The government shutdown not only affects the real estate market but the stock market, unemployment & credit rating. Let’s find out if the shutdown damaged Brooklyn’s housing.
Research reflects that sales of both new and existing homes slowed slightly from September 20th to October 20th. The noticeable difference was in the number of homes available. dropping by o.7% while the average listing price of a home increased by about $40,000. You can expect to pay around $550 per square foot. Some neighborhoods have an average of $600.
The market is still strong and real estate is still a very solid investment. Brooklyn offers a variety of apartments and homes and has some outstanding school districts. One of the more popular neighborhoods right now is Bedford- Stuyvesant with Sheepshead Bay following with a close second.
Do not let what has happened in Washington stop you from becoming a home owner. You can get the financing if you are willing to take a few extra steps that include checking your credit score, if you spot a problem get it fixed. A solid work history is another plus along with your income or ability to pay the mortgage and still take care of necessities. Save a little money for a down payment as this shows you have the skills and the drive to reach your goal of becoming a home owner. Start now and let’s get you into a new home by Christmas!