There have been a lot of theories about why there’s been any kind of slowdown in the New York City Real Estate Market:
Higher Income Taxes, Higher Real Estate Taxes, Rising Mortgage Rates (though not presently), Donald Trump, Uncertainty, a Rising Stock Market, concerns about a Falling Stock Market, tough coop boards, prices got out of hand, lack of foreign buyers, a change in taste from one neighborhood to another.
I’m sure that any or most of the above have played a part in the decision matrix of buyers.
Go on Facebook, Instagram, TV programs, the mansion section of the Wall Street Journal, the homes section of the New York Times.
Open any number of design magazines.
There is a massive proliferation of images of beautiful property.
Add to this the virtual staging of apartments that digitally and magically turn dilapidated homes into pristine properties.
Buyers go out and look at open houses and what do they find?
One-bedrooms in the past never required home stagers!
Now I would say that at least half of the properties I’m bringing to market, and many smaller apartments, mind you, are getting some kind of staging.
I believe it is an absolute necessity for sellers to get ahead of buyer expectations.
Staging and home prep are critical today, more critical than ever, if they want their property to stand out and match the vision of what buyers think their home
Putting the ” fantasy” front and center is really important today for buyers to ” buy in” , and for sellers’ homes to stand out.
Looking over the horizon is what our Visionary Brokerage continues to be about.