Author: barthorowitz

Report: Staten Island Home Prices Were Fairly Stable in July

STATEN ISLAND, N.Y. (August 2019) – In July, the U.S. economic expansion that began in June 2009 became the longest in the nation’s history, marking 121 straight months of gross domestic product growth and surpassing the 120-month expansion from 1991 to 2001. The average rate of growth during this expansion has been a milder 2.3 percent per year compared to 3.6 percent during the 1990s. Although the economy should continue to perform well for the rest of 2019, most economists see a mild recession on the horizon. The Staten Island Board of Realtors® has released its latest market stats....

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Young Adults Make Costly Error If Not Buying a Home, Says Millionaire

On his personal website, self-made millionaire David Bach makes a striking statement:  “Not prioritizing homeownership is the single biggest mistake millennials are making.” He further stated, “Buying a home is an escalator to wealth.” Bach explains: “Young adults in particular aren’t hopping on this escalator, and it’s a costly mistake…If millennials don’t buy a home, their chances of actually having any wealth in this country are little to none.” He then elaborates on the game of homeownership: “Start by crunching the numbers…actually do the math…This way, you’re really clear on your goals and you won’t just say to yourself, ‘I’ll never afford this!’A...

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How might the next recession impact real estate?

We’ve experienced economic growth for almost a decade, which is the longest recovery in the nation’s history. Experts know a recession can’t be too far off, but when will this economic slowdown actually occur? Pulsenomics just released a special report revealing that nearly 6 out of 10 of the 90 economists, investment strategists, and market analysts surveyed believe the next recession will occur by the end of next year. Here’s the breakdown: 9% believe a recession will occur this year50% believe it will occur in 202035% believe it will occur in 20216% believe it will occur after 2021 When asked what would...

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Sell Your House, Move Up to Your Dream Home — Now

As a homeowner, it’s always tempting to dream about the next big project you’re going to tackle. The possibilities are endless. Should I renovate? Should I refinance? Should I stay? Should I move? The list goes on and on. In today’s housing market, it’s actually a great time to shift your thoughts toward selling your house and moving up into the home of your dreams. Here’s why: Inventory is on the rise, but there’s still an overall shortage of houses for sale (less than a 6-month supply found in a more normal market), so homes are going under contract quickly. In fact,...

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Staten Island Realtors Donate $15K for Children with Cancer

FOR IMMEDIATE RELEASE: WEDNESDAY, JULY 31, 2019 Gathering for the presentation of the Staten Island Board of Realtors’ (SIBOR) contribution to Sunrise Day Camp – Staten Island are, from left: Realtor Jon Salmon, a past president of the Jewish Community Center of Staten Island (JCC); Annmarie Izzo, SIBOR event coordinator; Realtor Scott Setaro, 2019 president of SIBOR, and David Sorkin, CEO and executive director of the Staten Island JCC. (Photos: Courtesy of the Staten Island Board of Realtors®) Funds from annual golf event to benefit Sunrise Day Camp and Kids Against Cancer unit at Staten Island University Hospital Northwell...

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