My State MLS - Real Estate News, Insights and Tips

As COVID-19 became a reality in the year 2020, the city's rural and suburban areas were thought to be buyer's markets. "That changed and the markets were sold-out markets as of the spring of 2020." states Mihal Gartenberg, who is a licensed associate real estate broker at Coldwell Banker. "[With NYC], by the spring and summer of 2021 it was evident that the shift was through the air. Then, in the fall, we had selling like a lion." Now, fast forward to 2023 and home buyers' demand remains. There are a myriad of reasons that keep the sales from increasing. The lack of inventory throughout the state has increased the competition for buyers and driving prices up. Additionally, rising mortgage rates have potential buyers stuck off the market. Present market conditions for the housing market within New York State New York is home to all kinds of things, from the world's largest financial capital to farmlands in rural areas, mountains, beaches and everythin...

Based on the latest Census Bureau information The median household income in America is about $71,000 and Zillow claims that the   median house is worth $346,270. . However, what happens when the family's income is lower and is looking to save money on housing in the current market? In a recent GOBankingRates survey that surveyed more than 1,000 respondents, many are planning to achieve precisely that. Around 4 percent of respondents are planning to spend less than $300,000.00 on the next house they buy -- and in a number of American cities, the possibility is possible.   Recent research by Rocket Homes identified the 10 top cities where a salary of $65,000 wage is enough to afford a luxurious home. "These cities are little gems hidden far from the bustling city chaos," said Aviva Sonenreich who is a Forbes Real Estate Council member and executive broker of Warehouse Hotline.   "They aren't talked about in the city However, they do offer an amazing service: affor...

For first-time buyers, deciding on the "right" moment to purchase is a  lose-lose game --especially with the current economic climate. Inflation, high interest rates and the shortage of homes for sale have made transitioning from a renter into a homeowner more difficult. The good thing is that regardless of how the economy is doing, it is possible to make the necessary changes you can make in order to make sure you'll be able to purchase your dream house in the event that the perfect one is available. This starts by getting a good understanding of your budget and what amount of buying power you are able to provide. Some factors that may impact your buying power As the disease spread, the mortgage rate fell to record lows while house prices soared to new highs. But, the change was reversed after the Fed started a string of rate increases in March 2022. Rates on mortgages are at the highest point in nearly 20 years. Even though house prices dropped at times, they'll be...