August 7, 2018 rummy

If we work on it right, every one of us could be sitting on our very own gold mine. According to millionaire David Bach, buying a home could be our ticket to wealth. This may sound counter-intuitive to some if given some thought will actually make a lot of sense. Homes have been at the top of the list of peoples investments for centuries. In a CNBC article, self-made millionaire David Bach explained that: “Buying a home is the escalator to wealth in America. Homeownership can also help you retire early, that is, if you pay your mortgage off.” Bach suggests that…

August 1, 2018 rummy

Despite the common belief that renting will save you more bucks, research shows a big gap in between buying and renting wherein for the first time in six years favors going to the former. The results of the latest Rent vs. Buy Report from Trulia show that homeownership remains cheaper than renting, with a traditional 30-year fixed rate mortgage, in 98 of the 100 largest metro areas in the United States. In the six years that Trulia has conducted this study, this is the first time that it was cheaper to rent than buy in any of the metropolitan areas. It’s no surprise, however, that those…

July 31, 2018 rummy

Not all agents are the same, some may be better than others particularly because of their knowledge of the demographics and there are some who just have the right priorities. Let’s talk about what you should look for in an agent before deciding to hire them. One great example of an agent who is in your corner and is always looking out for your best interests is one of the main characters on ABC’s Modern Family, Phil Dunphy. For those who aren’t familiar with the character, Phil is a REALTOR® with a huge heart who always strives to do his best for his family…

July 25, 2018 rummy

Lifestyle changes are dramatic during retirement, so is the change in finances. The question is, “will your home be still a good fit for you after retirement?”. There are a lot of factors to consider in order to determine if your current home will still be sustainable after you retire. According to the National Association of Exclusive Buyers Agents (NAEBA), there are 7 factors that you should consider when choosing your retirement home. 1. Affordability “It may be easy enough to afford your home today but think long-term about your monthly costs. Account for property taxes, insurance, HOA fees, utilities – all the things…

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…