days: Getting Ahead Of Competition Through Pricing - 01/23/19 03:04 PM
Unlike last year when sellers can aggressively put a price on their houses and still come up successful in selling, this year will be slightly challenging. More inventory means more option for the buyers and they almost always certainly look at the price first.
As we have explained before, pricing your home at or slightly below market value actually increases the number of buyers who will see your home in their search!
Over the last six months, more inventory has come to market while the months' supply of inventory available has dropped. This means that the demand for homes to buy … (0 comments)

days: Selling Your House This Season Is A Great Idea - 11/27/18 03:57 PM
Although it is a common knowledge that putting your home for sale during the holiday season would prove profitable, there are still few people who are hesitant and could not find a good reason to sell. How about we give you seven (7).
Relocation buyers are out there. Many companies are still hiring throughout the holidays and need their new employees in their new positions as soon as possible. Purchasers who are looking for homes during the holidays are serious buyers and are ready to buy now. You can restrict the showings on your home to the times you want it … (1 comments)

days: How Did The Q3 Home Sellers Fair This Year? - 11/20/18 04:03 PM
Contrary to the majority's beliefs, homes sold in the third quarter of 2018 has been marked as one of the highest average price gains for years. This is great news for homeowners who are yet to take advantage of the home price appreciation. Let us take a closer look.
According to a recent report by ATTOM Data Solutions, home sellers who sold their homes in the third quarter of 2018 benefited from rising home prices and netted an average of $61,232.
This is the highest average price gain since the second quarter of 2007 and represents a 32% return on the … (1 comments)

days: Home Sales Forecast in 2019 - 11/09/18 02:47 PM
With drastic events in the real estate industry like the mortgage interest rate increase this year, it's not uncommon for one to wonder what the future has in store for us.
Sources:
Mortgage Bankers Association (MBA) - As the leading advocate for the real estate finance industry, the MBA enables members to successfully deliver fair, sustainable, and responsible real estate financing within ever-changing business environments.
The National Association of Realtors (NAR) - The largest association of real estate professionals in the world.
Freddie Mac - An organization which provides liquidity, stability, and affordability to the U.S. housing market in all economic … (1 comments)

days: 2 Key Things To Watch Out For in Real Estate - 10/05/18 03:18 PM
Today's real estate market are driven by two influential forces, interest rates & supply. Whether we like it or not our system are ultimately governed by these two which can stiffen or soften a particular market area with the slightest movements by its needle.
Interest Rates
Mortgage interest rates have been on the rise and are now over three-quarters of a percentage point higher than they were at the beginning of the year.
According to Freddie Mac's latest Primary Mortgage Market Survey, rates climbed to 4.72% for a 30-year fixed rate mortgage last week.
The interest rate you secure when buying a home not only … (1 comments)

days: Mortgage Rates Continue to Climb - 10/03/18 03:54 PM
Although it's true that another increase just occurred recently, our current rates are still low compared to what we had back 10, 20, 30 and 40 years ago. Some buyers may have missed to take advantage of the lowest rate in history, but we're still at the lower end to date historically speaking.
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 … (1 comments)

days: How does supply of homes for sale today directly affect buyers? - 10/02/18 02:42 PM
The simplest analogy I could give is a seesaw, imagine supply is on one end and demand is on the other. When supply drops the demand will rise accordingly, thus opening an opportunity to raise prices.
Buyer Demand
The map below was created after asking the question: "How would you rate buyer traffic in your area?" The darker the blue, the stronger the demand for homes is in that area. The survey showed that in 38 out of 50 states buyer demand was slightly lower than this time last year but remains strong. Only six states had a 'stable' demand level.
Seller Supply … (0 comments)

days: How Much Is Your Home Worth Today? - 09/26/18 03:05 PM
One of the main reasons why real estate have been at the top of the list of great investments is its structurally sound appreciation model. The premise is, as time goes, the population grows but the land mass of a region remains the same. Thus, circling back to the ever dependable law of supply and demand. The rate on increase of a home's value varies greatly per location and it's economic state.
CoreLogic broke down appreciation even further into four price ranges, giving us a more detailed view than if we had simply looked at the year-over-year increases in national median home … (0 comments)

days: Now Is The Best Time To Put Your House In The Market - 08/03/18 02:14 PM
It's a simple case of supply and demand. Lower inventory equates to higher demand which in turn leads to faster sales and occasionally, even higher prices. So this means higher yield, less time in the market with little effort. Let's discuss.
The National Association of Realtors (NAR) released the results of their latest Existing Home Sales Report which revealed that home sales declined 0.6% to a seasonally adjusted annual rate of 5.38 million in June from 5.41 million in May, and are 2.2% below a year ago.
Some may look at these numbers and think that now is a bad time to sell their house, but in … (1 comments)

days: 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)

days: 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)

days: 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)

days: Two Steps To Ensure You Sell Your Home With The Best Price - 07/24/18 02:40 PM
Sometimes to be able to get the best out of things, we must act against our gut will. This applies to what we are about to discuss with you today. Selling your home may sound to be simple enough, but not when you what to get the best price for your home's value at the time. Here are two sure way to sell your home for the best value.
1. Price it a Little Low ​
This may seem counterintuitive, but let's take a look at this concept for a moment. Many homeowners think that pricing their homes a little OVER market value … (1 comments)

days: How Will The Next Recession Affect Housing? - 07/19/18 03:30 PM
With experts forecasting the next recession in the horizons, how will the real estate industry be affected? The good news is, it will not fall victim to the next economic storm at all.
Here are the opinions of several experts on the subject:
 
Reference: https://bit.ly/2NxaFQ3
www.NYREEX.com

(0 comments)

days: 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)

days: 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)

days: 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)

days: 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)

days: 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)

days: 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)

 
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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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