New York State Realty's Blogs
While most Americans might dream of buying a home, today’s high interest rates have prompted many to hit pause and ponder: Is now really the right time to buy, or should I wait?
The concern is understandable. In late October, rates for a 30-year fixed-rate mortgage reached a 23-year high of 7.79%. That’s more than double the rates two years earlier, adding approximately $1,000 to a typical monthly mortgage bill (assuming a 20% down payment).
Since then, mortgage rates have nudged down, but many...
Home sellers reveal why they decided to bypass professional representation—and the mistakes they made without a trusted adviser. Homeowners who decline to use a real estate agent to sell their property are twice as likely to say they weren’t satisfied with the selling experience, according to a new survey from Clever Real Estate(link is external) of 1,000 home sellers in 2022 and 2023. Survey respondents say they realize they likely made less money on their home sale and faced more stres...
Home affordability has become a big problem in 2023, as buyers have grappled with high mortgage rates, high sales prices, and low inventory. There could be some relief around the corner, according to new data from Realtor.com; the company released its forecasted list of the top housing markets in the country that are "poised to see the strongest combined increase in home sales and listing prices in the coming year."
In other words, they're good places to be working in real estate!
Five of the t...
About half of the population is considered to be middle class, but what does that even mean in New York?
With the way the economy has been it may feel like you’re way behind this year as compared to last year. And that may be true, with inflation and everything else becoming a factor.
The “Middle Class” is defined by the Pew Research Center as “any household that earns between two-thirds and double the median U.S. household income.” But those numbers look different in each state, due to the cos...
Congress extends National Flood Insurance Program to February
The federal government funding bill passed by the Senate Wednesday extends funding of the National Flood Insurance Program without any reforms until early next year.
The legislation, spearheaded by Speaker Mike Johnson (R-La.) passed with a bipartisan vote of 87-11, with 10 Republicans and one Democrat voting in opposition, according to The Hill. The continuing resolution, or CR, extends the NFIP to Feb. 2, 2024. The bill passe...
