Author: barthorowitz

2019: A Terrific Year for Buyers AND Sellers

Many homeowners believe that rising interest rates and home prices have scared away buyers and therefore have not listed their houses for sale. However, the truth is that buyers who were unable to find a home last year are out in force, and there are even more coming! NerdWallet’s 2018 Home Buyer Report revealed that: “Approximately one-third (32%) of Americans plan to purchase a home in the next five years. Millennials are most likely to have such a purchase in their five-year plan (49%), versus 35% of Generation X and 17% of baby boomers.” As we can see, buyers are optimistic! According to the report,...

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AMERICANS PLAN FOR HOMEOWNERSHIP IN 2019

BY ANTHONY SANFILIPPO/ National Association of REALTORS® Ten Million Americans said last month that their top financial goal for 2019 is to buy a home. While that might sound like a large number – and it is, making up about four percent of all adult Americans, including seven percent of all millennials – a majority of Americans are either pragmatic or pessimistic about reaching their goals. That’s because 55 percent of Americans do not believe their financial situation in 2019 will be better than it was in 2018, – 12% who think it will be worse. This data, from a...

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Whose Staten Island Mortgage Do You Want to Pay? Yours or Your Landlord’s?

There are some Staten Islanders who haven’t purchased homes because they are uncomfortable taking on the obligation of a mortgage. However, everyone should realize that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s. As Entrepreneur Magazine, a premier source for small business, explained in their article, “12 Practical Steps to Getting Rich”: “While renting on a temporary basis isn’t terrible, you should most certainly own the roof over your head if you’re serious about your finances. It won’t make you rich overnight, but by renting, you’re paying someone else’s mortgage. In...

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Speak with a Real Estate Professional to Learn How Much Your Staten Island Home Has Grown in Value

Last year we saw headlines about a possible housing market bubble, and many wondered if Americans still felt confident about the value of their homes. Recently, the 2018 Houzz & Home Study revealed: “Homeowners with mortgages have seen their home equity more than double since 2011, increasing to a record-setting $8.3 trillion in 2017.” The average homeowner gained $16,200 in home equity between Q2 2017 and Q2 2018 according to the latest release of CoreLogic’s Home Equity Report. In December 2018, the median sales price of a Staten Island home increased 4.9 percent to $555,000, according to the Staten Island...

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4 Proven Ways Real Estate Can Build Sizable Family Wealth

Recently, David Greene, co-host of the BiggerPockets podcast and a nationally renowned author and speaker, wrote an article in Forbes explaining how investing in real estate could help build wealth. Many of the points he made also apply to a family owning their own home. Here are a few: 1. Appreciation “The rising of home prices over time, is how the majority of wealth is built in real estate. This is the ‘home run’ you hear of when people make a large windfall of money. While prices fluctuate, over the long run real estate values have always gone up, always, and there is no...

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