October 15, 2019 rummy

There are plenty of factors influencing your mortgage pricing, one of them is property tax. Let’s find out exactly how property tax makes your monthly payment go up or down. When applying for a mortgage, you’ll see one of two acronyms in your paperwork – P&I or PITI – depending on how you’re including your taxes in your mortgage payment. P&I stands for Principal and Interest, and both are parts of your monthly mortgage payment that go toward paying off the loan you borrow. PITI stands for Principal, Interest, Taxes, and Insurance, and they’re all important factors to calculate when…

August 22, 2019 rummy

We’ve been reading a lot of comments and questions about housing affordability lately that we decided to address what most people find confusing about this particular topic. If you’re one of the many people in the gray zone as to whether or not to believe the thing you see and hear about housing affordability crisis, then you better read this. 1. National Association of Realtors’ (NAR) Housing Affordability Index: Here is a graph showing the index going all the way back to 1990. The higher the column, the more affordable homes are: We can see that homes are less affordable…

August 20, 2019 rummy

There’s a good side in everything, rising home prices included. Today we’re listing down not one, not two, but three benefits of growing equity in your home. Read more to find out. 1. Move-Up Opportunity With the rise in prices, homeowners naturally experience an increase in home equity. According to the Homeowner Equity Insights from CoreLogic, “In the first quarter of 2019, the average homeowner gained approximately $6,400 in equity during the past year.” This increase in profit means if homeowners decide to sell, they’ll be able to put their equity to work for them as they make plans to…

August 15, 2019 rummy

No matter what part of the world you’re from or what business or deal you’re into, a great return on investment is something truly hard to pass on. Here’s a couple of insights from industry experts about the real estate market’s current standing on supply and demand. Lawrence Yun, Chief Economist at National Association of Realtors “Imbalance persists for mid-to-lower priced homes with solid demand and insufficient supply, which is consequently pushing up home prices.” Mark Fleming, Chief Economist of First American “Market conditions are ripe for increasing home sales with one glaring exception. The supply of homes for sale…

August 8, 2019 rummy

If you’re one of the many homeowners who took advantage of buying a home or moving up to their dream home early this year, then the short answer is a simple “Yes”. But do not fret, if you haven’t made that big leap yet. With the figures, we’re about to show you, it’s not too late for you to do something about it. Many of the questions currently surrounding the real estate industry focus on home prices and where they are heading. The most recent Home Price Expectation Survey (HPES) helps target these projected answers. Here are the results from…

July 24, 2019 rummy

📣 OPEN HOUSE 🏡 In cased you missed last week’s Open House, don’t worry we have another Open House this coming July 26th at 1-4pm. Witness this stunning ranch home with outstanding circular driveway located at 📍43 Brendon Hill Road Scarsdale, NY 10583. 💥Features: 🔘3 baths 🔘Backyard 🔘Patio 🔘Built-in Stone BBQ pit 🔘Hardwood floors 👉🏻 Direct link: http://bit.ly/2Wpi8Zn For inquiries: 914.920.2299   www.NYREEX.com

July 10, 2019 rummy

Aside from the obvious reasons about priorities, knowing what you want versus what you need will also help your buying experience go a tad bit smoother and seamless. If you’ve been thinking about buying a home of your own for some time now, you’ve probably come up with a list of things that you’d LOVE to have in your new home. Many new homebuyers fantasize about the amenities that they see on television or Pinterest, and start looking at the countless homes listed for sale through rose-colored glasses. Do you really need that farmhouse sink in the kitchen to be…

July 5, 2019 rummy

They may have taken longer than previous generations to finally decide they are ready to buy their first homes, but we are now seeing more and more interest from these young generations online and in social media. According to a survey from Open Listings, 70% of single renters are more likely to spend their Sunday nights swiping through house listings than dating profiles. All that time window shopping has led 45% of millennials to expect the first home they buy to be their “dream home”! They are willing to wait longer, save more for a larger down payment, and are…

May 28, 2019 rummy

As we have shared countless times before, down payments need not be 20% all the time. Depending on your situation and geographical location, the percentage required could drop significantly. But a lot of buyers still believe that they need to save 20% as a down payment and here’s why. 1. Your interest rate will be lower. Putting down a 20% down payment vs. a 3-5% down payment shows your lender/bank that you are more financially stable, thus a good credit risk. The more confident your bank is in your credit score and your ability to pay your loan, the lower…

May 28, 2019 rummy

💢NEW LISTING ALERT💢 Commercial listing FOR SALE located at 4 New Paltz Plz, New Paltz, NY 12561. This 4000 sqft New York Pizza & Fine Dining is fully running and very profitable with bar license. New Paltz State University located 3 miles away and the famous Mohonk Mountain House Resort & Preserve are located 2 minutes up the road. Route 299 (Main Street) is one of the highest traveled roads in Ulster County. Don’t miss out on this great investment opportunity! 👉🏻 Direct link: http://bit.ly/2WoHS8p For inquiries: 914.920.2299   www.NYREEX.com