What has changed in the housing market? Recently in our area JH and North Western Queens the prices have held compared to other overbuilt markets in the city such as Williamsburg, Brooklyn and some Manhattan new construction. Fox and CNBC reported increase in housing which means in my words, there is more volume this year than last! That means more people are buying and more buyers are first time buyers. My firm is experiencing more sales this year than last. Yes it is true but everything takes longer, you need to work a little harder at selling. The price has to be right along with the condition of the property. We have a great neighborhood with excellent housing stock. Less property is for sale and less comparables for the banks to use for their appraisals. It is a hard economic time! Luckily we have a great value in Jackson Heights Real Estate and no new construction in the Historic District.
WSJ had a follow up article to the annoucement by the other news agencies. We will keep you posted as changes occur in the market.
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