WELCOME TO A SELLERS MARKET! GUIDE TO BUYING AN APARTMENT IN THE CURRENT NYC FAST PACED REAL ESTATE MARKET: There is no doubt that New York City real estate has became a seller’s market, consider the following: open houses are packed to capacity, bidding wars and all-cash offers have almost become the norm, and some listing prices actually rise, not drop, after a home is listed. The number of Manhattan apartments for sale dropped 27.6 percent last month, to 5,077, versus 7,011 for the same period a year ago. The rules of engagement for buying an apartment in the city have changed. Negotiation, brokers say, is no longer part of the equation. Forget about taking time to mull over your decision. Serious buyers need to be prepared to pounce. And while lots of cash has always helped, it’s now more important than ever, as sellers select the best offers with the least amount of hassle involved. While housing prices across the country recently posted their biggest gains in seven years, New York City’s market has been experiencing a slow and steady recovery ever since the market hit bottom in 2009.
Posted on: Mon, 05 Aug 2013 21:34:00 +0000
Trending Topics
Recently Viewed Topics
© 2015