Tips, Trends and Tales from a Pro
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Are we approaching a turning point in Manhattan’s housing market? Are prices nearing the bottom? Only with the benefit of hindsight can we determine highs and lows, but it feels very much like 2009 when home prices sank and remained flat until regaining traction and climbing past the peaks of 2007 to new highs seven years later in 2014.
Multiple bidding is occurring with increasing frequency especially for entry level homes and well priced properties under $2M. As competition heats up, it’s worthwhile to review four competitive bidding tips.
Tax reform has been on everyone’s mind of late, and the political noise and rhetoric has stirred up uncertainty in residential real estate markets, creating tension and highlighting hesitancy.
With the click of a mouse, homeowners today can obtain instant quotes on the value of their most significant asset: their homes. Banks, insurance companies, real estate brokerages and even media companies offer computer generated property valuations using formulaic software based on publicly available metrics such as square footage, number of rooms, bedrooms, bathrooms and recorded neighborhood sales. These computer-generated estimates, however, lack elementary inspections, critical market perspective and professional intuition, so they fall grossly short of the mark
