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Trends Coming for the New York Real Estate Market
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Trends Coming for the New York Real Estate Market

If you are in the housing marketing, Town Residential can help. With a specialization in high-end properties, when you want that perfect penthouse or an apartment with a view in New York City real estate, you’ll be able to find it right here. Of course, before you do any of that you will want to try and understand what is going to be happening in the real estate market throughout the city and what to expect. While it does depend on what you’re looking for, there is a noticeable trend occurring in the market and Town Residential wants to make sure you are aware of it.

 

First, Town Residential points out prices have started to flatten out. Due to this, it is possible to wait a little longer if you are looking for the right home or if you are selling your property. Values are not going to be changing in value anytime soon. As someone who is buying a home, the only real reason why you might want to look towards buying a property now is because interest rates are set to rise in the coming months. It will not be substantially, but it is something that is going to change and it will affect your overall investment. Even a half a percentage change can end up increasing the amount of money you pay by thousands of dollars, so keep that in mind.

 

Beyond this, it is going to be a bit more difficult to line up a deal when buying a house. Home owners will know the market is not going to tank or jump up, which means if someone does not give them a price they want, they are likely just going to decline and wait for another buyer. This is not the case for everyone, but it will be the norm for buyers and sellers. So, if you are looking to score a sweet deal on a new property, you need to understand the day of crazy deals on real estate, unless it is a fixer-upper or something of this nature, you probably are not going to land it.