(VIDEO) Good News for NYC’s Property Inventory Shortage


People think the issue is mortgage rates.  Nope.

People think the issue is a recession.  Wrong again.

The issue is actually INVENTORY.  There’s not enough good property on the market.


All that’s left on the market are properties that either need price reductions (see my other post), or, seemingly, lots of property that needs a lot of renovation- then you may be feeling stuck.  What to do if you don’t like what’s on the market?

I have great news.

Sorry renters.  This isn’t for you.  It’s for buyers- Get educated now.  Because in the New Year, I expect a significant amount of good property, priced well, to hit the market for sale.

Just our firm alone will probably bring $1.5 BILLION of properties to market in the coming month or so.  That is about 500 properties, including over 40 townhouses.  That’s more than 5% of all the units that will sell next year.  And we’re just one firm.

So buckle up for an exciting 2023.

Get educated.  Learn what you love.  And be ready to see that perfect place.  Because the prices should be very exciting, and the sellers that bring their properties to market?  They’re real sellers.  Be in touch to get more specific about what you’re looking for, and where… -Scott

 

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