Ask Annie: Gratitude in The New Normal
The Rockefeller Center Christmas tree is being installed. The holiday markets at Bryant Park and Grand Central Station are setting up. The lights and holiday decorations along Park Avenue and across the city are preparing for installation. The streets are busier, the subways and busses more crowded, and the grocery stores are doing brisk business. Museums are open, with many offering free admission days. The city now feels a little closer to a new “normal.”
The real estate market is reflecting this sense of vibrancy as well. Closings are picking up, foot traffic at showings (albeit exclusively by appointment and with all health and safety precautions in place) is increasing, and properties which had been taken off the market going back on the market, generally at discounted prices. Last month the Olshan Report reported New York City had 17 sales for properties over $4 million, as we are seeing the market for larger homes gain some momentum.
It is still very much a buyer’s market right now, with some great opportunities for those seeking to upgrade. Many people are specifically looking for outdoor space, additional room for a home office or home gym, or closer proximity to work or schools. Mortgage rates have helped tremendously and remain very low, which has incentivized many buyers. And while the period between Thanksgiving and MLK Day in January has traditionally been a quiet time in real estate, that is likely not to be the case this year. Many people are not traveling during the holidays, and are just now beginning to feel comfortable looking at properties in person.
Obviously, we still have a way to go to return to what we remember as “normal.” However, with a vaccine on the horizon, a good number of city residents returning home, and a seemingly unified spirit of strength you can sense as you travel across the city, there is room for optimism. New York seems to be slowly rebounding. It will certainly be a challenging winter for many of our beloved restaurants (many of which have set up heated outdoor seating pods or semi-enclosed dining areas) and shops, but we will get to the other side of this together. New Yorkers are resilient.
This is the time of year that we tend to reflect and give thanks, and this year, more than any previous years, we can feel lucky and appreciate for what we DO have. As far as I know, my clients and their families have remained healthy and safe. That is something we can be beyond grateful for this year. I appreciate and am thankful for all my clients and friends – and in most cases, they are one in the same.
This difficult year has had one silver lining, in that it has brought many of us closer in touch, with phone calls and Zooms, just checking in and saying hello. To many of us, especially those living alone and avoiding contact with those we love with compromised health, this has been a blessing. I have heard from many of you throughout the past eight months, often not related to real estate inquiries. I feel more connected to many of you than ever before, and for that, I am truly grateful. I got into real estate because I love connecting with people, and that makes working in this field more than just a job. It has created a wide circle of diverse friendships for me, and that is very special.
Wishing you a happy and healthy holiday season. And of course, please feel free to contact me with any questions about the market, buying or selling a home, or just to say hello!