Month: May 2020

These markets could see the sharpest drop in home prices during coronavirus pandemic

May 28, 2020

Both homebuyer and seller demand have weakened dramatically in the last month, as Americans hunker down to help stop the spread of the coronavirus.

While some are still shopping online, doing virtual tours, the spring season was essentially over before it started. Although sales are way down, home values may not suffer as much, except in certain markets.

Home prices were very hot at the beginning of this year and heading into the crisis, and the expectation is that while the gains in values will likely slow, prices will not fall nationally. That is because unlike during the subprime mortgage crisis, when there was a serous glut of homes for sale, there is now an increasingly severe shortage. Home values fell as much as 50% in some markets a decade ago, but market dynamics are far different now, and the supply-demand imbalance favors stronger prices.

In the first two weeks of March, new listings were up 5% annually on average. By the second week of April, they were down 47%, according to realtor.com. April is usually the strongest month for new listings.

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Governor Cuomo Releases Plan to Reopen NYS Economy • The plan will be implemented in phases, and based on regional analysis and determinations.

May 28, 2020

Amid the ongoing COVID-19 pandemic, Governor Andrew M. Cuomo today outlined a phased plan to re-open New York and re-imagine a new normal for the state starting with construction and manufacturing. The plan will be implemented in phases and will be based on regional analysis and determinations. Based on CDC recommendations, once a region experiences a 14-day decline in the hospitalization rate they may begin a phased re-opening. The State is closely monitoring the hospitalization rate, the infection rate and the number of positive antibody tests, as well as the overall public health impact, and will make adjustments to the plan and other decisions based on these indicators.

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New! Fort Green Listing, 168 Lafayette Avenue, 2 | $7,975

May 21, 2020

Click here for a virtual tour.

Exquisite 4BR 2.5Bth Triplex

This fabulous 4BR – 2.5Bths triplex is approx. 2700 sq ft. This generous layout has been completely restored to an incredibly high standard with level five finishes. Soaring ceilings let fantastic light pour into the large rooms through original shuttered windows. Stainless steel appliances and high end light fixtures abound in the beautiful contemporary kitchen. Four huge bedrooms will all fit a king bed and have original mantel pieces and restored moldings. Fifteen large closets, including three walk ins and built in book shelves provide plenty of storage. The baths have lovely claw foot tubs with Carrara marble counter tops and sparkling new subway tile. The apartment boasts a laundry room with full size washer and dryer. These top three floors have a private entrance and tree lined street views. Split System Air. Heat is included. This large Brooklyn townhouse allows for a sweeping staircase that rises slowly and leads up to a sun filled skylight, an elegant entry into your new home. All electrical has been upgraded, CAT5 and an alarm system is also available. Pets upon approval. Close to all transport, great restaurants like Olea and Fort Greene park. Nestled in cultural center of Brooklyn including BAM, the Harvey Theatre and Mark Morris.

168 Lafayette Avenue, 2 | $7,975

Key Details Fort Greene, New York
New Listing
Rental $7,975 | Date listed: 5/13/2020 | ID: 20142719

Residence Information
Type: Triplex | Rooms: 8.0 | Bedrooms: 4 | Full Bathrooms: 2 | Half Bathrooms: 1.0
Windowed kitchen: Yes | Air conditioning: Central Air | Washer and dryer: Yes

Building Information Period: Post-War | Building Type: Brownstone | Pets allowed: Yes

Call today or send me a message on my contact me page today.

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