buy: Homes: Demand vs Supply - 07/18/18 01:50 PM
Despite the forecasts of mortgage rate rise, demand for homes has continuously outnumbered its supply. Let's find out why.
According to the National Association of Realtors (NAR), the inventory of homes for sale "has fallen year-over-year for 36 consecutive months," and now stands at a 4.1-month supply. A 6-month supply of inventory is necessary for a balanced market and has not been seen since August of 2012.
NAR’s Chief Economist Lawrence Yun had this to say, Is There Any Relief Coming? According to the CoreLogic's 2018 Consumer Housing Sentiment Study, four times as many renters are considering buying homes in the next 12 months than homeowners who are planning to sell, "which is the … (1 comments)

buy: Buying A Home Is More Than Just Fulfilling The American Dream - 07/17/18 03:07 PM
We work hard, we get a good job, we start a family, we buy a house and then, when we're done with that house, we buy a bigger one. We accumulate wealth in our home and then pass that wealth on to our children, who will be better off than us. That's the American dream. Now let's take a closer look at some more personal reasons why we buy homes.
1. Owning your home offers you the stability to start and raise a family
Between the best neighborhoods and the best school districts, even buyers without children at the time of purchase may … (2 comments)

buy: Home Purchasing Power Approaching Record High? - 07/12/18 01:13 PM
It is given that purchasing power is always desired. But with all the current trends in the real estate industry, how true is it that many believe that house-buying power is near historic levels?
We keep hearing that home affordability is approaching crisis levels. While this may be true in a few metros across the country, housing affordability is not a challenge in the clear majority of the country. In their most recent Real House Price Index, First American reported that consumer "house-buying power" is at "near-historic levels." Their index is based on three components:
Median Household Income Mortgage Interest Rates Home Prices The report … (1 comments)

buy: Best Home Insurance Providers Of 2018 - 07/10/18 02:52 PM

Nowadays, people buy insurance for all sorts of things they hold dear. Jewelry, pets, computer equipment and believe it or not, even body parts. It gives one peace of mind and a sense of security to know their possessions are safe. All the more reason why your home should be insured with the best insurance provider you can find. Here a few things you need to know about home insurance and the top providers of 2018.
The first thing you need to know about homeowners insurance is what it covers. One well-known aspect of homeowners insurance is that it covers your dwelling … (0 comments)

buy: Why Deciding To Buy A Home Now May Save You Money - 07/05/18 01:53 PM
Overall price, initial cash out, monthly amortization etc. are the things we look out for in buying a home. A lot of these may seem higher than it used to last year, but what most do not know is that it is lower compared to how it used to way back.
However, it is not just the price of a home that determines its affordability. The monthly cost of a home is determined by the price and the interest rate on the mortgage used to purchase it.
Today, mortgage interest rates stand at about 4.5%. The average annual mortgage interest rate from 1985 to 2000 … (0 comments)

buy: Why You Need To Partner With An Agent To Sell Your Home - 07/03/18 01:39 PM

 
In the early times, selling may be defined simply as "the process of handing over something in exchange for money." Nowadays, with technology upping the ante with marketing and promotional media platforms, and payment methods and terms adding to the already complicated ordeal. Selling your home can be quite a process.
In order to accomplish all three goals, a seller should realize the importance of using a real estate professional. We realize that technology has changed a buyer’s behavior during the home buying process. According to the National Association of Realtors" 2018 Home Buyer & Seller Generational Trends Report, the first step … (2 comments)

buy: Will The Next Recession Affect The Real Estate Industry? - 06/28/18 02:56 PM
There has been a lot of talk regarding when the next recession could be, we all remember that the housing crisis in 2008 caused the last recession. Is there a likelihood of that repeating itself?
Economists and analysts know that the country has experienced economic growth for almost a decade. They also know that a recession can’t be too far off. A recent report by Zillow Research shed light on a survey conducted by Pulsenomics in which they asked economists, investment strategists and market analysts how they felt about the current housing market.
That report revealed the possible timing of the next recession: That timing concurs with a recent survey of … (0 comments)

buy: Are You Ready To Buy Your First Home? - 06/26/18 03:06 PM

 
Home purchases are big decisions made not without hesitation. It's normal to question one's self-capability to pay for such at first. Nevertheless, some brave through this intimidating ordeal and managed just fine.
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 are some interesting revelations on the first-time buyer:
You may not be much different than many people who have already purchased their first homes. If you're still hesitating or debating whether or not you should go for it, meet with a local real … (0 comments)

buy: How Homes Are More Affordable Now Than Before - 06/21/18 01:42 PM

We have a lot of potential homeowners and families having second thoughts about buying today. Current mortgage rates and home prices intimidate buyers and it's completely understandable. ​
With both home prices and mortgage rates increasing this year, many are concerned about a family's ability to purchase a major part of the American Dream - its own home. However, if we compare housing affordability today to the average affordability prior to the housing boom and bust, we are in much better shape than most believe.
In Black Knight's latest monthly Mortgage Monitor, they revealed that in the vast majority of the country, it is actually more affordable to … (0 comments)

buy: Home Appraisal Explained - 06/20/18 03:51 PM

 
Price plays a crucial role in deciding whether an owner will sell his/her home or a buyer will buy it. But how does one set a price that's neither too low not to earn profit nor too high to deter potential buyers?
Today we'll talk about how the home appraisal process works. A home appraisal is a required part of the loan process and is conducted by a certified appraiser who evaluates and determines the property's fair market value.
The appraiser's report includes a detailed look at the home's general condition and a review of the surrounding area. Since housing markets fluctuate--as do … (1 comments)

buy: Why You Shouldn't Do FSBO - 06/19/18 02:46 PM

 
In one of our previous posts, we have discussed why now is the best time to sell your home. For those who have realized and recognized the opportunity, you may find this information very helpful.
In today's market, with home prices rising and a lack of inventory, some homeowners may consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons why this might not be a good idea for the vast majority of sellers.
Here are the top five reasons:
1. Exposure to Prospective Buyers 
According to the 2017 Profile of Home Buyers and … (2 comments)

buy: Renting Vs Buying Today - 06/12/18 03:37 PM

A shelter is considered to be one our basic commodity, and many got stuck thinking it's just that, a commodity that we need to have and pay for every month. Truth is, it can be something so much more, it can be an investment, a legacy or a source of income. It mainly depends on how you utilize it to your advantage particularly by owning instead of renting.
People often ask if now is a good time to buy a home, but nobody ever asks whether or not it's a good time to rent. Regardless, we want to make certain that everyone … (3 comments)

buy: Market Rates Drop Low In April - 06/11/18 02:21 PM

Demand for houses continuously goes up while its supply dwindles. It's a common knowledge that scarcity equates to price inflation, does this mean it's time to sell?
According to recently released dat​a from the National Association of Realtors (NAR), the median number of days that a home spent on the market hit a new low of 26 days in April, as 57% of homes were on the market for under a month. ​
NAR's Chief Economist, Lawrence Yun, had this to say,​  
Strong buyer demand, a good economy, and a low inventory of new and existing homes for sale created the perfect storm to accelerate the time between listing … (1 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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