Three Reasons to spend in Brooklyn, New York Real Estate

There are many reasons to spend in Brooklyn real estate. However, the three best reasons to spend right now are:

Reason #1 -Brooklyn is a Diverse and Unique Area with Close nearnessy to New York City

Brooklyn New York

Because Brooklyn is so diverse and unique, individuals, families and businesses from all over the country and the world come to Brooklyn. When you think of Brooklyn, you think of The Brooklyn Bridge, Coney Island, Fulton's Ferry, and the Dodgers as part of Brooklyn's history. Brooklyn is an eclectic neighborhood of multi nationalities with immigrant roots. It is the largest of the five boroughs of New York with a people of approximately 2.6 million.

Three Reasons to spend in Brooklyn, New York Real Estate

Real estate prices vary from neighborhood to neighborhood. However, its close nearnessy to New York City and ever growing people all the time make Brooklyn real estate a great investment in a seller's or buyer's market. Zip codes comprise 11234, 11210, 11223, 11239, 11236 and 11203.

Reason #2 -Federal Government Bail Out Will Ease prestige Crunch

As a succeed of the Federal Government's financial salvage plan popular ,favorite on October 3, 2008, to bail out the financial markets, the plan will help to unfreeze prestige and get banks to start lending again. To begin with, nine of the largest U.S. Banks have agreed to be the first financial institutions in which the government will own a stake in. However, the schedule will be ready to thousands of other banks as well.

As a succeed of prestige becoming ready again, investors should take advantage of the many opportunities ready in the Brooklyn real estate market. In some neighborhoods, prices are still appreciating while other neighborhoods have foreclosure and short sale opportunities.

Reason #3. It's a Buyer's shop and Sellers are Motivated to Sell

Brooklyn housing prices are affordable right now. Prices are lower than they have been in the last two years, and sellers are now motivated to sell. In most areas, prices have gone down at least 10% over the last two years. Areas like Bushwick and East New York are experiencing article numbers of foreclosures. The higher end Northern Brooklyn shop areas such as Brooklyn Heights, Park Slope and Williamsburg are still realizing appreciation in asset values and are in high examine because of their easy commute to Manhattan via bus or subway.

According to Trulia.com, the midpoint sales price for all of Brooklyn during July 2008 through September 2008 was 3,000, down 0.3% from the same time last year.

Let's take a closer look at some of the individual neighborhoods in Brooklyn and see where some of the best buys are right now besides Bushwick and East New York.

For instance in Bedford-Stuyvesant, Trulia.com reported the midpoint home sales price for the period July 2008 through September 2008 was 0,000, down 15.08% from the same time last year. In the Bayridge and Fort Hamilton area the midpoint home sales price for the same period was 0,000 up 14.6%. In Park Slope, the midpoint home sales price for the same period was 0,000, down 9.6% for the same period last year. In Sheepshead Bay, the midpoint home sales price for the same period was 5,000, up 12.3% for the same period last year. In Greenpoint, the midpoint home sales price for the same period was 0,000, down 2.7% from the same period last year. However, because of the rezoning in any Brooklyn neighborthoods during the last few years, a number of new conominium developments have been built which has resulted in home sales prices in North Brooklyn, which covers Williamsburg and Greenpoint, to well increased farranging 6.9% over a year ago.

For Mapleton, the midpoint homes sales price for July 2008 through September 2008 was 7,500, up 1.2% for the same period last year. For Sunset Park for the same period, the midpoint home sales price was 5,000, with no change for the same period last year. For Flatbush-Ditmas Park for the same period, the midpoint home sales price was 7,500, up 6.5% for the same period last year. For Brownsville, for the same period the midpoint home sales price was 5,000, down 13.3% for the same period last year.

What's intelligent about Gowanus is that the midpoint listing price for the week ending October 15, 2008, was ,783,364.00, which was a 9.4% increase over the previous week midpoint listing price. Check the link below to see the newest midpoint listing prices for properties in Brooklyn.

Source: http://www.trulia.com/real_estate/Brooklyn-New_York/

As you can see, Brooklyn housing prices are still affordable, and it's a buyer's shop right now. Investors should take advantage while the opening lasts.

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