November first...

I know that many of you are still dealing with the remains of the Nor’easter that hit the East Coast this Halloween weekend. I wish you all the best and hope you are warm and safe.

As we all know, the real estate market is a moving target reacting to the perception that buyers and sellers have of the economy.  When the evening news talks about the S & P downgrade and the jobless reports shows little growth there is a sense on the street that now is not the time to buy.  When sales get slow, rentals get busy and so in August and September in reaction to this negative news the rental market sizzled.

Since then the news from Wall Street has been positive, the markets are all up, October was a very strong month for stocks, interest rates are still at historic lows and the perception on the street is that now is a good time to buy. For us at Bond New York, October was a very strong month for our sales division and we remain highly optimistic of continued growth in November.

Below is an interesting article speaking more about the perception of buyers and sellers.

I hope you will enjoy it as much as I did.

And, as always, if you or anyone you know is thinking about buying, selling or renting property in NYC please let me know.

http://therealdeal.com/newyork/articles/residential-deals--46

Oh, and back to the old habit: My socks today are Bright Red Paul Smiths!