Ishakis Finance Report Mortgage Broker Brooklyn
Loan Officer Yael Ishakis’s take on mortgage and finance news.
The real estate market does not occupy a space outside the laws of physics. As Sir Isaac Newton so aptly theorized, “for every action, there is an equal and opposite reaction.” When applying the English physicist’s Third Law to today’s rising mortgage rates, anticipating the reaction can be valuable information if you are planning to buy or sell a home or commercial property.
After five consecutive years of Millennials outpacing all other home-buying demographics, sellers would be wise to wrap their thinking around what makes this generation tick.
Home price growth slowed to its lowest rate in 20 months according to the 20-City Home Price Index issued by Case-Shiller. After years of dismal readings, Las Vegas, Nevada led the cities included in the index.
Though the real estate business never stops, most people associate its busy periods of the year with the spring and summer seasons. And while this is true to a large extent, those who think that selling a home in the fall is a bad decision are sorely mistaken.
Homeowners looking to maximize their return on investment often want to know what season best achieves that goal. Getting near or full asking price can be influenced by a wide range of factors, including market trends, inventory and interest rates to name a few.
Football season has kicked off, temperatures are cooling and pumpkin spice everything is for sale in the stores. Yes, fall is here. While most people associate the spring and summer months as the ideal times of year to buy or sell, fall is still a great time to put your home on the market.
Positive economic growth numbers are always cause for celebration and the second quarter GDP just went vertical. After nearly four years of sub-par growth, the real GDP hit 4.1 percent in the second quarter.
Historians like to say that those who do not learn the lessons of the past are doomed to repeat them. In the real estate industry, the chances of that happening are slim because agents and other professionals follow market trends closely.
Last week’s economic reports included readings on sales of new and previously-owned homes along with weekly readings on mortgage rates and new jobless claims.
Before an owner can market a property to buyers that want to use a FHA loan, he will want to familiarize himself with the FHA’s standards. FHA won’t insure loans on just any property. While their standards aren’t as stringent as they used to be, a home needs to be in relatively good condition to qualify for FHA financing.