Here’s How $750M Investment Will Transform Metrocenter Mall Area

/0 Comments/in /by

After 47 years of operation, Metrocenter Mall shut its doors for the final time on June 30, 2020, amid a pandemic and after efforts to revitalize the mall fell short. But, like the namesake of the city in which it resides, new life is coming to this Phoenix landmark.

Concord Wilshire Capital (CWC) and TLG Investment Partners (TLGIP) announced that they have partnered with Hines to acquire Metrocenter Mall and plan to invest approximately $750 million to redevelop the property into a residential and mixed-use community.

“It’s a remarkable opportunity to reimagine what was an iconic regional mall at a Superior location at the time it was built but has become even more attractive as a development site with the light rail set to terminate there in 2024,” says Steve Betts, senior advisor to CWC and Hines. “With growth continuing to move to the northwest and businesses such as the Taiwanese Semiconductor Manufacturing Company bringing 8,000 jobs just 15 minutes north on the I-17, Metrocenter is now in the center of our metro.”

The Deal

The metamorphosis of a declining mall property into a revitalized community has taken a long, winding path. In 2016, the previous owner of the mall, Carlyle Development Group, did the crucial work to make this community possible — it led a rezoning effort for Metrocenter.

Carlyle obtained approval from the Phoenix City Council for a planned unit development (PUD) designation, which allows the applicant “to propose the uses, development standards and design guidelines for a site, and by doing so, enter into a collaborative review process,” according to the City of Phoenix’s website.

In a press release announcing Metrocenter’s redevelopment, Abdi Mahamedi, president and CEO of Carlyle Development Group, says, “We worked very hard to obtain approval for a flexible PUD that allows a high density residential and mix-use development in the Metro Phoenix market.”

Still, the idea that Metrocenter could be transformed into a residential village met resistance from skeptics. Christine Mackay, community and economic development director for the City of Phoenix, told attendees of Valley Partnership’s panel discussion on Jan. 28, 2022, that she pitched the idea of a Metrocenter redevelopment to 25 different developers before a deal was inked.

“There were about a dozen developers that were adamant that Metrocenter could never be redeveloped into an urban village, that it had to be industrial or it was going to fall even further into disrepair,” Mackay recalls.

Betts adds that when word got out that CWC acquired Metrocenter, the company received several inquiries from folks who wanted to put industrial product on the property. “They said, ‘Absolutely not, that’s not the vision for that site.’ Surprisingly, a number of people came back saying, ‘Well, we can fit industrial into your residential urban village,’ which we again said, ‘Industrial is not going to be a compatible use to the European village feel that we want.’”

To realize the aspiration of creating a walkable urban environment, Betts notes that having the full 68 acres of the mall property was crucial. “All the Humpty Dumpty pieces are put back together again, and I have to give credit to Concord Wilshire for not only acquiring the core asset, but also the other anchors.”

With all that land to work with, the plan is to build 2,600 dwelling units surrounding a town center with 100,000 square feet of service-oriented retail. Future residents will enjoy pet-friendly Parks, an amphitheater, pedestrian and bicycle pathways along with other entertainment options. Existing amenities include the 150,000-square-foot Super Walmart, Harkins Theatre, Castles N’ Coasters amusement park, a public library, restaurants and the nearby Rose Mofford Park.

Even with the wealth of nearby activities, Chris Anderson, senior managing director for Hines, explains that the community will be reasonably priced.

Light Rail 

In the past few months, motorists traveling I-17 have seen something novel — a metal track crossing the freeway from east to west erected over the lanes of traffic south of Peoria Avenue. This isn’t for pedestrians or a typical vehicle overpass. It is the groundwork for where the light rail will travel over the interstate and terminate in front of Metrocenter as part of the $401 million Northwest Light Rail Extension Phase II project from the City of Phoenix.

This was not always the plan, however. The light rail station was originally designed to run parallel with the I-17 east of Metro Parkway, but forward-thinking changed that.

“It was the vision of former Councilwoman Thelda Williams,” Mackay recalls. “She was the one who went to the city manager and said, ‘I want that to end at my mall.’ She envisioned what was going to happen for the next iteration of that mall.”

For CWC, the light rail was crucial to what Betts describes as a transit-oriented development. “It’s an opportunity to construct 2,600 units around a transit station that has access to the airport, ASU, and jobs in downtown and midtown,” he says. “People can use the light rail as their primary source of transportation and have a car for other uses. They could theoretically not have a car at all.”

