Author: barthorowitz

Current Home-Buying and Home-Selling Incentives Sweeten the Pot

Today’s housing market is making a truly impressive turnaround, and it’s also setting up some outstanding opportunities for buyers and sellers. Whether you’re thinking of buying or selling a home this year, there are perks today that are rarely available, and definitely worth looking into. Here are the top two: The Biggest Perk for Buyers: Low Mortgage Rates The most impressive buyer incentive today is the average mortgage interest rate. Just last week, mortgage rates hit an all-time low for the eighth time this year. The 30-year fixed-rate is now averaging 2.88%, the lowest rate in the survey’s history, which dates back to 1971....

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Healthy Buyer Demand, Constrained Supply Defines Staten Island Housing Market

Note: The latest Staten Island Real Estate Report is available at: http://marketstatsreports.showingtime.com/NYSAR_0g228/NYSAR_SIBOR_2020-07.zip    FOR IMMEDIATE RELEASE: FRIDAY, AUG. 7, 2020 STATEN ISLAND, N.Y. – In reviewing Staten Island’s residential housing statistics for June last month, Sandy Krueger, CEO of the Staten Island Board of Realtors® (SIBOR), predicted the borough’s July results would “better reflect the pent-up demand that we see from both sellers and buyers.” Now that SIBOR’s July numbers are in, Krueger’s forecast has been proven accurate. In July, New Listings for homes on Staten Island increased 43.7 percent to 917 as compared to the same month a year...

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Working Remotely is Influencing the Needs of Homeowners

With more companies figuring out how to efficiently and effectively enable their employees to work remotely (and for longer than most of us initially expected), homeowners throughout the country are re-evaluating their needs.  Do I still need to live close to my company’s office building? Do I need a larger home with more office space? Would making a move to the suburbs make more sense for my family?  All of these questions are on the table for many Americans as we ride the wave of the current health crisis and consider evolving homeownership needs. According to George Ratiu, Senior Economist for realtor.com: “The...

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Homeowners: Now is a Great Time to Leverage Your Equity and Make a Move

We’re sitting in an optimal moment in time for homeowners who are ready to sell their houses and make a move this year. Today’s homeowners are, on average, staying in their homes longer than they used to, and this is one factor driving increased homeowner equity. When equity grows, selling a house becomes increasingly desirable. Here’s a breakdown of why it’s a great time to capitalize on equity gain in today’s market: As average homeowner tenure lengthens and home prices rise, equity, a form of forced savings, can be applied forward to the purchase of a new home. CoreLogic explains: “Over the past 10 years, the...

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Residential Real Estate Market Continues to Show Great Resilience

America has faced its share of challenges in 2020. A once-in-a-lifetime pandemic, a financial crisis leaving millions still unemployed, and an upcoming presidential election that may prove to be one of the most contentious in our nation’s history all continue to test this country in unimaginable ways. Even with all of that uncertainty, the residential real estate market continues to show great resilience. Here’s a look at what the experts have said about the housing market over the past few weeks: Ivy Zelman, CEO of Zelman & Associates: “Whether in terms of pending contract activity or our proprietary buyer...

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