When you read about the housing market and mortgage rates you’ll probably come across some information about inflation or recent decisions made by the Federal Reserve (the Fed). But how do those two things impact you and your homebuying plans? Here's what you need to know. The Federal Funds Rate Hikes Have Stalled One of the Fed’s primary goals is to lower Continue Reading
If you’re thinking about buying or selling a home soon, you probably want to know what you can expect from the housing market in 2024. In 2023, higher mortgage rates, confusion over home price headlines, and a lack of homes for sale created some challenges for buyers and sellers looking to move. But what’s on the horizon for the new year? The good news is Continue Reading
If you were worried buyer demand disappeared when mortgage rates went up, the data shows there are plenty of interested buyers still out there. The housing market isn't as frenzied as it was during the ‘unicorn’ years when buyer demand was through the roof, mortgage rates were historically low, and home values rose like we’ve never seen before. But that Continue Reading
Some Highlights If you want to buy a home, you may not need as much for your down payment as you think. There are various loan options for qualified buyers with down payments as low as 3.5% or even no down payment requirement. Thousands of programs are also available to help homebuyers with their down payments. With the right resources, your down payment may be more Continue Reading
Has your home been sitting on the market for a while without selling? If so, you should know that’s unusual, especially now. That’s because the supply of homes for sale is still far lower than we’d see in a typical year. That means buyers have fewer options than usual, so your house should be an oasis in an inventory desert. So, if homebuyers have limited choices and your house still Continue Reading
If you're considering moving, knowing what's happening in the housing market is essential. Here's an update on the supply of homes currently for sale. Whether you're buying or selling, you should pay attention to the number of homes in your area. In the housing market, regular patterns happen every year, called seasonality. Spring is the peak homebuying season, and most homes are Continue Reading
In New York City, the typical down payment a home buyer needs to come up with is 20%. There is no law that a buyer has to put down 20%, but this is the benchmark for conventional financing. Additionally, cooperatives in New York City have their specific down payment, debt-to-income, and cash liquidity after closing requirements. There are situations where you purchase a home, even in a Continue Reading
In search of the perfect home, unbridled enthusiasm is tempered by several economic factors. There’s no denying that mortgage rates and home prices are higher now than last year, impacting what you can afford. At the same time, fewer homes are still available for sale than the norm. These are two of the biggest hurdles buyers are facing today. But there are ways to overcome Continue Reading
Some Highlights During your home-buying adventure, there are key milestones you’ll encounter on your path to homeownership. It's an exciting adventure, from building your team to house hunting to moving into your new home. Your journey starts here. Let’s connect so you have expert guidance each step of the way. Other educational articles about the market and Continue Reading
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