Eileen M. Murphy - Real Estate Associate Broker

08/15/2023

How to avoid capital gains tax on real estate
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When selling real estate, it is important to understand the potential tax burden as the IRS may be entitled to a share of your earnings. If you are selling your primary residence, you may be able to take advantage of the capital gains exclusion, allowing you to exclude some of your profits from taxa...

08/12/2023

New York home sales plunge more than 22 percent in June
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The June report from the New York Association of Realtors (NYSAR) revealed that existing home sales decreased by 22.2% from the previous year, with pending sales also dropping by 6.2%. The monthly average on a 30-year fixed rate mortgage rose from 6.43% in May to 6.71% in June, according to Freddie....

08/02/2023

What Is a Home Equity Agreement?
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Home equity agreements provide an alternative to traditional borrowing methods such as home equity loans and refinancing a mortgage. Through a lien on the home, a homeowner can receive a lump sum of cash in exchange for a percentage of the home's appreciated value. There are no interest rates, but t...

07/25/2023

Find out if it's time to sell your home
How much is your home worth? Type your property address and get a quick home estimate.

How much is your home worth? Type your property address and get a quick home estimate.

07/17/2023

Reasons to Invest in Real Estate During an Economic Downturn

Eileen M Murphy RE Assoc Brkr is a real estate agent with Re/Max Distinguished Homes. Check out Eileen M Murphy RE Assoc Brkr's listings or office listings.

07/16/2023

Has Commercial Real Estate Bottomed In New York?
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The commercial real estate industry has been heavily affected by the COVID-19 pandemic, with the value of commercial real estate plummeting due to fewer occupants and too much empty space. Prices for some of the best addresses in the world have dropped significantly, but a recent US$2 billion sale o...

07/08/2023

270-unit multifamily project proposed in Borough Park
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The Borough Park community in South Brooklyn is in need of affordable housing. Developer Meir David Tabak has proposed a 14-building complex with 270 units, 81 of which are designated for affordable housing, and 63,000 square feet of commercial space. Nearly 44 percent of renters in the area are sev...

06/20/2023

Ask Me Anything!
Have questions about real estate but not sure where to start?

Have questions about real estate but not sure where to start?

06/14/2023

The latest mortgage rates are now 7.18%
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On Wednesday, May 31, US mortgage rates were down from the previous day and the same time last week, according to Bankrate. The average rate for 30-year fixed-rate mortgages was 7.18%, 15-year fixed-rate mortgages was 6.61%, and 5/1 adjustable-rate mortgages was 6.03%. Rates for jumbo mortgages, FHA...

06/11/2023

NYC Commercial Real Estate Market Hits All-Time Low
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In the first quarter of 2023, commercial real estate brokers in New York City had the lowest confidence in the market since 2017 due to high interest rates, a tough lending environment, and low office occupancy. Residential brokers were less gloomy and their confidence in the market increased due to...

06/03/2023

NY Fed: Mortgage Originations Dropped, Debt Delinquencies Rose in Q1
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