January 16, 2017 rummy

In many markets across the country, the number of buyers searching for their dream homes greatly outnumbers the amount of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search. Even if you are in a market that is not as competitive, knowing your budget will give you the confidence of knowing if your dream home is within your reach. Freddie Mac lays out the advantages of pre-approval…

January 12, 2017 rummy

  It appears that Americans are regaining faith in the U.S. economy. The following indexes have each shown a dramatic jump in consumer confidence in their latest surveys: The University of Michigan Consumer Sentiment Index National Federation of Independent Businesses’ Small Business Optimism Index CNBC All-America Economic Survey The Conference Board Consumer Confidence Survey It usually means good news for the housing market when the country sees an optimistic future. People begin to dream again about the home their family has always wanted, and some make plans to finally make that dream come true. If you are considering moving up…

January 11, 2017 rummy

  We can hit you with advice and free information until your eyes and ears hurt, but we know when it comes to money most people want to see results.  If we say we’re going to hit the ground running in 2017 there is only one way to prove a statement like that; through ACTION In our most recent blogs and videos we stressed ACTION; It’s a new year!  Go out there and get it done!  Just DO It!  Well let’s see, it’s only the 11th and already we have a CLOSING to tell you about.  The best part about…

January 10, 2017 rummy

Many people wonder whether they should hire a real estate professional to assist them in buying their dream home or if they should first try to do it on their own. In today’s market: you need an experienced professional! You Need an Expert Guide if You Are Traveling a Dangerous Path The field of real estate is loaded with land mines; you need a true expert to guide you through the dangerous pitfalls that currently exist. Finding a home that is priced appropriately and is ready for you to move into can be tricky. An agent listens to your wants…

January 3, 2017 rummy

Some Highlights: As we usher in the new year, one thing is for certain… if you plan to buy or sell a house this year, you need a real estate professional on your team! There are many benefits to using a local professional! Pick a pro who knows your local market and can help you navigate the housing market!   www.NYREEX.com  

December 28, 2016 rummy

Every three years, the Federal Reserve conducts a Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey, which includes data from 2010-2013, reports that a homeowner’s net worth is 36 times greater than that of a renter ($194,500 vs. $5,400). In a Forbes article, the National Association of Realtors’ (NAR) Chief Economist Lawrence Yun predicts that by the end of 2016, the net worth gap will widen even further to 45 times greater. The graph below demonstrates the results of the last two Federal Reserve studies and Yun’s prediction: Put Your…

August 1, 2016 rummy

  Many people wonder whether they should hire a real estate professional to assist them in buying their dream home or if they should first try to go it on their own. In today’s market: you need an experienced professional! You Need an Expert Guide if You Are Traveling a Dangerous Path The field of real estate is loaded with land mines. You need a true expert to guide you through the dangerous pitfalls that currently exist. Finding a home that is priced appropriately and ready for you to move in to can be tricky. An agent listens to your…

July 13, 2016 rummy

The widespread myth that perfect credit and large down payments are necessary to buy a home are holding many potential home buyers on the sidelines. According to Ellie Mae’s latest Origination Report, the average FICO score for all closed loans in May was 724, far lower than the 750 or 800 that many buyers believe to be true. Below is a graph of the distribution of FICO scores of approved loans in May (the latest available data): Looking at the chart above, it becomes obvious that not only do you not need a 750+ credit score, but 54.9% of approved…

July 13, 2016 rummy

WHITE PLAINS—Prospective homebuyers who were out in force during the first several months of 2016 came to the closing table during the second quarter to post a five-year high of transactions. Realtors in the four-county area comprising the Hudson Gateway Multiple Listing Service, a subsidiary of the Hudson Gateway Association of Realtors, reported 4,526 closings of single-family houses, condominiums, cooperatives and 2-4 family houses, an increase of 23% over the 3,669 closings reported in the second quarter of last year. The powerful second quarter results continued the strong recovery in this region that commenced in 2011. The increases were largely…

July 11, 2016 rummy

As a seller, you will be most concerned with the ‘short term price’ – where home values are headed over the next six months. As a buyer, you must be concerned not with price but instead with the ‘long term cost’ of the home. Many economists have pointed to Brexit (Britain’s exit from the European Union) as a reason that interest rates will remain low for the next few months. But Trulia’s Chief Economist Ralph McLaughlin warns that this will not always be the case in a recent post: “While the departure of the UK from the European Union has…