Written by JohnReinhardt
There seems to be some good news on the Brooklyn Real Estate front, reports John Reinhardt, President/CEO of Fillmore Real Estate. “New Sales Written for the past three months have gone up 11.9% compared to last year at the same period,” according to Mr. Reinhardt. It’s hardly time to celebrate as we are simply excited that the numbers stopped going down and it looks like we’re going to finish off 2009 with a decent year. We’re seeing numbers that are higher than we’ve seen since 2006 and that’s a breath of fresh air. The affordable housing and blue collar buyers are out in force as the interest rates continue to be among the lowest we’ve seen. Combine rates with amazing prices, abundant selection and the great tax incentives many buyers are learning that this may be the best time ever to buy a home.
It’s interesting to see that we’ve crossed the line where it makes more sense to own rather than rent today. The forecasters are saying that rates are likely to go up in the near future, leaving the opportunity for the greatest purchase power today.
Today could be the best time ever to buy a home, and I think people are getting it more and more.
According to realist.com, single family home sales are starting to pick up in Brooklyn, with August sales volume up 12% over last August. The average sales price has dropped 16% from $535,800 to $450,000 since last year and this is contributing to an increased interest in purchasing today.
I would like to be proud of the fact that September sales are up 34% at Fillmore and 52% for August, but I’m comparing the numbers to the extremely disappointing results of 2008. I will celebrate when the trend continues. It’s great to see light at the end of the tunnel; and even if it’s not the end of the tunnel, it keeps us going and motivated.
I’m going to smell the roses today. Yes sales are up in Brooklyn, and I’m happy to be able to say that!