For New York Real Estate Prospectors, Wait and See May Finally Be Turning into Come and Buy

PR Log (Press Release) – Dec 04, 2008 – New York, NY, – Bellmarc is definitely keeping its finger on the pulse of New York real estate, and is spotting market trends in all the neighborhoods they cover, which is all of them. While there had been a wait and see attitude among buyers during the summer, that is shifting as prices are coming down in many of New York’s most desirable neighborhoods.

The recent instability in the national economy has not hit the New York real estate market as much as it has in other areas of the country, but prices are coming down in many areas like the Upper East Side, where it’s a great time to buy. Bellmarc believes now is a great opportunity to buy in this tiny neighborhood as the prices have come down, not dramatically, but they have come down, signaling the beginnings of a buyers market in that neighborhood.
With limited property on the market right now, buyer activity may be surprising. Plus with financial times as uncertain as they are, many people are seeing real estate as a sound investment.

Meanwhile the New York real estate market saw a decent amount of transactions on the Upper West Side, another highly desirable neighborhood for its proximity to Central Park. September ended with a buyers pause in this market, as buyers are being prudent and evaluating the market for good deals. Still, there were some real estate deals to be found for first time buyers, with studios selling in the $300K range.

Across the board in New York real estate, the wait and see attitude continues to be the prevailing market attitude but the shift to a buyers market is making it an exciting and energetic time for buyers and brokers alike.

For additional information, visit http://www.bellmarc.com or call 212-252-1900

About Bellmarc – Bellmarc is a premiere real estate company located in New York City, specializing in rentals, sales, and property management. They pride themselves on having their fingers on the pulse of the latest market trends throughout New York’s vast neighborhoods.