Trouble deciding whether or not it's the time to buy a new home? Here is the latest 2009 New York Real Estate Forecast & Housing Outlook 2010 NYC

New York Real Estate Forecasts 2009 – A Grim or Great Outlook for NYC Property?

Do you read headline news? Like those on CNN or MSN or watch 20/20 or ABC News? Well, for those of us who have in the past few months (like most of us), we have and certainly have become frustrated with what’s going on with the global economy and the New York City real estate market. With housing prices plunging and new inventory condos coming out that are left vacant, what is in store for the 2009 New York housing outlook and real estate forecast for 2010? There are numerous ‘New York real estate experts’ and economist and bankers who have given their two cents regarding the property forecast for New York real estate 2009 and beyond, but how can we be so certain that the dismal sales volumes and decrease in prices are at its end? No one can predict the future, and when it comes to real estate in New York City housing market, noone really can make a solid prediction as the global economy, foreclosures, lay-offs, unemployment, and population migration play a key role in determining the future of New York property 2009. The 2009 NYC real estate market is fluctuating like never before, but one thing is certain, when you consider property investing as a homeowner or investor, you are looking at the long-term and today’s short term analysis and perspectives, New York real estate forecasts 2009 and property outlook 2010 are just that, things that have not yet happened, and may never. So, by taking it step by step, you as a NYC home buyer or property investor can predict your own future and do away with all the doom and gloom of the 2009 New York housing outlook and real estate forecasting models that headline news is trying to use to scare the general public into thinking that it is the end of the world. You are the only one who controls your own future, and the 2009 New York housing forecasts, although bleak, can be your year of great decision making and solid investing. May you make the NYC property outlook positive for you and your family by thinking about the following factors that make it a ripe time to purchase New York real estate by 2010.

Low Mortgage Rates – Great Deals – Basement Bargain Prices – NYC Liquidation Condo

Auction Events – Why is the 2009 New York City Apartment Outlook so Bad?
All throughout history, it is well known that if headline news is negative, it will get more readership (both short and long-term) than positive stories. The general public is drawn to horror stories about foreclosures, 25% dips in property values in a matter of a month, or escalating global economic problems. It is no wonder that now in 2009, the general public’s view on the outlook for New York real estate and housing markets is so bleak! Consumer confidence has completely been eroded by these so called headline news that portray real estate investing as a NYC homeowner or a New York property investor as the worst kind of investment in the world. Other news portrays owning your home as the biggest doodad you will ever own. Others call the 2009 New York housing market the crash of the past two centuries. Well, you are not alone, when it comes to home owners and homebuyers in New York City who are fed up with this continuous negative portrayal about the city as well as the 2009 New York housing market outlook. It is not better for the 2010 New York real estate forecasts either as the US is marred in one of its biggest economic downfalls since it’s founding. Well, a lot can be said for those people who have opted to tune out of these negative news articles that are published every minute on the internet, in newspapers and magazines. 2009 should be a great year for New York home buyers and investors looking to get into the property market for the first time in over a decade. New York City real estate is not cheap. However, the forecast for New York housing 2009 is for a slightly cheaper version of the same property that would have cost you an arm and a leg even just last year. Like most major cities in the US, the 2009 New York real estate market has not been very friendly. Sales are down compared to 2008 and 2007 and the sales prices are also way down from it’s peak about 3 years ago. However, the silver lining to all of this is that condo apartment inventory is at its highest peak since over 10 years ago. Builders have now completed there luxury New York City apartments and are looking to offload them at liquidation action events while speculative NYC real estate investors are looking to get rid of their inventory as well. What this results in is an unstable market … with the advantage going to the New York home buyer in 2009. Read More…

For those who cried when you lost the bidding war for your dream home… think about it in a positive light now. The 2009 New York real estate outlook is calling for a drop in housing prices with a slight recovery coming to the 2010 New York City apartment market.

Yes, let’s think about it for a minute. For those home buyers who lost out on bidding wars a couple of years ago and have not purchased since, well, you can probably get that same New York City apartment for more than 25% less than what you were willing to pay then. Not only that, there is a lot more condo inventory on the market trying to be offloaded right now through developer liquidation condo auction events or investors who want to dump and get out right away. Therefore, as a NYC homebuyer, now is a great time to start looking. Yes, the 2009 outlook for New York real estate market is still calling for a stabilization of the industry by years’ end, with a possibly drop of another 10 – 20% in values before summer, but by then, more people will be looking and there will be a lot less condo apartment inventory for sale as well. As for the 2010 forecast for New York housing market, there should be again a stable market that provides increasing value and sales volume throughout the year, which again leads to another start of a boom time period. With that in mind, why are you waiting? In addition, the 2009 New York housing outlook is for stable mortgage rates that may drop even further. Already at all-time lows, you can now service debt much easier and also pay down your apartment condo mortgage much faster if you purchase a New York City apartment in 2009. Many developer incentives include them paying for closing costs, community fees and property taxes and the state also has the 421 tax abatement for new property purchases. Therefore, the 2009 New York housing forecast should be better than what headline news is calling out. The 2010 New York real estate forecast should also be much more positive, but you will be again competing against other homebuyers if you wait until then. Also, by 2010, the economy should not be as depressed as we see now, an economists say that the mortgage rates will increase through 2010 into 2011. Therefore, as a NYC home owner and homebuyer, don’t you want to create your own housing outlook for 2009 New York real estate for yourself rather than listening to all the chicken littles running around with generalized information regarding forecasts and outlooks that don’t make sense to you? 2009 and 2010 is the perfect time to invest in New York housing real estate, so don’t let these opportunities pass you by!