March 8, 2019 rummy

We are definitely headed to a balanced market this year. As things start to unfold, we are beginning to realize that last year’s worries are nothing more than speculations. Price hikes are starting to soften as more inventory is introduced, this is good news to sellers and buyers alike. The previous housing market was fueled by an artificial demand created by mortgage standards that were far too lenient. When this demand was shut off, a flood of inventory came to market. This included heavily discounted distressed properties (foreclosures and short sales). Today’s market is totally different. Mortgage standards are tighter…

March 7, 2019 rummy

As the rates continue on its slow and steady descent, it is now in its lowest by far in the last 12 months. This is good news to prospective buyers looking to buy their first house or existing homeowners planning to move up to their dream home. According to Freddie Mac’s Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at their lowest for 2019. Rates like these haven’t been seen since February 2018! Last week’s survey results reported an interest rate of 4.35%. This is a welcome change from the near 5% rates seen…

March 6, 2019 rummy

Although it can be said that the amount of the benefits depend on where you live, the fact remains that there are many financial and non-financial reasons favoring homeownership. Non-Financial Benefits Educational Achievement: Homeownership has a positive impact on academic achievement, including reading and math performance in children 3-12 years old. Civic Participation: “Owning a home means owning a part of the neighborhood.” Homeowners have a stronger connection to their neighborhood and are more committed to volunteer. Health Benefits: Adjusting for a range of demographic, socioeconomic and housing-related characteristics, homeowners have a substantial health advantage over renters. Public Assistance: The…

March 5, 2019 rummy

With the traumatic devastation caused by the last housing bubble, it’s understandable why a lot of Americans can be a little paranoid when it comes to market fluctuations. We tend to worry about heading into another housing crash whenever we see changes in the market. Good news is, we no longer have to go through all that unnecessary stress for here are three indicators to let us know how the market then and now are different from each other. Home Prices Mortgage Standards Foreclosure Rates HOME PRICES A decade ago, home prices depreciated dramatically, losing about 29% of their value…

March 1, 2019 rummy

There have been reports that a lot of sellers are holding off from listing their homes in the market due to a forecasted decrease of buyers this year. They speculate that potential buyers were scared off by the rising interest rates and home prices. This may be true in some areas, however, this same reason opens an opportunity to dedicated sellers to take advantage of the number of buyers who are still out there looking to buy their dream homes. NerdWallet’s 2018 Home Buyer Report revealed that: “Approximately one-third (32%) of Americans plan to purchase a home in the next…

March 1, 2019 rummy

On this eight episode of eXpand to the cloud Podcast, join hosts Rummy Dhanoa and David Upchurch as they welcome Gina Melendez, Jennifer Gomez, and Regina Rodriguez to eXp Realty. They will share their previous experiences as a real estate agent. Let’s hear their story and find out what made them switch and learn what they love about eXp Realty. Contact information. Gina Melendez 646-481-6213 gmelexp@gmail.com Jennifer Gomez 917-251-2812 JenniferG.exprealty@gmail.com Regina Rodriguez 914-334-3183 reginarodriguezexp@gmail.com Ready to learn more? Rummy Dhanoa 914.920.2289 rummy@nyreex.com David Upchurch 704-994-8656 www.DavidUpchurch.com

February 28, 2019 rummy

A self-made Millionaire David Bach gave a piece of simple yet compelling advice to Millennials; “Don’t Get Stuck Renting A Home… Buy One!” plain and straight, Bach pointed out a common mistake a majority of millennials tend to make with their life decisions. In a CNBC article, self-made millionaire David Bach explained that: “The biggest mistake millennials are making is not buying their first home.” He goes on to say that, “If you want to build real financial security, real wealth for your lifetime, then you need to buy a home.” Bach went on to explain: “Homeowners are worth 40…

February 27, 2019 rummy

With the home prices cooling down, a lot of Americans are worried that we may be heading off for another housing crash. With the current ratio of demand and supply, we have nothing to worry about. On the contrary, this is something we should thankful for as home price hikes are expected to move on a much normal pace. This ‘seller’s market’ has driven home prices to new heights. Home price appreciation averaged over 65 across the country. However, home price growth has recently started to cool down. The latest report from CoreLogic shows that home prices have only risen…

February 22, 2019 rummy

Statistics show that the majority of homebuyers last year were couples, this totally makes sense as the down payment is particularly easier to tackle when shared with a partner. According to the National Association of REALTORS most recent Profile of Home Buyers & Sellers, married couples once again dominated the first-time homebuyer statistics in 2018 at 54% of all buyers. If you’re single, don’t fret! Single women made up 18% of first-time buyers in 2018, while single men accounted for 10% of buyers. One recent article pointed to a sense of responsibility and commitment that drives many single women to…

February 21, 2019 rummy

Pricing your home right is one of the most challenging part of the sales process, too low may mean a loss on your end, on the other hand, you can be at risk of having a stale listing if you price it too high. If your plan for 2019 includes selling your home, you will want to pay attention to where experts believe home values are headed. According to the latest Home Price Index from CoreLogic, home prices increased by 4.7% over the course of 2018. The map below shows the results of the latest index by state. Real estate…