Patrick Eagan - Real Estate

12/21/2023

Located in the heart of the Allentown Historic District, this 3,072 square foot Significant Mixed Use building features a private residence and income-producing ground floor office space. Located within a walkable neighborhood filled with dining, nightlife, and retail shops this property is a must-see!

Learn more at https://www.gurneyrealestate.com/real-estate/49-virginia-place-buffalo-ny-14202/b1513468/145575160 or call Patrick Eagan - Real Estate at 716.574.0639 to schedule a private showing today.

05/25/2023

Congressman Brian Higgins (D-NY-26) announced introduction of the Historic Tax Credit Growth and Opportunity (HTC-GO) Act (H.R. 1785). The bipartisan legislation expands and enhances the federal Historic Tax Credit program.

https://youtu.be/hxs9SUh5wdU

05/04/2023

"The Fed raised rates"

Often misunderstood by many, this does NOT mean that standard fixed-rate mortgages instantly go up.

Most mortgage rates closely follow Treasury yields, which the Fed does not directly control.

Notable exceptions are bridge and construction loans, which are typically directly tied to the SOFR index, which is directly affected by the Fed's increases. HELOCs and ARMs too.

For this reason, mortgage rates have not and will not directly follow the Fed bumps.
As an example, from March 2022 through today, bridge rates have increased by 5%, while standard mortgages are up approximately 2%.

P.S. After 10 increases in 14 months, there will hopefully be no need to talk about Fed rate increases for a while...

04/12/2023

U.S. inflation has finally eased in March to its lowest level in nearly two years, marking a positive step forward in the economic recovery. However, the question remains whether this will outweigh the high-interest rates that persist.

04/11/2023

Surprisingly spacious ranch in fantastic Green Acres location, close to shops and restuarants. A Newly added covered porch that is so popular for a place to sit, to rock, to greet your neighbours as they pass accompanies many updates which include a new updated kitchen, poured concrete driveway, sump pump, furnace/ac, refinished hardwood floors, custom window treatments, and built in ...

This Residential listing has 2 Beds, 1 Full Bath, 1 Half Bath. Schedule a showing for 598 Lynbrook Avenue in Tonawanda-Town, NY.

02/15/2023

See today’s Buffalo News front page, top half: “Canada bars foreigners from buying real estate—& taxes those who already own” https://lnkd.in/gfSY4fj

The twin policies, buried in Canadian legislation passed without much notice last year, enrage people on both sides of the border between Buffalo and Fort Erie, Ont.

02/13/2023

A good read...
I believe that you can get a decent spread between the cap rate and interest rate (1.5-2%) with fixed-rate debt, so it’s a good time to buy. Additionally, Fannie and Freddie have been announcing rate reductions in the last week, so if that trend continues it will certainly help.

Multifamily real estate is carrying a significant amount of risk right now. Here's what you need to know about the all-important real estate sector.

01/31/2023

Mortgage demand is ratcheting up as we begin to enter the historically active spring buying season, and interest rates, which were also in buyers’ favor this past week.

The United States economy continues to produce mixed signals about whether or not the country is headed for a recession. This past week the Commerce Department reported that the United States’ gross domestic product (GDP) grew by 2.9% in Q4—only slightly higher than the 2.8% GDP prediction from ...

12/07/2022

Higher interest rates, lower leverage, and still-low cap rates may make loans and deals more difficult, but transactions continue to get done

Higher interest rates, lower leverage and still-low cap rates may make loans and deals more difficult, but transactions continue get done

10/28/2022

According to the new quarterly National Student Housing Report from Yardi Matrix, the pre-leasing period ended in September with 96.6% of bedrooms leased at Yardi 200 universities for another record-breaking year. This is a 2.3% increase over last year’s record.

According to Yardi Matrix, the fall pre-leasing season ended with nearly 97% of bedrooms leased at Yardi 200 universities.

10/28/2022

No matter how many times you fail, never give up‼

Resilience is the key. 😎

//VIDEO OF THE DAY No matter how many times you fail, never give up! Resilience is the key. 😎 Stunning live performance of Yoann Bourgeois. 😍 ... 3196 comments on LinkedIn