The market as of today: Brooklyn, NYC
By Luke Constantino, Residential/Commercial Real Estate Brooklyn NY
(Brooklyn/Manhattan Real Estate)
As of today the commercial market here is very, very slow. Along with that a majority of small boutique type businesses have gone out of business leaving a lot of main avenues dotted with "Store for Rent" signs. It seems as if more and more businesses are either consolidating of leaving altogether. (I'm sorry, I liked the name.) As for the residential market (Houses 1-4 family) it is a perfect time to buy and a lot of people know it. The majority of low priced homes are being sold to a lot of first time home buyers here. The "trifecta" (What I call the artificially lowered mortgage rates, the 8,000 tax return from the government and the 18% drop in the market) makes it prime time. I'm noticing a lot of floaters: "Hurry up already! I'm waiting here!!!" These are people who haven't foun...
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