It’s a Great Time To Buy a Home in Brooklyn
Tuesday, August 26th, 2008Yes, despite all the doom and gloom we’re all reading in the papers, its a terrific time to buy a house, co-op or condo in Brooklyn. If you are wondering why, here are a few good reasons.
- Prices have dropped as much as 15% in some areas of Brooklyn from just a year ago. Its a great time to get a bargain on a piece of property.
- Interest rates are still low. According to Bankrate.com, a 30 year fixed rate mortgage can be had for as low as 6.45%.
- You’ll find that sellers are much more willing to negotiate on price then ever before.
- Prices in the areas of Brooklyn that I specialize in have stabilized over the last two months or so. If prices have hit bottom, which many veteran Realtors are saying they have, then prices will hoover for a while and then begin to rise.
- The economy will rebound. It always has, it always will.
Don’t try and time the market. If you’re in the position to buy, but you have been hesitant because of the situation with the economy, don’t sit on the fence. Go ahead and buy!! Before long, you’ll see prices start to rise along with interest rates, and you will have missed the “get a house, co-op or condo for a steal” boat.
p.s. – If you have any Real Estate needs such as buying, selling or renting real estate, and want to work with a real estate professional who will provide exceptional service with a smile, call me today at 718-338-3380, 917-544-2662 or Click here to send me an e-mail.
