Market Report: Decent Price Gains in '07, Fewer Done Deals
Another day, another ’07 market report. The latest entry comes from appraisal firm HMS Associates via Crain’s, and it finds that Brooklyn prices were up but the actual number of home that were sold shrank markedly compared to ‘06. HMS says average sales prices rose 4 percent last year, to $634,915; the firm’s stats show…
Another day, another ’07 market report. The latest entry comes from appraisal firm HMS Associates via Crain’s, and it finds that Brooklyn prices were up but the actual number of home that were sold shrank markedly compared to ‘06. HMS says average sales prices rose 4 percent last year, to $634,915; the firm’s stats show average condo prices increasing 7.5 percent, to $587,000 and single-family home prices jumping 10.2 percent, to $669,000. (Those increases are basically in line with the ones published in Corcoran’s year-end report.) HMS’s most intriguing finding had to do with sales volume, or the lack thereof in ’07: The number of sales the report tracked decreased 23 percent, to 3,374. The lower number of sales probably has a lot to do with owners not being willing to drop prices and deals falling through for lack of financing.
Brooklyn Home Prices Up, Sales Down in ’07 [Crain’s]
Corcoran ’07 Market Report: Brooklyn’s Still Up [Brownstoner]
REBNY: Brooklyn Apt. Appreciation Tops Boros in ’07 [Brownstoner]
Photo by *green*garden*girl*
Hi Guest @ 9:52–
Glad you are considering Brooklyn, aka “the planet” (paraphrasing Mos Def). It’s a fantastic and diverse place. That in mind, it’s hard to say which neighborhood is “the best.” I would suggest you take the time to read up on the various ‘hoods to see what appeals to you. A good resource for neighborhood profiles is the “If you’re thinking of living in..” series from the NYTimes, or the NYMag.com Neighborhood listings. (Both are online) Beyond that, nothing can replace an actual visit to our borough to decide which is “best” for you. Good luck!
How much did you pay for that bunker, Archie?
“The lower number of sales probably has a lot to do with owners not being willing to drop prices and deals falling through for lack of financing. ”
No Mother Fucking Shit Sherlock!!! Ya Think??!!
You need to read this statement over and over and over again. The Mutant Real Estate Bubble has been pricked. Mortgage are Very hard to come by. There are not loaning money to assholes to buy overprices shit. Greed is slowing turning into fear. For those of you who brought in marginal neighborhoods, you are going to get ASSRAPED on your investment.
Note: No one is paying their mortgage. The homeowner (asshole) has decided ‘this shit is not worth it’ Here read this story.
Troubled homeowners: Can’t pay? Just walk away
http://money.cnn.com/2008/02/06/real_estate/walking_away/index.htm?source=yahoo_quote
1.4 Million for a Brownstone in Shiting Hill or 2.5 Million for one in Fort Greene Turd. Yep, this will turn out ok.
The What (Watching the implosion for his bunker)
Someday this war is gonna end….
Agree with 10:12. Does Brownstoner ever even read the comments? Does he just not care?
One less asshole, 10:12.
Every day this blog is full of jerks and assholes. Makes me not even want to look at it anymore.
east ny is the best 9:52
lovely cafes and wonderful people
it is an up and coming area with many great deals on real estate and close to the city
call me i will show you around
1-800-i-am-desperate
I’m going to be moving to New York for my job in May. My wife and I are thinking about Brooklyn, as we’ve heard good things. Any recommendations as to neighborhood? Which one is “the best?”
This is stupid every week there is a new report. Whatever.