This is fabulous news if you are a ready, willing and able buyer.

Are You Ready? – Do you have the money to make a down payment? If you want to buy a house or a condo in Brooklyn, NY you can put down as little as 3.5%.  That’s only$21,000 to buy a $600,000 Brownstone in the very hot Bedford Stuyvesant!

Are Your Willing? – Do you have a good credit score that indicates that you are willing to pay your bills on time?  If your credit score is in the high 600s that’s good.  If its in the 700′s that even better.

Are You Able? – Do you have the income needed to buy a home?  A quick rule of thumb just to give you an idea of your buying power (consult with a mortgage professional to find out exactly what you can buy with your income) is multiply your annual income by four.  If you and your spouse’s combined income is $125,000 you can purchase a property worth approximately $500,000.

Buyers – Its Your Market!

Prices in Brooklyn are at 2003 levels, and there are many bargains to be had.  If you are ready, willing and able to buy property, what are you waiting for?  The economic factors we see today we will probably never repeat themselves in our lifetime.  If you’re thinking about buying, now is the time!  Opportunity is knocking.  Give me a call today and let me help you find your dream home today.

1. 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.
2. Interest rates are still low.   According to Bankrate.com, a 30 year fixed rate mortgage can be had for as low as 6.45%. 
3. You’ll find that sellers are much more willing to negotiate on price then ever before.
4. 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. 
5. 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.