Vanessa, it depends completely on where you might be buying. If you were to buy in Colorado Springs or Denver in the next 12 to 18 months, it would probably be a very good decision. The forces keeping properties on the market are largely inventory related which means that supply and demand now favor you as a buyer. But longer term (and 24 to 36 months isn't long term in real estate, but by comparison to your timeframe it is), the market should be improving due to jobs, present low unemployment, growth, etc.
If you were speaking about our local market right here in Colorado Springs, this fall would be a superb time to buy. Inventory levels are actually starting to flatten out after 18 months, buying activity is starting to pick up but sellers that have sat are making corrections to their price. The result is that buyers are moving up in price and sellers are moving down to meet them, it's like you can watch the tug of war finally get decided on a line graph. So a buyer coming into the fall market will have lots to chose from and sellers looking for someone to please help them unload the property. By the same token, many listings will just simply expire or remove from market and the deficiency of listings will help stabilize the market for some very moderate appreciation (2 to 5%) in 2008. We're at pretty close to a flatline year to date on appreciation, nothing up, nothing down, and that's despite being 21% heavier in listings. That says the fundamentals are here for the long-term. Looking for those characteristics, or the absence of those, in the market you're looking at, would be a good idea to discern when is a good time to buy... more
Prospect Heights is one of those Downtown Brooklyn neighborhoods that has an increasing appeal because of it's central location. Pricing is still strong and demand is high. The product that this neighborhood offers is comparable to most Downtown Brooklyn neighborhoods. Sales are up and inventory sells quickly. Now that new condo development has come to the area, the population should see nice growth.... more
bushwick popularity is growing into one of brooklyns great places to live its close to nyc city has excellent tranpotation shopping along broaway bushwick has a mix of brownstone multi family homes prices have stabilized demand is strong... more
Still very soild ,just taking alittle more time for homes to sell, due to extra inventory on the market. The supply is more than the demand. Buyers are taking longer in making up their minds and submitted offers,therefore homes are on the market longer.The average time homes are on the market is anywhere between 4 to 6 months.... more