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New York Real Estate Experts Blog

Friday, July 26, 2019   /   by Michelle Ramos

The Truth About Real Estate Investors

It's not commonly known to everyone that a significant percentage of houses bought in the US are purchased by small investors. Is this a good thing or a bad thing? Well, the truth is, it's both, it makes the market move which helps maintain a healthy balance of supply and demand.

Many have speculated that the large institutional conglomerates such as Blackstone, American Homes 4 Rent, and Colony Starwood dominate investor purchases.

However, a special report on investor home buying by CoreLogic, Don’t Call it a Comeback:

Housing Investors Have Been Here for Years, shows this is not the case. Ralph McLaughlin, CoreLogic’s Deputy Chief Economist and author of the report, explained his findings at the recent National Association of Real Estate Editors conference in Austin:

“Investor buying activity in the U.S. is at record highs. And our records go back confidently, about 20 years…

What’s going on and why? Well, it turns out, it&rsq ...

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Thursday, July 25, 2019   /   by Michelle Ramos

Is It A Good Idea To Refinance Your Home?

There's no doubt refinancing options are tempting to many but is it the right choice for you? The truth is, the answer depends on how long you plan to stay at your home.


Why do you want to refinance?
There are many reasons to refinance, but here are three of the most common ones:

Lower your interest rate and payment – This is the most popular reason. If you have a 5% interest rate or higher, it might be worth seeing if you can take advantage of the current lower interest rates, hovering below 4%, to reduce your monthly payment and overall cost of the loan.
Shorten the term of your loan – If you have a 30-year loan, it may be advantageous to change it to a 15 or 20-year loan to pay off your mortgage sooner.
Cash-out refinance – With home prices increasing, you might have enough equity to cash out and invest in something else, like your children’s education, a vacation home, or a new business.

Once you know why you might want to refinance, ask ...

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Wednesday, July 17, 2019   /   by Michelle Ramos

No More Overestimating; Find Out Exactly How Much Your Down Payment Should Be

Whenever we talk ask potential homebuyers about what they think their budget for the down payment should be, we always get a lot of guessing and second-guessing. It's not unusual for people to overestimate the down payment and it's simply because of the lack of knowledge in the market of the area. Worry no more, we got exactly what you need for this.

Freddie Mac lays out the advantages of pre-approval in the ‘My Home’ section of their website:

“It’s highly recommended that you work with your lender to get pre-approved before you begin house hunting. Pre-approval will tell you how much home you can afford and can help you move faster, and with greater confidence, in competitive markets.”

One of the many advantages of working with a local real estate professional is that many have relationships with lenders who will be able to help you through this process. Once you have selected a lender, you will need to fill out their loan application and pr ...

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Wednesday, July 10, 2019   /   by Michelle Ramos

Wants Vs. Needs; An Important Consideration Before Buying a Home

Aside from the obvious reasons about priorities, knowing what you want versus what you need will also help your buying experience go a tad bit smoother and seamless.

If you’ve been thinking about buying a home of your own for some time now, you’ve probably come up with a list of things that you’d LOVE to have in your new home. Many new homebuyers fantasize about the amenities that they see on television or Pinterest, and start looking at the countless homes listed for sale through rose-colored glasses.

Do you really need that farmhouse sink in the kitchen to be happy with your home choice? Would a two-car garage be a convenience or a necessity? Could the “man cave” of your dreams be a future renovation project instead of a make-or-break right now? The first step in your home buying process should be getting pre-approved for your mortgage.

This allows you to know your budget before you fall in love with a home that is way outside of it. The ...

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Friday, July 05, 2019   /   by Michelle Ramos

Gen Z and Millennials are Preparing to Buy Their First Home

They may have taken longer than previous generations to finally decide they are ready to buy their first homes, but we are now seeing more and more interest from these young generations online and in social media.

According to a survey from Open Listings, 70% of single renters are more likely to spend their Sunday nights swiping through house listings than dating profiles.

All that time window shopping has led 45% of millennials to expect the first home they buy to be their “dream home”! They are willing to wait longer, save more for a larger down payment, and are pickier about the listings they want to tour and the features that they want to see in their first home.

Waiting a little longer to buy a home than their parents or grandparents did has also helped young buyers become more established in their careers prior to making such a large purchase. Lawrence Yun, NAR’s Chief Economist, recently commented,

“Older millennials are now entering t ...

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New York Real Estate Experts
Team Of eXp Realty
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Yonkers, NY 10710
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image001.png The data relating to real estate for sale or lease on this web site comes in part from HGMLS. Real estate listings held by brokerage firms other than Rummy Dhanoa - eXp Realty - New York Real Estate Experts are marked with the HGMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker.

The information appearing herein has not been verified by the Hudson Gateway Multiple Listing Service, Inc. or the Hudson Gateway Association of Realtors, Inc. or by any individual(s) who may be affiliated with said entities, all of whom hereby collectively and severally disclaim any and all responsibility for the accuracy of the information appearing at this web site, at any time or from time to time. All such information should be independently verified by the recipient of such data. This data is not warranted for any purpose.

©2019 Hudson Gateway Multiple Listing Service, Inc. All rights reserved.

The data relating to real estate for sale or lease on this web site comes in part from MHMLS. Real estate listings held by brokerage firms other than eXp Realty - New York Real Estate Experts are marked with the MHMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. The information appearing herein has not been verified by the Mid-Hudson Multiple Listing Service, Inc. or by any individual(s) who may be affiliated with said entity, all of whom hereby collectively and severally disclaim any and all responsibility for the accuracy of the information appearing at this web site, at any time or from time to time. All such information should be independently verified by the recipient of such data. This data is not warranted for any purpose. ©2019 Mid-Hudson Multiple Listing Service, Inc. All rights reserved.