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发帖数: 1912 | 1 "Apartment rents in Brooklyn have also accelerated, jumping
14 percent in June from a year earlier to a median of $2,737,
the highest in records dating to 2008, Miller Samuel and Douglas
Elliman said in a separate report today. In Manhattan, rents
climbed 1.9 percent last month to $3,195, putting them 2.1
percent from the previous peak reached at the end of 2006."
“At one open house on a weekend, it literally looked like
a tour bus just unloaded in front of the place,” said Lang, a
29-year-old lawyer. “There were 30 or 40 people milling
about.”
“Even at today’s mortgage rates, our monthly payments are
$3,300, and we figure we can rent the place out for $3,500 or
$3,600 if we left,” said Lang, who works in the New York office
of a Canadian law firm. “While we’re living here, it’s like our
rent has gone down.”
full article
Wire: Bloomberg News (BN) Date: Jul 11 2013 11:04:56
Brooklyn Home Prices Rise to Record in New York Sales Frenzy (1)
(Updates with mortgage rates in 15th paragraph,
neighborhood prices beginning in 16th.)
By Oshrat Carmiel
July 11 (Bloomberg) -- Home prices in Brooklyn, New York’s
most populous borough, surged to a record as low interest rates
and rising rents across the city swelled demand for
homeownership amid a dwindling supply of properties for sale.
The median price of condominiums, co-ops and one- to three-
family homes that sold in the second quarter was $550,000, up 15
percent from a year earlier and the highest in more than a
decade of record keeping, New York-based appraiser Miller Samuel
Inc. and brokerage Douglas Elliman Real Estate said in a report
today. The inventory of listings fell 19 percent to 4,704, the
lowest for a second quarter since Miller Samuel began tracking
the data in 2008, said Jonathan Miller, the firm’s president.
“You choke off supply, you have a slowly improving
economy, and prices rise,” Miller said. “And then you compound
it by widening your source of demand, when one of your
competitors -- Manhattan -- is experiencing the same inventory
problem.”
Rent gains across New York coupled with mortgage rates at
historical lows have helped push buyers into a sales market
that’s more affordable than Manhattan’s, while owners are still
holding back from listing their properties. Homeowners who
bought during the previous peak, when Brooklyn prices hit a
median of $540,000 in 2007, still don’t have the equity to sell
and come up with a down payment for something new, Miller said.
“You’re not under duress, you didn’t lose your job, you
just can’t make the move, so what do you do? Nothing,” Miller
said. “You just sit and wait for the market to improve.”
Rising Rents
Apartment rents in Brooklyn have also accelerated, jumping
14 percent in June from a year earlier to a median of $2,737,
the highest in records dating to 2008, Miller Samuel and Douglas
Elliman said in a separate report today. In Manhattan, rents
climbed 1.9 percent last month to $3,195, putting them 2.1
percent from the previous peak reached at the end of 2006.
The Manhattan vacancy rate was 1.13 percent, down from 1.41
percent in the first quarter, brokerage Citi Habitats said in a
report today.
Justin Lang, whose lease on a co-op in Manhattan’s Soho
neighborhood expires next month, anticipated that the owner
would raise his rent. The landlord’s real estate agent, Brandon
Bogard of Douglas Elliman, confirmed his hunch, so Lang hired
Bogard for a different task: to help him find an apartment to
buy in Brooklyn.
The search -- for a condominium in Williamsburg priced at
less than $650,000 -- started in February amid heavy
competition.
Tour Bus
“At one open house on a weekend, it literally looked like
a tour bus just unloaded in front of the place,” said Lang, a
29-year-old lawyer. “There were 30 or 40 people milling
about.”
After two months of looking, Lang and his wife concluded
they were priced out of Williamsburg. They started looking in
nearby Greenpoint, which is less expensive, while still
increasing their budget.
On a Friday morning, they offered $690,000 for a one-
bedroom apartment on Calyer Street. The owner had been seeking
$699,000. By Monday, they increased the bid to $710,000 for the
827-square-foot (77-square-meter) unit, which has a private
terrace with a hot tub upstairs from the main apartment.
The couple signed a contract at the end of June and plan to
complete the deal in September after getting a mortgage.
Mortgage Rates
“Even at today’s mortgage rates, our monthly payments are
$3,300, and we figure we can rent the place out for $3,500 or
$3,600 if we left,” said Lang, who works in the New York office
of a Canadian law firm. “While we’re living here, it’s like our
rent has gone down.”
The average rate for a 30-year mortgage is 4.51 percent, a
two-year high, McLean, Virginia-based Freddie Mac said today.
While that’s up from a near-record low of 3.35 percent in early
May, it’s still well below the average of about 5.3 percent for
the past 10 years, according to data compiled by Bloomberg.
In Brooklyn’s Williamsburg and Greenpoint neighborhoods,
the median home price jumped 24 percent in the second quarter
from a year earlier to $716,011, Miller Samuel and Douglas
Elliman said. With little to buy in those areas, the number of
sales dropped 6.4 percent to 205 deals.
In northwest Brooklyn, including neighborhoods such as Park
Slope and Carroll Gardens, the median price for one- to three-
family homes climbed 22 percent to $1.6 million, the firms said.
Sales Pace
Properties in borough spent an average of 146 days on the
market in the second quarter, down 8.2 percent from a year
earlier, according to Miller Samuel and Douglas Elliman. The
absorption rate, or the amount of time it would take to sell all
the listed homes at the current pace of deals, was 7.6 months,
the second fastest in five years of record keeping. The fastest
was in the first quarter, at 6.2 months.
New York City added 66,100 jobs in the 12 months through
May and the unemployment rate slipped to 8.3 percent, the lowest
since 2009, state Labor Department data show.
The supply of homes on the market will remain tight until
the job market improves more dramatically, creating incentives
for people to move or upgrade their living space, said Michael
Guerra, the Douglas Elliman executive vice president who
oversees Brooklyn sales.
“We have fewer people choosing to move because we have
less job mobility than we had pre-recession,” Guerra said. “So
if you didn’t get a new job or promotion, you’re going to stay
put and you don’t list your property.”
In Queens, the median sale price climbed 9.9 percent from a
year earlier to $390,000, Miller Samuel and Douglas Elliman said
in another report today. Inventory plunged 29 percent to 6,225
homes on the market, while deals increased 8.1 percent to 2,493.
For Related News and Information:
Manhattan Home Prices Rise in Busiest 2nd Quarter Since ’07
NSN MPBJGL6TTDUX
Manhattan Condo Builders Exploit Demand With Price Increases
NSN MI47ZV6TTDWZ
Amazon Said to Seek Up to 500,000 Square Feet in New York City
NSN MIYAY86S9733
Stories on the homebuilding industry: NI HOM
U.S. housing and construction data: HSST
Miller Samuel Manhattan prices: MLH SQFT GP
--Editors: Christine Maurus, Daniel Taub
To contact the reporter on this story:
Oshrat Carmiel in New York at +1-212-617-3317 or
o*******[email protected]
To contact the editor responsible for this story:
Kara Wetzel at +1-212-617-5735 or
k*****[email protected] | y***j
发帖数: 11235 | 2 今天早上听新闻说全国范围这个月foreclosure数量7年还是几年的最低 |
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