West Side Rag
  • TOP NEWS
  • OPEN/CLOSED
  • FOOD
  • SCHOOLS
  • OUTDOORS
  • REAL ESTATE
  • ART & CULTURE
  • POLITICS
  • COLUMNS
  • CRIME
  • HISTORY
  • ABSURDITY
  • ABOUT US
    • OUR STORY
    • CONTRIBUTORS
    • CONTACT
West Side Rag
No Result
View All Result
SUPPORT THE RAG

Search the site

No Result
View All Result
Get WSR FREE in your inbox
SUPPORT THE RAG

Real Estate Update: Manhattan Is On Sale!

September 17, 2019 | 12:34 PM
in REAL ESTATE
0

SPONSORED

The market is showing positive signs, as activity has jumped. August of 2019 actually outperformed August of last year. The counter balancing increase in rents is now, once again, seemingly producing an increase in the numbers of home buyers, as opposed to renters. Substantial price reductions and surprising low interest rates, not seen in years, are making purchasing attractive. Active buyers are further noticing the willingness of “real” sellers to negotiate even more. As I had mentioned before, I believe Manhattan is on “Sale” and that it is likely the greatest buying opportunity, in Manhattan, of our lifetime.

In my 20+ years, I have seen innumerable market turnarounds and they are notoriously quick, often times leaving those trying to time the market empty handed. This time with so much inventory and a dearth of foreign buyers, it is unlikely to turn as abruptly as the past, but it (this) could mark a change in the markets trajectory.

For buyers, the Fall market always presents tremendous opportunity, as sellers understand the window for consummating a deal is short. If sellers do not have offers or have not come to a deal with someone by the second week of November, they know they may not see any offers until Spring. As a result, seller’s ears are open to hearing any offers. In this particular year that futility could be even more severe considering the impending Presidential election year. The uncertainty that notoriously ensues is a nightmare for sellers, but again, an enormous opportunity for buyers.

Anecdote: there is a lot of chatter about a looming recession, which is indeed likely. That said, we must remember that recessions are most commonly brief, lasting only several months to a year. It is defined as two successive quarters of a fall in GDP. It should not be confused with the most recent recession in our minds, The Great Recession,  in which there was a total meltdown and which lasted for many years. In recent years, the market has already made a substantial adjustment and the dynamics in our economic policy have been substantially strengthened. Successful real estate investor Alan Schnurman wrote, “When you’re crying, you should be buying. Real estate is basic economics. Buy when there is more supply than demand. Sell when there is more demand than supply.”

Keep in mind that right now interest rates are at eyebrow-raising lows and access to that money is relatively easy. In the event of an actual “recession”, which will certainly be proclaimed in the press, lending institutions will tighten the requirements to access their capital. So if you are solely trying to “time” the market for price, please recognize there are other counter-balancing elements to the equation.

QUESTION:   

Are you prepared to dive in? You should always know what you are in a position to buy or sell at all times. If you don’t know, reacquaint yourself with the marketplace. What is your property worth? What can you afford to buy? Anyone interested in buying or selling, should be rolling up their sleeves to determine whether the time is right to sell or if there’s a home or investment property out there for them

To see my whole Newsletter click here. To subscribe to my Newsletter click here.

Roberto Cabrera 

Licensed Real Estate Broker 

Brown Harris Stevens 

212.906.0554 

rcabrera@bhsusa.com 

Your City, Your Broker…

#YourCityYourBroker #NewYork #Manhattan

Share this article:
SUPPORT THE RAG

Leave a Comment

Our hope is that the comment section will provide a forum for meaningful, respectful, informative, and humorous discussions among neighbors, factual and relevant to the article that is the subject of the comment. We hope that more of our readers will join in and share their opinions, insights, and expertise. Your email address will not be published. Please limit comments to 100 words and keep them civil. We delete comments that don’t adhere to community guidelines.
Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

YOU MIGHT LIKE...

The Latest on West-Park Church: The Long-Awaited Independent Report on the Cost of Restoration
NEWS

UWS Arts Center at West-Park Church Served Eviction Papers Following Court Decision

June 10, 2025 | 6:47 PM - Updated on June 11, 2025 | 9:12 AM
Scaffolding and Shed on West 86th Street Coming Down After Almost 20 Years
NEWS

Scaffolding and Shed on West 86th Street Coming Down After Almost 20 Years

June 5, 2025 | 4:39 PM - Updated on June 6, 2025 | 10:35 AM
Previous Post

‘Taste of Morningside’ on Sunday Features 15 Restaurants; Arts Festival Too

Next Post

Pupper West Side: Hobie’s Story is the Stuff of Dickensian Literature

this week's events image
Next Post
Pupper West Side: Hobie’s Story is the Stuff of Dickensian Literature

Pupper West Side: Hobie's Story is the Stuff of Dickensian Literature

New Project Set to Become Upper West Side’s Tallest Building

66th Street Tower Will Have Extra Review Over 'Mechanical Void'

Central Park’s ‘Monumental Women’ Receive Community Board Thumbs-Up After Historians Question Design

Central Park's 'Monumental Women' Receive Community Board Thumbs-Up After Historians Question Design

  • ABOUT US
  • CONTACT US
  • NEWSLETTER
  • WSR MERCH!
  • ADVERTISE
  • EVENTS
  • PRIVACY POLICY
  • TERMS OF USE
  • SITE MAP
Site design by RLDGROUP

© 2025 West Side Rag | All rights reserved.

No Result
View All Result
  • TOP NEWS
  • THIS WEEK’S EVENTS
  • OPEN/CLOSED
  • FOOD
  • SCHOOLS
  • OUTDOORS
  • REAL ESTATE
  • ART & CULTURE
  • POLITICS
  • COLUMNS
  • CRIME
  • HISTORY
  • ABSURDITY
  • ABOUT
    • OUR STORY
    • CONTRIBUTORS
    • CONTACT US
  • WSR SHOP

© 2025 West Side Rag | All rights reserved.