BUYING IN NEW YORK DURING COVID

Buying a property in NYC during the time of Covid is either frightening or a fabulous opportunity.

While some of my out of town buyers are shelving their search for the time being, quite a few smart individuals are stepping forward with an interest in purchasing now.

As soon as we are permitted to re-enter buildings in Manhattan, hopefully no later than mid-June, we can make showings very safe indeed, either by agents conducting video walkthroughs, or by allowing one buyer at a time to enter the property, wearing masks and gloves.

There will shortly be an explosion of pent-up listings hitting the market, creating fabulous buying opportunities. Under normal market conditions, high inventory drives prices down. And in this environment, many people will want to flee the city quickly and will undoubtedly accept below-market offers.

What’s making buyers so eager to purchase during this uncertain time? The knowledge that no other city will ever be like New York – rising from the ashes after unspeakable financial and physical catastrophes. And coming back better, smarter and richer than before.