The real estate industry is booming in many parts of the country. As prices continue to increase, there are many buyers who are struggling to find a home within their price range. Over the past few years, a lack of inventory has caused issues in numerous real estate markets.
One of the biggest variables impacting the real estate market is the rate of interest available to borrowers. There are many people who are excited about the different loan options today. However, many people expect that interest rates will increase in the coming years. As a result, the real estate market could be impacted by higher rates in the future. This is important to remember for anyone who owns real estate.
Lack of Inventory
There are some buyers who want to purchase a home but cannot find one for sale in their area. Over the past few years, the amount of available inventory on the market has decreased rapidly. In many areas, homes are selling as soon as they list. This is frustrating for many people who want to purchase a home.
Many home builders are trying to keep up with demand. In some areas, it is simply not possible to build enough homes to meet the needs of real estate buyers. This is a trend to watch in 2018. If inventory continues to dwindle, prices will continue to increase throughout the country.
There are many people who have high levels of equity in their home. As a result, many homeowners are remodeling to increase the value of their home. This is a great sign for the housing market. As a general rule, people spend money to improve their home when they are confident about the economy.
The real estate market is expected to continue improving in 2018. Now is one of the best times in history to sell a home. With more demand from buyers than ever before, many sellers are able to get record prices for their home.
Real estate investors are struggling to find deals in the current market. With almost all of the inventory gone, it will be interesting to see if home builders can keep up with the demand from buyers. Until that happens, home prices will continue to increase.
The real estate market is booming in many areas of the country. This is especially true in New York City. There are many real estate investors who are trying to find a property to purchase in the area. As a result, real estate prices continue to increase each year.
There are numerous projects in the commercial real estate industry starting up. It will be interesting to see which construction projects finish over the next few months.
New Parking Garage
One of the most anticipated real estate projects is a new parking garage. There are many people who have issues with the limited parking space in New York City. As a result, the need for parking spaces throughout the city will only increase. A parking garage is a great investment, specifically for New York City. Although the initial investment is high, many business owners think that this is a great way to make money for the future.
Long Island University has been growing in the number of its student population. As a result, the college needs more dorms for students during the school year. A new residential dorm is currently being constructed in the area. Although the project is not finished, many people expect that it will be completed in the near future. The officials at Long Island University hope to use the dorm for the 2019 school year.
Medical Treatment Center
The need for quality medical care in New York City continues to increase. There are many people who cannot get the care they need in a short period of time. As a result, there is a new medical treatment center being built in the area. The project just started, but many people still believe that the project will be completed by the end of 2018. This was a major financial investment by the city, but a new medical center is needed to help improve healthcare in the local area. In the coming years, many real estate experts believe that the real estate market will only continue improving in value. Now is a great time to invest in a commercial real estate project in New York City.
Heading to New York for a few days, but not sure where to start? The great news is, there’s something for everyone to enjoy – whether you like shows, food, culture, New York City has it. The less great news is – there’s so much to do that it can be hard to decide what’s worth your time and money and what’s not.
On Tourist Traps
Midtown Manhattan has a ton of tourist attractions, it’s true, but it’s almost teeming with other people that getting around can be nearly impossible. The lines are longer, everything is more expensive, and there’s very likely an alternative a few blocks down the street that offers the exact same thing, but with a better atmosphere and more authentic experience. That’s not to say that you shouldn’t make a point to see Time Square or Rockefeller Center if you’ve never been! Just be aware that there’s going to be a lot of tourists, and getting in that picture-perfect photo op might take a few tries.
On Where to Eat
You can practically eat your way across the globe all while never leaving the city limits. Skip the chain restaurants, too – you’ll be grateful you did. A good rule of thumb is not to ask someone where’s good to eat, but where they go to eat. New Yorkers have the advantage of knowing their neighborhood like no one else, so if they say somewhere serves good food, trust them. And, yes, even if that place turns out to be a street vendor. They just might have the best chicken shawarma you’ve never tasted.
On What to Do
In the mood for something artsy? You’ve definitely heard of the Metropolitan, the Museum of Modern Art, maybe the Guggenheim, but there are so many more museums to check out. Go see the New Museum, the Cloisters, or the Frick, or the Tenement Museum or Ellis Island Museum if you like history. You can’t beat Central Park as far as New York icons go, but take a walk through the High Line or Prospect Park in Brooklyn for something a little different.
On How to Get Around
Cabs are not only more expensive, but a lot more inconvenient. The subway, while it may seem intimidating, is a lot easier. Just make sure to plan your route out ahead of time, which you can do with the convenience of their website. While you’re there, make sure to be a considerate passenger: don’t take up too much space by leaning against a pole. Let people get off the train car before you try to make your way on.
The city is safer than ever (just keep an eye on your belongings, as you would anywhere else). Between modern technology and a friendly native eager to show off their vast knowledge of New York, you’ll find your way around with very few problems.
Another good rule to remember? Keep up a brisk pace when you’re walking, and don’t crowd the sidewalks with a large group of people. No one will thank you for it.
New York has so much to offer; it’s only fair that visitors get as much out of their time there as possible.
About Avraham Glattman
Real Estate professional, Avraham Glattman, is an extremely successful man in many aspects. Not only is his Real Estate company, First American Properties Group, one of the top in New York City, but Avraham is an exceptional family man who holds great history from his life’s events.
Avraham Glattman was born and raised in Israel, where he stayed until he was a young adult. Avraham attended school in Israel until his completion of high school. After high school Avraham served in the Israeli Army for 3 years. In 1989, Avraham Glattman was sent to America. He was asked to work for an Israeli newspaper in Brooklyn, New York. The company paid for him to fly to NY and work, so he did.
Avraham Glattman met the woman of his dreams soon after settling in Brooklyn. The decision was made that he was not letting her slip away and New York City would be his new home. He married beautiful New York City born wife, Lisa, in 1991.
A few years later, Avraham Glattman and wife Lisa started their wonderful family. Three children and two dogs later, Avraham and his family reside happily on Long Island. Avraham Glattman’s eldest son Daniel, 16, the middle child Abigail, 14, and the youngest boy Yoni, 12, are all extremely active with very diverse hobbies and interests. The pups, Louie and Luna add tons of character to the Glattman family. Avraham has his hands and schedule full with his children’s’ sports events, concerts and school activities.
Daniel is a big hockey fan, with a dedication to the Devils, while Yoni, contrary to Daniel, is a Tennis player. Abigail is your typical girl’s girl at age 14, with a passion for music and a specific love for the band, One Direction. In addition to hockey, Daniel is a soccer fan as well, just like his father. Avraham is a big Manchester fan. He saw the World Cup in Germany years ago and is very proud of that experience. In addition to his love for soccer, Avraham Glattman enjoys a good book and Global Politics. He quotes, “Give me a book, I will read it.”
As a successful business man and loving family man, Avraham Glattman has much to look forward to waking up every day. He absolutely loves his career and being able to benefit individuals in the industry of Real Estate, but the main thing that keeps Avraham Glattman optimistic and gives him the most purpose, is his family.