I've been researching the New York City Real Estate market closely. Even though many segments are starting to come back strong, there are still question marks and uncertainties all over the metro NYC market. And dining establishments, bars, music clubs, arts and entertainment venues are still hurting at historic levels.
There are sellers giving up ownership to rent (as rents go down) instead and renters that were paying rent that cannot afford it any longer due to lost wages that are going homeless at record levels.
In Brooklyn, the median rental price declined 5.6% to $2,786 per month. In comparison with a real example from the MLS: a $180,000 Poconos home in move in condition, 2,034 sq feet, 4 Bedrooms, 3 Bath, Monthly payment estimate is $898 (2.89% interest, including Principal & interest, Homeowner's insurance, and Property tax, as per Bankrate.com mortgage calculator).
The biggest lures to the nearby Pocono Mountains that I hear most often from my NYC clients are the opportunity to escape a densely populated city (and the additional health risks associated with it), the Poconos' well-known scenic nature perks & activities (2 National Parks; 9 State parks; 150 lakes; 19 waterfalls; 170 miles of rivers; and 7 ski areas), the opportunity to skip the commute and work remotely, being able to purchase more home for the money a.k.a. MORE SPACE, the family's future/retirement, and a safer place for the kids to grow up and learn and play sports and do music/drama/arts in well funded schools.
MAKING THE RIGHT DECISION AT THE RIGHT TIME:
The most important thing to do is to speak to an enthusiastic Realtor that will go to bat for YOU, whether you are buying or selling in the Poconos. They can recommend a mortgage banker if necessary that will spend the time with you that's necessary to understand if you are financially ready or not, and step by step expertly navigate you through the financial piece.
If you are thinking of making a move to northeast Pennsylvania, the Poconos, the Lehigh Valley, Scranton/Wilkes Barre, putting your best foot forward is vital, especially right now.
I would be more than happy to discuss all your options, and explain in advance the benefits and warn you of the pitfalls, before it matters.
Certainly helps to have lived and worked in Real Estate in the metro NYC market because the expectations are unique and you just need to know yer stuff and that means providing good solid down to earth local Poconos information so buyers can make the right decision for their families on the buy side and enjoy their transaction!
The best part for buyers and sellers is that mortgage rates are still at record lows. With a little bit of attention to detail, patience and persistence in 2021, buyers and sellers can both achieve their wishes and desires and provide comfort and safety for your family that everyone deserves and can really use in 2021 and beyond!
Give me, Steven J Pomeroy, a call and challenge me to make your dreams come true. My Direct cell is (570) 269-6741. My direct email is soldinthepoconos@gmail.com
Me taking in the sun during a hike on a really cold day at one of our beautiful lakes in the Poconos!