bough property in the down turn just like after 9/11. the dot com crash and the last recession.
The real estate market is red hot. I listed a property for more than $200K than I would ever think to sell for as I haven't owned it that long. Within 1 hr of listing I already had viewings lined up for qualified buyers.
I instructed my realtor no open houses, no signs. No lookie loos. Only pre qualified buyers vetted by their agents.
I put in multiple officers on 2 houses recently and the cash offers that were beating my offer were insane! Usually cash offers use that as leverage to get a better price.
I also speak to other realtors, real estate property owners and business people and there are many things in the works that lets me know that long term NYC will be returning with a vengance!
A lot of people came up on that stock market/crypto heavy over the last year as well
Add in that YouTube money
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"The man who sleeps on the floor, can never fall out of bed." -Martin Lawrence
We are off loading a property. Hoping to pick up two in Brooklyn by end of this year /mid next year when everyone is apprehensive. We bought in the middle of the the last recession and that is what gave us the start that we needed when the market bounced back and we sold.
Everyone then said we should wait because the market was going to tank/never recover.
A lot of people came up on that stock market/crypto heavy over the last year as well
Add in that YouTube money
Seems so. Too much crazy money in the market. We bought a property out of state (got a good price that is the only reason we are buying and sitting on it for now). The houses all around were $1 to $2 million. They were going pending within 3 weeks! This is an area where 15 years ago you could buy for $300K.
Something is up in the market. Many are also cash buyers so it's not like the last time when people were unqualified.
The last time we sold an elderly couple paid full price, cash within the first 2 weeks of listing. The most unassuming people are buying up houses.
Correct. When I told a co-worker I was listing it he said no one will ever buy it because it is overpriced and he is waiting for the a market to soften again. ( He still was scared after the recession lol) He is still renting and we have bought 3 houses since lol.
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