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cost of not owning
The True Cost of NOT Owning Your Home
Owning a home has great financial benefits, yet many continue to rent! Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for the entirety of America’s existence. Realtor.com reported that: “Buying remains the more attractive option in the long...
Buying cheaper than renting
Buying a Home is Cheaper than Renting in 38 States! [INFOGRAPHIC]
Some Highlights: According to a study by GOBankingRates, it is cheaper to buy a home than rent in 38 states across the country. In six states the difference between buying & renting would account for less than a $50 monthly difference, leaving the choice up to the individual family. Nationwide,...
Entering Buyers' Market
Are We Entering a Buyers’ Market?
Home sales are below last year’s levels, home values are appreciating at a slower pace, and there are reports showing purchasing demand softening. This has some thinking we may be entering a buyers' market after sellers have had the upper hand for the past several years. Is this really happening?...
2 Factors to Watch in Today’s Real Estate Market Whether Buying or Selling
2 Factors to Watch in Today’s Real Estate Market Whether Buying or Selling
When it comes to buying or selling a home there are many factors you should consider. Where you want to live, why you want to buy or sell, and who will help you along your journey are just some of those factors. When it comes to today’s real estate market,...
Mortgage Interest Rates are Rising!
Mortgage Interest Rates are Rising!
Mortgage interest rates, as reported by Freddie Mac, have increased by close to a quarter of a percent over the last several weeks. Freddie Mac, Fannie Mae, the Mortgage Bankers Association, and the National Association of Realtors are all calling for mortgage rates to rise another quarter of a percent by next year. In addition to the predictions from...
How Does Home Supply Impact Buyer Demand?
How Does Home Supply Impact Buyer Demand?
The price of any item is determined by the supply of that item, as well as the market’s demand for it. The National Association of REALTORS (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for their monthly REALTORS Confidence Index. Their latest edition sheds some light on the...
Should I Buy Now? Or Wait Until Next Year? [INFOGRAPHIC]
Should I Buy Now? Or Wait Until Next Year? [INFOGRAPHIC]
I Would Buy Now! Some Highlights: The cost of waiting to buy is defined as the additional funds it would take to buy a home if prices & interest rates were to increase over a period of time. Freddie Mac predicts interest rates to rise to 5.2% by the third...
Are Home Prices Softening or Are They Falling?
Are Home Prices Softening or Are They Falling?
We are beginning to see reports that more housing inventory is coming to the market and that buyer demand may not be increasing at the same pace it did earlier this year. The result will be many headlines written to address the impact that these two situations will have on...
PMI or Not
To PMI or Not to PMI – That is the question!
Should you incur PMI? Saving for a down payment is often the biggest hurdle for a first-time homebuyer as median incomes, rents, and home prices all vary depending on where you live. There is a common misconception among homebuyers that a 20% down payment is required, and it is this...
Mortgage Interest Rates
Mortgage Interest Rates In 2019
Mortgage Interest Rates What you pay on your home mortgage interest rate has a direct impact on your monthly payment; the higher the rate, the greater the payment will be. That is why it is important to know where rates are headed when deciding to start your home search. Below...
Has Your Home Value Increased
How Much Has Your Home Value Increased?
Has Your Home Value Increased? Home values have risen dramatically over the last twelve months. In CoreLogic’s most recent Home Price Index Report, they revealed that national home prices have increased by 6.2% year-over-year. CoreLogic broke down appreciation even further into four price ranges, giving us a more detailed view than if we had simply looked...
4 Reasons to Sell This Fall [INFOGRAPHIC]
4 Reasons to Sell This Fall [INFOGRAPHIC]
Some Highlights: Housing inventory is still under the 6-month supply that is needed for a normal housing market, except in the following Nassau and Suffolk County towns as of August 2018:   Town Months Supply Hauppauge 6.1 Center Moriches 6.2 Melville 6.3 Islandia 6.7 Setauket 7.0 Dix Hills 7.8 Northport...
Normal Real Estate Market
Is the Real Estate Market Finally Getting Back to Normal?
The housing market has been anything but normal for the last eleven years. In a normal real estate market, home prices appreciate 3.7% annually. Below, however, are the price swings since 2007 according to the latest Home Price Expectation Survey: After the bubble burst in June 2007, values depreciated 6.1%...
Rising Home Prices
25% of Homes with a Mortgage are Now Equity Rich!
Rising home prices have been in the news a lot lately and much of the focus has been on whether home prices are accelerating too quickly, as well as how sustainable the growth in prices really is. One of the often-overlooked benefits of rising home prices, however, is the impact...
five year change in home prices
Home Prices: The Difference 5 Years Makes
CoreLogic recently released their Home Price Index Report. One of the key indicators used in the report to determine the health of the housing market was home price appreciation. CoreLogic focused on appreciation from July 2013 to July 2018 to show the five year change in home prices. The graph below was created...