There is no doubt that the housing market in Brooklyn New York has improved over the last 2 years. Sales of residential, commercial, mixed-use and investment properties have increased. However, many Brooklyn neighborhoods have a low inventory of properties available for sale at this time, especially Brooklyn neighborhoods in the Northern section of the borough such as the neighborhoods of Williamsburg, Greenpoint, Bedford Stuyvesant (Bed Stuy), Bushwick, Clinton Hill, Downtown Brooklyn, Brooklyn Navy Yard, Brooklyn Heights, Fort Greene (Ft Greene), Prospect Heights, Carroll Gardens, Cobble Hill and Boerum Hill. These Brooklyn neighborhoods are in very high demand for housing and investing because of their close proximity to Manhattan (NYC) and their uniqueness of character.
An inventory shortage in any neighborhood where there is high demand creates a decided advantage for property owners who are planning to sell their Brooklyn property now. With much fewer properties on the real estate market to compete with, high demand, a low 15 year fixed interest rate at 2.875% and 30 year fixed interest rate residential loan at 3.625% according to today’s 01/25/13 report by Wells Fargo, there is a much better opportunity to get a great price for your property now than in the last number of years.
At Accord Real Estate Group, our brokers and agents specialize in representing property owners in the marketing and sale of their Brooklyn property. Call us if you are planning to sell your property and put our many years of experience, dedication to our clients and track record of bringing great results to work for you. You will be very happy that you did.