Vanessa Lacks - NYS Lic. Real Estate Salesperson

04/21/2026

04/19/2026

It is a shame that in 2026, this TOM FOOLERY STILL OCCURS!!! Money is GREEN no matter the COLOR of the person!!!!

https://www.instagram.com/reel/DXR9gmbkoRm/?igsh=MTE2dXI4dTFvbGtqZQ==

12/28/2025

Renting vs. Buying in NYC: A 2025 Perspective
Is It Cheaper to Rent or Buy in NYC in 2025?
Throughout my career as a real estate agent, I have frequently been asked whether it is more affordable to rent or buy a home in New York City in 2025. Drawing from my experience, I can say that renting generally offers a lower upfront cost compared to purchasing a property. However, the monthly expenses for renters can actually be higher over time.
Currently, median rents in NYC and New Jersey have reached record highs, with Manhattan rents exceeding $4,500 per month. In many cases, the monthly mortgage payment for a comparable property may be similar to rent, but purchasing a home has the added benefit of building equity.
It is also important to consider the “break-even” point—the moment when buying becomes financially more advantageous than renting. In the NYC market, this typically occurs between five and seven years of homeownership. Therefore, while renting may seem cheaper at first, buying can provide greater value in the long term for those planning to stay in their home for several years.

12/28/2025

The Ultimate 2025-2026 NY/NJ Real Estate Market Statistics Guide

Understanding the New York and New Jersey real estate markets for 2025-2026 is essential for buyers, sellers, and investors navigating a period of normalization following years of volatility. This guide presents key trends, forecasts, and actionable advice for all market participants.
Market Trends Overview
Moderate Price Growth
The region is experiencing moderate growth in home prices. The statewide median price in New York has reached $460,000, representing a 5.7% increase. In New York City, the median stands at $875,000, up 8%. New Jersey’s median is $563,900, reflecting a 4.8% rise.
Tight Inventory
Inventory across both states is growing but remains below pre-pandemic levels. New York’s inventory has increased by 5.5% and New Jersey’s by 10.6%. Despite these gains, both markets hover around 3 to 4 months of supply, maintaining a seller’s market overall.
Longer Days on Market (DOM)
Homes are taking longer to sell, giving buyers more time for due diligence. In New York, the average days on market range between 40 and 60, while in New Jersey, the average is around 45 days.
Buyer Preferences
Move-in-ready homes continue to sell quickly, while properties that require updates need to be priced strategically to attract interest.
Mortgage Rates
Mortgage rates for 2025 are expected to range between 6.5% and 7.5%. These rates are anticipated to ease between 5.8% and 6.5% in 2026, which may impact affordability and the profiles of prospective buyers.
Staten Island Market Highlights
Median home prices in Staten Island range from $730,000 to $750,000, representing a 4% to 5% increase. The North Shore sees medians between $550,000 and $750,000, while the South Shore ranges from $700,000 to over $1 million. Inventory is particularly limited for detached homes and in exclusive neighborhoods such as Todt Hill.
NYC Boroughs Breakdown
• Manhattan: Median price of $1.24 million, up 3%, with homes selling faster (reduced DOM).
• Brooklyn: Median condo price at $1 million; average DOM is 118 days.
• Queens: Average price of $736,291, up 3.9%.
• Bronx: Single-family home median price is $655,000, up 7.4%.
New Jersey Market Overview
• North Jersey: Bergen County’s median single-family home price is $880,000, an increase of 11.6%. Condos and townhouses have a median price of $532,500, with an average DOM of over 80 days.
• Central/South Jersey: Monmouth County’s median is $705,000, with pending sales closing in about 20 days.
2025-2026 Market Forecast
Experts predict a stable and predictable market with no expectation of a price crash. Buyers can anticipate more leverage, reduced competition, and better opportunities for negotiation. Sellers will benefit from sustained demand, but must focus on accurate pricing and maintaining good property condition. Multi-family investments remain especially attractive due to strong rental demand.
For Buyers
• Rely on hyper-local data for decision-making.
• Obtain mortgage pre-approval before starting your home search.
• Exercise patience, but be prepared to act quickly when the right opportunity arises.
For Sellers
• Utilize professional marketing strategies to enhance property visibility.
• Base pricing on expert comparative market analysis (CMA), not automated estimates.
• Make essential property updates to maximize sale price.
Next Steps
• Get Your Free Staten Island Home Valuation
• Browse Homes for Sale in Staten Island & NJ

