The 4th Quarter 2015 finished on a high note for New York real estate (and me as I became a Dad) with all time high price levels and a slight rebound of inventory. Manhattan and Brooklyn market snapshots will confirm the different trends both markets are currently undertaking with more opportunities arising for Manhattan buyers.
As we closed on 2015 and debuted 2016 with questions about the Fed recent rates increase and oil prices effects on Real Estate, I have including two notes about the influence of the Fed on mortgage rates, and oil price drops potential effects on strengthening foreign investment into New York commercial real estate this year.
Few people have decided to sit on the side line for the last year or so hoping for prices to drop and inventory to replenish. Since timing the market is everything, 2016 may bring its doses of opportunities, even if prime neighborhoods and well priced properties will keep showing resilience.
Finally, with Brooklyn’s anthology of neighborhoods and lifestyles, I am bringing some focus on Downtown Brooklyn (dubbed DoBro by many professionals) as the area is set to propel the borough into an entire new and exciting dimension.
I truly hope that this newsletter will be beneficial and informative while shaping your real estate plans. I remain available to consult with you at your convenience.