Author: barthorowitz

2020 Housing Market Exceeded Expectations, Says National Association of Realtors® Chief Economist

WASHINGTON – The housing industry has exceeded expectations for 2020 and the marketplace will continue to see home price and sales growth in the coming year, National Association of Realtors® Chief Economist Lawrence Yun said at the 2020 REALTORS® Conference & Expo Nov. 17. “The housing market has been exceptional in 2020, with demand soaring alongside low interest rates and a shift toward remote work for a good number of the labor force,” Yun told attendees of the Residential Economic Issues & Trends Forum. Home sales set a number of records this year despite – and in some cases, because...

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Will Mortgage Rates Still Be Low in 2021?

In 2020, buyers got a big boost in the housing market as mortgage rates dropped throughout the year. According to Freddie Mac, rates hit all-time lows 12 times this year, dipping below 3% for the first time ever while making buying a home more and more attractive as the year progressed (See graph below): When you continually hear how rates are hitting record lows, you may be wondering: Are they going to keep falling? Should I wait until they get even lower? The Challenge with Waiting The challenge with waiting is that you can easily miss this optimal window of time and then end up paying...

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Tips to Sell Your Staten Island House Safely Right Now

Some Highlights: Staten Island’s real estate professionals, Realtor members of the Staten Island Board of Realtors® (SIBOR), now has over six months of experience selling houses during the pandemic and can make the process easier and safer for you today.COVID-19 protocols and technology usage recommendations from the National Association of Realtors (NAR) are making it possible to sell houses right now, while agents continue to abide first and foremost by state and local regulations.Connect with a Staten Island real estate professional to discuss how to sell your house safely in today’s housing market. The information contained, and the opinions expressed...

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VA Home Loans: Helping Heroes Find a Home

Today, on Veterans Day, we honor those who have served our country and thank them for their continued dedication to our nation. In the United States, there are many valuable benefits available to Veterans, including VA home loans. For over 75 years, VA home loans have provided millions of Veterans and their families the opportunity to purchase their own homes. As we consider the full impact of VA home loans, it’s important to both understand these great options for Veterans and to share them with those we know who may be able to benefit most. For a variety of different reasons, many Veterans don’t...

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Foreclosure Crisis is Not in Sight for 2021

As the current forbearance mortgage relief options come to an end, many are wondering if we’ll face a foreclosure crisis next year. This is understandable, especially for those who remember the housing crisis that began in 2008. The reality is, plans have been put in place through forbearance to ensure history doesn’t repeat itself. This year, homeowners are able to request 180 days of mortgage relief through forbearance. Upon expiration of that timeframe, they’re also entitled to request 180 additional days, bringing the total to 360 days of deferred payment eligibility. As forbearance expires, homeowners should stay in touch with their...

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