Real Estate development is booming in the Bronx right now, specifically in the South Bronx. The bulk of the new development activity appears to be centered in the South Bronx around Mott Haven, Melrose, and Port Morris. And Team Fuentes are the Bronx based licensed realtors that know the lowdown on the current state of the market. Our agents have an insider’s view of the community’s real estate market.
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Most people who are moving into the Bronx from other boroughs want places that are an easy commute to Manhattan, so the area around Mott Haven is very popular. From Mott Haven, it takes about 40 minutes to get into Midtown Manhattan.
After significant rezoning, the formerly industrial waterfront areas of the Bronx are seeing a rush of development, but most of those developments are a few years away from being finished. And much of that development will be devoted to high priced condo units or affordable housing rental units. With many of them coming to market within a projected 1-2 year window and beyond, now is the time to have the experienced realtors at Team Fuentes to help you explore your best options.
Buyers should be willing to expand their search—and head a little further up on the #1 or the #6 MTA subway lines. You have Kingsbridge Heights, University Heights, Kingsbridge terrace, and further up, neighborhoods around Fordham. Especially, the area around Grand Concourse is known for it’s grand prewar co-op buildings, and though Riverdale is more known for its suburban-style mansions, it’s also packed with smaller apartments that will fit the budget of a first-time buyer.
For savvy buyers with an eye to future property values, it’s recommended researching any potential new development project that’s been slated for the block or the neighborhood. If there’s a new construction rental that’s going up, for instance, that’s the block you want to be on.
If you have the financial means to buy something a little bigger than a one-bedroom, consider one of the multi-family homes uptown (and the lower price points). The multi-family is the real hot ticket in the current marketplace. There’s a lot of opportunity for first-time buyers to leverage this availability. And naturally, if you’re interested in buying a multi-family that you plan to rent out as an investment, you’ll want to do your due diligence about any current tenants, as well as any necessary renovations in what could be termed fixer-uppers.
Team Fuentes’ understanding of the trends in the market place assist our buyers in purchasing their first home is our goal. As a first time homebuyer, our services can give you an advantage making it possible for you to get pre-approved for your home mortgage loan. And our work on your behalf doesn’t end when the offer is accepted! We assist our buyers throughout the mortgage underwriting process and monitor the transaction until the lender has cleared and closed the loan.
Our goal is to create a lasting relationship with each of our buyers that continues after the closing of their home has been completed. Let us work with you to make your dream home in the Bronx a reality by contacting us at (718) 280-6666. A Bronx based Team Fuentes professional is waiting for your call.