It's amazing how many people that I speak too on a weekly basis and they all tell me (the REALTOR)how bad the Real Estate market is here in Brooklyn NY. When I tell them that they can't be more wrong I get the same puzzeled look from all of them. I tell them all if you must read the newspapers make it local, If you must go online for your news make it local. don't listen to your brother-in-law in Florida speak to your brother-in-law here in Brooklyn keep it local and you'll know why I and my firm sell almost as many homes today as in years past. Look to be very open YES there are some areas in Brooklyn that are off from their peak, but these areas were never strong to start with. Mortage brokers now want a min of 20 to 25 percent down to buy a home. The problem with that is there aren't that many families with that kind of money to start with. Keep in mind the average one family home in my area of Brooklyn is still high, $550 -$700,000. this is for Bensonhurst, Dyker and Bay Ridge. Also most of the sales in the last 6 months has been for multi family home mostly 2 and 3 fanily houses. So I guess it's all about keeping it local when you talk real estate.
RE/MAX Professionals - Brooklyn, NY
I don't know of any home that was worth millions in Bay Riodge or Dyker that is now worth under a million. I saw houses listed by agents who should not be in the real estate business put on the market for hundreds of thousands more than they were worth. But nothing fell in Brooklyn like you read in the national papers 30% or more from 2007
Aug 06, 2008 08:31 AM
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