westchester homes for sale: Homeowners Equity Position Update! - 06/24/16 04:36 AM


Yesterday, we reported that according to CoreLogic's latest Equity Report, nearly 268,000 homeowners regained equity and are no longer underwater on their mortgage in the first quarter. Homes with negative equity have decreased by 21.5% year-over-year. A study by Fannie Mae suggests that many homeowners are not aware of how their equity position has changed as their home has increased in value. For example, their study showed that 23% of Americans still believe their home is in a negative equity position when, in actuality, CoreLogic's report shows that only 8% of homes are in that position. The study also revealed that … (1 comments)

westchester homes for sale: Current Housing Market Favors Homeownership - 06/14/16 01:45 AM

According to the latest Beracha, Hardin & Johnson Buy vs. Rent (BH&J) Index, homeownership is a better way to produce greater wealth, on average, than renting. The results from the first quarter index showed that "16 of the 23 metropolitan markets investigated moved in the direction of buy territory." The BH&J Index is a quarterly report that attempts to answer the question:
Is it better to rent or buy a home in today's housing market?"The U.S. housing market, when considered as a whole, has swung marginally more in favor of home ownership over renting a comparable property and investing monthly rent savings … (0 comments)

westchester homes for sale: Is it a good time to Rent? - 01/13/16 12:38 AM

People often ask whether or not now is a good time to buy a home. No one ever asks when a good time to rent is. However, we want to make certain that everyone understands that today is NOT a good time to rent. The Census Bureau recently released their third quarter median rent numbers. Here is a graph showing rent increases from 1988 until today: A recent Wall Street Journal article reports that rents rose “faster last year than at any time since 2007, a boon for landlords but one that has stoked concerns about housing affordability for renters.”  The article also cited results from a recent Reis … (1 comments)

westchester homes for sale: What you need to know on Interest Rates & Housing Market - 12/01/15 03:28 AM


Last week, an article in the Washington Post discussed a new ‘threat’ homebuyers will soon be facing: higher mortgage rates. The article revealed:
“The Mortgage Bankers Association expects that rates on 30-year loans could reach 4.8 percent by the end of next year, topping 5 percent in 2017. Rates haven’t been that high since the recession.”
How can this impact the housing market?The article reported that recent analysis from Realtor.com found that -
“…as many as 7% of people who applied for a mortgage during the first half of the year would have had trouble qualifying if rates rose by half a percentage point.”
This doesn’t necessarily mean that those buyers … (0 comments)

westchester homes for sale: Housing & Hispanics: The Next Decade Demand - 10/28/15 05:39 AM

The Mortgage Bankers’ Association (MBA) recently released a report: ‘Housing Demand: Demographics And The Numbers Behind The Coming Multi-Million Increase In Households’. In this study, the MBA “utilized a comprehensive analysis of data from 1976 to 2014, a period encompassing several market and housing cycles, to provide a projection of much stronger housing demand over the next decade.” According to the report:
“by 2024, demographic and economic changes will bring what could be one of the largest expansions in the history of the U.S housing market with 13.9 million additional households.”
But, what did they say about the Impact of the Hispanic community?
The … (0 comments)

westchester homes for sale: Does the Holidays Pressure & Stress You Out? - 10/19/15 05:16 AM

As fall begins, a lot of us are starting to think about the holidays. Thanksgiving will be here soon, as will Christmas, and then New Years. 
 
For a lot of people, these holidays equal one thing—stress. According to a recent survey, Christmas is actually rated 6th on the list of ‘most stressful life events’, being right up there beneath moving, divorce, changing jobs, and other equally stressful situations. 86% of people also said that they found buying presents difficult, and 65% said that shopping for Christmas presents was, in itself, a stress-filled experience.
 
But why are the holidays associated with so much negativity?
 
A big … (2 comments)

westchester homes for sale: Is It Now Easier to Qualify for a Mortgage? - 09/24/15 09:01 AM

There has been a lot of talk about how difficult it is to get a home mortgage in today’s lending environment. However, three recent reports have revealed that lending standards are beginning to ease. This is great news for both first time buyers and current homeowners looking to move or buy a second vacation/retirement home. Let’s look at the three reports:
The MBA’s Mortgage Credit Availability Index This index, issued by the Mortgage Bankers’ Association, measures the availability of credit available in the home mortgage market. A decline in the MCAI indicates that lending standards are tightening, while increases in … (0 comments)

westchester homes for sale: Successful People's 5 Motivational Secrets - 09/21/15 04:00 AM

Some make success look easy but the truth is that when a person who has reached the brass ring is noticed it’s only after the most difficult steps have been traversed, and not when they are struggling, which all people who have worked hard have done.
 
Luckily for those who want to follow in their footsteps, the secrets to success are not secrets at all. In fact, there are five things that all successful people do in order to achieve their dreams.
 
