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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
Wed May 14, 2008
Gail Gladstone answered:
Do the math. Can you lease out your co-op? Does your Board allow it? How much will you get? What will it cost to sublet where you are going. How long ago did you purchase your co-op? Will you still get your investment back? If you sell for the amount it cost you, you will have lived rent free with a tax deduction.

The market may be lower to sell, but it is also lower to purchase. Anyone buying and holding will ultimately have a property that has appreciated.
... more
0 votes 6 answers Share Flag
Mon Apr 21, 2008
Gail Gladstone answered:
Median price is the middle of all the numbers while average adds up all of the numbers and then divides by the number of numbers.
0 votes 1 answer Share Flag
Sat Apr 5, 2008
M answered:
Brooklyn Buyer,
20% w/i next 5 years!!! When did Zack say this?? I think most people in our profession would strongly disagree with this. A 20% drop over a 5 year period would be devastating for NY and surrounding areas. 7-8% maybe and a few of these %'s have already been given up.
Good Luck
The Schaffer Realty Group
Terry@marianschaffer.com
www.marianschaffferrealty.com
... more
0 votes 3 answers Share Flag
Fri May 16, 2014
Zack answered:
The entire world's financial community believes the NY metro real estate will decline significantly. The lastest numbers in the Case-Schiller report have the NY metro area at 200.49 in January 2008. The futures are currently trading at:

May-08 198.6
August-08 192.8
November-08 189.8
February-09 182.6
May-09 180.8
August-09 185.4
November-09 182
May-10 177.4
November-10 177
November-11 173.8
November-12 162.4

So basically, the world is betting on a 20% decline in NY area housing in the next 5 years.
... more
0 votes 13 answers Share Flag
Thu Mar 13, 2008
Gerry Vazquez answered:
Bubs, A Realtor practicing in the area and familiar w/the building is in the best position to answer your question. Would you be interested in talking to such an agent?

Gerry V
631.422.8221 ... more
0 votes 1 answer Share Flag
Tue Feb 24, 2009
Gail Hiebert answered:
hello justin. As far as I can see and research in this market, expect no appreciation in any markets this year. Expect decrease in values in most markets. You can do your own research on the internet on this subject. Regards. ... more
0 votes 7 answers Share Flag
Tue Jan 29, 2008
David Burger asked:
Property is 4700 sq. ft. on a wide street, Neptune Ave. between a large laundromat and a car wash, both thriving.
0 votes 0 Answers Share Flag
Fri Mar 7, 2008
Ronpkr answered:
PRICES GOING DOWN DEPENDS ARE MANY FACTORS. ITS NOT GOING DOWN FOR GREAT PROPERTIES. HOWEVER THE QUALIFIED BUYER IS IN A GOOD POSITION TO NEGOTIATE A DEAL.
THIS IS THE BEST TIME TO BUY AND AT LOW INTEREST RATE.
THIS IS THE BEST TIME TO BUY IN THE LAST 5 YEARS OR SO.
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0 votes 6 answers Share Flag
Sun Jan 6, 2013
Ronpkr answered:
LOCATION , DEMAND WILL DETERMINE THIS. THE MARKET IS STILL GOOD FOR THE MOST PART
0 votes 6 answers Share Flag
Thu Dec 3, 2009
Gail Gladstone answered:
Are they making you a good deal? Get an attorney and have the lease written up AFTER going over the details with a Retail.
0 votes 1 answer Share Flag
Thu Jan 24, 2008
Joe Devito answered:
MOST CONDOS IN BENSONHURST ARE BEING SOLD IN THE $400 TO 450 PER SQFT ACCORDING TO AMENITIES ,PARKING IS GOING FOR $20,000 TO $30,000 NEG.THE TAX ABATEMENTs ARE STILL GOOD FOR ANY MULTI FAMILY OVER 4 UNITS AND YOU SHOULD GET 15YR TAX ABATEMENT ... more
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Tue Dec 18, 2007
Henry Cunalata answered:
Is it on MLS? Did he email local agents. That's what I normally do.
0 votes 3 answers Share Flag
Mon Dec 3, 2007
Lisa Remington-Smith answered:
The market in Williamsburg is good. There is a nice selection of properties on the market right now.

Lisa Remington-Smith, ePro
Associate Broker
Homes@LisaRemington-Smith.com
0 votes 1 answer Share Flag
Fri Oct 26, 2007
Marvin EMarv Corea asked:
Fri Oct 26, 2007
ian cockburn answered:
Take a look on my website on the following page:

http://www.iansellsnola.com/gpage8.html

Add 30% for Brooklyn to these unit costs.
0 votes 1 answer Share Flag
Wed Nov 3, 2010
Greg Kiely answered:
Geri,

You seem to be asking the same questions over and over again. Please be a little more specific and we can help you out. I see you're a broker in Brooklyn. Are you looking to hire agents for your firm in NY or are you looking to ask agents about specific information? Help us help you! ... more
0 votes 3 answers Share Flag
Sun Jul 6, 2008
Adina Greenberg answered:
I did a rental search between $1000 and $2500. Most (1 BR) apartments were in between $1600 to $2400. Greenpoint starts to become more and more popular now that the prices in Williamsburg seem to rise by the month. It's a great neighborhood with parks and it's close to Manhattan. ... more
0 votes 1 answer Share Flag
Tue Jul 10, 2012
Pam Winterbauer answered:
Best place to look for rentals is on your local Craigslist at http://craigslist.com. Trulia does not offer a section on rentals.
0 votes 3 answers Share Flag
Thu Sep 27, 2007
Pierre Calzadilla answered:
okay, you have a few questions here:

1) If we could forecast that well, we would all be rich. however, historically prices in NYC real estate, including Brooklyn, have never gone down. That does not mean it can't happen someday, but to date, the trend is up, up, up - sure there are dips here and there, it is cyclical, but the long-run trend is never down.

2) the good time to buy is when YOU have found a property that fits your need and is in your budget. In the 1980's interest rates were upwards of 18%, people bought real estate then and have literally made millions, in a time when NYC real estate appeared doomed, and the country's economic system was in turmoil. Therefore, the good time is when YOU can afford to buy and when you have found something that fits your needs - if you buy to invest - it is ALWAYS a risk, Real Estate has never been a "short-term" investment. Buyers have been spoiled with the last few years of the real estate market, never before has real estate gained like it did the last 5-6 years. So understand that real estate does appreciate, generally it takes longer, a wise investment is never based on heresay - but on hard numbers.
... more
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