Tag Archives: market trends

Brooklyn Brownstones are Moving Fast

Brooklyn Brownstone townhouses

Over the course of the next week or so we will be discovering and discussing what are Brooklyn Brownstones, their history, who owns them and their value. There are many brownstones throughout numerous New York City neighborhoods, especially in the Brooklyn neighborhoods of

Park Slope, Clinton Hill, Fort Greene, Cobble Hill, Prospect Heights, Brooklyn Heights, and Bedford Stuyvesant. The Manhattan neighborhood of the Upper West Side, too, retains many brownstones.

Sandstone with a reddish brown color caused by the dissolved iron oxide in the rock, is called brownstone. It was very easy to mine and carve and became very popular in the 19th century. New York and Boston both have a large number of brownstone homes that were built in the form of terrace or row houses with raised entrances. Harlem, Park Slope, and Brooklyn all have large numbers of such homes in varying condition. Brooklyn Brownstones are highly desired.

It is believed that in the late 1800’s Irish Catholics started to appear in Brooklyn, mainly Sunset Park and were soon followed by Polish immigrants. They found jobs nearby in Green-Wood Cemetery and Park Slope’s Ansonia Clock Factory. (photo credit: Brownstone Awaiting A Wrecking Ball, NYC 1959, by Dmitri Kessel, from the Brownstone Revival Coalition)
The Scandinavians began working as shipbuilders. In 1916 they joined together to build ‘apartments’.

Row house developers started using ‘brownstone’ as their material of choice. Brownstone was very easy to excavate and easy to work with as they could ‘form’ or carve it to fit their needs.

Post war the Brooklyn Brownstones were built for influential members of ‘high society’. Condos came into the picture and neighborhoods began to grow. There are hundreds of Brownstone homes enjoyed by families today.

Can you imagine living in a building with so much rich history? Made with love, sweat and I am sure blood and tears, these are some of the most beautiful homes, condos and apartments around.

You can find Brownstones in all areas of New York including NYC, they are also prevalent in New Jersey as most of the stone was mined there.

Brooklyn Brownstones have always been an excellent investment and never stayed in the listings very long. I also noticed how much higher the prices had began to rise. As a Realtor/Broker I am always invested in all areas of real estate but in my own home town I could not believe the phenomenon that was happening. This is the 3rd and final in our Brooklyn Brownstone series.

I began asking around and doing property searches to see why these famous Brownstones were flying off the market and much to my surprise they were being highly sought after by foreign investors, yes foreign investors. I found this really informative article giving the scoop on this hot market topic and I would like to share it with you,  Foreign investors ‘buying up all the brownstones in Brooklyn and pushing prices even higher’

Follow us to learn who desires these properties the most!  Or call me and lets find you one.

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Brooklyn Real Estate

BBPO logo smallOur experienced team keeps a watchful eye on market trends for negotiating power to get you a great deal on your perfect home. There are many variables which cause the market to flow up and down. Right now, interest rates are fantastic, the market has plenty of homes for you to choose from, and it is a great time to get settled before school starts.

More than 6,000 homes are available right now so there is a great pool to choose from. Not in the market to buy yet? That is OK as we also have plenty of apartments and other properties available for rent. Only you know whats best for your situation and we are standing by to help.

Give us a call and a team member will be happy to assist. With more than 30 years in the New York real estate industry, our knowledge and connections will take you #homesweethome.

 

How To Choose A Neighborhood

By Liz Gray, FrontDoor.com

clear camera 253 (Small)If houses are like spouses, a neighborhood is like the extended family. But while you can have a good marriage and still dread holidays with the in-laws, you’ll never love a house if you don’t like your neighborhood.

How can you choose the right community? Become a neighborhood detective. Figure out what you’re looking for, do research and find a neighborhood that fits your description. You don’t even have to wear a trench coat — but it probably wouldn’t hurt.

STEP 1 — Profile Your Perfect Neighborhood

Before you start scrutinizing neighborhoods, turn the magnifying glass back on yourself.

Think about what you’re really looking for in a new neighborhood. Remember, you’ll probably have to make compromises, so put the “must-haves” at the top and the “would- like-to-haves” at the bottom. Not sure what fits your lifestyle? Here’s a list of 12 types of neighborhoods to get you started.

Here are some things to consider:

  • Do you have children or are you planning to have children anytime soon? Parents know that the first thing to do when looking at a neighborhood is to research the school system. Even if you’re single, living in an area with a much sought-after school system raises your property value. If you have kids, you’ll also want to live close to parks and community centers.
  • What type of home do you want? Are you interested in a single-family home or an apartment, townhouse or co-op? Read more about the different types of homes.
  • How far are you willing to commute? Do you plan to drive, walk or take mass transit to work? Do you have a car or would you be willing to get one?
  • Do you want to be in a historic neighborhood or a new development? Historic neighborhoods have tons of character, but often require lots of repair work and are governed by community associations with strict standards. Newer developments have more modern features, but are typically far from the city center. Read more about the different types of architecture styles.
  • What is your current community lacking? If you’re currently landlocked, but have always wanted to live on the waterfront, put that at the top of your list. If you’re a coffee junkie, having a Starbucks down the street may be a dream come true.
  • Do you want to be able to go places on foot? Would you like to be within walking distance of shops, restaurants and bars? Or would you be willing to drive to nearby businesses?
  • Think about what you don’t want in a neighborhood, too. If you can’t stand late-night noise, you’ll probably want to steer clear of the college area or an area with a lively bar scene.

