July 20, 2018 rummy

Everyone is invited to our BACK TO BACK OPEN HOUSE this Saturday, July 21, 2018. Check the details below: 93 Radford Pl Yonkers, NY 10701: https://bit.ly/2MwOZUj 776 Brook Ave 33b Bronx, NY 10451: https://bit.ly/2NdgAJB Call us at 914.920.2299 for more information. www.NYREEX.com

July 18, 2018 rummy

Despite the forecasts of mortgage rate rise, demand for homes has continuously outnumbered its supply. Let’s find out why. According to the National Association of Realtors (NAR), the inventory of homes for sale “has fallen year-over-year for 36 consecutive months,” and now stands at a 4.1-month supply. A 6-month supply of inventory is necessary for a balanced market and has not been seen since August of 2012. NAR’s Chief Economist Lawrence Yun had this to say, Is There Any Relief Coming? According to the CoreLogic’s 2018 Consumer Housing Sentiment Study, four times as many renters are considering buying homes in the next 12 months than homeowners who are planning to…

July 17, 2018 rummy

We work hard, we get a good job, we start a family, we buy a house and then, when we’re done with that house, we buy a bigger one. We accumulate wealth in our home and then pass that wealth on to our children, who will be better off than us. That’s the American dream. Now let’s take a closer look at some more personal reasons why we buy homes. 1. Owning your home offers you the stability to start and raise a familyBetween the best neighborhoods and the best school districts, even buyers without children at the time of…

July 12, 2018 rummy

It is given that purchasing power is always desired. But with all the current trends in the real estate industry, how true is it that many believe that house-buying power is near historic levels? We keep hearing that home affordability is approaching crisis levels. While this may be true in a few metros across the country, housing affordability is not a challenge in the clear majority of the country. In their most recent Real House Price Index, First American reported that consumer “house-buying power” is at “near-historic levels.” Their index is based on three components: Median Household Income Mortgage Interest Rates Home Prices…

July 10, 2018 rummy

Nowadays, people buy insurance for all sorts of things they hold dear. Jewelry, pets, computer equipment and believe it or not, even body parts. It gives one peace of mind and a sense of security to know their possessions are safe. All the more reason why your home should be insured with the best insurance provider you can find. Here a few things you need to know about home insurance and the top providers of 2018. The first thing you need to know about homeowners insurance is what it covers. One well-known aspect of homeowners insurance is that it covers…

July 5, 2018 rummy

Overall price, initial cash out, monthly amortization etc. are the things we look out for in buying a home. A lot of these may seem higher than it used to last year, but what most do not know is that it is lower compared to how it used to way back. However, it is not just the price of a home that determines its affordability. The monthly cost of a home is determined by the price and the interest rate on the mortgage used to purchase it. Today, mortgage interest rates stand at about 4.5%. The average annual mortgage interest rate from…

June 26, 2018 rummy

Home purchases are big decisions made not without hesitation. It’s normal to question one’s self-capability to pay for such at first. Nevertheless, some brave through this intimidating ordeal and managed just fine. We want to share what the typical first-time homebuyer actually looks like based on the National Association of Realtors’ most recent Profile of Home Buyers & Sellers. Here are some interesting revelations on the first-time buyer: You may not be much different than many people who have already purchased their first homes. If you’re still hesitating or debating whether or not you should go for it, meet with…

June 21, 2018 rummy

We have a lot of potential homeowners and families having second thoughts about buying today. Current mortgage rates and home prices intimidate buyers and it’s completely understandable. ​ With both home prices and mortgage rates increasing this year, many are concerned about a family’s ability to purchase a major part of the American Dream – its own home. However, if we compare housing affordability today to the average affordability prior to the housing boom and bust, we are in much better shape than most believe. In Black Knight’s latest monthly Mortgage Monitor, they revealed that in the vast majority of the country, it…

June 4, 2018 rummy

What’s the first thing that comes to your mind when you heard the word, Summer? I’m guessing –beach, vacation, camping, travel, barbecue and so many more! But, did you know that Summer is a great time to purchase your dream home? Doubtful? Here are the 4 reasons why you should buy a home this summer. 1. Prices Will Continue to Rise Core Logic’s latest Home Price Insights reports that home prices have appreciated by 7% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.2% over the next year. Home values will continue…

May 30, 2018 rummy

Who wouldn’t want to have their dream home right away? I guess — none. For a first-time home buyer, especially to those in working-class, a starter home is a smart choice. A place of your own with lower expenses sounds good, right? However, prices in starter home category continue to rise in the market which gives home buyers second thoughts. A recent CNBC article revealed that there are many factors that delayed older millennials (ages 25-35) from buying a home earlier in their lives. The aftereffects of the Great Recession teaming up with larger education costs forced many to either…