Merlino & Gonzalez February 2019

Is Staten Island Now a Buyer’s Market? WHAT THE CHANGE MEANS FOR REAL ESTATE IN 2019

Since 2015, Staten Island has been one of the strongest seller’s markets in real estate. Through last year, the prices of homes soared while the supply remained consistent. Even as prices in other boroughs dipped during 2018, the market on Staten Island remained strong. As such, securing a home was a difficult process that required buyers to be flexible and compromise. However, no seller’s market stays that way forever. The market, by its very nature, corrects itself and works in cycles. Many Realtors believe that Staten Island is finally switching back to a buyer’s market. This change could mean that real estate transactions will work very differently than they have in previous years. From a buyer’s perspective, the increase in home inventory means greater choice and less urgency. Most buyers will not have to worry about a property being snapped up from under their nose, and

multiple-bid scenarios will be far less frequent. Offsetting this trend, however, is the rise of interest rates, which means those receiving mortgage loans may have to slightly adjust their budget downward. For sellers, the new market will lead to properties being listed for longer. That’s not necessarily a bad thing, as the market isn’t expected to cool enough to cause a serious drop in prices. Provided that sellers are willing to wait for the right offer, they shouldn’t see prices decrease significantly from last year’s expectations. Understanding the nature of the market is crucial to navigating a real estate transaction effectively. At Merlino & Gonzalez, we have a real estate planning road map that will lead you to the right purchase no matter the state of the market. Call us today to find out how we can help you buy or sell your home this year.

HAZELNUT BERRY CHOCOLATE BARK MICHELE’S RECIPE CORNER

take a break

• 7 ounces dark chocolate • 1/4 cup roasted hazelnuts • 1/4 cup dried cranberries • 1/4 cup dried cherries INGREDIENTS

TOOLS

• Candy thermometer DIRECTIONS

1. Chop chocolate and place into a mixing bowl. 2. In a double boiler, melt chocolate. Stir frequently and remove from heat as needed to prevent burning. Keep chocolate under 115 F. 3. Once melted, pour chocolate into a baking sheet lined with parchment paper. Spread evenly. 4. Add hazelnuts and dried fruits. Let sit at room temperature until set. 5. Break into shards and serve.

718-698-2200 3

www.realestateplanninglaw.com

Made with FlippingBook - Online Brochure Maker