Ditch the Overcoat, NYC is Heating Up
Dear Friends,
The Spring season is here, and sellers are putting their homes on the market, and buyers are venturing out on Sunday afternoons to find the right home for them.
Having been in this industry as long as I have, I have learned how to get valuable information from keeping an eye on certain trends and events. Obviously, much of the information I track is financially based, but there is also a significant portion of it that isn't.
Here are a few pieces of recent news about the real estate market and the city that you may find interesting.
The local real estate markets continue to bustle with activity, much of it focused on the highest end properties, which differs greatly from just 20 years ago and may offer opportunities a more moderate price points.
- https://www.nytimes.com/2019/05/02/realestate/following-the-money-in-residential-real-estate.html
The amount of leverage the average local residential real estate buyer can use has grown over the past few seasons, after many cycles of pure sellers' markets. How will the new tax laws impact this trend, particularly when it could mean a shift in who takes on paying the new mansion tax.
Another trend that continues to take hold locally (and nationally) is more green and environmentally conscious plans for current and new buildings. In fact, the just passed Climate Mobilization Act will impact 50,000 NYC buildings.
- https://thebulletin.org/2019/05/new-yorks-plan-to-make-50000-buildings-super-efficient/
Here's one more article about the city, but more fun!
- https://ny.curbed.com/maps/things-to-do-new-york-city-brooklyn-manhattan-queens
Do you have questions that I could offer you guidance on?
If so, let me know.
Have a great Spring,
Jim
NMLS #53335