Property at a Discount

The down side of our current situation is that many Americans are struggling to pay off their mortgages, lending institutions are getting a bit stricter in their lending policies, and people's homes are losing value. However, for those who have stayed afloat, maintained their jobs, and still have a good amount of liquid assets, this is a wonderful time to buy a home.

Walter Updegrave, editor of Money Magazine, agrees. Read his article here.

"...if you're really serious about owning a home, you're actually in a very good position as a buyer right now. Prices have fallen substantially over the past year or so, which should give you lots of leverage to negotiate a favorable price." - Walter Updegrave

Time to Rent?

While the sales market has taken a couple blows, the rental market has taken a mere pinch. Much of the effect is seasonal; many more leases start in the spring and summer than in the fall and winter, increasing demand and therefore price points in the warmer seasons. That in mind, the trend now is lower rents and more negotiability. Some landlords are even paying the broker fee, especially in the luxury rental buildings. However, the idea that landlords are so desperate for tenants that they will take any offer from anybody is not true. This is still New York City.