3rd Quarter Doom and Gloom Statistics from SRI for New York

According to SRI (The Siena Research Institute) New Yorkers don't put much faith in the real estate market unless they are buyers . Today's press release from NYSAR (New York State's Association of Realtors) New Yorkers expect the overall real estate market and the value of property to remain virtually unchanged over the next year. Consumers continue to see now as a very poor time to sell, but a good time to buy.

International buyers are coming to the USA in droves taking advantage of the weak dollar and our current bargain prices. In the past couple of months I've personally worked with more buyers of five nationalities ready to snap up a bargain from a town home on the Hudson River in Piermont, Rockland County, NY to large farm properties upstate and everything in between. The majority of these buyers have the added advantage of bringing cash, causing nothing but relief for the lucky sellers whose property attracted these canny overseas investors.

So my advice to sellers, is not to give up when you read the statistics from SRI. There are many homes that are selling, we as Realtors just have to think outside the box and not just offer a few photos and a paragraph on the MLS and pray that we'll catch a live one! Yes, we actually have to work for our commissions these days to make a decent living. My day starts early around 4:00 am to catch the European and Eastern Block countries and ends late as I hit the Asian Markets. What am I doing at those times? Networking with my fellow associates and clients around the world. Sharing my listings, our current market conditions, local information and whatever they need to convince buyers to jump aboard a flight New York bound. Social networking globally has revolutionized my life and has kept my business busy in these difficult times. My branding and website reflect the international aspects of what is working for my clients both buyers and sellers also and the best thing I ever did was to invest in the CIPS (Certified International Property Specialist) designation which opened up a whole new world of possibilities, if you'll excuse the pun. NY Congressman (D) Chuck Schumer and Mike Lee (R-UT) are getting the drift by considering a bill allowing visa's to be granted to international buyers who purchase US homes to boost our ailing market. Also being considered is allowing illegal immigrant workers to gain legal status by buying property.

So if you want to continue to be depressed feel free to read the SRI report, but personally I think you reap what you sow. Stay positive, think about the international possibilities and know that your home has no boundaries if you think globally when selling locally.