Everywhere you look, people are talking about a potential recession. And if you’re planning to buy or sell a house, this may leave you wondering if your plans are still a wise move. To help ease your mind, experts say that if we officially enter a recession, it’ll be mild and short. As the Federal Reserve explained in their March meeting: “. . . the staff’s projection at the time of Continue Reading
Manhattan Market Report for the week ending April 28, 2023, Supply closed out at 7,273, up 2%. Pending Sales at 2,911 and off-market listings (delisting) maintain the market pulse at a .40% level. Buyers are in the market and interested in homes in good condition that are priced by the market. Those properties go into contract within 30 days. Those properties lingering for Continue Reading
Are you wondering if you should continue renting or buying a home this year? If so, consider this. Rental affordability is still a challenge and has been for years. That’s because, historically, rents trend up over time. Data from the Census shows rents have been climbing pretty steadily since 1988. And data from the latest rental report from Realtor.com shows rents continue to grow Continue Reading
Key Takeaways With so few homes on the market right now, widening the scope of your search to include nearby areas could help you find more options in your budget. You can also work with a trusted lender to consider alternative financing options and search for down payment assistance. If you’ve been searching for a home but are concerned about rising costs, make sure you have a Continue Reading
You’ve likely seen headlines about foreclosures climbing in today’s housing market. That may leave you with questions, especially considering buying a house. Understanding what they mean is mission-critical if you want to know the truth about what’s happening today. According to a recent report from ATTOM, a property data provider, foreclosure filings are up 6% compared to the previous quarter Continue Reading
There’s been a lot of focus on higher mortgage rates and how they create affordability challenges for today’s homebuyers. Rates have indeed climbed dramatically since the record-low we saw during the pandemic. But home affordability is based on more than just mortgage rates – a combination of mortgage rates, home prices, and wages determines it. Considering how each of these factors Continue Reading
Manhattan Market Report for the week ending April 21, 2023, Supply closed out at 7,092. Pending Sales at 2,898 and off-market listings (delisting) maintain the market pulse at a .41% level. Mortgage Rates Mortgage rates increased for the first time in over a month due to shifting market expectations. Home prices have stabilized somewhat, but with supply tight and rates Continue Reading
The housing market’s been going through a lot of change lately, and there’s been uncertainty surrounding what will happen this spring. You may wonder if more homes will go on the market, what’s next with home prices and mortgage rates, or what the best advice is for someone in your current position. Industry Experts Views Here’s what industry experts are saying right now about the spring housing Continue Reading
Key Takeaways Since inflation is increasing the cost of goods and services, looking for an energy-efficient home may make sense. Energy prices have increased over the last year, so look for energy-efficient features in your home search. The Facade Inspection & Safety Program (FISP, also known as Local Law 11) is a set of regulations addressing the conditions of NYC's Continue Reading
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