Buying a house in Brooklyn NY │4 Reasons Spring is a Great Time to Buy a Home!

Buying a house in Brooklyn NY │4 Reasons Spring is a Great Time to Buy a Home!

If you are searching in Brooklyn, NY for your Dream Home, it Takes Work. Most of our buyers will spend between 8 to 11 weeks searching for a new home. It can take some time to find the right house in the right area for the right price. And then you have to submit a competitive offer and negotiate the terms of the deal. Without the right agent, things can get very frustrating.

We are experienced broker in Brooklyn NY and when you give us a call, we'll put together a list of all the things you're looking for in your new home so We can help you find the home that suits your needs. We'll search together to find you the right home no matter how much work it takes.  Let’s get started.

Our Topic of the day is 4 Reasons Spring is a Great Time to Buy a Home!

Here are four great reasons to consider buying a home today instead of waiting.

Prices Will Continue to Rise

CoreLogic’s latest Home Price Index reports that home prices have appreciated by 6.6% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 4.3% over the next year.

The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense.

Mortgage Interest Rates Are Projected to Increase

Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage hovered close to 4.0% in 2017. Most experts predict that rates will rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors are in unison, projecting that rates will increase by nearly a full percentage point by this time next year.

An increase in rates will impact YOUR monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is necessary to buy your next home.

Either Way, You Are Paying a Mortgage

There are some renters who have not yet purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.

As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to have equity in your home that you can tap into later in life. As a renter, you guarantee your landlord is the person with that equity.

Are you ready to put your housing cost to work for you?

It’s Time to Move on with Your Life

The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise.

But what if they weren’t? Would you wait?

Look at the actual reason you are buying and decide if it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer, or you just want to have control over renovations, maybe now is the time to buy.

If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings.

You might also enjoy reading...

• Top 5 Reasons to Hire a Real Estate Professional When Buying or Selling!
• Should I Wait Until Next Year to Buy? Or Buy Now? [INFOGRAPHIC]
• 80% of Renters Believe Homeownership is a Part of Their American Dream
• 2 Major Myths Holding Back Home Buyers

Source... KCM RossMery Blog   http://nyhomesforsale.blog/

To protect your interest, it is necessary that you have a knowledgeable agent working for you. Who is an expert in the local market and ensure that you make the best possible decisions?

We all are dedicated to keeping you on top of our local market. 

To reach us, please call/ text 917-515-9783

Or email us nyhomeseller@gmail.com

Search for the newest listings in Queens NY by map (click picture below)

Thinking of selling your home? 

Find out What is your home New York worth now!

Or call/Text 917-515-9783 For More Information.

New York City Homes Values Are Up! What Is Yours Worth Now? It's Fast, Free and Easy!
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Brooklyn NY │Home Prices: The Difference 5 Years Makes

Brooklyn NY │Home Prices: The Difference 5 Years Makes

Brooklyn, NY, is Manhattan's neighbor, but a notable borough. If it were its own city, it would be the third-most populous one in the country. Brooklyn is the changing area with the most vibrant community.

Next, to Queens, we have a unique neighborhood.

*Cypress Hills

*East New York

*Bushwick

The topic of the day is Home Prices: The Difference 5 Years Makes

The economists at CoreLogic recently released a special report entitled, Evaluating the Housing Market Since the Great Recession. The goal of the report was to look at economic recovery since the Great Recession of December 2007 through June 2009.

One of the key indicators used in the report to determine the health of the housing market was home price appreciation. CoreLogic focused on appreciation from December 2012 to December 2017 to show how prices over the last five years have fared.

Frank Nothaft, Chief Economist at CoreLogic, commented on the importance of breaking out the data by state,

“Homeowners in the United States experienced a run-up in prices from the early 2000s to 2006, and then saw the trend reverse with steady declines through 2011. After finally reaching bottom in 2011, home prices began a slow rise back to where we are now.

Greater demand and lower supply – as well as booming job markets – have given some of the hardest-hit housing markets a boost in home prices. Yet, many are still not back to pre-crash levels.”

The map below was created to show the 5-year appreciation from December 2012 – December 2017 by state.

Nationally, the cumulative appreciation over the five-year period was 37.4%, with a high of 66% in Nevada, and a modest increase of 5% in Connecticut.

Where were prices expected to go?

Every quarter, Pulsenomics surveys a nationwide panel of over 100 economists, real estate experts, and investment and market strategists and asks them to project how residential home prices will appreciate over the next five years for their Home Price Expectation Survey (HPES).

According to the December 2012 survey results, national homes prices were projected to increase cumulatively by 23.1% by December 2017. The bulls of the group predicted home prices to rise by 33.6%, while the more cautious bears predicted an appreciation of 11.2%.

Where are prices headed in the next 5 years?

Data from the most recent HPES shows that home prices are expected to increase by 18.2% over the next 5 years. The bulls of the group predict home prices to rise by 27.4%, while the more cautious bears predict an appreciation of 8.3%.

Bottom Line

Every day, thousands of homeowners regain positive equity in their homes. Some homeowners are now experiencing values even higher than before the Great Recession. If you’re wondering if you have enough equity to sell your house and move on to your dream home, let’s get together to discuss conditions in our neighborhood!

You might also enjoy reading...

·                Mortgage Rates on FIRE! Home Prices Up in Smoke?

