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...

We’ve all seen it in the news – the Federal Reserve keeps raising interest rates in a bid to curb inflation and the soaring housing prices. But is any of this working? What do rising interest rates mean for home buyers and sellers in today’s market? Does it have a real effect on sales taking place in a market that is as in demand as New York City? We did a deep dive on these...

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;...

    Average rental prices climbed for the 23rd consecutive month to $4,073. Average Condo prices in NYC are now around $2,662,100; while average prices reach $1.15 million. Buying is a better option for higher income earners, while rentals are a...

Luxury median sales prices surged by 25% to over $6MM from Q4 2014. New Development closing sales prices rose by 15.37% to $2,059,411 Closing time to close deals has fallen by 21.9% to 82 days, from 105 days in Q4 2014   The fourth quarter Manhattan market ended seeing fantastic price movement. Median sales prices rose 17.3%,...

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...

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...