Category: For Buyers

    • Drop in Inventory Fuels Sales Slowdown [INFOGRAPHIC]

      Some Highlights: Existing Home Sales are now at an annual pace of 5.46 million. Inventory of existing homes for sale dropped to a 4-month supply, marking the 35th month in a row of declines. The median price of homes sold in April was $257,900. This...
      Written by Denise Zervos
    • Why Have Interest Rates Jumped to a 7-Year High?

      Interest rates for a 30-year fixed rate mortgage have climbed from 3.95% in the first week of January up to 4.61% last week, which marks a 7-year high according to Freddie Mac. The current pace of acceleration has been fueled by many factors. Sam Khater, Freddie Mac’s Chief Economist, had this to say: “Healthy consumer […]
      Written by Denise Zervos
    • How Current Interest Rates Can Have a High Impact on Your Purchasing Power

      According to Freddie Mac’s latest Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at 4.61%, which is still near record lows in comparison to recent history! The interest rate you secure when buying a home not only greatly impacts your monthly housing costs, but also impacts your purchasing power. Purchasing power, simply put, is […]
      Written by Denise Zervos
    • Is Your First Home Within Your Grasp Now? [INFOGRAPHIC]

      Some Highlights: According to the US Census Bureau, ‘millennials’ are defined as 18-36-year-olds. According to NAR’s latest Profile of Home Buyers & Sellers, the median age of all first-time home buyers is 32. More and more ‘old millennials’ (25...
      Written by Denise Zervos
    • Moving Up to Your Dream Home? Don’t Wait!

      Mortgage interest rates have risen by more than half of a point since the beginning of the year, and many assume that if mortgage rates rise, home values will fall. History, however, has shown this not to be true. Where are home values today compared to the beginning of the year? While rates have been […]
      Written by Denise Zervos
    • Renters Under 50 Want to Buy a Home!

      Every year, the New York Federal Reserve publishes the results of their Survey of Consumer Expectations (SCE). Each survey covers a wide range of topics including inflation, labor market, household finance, credit access and housing. One of the many questions asked in the housing section of the survey was: Assuming you had the financial resources […]
      Written by Denise Zervos
    • Homeownership: “A Man Is Not a Complete Man, Unless He Owns a House”

      The famous quote by Walt Whitman, “A man is not a whole and complete man, unless he owns a house and the ground it stands on,” can be used to describe homeownership in America today. The Census revealed that the percentage of homeowners in America has been steadily climbing back up since hitting a 50-year low in 2016. […]
      Written by Denise Zervos
    • 5 Ways Tax Reform Has Impacted the 2018 Housing Market

      Starting late last year, some predicted that the 2018 tax changes would cripple the housing market. Headlines warned of the potential for double-digit price depreciation and suggested that buyer demand could drop like a rock. There was even sentiment that homeownership could lose its coveted status as a major component of the American Dream.  Now […]
      Written by Denise Zervos
    • Real Estate Tops Best Investment Poll for 5th Year Running

      Every year, Gallup surveys Americans to determine their choice for the best long-term investment. Respondents are given a choice between real estate, stocks/mutual funds, gold, savings accounts/CDs, or bonds. For the fifth year in a row, real estate has come out on top as the best long-term investment! This year’s results showed that 34% of […]
      Written by Denise Zervos