With all the headlines and talk in the media about the shift in the housing market, you might be thinking this is a housing bubble. It’s only natural for those thoughts to creep in that make you think it could be a repeat of what took place in 2008. But the good news is, there are concrete data to show why this is nothing like the last time. There’s Still a Shortage of Homes on Continue Reading
Manhattan Market supply is underwhelming, and we should begin to see a seasonal trend downward as we move into the holidays. Supply has risen slightly for the week of October 21st and stands at 7,748. Pending Sales are down almost 2%; 2,714. Market Pulse The market pulse measuring the ratio of supply and demand seems to be evidencing the beginning of the Continue Reading
Key Takeaways If you’re planning to sell your house this year, you likely have questions about what the shift in the housing market means for your home sale. You might be wondering: Should I wait to sell? Are buyers still out there? And can I afford to buy my next home? Let’s connect so you can get answers to these questions and Continue Reading
This season brings upon the striking tree’s hues of oranges, yellows, purples, reds, and browns. Additionally, the many townhouses and buildings feel the spirit of the season too. Particularly, as you stroll through Gramercy admiring the classic and historic townhouses. You will be enveloped by the mystique and charm of the neighborhood. Moreover, only residents Continue Reading
Since the 2008 housing bubble burst, the word recession strikes a stronger emotional chord than it ever did before. And while there’s some debate around whether we’re officially in a recession right now, the good news is experts say a recession today would likely be mild and the economy would rebound quickly. As the 2022 CEO Outlook from KPMG says: “Global CEOs see a ‘mild and Continue Reading
If you’re planning to buy a home this year, one of the first steps on your journey is getting pre-approved. Especially in today’s market when mortgage rates are higher than they were just a few months ago, getting a mortgage pre-approval can be a game changer. Here’s why. What Is Pre-Approval? To better understand why pre-approval is key, it’s Continue Reading
As you set out to buy a home, saving for a down payment is likely to be top of mind. Down payments are typically a percentage of the purchase price. As a borrower, you pay a percentage of the total cost of the home upfront. The mortgage (a type of loan) with the lender covers the difference. The size of your down payment can affect your loan options. The Continue Reading
Manhattan Market report's for the week ending October 14th evidence supply at 7,684, up 2%, and Contract Signed, 2,761, own 2% from the previous week. The shifting season evidenced by the weather and rates, has also impacted our markets. Each area and building in the City is an individual "market segment" with its own supply/demand dynamics. Overall in Manhattan, the supply/demand market pulse Continue Reading
Home price appreciation is also cooling as the housing market cools in response to the dramatic rise in mortgage rates. And if you’re following along with headlines in the media. Then, you’re probably seeing a wide range of opinions calling for everything from falling home prices to ongoing appreciation. But what’s true? What’s most likely to happen moving forward? While opinions Continue Reading
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