Two Reasons To Sell Now

We all realize that the best time to sell anything is when demand is high and the supply of that item is limited. The last two major reports issued by the National Association of Realtors (NAR) revealed this information: THE PENDING HOME SALES REPORT The report announced that pending home sales (homes going into contract) “surged” […]

Market Update, Real Estate Market Conditions
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Mortgage Interest Rate Will Increase

Buying a Home? Consider COST not just Price The difference between COST and PRICE? As a seller, you will be most concerned about ‘short term price’ – where home values are headed over the next six months. As a buyer, you must be concerned not about price but instead about the ‘long term cost’ of […]

Real Estate Market Conditions
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Economic Impact of Real Estate Activity On Our Economy

This report compiled by the National Association of Realtors: The Real Estate Industry accounted for $171,017 million or 14.5% of the Gross State Product in 2011. Economic Contributions are derived from … –Home construction –Real estate brokerage –Mortgage lending –Title insurance –Rental and Leasing –Home appraisal –Moving truck service –Other related activities   When a […]

Real Estate Market Conditions
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Real Estate Market Update

The closed median home price in December 2012 for Long Island, which includes Nassau, Suffolk, and Queens data, was $357,750, representing a 7.3% increase over December 2011. All three counties reported year over year increases in the category of closed median home prices. Nassau County reported a December 2012 closed median home price of $400,000 […]

Real Estate Market Conditions
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Where Are House Prices Headed This Winter? Time Is Of The Essence.

I believe home values might actually begin to soften on a month-over-month basis throughout the winter. There are other expert analysts that are also notifying their readership of this possibility. Calculated Risk, in a post last week explained: “The monthly Case-Shiller house price indexes will show month-to-month declines soon, probably starting with the October report […]

Real Estate Market Conditions
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Homeownership Creates Extra Wealth!

Yes, mainly through its ability to force owners to save rather than through property appreciation. Homeownership appears to be a self-imposed savings plan, which through time leads to greater wealth accumulation as compared to comparable renters. In short, buying a home makes Americans save. It cost more to rent than own right now! And you […]

Real Estate Market Conditions
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It’s Not Good News Nor Bad News….It’s Just News!

So many people want to hear news on the housing market and immediately categorize it as either good or bad. In reality, most news about real estate is not ‘good’ nor ‘bad’. It’s just news. Current home values are much lower than just a few years ago. Many see this as bad news. However, there […]

Real Estate Market Conditions
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From The Voice Of Real Estate….Jolie Powell

GREAT NEWS….FIRST HALF OF 2012 LONG ISLAND HOUSING FIGURES SIGNALS RECOVERY! YES, THE LOCAL REAL ESTATE MARKET HAS REBOUNDED, AS STATISTICS FOR THE FIRST HALF OF 2012 SHOWS A SIGNIFICANT RISE IN CONTRACTED SALES ACTIVITY FOR ALL LONG ISLAND. RECORD HIGH HOUSING AFFORDABILITY CONDITIONS, WHICH TAKES INTO ACCOUNT THE LOW MORTGAGE RATES AND VERY AFFORDABLE HOME […]

Real Estate Market Conditions
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Is There a 3.8% House Seller Tax in the Health Care Bill?

I have been asked this question recently about a possible 3.8% tax which will be put on home sales beginning in 2013. I am not an accountant and give you this information just as a simple answer to the misconception.  Please understand that, when it comes to IRS regulations, you should check with your accountant for the […]

Finance, Real Estate Market Conditions
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Are You Looking To Purchase A Short Sale?

It seems that there is a significant amount of confusion when it comes to purchasing a short sale. There are many misconceptions when it comes to this type of transaction, so below I have provided some information to potential buyers of short sales. If you are looking to purchase a short sale, understand that it […]

Real Estate Market Conditions, Uncategorized
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