For buyers: mortgage rates have increased significantly this year. As of October 11th, the 30 year fixed-rate mortgage is now at 4.9% and their highest level since April 2011. For example, if you bought a $1m property and financed 80%, $800,000, the mortgage would be $4,245 vs. $3,865 per month at 4.1%.
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For sellers: while there are still pockets of neighborhoods seeing increased pricing, the market has declined in some neighborhoods as much as 10%. For example, if your property was worth $1.1m in the beginning of the year in Chelsea, it is now worth $1m.
In summary, buyers are becoming more motivated to make offers on properties and sellers seem to be more open to realistic pricing. This is true in my personal experience - it is time for buyers and sellers to start making deals!
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​​​​​​​I'm the perfect agent to make these deals happen! If you know anyone looking to buy, sell or rent, please reach out to me at 212-941-2634 & [email protected].
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4 Lucky Buyers in Contract!
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​​​​​​​917 Jefferson Avenue
2 King Street #6B
296 Elizabeth #3F
614 Decatur
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I have four lucky buyers in contract expected to close this year. To see what I've been up to in 2017 and 2018, Check Out My Deals!
Townhouse Specialist - Not So Tricky
This year I've been focusing on taking my townhouse skills to a whole new level. I sold a two-family townhouse in Park Slope in August and have two houses in contract. If you are thinking about making an investment in a multi-family townhouse, or thinking about selling one, please reach out to me at [email protected] or 212-941-2634. Check out my website!
Hang Out With Me Wednesday! My Treat
Obligatory Archie Photo
​​​​​​​Archie is getting ready for Halloween!
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Check out Archie on the stoop of Blue Ribbon Sushi, one of our favorite restaurants
