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Market Conditions in 11217 : Real Estate Advice

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  • Local Info0
  • Home Buying21
  • Home Selling2
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Activity 106
Mon Nov 8, 2010
Annamaria Diangelo answered:
Hi katharyn, you can check Type address and zip code will help with your search! You can also seach Department of Finance.

Good Luck

Annamaria Diangelo
0 votes 4 answers Share Flag
Wed Oct 6, 2010
Ed asked:
Sun Jan 6, 2013
Charles D'Alessandro Sr answered:
Yes it does indicate a strong buyers market. If you are renting you can research how many apartment are for rent in any area and this will determine the strength of the rental market.
0 votes 5 answers Share Flag
Mon Sep 27, 2010
Anna M Brocco answered:
Much will depend on the location you would like, size, wants, needs, etc.--consider working with an agent of your own, he/she can inform you regarding properties that will suit your needs, schedule showings, etc. ... more
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Thu Oct 9, 2014
Tatiana Cames answered:
Hi James,
550 psf would be an unrenovation property. $1000 psf is at the top of the market. Somewhere around $700 psf is the average for Brooklyn Heights. Are you interested in receiving some listings to review?
Tatiana Cames
... more
0 votes 6 answers Share Flag
Tue Aug 31, 2010
Mitchell Feldman answered:
Dear Bedstuywllst:

Bedford Stuyvesant is a very large area and prices can vary greatly form one end of the neighborhood to the next. In addition to that in some places you find many short sale and foreclosure type deals that sell for very low numbers that can cause the median sales price to go down.

There are brownstones on the market right now for even less that $393,000.00. Of course the prices will vary based on size, actual location and condition of the property.

Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665
Cellular: (917) 805-0783

Do you also have a property you are selling? If so I would like to find out more about it, perhaps I can help you sell it. Please contact me and we can discuss all this further. Thanks and good luck!
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Sat Jul 17, 2010
Madeline Padovano answered:
Sun Jul 18, 2010
Don Tepper answered:
I don't know if you mean doing it on Trulia, or just in general.

In general, the MLS can generate all that information and more.

Just a few things to watch out for: At certain times in the economic cycle, one type of housing typically will outperform another. So it's reasonable to look at trends during, say, the past 6 months to see what's been doing better or worse. And if economic conditions continue about the same, those trends probably can be extended a bit into the future.

But it'd be dangerous, and not too accurate, to assume that the segment that dropped the quickest during the downturn would be the one to recover the quickest. Or that the trends today will be valid 18 months from now.

It also helps to look within price ranges. In Brooklyn, it may well be different, but for example: Where I am, the biggest drop in prices generally was in the lower-priced homes (former renters who'd stretched themselves to buy, and used all sorts of tricky and undesirable loan products) and in the upper-priced homes (where there was thin demand to begin with). The mid-priced homes actually retained most of their value.

And look out for temporary distortions. The first time home buyer tax credit, for example, generated a lot of buying interest, but much of it was concentrated at the lower price points. Home sales have slowed way down since April 30, but unevenly across the board--with (understandably) the greatest hit being taken by those lower-priced properties.

So, while what you're asking for certainly is available, just understand that there are a lot of mini-markets and micro-markets within the broad range of, say, condos or single-family homes.

Hope that helps.
... more
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Mon Jun 7, 2010
Madeline Padovano answered:
Hi Nyclondon
Welcome home, soon. In my opinion it is best to work directly with a bank currently, it would probably be more direct and easier. If you contact me directly i can give you a mortgage person to
work with. as I need to know how much money are working with and exactly what you are approved for.
When do you expect to be in New York, what kind of home are you looking for, and in what areas. How many bedrooms do you need, what other criteria do you want and/or need. Where in New York did you live previously, do you have family here that you want to be closer to? I hope to hear from you and I look forward to working with you and helphing you find your new home
... more
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Sun Mar 8, 2015
Danomie answered:
Hi Cherise,

I am a potential buyer who first found out about NACA 3 years ago from a friend who had a friend that had used the program. It is not a scam, it is a program that has made a positive name for itself. I immediately worked to get qualified with NACA but haven't bought a house because I simply have not found anything that I like. I have been in contract for 3 properties with NACA as my mortgage financing but the deals fell through for one reason or another.

