I'm watching the housing news and thinking: It's the best of times to get your money into real estate IF IF IF you can find a way to do it. Also this: It's a great time to sell.
Besides incredibly cautious, skittish, tight-fisted lenders who are keeping credit pretty scarce, all-cash buyers are seizing up deals all over Brooklyn. In effect, buyers with deep pockets look awfully attractive to sellers compared to buyers with a mortgagor to keep happy. Check it out, the National Association of Realtors is reporting that all-cash buyers are 29% of all sales across the country. YOu know that number is higher in New York City.
What's more the Wall Street Journal is reporting a "plunge" in the available inventory. There ain't a whole lot to buy and bidding wars have come back.
Find out what's happening in Park Slopefor free with the latest updates from Patch.
But there's comfort in the idea that once you get to the closing table your mortgage is one of the cheapest ever in history and your property is the subject of rosy forecasts of future value. Here's a quote from Bloomberg news is predicting price gains up to 3.6 percent.
