According to the latest numbers from CoreLogic released on Thursday, the average American homeowner with a mortgage gained 19.6 percent in equity in the first quarter of 2021, which amounts to a $33,400 — the highest annual gain per borrower in at least a decade. The growth from the first quarter of 2020 to the first quarter of 2021, represents a combined equity gain of over $1.9 trillion. Skyrocketing home values have continued in spite of the pandemic in large part due to the severe dearth of inventory observed throughout the country. While this risks widening inequality and makes the leap from renting to owning very difficult, those whoRead More →

Some homeowners opt to sell their residence without a real estate agent to get around paying a commission and make more of the profit. Forty-three percent of people who sell without a real estate agent think that if they sell themselves, they’ll end up doing a little extra work in exchange for not paying a commission or closing fee. According to the research, however, what they actually get is a lot of time spent hustling to make the sale and a final selling price that is less than what the market can bear. FSBOs accounted for 8% of home sales in 2020. The typical FSBORead More →

Being the unofficial start of the summer and since NYC is finally reopening here are some activities to enjoy the weekend. 1.Brooklyn Memorial Day Parade Things to do Brooklyn Memorial Day Parade,  Midtown West May 31 2021 Catholic war veterans lead Brooklyn service organizations in honor of fallen soldiers and their families in one of the oldest parades in Brooklyn—in fact, it’s now in its 154th year. Sponsored by the United Military Veterans of Kings County, the ceremony kicks off at 11am on Third Avenue and 78th Street in Bay Ridge, then proceeds along Fourth Avenue and ends with a 21-gun salute by the U.S.Read More →

Continuing inventory woes have hampered existing-home sales for the third consecutive month, according to the National Association of Realtors’ latest market report released on Friday. Existing-home sales declined across the country, except in the Midwest region, where sales increased 0.8 percent from March. Total existing-home sales declined 2.7 percent month over month to a seasonally adjusted annual rate of 5.85 million. However, existing-home sales were up 33.9 percent from last April, when most of the country was in lockdown. Due to the worsening imbalance between supply and demand, the median existing-home price increased 19.1 percent year over year to a record high of $341,600. Existing-home prices increasedRead More →

According to ATTOM Data Solutions, the months of May and June offer the greatest home seller premiums in the U.S. – with ten of the best days to sell in the month of May alone. ATTOM Data Solutions’ recent analysis of 40.1 million home sales from 2011-2020, home sellers selling in the late spring and early summer are realizing the biggest premiums – on average 13.4 percent above estimated market value in May and 11.7 percent above in June. The analysis looked at any calendar days in the last ten years with at least 10,000 single family home and condo sales. The months realizing theRead More →