Have you ever broken your own rules and immediately regretted it? Well, Rosemarie, even as a true professional, has learned the hard way from not listening to herself. Hear all about how Deane did not get it done, how the city’s demographic maybe changing forever, and how NYC handles summer in this August episode.  

Last month’s quote was from Robert Kiyosaki the author of “Rich Dad, Poor Dad.” He wrote:

“Real estate investing, even on a very small scale, remains a tried-and-true means of building an individual’s cash flow and wealth.”

Here’s this month’s quote:

“Buying real estate is not only the best way, the quickest way, the safest way, but the only way to become wealthy”.

As always, contact her if you know who said that, or if you have any questions about buying or selling real estate. E-mail Rosemarie at Rosemarie.deane@sothebys.realty 

Call or Text her at 917-407-8542

Enjoy the rest of your summer!

Market Report

The word for the market is “stabilizing”. The market is not crashing, it is not dead, it is experiencing a seasonal slowdown, as it used to do in the summers before Covid.

Nobody is panicking. In fact, pending sales are up slightly, and supply is drifting down. Some sellers are waiting for summer to be over before putting properties on the market in the Fall. Summer was always a slower market.

In 2020 the market came to a halt. In 2021 pent up demand sped up the market. Now we are back to normal.

The concern about rising interest rates is overblown. Interest rates are about what they were in 2019 before Covid. For most mortgages that is between 4% and 4.5%. Has this affected demand? It doesn’t look like it, yet.

That said, there is some downward pressure on pricing, but not dramatic, as in some other overheated markets. Perhaps 4% to 5% at most, depending on the property. There is still a shortage of properties.