Please Contact:Tony Lara
Licensed Real Estate Salesperson
Charles Rutenberg Realty
127 East 56th Street, 4th Floor
New York, NY 10022
(212) 688-1000 x 435
West Village is one of New Yorks most desirable neighborhoods and in the past few years there has been very strong demand in that area.
To answer your other question, I think itâ€™s always a good time to buy if the reasons are right. Like Krobinson said, if you have been waiting for the market to bottom out, well you already missed that boat and itâ€™s time to act.
Now, if the apartment is priced right, you have the money, building is financially stable, carrying costs arenâ€™t too high and apartment is close to transportation. It's a great time to buy. You can always rent it (check building sublet policies) there will always be NYU students willing to drop big money.
It really depends on your reason for purchasing.
If you plan to finance, have great credit & you're financially comfortable, take advantage of the low interest rates.
If you've been sitting waiting for market to hit rock bottom, I'd say it's a good time. Inventory of quality properties has gone down a bit & there is more demand. So, we all know what happens when there's more demand than supply. I'd say now's a good time to get in the game.
If you are an investor looking to purchase & rent out the apartment, rents are up & I think it's a great time to invest... try for a 1 bed if you can swing it.
If this is a purchase for yourself to live in for a few years & it's what will make you happy, put your money into your happiness & something tangible; property.
If you are looking to buy & flip, I don't recommend it.
That there is more money made in a BEAR MARKET, than a BULL.
You need to do what you feel confortable with,
not what some one else says,
Good luck and May God bless