Real Estate Carpool: Episode 1
On December 20th, the Focus Team conducted their first ever Real Estate Carpool. Our team lead (Russell Putterman) and LI Expansion Partner (Matt Lenner) answered burning questions on the 2018 real estate market, trends to expect for 2019 and much more. Here are our biggest takeaways from the carpool:
- It is a buyer’s market in both the suburbs and the city
- Matt identified that it used to be a seller’s market in Long Island, but has shifted to a buyer’s market – especially for the luxury segment. It is important to have an up-to-date home to ensure that prices are not dictated by buyers.
- NYC is also seeing similar trends for the luxury market and foreign investments have decreased over the years. Price points are also lower, which is giving buyers more leverage. Mortgage contingencies are actually becoming more popular on buy-side deals as well.
If you are looking to buy, download our NYC Buyer’s Guide for more info >>
- Fed rates have raised yet again
- The market and consumers saw this coming and we are still at a historically all-time low – even at 5%. The team is surprised to see the feds raise the rate again, but anticipates for this to level out over time.
- What was 2018 like for the Focus Team and projections for 2019?
- The Long Island team had 60 transactions and are expecting to see upward trends for the 2019 period.
- The NYC team saw similar numbers to the year before even with major market shifts. The team implemented many systems for automation and growth throughout the year.
The Focus Team approach affords our clients a concierge experience through our expertise in specialized roles to provide an unparalleled level of service throughout the buying, selling and leasing process. To learn more about our team or to book an appointment with us today, contact us.
To view the full episode, you can view below and please let us know if you would like to see any other topics in future videos: