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Staten Island real estate inventory is moving regardless of what you may think or hear (believe nothing you hear and half of what you see is my motto). Without mentioning names I have seen brokers/agents thriving and making tens of thousands of dollars a month while others watch the news and believe the market has stalled OR STOPPED. PEOPLE WILL ALWAYS BUY HOMES!!! The statement is a FACT. YES ! values are down, YES ! less people qualify, YES ! there are more foreclosures and short sales than we have ever seen BUT ! and this is the key IF YOUR WILLING TO WORK and GO THE EXTRA MILE Real Estate and Mortgage’s are TRILLION DOLLAR INDUSTRIES. We are not Florida or California (these are among the states that pull down the National Averages). We are NEW YORK the GREATEST STATE in the Country. Take a quick drive over the bridge into Bay Ridge, Bensonhurst, Park Slope and look at market values. In some of these neighborhoods the values are up and sales are thriving. Ask yourself how people are qualifying for homes in Brooklyn? It’s simple, ATTRACT more buyers and show them the borough and show them the homes, schools, transportation accessibility etc. I challenge every realtor to go the extra mile and take time to find and CULTIVATE prospects for the LONG TERM as well as current qualified borrower's. Plant more seeds, water them and watch them grow. RATES At this point, are in the high 3's" and shock has been replaced by the shock of how long that phenomenon persists. Perhaps "shock" isn't the ideal word. Given the market backdrop, we'd expect low rates, but the extent to which they've held steady recently is impressive. In the longer run, its possible rates could go even lower, but their recent steadiness reiterates that which we already know and have been observing: an increased resistance/difficulty in moving lower from here. The time to buy or sell IS HERE. Okay I am done but only for today.
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