Even though the community has an emphasis on walkability, there will be approximately 4,100 parking spaces programmed in up to seven garage decks for use by residents, visitors and light rail park-and-ride users.

While nothing has been confirmed, Betts says that there are ongoing discussions as to how to remember the legacy of Metrocenter, whether that be a small museum or by incorporating some of the mall’s architectural elements in the redevelopment. As far as a homage to “Bill and Ted’s Excellent Adventure,” Betts concludes, “I hope that would be part of the historical connection.”

Tempe Is Zillow’s Most Popular College Town For 2023

/0 Comments/in /by

Using Zillow Page-view traffic, available housing inventory, price appreciation, sales data and other housing metrics that indicate consumer demand, Zillow analyzed thousands of ZIP codes within the nation’s 100 largest metropolitan areas to create a ranking of the site’s most popular U.S. cities.

“The most popular places on Zillow showcase a few trends we’ve noticed over the course of the year — most notably that affordability has become the chief driver of the market. The Midwest and most Northeastern markets saw relatively small run-ups in home values over the course of the pandemic, and now are still affordable enough for residents to shop in,” said Anushna Prakash, economic data analyst at Zillow.

Top college town: Tempe, Arizona

Part of the Phoenix megaplex, Tempe is home to Arizona State University. Reigning as Zillow’s top college town for the second year in a row, the city is home to the second-highest total number of rental listings among college towns studied

5 Real Estate Tips Buyers Need To Know

/0 Comments/in /by

Real estate, like many industries, goes through cycles. As a lengthy seller’s market has shifted to more of a buyer’s market, new tools are available for those looking to purchase. It’s a refreshing change for buyers who had to endure the headache and heartbreak of being outbid on a home — or never even seeing a particular listing before it disappeared from the market.

The momentum of the market has shifted, and it will inevitably shift back again, so time is still of the essence if a buyer is hoping to take advantage of this current season for real estate. Here are five real estate tips and tricks every buyer should keep in mind as they progress through the process of purchasing a home.

Shop for loans. While you hear news of the Federal Reserve raising interest rates, it is a little known fact that what the Fed does with rates does not directly affect mortgage interest rates.  In fact, we’ve seen mortgage rates come down recently in spite of the Fed raising their benchmark rate. A relatively volatile rate environment means buyers should shop around for loans. Buyers have the ability to take advantage of several different types of mortgages and homeownership programs, which means it would be foolish to go with the first one that is presented.  Your power as a consumer hinges on your ability to shop for the combination of the best rate, the best loan program, and the best service available from your loan provider.

Negotiate price. In a buyer’s market, it’s much easier to negotiate price. Gone are the manic days of bidding wars that reach thousands of dollars above the list price. And since homes are staying on the market a bit longer, buyers are able to approach a potential purchase with confidence by making an offer that most appropriately fits their budget. While there is no guarantee that it will get accepted, it’s worth actively negotiating in the current environment.

Request concessions. An eager seller may consider agreeing to concessions that will allow the buyer to offset some costs. Seller funds can be used to lower buyer closing costs by applying some of the seller proceeds to buyer expenses such as lender fees, prepaid taxes, prepaid mortgage interest and prepaid insurance.  Those funds can also be used by buyers  to buy down the loan’s interest rate. In the end, those funds will lower the buyer’s monthly payment. So, it’s important for buyers to consider where concessions could be suggested as part of their purchase offer.

Leverage the conforming loan limit. Market conditions are making purchases easier for buyers not just because of the pace of the market but due to the adjusted conforming loan limit, which has increased to $726,200. What does that increase mean? It means buyers have more room to work with when it comes to a purchase price and required down payment. With increased buying power, buyers are able to borrow up to that limit with a limited down payment. If purchases exceed that limit, buyers still have options. But this increase gives buyers a little more wiggle room.

Look beyond the rate. Mortgage rates won’t always be as high as they are now, and analysts with the Mortgage Bankers Association expect them to drop to around 5% by the end of 2023. That forecast is valuable information as buyers consider the purchase of a home — a long-term investment — knowing that the possibility to refinance at a lower rate exists in the not-too-distant future.  So, it’s important for buyers to see the big picture of a purchase rather than focus solely on the current mortgage rate when making a decision.

