Thursday, November 21, 2019 / by Vanessa Saunders
Maybe some of you saw the CBS "Eye on Money" segment this morning about why Millennials aren't buying homes, and may not own a home in their lifetimes. (If you didn't you still can. Click HERE.) CBS Business Analyst and long time financial adviser Jill Schlesinger went over a litany of the reasons why Millennials can't find and buy a house, all of which we have addressed often in this space. She mentioned how Millennials can't afford the rising cost of houses, how they are burdened with huge student debt and how they can't find a suitable first home because of the lack of homes on the market. Admittedly, these are all serious problems.
But maybe there's one solution Millennial home shoppers haven't tried.
Get a good REALTOR®.
A REALTOR®, a trained professional, is in the business of matching up homes with buyers, and is committed to looking after the financial welfare and housing needs of their clients. But more than that, a good REALTOR® (and that is ...
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Wednesday, November 20, 2019 / by Vanessa Saunders
Inventory on the market today is low, especially among existing homes in the entry and middle-level tiers of the market. It is hovering well below the 6-month supply typically found in a more normal market, as shown in the graph below:
With inventory being one of the biggest housing market challenges today, finding a starter home right now isn’t easy. According to the Q3 Housing Trends Report from the National Association of Homebuilders (NAHB), 68% of those searching for a home think their search will get harder or stay about the same over the next 12 months.
The same study reveals,
“In Qtr3’19, buyers actively engaged in the process of buying a home are more likely to have spent at least 3 months searching (58%) than a year earlier (55%).”
This is certainly no surprise, given the current inventory status. So, what’s the good news? The NAHB continues to say,
“If still unable to find a home in the next few m ...
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Tuesday, November 19, 2019 / by Vanessa Saunders
In a Deloitte study entitled "Block Chain In Commercial Real Estate" (CRE), the authors defined a block chain (note the word is not capitalized as it is the description of a process and not a name or brand) as “a decentralized, distributed, and public digital ledger that is used to record transactions across many computers so that the record cannot be altered retroactively without the alteration of all subsequent blocks and the consensus of the network.”
What that mouthful means to lenders is significant. With block chain transactions, lenders will be able to qualify borrowers based on their digital credentials in seconds, versus days or even weeks today. Block chain transactions will also offer lenders the ability to store sensitive information like credit scores, social security numbers, and transaction records in a convenient, secure digital form.
There are opportunities for block chain transactions in many facets of commercial real estate and real estate i ...
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Monday, November 18, 2019 / by Vanessa Saunders
There's a growing trend among the homeless in New York City. According to Jacquelyn Simone, policy director of Coalition for the Homeless, over the last few years, more and more of the people who come to her agency for help are working New Yorkers who simply can’t keep up with booming rental prices topping nearly $3,000 per month. As a result, she said the city is facing it’s worst homelessness crisis since The Great Depression. Simone added that the length of stay for people in the shelter system has steadily risen as the the supply of affordable apartments has declined. “About a third of families in shelter have someone who is working and just can’t afford an apartment.”
The Joint Center for Housing Studies’ 2019 State of the Nation’s Housing report confirmed that the stock of low-cost units priced below $800 per month has actually declined 17 percent (4 million) since 2011.
Inman News reported recently that the problems seen in ...
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Monday, November 18, 2019 / by Vanessa Saunders
Global Property Systems helped our International Buyers find this gorgeous 240 acre property with Farm House along the Wallkill River with views of the Shawangunk Ridge- Mohonk Mountain Preserve.Read More
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