bio: peter comitini »

market knowledge
Manhattan market report »
townhouse report »

follow peter comitini

peter's newsletter
sign-up here »

the topics
blogs & sites
design
downtown
economy
for sale or rent
green city
headroom
market reports
professional
property geek
questions & answers
tips for buyers
tips for sellers
videos
newsreal bookmarks
peter's photos


real estate services
home page
selling your property
buying a home
browse listings
recent press
contact peter


recommended
design & ideas
green design
neighborhoods
nyc resources
real estate
real estate: overseas

the archives
April 2014
November 2013
April 2013
February 2013
January 2013
June 2012
April 2012
March 2012
February 2012
January 2012
December 2011
July 2011
February 2011
January 2011
December 2010
October 2010
July 2010
June 2010
May 2010
February 2010
January 2010
December 2009
October 2009
June 2009
May 2009
April 2009
March 2009
February 2009
January 2009
December 2008
November 2008
October 2008
September 2008
August 2008
July 2008
June 2008
May 2008
April 2008
March 2008
February 2008
January 2008
December 2007
November 2007
October 2007
September 2007
August 2007
July 2007
June 2007
May 2007
April 2007
March 2007
February 2007
January 2007
December 2006
November 2006
October 2006
September 2006
all archives

selling your property: buying & selling simultaneously

One basic situation many people face is how to sell their home while conducting a search for the next one. What’s the timing of the deals need to look like? Should I be looking first? Do I need to close on my property before buying a new one? What’s the bottom line value I can expect to take away and spend on my next real estate investment? Should I do it now, or in a few months? From what I'm hearing about a real estate 'bubble', I'm not sure if the time is right to do it...

“Peter’s amicable personality and patience, with his straightforward, but very unique approach, made the entire process much easier. I think sellers and buyers need a broker/therapist, when going through the process.”
-JOE BLOCH, ILLUSTRATOR/DESIGNER

There are no simple answers to these questions, but I'm pleased to let you know that all of my client's who've needed to trade-up, downsize or just find something better, have made it through fine so far. My experience is that correctly priced and promoted homes are still selling well. In 2006 the vast majority of the transactions, which I've personally handled, have been at or above asking prices, and the others within 3.5%. The pace is less frantic than it was a year ago, which will make it an easier process for you overall. You'll have a better selection of available new homes now too.

Real estate is by definition a local market; Manhattan ain't St. Louis or Phoenix. Rumors of a housing 'bubble' in NYC are exaggerated in my opinion. Not only are interest rates relatively low and stabilizing, but we have a unique position as the country's economic center of gravity, as well as a global one. The fundamentals of our market are different. It's international, and homes average over one million dollars, not the couple of hundred-thousand dollar national average, that we often see quoted in the press. I'd suggest that it is a very unique place indeed, to demand almost five times the rest of the country's value. Interest is strong in properties that have a fair perception of value, to a person who actually has a need and desire to move. Speculators and bottom feeders are still having a pretty tough time making sense of why they are not making a fast killing here.

So should you be looking for the next place or putting your home on the market first? The short answer is probably a yes to both. Developing a realistic expectation of the market is something that I can help you do on both transactions. Each parcel of real estate is quite unique and understanding the market context of a particular home is critical to achieving your goals for timing, profit and liquidity; every person's scenario will be a little different. Keep in mind that if you have a home to sell, almost no owner will agree to signing a contract with any sort of contingencies about selling your current residence. Financing strategies for your purchase and superior marketing of your home are going to be crucial to your success. Requesting a Market Analysis is a the first step in well informed process based your specific goals. You're invited to tell me about yours: 212.444.7844.


email this print

email this to a friend:


recipient's email address:


your email address (required):


we don't collect or share email addresses

your personal message (optional):

a link to this page will be included with your message