December 17, 2018 rummy

Back then, before the historic real estate bust in 2008, homeowners used their house as like ATMs through a method now known as “Cash-out Refinances”. This basically turned their equity into cash leaving most owners with little to no equity in their homes. When the prices started to fall, many found their houses in a negative equity situation so they stopped paying their mortgages altogether. This time around, homeowners are being careful and more responsible. Today, the equity situation is totally different. According to a new report from ATTOM Data Solutions more than 1-in–4 homes with a mortgage have at…

December 12, 2018 rummy

If you are planning to buy a house, knowing the interest rate at the time of your purchase will give you an idea on how much your monthly payment will look like. Keep in mind that even the slightest of change in the interest rate could significantly increase or decrease your mortgage depending on your loan amount. Below is a chart created using Freddie Mac’s U.S. Economic & Housing Marketing Outlook. As you can see, interest rates are projected to increase steadily throughout 2019. How Will This Impact Your Mortgage Payment? Depending on the amount of the loan that you…

December 11, 2018 rummy

One of the best things about Americans is that we learn quickly. The last real estate market crash in 2008 was a huge event that left the nation traumatized. A lot have been speculating about the future of real estate since then, paying close attention to all trends and changes, making them seem a bit paranoid. Good news is, everyone has is now more aware because of that, people are now more responsible and all signs point to a better more stable 2019 for the real estate industry. What happened then… When real estate values began to surge last decade,…

September 21, 2018 rummy

If you’re debating on moving to your dream home, you might be in luck. In some areas in the U.S. home equities rise which could give way to spending less for the long-awaited dream home for the lucky 25% of homeowners with a mortgage. Home equity is defined as the difference between the home’s fair market value and the outstanding balance of all liens (loans) on the property. While homeowners pay down their mortgages, the amount of equity they have in their homes climbs each time the value of their homes go up! According to the latest Equity Report from…

September 5, 2018 rummy

Let me tell you a story. There is a man who lives in a town where all residents had a job, a house, and a car or two in their driveway. Every day he went to work and came home and sometimes he would go out on the weekends for a drink. He seemed happy, yet he always complained about little things. Deep down his soul, he knows he’s not happy. He regrets the fact that he did not go after the one thing in life that he ever wanted. He sold out for the security of a 9-5 job…

August 29, 2018 rummy

The internet is filled with myths and fake news coming from all platforms, social media sites, blogs and vlogs are amongst the commonly utilized channels. It has conquered politics, entertainment, and product and services alike. Unfortunately, they have infiltrated the real estate market as well. Here are the top myths on Real Estate today. Myth #1: We Are Headed for Another Housing Bubble Home prices have appreciated year-over-year for the last 76 straight months. Many areas of the country are at or near their peak prices achieved before the last housing bubble burst. This has many worried that we are…

August 24, 2018 rummy

It is with my utmost pleasure and excitement to announce that NYREEX has joined eXp Reality. We have started a strong relationship built on logic, trust and a shared vision of unconditionally satisfying our clients in terms of coverage, client experience, and level of service. We are looking forward to the great opportunities this partnership will bring to all of us. Connecting with like-minded, top tier experts and innovators opens new doors for expansion to other locations, possibilities of coverage in different states, and the early adoption of what will become the most reliable, trust worthy, and effective cloud brokerage…

August 21, 2018 rummy

If you think about it, it makes sense to pay for something monthly that you know will be yours in a few years time. You can consider your monthly amortization a deposit to your personal savings, only you cannot withdraw cash from it. A study revealed that the median net worth of a homeowner was $231,400 – a 15% increase since 2013. At the same time, the median net worth of renters decreased by 5% ($5,200 today compared to $5,500 in 2013). These numbers reveal that the net worth of a homeowner is over 44 times greater than that of…

August 2, 2018 rummy

Most people can’t help but be concerned that mortgages changes may lead to another disaster, and we can’t blame them for we’ve been there before. The question remains, is there any foothold to peoples worries? Are lending standards truly propping up our home prices? Back in 2005, Federal Reserve Chairman Alan Greenspan described the dramatic increases in residential real estate values as a “froth in housing markets.” Greenspan went on to say: “The increase in the prevalence of interest-only loans and the introduction of more-exotic forms of adjustable-rate mortgages are developments of particular concern…some households may be employing these instruments to purchase homes that…