·                Top 5 Reasons to Hire a Real Estate Professional When Buying or Selling!

·                Should I Wait Until Next Year to Buy? Or Buy Now?

Source... KCM RossMery Blog   http://nyhomesforsale.blog/

To protect your interest, it is necessary that you have a knowledgeable agent working for you. Who is an expert in the local market and ensure that you make the best possible decisions?

We all are dedicated to keeping you on top of our local market. 

To reach us, please call/ text 917-515-9783

Or email us nyhomeseller@gmail.com

Search for the newest listings in Queens NY by map (click picture below)

Thinking of selling your home? 

Find out What is your home New York worth now!

Or call/Text 917-515-9783 For More Information.

 Like This: 

New York City Homes Values Are Up! What Is your Worth Now? It's Fast, Free and Easy!
Search All Homes For Sale Home Valuation Get an Offer in 24 Hours Market Report Seller Eguide MY REVIEWS		Rossmery Mosquera Winzone Realty 917-515-9783 Contact Me
You Can Also Visit Us At:

Sell my home in NY Ι The Difference an Hour Will Make This Spring

At an area level in Queens or Brooklyn NY, the seller's market remains strong with some changes in the interest that fluctuate on selling price level.

 Particularly around 11368 zip code. The addition of new store and business entities in the region makes Milestone one of the very busiest areas in Queens.     

 For some families, choosing a fresh home is the largest financial decision they'll ever make and so, there are numerous are extensive complicated decisions involved with choosing your brand-new home.   Some Highlights:

• Don’t forget to set your clocks forward this Sunday, March 11th at 2:00 AM EST in observance of Daylight Saving Time.
• Unless of course, you are a resident of Arizona or Hawaii!
• Every hour in the United States: 614 homes are sold, 81 homes regain equity (meaning they are no longer underwater on their mortgage), and the median home price rises $1.51!

 

 

Queens Homes Values Are Up! What Is Yours Worth Now? It's Fast, Free and Easy!
Search All Homes For Sale Home Valuation Get an Offer in 24 Hours Market Report Seller Eguide MY REVIEWS		Rossmery Mosquera Winzone Realty 917-515-9783 Contact Me
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Cypress Hills NY | Mortgage Rates on FIRE! Home Prices Up in Smoke?

Cypress Hills NY | Mortgage Rates on FIRE! Home Prices Up in Smoke?

Thinking of buying or selling a home in Cypress Hills NY. As real estate agents, we are confident that you will receive the best selling or buying experience with our knowledge and skill to help you on the way. Among the methods we take advantage of is to analyze the existing inventory on a regular basis, and we will get the best dials for our clients as it affects your selling or buying power a home the Cypress Hills area.

Mortgage Rates on FIRE! Home Prices Up in Smoke?

Mortgage interest rates have already risen by over a quarter of a percentage point in 2018. Many are projecting that rates could increase to 5% by the end of the year.

What impact will rising rates have on house values?

Many quickly jump to the conclusion that an increase in mortgage rates will have a detrimental impact on real estate prices as fewer buyers will be able to qualify for a loan. This seems logical; if there is less demand for housing then prices will drop.

However, in a good economy, rising mortgage rates increase demand as many prospective purchasers immediately jump off the fence to guarantee they get the lower rate.

Let’s look at home prices the last four times mortgage rates increased dramatically.

In each case, home prices APPRECIATED and did not depreciate. No one is projecting as dramatic an increase in rates as the examples above. Most are projecting an increase of approximately 1% by the end of the year.

The last time mortgage rates increased by 1% over a twelve-month period was January 2013 (3.41%) to January 2014 (4.43%). What happened to house prices during that span? They appreciated by 9.8%.

Just two weeks ago, Rick Palacios Jr., Director of Research at John Burns Real Estate Consulting explained:

“Mortgage rates have risen 1% or more ten times in the last 43 years, with little impact on home sales and prices when the economy was also strong…Historically, rising confidence, solid job growth, and higher wages have more than offset reduced demand for housing resulting from higher mortgage rates.”

Bottom Line

When mortgage rates increase, history has shown that prices appreciate (and do not depreciate) during that same time span.

You might also enjoy reading...

• Where Are Mortgage Interest Rates Headed in 2018?
• Which Comes First… Marriage or Mortgage?
• Top 5 Reasons to Hire a Real Estate Professional When Buying or Selling!
• Should I Wait Until Next Year to Buy? Or Buy Now?

 

Source... KCM RossMery Blog   http://nyhomesforsale.blog/

To protect your interest, it is necessary that you have a knowledgeable agent working for you. Who is an expert in the local market and ensure that you make the best possible decisions?

We all are dedicated to keeping you on top of our local market. 

To reach us, please call/ text 917-515-9783

Or email us nyhomeseller@gmail.com

Search for the newest listings in Queens NY by map (click picture below)

Thinking of selling your home? 

Find out What is your home New York worth now!

Or call/Text 917-515-9783 For More Information.

 Like This: 

Queens Homes Values Are Up! What Is Yours Worth Now? It's Fast, Free and Easy!
Search All Homes For Sale Homes Close to Where You Work 15 Seconds Home Valuations Get an Offer in 24 Hours See Recently Sold Homes Mortgage & Refinance In Foreclosure MY REVIEWS		Rossmery Mosquera Winzone Realty 917-515-9783 Contact Me
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