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Real Estate Section of “The New York Times”

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The newspaper I selected is online version of “The New York Times” on their website. The Real Estate section of the newspaper is well organized and structured. You can easily search for properties that are for sale as well as properties on rent in state or city of your choice. You can define your requirement such as number of bedrooms, minimum price, maximum price and property type and find a perfect match addressing your property needs. The average 30-year rate dropped 0.05 percentage point to 4.78 percent that equals the lowest rate in 1971. Even 15-year mortgage rate dipped 0.03 percent point to reach 4.29 percent, which is again the lowest since 1991. "Affordability conditions just seem to be improving by the minute," said Millan L. B. Mulraine, economics strategist at TD Securities in Toronto. (Adler)

Residential Sales prices are differs as per the region and facilities required in the apartment. The average price for one bedroom apartment in Manhattan – Upper West Side would cost $325,000 - $400,000 for 600 Sq. Ft. of accommodation space. Similarly, one bedroom apartment in Manhattan – West Harlem will cost $400,000 - $600,000 for 700 Sq. Ft. Prices are higher for apartments in Upper East Side and Chelsea area ranging from $700,000 to $1.4Million. A four-five bedroom apartment in Four Boroughs will cost between $365,000 to $733,000 depending on the area Tottenville or Riverdale or Bayside. Apartment in Brooklyn Heights area are costlier. Two to Three bedroom apartment in Long Island will cost somewhere in between $270,000 to $775,000 if area is selected from Sound Beach or Port Washington or Cold Spring Harbor. Old Westbury area accommodations are costly and vary between $1.5 million to $2million for a four-bedroom apartment. In Westchester or Putnam, two-three bedroom apartment prices vary from $364,000 to $1.3million. In Rockland or Orange, one can find two-five bedroom apartments in between $344,000 to $900,000. Similarly in New Jersey, it will cost $250,000 to $1.15Million for three-four bedrooms apartment. A three-bedroom 2002 Sq. Ft. apartment in Stuyvesant, N.Y will cost $299,000; two-bedroom at Miami Beach, FLA will cost $305,000 for 1,180 Sq. Ft and two-bedroom unit in Cincinnati will cost #309,000 for 3,400 Sq. Ft. The national home price index showed an 8.9 percent decline in the third quarter of 2009 from the third quarter of 2008, a substantial improvement over the 14.7 percent decline in the annual rate of return in the second quarter of 2009. (Hernandez)

The data on home construction showed a decline in the rate of single and multiple-family home building, contributing to an overall decrease of 10.6 percent in housing starts from September. In total, construction was at a seasonally adjusted annual rate of 529,000 housing units in October, falling short of the 600,000 predicted by analysts. Building permits, an indicator of future construction, declined as well, to an annual rate of 552,000, from 575,000, also falling short of forecasts. (J. C. Hernandez)

I found the real estate section very helpful. You can buy, sell or rent a home easily. It is extensively informative for people who are new or unfamiliar with real estate prices in United States. 

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