BUYING BROOKLYN REAL ESTATE

Purchasing Real Estate in New York City

The Brooklyn real estate market in 2024 is still full of opportunities, even with its challenges. While the frenzy of 2021 and 2022—where properties often sold above asking price—has calmed, Brooklyn remains a competitive place to buy, especially with limited inventory.

Interest rates hovering around 6-7% have made today’s buyers more discerning. Homes that need significant renovations or are in less prime locations are staying on the market longer. But well-maintained properties in desirable areas? They’re still getting snapped up quickly.

For those holding out for lower interest rates, here’s something to keep in mind: if rates drop, property prices could rise again. Right now, there are opportunities to find value in this market—and partnering with a knowledgeable real estate agent can help you make the most of them.

Here are a few tips to help you navigate buying a home in Brooklyn or Manhattan:

Finding Value in the Right Price Range

The days of finding a hidden gem for next to nothing may be behind us, but there are still great deals to be had if you know where to look. By analyzing recent sales data and understanding market trends, you can find properties that offer significant value within your budget. With the right guidance, you can navigate Brooklyn’s tight inventory and uncover homes that might not be obvious at first glance.

Home Sweet Home: Seeing the Potential

Sometimes, a home’s potential isn’t obvious from the first showing. A house that needs a little work might end up being your dream home with a few renovations or design updates. I work with clients to help them envision what a space could become. Whether it’s a layout change or simple cosmetic upgrades, I’ll provide insights into how to unlock a property’s true potential—without overspending.

Quality Over Quantity: Focusing Your Search

It’s easy to get caught up in scrolling through listings and virtual tours, but the best approach is a focused one. The right home is about more than great photos. You need to understand the neighborhood, the amenities, and the long-term potential of the property. I provide my clients with detailed property insights, so every home you view aligns with your needs and lifestyle.

Understanding New Commission Laws

2024 also brings some important changes to how commissions work in NYC real estate. These new rules are designed to give buyers more transparency and control. Before you even start touring homes, you’ll need to sign a representation agreement with your buyer’s agent, which lays out how your agent will be compensated. This is one of the many changes aimed at making the process more consumer-friendly. Read more about the new commission rules here.

Your Dream, My Mission

Your goal of finding the perfect Brooklyn home is my mission. I’ve been helping clients navigate the ebbs and flows of the NYC real estate market for over a decade, and I’m here to guide you through every step of the process. From understanding the market to negotiating the best deal, I’m committed to making your home-buying journey as smooth as possible.

Buying a home in Brooklyn isn’t just about finding a place—it’s about securing a piece of the city that feels like home. Let’s work together to make that happen.

CONTACT DETAILS

craig.yoskowitz@corcoran.com
(917) 825-7787

The Corcoran Group
Park Slope Office
125 Seventh Avenue
Brooklyn, NY 11215

Top-Ranked Brooklyn
Real Estate Agent