The uncertainty in the world financial markets and economies has resulted in huge swings – both positive and negative – in the stock markets. This volatility has paralyzed some buyers who sat on the sidelines in August despite plummeting mortgage interest rates. And this volatility terrified some sellers.
We will hopefully see some stability in all markets over the coming weeks. With stability comes the ability to comfortably make informed and rational decisions, one of the major prerequisites for a comfortable market with successful home sales and purchases. This month’s Mann Report Residential column discusses these issues and lets you know exactly what’s happening at the core of Big Apple real estate. Please also tune into my blog – michaelshapot.blogspot.com, The Core of Big Apple Real Estate, for the latest developments in Manhattan’s residential real estate market.
(Mr. Shapot is Senior Vice President of Prudential Douglas Elliman Real Estate)