Yes, believe it or not-in this sweltering heat, people are out and looking for homes. Not all of NYC is on vacation in the Hamptons or Fire Island. Perhaps not so much in some segment of the sales market-although I think that anyone looking to buy at a time of year where people traditionally consider it to be “slow” is serious. Going to see an apartment when its 103 degrees out-I’d call that a SERIOUS buyer or renter-and they should not be taken as anything but such. But I'd digress into a discussion of whether or not waiting until the fall to put a home on the market is wise....and that's a long one ! Anyways,back to the topic at hand -as we continue with report mania, as I like to call it when it seems that quarterly reports are coming from EVERY which direction-here’s just a general overview on rentals. First- one of my favorite blogs, that I read daily- The Apple Peeled-has a great post that’s an overview of some quarterly rental reports: check it out by following this link…http://theapplepeeled.com/renters/rental-market-overview-junejuly/ I recently spent some time pounding the pavement (and braving the sweltering sauna we call the subway in the summer) with some clients in search of an apartment in Manhattan. So-what’s my advice- be prepared ! Know what your budget is, know your current credit profile-which is important regardless of whether you’re currently seeking to buy or sell or rent- and be prepared-you may not find there are many incentives available. You will find you will often have to pay a brokerage fee. Know whether you want to go after a “pure” rental, or if considering sublets of co-ops or condos is even a possibility, and understand the time differences between different types of properties (approval process can be same day for a rental building, but could be WEEKS if you are subletting a coop, as well as considering the additional costs for board packages etc). Take all of your factors into account-and search based on those parameters. All of these things vary by neighborhood, some neighborhoods have more inventory, or landlords more eager to make a deal, and you may find that prices have been reduced, not increased-but this is case by case. If you are unsure of what neighborhood you want to be in-explore the neighborhood whenever possible, you may find a good “deal” but it’s not a good fit for your lifestyle… When looking for an apartment this time of year-you’ve got stiff competition- summer season is hot, and not just because of the weather. Many students decide not to stick to dorms, and opt to go out seeking shares, and well, many people often relocate this time of year-trying to get situated, before the school year starts. If you see something you like, chances are someone else right before ,after OR the same time as you-likes it too. If you have roommates-whenever possible, try to ALL work together with ONE broker, and see things at the same time. Use your time and resources efficiently- have someone help you navigate the maze-there’s little reason to work with multiple agents. Find an agent that will be your advocate throughout the process-and stick to them, they will become your NYC real estate resource. These are just a few, of MANY suggestions. If you are considering a move, and have any questions about the process of finding a home in New York City, feel free to call or email your NYC real estate resource. ‘Til the next time. Always at your service
Posted via email from Nicole Beauchamp Team, Your NYC Real Estate Resource
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