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Possibly. It is accurate to say that interest rates have been gradually inching up in recent months. However, it’s easy to forget that securing a 30-year fixed mortgage at a rate as low as 2.75% was highly unusual, especially after enjoying historically low interest rates for an extended period.
Supply and demand in the real estate market are actually within normal ...
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In 2021, new signed contracts for Manhattan and Brooklyn co-ops, condos, and townhouses outperformed last year, with new listings struggling to keep pace with demand.
As a result bidding wars are increasing, the Covid discount is shrinking, and prices are on the rise in NYC.
In November, for example, new signed contracts for Manhattan co-ops under $500,000 increased by 52.7 percent over November 2020, while new listings for the same price category fell by 15.3 percent, according to the latest edition of the Miller Samuel Report. Manhattan condos priced $500,000 to $999,000 saw new signed contracts increase ...
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A favorable tax environment, company expansions, the trend of working remotely and, yes, the climate are drawing more residents from California, Chicago and states across the northeast.
Here are five tools and tips to makes the search easier:
▪ Set a realistic budget: Real estate experts recommend that buyers spend a maximum of three-and-a-half times their annual income on a home purchase. A household that earns a total of $100,000, for example, could spend up to $350,000 on a condo or house.
▪ ...
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Let’s take a look at closed sales in the first quarter of 2021.
Manhattan has finally joined the real estate party that the wider tri-state region, and also most markets in the USA, have been experiencing since the summer.
Manhattan lost more residents than the other boroughs during the pandemic ...
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Since the reopening of the marke last June, 70% of the contracts signed came from a listing with a price cut. (source: ubrandigs)
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Months of stay-at-home orders, growing numbers of infections and deaths, working remotely while the kids are attending school in the next room, stop-and-start business closures, and no end in sight to the COVID-19 pandemichave all had an unexpected impact on Miami-Dade’s real estate market. It’s just not what you probably think it is.
COVID-19 has turned out ...
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