As the CEO of a real estate company in the Mid-Hudson Valley of NY, I read with great interest this Sunday’s NY Times Real Estate section cover story; “The Bonus Bounce.” Opinions on bankers receiving large bonuses for 2009 profits aside, I wanted to learn what, if anything, was happening in NYC real estate market at the time of year when it is historically impacted by city dwellers receiving large annual bonuses. As goes NYC, so goes most of the Hudson Valley.
The thrust of the article was that bonuses of cash and/or stocks to many bankers are anticipated to be large. Most, however, are keeping a low profile about their good fortune at a time when so many are hurting financially and are surely not spending extravagantly. Bankers are looking for good values for their money, and safer investments than some made 3-4 years ago, at the market’s peak.
While many are upgrading their primary residences, there is also a good number who traditionally have used bonuses to buy a weekend retreat, or a dual residence outside the city; splitting their residence between two homes somewhat evenly. As evidenced in my three decades of experience, in the past most have looked in areas that friends or family suggested, or already resided. Little exploration actually happened with most baby-boomers, myself included when I located in the valley.
Today, generation-X and the next are more committed to comparing different communities to find the perfect lifestyle for their needs and dreams. The uniqueness of the community search option at www.bestplace2move.com offers such prospective purchasers the opportunity to program their wants and needs on the site, and be given profiles of matching communities up to three hours from Central Park. Whether looking to expand their family outside the city limits, find their dream weekend retreat, or create a dual-residence in order to work from both the city and “ the country,” at bestplace2move.com site visitors have the opportunity to explore hundreds of unique communities that match their personal criteria. In some cases the community may never have previously been on their radar screen, as many successful NYC residents have moved to the city from other places and thus know little about the areas surrounding the city limits.
Harris L. Safier, CRB. CRS. GRI.
Principal Broker – CEO
BestPlace2Move.com
Tags: www.bestplace2move.com
