Profile picture for p.bharat

right time to buy co op in nyc

  • September 24 2011 - New York
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Answers (4)

Best Answer

NY might be the most overpriced city in the entire US... Compare price/rent and buying in NY looks down right ridiculous. 
  • September 24 2011
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Profile picture for Sharon Lewis
I agree, with sview, ask a local agent for their opinion or hire an appraiser to give you an opinion of value. It depends on what co op, how long do you plan to live there is important also, if you plan to live there for ten years, then quite frankly, who cares what the current price is, you need a place to live. If its investment, then proceed with due diligence.
  • September 25 2011
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Profile picture for DrewMeyers
Ask Doug Heddings - heddingsproperty.com. He'll give you an honest assessment. 
  • September 25 2011
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Profile picture for sunnyview
You need to ask a local agent for the days on market in the co ops that you are looking for the difference between the listing prices and the sales prices, the most recent sales in properties like you are considering and the historical prices for units like that pre bubble pricing.

All of that information will help you make a decision on whether to buy and what to buy if you decide to jump. Low interest rates are great, but they do not make for a guaranteed deal.
  • September 24 2011
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