That's an excellent question I'm formally of Prudential Douglas Elliman and they come out with their yearly market report. If you read it and read Corcoran's and Halstead you'll get three different answers. NYC prices will continue to go down, I'm not saying rock bottom "but" there's room for more adjustments. I have an accepted offer in Inwood for a one bedroom at $205K, it was listed at $225K, so you can find an apartment to fit your budget. I'll be delighted to assit and please, if you havne't contacted a mortgage broker please do so. I'd like to refer (full discloseure I don't reevieve compensation of any sort for my referalls) to Patricia Lavigne. She's been in the business of approrx 18 years, she's with Manhattan Mortgage at plavigne@manhattanmortgage.com or 212-745-9012. Good luck, I'm here if you need me and have a safe & healthy new year!!! Lastly, I ran a quick search for units in your price range and there's several interesting ones. I'm here if you need me, cheers.

While it isn't possible to predict the future, the general consensus is that this is an incredible opportunity for buyers. Nationally, the price of homes sold has increased for the past two months, and Manhattan usually lags only slightly behind in real estate trends. Prices are not falling, but those who need to sell are often very willing to negotiate. If you are a first time home buyer, you can take advantage of the first time home buyer's tax credit, but you have to act VERY quickly. Mortgage rates are great. There are many great deals to be had, and a lot of inventory to look at.

I am an agent at Elika Associates, Manhattan's only firm that works solely for buyer clients. Please contact me if I can assist you further. I would be happy to send you a report of available properties that match your criteria, and any commission is paid by the seller at closing.

Best Regards,
Alessandra Marx
alessandra@elikaassociates.com
http://www.elikaassociates.com/alessandra-marx