Real Estate News

End of January shows change in mortgage applications

Published: 06 Feb 2017

Mortgage conditions shifted at the end of 2017's first month, according to the Mortgage Bankers Association. In a statement on its most recent "Weekly Survey," released on Feb. 1, the organization said that the adjusted Market Composite Index had declined 3.2 percent since the previous week. While average contract interest rates for some fixed-rate mortgages increased, both the seasonally adjusted Purchase Index and Refinance Index saw a decrease of at least 1 point.


New report examines last 10 years of New York luxury market

Published: 03 Feb 2017

The latest Elliman report from Douglas Elliman and Miller Samuel Inc. looked at the evolution of home prices in Manhattan since 2006. According to this source, the sales of luxury co-ops and condos reached their peak in 2007, before plummeting to less than $1,400 per square foot in 2009. Since then, the market mounted a slow comeback, though things have slumped somewhat since 2013.


Record-setting low for distressed home sales

Published: 01 Feb 2017

For the average property buyer, distressed property sales may represent a shrinking market, according to new data. CoreLogic recently reported on the state of distressed and cash sales as of October 2016. According to this source, the two sectors paralleled each other, since both distressed and cash sales shares were lower at that month than they had been exactly a year before.


Home hunting and virtual reality: An incoming match

Published: 31 Jan 2017

A surprising match of industries could be on the horizon: real estate and virtual reality. The potential of this technology could give homebuyers a new way to assess properties before purchase and add to their experience. These new additions could also improve the way realtors offer homes, changing the timeframe for an average sale and possibly increasing consumer confidence.


What the new Dow figures could mean for mortgages

Published: 31 Jan 2017

The Dow Jones Industrial Average recently surprised many by reaching a record high of 20,000 points. According to The Wall Street Journal, this latest accomplishment is part of a series of sporadic benchmarks seen over the years. The Dow first closed over 1,000 in 1972, and it's been nearly 18 years since it exceeded the 10,000 mark in 1999.


Using title insurance to contest easements

Published: 30 Jan 2017

As a property owner you will have to prepare for infringements on their claims from all sides. Just as a rogue claimant might appear to argue that your ownership is illegitimate, a major company might also challenge your stated boundaries. This is yet another reason to purchase the extra owner's insurance to cover possible expenses from a major encroachment of space.


Will technology change mortgages in 2017?

Published: 28 Jan 2017

The idea of "machine learning," that is, computers recognizing patterns and acting on their own, is obviously a game changer for technology. According to Mortgage Professional America, AI could also play a role in overseeing mortgages.


Changes could affect New York real estate

Published: 26 Jan 2017

The state of both commercial and residential real estate ion New York could change soon, according to multiple sources. Luxury buyers in particular will have much to consider as they evaluate properties in the Empire State. Several factors show the differences in local buying conditions and what the impact of the recent development has been.


New home buyers shouldn't neglect the suburbs

Published: 26 Jan 2017

There are clear barriers to purchasing a home in the suburbs, but that doesn't mean there can't also be some good reasons to invest in property here. Given the changes in possible homeowner age, the suburbs could become appealing again as a new generation looks for an alternative to crowded, overpriced cities.


4 factors which may impact future housing sales to seniors

Published: 26 Jan 2017

Looking forward in the housing sector requires thinking about what the new buyers will look for in their next homes. It also means thinking about the possible changes coming to the market, from both business conditions and the new government administration.


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