No such thing as a Down Market!

Many brokers and market analysts are describing the current Manhattan real estate market as a "down" market. I prefer "buyer's" market... None of us would have jobs without a natural ebb and flow of the real estate market. EVERYone would be priced out of NYC if prices only ever went up. The dips and lulls are when buyers can take advantage.

• Right now is the perfect time to reach out to any potential buyer and let them know that it's a great time to buy a piece of Manhattan. As long as they're in for the longer term, they'll realize gains.
• Sellers who have owned for a long time will still do well and can get out. They're not reaping the profits they would have 2 years ago, but many are still doing well if they've owned for several years.
• The good news is that, historically, most Manhattan market drops recover within 18 months. Signs are pointing to things leveling off or bottoming out (price wise) and when a property is priced properly, it moves.
• If buyers are priced out of condos, co-op prices have declined even more so because of strict policies, lack of amenities and quite frankly, their ability to violate fair housing laws and reject anyone for any reason. If buyers can deal with these restrictions and difficult renovation hoops to jump through, they can capitalize on the low price drops and buy-in where they might normally be priced out.

So reach out to all of your potential buyers and let them know that this is the time to strike!!

#sales #nycrealestate #luxuryrealestate #manhattan #realestate