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Over the last few days everyone was talking about the weather; Juno was supposed to be an historical storm but it turned out to be an hysterical one instead, at least in New York. Thinking about the weather made me realize some surprising parallels between the weather and New York Real Estate; allow me to share my thoughts with you.
1. Everyone talks about it.Everywhere else people talk about the weather all the time but rarely talk about Real Estate; Real estate is not a significant part of people's life outside of New York. In New York, Real Estate is part of the culture; people live and breathe their apartment and the trends of the local market.
2. By the time we realize that it changed, it’s too late. Our weather is very tricky. A day can start one way and finish off completely differently. If we go outside with ‘old’ information we’ll probably be too cold or too hot. New York Real Estate is very much the same; people don’t buy when the market is down, but by the time the market goes up they feel that it’s too late. Then, when the market keeps going up, people hold off on selling and by the time they’re ready to sell the market is already slower. Working with a knowledgeable and honest agent (like me!) will help in making the right decisions at the right time.
3. It may appear one way but it’s really very different. How many times do we look out the window, see the gorgeous sun out and assume that it's nice and warm only to find out once we’re out that it’s bitter cold? New York Real Estate news may be highlighting some shiny transactions and we feel that we know the trend but only the ones who walk the street know exactly what the temperature is. A knowledgeable and honest agent such as myself can give you an accurate description of what is really happening in the Real Estate market that is relevant to you.
4. We might hate that it’s so extreme but we are more than willing to pay the price. Admit it, you would love to have the West Coast’s weather and live in 70 degree weather all year long, but you love New York and you’re willing to put up with this weather because, well, it’s the greatest city on Earth! Same with Real Estate - we can all live in mansions almost anywhere in the world, but prefer our space-challenged homes because they are in New York!
5. There are many ways of taking advantage of every situation. We are not a beach town or a ski village. New York really offers an amazing variety of options - indoors, outdoors, daytime, nighttime, rain or shine. New York Real Estate changes a lot, some changes are significant and some are subtler, but there are ways to take advantage of every situation. Sometimes it is a great time to buy, sometimes to sell, sometimes to rent a smaller property and sometimes to move to another neighborhood - there are always ways to take advantage of the current market. I will be happy to go over your specific situation so we can figure out together what’s best for you.
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