Irene Sarri: an invaluable asset in NYC’s real estate environment

by Pandora Spelios

Dynamic, dependable, and highly professional, Irene Sarri has followed her passion into real estate. Her international exposure and extensive educational background are complemented by her strong business acumen and intimate knowledge of New York City. This makes Irene an invaluable asset in the real estate environment.

Sarri provides her distinct clientele with unparalleled resources to best service their real estate needs in residential and commercial deals. She works with sellers, buyers and investors.

Irene holds the certification of the Real Estate Negotiation Expert and has been Awarded as Top Producing Agent on various years including 2023 and 2022.“I realize that my success is ultimately determined by the legacy I leave with each and every one of my clients.”

Τhere is a lot going on lately with the decision of the Fed to lower the interest rates significantly. Can you explain why?

This month is of particular interest as the US central banking system—the Federal Reserve or the Fed made a big move and adjusted lending rates by 50 percentage points. The central bank is trying to keep inflation ideally around 2%. After the pandemic, prices have escaped and finally exceeded 7% in 2022. The Federal Reserve has made gigantic efforts to fight persistent inflation by raising interest rates 11 times in 16 months and keeping them there for over a year. But what started to worry the government now is that the new market positions recorded in America for the month of August were counted at 142,000, much less than the 210,000 a year ago. In an attempt to stimulate the market, the Fed announced at its September meeting that it would cut lending rates for commercial banks by 50 basis points. The move marked the first rate cut since the start of the pandemic.

Αre mortgage rates directly related to interest rates, what does the reduction in interest rates mean?

Mortgage rates aren’t directly correlated to interest rates, but 10-year Treasury yields — a better barometer for mortgage rates — have been falling in anticipation of rate cuts. Lower lending rates mean lower borrowing costs for consumers in the form of mortgages, cars and credit cards. They can also create an incentive for businesses to grow or even hire. Lowering interest rates is designed to stimulate spending, lead to a stronger economy and ultimately higher employment and a more competitive labor market.

Can you tell us what your clients are sharing with you these days?

They will often say things in these lines: Should I wait longer for interest rates to drop further before we buy our house? Since the interest rates are to drop further, why rush to buy now? My responsibility is to educate them that unfortunately, we have to expect that the fall in mortgage rates will release the number of buyers who were sitting on the sidelines all along and that will result in the prices to rise! if you’re a seller, the market is hungry for new homes for sale and sellers are getting their full asking price, and sometimes higher if their homes are fairly priced. if you are a seller and the next day you sell your home, you become a buyer in a new area, hurry to get ahead of the rising prices in the housing markets.

What are the traits of a seasoned real estate broker?

My belief is that you can only be a professional real estate broker if you truly love what you do as is the case with every field. A broker should be close to the pulse of the market, monitor the activity of the market and have a good understanding of the factors that influence the economy and the economic decisions taken by the government. One needs to be passionate with investment, ownership and the idea of a house as a shelter, a cocoon in one’s life. Our experience and expertise should be shared with our clients so they in turn can make educated decisions regarding the sale of their home, a potential investment or purchase. I would like to thank all my clients for their loyalty, love and trust over the years. On a personal level, 2024 is one more successful year with transactions in both the residential and commercial market. I would like to thank all my clients for their loyalty, love and trust over the years. On a personal level, 2024 is one more successful year with transactions in both the residential and commercial market.