NYC Real Estate Market Snapshot

Armen.Meschian_Armen.Kojoyian

How’s the NYC Real Estate Market now!

Well folks, as you can imagine many are curious about real estate and yet when it comes to the complex universe of microcosms that are the NYC Real Estate Market , that simple question opens a huge can of worms.

Take the stock market for example. Stock Brokers have become conditioned to answering back with a fabricated 15 second elevator speech which makes them sound knowledgeable, they show you the down side yet leave you confident. Honestly they don’t want to give you the breakdown of the tech sector, bond market, treasuries, utility stocks etc. In reality they are all separate sectors which though occasionally influence each other, perform independently of each. Hence they each experience different types of volatility.

Same logic can be applied to NYC Real Estate. The residential sector is comprised of many micro markets within each price category and per neighborhood. We refrain from giving direct examples on real estate for the exact reason we don’t like answering the question “how is the market?” – the answer is long and most of the information is irrelevant to the person asking.

Point of this discussion? If you really want to know about real estate market sectors, frame your question like this.

“I am interested in buying/renting in this ‘this particular area’ in ‘this price point’ what would be your thoughts on this particular market sector?”

We guarantee you that if a real estate expert is knowledgeable on the subject, you will walk away with a wealth of information, and not a 15 second elevator speech.

Author: kojo

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