The Real Deal New York

From the March issue: It has been a while, but Manhattan home buyers seem to be getting the upper hand, with prices starting to soften and qualified buyers taking their time to shop around. “I think the time of overpriced listings is gone for now,” said Lawrence Rich, vice president and associate broker at Prudential Douglas Elliman. “For the first time in a long time, buyers have been able to negotiate a bit.” The room to negotiate coupled with lower interest rates are making for “favorable conditions” for buyers, he said. “The negative,” he noted, “is that getting financing is more difficult.” Other pros like Steven Ganz, a broker and executive vice president at CORE Group Marketing, had a similar assessment.