09/07/2025

As of early September 2025, the real estate market shows a "wait-and-see" dynamic, with buyers having increased leverage but still facing high home prices and elevated mortgage rates. Inventory levels have grown, yet overall sales have slowed as buyers and sellers exercise caution.
For home buyers
Inventory has expanded, providing more choices. The national supply of existing homes for sale is up by double-digit percentages compared to the previous year, mainly due to an increase in property listings relative to purchases. New construction availability is also high, resulting in additional incentives from builders.
Prices remain high, though growth has decelerated. Home prices are near record highs nationally, but the rate of appreciation has decreased significantly. Some local markets have experienced minor price declines. National averages mask regional differences, with ongoing price growth in parts of the Northeast and Midwest and flattening or declines elsewhere.
Buyers have increased negotiating power. Greater inventory and less competition enable buyers to negotiate on price and request concessions such as closing cost credits or rate buydowns. Inspection contingencies are now more common in offers.
Mortgage rates stay elevated. Thirty-year fixed rates have receded from 2023 peaks but remain in the mid-to-high 6% range throughout 2025. Federal Reserve actions and economic uncertainty contribute to volatility, which affects market timing.
For home sellers
Buyers are more selective. Sellers report that buyers are increasingly strategic and conscious of pricing. Overpriced properties tend to remain on the market longer and may ultimately require price reductions.
Pricing and presentation are important. Competitive initial pricing, effective staging, and professional marketing are emphasized to attract offers and support the listed price.
Sellers hold less leverage. Homes continue to sell near or just above asking price in many regions, but the number sold above list price has dropped. Average days on market have increased, indicating slower sales activity.
Inventory shifts differ by region. Changes in market dynamics vary; sellers in areas with lower inventory, such as parts of the Midwest and Northeast, retain more influence than those in regions with higher supply.
For the market overall
The "lock-in effect" is diminishing. Many homeowners with low pandemic-era mortgage rates have been reluctant to sell, constraining supply. Recent trends indicate a gradual easing as life changes prompt moves, although inventory remains below pre-pandemic norms.
Rental prices are increasing. With homeownership remaining inaccessible for some, rental costs continue to rise. This trend can make fixed-rate mortgages attractive over time, even at higher rates.
A major downturn is not anticipated. Analysts do not expect a housing market crash. Lending practices are stricter than before the 2008 crisis, and most homeowners possess substantial equity, which mitigates the risk of significant corrections.
Advice for buyers and sellers
It is recommended to prioritize personal financial preparedness rather than attempting to predict market movements.
When buying, leverage expanded inventory and negotiating opportunities. Consult a local agent, act promptly when finding a suitable property, and negotiate for repairs or concessions where possible.
If selling: Establish appropriate pricing from the outset, focus on effective presentation, and prepare for negotiation. Although price appreciation may persist, consistently above-list offers are less common.

06/03/2025

On June 02, 2025, the national average interest rate for a 30-year fixed mortgage is 6.93%, down from 6.97% the previous week. The average rate for a 30-year fixed refinance is 6.89%, also down from 6.92% the previous week.
Call me when you're ready to buy or sell in New York and New Jersey!!!

02/27/2025

THE GOOD, THE BAD, AND THE UGLY!! Mortgage Rates to Climb After Hotter-Than-Expected January Inflation Report

January’s inflation report came in hotter than expected, though some of the “surprise” is due to start-of-the-year effects that have become more pronounced in recent years. Volatile hotel prices pushed the all-important shelter category back up to 0.4% after it had fallen to 0.3% in recent months. Mortgage rates will climb higher today as expectations for further Fed rate cuts are pushed to the fall.
Core prices, which exclude the volatile food and energy categories ignored by the Fed, rose 0.45% from a month ago, faster than the 0.3% expected by forecasters—partly due to start-of-year effects. Compared to a year ago, prices in the core categories are 3.3% higher. Many of the categories where prices increased the most—including car insurance, used cars, and recreation—are areas where prices reset in January. With inflation being higher these past few years, the size of the typical January reset has been larger. That means that even though these data are adjusted to account for typical seasonal patterns, the statistical adjustment has not yet caught up to recent patterns and is failing to account for all of the seasonal effects. Some of the outsized surprise in inflation today is real, but much of it will become less of an issue in the coming months.
The all-important shelter category ticked back up to 0.4% after having fallen to 0.3% in the last couple of months, but the increase was due to volatile hotel prices instead of rents. Shelter prices account for 42% of core CPI and, importantly, accounts for all of why inflation is not yet back at target. Market rents have been flat for years, but the official inflation statistics have yet to fully catch up. When they catch up will largely determine when inflation will be back at target, assuming other prices don’t accelerate. The recent drop in shelter inflation has been encouraging and today’s data indicates no further improvement, but also no deterioration in that progress.
Mortgage rates will increase today as investors now anticipate no more Fed rate cuts until the fall. Having already brought the Fed funds rate down from 5.5% to 4.5%, the Fed now has to feel around in the dark for where the neutral rate—which neither stimulates nor contracts the economy—is, because it is impossible to know where it is until you’ve run right into or past it. The Fed cannot risk accidentally cutting too much and stimulating the economy when inflation is a little too high, the labor market is strong, and the White House weighs inflationary policies. They would rather hold higher for longer than have to hike again after cutting.
February 12, 2025, by Chen Zhao

