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No matter how grim things may seem, I always seek to find a silver lining. While we’re still feeling the effects of the pandemic across the country, one upside (if one can even say that) is it has driven NYC real estate prices down to more reasonable levels. This, among other factors, has made it attractive to those who always wanted to live and/or buy property in the City, but couldn’t afford.

In a recent article, Stephen Kliegerman, President of Brown Harris Stevens Development Marketing said, “This past quarter showed promise in returning to pre-lockdown levels, mirroring the strength we saw at the end of 2019 into the start of 2020. Buyers who have aspired to purchase in Manhattan are finally finding their moment with low interest rates, negotiability, and inventory opportunity,”

We’re also seeing people taking advantage of the market by upgrading into larger units and relocate into neighborhoods that were once out of their price range. As I mentioned a couple weeks back, we don’t expect to see any significant changes in market activity through the end of the year. However, indicators such as these underscore that NYC isn’t going anywhere and there will always be an affinity for our great City among many, even in the toughest times. It’s simply a matter of time and patience as it continues its road to recovery.

On a separate note, I want to thank everyone who shared feedback about my new website, www.markarianteam.com, in response to last week’s email. I appreciate you taking the time to look through it and offer suggestions.

Please continue to be safe and make sure to VOTE.
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Serjik ( Serj ) Markarian
Lic. Assoc. R.E. Broker
c: 212.796.6110
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My business is proudly built on referrals. Who do you know that I can help find their perfect home?
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