If you’re considering a move, Our team is ready to help. We keep an eye on market trends so you don’t have to. Moving is an exciting time of transition, and we’re ready to help you with it. Contact Me Now so we can learn more about how we can support your needs.

Here’s The Salary Needed To Buy A Home In Phoenix

/0 Comments/in /by

According to a study by Visual Capitalist, a salary of more than $86,300 annually is needed for Phoenix residents to buy a home. Out of the 50 U.S. Metro areas selected in this report, Phoenix ranked 17th in highest salary needed to buy a home in 2022. This statistic can be worrisome to potential home buyers looking to settle in Arizona’s capital.

Increasing home prices across the Valley

The Phoenix metro has become one of hottest real estate markets in the U.S. According to a recent study, in the last 10 years, Phoenix has seen the second fastest increase in home prices when compared to other large metro areas.

If you make less than $86.3K a year, can you still purchase a home? The answer is yes. 

This salary figure is based on the median home price in Phoenix. Therefore, there are plenty of homes that fall below this figure. Another major factor is where you are purchasing in the Valley. For example, homes are going to cost more in Scottsdale than they are in Mesa.

Another variable in affordability is if you are purchasing the home with a partner. With two incomes, you increase the likelihood that you will be able to afford the monthly mortgage cost.

Finally, how much you have saved for your down payment can increase (or decrease) the likelihood that you can afford a home. The bigger the down payment, the less your monthly cost will be to pay back your loan.

When looking into purchasing a home, compare your monthly income with all the expenses you will have with home ownership. 

The total cost of owning a home varies depending on where you live and can include property tax and homeowners’ association fees. Also, factor in your water and electrical bills when calculating your monthly budget limitations. Another costly part of owning a home is the upkeep. Did you purchase a home that needs renovations? Are you paying for someone to take care of your lawn or pool, or are you doing it on your own? Have you considered the cost for pest control? All these factors go into your output.

When preparing to buy a house, the earlier you can get started, the better. Before you decide to buy a new home, improve your credit score and work to pay off your debts. Your credit score determines whether you’re eligible for a lower mortgage rate and your debt-to-income ratio will determine the size of the loan you’ll qualify for. Meet with a mortgage lender and estimate how much of a house you can afford before deciding to purchase. Buying a home can be challenging, being financially prepared is the best way to stay ahead.

10 Hottest Neighborhoods For Home Sales In Arizona

/0 Comments/in /by

2022 was a year that saw wild swings in the residential real estate market. People were on the move, but where were they headed and why? Opendoor analyzed its data to determine the top ZIP codes in Arizona and the hottest neighborhoods for home sales in Metro Phoenix.

Top ZIP codes are identified by analyzing data from the local Multiple Listing Services (MLS). ZIPs were ranked by total homes which went into contract within 90 days of listing in 2022.

Here are the 10 neighborhoods for home sales in Arizona for 2022

  1. 85142 – Queen Creek
  2. 85138 – Maricopa
  3. 85326 – Buckeye
  4. 85351 – Sun City
  5. 85375 – Sun City West
  6. 85122 – Casa Grande
  7. 85383 – Peoria
  8. 85338 – Goodyear
  9. 85255 – DC Ranch, Scottsdale
  10. 85396 – Buckeye

Recently, one-third of people across the U.S. told us they would relocate for a lifestyle change. Whether to be closer to outdoor and recreational activities or to join a close-knit community, the desire to belong remained strong in 2022 as the recalibration of work and personal priorities encouraged people to move away from city centers.

To see where people were buying homes in 2022, we reviewed the top 20 hottest neighborhoods across the phoenix markets. While the top 10 included many repeat favorites, it was the next 10 neighborhoods that were most intriguing. One example: Winter Garden, FL jumped up 5 spots from 2021.

What Phoenix Housing Market Buyers And Sellers Can Expect In 2023

/0 Comments/in /by

The Metro Phoenix housing market has heavily favored home sellers since the start of the decade as more people moved to Arizona and the pandemic scrambled the status quo. The S&P CoreLogic Case-Shiller Index’s most recent release shows that home prices in Phoenix rose 17.1% from August 2021 to August 2022. In the past few months, however, the dynamic has started to shift. Andrea Crouch, president of Phoenix REALTORS, notes that prices are beginning to go down.

“It’s simply a supply and demand issue,” she says. “The iBuyers have evacuated here, so that’s left actual owner-occupants to be the buyers, but the increase in interest rates has made it more challenging for them. That’s the reason we’ve seen that dip, but the bottom is not going to fall out by any stretch. It’s just turning into a more normal market, which is just fine.”

