A New Year, A Different Market ? Thoughts on the Real Estate market In Brooklyn, New York

 February 05th 2007

“What a difference a year makes‿ states Jeff Grandis of JeffGrandis.com. Last year at this time both buyers and sellers were completely confused about the change of market forces from a seller’s market to a buyer’s market. As a result many buyers sat on the fence and did not buy, thinking that the market will finally crash and prices will tumble. Well, according to Jeff Grandis in fact there was a price adjustment downward in many Brooklyn Neighborhoods. The adjustment was as much as 15% in some neighborhoods and less in others. For example, Midwood, Madison, Gravesend, Homecrest, Sheepshead Bay experienced a significant price adjustment. The downtown neighborhoods of Dumbo, Park Slope, Fort Greene, Clinton Hill, Carroll Gardens, Cobble Hill, Boerum Hill, Brooklyn Heights, Williamsburg and Greenpoint underwent a less severe downturn in price. Many sellers realized that the time of tremendous increases in price for their properties was over. Now, if a seller wants to sell, they have to be much more realistic about their expectations price wise says Grandis, who has been listing and selling Brooklyn Real Estate for over 19 years. According to Jeff Grandis, 2007 should be a much better real estate market. Now most sellers and buyers understand the changes that the Brooklyn real estate market have undergone. It was like a big storm, and now there seems to be a welcome calm. Sellers now know that they have to be realistic about price and buyers now know that prices have stabilized so if they need to buy, now it is a great time.
Want the latest news about Real Estate in your neighborhood? E-mail to Jeff at Jeff@JeffGrandis.com or call 917-804-3198 or visit Brooklyn Neighborhood individual pages at www.JeffGrandis.com for more insight into Brooklyn New York Real Estate, your lifelong Brooklyn resident and also your Brooklyn Neighborhood Real Estate Broker.