Hello everyone and thanks for stopping by! Oh the joys of having a website! We recently had a problem with our site and lost some posts. Don’t really know exactly how many, and we are sorry for the inconvenience. Let our problems be a lesson to everyone to always make back ups of your website!
Anyhow, it’s a brand new year and things are looking great for 2016 for Real Estate! 2015 turned out to be a great year for my RE business and will probably set new records for ourselves this year also, even with the stock market going crazy. We bought 6 rental properties last year and hope to buy at least that many this year as well as do at least 6 rehabs!
As far as the market this year, analysts opinion varies as to where there will be good markets and ones that are still kind of stagnate as outlined in a post by Christian Brazil Bautista at rew-online.com –
Depending on who you ask, residential real estate in 2015 was either the apex of a continuous rise — or the start of a downward slide.
The headlines were devoted to some of the biggest deals in the city, such as the penthouses in Extell’s One57 tower and the $30 million condos scattered along Park Avenue.
However, with it came worries over the supposed thinning ranks of $10 million-and-above condo buyers.
There were also external worries from the strength of the US dollar, which experts say makes New York real estate less attractive to foreign buyers, and the Federal Reserve’s recent 25-basis point rate increase, which pushes up mortgage rates.
The outlook is similarly mixed for the next year.
We spoke to some of the city’s top real estate executives, and the prevailing tone is that of cautious optimism.
There was confidence over the strength of the New York City market, particularly based on the performance of the outer boroughs, matched by fears over the weakening appeal of the luxury real estate market. We’ll see who’s right over the next 12 months.
Dottie Herman, President & CEO,
“It will be a repeat of this year: healthy, strong (and with) sustainable growth.
“Because of all the wars and things that are happening all over the world, when things like that happen, people tend to find refuge in their home and then their neighborhood. And theyʼre more likely to travel inside the States than outside.
“I think that second homes are going to continue to rise because I think people are going to feel like they want their family around them.
“I kind of saw this after 9/11, when people would call me and say, ‘You know what, I have this home, can you get me another place. I want to build a home that my family can come too.ʼ Many people want to have their kids and their grandkids visit them, so they tend to go to places where their kids would want to come to, so New York City, Vermont, Miami, things of that nature. It’s always been the American dream.
My associates and I think that no matter what, real estate is ALWAYS a good investment. You just have to be able to adjust with what the market is throwing at you. If the stock market and crude oil prices continue to plumit, it may not be such a good idea to keep doing fix and flips. However, more than likely that would drive prices down a bit and be a great time to grow your rental property portfolio!
At any rate, keep investing and keep your head up! It’s a great time to be alive and investing in Real Estate!