The Phoenix housing market advantage

Stories abound of how in the last two years, would-be buyers faced fierce competition as homes would receive dozens of offers above asking price within days — sometimes hours — of being listed for sale. Jose Vergara, Realtor at HomeSmart says that intense demand and low supply of homes dramatically increased the power of sellers, but the negotiating disparity is now waning.

“Both buyers and sellers have a reasonable shot at succeeding in this marketplace,” Jose says. “When [the market is] balanced like this, everyone knows that they’re going to need to come to the table. We see some winners and some losers on both sides, as opposed to six months ago when the buyers were always on the short end of the stick.”

For sellers, homeowners may adjust their expectations to match the change in bargaining position. The days of every home getting multiple offers just because it’s for sale have passed, but she says that people can still fetch a solid price if the right steps are taken, such as having high quality photos of the entire property.   

“We’re back to having one opportunity to make a good first impression, so you should make sure your home is show ready and have a trusted real estate professional who will guide you through preparing your home for sale,” Jose notes.

Since people are no longer willing to pay tens of thousands of dollars over asking price like they were a year ago, Jose suggests that sellers consider offering concessions such as a home warranty or allowing for an appraisal contingency.

One of the best things buyers can do, according to Jose, is to get preapproved for a loan because sellers are always looking to reduce uncertainty when putting their house under contract. In a rising interest rate environment, he adds that buyers can flex their bargaining power by asking for an interest rate buydown.

“A simple 2-1 buydown costs the seller 3%,” he says. “I’m using rough numbers here, but what that means for the buyer is instead of having a 5.5% [mortgage] loan the first year, they’re paying 3.5%, then 4.5% the second year and 5.5% for the remainder of the loan.”

Inventory growth

One of the reasons that buyers and sellers are on more equal footing comes down to the supply of homes. According to Realtor.com’s residential listings database, the Phoenix Metro area has risen from 4,688 active for-sale listings in January 2022 to 16,778 as of September 2022 — a 257% increase. The boom in homes available has occurred because of the rising cost of borrowing money.

“When interest rates rose dramatically over a compressed period of time — from about 3% into the 5% range within 60 days — it was like buyers went on strike. Sellers panicked because they were thinking, ‘We’ve hit the [market] peak so we need to sell right now,’” he says.

Simultaneously, demand sputtered since buyers who were qualified at lower interest rates could no longer afford the monthly payments for the homes they were considering purchasing, so they backed out. This pushed the average time on market up to 40 days, which is still relatively low compared to years past.

“When sellers had to sift through 30 offers trying to figure out which one was going to get all the way to closing, buyers had to act so quickly they didn’t have a chance to think,” she says. “The chaos wasn’t good for anyone.”

Buyers don’t feel the need to make an offer immediately anymore. People will come into one a house and love it, then say, I’ll get back to you next week. There’s no sense of urgency, Buyers are exhausting all their options before making a decision now, rather than jumping on the first one they see.

Even though more homes are being listed, pace has settled into a more normal range, and that concerns about institutional investors flooding the market with “shadow inventory” are largely unfounded.

Consumers are seeing blips of movement, with units changing hands between hedge funds and big companies such as Zillow, but we haven’t experienced a massive dump of properties within our marketplace that would affect pricing on any large scale. They would have to list thousands of homes suddenly to do that. Unless [these entities] can figure out an exit that makes sense for their investors, they’re not going to do that because Wall Street will beat them up for it.

Looking to 2023, no one can foresee whether home prices will rise or fall, but.. people should focus on the primary function of their home and try to ignore the instinct to time the market. 

Don’t think that the real estate market moves like the stock market. While it has been more volatile over the past couple of years, things will normalize as they have over the past few months. Keep a longer-term approach, especially when it comes to your primary residence, which should be looked at as somewhere to live and enjoy, not strictly as an investment. If you’re comfortable with the payments you’re making on a monthly basis, there’s no reason to fret.

s why homeownership is viewed as a good investment.It is a wealth-building opportunity. According to data released by the Federal Reserve, the average net worth of homeowners is 40x greater than that of renters. Since real estate assets generally gain value over time, homeowners realize gains in their net worth in a way renters don’t have an opportunity to. Net worth is an important variable as people look ahead to or prepare for retirement, and homeownership is one way to give it a boost.

