Development Marketing Team

Buy Now or Wait?

While everyone is saying wait to buy, our agents say - “leverage interest rates to increase your purchasing power!”

The national average for a 30 year mortgage was 7.2% as of September 6, 2023. This is higher than it has been in more than 22 years, so why buy now?

01

Negotiability

Interest rates are a leveraging tool for buyers to negotiate pricing with sellers.

02

Pricing

Sellers recognize that the overall carrying costs are higher and therefore, adjust pricing to market conditions (aka reduce pricing)

03

Unconventional Loans

Banks have adjustable rate mortgage products which are currently more competitive than 30-year mortgages, which you can later on refinance when the interest rates come down. Which they will.  Seller financing or lease to purchase options are becoming popular among buyers as an alternative to conventional financing

04

Less Competition in the Market

Since most buyers are on the sideline and waiting, there is less competition and more optionality for buyers who are ready to transact (aka - “A Buyer’s Market”)

05

Rents Go Up

When the sales market is down, demand for rentals increase driving rents up and up! 

DMT Interior

Why First Time Home Buyers Should Consider a New Development

Here’s why buying in a new development might be for you...

No board approval needed means a guaranteed quicker response.

Access move in ready turnkey apartments.

Be the first to live in a sparkling clean residence with modern appliances.

Cut the red tape and get a quicker close with less barriers for entry.

The FAQs of New Dev Buying

What are NYC closing costs?

What are NYC closing costs?

What is a sponsor sale?

What is a sponsor sale?

What are transfer taxes?

What are transfer taxes?

What is a mansion tax?

What is a mansion tax?

What does no co-op or condo board approval mean?

What does no co-op or condo board approval mean?

Let's Find Your Home In New York City

Fill out the form below to access the Powered by DMT Buyers Guide.

Fill out the form below to access the Powered by DMT Buyers Guide.

Fill out the form below to access the Powered by DMT Buyers Guide.

What is your budget?
What is your timeline to purchase?
What type of buyer are you?
What type of residence are you looking for?

Development Marketing Team is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity.