Blog

Don't Wait to Buy a House. Buy a House & Then Wait!

For buyers: mortgage rates have increased significantly this year. As of October 11th, the 30 year fixed-rate mortgage is now at 4.9% and their highest level since April 2011. For example, if you bought a $1m property and financed 80%, $800,000, the mortgage would be $4,245 vs. $3,865 per month at 4.1%.
​​​​​​​ 
For sellers: while there are still pockets of neighborhoods seeing increased pricing, the market has declined in some neighborhoods as much as 10%. For example, if your property was worth $1.1m in the beginning of the year in Chelsea, it is now worth $1m.

In summary, buyers are becoming more motivated to make offers on properties and sellers seem to be more open to realistic pricing. This is true in my personal experience - it is time for buyers and sellers to start making deals!
​​​​​​​
​​​​​​​I'm the perfect agent to make these deals happen! If you know anyone looking to buy, sell or rent, please reach out to me at 212-941-2634 & Danielle.Nazinitsky@corcoran.com. 
​​​​​​​

4 Lucky Buyers in Contract!
​​​​​​​