New-Home Sales Plummet as Rising Costs Sideline More Buyers Just a year ago, homebuilders were overflowing with new contracts and, at times, raffling off their few remaining lots to wait-listed buyers. But since then, buyer traffic has slowed significantly as costs have soared. Rising mortgage rates and high inflation have crashed the homebuilding party. New-home …
Tag: Anthony DiDonato
Sep 06
Jersey Shore / Sea Isle City Home – 235-235 W 38th St. Sea Isle City, NJ. 08243
Listing courtesy of Frank Preto – EXP Realty, LLC $899,000 Est. Mortgage $5,663/mo*4 Beds2 Baths1332 Sq. Ft. Description About this home for sale at 235-235 W 38th St. Sea Isle City, NJ. 08243 One-of-a-kind Sea Isle townhome offers appealing spacious layout and attractive new upgrades. First floor includes 2 bedrooms with individual climate control and …
Sep 02
Homes Haven’t Been This Unaffordable Since 1989
Homes Haven’t Been This Unaffordable Since 1989 The average monthly mortgage payment jumped 54% year over year in June while the median household income rose only 5.8%, according to the National Association of REALTORS®’ Housing Affordability Index. As home affordability weakened and the median home price shot to a record $413,800 in June, NAR’s index …
Sep 02
Mortgage Rates Settle In the 5% Range
Mortgage Rates Settle In the 5% Range Mortgage rates appear to be settling in the 5% range after recent dramatic climbs that shocked home buyers. The 30-year fixed-rate mortgage averaged 5.13% this week, down slightly from its 5.22% average a week ago, Freddie Mac reports. Mortgage rates peaked at 6% in early June, which prompted …
Sep 01
Avalon / Jersey Shore Home – 4028 Ocean Drive #2, Avalon, NJ. 08202
Listing courtesy of Ann Delaney – Tim Kerr Sotheby’s International Realty $1,295,000 Original price: $1,325,000Est. Mortgage $7,274/mo*3 Beds2 Baths 1092 Sq. Ft. Description about this home for sale at 4028 Ocean Drive #2, Avalon, NJ. 08202 A beautiful wide beach awaits just 2 blocks away from this completely renovated 2nd floor unit. 3 bedroom, 1.5 …
Sep 01
Jersey Shore / Avalon Home – 2310 Dune Dr. Avalon, NJ. 08202
Listing courtesy of Janet Bogorowski – COMPASS RE – AV Dune $1,675,000 Est. Mortgage $9,912/mo*3 Beds3 Baths1688 Sq. Ft. Description about this home for sale at 2310 Dune Dr. Avalon, NJ. 08202 Luxury living in the heart of Avalon! Fabulous three-bedroom, three-bathroom two-story townhome style condominium within walking distance of shopping, dining, beaches and bay. …
Aug 31
Mortgage Rates Rocket Back Above 5%, But Market ‘Stabilizing’
Mortgage Rates Rocket Back Above 5%, But Market ‘Stabilizing’ Home buyers are having difficulty gauging opportunities to save on a property purchase as mortgage rates become more volatile. The average for the 30-year fixed-rate mortgage swung above 5% again this week, clocking in at 5.22%, Freddie Mac reports. Last week, the average for the 30-year …
Aug 31
Vulnerability to a Cyberattack Could Land You in Court
Vulnerability to a Cyberattack Could Land You in Court You’re putting your livelihood at risk if you’re “asleep at the wheel” when it comes to creating a data security plan, especially as the real estate industry faces growing cyberthreats, says Maame Nyamekye, staff attorney at the National Association of REALTORS®, in NAR’s latest “Window to …
Aug 30
Delaware County / Media PA. Home – 552 Old Forge Rd #2, Media, PA. 19063
Listing courtesy of Gary Scheivert – BHHS Fox & Roach-Media $1,150,000 Est. Mortgage $7,290/mo*4 Beds4 Baths3680 Sq. Ft. Description about this home for sale at 552 Old Forge Rd #2, Media, PA. 19063 Presenting “Arbor Preserve” by MB Homebuilders, an unparalleled level of quality and craftsmanship by Michael Iacobucci. To be built, The Essex model …
Aug 30
Inventory Issues Block Foreign Investors
Inventory Issues Block Foreign Investors Worsening housing affordability and stubborn inventory shortages are not only pushing more Americans out of the real estate market but also blocking many foreign investors from purchasing homes in the U.S., according to the National Association of REALTORS®’ newly released 2022 Profile of International Transactions in U.S. Residential Real Estate. …
Aug 30
Volatility in Mortgage Rates as Recession Fears Grow
Volatility in Mortgage Rates as Recession Fears Grow Mortgage rates are showing volatility as the economy slows and recession fears take center stage. The 30-year fixed-rate mortgage rose to an average of 5.51% this week, up from 5.3% last week, according to Freddie Mac. Home buyers are facing rising costs across the spectrum. Inflation shot …
Aug 29
Jersey Shore / Sea Isle City Home – 115 & ST #c38-B, Sea Isle City, NJ. 08234
Listing courtesy of John Digenni – BHHS FOX and ROACH-Sea Isle City $1,300,000 Est. Mortgage $7,353/mo*6 Beds3 Baths Description about this home for sale at 115 & ST #c38-B, Sea Isle City, NJ. 08234 2 units being offered together or individually. MLS#222660 and MLS#222661 Fabulous Downtown Location! Are you looking to buy on the island? …
