Sales activity picked up during the last quarter of 2009. The holidays are traditionally a slow period.
Sales increased in the fourth quarter over the third quarter. Most reports indicate sale prices in the fourth quarter of 2009 are down 10% from the 4th quarter of 2008.
Buyers are buying. Many people feel the market may have bottomed. Inventory is down. The extended buyers tax credit has helped. Not only are 1st time buyers eligible, the income cap has been raised helping more New Yorkers including existing home owners also eligible for a tax credit on home purchases up to $800,000. until the end of April.
Although banks are much stricter with lending, mortgage rates are still low for qualified buyers.
click here to view Corcoran Report 4Q2009
Please contact me if you are looking to buy or sell in Manhattan.
Sales increased in the fourth quarter over the third quarter. Most reports indicate sale prices in the fourth quarter of 2009 are down 10% from the 4th quarter of 2008.
Buyers are buying. Many people feel the market may have bottomed. Inventory is down. The extended buyers tax credit has helped. Not only are 1st time buyers eligible, the income cap has been raised helping more New Yorkers including existing home owners also eligible for a tax credit on home purchases up to $800,000. until the end of April.
Although banks are much stricter with lending, mortgage rates are still low for qualified buyers.
click here to view Corcoran Report 4Q2009
Please contact me if you are looking to buy or sell in Manhattan.
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2 Responses to "Happy New Year! 2010 Manhattan Market Optimistic"interesting real estate blog and I will do some research to learn more – keep the good work..marina blue condos
My boyfriend and I have been renting in the city for two years and were finally able to buy a studio because prices are so low! We also got a really good rate from our bank Intercontinental Capital Group and the first time homebuyer tax credit! Buy now, it might be the lowest it’s going to get...
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