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It's not because of the Covid. I am looking into relocating because hey, I am getting older and I want warmer weather. It's up to my wife and daughter who both love NYC. I would like to not to be exposed to extreme weather.
Oh ok, I guess I misunderstood. I hope it works out as you want for your and your family.
I asked this on another thread, but has there been anyone responding or reading this who wasn't contemplating leaving before the virus that are now? So far anecdotally, it seems like the current situation is providing a push for those halfway out the door anyway, rather than a reason in and of itself for people to leave the city. I still think it's extremely likely that real estate prices will fall significantly, because of job losses, and the fact that NYC real estate is looking much less appetizing for investors overall right now. Lower prices will be a small silver lining for people looking to buy but locked out of the market previously.
Spoke to my agent yesterday. He has a lot of experience running one of the larger firms on Staten Island. He laid out a whole case for me as to why he doesn’t believe real estate on Staten Island will drop much if at all and told me May 15th is the date to put my home on the market if we decided to do it. So we have a lot to consider now over the next three weeks.
Everything is up in the air right now. Can you briefly tell us what your realtor said? I live in the New Dorp - Oakwood area and I and my neighbors are still getting postcards from realtors in Brooklyn and SI looking for homes on SI. Perhaps once the current crisis passes the less-dense quiet outer borough neighborhoods of SI, Queens and the Bronx will be more popular with homebuyers. Don't panic sell!
Why would "your" salesman of an agent say anything negative about the state of the real estate industry aka his livelihood? The feds are kicking the can down the road when it comes to real estate all the while printing money out of thin air. Will real estate crash like oil? Highly doubt it. But to make an idiotic statement saying business as usual is irresponsible of him to say the least. "Your" agent doesn't care about you. He cares about himself. I do agree that the time to cash out is now. Only problem is you'll need luck to find a buyer at the right price. Otherwise you'll be stuck here for the next decade unless you want to sell at a loss.
To quote an attorney I used to work with "real estate agents are the scum of the earth". They only care about their commissions.
I'm sure there are a few good ones (I actually like the one I used to get my current apartment, but it was not worth paying her one month rent for showing me the place)...but they are few and far between
To quote an attorney I used to work with "real estate agents are the scum of the earth". They only care about their commissions.
I'm sure there are a few good ones (I actually like the one I used to get my current apartment, but it was not worth paying her one month rent for showing me the place)...but they are few and far between
I don’t care for real estate agents either but what are they suppose to care about besides commissions?
The whole point for anyone doing that work, is for the commissions.
Why would "your" salesman of an agent say anything negative about the state of the real estate industry aka his livelihood? The feds are kicking the can down the road when it comes to real estate all the while printing money out of thin air. Will real estate crash like oil? Highly doubt it. But to make an idiotic statement saying business as usual is irresponsible of him to say the least. "Your" agent doesn't care about you. He cares about himself. I do agree that the time to cash out is now. Only problem is you'll need luck to find a buyer at the right price. Otherwise you'll be stuck here for the next decade unless you want to sell at a loss.
You are right to be suspicious, but the fact is he either produces or I don’t sell, so it really doesn’t matter what he says. I’ve ensured that in all aspects of my life I’ve put myself in positions where I cannot be forcee by others to make decisions. Ultimately, it’s up to me.
That said, I’d rather stick with someone who is optimistic than to find an agent who says, “drop the price, oh well.” You know?
Everything is up in the air right now. Can you briefly tell us what your realtor said? I live in the New Dorp - Oakwood area and I and my neighbors are still getting postcards from realtors in Brooklyn and SI looking for homes on SI. Perhaps once the current crisis passes the less-dense quiet outer borough neighborhoods of SI, Queens and the Bronx will be more popular with homebuyers. Don't panic sell!
Those postcards we’re all getting is basically what he said. There were loads of people moving from Brooklyn again (re: Chinese and Russians), and he thinks that will continue or even pick up now once we open back up.
Meanwhile I'm up here in Westchester hoping this news is true so I can get out from under this house. Moving to the suburbs was a huge mistake. 'Yuuuge.
You're getting those postcards because business has evaporated. Lots of real estate agents haven't worked through 07, the other half don't remember. They were living the high life of easy money for zero work which was propped up on international money. The market was slowing down before all of this. Corona accelerated the inevitable. Now government is mopping rain, while before they were looking to pass broker payments onto the landlord. Funny times. Throw it on the market airborne see if anybody bites.
I don’t care for real estate agents either but what are they suppose to care about besides commissions?
The whole point for anyone doing that work, is for the commissions.
Meaning they don't really give a crap about the people they are selling or renting to or for. Especially renting because they don't make a big enough commission to care at all.
I had one experience with one where she knew I was in a bad situation with my current apartment and rented me an even worse place, swearing up and down it was the nicest place in the world to live. I think she took advantage of my vunerability..the place she rented me was so awful I ended up breaking the lease after six months. To think I paid her over $1,500 for that dump pisses me off to this day. LOL
Like I said before, it doesn’t matter how unscrupulous a person is, they can only fool you if you let them.
If my guy tells me he can get me $410k (the last sale here), then gets me an offer for only $375k and tells me to take it, I just say no. If I accept, that’s my stupidity, not his.
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