Eric Hsu - SpaceMAX Realty

08/30/2023

It is still a seller's market, but owners are not selling unless either they absolutely have to or don't need a mortgage to buy.

Homebuyers who flinched at last week's mortgage rates hitting a 20-year high might want to brace themselves: This week, rates crested above that to a 22-year high.

06/16/2023

Mortgage rates have likely reached its peak

The U.S. Federal Reserve gave stretched-thin homebuyers a rare break that could lead to mortgage rates falling by this much by year's end.

04/22/2023

Nearly One-Third of US Homebuyers in Last 6 Months Have Paid Cash
More and more buyers have been paying for houses entirely in cash to avoid rising mortgage rates, according to NAR. About 28% of sales were made entirely in cash in February, down slightly from the 29% of all-cash sales in January.
https://markets.businessinsider.com/news/commodities/us-housing-market-mortgage-rates-homebuyers-all-cash-crash-rebound-2023-4?_cldee=L7fzwtHbPon2PCxP3wEeCmwEoqjdT5q1rwaRDF_gsdcN6B0-T0vZxNeCJwv84dqe&recipientid=contact-e16683adfd2c4044a220fd8f50959137-71c19c1b83474911ad4e54c70d335d8a&esid=f03c7dbf-f3dd-ed11-9c7b-00155d0079bb

04/22/2023

Study: Homeowner Wealth is 40 Times Higher Than Renters
Property appreciation has surged in the last decade, giving most homeowners more than $100,000 in equity lending further evidence that homeownership is an important avenue to build household wealth. "Homeownership is a catalyst for building wealth for people from all walks of life,” says NAR Chief Economist Lawrence Yun.

Most owners have earned more than $100,000 in equity over the last decade, but discrepancies among racial groups persists, according to new NAR data.

04/17/2023

The VA has reduced the VA funding fee for certain VA loans closed after April 7, 2023.
https://www.businessinsider.com/personal-finance/va-funding-fee-rate-reduction-2023-4

04/08/2023

Pending Home Sales Tick Up for Third Month in a Row
Pending home sales rose 0.8% in February, the 3rd consecutive month of improvement as the housing market grapples with high mortgage rates, elevated prices and a limited supply. February’s gain follows January's 8.1% increase, when warm weather and a dip in mortgage rates encouraged buyers.

The report is a good omen for the spring homebuying season.

04/06/2023

Homebuyers Move Swiftly To 'Lock in a Good Deal Now'
Mortgage rates are still falling as the Fed announced another quarter-point rate hike — and indicated increases may be nearing their long-awaited end. “With rates below 6.5%, more Americans can purchase the median-price home by putting 18% down without being cost-burdened,” says Nadia Evangelou, senior NAR economist.

While lower rates are helping buyers overcome affordability hurdles, home prices are still expected to remain high.

12/19/2022

Just Sold!
62-41 82 Street
Middle Village, NY 11379
Represented veteran buyer who purchased with a VA loan.
#11379

06/08/2022

Just Sold by your Queens Realtor!
Grandview Condominiums
84-32 Grand Avenue
Elmhurst, NY 11373
#11373

04/18/2022

Just Sold by Eric!
20 Scudders Lane
Glen Head, NY 11545
Are you looking to buy or sell in Queens or Nassau Counties?
Send me a message

03/11/2022

Just Sold!
222 Cypress Street, Floral Park, NY 11001
$820,000 and financed by Rocket Mortgage