As one year ends and a new one begins, talk turns to New Years' resolutions—everybody has a wish or a plan for how they'd most like 2008 to unfold. For some, a happy New Year includes the fortitude to stick to a sensible diet (finally!). For others, it's going to the gym, quitting smoking, or finally telling great-aunt Mabel where to get off.
For folks working in New York City's dynamic real estate market, wishes and hopes for the next year are a little broader. They run the gamut from peace on earth to personal and professional development, with a side order of, well, order.
Extremes are something New York real estate industry players know a bit about, from market volatility to record-breaking prices. Given what's going on with home prices and mortgage woes in other parts of the country, hopes of stability and steady gains were voiced by many of the professionals polled for this article.
Adelaide Polsinelli, a broker with the Manhattan-based Besen & Associates Platinum Team and president of her Fifth Avenue co-op building, says that finding a new super for her building is her number-one wish for this year— but that as an investment sales broker, she "hopes that no one loses money on their real estate investments as we navigate through these choppy times, and that all my fellow brokers and investors enjoy a healthy happy and successful 2008."
Barring some massive and unforeseen shift, it's likely she'll get that wish. Contrary to the bad housing industry news in markets all across the country, the New York City housing market—and Manhattan in particular—has stayed robust, despite the subprime mortgage debacle shaking other parts of the nation.