More Property Grunt Wisdom
The property grunt updates us on the state of the real estate market in NYC.
Snip…
Although I suspect October will be chock full of price reductions which will allow some properties to move, I am unsure if that will help the majority of sellers. With higher interest rates what will most likely happen is that buyers will be stay on holdout vigil to see the bottom of the market. If buyers can't get a sweet deal on a mortgage, then they will get it a from the purchase price.
Full article
Snip…
Although I suspect October will be chock full of price reductions which will allow some properties to move, I am unsure if that will help the majority of sellers. With higher interest rates what will most likely happen is that buyers will be stay on holdout vigil to see the bottom of the market. If buyers can't get a sweet deal on a mortgage, then they will get it a from the purchase price.
Full article
posted by Little_Silvered at 5:38 PM
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