EvelineD03, Home Buyer in Brooklyn, NY

Interested in buying property in desirable area of Brooklyn but don't know where to start!

Asked by EvelineD03, Brooklyn, NY Tue Mar 5, 2013

I am interested in buying property in a desirable area of Brooklyn, including: Prospect Heights, Ft. Green, Lefferts Garden, Park Slope, Clinton/Cobble Hill, Carroll Gardens.

I am interested in a multi-family for less than 450K, such as a 2 bedroom over 2 bedroom. I am likely priced out of all the areas mentioned above with those requirements, except Prospect Heights or Lefferts Gardens - is that right?

The other option would be a 1 bedroom co-op with low maintenance in one of those areas for less than 200K - preferably closer to 150K. Condos, it seems are just impossible to find or outrageously expensive. Again I feel like within that price range the best I get is probably Prospect Heights, Lefferts, and maybe Brooklyn Heights?

Thoughts?

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Answers

8
Christopher…, Agent, Tarrytown, NY
Sun Mar 17, 2013
Hi, Brooklyn has become the hottest market in the city over the past few years. That means prices have skyrocketted as well. I lived in Park Slope 10 years ago and prices have doubled in some parts since then. I would suggest connecting with an agent in Brooklyn that will be patient with you, show you what your money will buy before you go out, and guide you accordingly to closing.

Christopher Pagli
Licensed Associated Broker
Accredited Buyer Representative
William Raveis Legends Realty Group
1 vote
Anna M Brocco, Agent, Williston Park, NY
Tue Mar 5, 2013
If purchasing with a mortgage, be aware that a mortgage pre-approval letter is required in order to determine your price range and for any offers to be taken seriously, therefore visit with any licensed loan officer; also choose an agent to work with, he/she will be your best guide.
1 vote
David Shapiro, Agent, New York, NY
Tue Mar 5, 2013
The multi family option will be a little rough, but you should be able to find a very decent 1 bedroom co-op for under 200k slightly further into Brooklyn. I'd try looking in Ditmas Park(upcoming neighborhood), Kensington, Midwood and Sunset Park.

- David Shapiro, PrestonNY.com
1 vote
Alison Hillm…, , San Francisco, CA
Thu Mar 7, 2013
Hey there,

Since you are starting from scratch and unsure where you want to live, I'd recommend you investigate some of the great tools we have available on Trulia:

http://www.trulia.com/real_estate/Brooklyn-New_York/

http://www.trulia.com/real_estate/Brooklyn-New_York/market-trends/

http://www.trulia.com/real_estate/Brooklyn-New_York/communit…

Hope this helps,
Ali, Community Manager
0 votes
Luke Constan…, Agent, Brooklyn, NY
Wed Mar 6, 2013
Good morning EvelineD03,

Everyone would love to live in those areas for 450K, but, it's highly unlikely. I have been doing real estate for 15 years and know ALL of Brooklyn. I canshow you some other beautiful options in some really nice neighborhoods.

When buying it's always good to be flexible and open minded.

Give me a call anytime.

Luke Constantino
Realtor
Coldwell Banker Reliable
(212) 300-3919 lukeconstantino@gmail.com
7428 5th Avenue Brooklyn, NY 11209
0 votes
Ameer Lowe, , New York, NY
Tue Mar 5, 2013
Hi Eveline,
Starting a property search can be very overwhelming. I would like to give you some tips and give you a better Idea of the market in the areas you are seeking and then come up with a winning strategy for you! please contact me.

Respect and Honor,
Ameer Lowe
347-688-2675
0 votes
Michael Denn…, Agent, Queens, NY
Tue Mar 5, 2013
A local realtor experienced in your areas of interest is best qualified to address home prices, but I can certainly speak to the question of where to start the process. I recommend that you get preapproved by a licensed loan officer at a reputable direct lender. Use the Find a Pro tab here on Trulia, which allows you to review profiles of mortgage professionals and recommendations from past clients. Once you select a loan officer the Department of Financial Services website will allow you to confirm their license number. I have extensive experience helping first time buyers to become successful homeowners throughout NYC and the suburbs with flexible and affordable fixed rate mortgage solutions. I am available to meet in Brooklyn or in my nearby Long Island office. For more information or assistance, contact me directly at 917.699.0183.

I value your feedback. Please hit the thumbs up button, if my reply was helpful.

Michael Denniston l Cell: (917) 699-0183
Residential Home Funding, Corp.
Licensed Mortgage Loan Originator l Sales Manager
6901 Jericho Turnpike Ste. 219 | Syosset, NY 11791
Main: (516) 605-1733 | Fax: (888) 881-2557
NMLS # 24076 | Company NMLS # 34973
Mdenniston@RHFunding.com
http://www.rhfunding.com
.
0 votes
Kathryn Lilly, Agent, New York, NY
Tue Mar 5, 2013
I am sorry to tell you, but you are priced out on all counts in the neighborhoods mentioned.
In fact I would say you are pretty much priced out of just about all of Brooklyn, NY
The market has turned quicker than most buyers were expecting, inventory is down because sellers were not willing to listen to low ball offers and rents have been high so sellers have rented out and are waiting out the market.
This has diven up prices and now tenants are tired of paying high rents, interest rates are still low, but edging up...pushing the market up! Up! Up! in just about all markets in Brooklyn.
Yours,
Kathryn Lilly
Realty on the Greene, LLC
718-858-7600
0 votes
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