buy: Having Thoughts On Buying Your First Home? - 10/24/18 02:46 PM
It's normal to hesitate on big decisions such as buying your first home, you don't want to jump the gun only to regret it afterward. Some may say you can never tell until you give it a try, wrong! Truth is, owning a home is costly enough as it is, what more is real estate mistake. There are ways to find out how you fare in the market, and the outcome may pleasantly surprise you.
We want to share what the typical first-time homebuyer actually looks like based on the National Association of Realtors' most recent Profile of Home Buyers & Sellers.
Here … (0 comments)

buy: 4 Steps For A Smooth Buying Process - 10/23/18 03:02 PM
We all know how competitive the real estate market has become due to the recent mortgage interest rate increase and scarcity of inventory. You don't want to jump into the market unprepared and waste time an effort, so we came up with a guide for your buying experience to be as smooth and pleasant as possible.
Below are 4 steps provided by Freddie Mac to help buyers make offers, along with some additional information for your consideration:
1. Determine Your Price
"You've found the perfect home and you're ready to buy. Now what? Your real estate agent will be by your side, helping you … (1 comments)

buy: What Does The Recent Increase In Inventory Mean For Us? - 10/18/18 04:15 PM
As most of us know, real estate markets in most areas have been very competitive due mortgage interest rate increase and low inventory of homes for sale. Now that the inventory has loosened up a lot of people have conflicting impressions about it.
New listings jumped 8% year-over-year nationally, the largest increase since 2013 Total listings in the 45 largest markets are now up 6% on average over last year This increase in housing inventory has sparked two different reactions. Some are saying this is the first sign of a potential collapse while others are saying it is a welcomed reprieve … (1 comments)

buy: Five Steps to Give You an Edge in Buying your New Home - 10/17/18 04:37 PM
The real estate market has become competitive and intimidating place in some areas. It's best to prepare yourself before entering the market for your home purchase.
In a recent article entitled, "How to Find Your Dream Home-Without Losing Your Mind," the author highlights some steps that first-time homebuyers can take to help carry their excitement of buying a home throughout the whole process.
1. Get Pre-Approved for a Mortgage Before You Start Your Search
One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search. Even if you … (1 comments)

buy: Baby Boomers Are Selling Their Homes! - 10/16/18 04:28 PM
Reports both recent and old imply that one of the reasons for the current home price inflation is the dwindling supply. Low inventories are due to Baby Boomers' unwillingness to sell their homes. Let's find out how this is wrong.
Here's what some of the experts have to say on the subject:Aaron Terrazas, Senior Economist at Zillow, says that
"Boomers are healthier and working longer than previous generations, which means they aren't yet ready to sell their homes."
According to a study by, 85% of baby boomers indicated they were not planning to sell their homes. It is true that baby boomers are … (1 comments)

buy: The Importance of Pre-Approval - 10/15/18 02:53 PM
You'll be missing out on a lot of things if you skip pre-approval in your checklist. Fear of down payment and credit score hinder a lot of potential home buyers' decision-making process, with pre-approval you can do away with hesitation and show sellers that you mean business.
Freddie Mac lays out the advantages of pre-approval in the 'My Home' section of their website:
"It's highly recommended that you work with your lender to get pre-approved before you begin house hunting. Pre-approval will tell you how much home you can afford and can help you move faster, and with greater confidence, in competitive markets."
One … (0 comments)

buy: Getting To Know More About Home Pricing History - 10/12/18 04:27 PM
There have been countless reports saying that home prices nowadays are more expensive that is was 10 years ago. While this is accurate, most reports do not include why this is not necessarily a bad thing. Let's find out why.
The reason is that homes were less affordable 25, 20, or even 11 years ago than they are today.
Obviously, buying a home is more expensive now than during the ten years immediately following one of the worst housing crashes in American history. Over the past decade, the market was flooded with distressed properties (foreclosures and short sales) that were selling at 10-50% … (0 comments)

buy: New Home Sales Continue To Rise - 10/11/18 03:55 PM
As the shortage of existing homes continues to drive home prices up, new home sales are giving us a glimpse of how the foreseeable future home sales will look like.
According to the latest New Residential Sales Report from the Census Bureau, new construction sales in August were up 3.5% from July and 12.7% from last year! This marks the second consecutive month with double-digit year-over-year growth (12.8% in July).
Below is a table showing the change in starts, completions, and sales from last August. Other notable news from the report is that the percentage of new construction sales in the $200-$299k range … (4 comments)

buy: What's Happening With Home Prices? - 10/09/18 05:13 PM
With recent market developments such as the mortgage interest rate increase and dwindling supplies, many of us expected a significant bump in home prices this year. But recent reports indicate that this year marks the first time since 2016 when home prices did not mark up by 6%.
CoreLogic's Chief Economist Frank Nothaft gave some insight into this change,
"The rise in mortgage rates this summer to their highest level in seven years has made it more difficult for potential buyers to afford a home. The slackening in demand is reflected in the slowing of national appreciation, as illustrated in the CoreLogic Home … (0 comments)

buy: What's The Real Cost Of Not Owning A Home? - 10/08/18 04:02 PM
There are countless reasons why we should have a home of our own. financial benefits, social benefits, emotional benefit, and the list goes on. Today, let's discuss the top 4 reasons backed up by studies. reported that:
"Buying remains the more attractive option in the long term - that remains the American dream, and it's true in many markets where renting has become really the shortsighted people get more savings in their pockets, buying becomes the better option."
What proof exists that owning is financially better than renting?
1. In a previous blog, we highlighted the top 5 financial benefits of homeownership:
- Homeownership … (0 comments)

