buy: A Forecast on Interest Rates for 2019 - 12/12/18 03:49 PM
If you are planning to buy a house, knowing the interest rate at the time of your purchase will give you an idea on how much your monthly payment will look like. Keep in mind that even the slightest of change in the interest rate could significantly increase or decrease your mortgage depending on your loan amount.
Below is a chart created using Freddie Mac's U.S. Economic & Housing Marketing Outlook.
As you can see, interest rates are projected to increase steadily throughout 2019.

How Will This Impact Your Mortgage Payment?
Depending on the amount of the loan that you secure, … (0 comments)

buy: Learning from Past Mistakes - 12/11/18 03:34 PM
One of the best things about Americans is that we learn quickly. The last real estate market crash in 2008 was a huge event that left the nation traumatized. A lot have been speculating about the future of real estate since then, paying close attention to all trends and changes, making them seem a bit paranoid. Good news is, everyone has is now more aware because of that, people are now more responsible and all signs point to a better more stable 2019 for the real estate industry.

What happened then...
When real estate values began to surge last decade, people … (2 comments)

buy: 2018 No More - 12/07/18 04:10 PM
Let's talk about what 2019 has in store for us and eliminate the fears and worries that it would be a repeat of 2018 once and for all. Forecasts and trend reports reveal light at the end of the tunnel; we are truly headed for a more normal average next year.
However, some are seeing these adjustments as red flags and are suggesting that we are headed back to the same challenges we experienced in 2008. Today, let's look at one set of statistics that prove the current market is nothing like the one that preceded the housing crash last decade. … (1 comments)

buy: Unwelcome Surprise by Closing Costs - 12/06/18 03:39 PM
Everyone hates hidden charges, although closing cost is a requirement that majority of buyers are aware of, the actual amount is not fixed and often than not can come as a negative surprise to buyers who are on a budget.
By law, a homebuyer will receive a loan estimate from their lender 3 days after submitting their loan application and they should receive a closing disclosure 3 days before the scheduled closing on their home. The closing disclosure includes final details about the loan and the closing costs.
But what are closing costs anyway?
According to Trulia:
"Closing costs are lender … (1 comments)

buy: One Good Reason to Sell Your House Before Spring - 12/05/18 04:00 PM
Being the first always have more benefits than consequences. If season after season, people put up their house on sale during spring because the demand increases during that time, wouldn't it be great if you can get ahead of the pack by putting your house on the list as early as today so buyers can see yours before they have visibility on your competition?
The #1 Reason to List Your Home in the Winter Months is Less Competition!
Housing supply traditionally shrinks at this time of year, so the choices buyers have will be limited. The chart below was created using … (1 comments)

buy: Is Winter The Best Time To Buy A Home? - 12/04/18 03:23 PM
Historically, people prefer to buy their dream houses in spring. Nevertheless, based on reports from our reliable sources, there is a new trend in our seasonal market that many sellers could take advantage of.
According to Bank of America's annual Home Buyer Insights Report, 41% of renters surveyed agree that spring is the best time to buy a home. The surprising result, however, is that when ranking the seasons, winter comes in second at 24%.
In many areas of the country, the spring and summer are the most competitive seasons for buyers. Families with children often want to move over the … (1 comments)

buy: Do You Really Need A Side Job To Buy A House This Year? - 11/29/18 03:32 PM
One of the biggest misconceptions about buying a new home is that "you will need over 20% for down payment". It is the same reason why a huge number of potential first-time homeowner held back and took on extra jobs. As some were successful in making their dream a reality, some are still hustling as we speak to save for what they think is needed.

According to a new survey, 36% of millennials took on a second job to make their dreams of homeownership a reality in 2017.
Among millennials with incomes over $100,000 a year, the top ways to come up … (1 comments)

buy: Are Women More Driven To Own A Home Than Men? - 11/28/18 03:32 PM
Rumor has it that females are more eager, able and willing to buy homes than males do. We are curious to find out if this claim holds ground. We've gathered reports from one of the leading and trusted experts and this is what we found out.
In 2018, for the second year in a row, single female buyers accounted for 18% of all buyers. In 2017, 60% of millennial women listed as the primary borrowers on mortgages were single. 
According to the 2018 Home Buyer and Seller Generational Trends Report by the National Association of Realtors, one in five homebuyers in the U.S. … (2 comments)

buy: A New Perspective On Home Affordability - 11/21/18 02:50 AM
Often times when we talk about home affordability, we always mention mortgage rate increase and inventory as the key drivers. This time, we are bringing in a new player in the game that will change the way we look at home affordability. Although this may vary on a case-to-case basis, this is still definitely something you should look at.

According to the National Association of Realtors' (NAR) September 2018 Housing Affordability Index, wages have increased in every region of the country:
After applying current salaries, home prices, and mortgage rates to their Home Affordability Index equation, the index, though still lower than … (1 comments)

buy: Should You Put It On Sale or Renovate it? - 11/19/18 02:29 PM
Many homeowners fear that home price increase will make it difficult for them to afford or at the very least find a home, they want to buy. Thus, they renovate. However, is it more cost effective to renovate than sell your existing home to purchase a new one? Let us look at what homeowners have to say.
According to Home Advisor, homeowners spent an average of $6,649 on home improvements over the last 12 months. If that number seems high, it also includes homeowners who recently bought fixer-uppers. A new study from Zillow asked the question,
"Given a choice between spending … (1 comments)

