Unfortunately nobody has a crystal ball to determine what will happen with property values in the future. People can formulate opinions, but in the end there is no guarantee. With regards to the Bushwick area, before the market started going down there was significant refortification happening there and lots of potential for future value growth. Now prices are very low in the area which makes it very affordable for most buyers. On the negative side, there is also a high level of short sale and foreclosure activity in the area which will make it hard to determine which way property values will go over the next 3 to 5 years.
In my opinion, if you are planning to stay for more than 5 years you should be in good shape.
With regard to the occupancy rate, with two family homes in the area it is quite high, I would dare to say that 97% of the apartments in two family homes are occupied, excluding foreclosed and/or vacant properties.
If I can be of further assistance please let me know. Good luck!
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
Certified Buyer Representative
Senior Real Estate Specialist
Century 21 Princeton Properties