Thursday, May 15, 2008
NEW YORK - Manhattan apartments hit fresh record highs in the first quarter of 2008. According to city's top real estate agencies, strong sales in the city's booming luxury segments have been the market's main driver, but that overall sales are slow. Demand is high and supplies are tight for multi-million dollar luxury apartments in Manhattan.
The average price of a New York City apartment ranges between $1.63 million to $1.72 million in the first quarter of 2008, according to separate reports, there is an increase of anywhere between 19% and 47% over average apartment prices for the first quarter of 2007. If two of the most elite addresses with units on the market are excluded - 15 Central Park West and the Plaza, the average prices came down to $1.42 million.
The average price of a New York City apartment ranges between $1.63 million to $1.72 million in the first quarter of 2008, according to separate reports, there is an increase of anywhere between 19% and 47% over average apartment prices for the first quarter of 2007. If two of the most elite addresses with units on the market are excluded - 15 Central Park West and the Plaza, the average prices came down to $1.42 million.
posted by We buy houses
@ 3:22 AM
permanent link | Post a Comment
| 0
comments
Friday, May 9, 2008
Your home is not just a house anymore, this is an investment for many and it is the largest investment one can ever make. According to information given by a realtor in Greater Alexandria, the local real estate market is continuing to have steady growth in value.
In 2006, the average cost of a residential house in Alexandria was about $161,290 and in 2007 the average cost of a home has increased to $168,132. One of the greatest financial aspects of buying a house is the ability to leverage your money. Leverage permits you to use a small down payment and financing to purchase a larger investment. For instance, if you have bought a $150,000 home with 20 percent down, you leveraged the $30,000 down payment to purchase an asset worth 5 times that amount.
The benefits of leverage really become apparent with appreciation or the rise in value of a property. If you take the same $150,000 and the property values in your area were to increase on an average of 3 percent a year, your house would then be worth almost $175,000 in 5 years.
In 2006, the average cost of a residential house in Alexandria was about $161,290 and in 2007 the average cost of a home has increased to $168,132. One of the greatest financial aspects of buying a house is the ability to leverage your money. Leverage permits you to use a small down payment and financing to purchase a larger investment. For instance, if you have bought a $150,000 home with 20 percent down, you leveraged the $30,000 down payment to purchase an asset worth 5 times that amount.
The benefits of leverage really become apparent with appreciation or the rise in value of a property. If you take the same $150,000 and the property values in your area were to increase on an average of 3 percent a year, your house would then be worth almost $175,000 in 5 years.
posted by We buy houses
@ 12:35 AM
permanent link | Post a Comment
| 0
comments