There's a big storm brewing.
No, I'm not talking about what's going on in the stock market, although that's worthy of a conversation too. I'm talking about the actual blizzard that's set to hit New York City this coming Friday in the late afternoon. If you have not heard about it, consider yourself informed. Gothamist has labeled the snowstorm a "blizzard for the ages."
So now that you know about this blizzard, what are you going to be doing this weekend? Stay huddled inside? Maybe hang out in your favorite neighborhood haunt? Check out some real estate? See, that's the interesting thing about bad weather; it keeps us stagnant. It makes us not want to leave the comfort of our homes and neighborhoods. Well, I have some news for you. When the weather is not ideal, that's when you have the best opportunity to snap up a good deal in New York City real estate.
No, I'm not telling you to go outside if there's an actual blizzard dumping two feet of snow on the city. That's an extreme example. What I'm saying is that if you are deal oriented, the cold weather is an excellent opportunity to look at what's out there on the market.
Why is this the case? Simply think about what most people are doing when the weather isn't so great out. They're staying home! That means you have less competition to deal with when you're out on the prowl. In the summer you're dealing with open houses with the apartments getting trampled through by dozens of brokers and their clients. In the winter time, not so much. Sellers and their brokers are happy to see a few friendly faces walk through that door when it's icy cold outside. They're also much more likely to negotiate. Think about it, if someone is selling in the winter time, they're motivated. Otherwise they would have waited for the spring.
So where does this leave you as the savvy buyer? This leaves you in a great position to scope out deals you won't find a few months down the line. Will they be the right deals? Maybe. Maybe not. But as they say, looking is free. But seriously, if it's dangerous out...stay inside.