Rewriting Real Estate Rulebook in New York

Owning a house is rather a tricky affair, in the past people thought to be rich and affluent preferred to buy and own houses in what was thought to be the leafy suburbs of Manhattan. However, the recent past has experienced an unusual paradigm shift with new NYC luxury real estate market reports recording the highest increase in the cost of acquiring an apartment in Brooklyn according to a survey by Douglas Elliman.

This growth and demand for houses has seen the median price of an apartment in Brooklyn shoot to $676,250. This is a 15.1 percent increment from last year. This increment is unrivalled with queens recording a median price of $450,865 for an apartment.

This growth is proof that Brooklyn is changing, and people in Brooklyn have become much more versatile and aggressive with regards to owning a home.

The once thought mentality of Americans to buy apartments during a specific period of the year is overtaken b events with Brooklyn recording a 14 percent rise in apartment sales, Queens recorded an increase of 64.6 percent.

A Corcoran report indicates that 736 contracts were signed in the third quarter an improvement of up to 9 percent recorded in the previous year.

This increase has led to a major increase in real estate firms. A good example of these firms is Town Residential. Founded in 2010, Town Residential was founded by CEO and co-chairman Andrew Heiberger. This firm is major player in New York. The Firm lays emphasis on selling luxury residential sales; leasing; marketing sales and development of property. The company has set a benchmark for excellence and reliability. This unrivalled dedication to being the best in the market is evidenced by a team of professionals dedicated to excellence and customer satisfaction. This dedication and commitment has been rewarded through the company receiving accolades within the residential real estate’s community.

A critical look into the future reveals that credit is not about ease soon especially having seen the effects of the credit crunch. Despite of this reality buyers have expressed a will to own homes as is evidenced by the increase of people seeking to be home owners. In essence what has changed is the people’s mentality through a reassessment of where they want to live.

The book of real estate’s is being rewritten and all players in the real estate market need to adapt to the change or face extinction.


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