Continue reading

Agent 2 Agent

agent2agentAre you a Real Estate Agent in an area that seems totally saturated with other agents? Do you feel like you have tons of competition and are scrambling for ways to beat them out? That is Agent vs Agent instead of Agent 2 Agent.

Other agents in your area hold a wealth of information that can be vital to your business and your industry. It is important as well as beneficial to go to real estate related functions like the Real Estate Professionals Networking Mixer that was held in March or The Real Estate Professionals Education Forum that is on May 21st.

Networking is not over rated, it is essential. While socializing you may just find that an Agent has a client looking for a particular type property which you may have, maybe hasn’t even hit the market yet. Or you may hear the name of a great Home Inspector or Insurance Agent, all of which your buyer/seller will need.

Up to date laws are usually reviewed as well as market trends and the  economy. All which are a part of your business. Get to know other Agents/Brokers for you are never to old or too smart to learn a new concept or perfect an old one.

 

Spring Home Buying Season

small_R_blue_jpgAccording to realtor.com® The spring home buying season is off to a stronger start than at this time last year, with modest price increases and a spike in inventory, according to realtor.com’s National Housing Trend Report for March. 

The number of properties for sale on realtor.com® in March rose 9.5% above March 2013 levels, to 1,841,844 units, according to the report. The median list price of $199,900 was 5.3% higher than in March of last year, and the median age of inventory increased 22.9% above the year-ago figures, to 102 days on the market, the report’s data showed.

Informative full story 

Mortgage Interest Rates Reduced

Mortgage Interest Rates were reduced this week from 4.37% to 4.32% edging 30 year mortgage rates to near record lows again. The reduction will certainly stir up home buyers.

Home sales have fell slightly, especially in the North and  Northeast, but due mostly to intense winter weather. A lack of available homes in several areas also account for falling home sales.

Spring is here and weather is clearing, this coupled with the reduction in mortgage interest rates will bring a renewed spirit to home buyers and I see a big jump in home sales.

Brooklynnybpo.com currently lists 1,859 homes for sale in New York, a place that has been hit both by bad weather and a slow recovery from Hurricane Sandy. You can find exactly what you are looking for, I am here if you need assistance.

Mortgage Rates Tick Up For Second Consecutive Week

According to Realtor.com mortgage rates across the United States have risen slightly for a second consecutive week. The average rate on a 30-year fixed mortgage inched up to 4.33 percent from 4.28 percent last week, according to the latest survey from mortgage buyer Freddie Mac. At this time last year the average was 3.56 percent. For more details: http://ow.ly/u1q6l

Harlem, The Comeback Neighborhood?

Harlem, The Comeback Neighborhood?  Property values in Harlem have jumped by about $20,000 since 2012. Is it commercial, residential, economy or what is bringing this community back to life? Statistically speaking about 49% of Harlem residents are singles and 34% are married . Continue reading

FHFA to Delay Mortgage Fee Increase

dollarsignThe Wall Street Journal reported that Rep. Mel Watt (D., N.C.), the incoming director of the regulatory agency that oversees Fannie Mae and Freddie Mac, said Friday night he would delay an increase in mortgage fees charged by the housing-finance giants, which was announced earlier this month by that agency.

Mr. Watt was confirmed by the Senate to head the Federal Housing Finance Agency on Dec. 10 and is set to be sworn in on Jan. 6, he said in an email on Friday.
(credit:By NICK TIMIRAOS)

Brooklyn Brownstones, Hot Investment

Brooklyn Brownstones have always been an excellent investment and never stayed in the listings very long. I also noticed how much higher the prices had began to rise. As a Realtor/Broker I am always invested in all areas of real estate but in my own home town I could not believe the phenomenon that was happening. This is the 3rd and final in our Brooklyn Brownstone series.  Continue reading

Brooklyn Brownstones History

It is believed that in the late 1800’s Irish Catholics started to appear in Brooklyn, mainly Sunset Park and were soon followed by Polish immigrants. They found jobs nearby in Green-Wood Cemetery and Park Slope’s Ansonia Clock Factory. (photo credit: Brownstone Awaiting A Wrecking Ball, NYC 1959, by Dmitri Kessel, from the Brownstone Revival Coalition)
The Scandinavians began working as shipbuilders. In 1916 they joined together to build ‘apartments’. Continue reading