BUYERS OF PROPERTY IN NEW YORK: It could be “time”.

Authored by: Laurie

June 11th, 2007

You’ve watched an adjustment in property values. Some people bought at a high; some bought when things were much better a few short years ago. Now, homes are waiting for you, having reacted to an overblown and frenzied market- they are settling down, these homes. Attainable pricing is back, and available, and your home is waiting…

If your mindset is that you’d prefer to get in on the make-big-bucks frenzy, you missed the boat for the short term. For the long term, however, a real estate purchase has proven, over and over again, to be a premium investment.
What is clear is that sellers have adjusted their pricing.

Hindsight is always best when viewing a real estate purchase. Markets tend to be cyclical. Seven years, give or take, and then…BOOM. A boom. If you bought at the top of a boom, relax- you likely purchased a home that (industry average) you will live in for seven years, and then sell. No coincidence, in my view, that you’ll make your next move when the market is “hot”- just a few years, and you’re ready to trade up.

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