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Good Deal Not Always About Price

Photo: Diane Ramirez

Many home sellers in the city have reduced the prices of their apartments because of the downturn, but a discount from an inflated figure is not always a bargain. Brokers say buyers have to consider whether the apartment has value that will hold up over time, so even if prices don't start rising soon, the purchase will not be a mistake. Diane Ramirez, president of Halstead Property, said buyers have to looks at location, amenities and building quality, among other things, to determine if the price is right. "It's not focusing so much on 'is it the cheapest,' but looking at the quality of the product, too," Ramirez said. [NYT]

Post Date: 6/22/2009

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