It diversifies assets. While investing in the stock market comes with its own risks and rewards, investing in real estate tends to diversify and balance an investment portfolio. Financial experts suggest diversification as a way to balance risk and they often suggest investing in real estate as well as stocks and bonds in order to promote that diversification. Real estate, as it turns out, is the only asset in the mix that is considered a low risk with a potential for a significant return, over time.

It benefits from appreciation. With time, real estate assets appreciate in value, which is to say they increase. An increase in value equates to an increase in equity which then equates to an increased net worth. When it comes to homeownership, the benefits seem to cascade into one another. As with any other asset, real estate can go through periods of depreciation, but, generally speaking and historically, real estate assets experience  reliable appreciation over the long haul.

It comes with tax benefits. Homeowners are able to deduct mortgage interest on their tax returns, which reduces their taxable income. The Tax Cuts and Jobs Act, signed in 2017, allows for interest deductions on mortgages up to $750,000. And since the average new mortgage in the U.S. is well below that threshold, it stands to reason that many homeowners would realize that benefit.

It comes with predictability. With a fixed-rate mortgage, homeowners know the exact amount they will need to pay every month for housing. As a renter, even with a rental agreement — and especially in Arizona’s sometimes-wild housing market — rents can increase with little warning or properties can be sold unexpectedly. Although homeownership sometimes involves unexpected maintenance expenses, with a fixed-rate mortgage, the monthly payment is never a surprise.

If you’re considering a move, we’re ready to help. We keep an eye on market trends so you don’t have to. Moving is an exciting time of transition, and we’re ready to help you with it. Contact us today so we can learn more about how we can support your needs.

5 Reasons Why Homeownership Is A Good Investment

/0 Comments/in /by

Homeownership has always been considered a piece of the American dream. And there are a number of reasons why, beyond the picture-perfect vision of a yard with kids playing and a dog on the front stoop.

Homeownership is part of the American dream because the other part of that dream is the idea of success. And homeownership, from a financial standpoint, represents one element of success — which means it’s a good investment.

Of course, the real estate market, like any market, will experience ups and downs. But, from a long-term perspective, owning real estate comes with more financial benefits than drawbacks. While purchasing a home versus renting a home often comes with more upfront costs, in the long run, it realizes a greater return.

Here are a few reasons why homeownership is viewed as a good investment.It is a wealth-building opportunity. According to data released by the Federal Reserve, the average net worth of homeowners is 40x greater than that of renters. Since real estate assets generally gain value over time, homeowners realize gains in their net worth in a way renters don’t have an opportunity to. Net worth is an important variable as people look ahead to or prepare for retirement, and homeownership is one way to give it a boost.

It diversifies assets. While investing in the stock market comes with its own risks and rewards, investing in real estate tends to diversify and balance an investment portfolio. Financial experts suggest diversification as a way to balance risk and they often suggest investing in real estate as well as stocks and bonds in order to promote that diversification. Real estate, as it turns out, is the only asset in the mix that is considered a low risk with a potential for a significant return, over time.

It benefits from appreciation. With time, real estate assets appreciate in value, which is to say they increase. An increase in value equates to an increase in equity which then equates to an increased net worth. When it comes to homeownership, the benefits seem to cascade into one another. As with any other asset, real estate can go through periods of depreciation, but, generally speaking and historically, real estate assets experience  reliable appreciation over the long haul.

It comes with tax benefits. Homeowners are able to deduct mortgage interest on their tax returns, which reduces their taxable income. The Tax Cuts and Jobs Act, signed in 2017, allows for interest deductions on mortgages up to $750,000. And since the average new mortgage in the U.S. is well below that threshold, it stands to reason that many homeowners would realize that benefit.

It comes with predictability. With a fixed-rate mortgage, homeowners know the exact amount they will need to pay every month for housing. As a renter, even with a rental agreement — and especially in Arizona’s sometimes-wild housing market — rents can increase with little warning or properties can be sold unexpectedly. Although homeownership sometimes involves unexpected maintenance expenses, with a fixed-rate mortgage, the monthly payment is never a surprise.

If you’re considering a move, we’re ready to help. We keep an eye on market trends so you don’t have to. Moving is an exciting time of transition, and we’re ready to help you with it. Contact us today so we can learn more about how we can support your needs.

Reality Check: Here’s The True State Of The Arizona Real Estate Market

/0 Comments/in /by

When it comes to the Arizona real estate market conditions, it’s important to remember a few truths: Everything, from demand, to interest rates, to supply, has its own season. Arizona is its own unique market. And, forecasts for Phoenix real estate done by anyone outside of the market should be labeled more as conjecture rather than fact.

There is no truer analysis of Arizona’s real estate market than what is being seen and felt here, on the ground, in transactions involving homebuyers, sellers and real estate professionals. It is in those deal-making conversations and actions where the true reality of Arizona’s real estate market lies.

Which means, national reports that attempt to analyze the health of the Phoenix metro market from afar — such as the one recently published by financial services company Goldman Sachs — can be completely short-sighted and sometimes entirely wrong. Perhaps most importantly, that erroneous analysis has the ability to negatively impact the mood and moves of Phoenix buyers and sellers if it goes unchecked.

And since we have seen the ripple effect of the recent Goldman Sachs analysis on the decisions being made by buyers and sellers locally, we felt it was time to pull apart some of the statements that were made and lend data and on-the-ground experience to the picture.

For starters, the Goldman Sachs report suggested that Phoenix is among four markets across the country that will experience catastrophic dips, like the ones experienced in the 2008 crash — a crisis in which Goldman Sachs influenced and helped to create. Back then, as now, they are disconnected from the truth on the ground. Put simply, this type of prediction for the Phoenix market borders on “clickbait,” and fails to have a basis in the reality we are experiencing in the local marketplace. Not only is the report light on reliable data, it is completely disconnected from what local analysts, real estate professionals, as well as finance professionals are seeing in their day-to-day work. Simply looking at the real data can help to stop the spin of the report.

In addition to relying on our earned experience as real estate practitioners in the Phoenix market, we pull insights from the Cromford Report. Prepared by mathematicians who analyze and report data and who are disinterested and uninfluenced by outcomes, the Cromford Report is considered the local gold standard of data-driven real estate market analysis.

In response to the Goldman Sachs report, the Cromford Report was essentially apoplectic, noting that the report was full of “irresponsible” predictions, “weird and unlikely” forecasts and “far-fetched” ideas that “bear little comparison to the real world.” Oddly, the predictions included in the Goldman Sachs report contradict the data it actually cited.

While Goldman Sachs predicts catastrophe for Phoenix, the reality is the market is actually headed in a different direction, according to the Cromford Report data. Of the 17 largest cities in the Phoenix markets, four are buyers’ markets, three are balanced and 10 are considered sellers’ markets. Furthermore, during the Great Recession, Phoenix area housing lost nearly 60% of its value. According to the Cromford report, from May of 2022 to December of 2022, we saw a 13% dip in pricing with prices stabilizing in the new year. The disparity between Goldman’s alarmism and the truism of the data should call into question the veracity of their report.

Demand is increasing, measurably.

As inflation continues to subside, buyers have taken notice of declining mortgage rates and many who were sidelined by higher rates last year are jumping back in. Data indicates the Phoenix market has seen a 28% increase in potential buyers who are getting prequalified for mortgages, which directly translates to more buyer activity in the market.

Perhaps the most compelling backdrop to the conversation surrounding the reality of the Phoenix real estate market is the uniqueness of the continued migration to Arizona. Maricopa County is regularly recognized as one the fastest growing regions in the country, with the greater metropolitan Phoenix area welcoming more than 150 new people to the area daily.

On the most basic supply-and-demand level, the Phoenix housing market is woefully short of supply for the demand it is seeing, in part due to steady migration, and in part due to the low number of single family homes being built. Some estimates peg supply at 50% of demand. As an economic driver, Arizona is pulling people in from other parts of the country at a steady clip, which has to be considered when analyzing the health of the real estate market – after all, if we have far more people moving to the city than we have single family homes available for them, this creates a supply/demand imbalance, which when taken on a standalone basis will create upward pressure on pricing.

It is possible that Goldman Sachs overlooked this detail, along with other crucial data points, by analysts preparing real estate market reports from a highrise in New York City. There is no better picture of the local market than the one seen by local professionals and analysts who have their fingers on the pulse of the market on a daily basis.

And that picture, at this point in time, looks pretty promising.

If you’re considering a move, we are ready to help. We keep an eye on market trends so you don’t have to. Moving is an exciting time of transition, and we’re ready to help you with it. Contact us today so we can learn more about how we can support your needs.