Valerie, Home Buyer in New York, NY

Are people really tend to sell more in summer-spring?

Asked by Valerie, New York, NY Tue Jan 15, 2013

Hello,
we are first time buyers. Is there any reason for such a poor market? We've seen almost 90% of the existing apts already and nothing new comes up. I heard that the market go up in spring, is it true? Should we just wait?

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Answers

6
Dear Valerie:

If you want to and are prepared to buy now, you should look now. It is true that the market usually gets busier in the spring time, however, although more homes come on the market, at the same time more buyers start looking to it balances out. As a matter of fact, as a buyer, it may be easier for you to get a good deal in the off season becasue there is less buyer competition. PLease contact me direct as I would like to discuss this with you further and share more good insights. Maybe I can help you find that house that you are looking for, they are out there!

Sincerely,
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
Email: MitchellSFeldman@aol.com
0 votes Thank Flag Link Wed Jan 16, 2013
Hi Valerie
Spring, winter, fall has nothing to do with it..everything is life is timing and if you see the right
apartment for you then you see it. If you want to send me your direct email and tell me what your
looking for perhaps I cant help you find that dream apartment.
madelinepadovano@fillmore.com
0 votes Thank Flag Link Wed Jan 16, 2013
Keep in mind that people sell whenever the are ready to sell, and need to sell; generally springtime does tend to bring additional sellers and buyers onto the table; therefore to wait, or not, is simply up to you...
0 votes Thank Flag Link Wed Jan 16, 2013
What you've heard is true for most areas of the country and New York is no exception. Beginning in late March you will likely see considerably more inventory coming onto the market, The reasons are easy to understand, there's no uglier time of year than right now and homeowners want their properties to look their best when being shown. Those with children graduating from high school may be ready to down size while others are moving to position themselves in a specific school district.

The advantages of your being patient will be more to choose from, the disadvantages will be more competition and often increased pricing and possibly higher interest rates though that's not a given.

Personally I'd suggest you continue looking with the understanding that there's no reason to get frustrated as new listings come on the market all the time and over the next couple of months the pace will only increase.

Best of luck and happy home hunting.
0 votes Thank Flag Link Wed Jan 16, 2013
Traditionally inventory does increase in the spring but we are experiencing a lull in inventory in many counties.
0 votes Thank Flag Link Wed Jan 16, 2013
Each listing has its own market depending the motivation of the seller. If the seller is motivated and the listing is priced right. Then it will have a great market; if a listing is over-priced, then it will have a terrible market. If you can afford to buy, anytime is a great time to buy.

Jay Mei
Exit Realty Best
718-372-8200
jay.t.mei@gmail.com
0 votes Thank Flag Link Wed Jan 16, 2013
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