Don’t miss our open house at 822 Dean Ave in Bronx this Sunday, March 7, 1 PM – 4 PM!

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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!

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Pending home sales decreased 2.8% in January but went up from last year

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.

See full report here – https://www.nar.realtor/newsroom/pending-home-sales-retreat-2-8-in-january-but-climb-from-last-year

For any questions about the market in your area, call David Yudell at 917-817-9701.

What to do when selling your home…

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!

 

Top 10 Agents in February 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.


#sellyourhome #freeCMA #freehomevaluation #freshmeadows #jamaicaestates #kewgardenhills #holliswood #flushing #realestate #Realtor #EXITRealtyFirstChoice

MBA forecasts mortgage rates to rise to 3.4% by the end of the year – CNBC

Mortgage rates are still at historically-low levels despite an increase in the last few weeks making a 30-year mortgage still affordable and even a 15-year mortgage even more affordable. Because of this, refinance applications this week are still 50% higher than the same week last year. In terms of inventory, there’s still a lack of existing homes for sale. New constructions are being built at a higher rate and this is poised to tackle this issue but despite that, there’s still a tight supply of homes to meet the buyer demand.
 
See full video below where Mortgage Bankers Association CEO Bob Broeksmit discussed mortgage rates and the state of the housing market in 2021. 
If you are someone that has been thinking of buying or selling but just not sure where to start, call David Yudell at 917-817-9701 to get your questions answered.

Mortgage Interests Rose Sharply This Week to 2.97%

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.

Realtor.com’s Housing Market Update

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.

9 Reasons Why Some Homes Sell Faster

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

Reasons Why You Need A Realtor When Selling or Buying

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.

Existing-Home Sales Ticked Up by 0.6% in January

Existing-Home Sales in January 2021

Existing-home sales ticked up slightly in January and increased 23.7% from a year ago, according to the latest data from the National Association of REALTORS® (NAR). January reported a seasonally adjusted annual rate of 6.69 million existing-home sales.

Single-family home sales increased at a seasonally adjusted annual rate of 5.93 million in January, rising 0.2% from 5.92 million in December. This is up 23.0% YoY. For condos and co-ops, existing-home sales increased 4.1% from December and 28.8% YoY to a seasonally adjusted annual rate of 760,000.

By Region:

Midwest
Existing-Home Sales: 1.57 million (+22.7% YoY)
Median Price: $227,800 (+14.7% YoY)

Northeast
Existing-Home Sales: 870,000 (+24.3% YoY)
Median Price: $361,400 (+15.8% YoY)

South
Existing-Home Sales: 2.94 million (+25.1% YoY)
Median Price: $263,300 (+14.6% YoY)

West
Existing-Home Sales: 1.31 million (+21.3% YoY)
Median Price: $461,800 (+16.1% YoY)

How the Industry Is Responding:

“Home sales continue to ascend in the first month of the year, as buyers quickly snatched up virtually every new listing coming on the market. Sales easily could have been even 20% higher if there had been more inventory and more choices. Home sales are continuing to play a part in propping up the economy. With additional stimulus likely to pass and several vaccines now available, the housing outlook looks solid for this year.” — Lawrence Yun, NAR Chief Economist

See full article here – https://rismedia.com/2021/02/21/existing-home-sales-ticked-up-january/

For any real estate-related questions you have, you may call David Yudell at 917-817-9701.