Did You Miss the Boat?

As we move into the final month of a raucous 2020, there are many things to be thankful for. A coronavirus vaccine seems to be right around the corner. The election is over, with a transition of power that appears to be moving in the correct direction for now. The Dow hit 30,000 for the first time ever, and New York City just announced that schools will reopen.

But, if you were to examine real estate market activity alone, you'd never know there was so much to be grateful for. There hasn't ever been a better time to buy, and yet I had three calls this morning from buyers who may have “missed the boat.” Maybe we'll see a more robust return to normal after the holidays, but if buyers were smart, they would be negotiating and putting property into contract RIGHT NOW!

The opportunity to buy has never been better, and here's why: Interest rates are hovering around 2.5 to 3 percent. Listings are going into contract anywhere from 5 to 15 percent under their adjusted COVID pricing. The rental market has about 5 percent visible availability and a shadow inventory of close to 20 percent. The cards haven't been in the buyers' or renters' favor like this in the 20 years that I've been selling real estate.

It's the darndest thing, but when the streets are on fire, the buyers run to the hills instead of turning back around and buying, buying, buying. There is a small group of smart buyers who took advantage of our current situation. In five years, when they go to sell, they will be extremely happy as droves come back into New York City and drive prices back up. Invariably, that's what's going to happen in the next six to 12 months. Then buyers will be asking themselves, where were all the discounts I've been reading about!?!?

So if you're a buyer — buy.

News & Local Happenings

Compass expands to Hawaii

Compass has announced its expansion to the State of Hawaii. Top agents from O’ahu, Maui, Kaua’i, and the Big Island have joined the firm.

Read the full article here by Real Estate Weekly.

BK & NYC Heated Outdoor Dining!

With Winter on its way and outdoor dining here to stay for the holidays, take off your coat and dine in comfort inside a heated tent!

From Bed-Stuy to the UWS,this article has got you covered with a list of establishments that offer outdoor dining with heaters to keep you warm.

Holiday Lights @ The Bronx Zoo

If animal lantern safaris, ice-carving, costumed characters, and stilt walkers sound fun to you, then you'll love this year's annual outdoor Holiday Lights event at NYC's own Bronx Zoo!

Tickets must be ordered in advance this year to allow for social distancing and cost $35 for adults and $23 for children. Check out available dates here!

Lifestyle Tips & Tricks

48 Beautiful Holiday Decoration Ideas

Nothing welcomes the holiday season quite like a well-decorated, festive home. Whether you prefer traditional red-and-green decor or favor a more subtle use of gold and white, you can infuse every room in your home with holiday cheer. Take decorating inspiration from VERANDA.

The 40 Best Subscription Boxes to Gift

Not only will the personalized boxed gifts show your loved ones that you're thinking about them, but they're sure to last well beyond the holiday season. Harper's Bazaar has made a list of the perfect subscription boxes to choose from, from fashion and beauty to food and fitness.

14 Winter Vacation Ideas in the U.S.

A winter vacation is a great cure after the holidays. Where to go is the question, with so many options and destinations. Here are Travel + Leisure's top 14 winter vacation ideas for destinations around the United States. Whether flying or driving, there's sure to be wintery fun within your reach!