One Bedroom Apartments: A Good Buy In Manhattan

The inventory for one bedroom apartments has increased because some people are having difficulty with financing. If you can get a mortgage, then it is a buyer’s market. Work on your credit score and save some money. GO FOR IT!
clipped from www.nytimes.com

Now that has changed. One-bedrooms are sitting on the market largely because the buyers most likely to purchase them can’t get mortgages. “Getting financing is very challenging,” said Diane M. Ramirez, the president of Halstead Property. “It can be difficult if the buyer of the one-bedroom is a first-time buyer. Some of the buyers who were able to get financing when the banks were throwing things at them are gone, and the requirements are stiffer.”

The number of studios available for purchase is not piling up in the same way because there are fewer of them, Ms. Ramirez said.

Brokers say that many people who bought their apartments at or near the top of the market and now must sell are often simply trying to avoid losing money on the deal.

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August 3, 2008. Uncategorized.

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