Dear Clients and Friends,
First and foremost, we hope that, amidst the unprecedented changes to all of our lives, this email finds you happy and healthy. Our number one core value at Platinum Properties is being family-oriented, so we hope that you, a valued member of our Platinum family, will feel that you can reach out to us if there is any way that we can be of service.
When it comes to our current clients, we are doing everything we can to help them move, rent, buy or sell with as little slow down as possible while keeping everyone’s health as our number one priority. To that end, we are offering pre-recorded virtual tours of all of our exclusive listings and, when possible, live virtual showings for clients who can’t or don’t want to view additional properties in person. Our library of virtual tours for all apartments available for rent in Manhattan is growing exponentially. Should you wish us to prioritize our next batch of videos to your search, all you need do is let us know. In concert with our attorney and loan officer colleagues in the industry, we are also conducting virtual closings for sales. Like all New Yorkers, we may have hit a speed bump, but we will not be stopped.
Lastly, as the COVID-19 pandemic creates uncertainty across all industries around the world, we would like to share some thoughts on the potential impact of the virus on real estate in the coming months- the struggles, the opportunity and how New York City, the global economy, and our clients, will overcome this.
While there is no doubt that the pandemic is currently causing a slow down in the real estate market, economic anxiety often presents exceptional opportunities to purchase assets, particularly homes and investment properties, at favorable prices. We all have heard that the best time to buy is when no one else is buying. That has never been more true than it is now with interest rates at historic lows. We strongly encourage you to take advantage of this rare opportunity. Our team at Platinum is ready to help our clients navigate this short term dislocation in the marketplace. However, we would be remiss not to mention that in our view this window of opportunity will close sooner than most believe. As the stock market plummets, investors aren’t going to be as comfortable putting money back into stocks, and real estate in densely-populated cities will be seen as an attractive, safer alternative. This change in investing strategy, coupled with the numerous factors mentioned above, provides the underpinnings of a robust real estate market in the latter part of the year and beyond.
Should you wish to discuss any of your real estate concerns, or if you just want to trade tips on working from home without going stir crazy, we trust that you will not hesitate to reach out to us.
– Khashy Eyn, CEO of Platinum Properties