Andrea Silverman Weiniger Realty

04/06/2023

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04/02/2023

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04/01/2023

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03/31/2023

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03/21/2023

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03/19/2023

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03/17/2023

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03/14/2023

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03/05/2023

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03/05/2023

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08/15/2022

IT DEFINITELY IS A BUYING OPPORTUNITY! The days of bidding wars and $100K above asking price have dwindled and as a result, sellers are lowering their prices to a more realistic fair market value. This bring more inventory to the market and more choices for buyers. 2% interest is gone and 6% interest is still historically low, so buy now before they climb higher.

If you tried to buy a home during the pandemic, you know the limited supply of homes for sale was a considerable challenge. It created intense bidding wars which drove home prices up as buyers competed with one another to be the winning offer.

08/13/2022

Adjustable interest rates are what precipated the crash of 2008. Products such as negative ammortization loans, wherein homeowners could select the amount to pay monthly, incuding a $0.00 payment option. Too good to be true? The only way for the bank to recoup the money that you owe, is to substantially increase your mortgage payments to unaffordable amounts. This led to the surge in foreclosures which resulted in the crash.
We are not facing the same situation; this extraordinary rise in appreciation of homes over a very short period of time was caused by a once in a lifetime pandemic. There was a mad exodus from cities to suburbs as working remotely was the "new normal". Sellers controlled the market and prices soared. Add inflation and rising interest rates and it may feel like a crash is looming; but this is actually the start of the shift back to a more realistic pre-pandemic real estate market.

Some Highlights Many people remember the housing crash in 2008, but experts say today’s market is fundamentally different in many ways. First, there isn’t an oversupply of homes for sale today. Plus, lending standards are much tighter, and homeowners have record levels of equity. That means sign...