The New York real estate market is definitely going to be very interesting in 2016. The bouncy stock market and interest rate spikes will definitely have a direct effect on New York’s real estate market.
The steady rise in interest rates will lead to cautious buyers, which will send prices in a downward spiral. Transactions will still occur, but the process will take longer because buyers will ask more from their sellers and study the contracts very closely. As a result, buyers will take much longer to make up their minds. Buyers searching the market will most likely view the property at least twice instead of jumping on it immediately as they have in the past.
It is predicted that baby boomers will play an extremely important role in the New York City market. Many baby boomers are ready to downsize and make their way back into the city and they often like to pay in cash. It is expected that the amount of high priced top of the line luxury condos will skyrocket.
Town Residential has established itself as New York’s premiere luxury real estate company. Town Residential, with its professional team of executives, have deep experience in high class residential sales. Town Residential also specialize in the leasing and sales of both, retail and commercial developments, as well as marketing strategies. Town Residential is considered one of the top 50 best companies to work for in New York. Their representatives provide their customers with exceptional service and expertise in the real estate field.
Town Residential offers their expertise in relocation services as well. They offer a personal consultation for an employee ready to relocate. After potential properties are decided on, Town’s relocation specialists will set up viewings, provide transportation and deliver insights to the neighborhood. Their team will help their clients settle in by setting up utilities and providing links to social networks and doctors in the area. When it comes to first class service, Town Residential has the experience and expertise, not to mention the most reliable luxury real estate service in the New York City area.