New York Real Estate
REM #A777
By Ilyce R. Glink
Summary: New York real estate is one of the few markets in the country that is still moving at a good rate. Ilyce Glink gives advice to this reader who is wondering if now is a good time to buy a new home.
Q: Do you think is a good time to buy a new home on the outer side of New York?
A: I think the greater New York area appears to be one of the few places in
the country where the market continues to be strong. That doesn't mean that
every neighborhood is appreciating at double-digit rates. But you’re seeing
houses sell at a fairly rapid clip, and that's the sign of a strong housing
market.
As for your particular neighborhood, I don't know if it's the right time to
buy because I'm not there, standing on your corner. You have to spend time checking
out the neighborhood, visiting open houses and local retail stores to see what’s
really going on.
When it comes to buying a house, a lot of the issues surrounding timing have
to do with how long you plan to stay in your home. If you're planning to be
there for 5 to 7 years, you'll probably do just fine.
On the other hand, if you're asking me whether you can buy a house today and
flip it for double the price next year, I'd have to say you're unlikely to see
that kind of return unless you have a very special property – and you
get very lucky.
NOTE: Ilyce R. Glink's latest ebooks are "Credit Scoring Secrets" and "How to Find a Great Real Estate Agent," which are available at her website, www.thinkglink.com.If you have questions, you can call her radio show toll-free (800-972-8255) any Sunday, from 11a-1p EST. You can also write to Real Estate Matters Syndicate, PO Box 366, Glencoe, IL 60022 or contact her through her website, www.thinkglink.com © 2007 by Ilyce R. Glink. Distributed by Tribune Media Services
Quit Claim Deed Transfers Property Taxes
Quit-Claim Deed Question
Deed in Lieu of Foreclosure Will Hurt Credit Rating
Closing Costs
Breach of Contract
Link to This Article
Like what you've read? Spread the word! You can link to this article
from your website by copying the following code and adding it to
a page on your website:
Copyright ©2001-2007. ThinkGlink, Inc.
All rights reserved. Reproduction of material from any www.ThinkGlink.com pages without permission is strictly prohibited.
Site designed by Walker Sands Communications