buy: Brand New Home Purchase Hacks - 11/16/18 11:14 AM
If you're into real estate news, you're probably aware that supplies have gone up again balancing the scale between supply and demand. Most of the inventory that helped make this happen came from newly constructed homes. If you're thinking of buying a brand new home, here are some tips you ought to have to follow to make sure you get the best value for your money.
1. Hire an Inspector
Despite the fact that builders must comply with town and city regulations, a home inspector will have your best interests in mind! When buying new construction, you will have between 1-3 … (0 comments)

buy: The Law of Supply And Demand at Work on Home Market? - 11/15/18 09:13 AM
When the demand is high, it is normal to expect that the supply will dwindle at some point in time. It is safe to say that this phenomenon will open opportunities for prices to be pushed up giving sellers an edge. On the other hand, an increase in supply does not necessarily equate to a dip in demand.
For over three years leading up to this point, the exact opposite was true; Inventory dropped as sales soared. NAR's Chief Economist Lawrence Yun shed some light on what could be contributing to this shift,
"This is the lowest existing home sales level … (1 comments)

buy: Misconceptions on Home Buying - 11/13/18 04:00 PM
Are you one of the millions of aspiring homeowners who are having second thoughts? Are you afraid that you will be required to shell out a huge chunk of the home's total price as down payment? Do you hesitate because of your credit score? If your answer is yes, then you might be amazed and surprised to read this.
Urban Institute recently released a report entitled, "Barriers to Accessing Homeownership: Down Payment, Credit, and Affordability," which revealed that,
"Consumers often think they need to put more money down to purchase a home than is actually required. In a 2017 survey, 68% … (0 comments)

buy: Facing Your Mortgage Process Fears - 11/07/18 02:42 PM
Don't beat yourself up for having second thought about the mortgage process. Your fears are not unfounded, and as it turns out, you are not the only one. Fear comes from things we do not completely understand, and the Mortgage Process is a long and complicated process that does not come with walk-throughs and tutorials readily available at a moment's notice.
For many, the mortgage process can be scary, but it doesn't have to be!
In order to qualify in today's market, you'll need a down payment (the average down payment on all loans last year was 5%, with many buyers … (0 comments)

buy: How Does The Future Of Home Prices Look Like? - 11/02/18 04:20 PM
With the rate that we're at, one can't help but wonder how much will home prices go up to by next year. There's no sure way to tell exactly as there are a lot of factor that come in to play when it comes to real estate. The best the we can do is rely on intelligent studies and researches to give as the closest forecast of what the future holds for us.

The Home Price Expectation Survey - A survey of over 100 market analysts, real estate experts, and economists conducted by Pulsenomics each quarter.
Zelman & Associates - The … (0 comments)

buy: How Much Down Payment Do You Need to Buy A Home? - 11/01/18 03:35 PM
One of the common misconception about buying a new home has to fall under the myth of ever so scary down payment. It's not uncommon for people to say the 15%-20% is what the market demands to buy a home, which is true back then. The real estate market is an ever-changing environment, much of what we know before are either obsolete or holds little truth with our current market today.
Now that the largest generation since baby boomers has aged into prime homebuying age, there will no doubt be an uptick in the national homeownership rate.
The study from Urban Institute … (1 comments)

buy: How Affordable Are Homes In The US? - 10/31/18 03:58 PM
A lot of news and articles talk about the issue of housing affordability in the whole of the United States. Let's take a closer look to find out if the same incline happens all across the board.

According to NAR:
"A value of 100 means that a family with the median income has exactly enough income to qualify for a mortgage on a median-priced home. An index above 100 signifies that a family earning the median income has more than enough income to qualify for a mortgage loan on a median-priced home, assuming a 20 percent down payment."
* The national index … (0 comments)

buy: The Force Behind Home Price Increase - 10/30/18 03:30 PM
Nowadays, it is quite typical for the majority of the people suspect bigger forces are at work behind everything that is happening to our lives that we do not necessarily want. The government, the 1% or simply big companies conspiring to make our lives miserable beyond belief. Recently, there have been rumors about why and what is causing the home prices to go up. Let's shed light on this matter by reminding everyone about the law of supply and demand.

Whenever there is a limited supply of an item that is in high demand, prices increase. It is that simple. In real … (1 comments)

buy: Owning A Home vs Renting A Home - 10/26/18 03:50 PM
How can owning a home be beneficial for you financially? To some, the thought would seem counter-intuitive, but unknown to many, a homeowner's net-worth is forty-four times greater than that of a renter.
Federal Reserve survey of Consumer Finances revealed that the median net worth of a homeowner was $231,400 - a 15% increase since 2013. At the same time, the median net worth of renters decreased by 5% ($5,200 today compared to $5,500 in 2013).
Owning a home is a great way to build family wealth
As we've said before, simply put, homeownership is a form of 'forced savings.' Every time … (2 comments)

buy: A Quick Rundown On VA Home Loans - 10/25/18 04:12 PM
Despite the popularity, it's hard to believe that there are still a few brave Americans out there that's out of the loop on the information circle on their benefits. Let's extend a helping hand to make sure all of them get these well-deserved benefits for themselves.
If you are a veteran or you know someone who is, here is a breakdown of the VA Home Loan benefits that can be used to achieve the American Dream!
Top 5 Benefits of a VA Home Loan
The greatest benefit of a VA Loan is that borrowers can buy a home with a … (0 comments)

Rummy Dhanoa, Rummy Dhanoa Real Estate Experts (Rummy Dhanoa Real Estate Experts ) Rainmaker large

Rummy Dhanoa

Rummy Dhanoa Real Estate Experts

Eastchester, NY

More about me…

Rummy Dhanoa Real Estate Experts

Address: 760 White Plains Rd, Scarsdale, ny , 10583

Office: 9147(133) 270-1111

Mobile: (914) 438-8840

Email Me




RSS 2.0 Feed for this blog