Real Estate Connect – The Business Part of our NY Trip
Most of our New York experience was out of the Hustle & Bustle of the city and was the reason we were there. We came for knowledge, insite and information about real estate and new technology and came away with much to digest.
Did you know all taxi’s in Manhattan have to be yellow? (Oops, got off track there)!
Our meetings were in Manhattan; one pundit quipped that Manhattan really isn’t a part of the U.S.! This seems to be true as Manhattan real estate appears to be booming. It is an island unto itself and one that many people from all over the world want to have a home in. Just bring lots and lots of money! Out in the bordering communities (the borrows) the housing, such as on Long Island, things aren’t quite as good. Forclosures loom and prices have declined some but New York isn’t as gloomy as many other parts of the nation. SEATTLE is one of the areas that hasn’t been affected as much and if fact, as our news papers report, prices in Seattle are still appreciating. Nationally the areas that are appreciating are those with technology in common. That’s us.
Tidbits of info: Not in any particular order and some with opposing views
- People have to have somewhere to live, many will still buy homes
- RE is “downside sticky” most people stay put where they live. Houses are tangible
- 2 million people face forclosure. Most are families with children, not greedy investors
- The solution to the forclosure mess is:…………… see upcoming post
- Greedy investors caused the boom
- Who’s buying? Those who have to, marriage, divorce, having children and need space
- It is a election year, many are in a wait and see mode
- U.S. weak dollar and declining prices in housing will attract foreign buyers
- 0 down is dead
- Large down payments will stabilize the market
- People will migrate to other areas from depressed areas
- Most second home buyers are not flippers, buy home for retirement, kids in college, etc.
- Social Media on the internet are changing the world of real estate
- Real Estate advertising is swiftly changing from print to online, if fact already has
- Flip video camera is not expensive and does a great job
- Real Estate market will continue to go up and to go down