buy: How's The Future Looking For Mortgage Interest Rates? - 09/27/18 03:36 PM
The way we plan and live our lives greatly depend on our ability to pay for the things we use and will be using. At the top part of most people's list is mortgage. Changes in mortgage rate directly impact us and our day to day lifestyle.
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 over the course of the next year. Depending on the amount of the loan that you secure, a half of a percent (.5%) increase in interest rate can increase your … (4 comments)

buy: Real Estate Market Reverting Back to Normal - 09/25/18 03:39 PM
With the amount of time spent in its current state, it's a little hard to establish the true norm for everyone. Newcomers to the industry who experienced the pre-bubble burst market may perceive what we have now as their norm. Some may have an ideal vision of how the normal market status should be and some may base it on how things were before the bubble burst.
After the bubble burst in June 2007, values depreciated 6.1% annually until February 2012. From March 2012 to today, the market has been recovering with values appreciating 6.2% annually. These wild swings in values were … (0 comments)

buy: Equity Rises For A Quarter Of Homes On Mortgages - 09/21/18 03:42 PM
If you're debating on moving to your dream home, you might be in luck. In some areas in the U.S. home equities rise which could give way to spending less for the long-awaited dream home for the lucky 25% of homeowners with a mortgage.
Home equity is defined as the difference between the home's fair market value and the outstanding balance of all liens (loans) on the property. While homeowners pay down their mortgages, the amount of equity they have in their homes climbs each time the value of their homes go up!
According to the latest Equity Report from ATTOM Data Solutions, … (0 comments)

buy: Owning A Home Beats Renting By 44% - 08/21/18 03:00 PM
If you think about it, it makes sense to pay for something monthly that you know will be yours in a few years time. You can consider your monthly amortization a deposit to your personal savings, only you cannot withdraw cash from it.
A study 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).
These numbers reveal that the net worth of a homeowner is over 44 times greater than that of a renter.
Owning a … (0 comments)

buy: Continuous Growth Of Millennial Homebuyers Shows No Sign Of Stopping - 08/09/18 02:03 PM
More and more Millennials turn up eager, ready and capable of becoming a homeowner. As the demand grows and supplies dwindle, there will be strict competition in the real estate arena. Here are a few things you need to know before you enter the market.
Comparatively speaking, millennials have taken longer to obtain traditional milestones (like getting married, having kids and buying a home) than generations before them, but that does not mean that they do not aspire to still achieve those things.
For older millennials (aged 25-34) who have established themselves in their career and are starting to build their families, homeownership … (0 comments)

buy: We Could Be Sitting On A Gold Mine - 08/07/18 02:00 PM
If we work on it right, every one of us could be sitting on our very own gold mine. According to millionaire David Bach, buying a home could be our ticket to wealth. This may sound counter-intuitive to some if given some thought will actually make a lot of sense. Homes have been at the top of the list of peoples investments for centuries.
In a CNBC article, self-made millionaire David Bach explained that:
"Buying a home is the escalator to wealth in America. Homeownership can also help you retire early, that is, if you pay your mortgage off."
Bach suggests that homebuyers should, "Take out a … (1 comments)

buy: Will Recent Mortgage Changes Lead To Another Disaster? - 08/02/18 02:52 PM
Most people can't help but be concerned that mortgages changes may lead to another disaster, and we can't blame them for we've been there before.The question remains, is there any foothold to peoples worries? Are lending standards truly propping up our home prices?
Back in 2005, Federal Reserve Chairman Alan Greenspan described the dramatic increases in residential real estate values as a "froth in housing markets." Greenspan went on to say:
"The increase in the prevalence of interest-only loans and the introduction of more-exotic forms of adjustable-rate mortgages are developments of particular concern...some households may be employing these instruments to purchase homes that would otherwise be unaffordable, … (0 comments)

buy: Is Buying Cheaper Than Renting? - 08/01/18 02:49 PM
Despite the common belief that renting will save you more bucks, research shows a big gap in between buying and renting wherein for the first time in six years favors going to the former.
The results of the latest Rent vs. Buy Report from Trulia show that homeownership remains cheaper than renting, with a traditional 30-year fixed rate mortgage, in 98 of the 100 largest metro areas in the United States. In the six years that Trulia has conducted this study, this is the first time that it was cheaper to rent than buy in any of the metropolitan areas.
It's no surprise, however, that those two metros are … (1 comments)

buy: We Matter More Than The Sale - 07/31/18 02:26 PM
Not all agents are the same, some may be better than others particularly because of their knowledge of the demographics and there are some who just have the right priorities. Let's talk about what you should look for in an agent before deciding to hire them.
One great example of an agent who is in your corner and is always looking out for your best interests is one of the main characters on ABC's Modern Family, Phil Dunphy.
For those who aren't familiar with the character, Phil is a REALTOR® with a huge heart who always strives to do his best for his family and his clients.
In … (2 comments)

buy: Do You Need A New Home Before Retirement? - 07/25/18 02:50 PM
Lifestyle changes are dramatic during retirement, so is the change in finances. The question is, "will your home be still a good fit for you after retirement?".There are a lot of factors to consider in order to determine if your current home will still be sustainable after you retire.
According to the National Association of Exclusive Buyers Agents (NAEBA), there are 7 factors that you should consider when choosing your retirement home.
1. Affordability
"It may be easy enough to afford your home today but think long-term about your monthly costs. Account for property taxes, insurance, HOA fees, utilities - all the things that will be due whether … (0 comments)

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Rummy Dhanoa

Rummy Dhanoa Real Estate Experts

Eastchester, NY

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Rummy Dhanoa Real Estate Experts

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

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