Young buyers (Millennials & Gen Z) have waited longer than previous generations to enter the housing market for their first home. However, this hasn’t stopped them from dreaming about the home they will eventually buy. Many spend hours searching listings and building Pinterest boards of their favorite home features. According to a survey from Open Listings, 70% of single renters are more likely to spend their Sunday nights swiping through house listings than dating profiles. All that time window shopping has led 45% of millennials to expect the first home they buy to be their “dream home”! They are willing to wait longer, save...Read More
Jun 19, 2019 | Home Buyers |
Whether it is your first time or your fifth, it is always important to know all the facts when it comes to buying a home. With the large number of mortgage programs available that allow buyers to purchase homes with down payments below 20%, you can never have too much information about Private Mortgage Insurance (PMI). What is PMI? Freddie Mac defines PMI as: “An insurance policy that protects the lender if you are unable to pay your mortgage. It’s a monthly fee, rolled into your mortgage payment, that is required for all conforming, conventional loans that have down payments less than 20%.Once...Read More
Jun 17, 2019 | Home Sellers |
Here are 5 compelling reasons listing your home for sale this summer makes sense. 1. Demand Is Strong The latest Buyer Traffic Index from the National Association of Realtors (NAR) shows that buyer demand remains strong throughout the vast majority of the country. These buyers are ready, willing, and able to purchase… and are in the market right now! More often than not, multiple buyers are competing with each other for the same home. Take advantage of the buyer activity currently in the market. 2. There Is Less Competition Now Housing inventory is still under the 6-month supply needed for a normal housing market. This...Read More
During the housing market crash, Gen X homeowners — Americans born between the mid-1960s and the early-1980s — lost more wealth than other generations. However, things are changing now! A strong economy, increasing home prices, and the recovery of the housing market are helping this generation to regain their lost wealth. According to Pew Research Center, “Their fortunes have rebounded more than those of other generations during the post-recession economic expansion and as home and stock prices have risen. Since 2010, the median net worth of Gen X households has risen 115%. In fact, in 2016, the most recent year with available...Read More
Jun 13, 2019 | Home Sellers |
Selling your home involves a lot of work and can quickly become a complicated process. Real estate agents are the experts that can help guide you through! Before you decide to FSBO, get together with a Staten Island real estate professional, a Realtor member of the Staten Island Board of Realtors® (SIBOR). Watch Video: 3 Reasons You Shouldn't FSBOSelling your home involves a lot of work and can quickly become a complicated process. Real estate agents are the experts that can help guide you through! Before you decide to FSBO, get together with a #StatenIsland #RealEstate professional, a Realtor member of...Read More
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