1. Successful people take responsibility for their actions and inaction
 
Have you ever wished for success but never put forth the hard … (1 comments)

westchester homes for sale: 5 Good Reasons Why You Should Sell Now! - 07/27/15 05:52 AM

As the temperature continues to rise, buyers are coming out ready to purchase their dream home. Here are five reasons that you should list your house for sale now.
1. Strong Buyer DemandFoot traffic refers to the number of people out actually physically looking at homes right now. The latest foot traffic numbers show that there are significantly more prospective purchasers currently looking at homes than at any point in the last two years! These buyers are ready, willing and able to purchase… and are in the market right now! Take advantage of the buyer activity currently in the market.
2. There Is Less Competition … (0 comments)

westchester homes for sale: Moving Soon? Here is an infographic that might help you. - 07/09/15 05:50 AM

 
www.NYREEX.com
 

 
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westchester homes for sale: Going FSBO? Think Again! - 06/12/15 06:48 AM

Some Highlights:According to NAR's Profile of Home Buyers & Sellers:
§ 88% of buyers look for their new home online
§ Using a real estate agent can net you 13% more than FSBO'ing
§ There is a long list of people that you will have to negotiate with when you decide to sell your home, using an experienced professional can help ease the process.
www.NYREEX.com
 


 

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westchester homes for sale: Everyone has their own challenges in life, don't just give up on it. - 05/18/15 06:19 AM
We all have the best of intentions in planning things to make a better life for ourselves, but for some reason, we fall short. Right? We come up with reasons – excuses – as to why we can’t do something. Unfortunately, we let these reasons and excuses rule us and rob us from living an incredible life.   Imagine what your life would be like if you were born with no arms or legs and people teased you incessantly as a child. Would you just roll over and give up? Or, would you fight and make an amazing life for yourself?   Not sure? No … (1 comments)

westchester homes for sale: We Need to Sell Your House Twice - 05/05/15 05:21 AM

Every house on the market has to be sold twice; once to a prospective buyer and then to the bank (through the bank’s appraisal). In a housing market where supply is very low and demand is very high, home values increase rapidly. One major challenge in such a market is that bank appraisal. If prices are jumping, it is difficult for appraisers to find adequate comparable sales (similar houses in the neighborhood that closed recently) to defend the price when doing the appraisal for the bank. With escalating prices, the second sale might be even more difficult than the first. And … (1 comments)

westchester homes for sale: Perfect Time to Buy a Home? - 04/29/15 06:28 AM
Recently, Freddie Mac published a blog post titled Mortgage Rates: Still the Deal of the Century. They explained that, if you are planning to purchase a home, now may be the time:
“If you are in the market to buy a home, today's average mortgage rates are something to celebrate compared to almost any year since 1971.”
And they let their readers know that there is no guarantee that rates will remain this low:
“Over the past few years, we've enjoyed a long run of historically low mortgage rates. While no one expects them to change dramatically overnight, they are expected to head up. Most … (0 comments)

westchester homes for sale: Spring Cleaning? These Tips will Definitely Speed Things Up! - 04/20/15 06:49 AM

The good news is that there are some things you can do to not only make the job easier, but also to speed up the process so you can make it go faster.
1. Add a lazy Susan to your fridge
If you’re already taking everything out to give the fridge a good scrub, add a lazy Susan to each shelf before you restock. Being able to spin it to access things in the back will cut down on spills and make your next spring cleaning that much easier.
 
2. Disinfect your sponge
If you’ve got a big job to do and only one sponge … (0 comments)

westchester homes for sale: You can accomplish anything - 03/30/15 06:41 AM

Some people stop moving forward because they don’t believe that they have what it takes to accomplish the next objective. This could happen in many different ways. Some people don’t apply for promotions, for example, because they simply don’t believe that they could possibly get them. Some people don’t even think about starting a business because they don’t think that they are ‘smart enough’ to do so. Some people shy away from volunteering for special projects because they doubt whether or not they have the skills necessary to be useful.
 
These are all relatively common types of thoughts for … (1 comments)

westchester homes for sale: Make Every Day Count - 03/25/15 07:40 AM

Make every day count. Steve Jobs, the founder of Apple Computers, really did a good job of summarizing this idea when he spoke this quote into existence…
 “For the past 33 years, I have looked in the mirror every morning and asked myself: 'If today were the last day of my life, would I want to do what I am about to do today?' And whenever the answer has been 'No' for too many days in a row, I know I need to change something.” -Steve Jobs 
 
What are you going to do today? You, just like every other … (0 comments)

westchester homes for sale: Location is KEY - 03/17/15 07:05 AM

A recent Demand Institute report revealed “nearly half of all American households plan to move at some point in the future.” Seventy-five percent of those surveyed in the report cited one or more ‘location-related reasons’ for their eagerness to move. Here are the top 5 reasons:
1.    Safer Neighborhood – 30%
2.    Closer to Family – 27%
3.    Change of Climate – 26%
4.    Closer to Work – 25%
5.    For a New Job – 23%
While the majority of Americans (74%) will move within their home state, for the 26% planning to call a new state home, it is important to know that prices in each state are … (0 comments)

westchester homes for sale: Thinking of Buying? What are you waiting for? Read me :) - 02/23/15 04:29 AM

If you are planning on becoming a homeowner, or moving up to the home of your dreams in 2015, here are four great reasons to consider buying a home now, instead of waiting until spring.
1. Prices Will Continue to Rise The Home Price Expectation Survey polls a distinguished panel of over 100 economists, investment strategists, and housing market analysts. Their most recent report projects appreciation in home values over the next five years to be between 11.7% (most pessimistic) and 27.5% (most optimistic). The bottom in home prices has come and gone. Home values will continue to appreciate for … (0 comments)

westchester homes for sale: Net Worth: A Homeowner’s is 36x Greater Than A Renter! - 02/12/15 08:23 AM

Over the last six years, homeownership has lost some of its allure as a financial investment. As homeowners suffered through the housing bust, more and more began to question whether owning a home was truly a good way to build wealth. Every three years the Federal Reserve conducts a Survey of Consumer Finances in which they collect data across all economic and social groups.
Some of the findings revealed in their report: § The average American family has a net worth of $81,200
§ Of that net worth, 61.4% ($49,856) of it is in home equity
§ A homeowner’s net worth is over 36 times greater than … (0 comments)

 
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Rummy Dhanoa

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