Episode 22: Thanksgiving Special: State Of The Market With James Prendamano
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CEO James Prendamano flew solo for this special edition Thanksgiving episode of the Casandra Properties podcast. As always, Casandra Properties is thankful for our listeners, our clients, and the community at large which we serve, Staten Island. Thank you.
In related exciting news, our CEO James Prendamano is now a published author, having contributed to the book Stay Calm – along with 11 other Staten Island thought leaders and business leaders, who not only survived the global pandemic, but have emerged stronger. The book will be released on Amazon on Monday, November 30, 2020. All proceeds from the book will be split between two amazing Staten Island Non-Profits, The Carl Bini Memorial Fund and the Minority Women Business Association of Staten Island.
The End of 2020 (Finally.)
Heading out of a year in which many folks consider the worst year in modern history thanks to a global pandemic, CEO, broker, and podcast James Prendamano shares his analysis of the Staten Island real estate market. Prendamano has an upbeat and steady forecast for the next 1-3 years for Staten Island and beyond, as we continue to make progress in the collective fight against the Covid-19 and its impact on real estate and our lives.
As James Prendamano had forecasted alongside SIBOR President Sandy Krueger at the end of August 2020, Staten Island real estate is, in fact, in good shape – due to a backlog of inventory and deals that were essentially frozen in time as deals were halted, along with new movement in the market. We are poised for growth, says James Prendamano, “No longer the forgotten borough. We are a viable option.” And during the peak of the pandemic in April and May 2020, real Estate transactions were put on pause, but MLS kept the clocks running. As for the figures below, that must be taken into account. It’s not an apples to apples comparison.
James Prendamano shares his insight on the commercial in residential real estate sector as per data from October 2020 and October 2019, as previously reported by SIBOR – and once again – he stands by Staten Island as a viable alternative to the city – for those who want fast access to the city, but also are looking for a good amount of space, as we continue to remain masked and six feet apart.
Where is Real Estate Headed Over the Next Few Years?
Casandra Properties’ James Prendamano is optimistic for both Staten Island residential real estate and real estate in general, but he also notes that we’re not entirely out of the woods yet. According to the experts, says Prendamano, with three vaccines currently on the forefront, things look good. The vaccines coupled with a 50% herd-immunity rate that virologists say we’ll eventually get to – we will be looking at a late 2022/early 2023 full recovery, or ‘ the return to normalcy,’ as it were.
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