At the Half-Way Mark

Well, believe it or not we are half way through 2010. I know, I know, it feels like we were celebrating New Years Eve just a couple of weeks ago. So far, 2010 has been a very active year in the NYC real estate market. Interest rates have remained historically low, during the winter months just prior to the market turning around sellers began to lower their prices and most importantly, banks went back into the business of lending money. All of this has added to the increase in activity.

Typically, New York City is either in a very strong buyer's market (as it was after the banking collapse in 2008) or in a very strong seller's market (as it had been from 2002 to the beginning of 2008). However, right now we find ourselves someplace in the middle and that is a very healthy place to be. Lots of activity, not frantic but busy, buyers have inventory to look at, prices have leveled off and in some case just begun to rise. Its a good time to buy and a good time to sell and that scenario rarely happens.

So, while you lay on the beach this weekend or work the hot dogs on the grill be thankful that the worst if over. Be thankful that you live in a great country and a great city and enjoy every minute of the holiday weekend. We work hard, we deserve the rest and as we head into the second half of the year lets do so with the optimism that things will continue to get better.

Happy July 4th to everyone.....