The REcap 9.12.19

Everyone is talking about a potential upcoming recession and its effect on the housing market. Unlike 2007, which was catastrophic and born out of real estate, this is predicted to be milder and affect our industry less. But you don't have to take my word for it; scroll down for more info.

While no one is sure what will happen, I'm sure of one thing:

The right time to buy is when it makes sense for you. Period.

No one can time real estate, including people in the industry. If you rush to buy before you're ready, you're setting yourself up for financial stress. If you wait for the bottom to drop out, you risk sellers getting nervous and pulling apartments off the market instead of letting them sit. Stop giving yourself real estate FOMO, ignore the noise, and just focus on YOUR individual situation.

And then give me a call. Because P.S., you don't pay me; the seller does.

Anna

Let's Talk

What I Read

Did someone say "recession?" NYC is usually last-in first-out of any recession, and the mix of property types, including co-ops, insulates the housing market even further. I have a thousand things to say on the matter, but Brick Underground did a pretty great summary here.

What I Wrote

BLACKSTONE, STUYTOWN, AND "WE TOLD YOU SO" PR

Blackstone, owners of StuyTown, are keeping rent stabilized apartments vacant when tenants move out rather than re-listing them and getting new tenants in their stead. They claim this is tied to their bottom line. It is a financial concern, of course, but I believe its primary goal is strategic. Read More

UPDATE - BLACKSTONE CHANGING ITS TONE

While Blackstone was withholding apartments from the market, it came out that this potentially violated the terms of their $200 million interest free government loans. After an investigation was announced, Blackstone reversed policy and is now renovating and putting these units back on the market. Read More

What Else

The last couple months have had creative themes, but this month the theme is just "wine." Wine's a good theme for the fall though, right? The end of rosé season, the transition from white to red? No? Well too bad, because I've compiled some of my favorite spots to grab a glass (or bottle). Check 'em out.

Featured Listings

15 William Street, Unit 41K Financial District 1 Bed \| 2 Bath	300 West 135th Street, Unit PHC Harlem 2 Bed \| 2 Bath
307 Cooper Street, Unit 3A Bushwick 1 Bed \| 1 Bath	376 Bergen Street, Unit 4F North Slope 1 Bed \| 1 Bath

Anna Klenkar

Licensed Real Estate Salesperson
540.664.5896
anna.klenkar@compass.com

Compass is a licensed real estate broker and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage. All Coming Soon listings in NYC are simultaneously syndicated to the REBNY RLS. Compass makes no representation or guarantee that Coming Soons are available in your region, or that its use will result in the benefits described herein.

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