02/26/2025

[Video] That's an Anaconda. He's almost bigger than the house!
https://share.newsbreak.com/bqqyd13z

You have to be careful where you buy! Call me when you're ready to buy or sell in New York and New Jersey!!!

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02/26/2025

It's still the law!!!

02/26/2025

Hey everybody,
Just checking in to see how everyone is. Well yesterday as I was going on my merry way, I was stopped by a gentleman and asked "How's the market doing these days"? I ask them if they are buying or selling property? When they say "Just checking" I show them the stats. So if you are curious, here are the stats for this week. If you want more personalized information contact me, and we can explore your Real Estate needs!!
As of February 25, 2025, interest rates are as follows:
30-year fixed mortgage: 6.41% on average
15-year fixed mortgage: 5.77% on average
5-year ARM mortgage: 6.43% on average
Effective Federal Funds Rate: 4.33%
Factors that affect mortgage rates include:
Credit score, Down payment, Loan amount, Loan structure, Length of the loan, and Property location.
Refinancing considerations
Refinancing might be a good idea if rates have decreased since you first took out your mortgage. However, many homeowners locked in lower rates during the pandemic, so refinancing might not be worth it right now.
Tips for refinancing
Use an online mortgage calculator to see what might work for you
Shop around for the best rate
Pay down debt, including your current mortgage
Focus on improving your credit score

02/01/2025

The Typical Home Is Taking Nearly 2 Months to Sell. That’s The Slowest Pace in 5 Years. January 30, 2025, by Dana Anderson

There are more than five months of supply on the market, the most since early 2019. Homes are taking a long time to sell largely because housing costs are so expensive–but for buyers who can afford it, there are a fair amount of homes to choose from. Homes are selling at their slowest pace since the start of the pandemic, and fewer homes are turning over, as mortgage rates and home prices remain elevated.
This is according to Redfin data as of the four weeks ending January 26:
• The typical U.S. home listing that went under contract sat on the market for 54 days before the seller accepted an offer, the longest span since March 2020 and a week longer than this time last year. At this time in 2022, during the pandemic-driven homebuying boom, the typical home was selling in 35 days.

• There were 5.2 months of supply on the market, the most since February 2019 and up from 4.9 months a year earlier. Months of supply is the length of time it would take for the existing supply of homes to be bought up at the market’s current sales pace; a longer span means homes are sitting on the market longer and signals a buyer’s market.

• Pending home sales were down 9.4% year over year, the biggest decline since September 2023.

Sales are slow because it’s very expensive to buy a home, with mortgage rates sitting near 7% and home prices up 4.8% year over year. The median monthly housing payment is $2,753, just shy of April’s record high. Additionally, extreme weather–including snow and frigid cold in the Midwest, South and Northeast, and wildfires in Southern California–are keeping would-be buyers at home.
The market may pick up in the coming weeks as mortgage rates fall–at least slightly–from their early January peak, and new listings tick up. Additionally, Redfin agents expect some buyers to step off the sidelines soon as they get tired of waiting for rates and prices to come down.
“Prospective buyers have been cautious because they’ve seen homes sitting on the market and they’ve heard interest rates and prices may drop. When the market isn’t competitive, some buyers think they should wait for costs to go down,” said Jordan Hammond, a Redfin agent in Raleigh, N.C. “Now it’s pretty clear that sellers aren’t slashing asking prices and mortgage rates aren’t plummeting, so mindsets are shifting. People are starting to believe that if they want or need to move, and they can afford to, they should do it.”