Nueva York es uno de los mercados inmobiliarios más fuertes del planeta. Condominios localizados en zonas como Park Avenue y Madison Avenue prometen ser una sólida clase de activos dentro de su cartera de inversiones. Propiedades de este calibre son inversiones líquidas debido a la demanda constante y un proceso de ventas sistematizado. La debilidad del mercado actual ofrece precios ideales para un comprador calificado. Ya sea como inversión para alquilar, o un pied-a-terre para uso personal en sus viajes a Nueva York, existen algunas opciones muy atractivas. La ganancia real de una compra en Nueva York está en la plusvalía del bien. Una vivienda de inversión también puede recaudar 3-5% rendimiento neto anual.
Is it a good time to sell your apartment and buy a larger one in today’s market?
Maybe you just got a big bonus at work, or had your first child. Maybe you recently got married. There are several reasons that justify moving to a larger apartment. It can be an overwhelming process for many, especially with young children and full-time working parents, like most New York families! Most importantly, is it the right time to make the move?
One thing you can be sure of is that today’s Buyer’s Market conditions could not be more ripe for making this upgrade. It’s time.
The most important place to start before an offer, is to study the market thoroughly. See more apartments than you think you should. If you’re a broker see absolutely everything you can. If you’re a buyer, hit all of the Sunday Open Houses, and only then start to make a short list. Once you have all of the numbers out there on the market you can target the correct price per square feet.
It is no good to just look online. If an apartment is sitting on the market with price reductions, you should get more information. But even if I have doubts about a property I see it. It is essential to see the space, and feel the seller’s broker out. In person you can sense smaller energy projections, and pick up on the relationship between the broker and the seller.
For Sale By Owner, tempting, but is it really a wise move for a seller? Last week the Wall Street Journal has an article on this topic again, “How to Sell Your Home Without a Real-Estate Agent,” it sounds like a “how-to” guide. They open with, “why not save 6% commission fee? Here are some websites where you can pay to directly list your house as an owner, and here are some things to watch out for.” But even this piece acknowledges that 70% of homeowners who try selling by themselves end up using a broker.
In the middle of February, Manhattan saw 37 contracts signed in one week at $4 million or above. That’s the most active week in the luxury market we’ve seen since May 2017. Things are looking up after January, which was an all time low.
I’m hoping the market is coming back. Maybe it has corrected itself, settled in sales above the $10 to $15 million mark. Sellers have adjusted expectations. As developers unload their inventory the market picks up.
What’s interesting is that in the past few weeks we have also seen the stock market rocky, going down, while interest rates are headed up. Most would take these as bad signs for the sales market. But the crowd purchasing luxury apartments in New York City seems not to be affected by these markers. Some buyers are just waiting, and no one wants to overpay. But where does waiting end? If a price has dropped from $14 million to $11.2 million are you waiting for $11.1 million? People lose deals over 1 percent but the deal is not in walking away with that final dirt cheap bargain. That’s not what it’s about. If you are looking for a home for you and your family, there has to be a line. People will linger for the final buyers’ market pricing and lose out.
For a buyer with a budget, maybe you’ve been hearing that 2017 was a buyer’s market in NYC, has that continued to present day? Let me start by saying how I see a buyer’s market. It begins like a virus, deals start looking mysterious, no one really knows what’s going on. Some sell, some don’t, it’s hard to catch on. Then 6-8 months later you realize comparables are selling for less. Offers that had seemed low you’d be lucky to get. All of a sudden you are in a completely different market. The “virus” is deeply embedded. Everything has changed in favor of buyers and they get to pick and choose.
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In this Podcast we dive into several topics that can help young brokers or anybody that has just gotten into the NYC real estate industry. We pick Mete’s brain on common mistakes, areas of improvement, strategic advice and general knowledge on how to navigate through the difficult beginning of a career in real estate. How to land exclusive, contact clients and close deals!
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Chelsea has changed in astronomical ways since the mid 1990s. Back then, it was a desolate dark neighborhood. I know many people who got robbed walking down the street at night, heading to Florent after going to the clubs, Jackie 60, Hogs & Heifers, Sound Factory, etc. you couldn’t even find a cab. In the daytime it was all meat markets around 14th street.
In the late 90s things shifted. 1995 the sporting complex at Chelsea Piers opened on the West Side Highway, great quality but empty, few would travel that far for a gym. In 1997 Chelsea Market opened, it had been bought by developers out of foreclosure for $10 million. They had retail space, bakeries, vegetable, food, and fish stores, but it was not a hit right away. It was the middle of nowhere. A lot of storefronts were empty. The office space went for nothing.
I love New York. I am also a bicycle lover. I have ridden and raced over 200,000 miles over the past twenty years, brushed elbows with many pros, Olympic riders, amateur riders, people touring, Boston, Vermont, the Hamptons. Twenty years ago there were no bike lanes in the city. The paths along the West Side Highway are new to the city. Before they were built, there was no complete way to ride the length of Manhattan. To have a full smooth ride to the George Washington Bridge is heaven.
This city takes action, I respect that. They heard the call from bicyclists for alternative transportation routes and they built them. In fact, they are still building them. The newest improvement was just announced, protected bike lanes crosstown on 26th and 29th Streets. Protected lanes are far safer for bicyclists, pedestrians and drivers than painted lanes. Looking to the L train shutdown in April 2019, the city will add a two-way protected bike lane on 13th Street. More crosstown protected bike lanes are proposed for Midtown.
Dunyanin en hareketli ve enteresan emlak piyasasi olan New York’daki son durumu 25 senedir bu new york da emlak danismanligi yapan cmb realty broker ‘i Mete Basakinci ile masaya yatirdik.