Brooklyn Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

June 21, 2018

5 Main Reasons to Hire Brooklyn Real Estate Professional by www.SellHomesInBrooklyn.com

In any case, if you’re buying or selling, it will be quite the adventure, this is exactly why you need to hire an experienced Brooklyn real estate professional to guide you on the path to achieving your goal and getting results. Contact Max: 3474101363 , MaxMysak@Gmail.com or go to www.SellHomesInBrooklyn.com to get things done.

May 30, 2018

Don't !!! Overprice your Brooklyn homes for sale.

Don't !!! Overprice your homes for sale. It's not a Seller's market anymore. If you are serious about selling, overpriced approach will not work to your advantage. Yesterday there were 140 Expired properties on Brooklyn MLS. Some of them were on market for over 6 months. Don't just go with an agent who promises you the most money for your property. Ask every agent to prove to you with real Brooklyn MLS data, how he/she came up with these numbers. It's a proven fact that if your property stays on market for a long time, it attracts lower offers. Which means that you will loose money. Call/Text me 3474101363 or go to www.sellhomesinbrooklyn.com

Posted in For Sellers
May 29, 2018

Stop Throwing Away Your Money and Time, Sell Your Brooklyn House First !!!

Stop Throwing Away Your Money and Time, Sell Your Brooklyn House First !!! This video is about the correct approach to sell and buy a house. Approach that is going to help you not to leave any money on the table. Remember, It's much much better to start any negotiation from the position of POWER, not the position of asking for favors. When you decided to sell your home and buy another one, either you are upsizing or downsizing, sell your home first. Unless you are in the position when you don't need to sell your home first in order to be able to buy another home. Watch my video for explanation and details. You can easily contact me via my website www.SellHomesInBrooklyn.com or Call/Text me directly 3474101363 Maksym Mysak - Real Estate Agent in Brooklyn, NY.

Posted in For Sellers
May 26, 2018

Drop in Inventory Fuels Sales Slowdown [INFOGRAPHIC]

Some Highlights:

  • Existing Home Sales are now at an annual pace of 5.46 million.
  • Inventory of existing homes for sale dropped to a 4-month supply, marking the 35th month in a row of declines.
  • The median price of homes sold in April was $257,900. This is the 74th consecutive month of year-over-year price gains.
Posted in Market Updates
May 25, 2018

Selling Your House on Your Own Could Cost You

In this extremely hot real estate market, some homeowners might consider selling their homes on their own which is known as a For Sale by Owner (FSBO). They rationalize that they don’t need a real estate agent and believe that they can save the fee for the services a real estate agent offers.

However, a study by Collateral Analytics reveals that FSBOs don’t actually save anything, and in some cases may be costing themselves more, by not listing with an agent.

In the study, they analyzed home sales in a variety of markets. The data showed that:

“FSBOs tend to sell for lower prices than comparable home sales, and in many cases below the average differential represented by the prevailing commission rate.” (emphasis added)

Why would FSBOs net less money than if they had used an agent?

The study makes several suggestions:

  • “There could be systematic bias on the buyer side as well. FSBO sales might attract more strategic buyers than MLS sales, particularly buyers who rationalize lower-priced bids with the logic that the seller is “saving” a traditional commission. Such buyers might specifically search for and target sellers who are not getting representational assistance from agents.” In other words, ‘bargain lookers’ might shop FSBOs more often.
  • “Experienced agents are experts at ‘staging’ homes for sale” which could bring more money for the home.
  • “Properties listed with a broker that is a member of the local MLS will be listed online with all other participating broker websites, marketing the home to a much larger buyer population. And those MLS properties generally offer compensation to agents who represent buyers, incentivizing them to show and sell the property and again potentially enlarging the buyer pool.” If more buyers see a home, the greater the chances are that there could be a bidding war for the property.

Conclusions from the study:

  1. FSBOs achieve prices significantly lower than those from similar properties sold by Realtors using the MLS.
  2. The data suggests the average price was near 6% lower for FSBO sales of similar properties.

Bottom Line

As Dave Ramsey, America’s trusted voice on money, explains:

“Research has shown that, between mistakes, lack of negotiating skills, pricing errors and general exposure on the market, you’ll cost yourself more than the real estate commission…You’ll come out slightly better and with a lot less hassle if you use a top-shelf agent.”

Posted in For Sellers
May 22, 2018

Don’t Wait to Sell Your House! Buyers Are Out Now

Don’t Wait to Sell Your Property! Buyers Are Out Now

Recently released data from the National Association of Realtors (NAR) suggests that now is a great time to sell your home. The concept of ‘supply & demand’ reveals that the best price for an item is realized when the supply of that item is low and the demand for that item is high.

Let’s see how this applies to the current residential real estate market.

SUPPLY

It is no secret that the supply of homes for sale has been far below the number needed to sustain a normal market for over a year at this point. A normal market requires six months of housing inventory to meet the demand. The latest report from NAR revealed that there is currently only a 3.6-month supply of houses on the market.

Supply is currently very low!

DEMAND

A report that was just released tells us that demand is very strong. The most recent Foot Traffic Report (which sheds light on the number of buyers who are actually out looking at homes) disclosed that “foot traffic grew 10.5 points to 52.4 in March as the new season approaches.”

Demand is currently very high!

Bottom Line

Waiting to sell will only increase the competition between you and all of the other sellers putting their houses on the market later this summer. If you are debating whether or not to list your home, let’s get together to discuss the conditions in our market.

Posted in For Sellers
July 31, 2017

Curious About Local Real Estate?

Receive the Latest Local Market Stats

Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!

Get Local Market Reports Sent Directly to You

You can sign up here to receive your own market report, delivered as often as you like! It contains current information on pending, active and just sold properties so you can see actual homes in your neighborhood. You can review your area on a larger scale, as well, by refining your search to include properties across the city or county. As you notice price and size trends, please contact us for clarification or to have any questions answered.

We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better. If you are interested in our company website: http://www.brooklynrealestateinfo.com/

Posted in Market Updates