The Market Will Change But The Sky Isn't Falling

It happened to me... I saw a headline about a real estate market crash and clicked. It didn't take long to see the article was misleading and just click-bate. The article did have one good point however, we have been in an extraordinary market but WILL see a shift. 

While being mindful that our area has less drastic shifts then the rest of the country, we are starting to see changes in the market. Prices continue to rise, but at a lower rate, indicating a shift. Alarmist "experts" are predicting a sudden drastic fall in market however, breath deep, such articles are click-bate. The market WILL shift. However, when it does, the estimation for our Long Island and New York area, is a slow shift in about six months to a year. You have to look inside the market place door to get a full view.

As it currently stands, New York home appreciation rates increased by an average of 2% over in the past year, and national rates at 3.7%. Massapequa Park values rose 4.9%. When the shift happens, it will start with a decline in home value increases, but it is very unlikely that in our healthy Long Island neighborhoods that there would be a crash. So, take heart, and make sure you are getting your information from a credible source.

Also, each area, property, and individual's circumstances are unique to THEM! There is no one solution for all.

Interested in a quick overview of a particular neighborhood? Visit: http://www.mlsli.com/pages/housing-stats 

Want your home's true value? Visit: https://www.frankiemustoluxuryhomes.com/home-valuation/ 

I hope this short and sweet article was helpful! For a thorough look at your real estate needs, reach out! Put my 25 years of experience here on Long Island to work for YOU!