Real Estate Blog :: Property & Brokers

Homes define New York City. More than any of the cultural attractions the city is known for, the one feature of the city that sticks out in most people’s minds when they visit the city for the first time is the endless – as far as the eye can see – ocean of buildings. The vast majority of these are residential, and there is the fundamental New York City in a nutshell: Gone are the suburbs, gone the typical city’s dance of urban and suburban; gone the grassy fields at the edge of town… In New York, all is city, and thus all is mankind’s culture.

This overwhelming sense of a culture permeating all the physical space of one’s existence shines in much of the world’s memory. Some are disturbed by it, but many are enthralled. Indeed, much of the city’s population first came to the city and saw the city’s lights and bars, nightlife and endless ocean of buildings for the first time with a certain powerful sense of awe.

It’s not the easiest business having dealings with real estate and houses. Especially if your in the business for investment purposes trying to turn a profit. It’s a game, and just like any other game you need to learn the rules to play it the best. You need to know where the real estate hot spots are, and pay very close attention to market trends. Of course on the other side of the coin those that do know the game, are making a killing year in year out investing in real estate. Is it a gamble? Sure it is, but isn’t every investment partially a gamble? I think so. Consider Hollywood or New York real estate, do you have any idea what a modest home is going for in these areas? It’s not chump change that’s for sure. So have you ever considered entering the real estate investment game? It only takes one deal to make it happen, and it could be you making a killing this time next year.

My expectations are to invest in either New York real estate or Chicago. Both cities are witnessing exponential growth and a booming economy, why wouldn’t you invest in the area. Now while not the best comparison think about it they are the pizza competitors. What do I mean by this? Well the Chicago style is deep dish thick crust, versus the thin crust New York style, I guess not the same thing but everyone needs a starting point. It’s pretty much a given that any time you’re holding a prime piece of Chicago or New York real estate you stand to make a nice profit. Everything comes down to location, and the time at which you’re holding the property. If there are buyers searching for sellers and you have the real estate close to everything you’re sitting pretty. Of course there is always the chance of prices falling. Ohio is an good example right now their real estate market isn’t holding up so well. There are a number of reasons that this might happen, whether it be unemployment rates, schools, crime etc. You have to always be looking at the broad spectrum when thinking about investing in real estate there is more to consider then just the property, and neighborhood.

With a reputation for being a difficult destination to land a decent and affordable piece of real estate, New York City is becoming an increasingly popular market across the nation when it comes to offering a wide range of choices. While the recent boom in the foreclosure market has made it easier to land reasonably priced property, an overall spread of lowered prices throughout the area has also appeared in the New York City area.

Economists across the board believe that New York, NY will profit from a renewed interest in the area real estate market. Interest rates have become stable, consumers are slowing regaining their confidence in the market, and property bargains are popping up everywhere you turn. Due to ARM resets, a larger amount of foreclosures and pre-foreclosures are becoming the latest trend.

If you are looking for a New York real estate market near Syracuse then Cicero may be a place to check out for good buys. It is a 50/50 market with equal numbers of buyers and sellers. Houses are staying on the market for only a month to two months with a decreasing market trend. The housing inventory is solid in all price ranges with average home prices up nearly five percent over last year’s prices. Current average home price is sitting at $150,000 with sellers receiving ninety five to one-hundred percent of their asking price with multiple offers. This New York real estate market is being driven by job growth and consequently move up buyers.

Finally, Clay, New York this real estate market has more buyers than sellers with homes sitting on the market from ninety to one-hundred and twenty days and an increasing market trend. There is a good inventory of homes available and prices are up 0-5% to rest at $125,000 on average. First time buyers and population growth are driving this no multiple offer market with sellers receiving 95-100% of their initial asking price.