SUSIE GHARIB: One thing that could help the housing market — low mortgage rates. For the second week in a row, the 30-year fixed remained at an all time record low. It’s stuck at 3.87 percent. That compares to 5.05 percent a year ago. Still, even with mortgages enticingly low, getting a loan these days can be [...]
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If you’ve ruled out living in a ground floor apartment based on perceived security issues or a lack of sunlight, Real Estate experts say you should think twice before passing it up. NY1’s Jill Urban filed the following report.
They are often overlooked or ruled out because of their location in a building, but sometimes a [...]
In this On the market, Good Day New York’s Christal Young looks at three local properties between $300,000 and $350,000. She goes inside a Colonial in Wood-Ridge New Jersey. Then she compares it to a 1-bedroom in a new construction building on Gates Avenue in Clinton Hill, Brooklyn, and a studio apartment in Battery Park [...]
A year-end report on the Manhattan rental market shows few surprises.
“What we found for the year ending in 2009 was what most consumers would expect, which is fairly rapid price deceleration in the rental market,” said Daniel Baum, chief executive officer of the Real Estate Group of New York.
The firm’s third-annual year-end report tracked rentals in neighborhoods from Battery Park City up through Harlem at 155th Street. It focused on studios, one bedrooms, and two bedrooms, both in doorman and non-doorman units.
Think the dropping of a big fancy ball means the real estate industry can forget about a horrific 2009? Not so fast!
Tomorrow the brokerages will release their quarterly sales reports for the Manhattan market, but before that, The Real Estate Group New York is tying a bow on the bag of flaming dog poo that was the Manhattan rental market.
The rental market in Manhattan has seen a steep drop in prices, according to new statistics. NY1 Real Estate reporter Jill Urban filed the following report.
New statistics released this month offer a picture of where the rental market stands.
“The second quarter Manhattan rental market was defined by a 58 percent decline in the number of rentals, compared to the same period last year,” says Jonathan Miller of Miller Samuel, which prepared the report. “We also saw a 28.8 increase in the number of listings on the market.”
Rental-heavy brokerage The Real Estate Group New York has released the May edition of its Manhattan Rental Market Report (available to download here), and while rents stayed largely flat over last month, the year-to-year declines can be seen in the tables above. TREGNY also cites increased demand over the past month as a sign that the typically hot Manhattan spring/summer rental season will have life this year. Graduates should check out non-doorman buildings on the Upper East Side, where rents are at a 13-month low.
Ah, finally, a breath of fresh air as far as the housing market is concerned. Manhattan rents are down by as much as 20 percent.
Rents are at their lowest since 2007, according to the Manhattan Rental Market Report. That’s down an average of nearly 7 percent in doorman buildings and half as much in non-doorman buildings – and all it took was a global housing and credit meltdown.
The country’s recent economic problems actually may be good news for renters looking for a place in Manhattan.
The January report from Real Estate Group New York — which analyzes apartments on the island below 100th Street and under $10,000 a month — says layoffs and stock market losses have led the value of Manhattan apartments to decrease, and rents to fall as well.