The thing with NACA is that it takes a lot of time and patience to get all the paperwork you need to get qualified. And you have to live within a budget. Additionally there is alot of turnover there and the workers get swamped with mortgage applicants and modification I said i've been dealing withthem for 3 years!

You are also limited by NACA on how much you can spend for a house. The amount depends on how many units. Check the website for info

I'm still psuedo looking for a house witht he intent on using NACA. While it can be a huge headache sometimes, I think the benfit of no down payment, no closing cost, and no PMI are well worth it. Good luk!
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0 votes 11 answers Share Flag
Wed Apr 28, 2010
Alen Moshkovich answered:
It will depend on your building and zoning.

Will your building allow commercial tenant and will the zoning allow it?

You forgot to tell us your neighborhood. Also is this ground unit on a side street or main avenue? That can mean night and day. ... more
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Thu Apr 22, 2010
Michael Dvorkin answered:
Wed Mar 10, 2010
Ralph Windschuh answered:
I found several new construction condos that had monthly taxes of $180 and common charges of $200 per month. Please contact me if you're interested in possibly seeing these or any other condos available in the area.

Ralph Windschuh
Certified Buyer Representative
Senior Real Estate Specialist
Associate Broker
Century 21 Princeton Properties
... more
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Sat Jan 16, 2010
Anna M Brocco answered:
Why not visit with any qualified loan officer(s) and see what your budget can handle and check on that credit score--yes, if you can establish eligibility--a qualified loan officer will best guide you.

... more
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Mon Nov 16, 2009
Joseph Runfola answered:
Bushwick is getting better all the time. It is a neighborhood that’s ready to move beyond the images of its charred past. The median sales price for homes in Bushwick, Brooklyn for Aug 09 to Oct 09 was $445,000 based on 54 sales. Compared to the same period one year ago, the median sales price decreased 10.9%, or $54,500, and the number of sales increased 3.8%. Average price per square foot for Bushwick was $193, a decrease of 1% compared to the same period last year.

There are currently 351 resale and new homes in Brooklyn on Trulia, including 1 open house, as well as 205 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Bushwick was $450,033 for the week ending Nov 10, which represents a decrease of 2.4%, or $11,070, compared to the prior week.
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Sat Oct 31, 2009
Pascual Paul Tarrats answered:
There is a another worst case scenario which you have not given thought to. What if you rented the unit out, and someone stopped paying the rent. A deadbeat. You would have to shoulder a whole lot more then lost rent, included court cost, and lawers fee's. Without a cushion, I would not venture into the 'Rental World' ... more
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Tue Oct 20, 2009
Renee Luzzi answered:
Real Estate is the answer. When people are comfortable they will start to think about moving.Perhaps a bigger home or a new area.When Real Estate gets sold it puts money in the pockets of small business owners such as Realtors, Mortgage brokers,Appraisers,Home Inspection Companies,Title companies,Moving companies,etc.. ... more
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Sat Oct 10, 2009
J R answered:
I have noticed an upswing in sales in my area of LI, which I attribute to the decline in prices and an influx in first time buyers, which is enabling the sellers of these homes to move up. I still see prices going down, however. In my area I think they will continue to decline and when they complete their descent, I think prices will stay flat for some time. ... more
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Fri Oct 2, 2009
Edith Karoline Jasser answered:
I do not know the highrise or the town, but feel I like to mention something, which has little to do with the location and building itself, for that a local Real Estate Agent, may have some more specific and detailed answers for you.

But just generally speaking, when opening a store (And I have done that myself in my area at one point in my life, so I know a little about it!) there are several items that are very important....

Traffic, i.e. how many people pass by the store (high rise you may think plenty, as they are living right there and in that respect you may be right)

What are you selling? Explore the neighborhood, look if there is competition in what you are offering as

Can you be competitive? In other words look at the rent, insurance etc. that this particular location requires, and then look how you have to price your product or services in order to come out with a profit at the end, and once you have determined that test your pricing with surrounding similar stores' pricings, in other words will you be able to be competitive....

I know this is just general information, and hopefully some one from your town who knows not only the building but also the area will be of help with further input!

Good Luck to you! Hooray for entrepreneurs and the courage to start something new!
Edith Karoline - YourRealtor4Life!
Working always in the very BEST interest of her clients
Your Chicago/Northern Illinois Connection and worldwide real estate services
... more
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