The economic crisis in 2008 had an extreme effect on the housing situation, creating an unprecedented number of foreclosures and short sales. Homeowners who wanted to sell their homes and move couldn’t, and many have been waiting until the economy in the U.S. rebound. It had been a long seven years, but predictions reveal that the real estate market will pick up in New York City in 2016. As NYC experiences the trends first, it’s only a matter of time until it spreads to other major cities across the U.S.
Predictions say that interest rates will open the door for real estate growth. Another reliable sign from Real Estate Weekly is that RE/MAX has purchased the Master Franchise for the state of New York. For the past decade, they have had an office in Manhattan, but this major real estate company is planning on returning to NYC.
Dave Liniger is the power-house behind RE/MAX, and he is determined to secure a position in NYC real estate market. He has established a marketing team to move in NYC and then expand across the state. RE/MAX is just in time to be a part of the real estate industry growth.
Most of the eight predictions focus on the middle-income bracket, so RE/MAX has made a superb decision of returning to NYC. Luxury properties will not receive as much attention, but they will be slightly affected.
Besides an adjusted interest rate, the predictions project that the lower-priced luxury spaces, from $1-$3 million, will go quickly. The higher-priced luxury units will continue to be available for the right buyers, but the main thrust of the predictions is for reality brands like RE/MAX.
TOWN Residential has been in the NYC market for five years, but they are one of the top luxury companies. They have an excellent team, and they are known for offering tremendous service for their clients.
As the year progresses, TOWN will undoubtedly be a leader in condos and homes sales in the luxury market. They appreciate an exquisite dwelling and are extremely talented in showing a dwelling that is perfect for the client.