Lisa Lazarus, Real Estate

03/14/2024

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03/14/2024

03/14/2024

Posted • Factors beyond high mortgage rates are affecting housing affordability for many Americans, according to experts.

Almost four years ago, a household earning $59,000 annually could afford a new mortgage without spending more than 30% of their monthly income and with a 10% down payment, according to a recent report by Zillow Group.

That is no longer the case today.

While the typical household in 2024 makes about $81,000 a year, up from $66,000 in 2020, wages have not kept up with housing costs.

“Since January of 2020, the typical mortgage payment on the typical home in the U.S. has nearly doubled,” said Orphe Divounguy, a senior economist at Zillow.

Nowadays, potential homebuyers need to make about $106,500 a year in order to afford the typical home today, an 80% increase from January 2020, according to Zillow.

Details on what factors are affecting housing affordability at the link in bio.

03/11/2024

It’s - inventory is still LOW, demand is still HIGH. While there has been a slight seasonal uptick in inventory, we are likely to see low inventory for the remainder of the year. Why? Because we not only have more buyers than sellers, but also more buyers than housing stock! Population and migration impacts housing markets differently and in CT, our population has grown and we just don’t have enough homes. Most importantly, we don’t have enough affordable homes.

Our Legislators are working on many housing, planning and development bills. Two could have a major impact on our housing supply and rental and purchase prices! Let’s connect to discuss how the political and economic climate may impact your real estate purchasing power and housing goals!

03/01/2024

FOR LEASE: West End – Hartford, CT
6,000 sqft of subdividable office space. Modified gross lease.

02/28/2024

02/26/2024

As a former educator and professional consultant, I am client-focused not transaction-focused. I enjoy talking to clients about their goals, local market conditions and financing resources available to them.

This week there hasn’t been much change in inventory or sale prices. It is still a seller’s market. If you’re feeling discouraged or priced out, then consider pivoting. Change your strategy, expand your geographic search area, or reevaluate your preferences.

Shifting strategies may cause you to explore alternative types of financing. Loans can be a great way to help your offer stand out in this competitive market.

Contact me to learn more!

02/21/2024

❗POP QUIZ❗
Do you know how much the average home is going for in your neighborhood?
If you don’t, that’s what I’m here for! As your local real estate expert, I know how much homes are selling for and how fast they are selling, and I’d love to talk to you about it. Shoot me a DM if you’re interested in learning the ins and outs of your market.

02/20/2024

02/20/2024