Posted on March 5, 2021
Senior Economist and Director of Forecasting Nadia Evangelou of National Association of Realtors reports that mortgage rates are still near historic lows despite them increasing this week. NAR is forecasting that the 30-year fixed rate to average 3.0% in the first half of this year. The economy is recovering with more Americans getting vaccinated against coronavirus.
The demand for new homes have also increased to 4.3% in January indicating that the housing market still remains a strong sector of the U.S. economy amidst the pandemic. However, the housing inventory remains at record lows, continually pushing the home prices to go up. According to NAR, home prices rose 97% while inventory dropped 55% since 2012 showing that even before the pandemic hit last year, there has already been a housing shortage.
See full article here – https://www.nar.realtor/blogs/economists-outlook/instant-reaction-mortgage-rates-march-04-2021
If you are thinking of selling, you can call David Yudell at 917-817-9701 for any questions you have.
Updated on March 4, 2021
We invite everyone to visit our open house at 822 Dean Avenue on Sunday, March 7, from 1 PM – 4PM.
You can call David Yudell at 917-817-9701 for any questions you have. See you there!
Posted on March 4, 2021
National Association of Realtors reports that in the month of January, pending home sales fell 2.8% due to housing inventory constraints that hinder prospective buyers. The report highlights that:
• Nationally, pending home sales decreased 2.8% in January from the prior month.
• Pending home sales were 13% higher from one year ago with all regions showing sales gains.
• The Pending Home Sales Index hit 122.8, an all-time high for January.
NAR’s Chief Economist Lawrence Yun said “Pending home sales fell in January because there are simply not enough homes to match the demand on the market. That said, there has been an increase in permits and requests to build new homes.” He further added that due consistent rise in housing permits for single-family homes for eight straight months is a good sign that the imbalance between supply and demand could be easing as soon as mid-2021.
For any questions about the market in your area, call David Yudell at 917-817-9701.
Posted on March 3, 2021
Realtors do a lot more than just put the property on the MLS. From pricing the home right, staging it, negotiating the price up to closing, there’s so much value a real estate agent can offer. To get more details about all the steps that go into the whole home selling process, call David Yudell at 917-817-9701. You getting your home sold for top dollar is just one call away!
Updated on March 2, 2021
I’m truly and extremely grateful to my clients for putting their trust in me in representing them with the sale of their properties! It’s an honor to be in the TOP 10 Agents for the month of February!
If you have any questions about real estate, please feel free to call David Yudell at 917-817-9701.
Updated on March 2, 2021
Posted on February 26, 2021
Realtor.com reports that mortgage rates rose sharply this week to 2.97% as the 10-year Treasury yield hit its highest level in the past year.
Layoffs have plummeted significantly last week and consumers are now more confident about the economy’s recovery. While it’s expected that mortgage rates are going to rise further, the Federal Reserve has given assurance that it would keep interest rates unchanged for a long time.
See full report here – https://www.nar.realtor/blogs/economists-outlook/instant-reaction-mortgage-rates-february-25-2021
If you need help buying or selling, call David Yudell at 917-817-9701.
Updated on February 25, 2021
According to Realtor.com’s report, home buyers are starting to emerge for the spring season. However, they are finding a tough market. The buyer demand component remains high while housing inventory remains low. Watch the video for complete details on the current housing and economic landscape.
If you have any questions about real estate in your area, or if you are thinking of buying or selling a home, feel free to reach out to David Yudell at 917-817-9701.
Posted on February 24, 2021
Some homes get sold as quickly as they get on the market. Some stay on the market for a longer period of time compared to others. Beyond the obvious elements such as location and size, here are nine factors that can affect how quickly your home sells.
The most important element that plays a huge factor in successfully getting your home sold and getting top dollar for it is getting the right realtor to help you. An experienced realtor who has a wide network of contacts and a proven-and-tested marketing system will help you sell your home without leaving any money on the table.
For any questions about real estate, you can call David Yudell at 917-817-9701
Posted on February 23, 2021
Buying or selling a home is probably one of the biggest financial and emotional transactions you’ll do in your life. You may think that you can manage it on your own, but the reality is, there’s so much more involved in the process of acquiring a property or getting one sold. A real estate agent can help you deal with all of the things involved in the process and can make the experience a pleasant one instead of having to shoulder the stress on your own. Below are things that your real estate agent can do for you. Check them out!
David Yudell is a seasoned real estate agent who has served both sellers and buyers for over 25 years. If you are thinking of selling or buying, and you don’t know where to start, call 917-817-9701 to get a free consultation.