Holablesss, Home Owner in East Flatbush, Brook...

whats the out look for the next five years for east flatbush

Asked by Holablesss, East Flatbush, Brooklyn, NY Tue Jan 11, 2011

Help the community by answering this question:


As an agent that has worked the East Flatbush area full time for over six years straight, I can tell you that the prices are inching up slowly again. Also, we are now quoting higher insterest rates in the 5 percentile for the new year. But the fact is, no one knows what will truly happen in five years in politics, natural disaster, employment, consumer confidence, etc. Think about it, the people didn't know the market would sink and stay sunk for so long. Let's just cross our fingers, eyes and toes and hope for the best.
Web Reference: http://www.RhondaHolt.com
0 votes Thank Flag Link Thu Jan 20, 2011
There really is no crystal ball! There are reports that interest rates will be higher and inventory will be less by 2012. This being said real estate prices in East Flatbush as it is in most Brooklyn neighborhoods are conected to the job market and pay wages. East Flatbush is a fine neighborhood close to transportation an I believe it will strive in the next 5 years.
0 votes Thank Flag Link Fri Jan 14, 2011
Unfortunately, none of us can answer with accuracy, as none of us knows where the market will head tomorrow or down the road, what we all know is today....
0 votes Thank Flag Link Wed Jan 12, 2011
Dear Homeowner:

The out look for Brooklyn/East Flatbush over the next five years is excellent in my opinion.

I base that on the following factors...
1) The market has already been receeding since 2007 and is due to turn within the next several years.
2) There is always strong demand in Brooklyn, and this demand will only increase when the market improves.
3) The market has improved with regard to sales volume during the past year.

Of course this is subject to our economy as a whole remaining stable. If it does not then we will all be in trouble regardless if we own a house or not!

If I can be of further assistance please let me know. Good luck!

Mitchell Feldman
Madison Estates & Properties
(718) 645-1665/ (917) 805-0783
0 votes Thank Flag Link Wed Jan 12, 2011
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