With hints of spring in the air, rising home prices are right around the corner. Our agents have been advising their clients that home prices are lower today than they will be in the coming months, and despite slightly higher interest rates, today is still the best time to buy.   Experts are predicting that "(t)he interest rate for a 30-year fixed-rate mortgage in the U.S. is...

2020 was a year that Oxford and Spire agents demonstrated just how resourceful and dynamic they can be, as they leveraged tools and technology to deliver outstanding service to their clients amid a global pandemic. With Oxford and Spire having created a strategic partnership to pool their talent and resources, over 750+ agents now have access to the state-of-the-art platforms that give them...

Prices to purchase real estate in New York City have been falling and interest rates remain low, according to Bankrate interest rates today range from 3.8%-4.13% based on the size of the loan. These low rates make it an ideal time to buy, especially for first-time homebuyers. The effect of interest rates on your purchasing power is significant. Every $100,000 at 3.92% interest costs $473;...

For many people in New York City, summertime means moving time. There’s a lot of demand for the apartments and homes that flood the market this time of year. Knowing what you’re looking for in your next home helps you find that dream home that much faster. Oxford agents have honed their expertise as guides to NYC neighborhoods and buildings.   “Figuring out what...

The New York City Department of Finance has priced the “Full Market Value” of NYC to be $1,071,973,871,651 (Trillion)!   Tax Revenues to grow to over $211 Billion due to new inventory by FY2017.   Brooklyn sees the greatest growth; however, Manhattan dominates in terms of total dollar value invested.   Commercial property...

For those considering a move, the inevitable question is always whether it is better to rent or to buy. This is a particularly tough question in New York real estate, since rent prices can often seem intimidating. Why not just pay a mortgage instead? But according to research from SmartAsset.com, perhaps the question isn’t all that difficult. According to their national...

First, it’s important to know that the  Fed Target Rate  is less directly connected to mortgage rates. It also seems like this hike had been anticipated and mortgage rates have had time to prepare. In fact, as the Fed announced the target rate went up, mortgage rates actually moved slightly lower. This is good news, and most lenders still quote...

    The New York Times published an informative cover storyon how the quoted square footage of apartments is frequently “exaggerated, massaged, misrepresented and manipulated.”       I have noticed for years that sellers and landlords routinely overstate square footage. I would estimate an average embellishment of over 10...

  Is it better to rent or buy? The choice depends upon the goals and circumstances of the buyer.  Stories of New Yorkers purchasing in the 1970s, or even as late as the mid-to-late 1990s, and making millions on their apartments, are legion. And if you make all your payments on a 30 year mortgage, then you should have a sizable asset for your...