The next downturn may be different than the last. Look to commercial real estate for clues about the direction of the economy. The U.S. gross domestic product contracted in the first quarter by 1.5%. The stock market has been tumbling. Inflation is stubbornly high. The Federal Reserve plans to continue raising interest rates. Pending home …
Tag: Real Estate
Feb 27
Jersey Shore / Sea Isle City Home – 3500 Boardwalk #924 N, Sea Isle City, NJ. 08243
3500 Boardwalk #924 N, Sea Isle City, NJ. 08243 Listing courtesy of Jennifer Denunzio – SEA ISLE REALTY $829,000 Est. Mortgage $5,971/mo*2 Beds2 Baths1050 Sq. Ft. Description about this home for sale at 3500 Boardwalk #924 N, Sea Isle City, NJ. 08243 Penthouse in the North Tower! Welcome to “The Spinnaker” condominium building, one of …
Feb 26
Dip in Mortgage Rates Little Consolation to Squeezed Buyers
Record-high home prices, declining consumer confidence and fears of recession are taking their toll on aspiring homeowners. With volatile mortgage rates driving home buyers from the market, economists are skeptical that a dip in borrowing costs this week will have a meaningful impact. The 30-year fixed-rate mortgage fell to an average of 5.3%—still nearly double …
Feb 26
Sea Isle City Home – 333 E 39th St. #1, Sea Isle City, NJ. 08243
333 E 39th St. #1, Sea Isle City, NJ. 08243 Listing courtesy of Mary Dorman – COASTAL ELITE REALTY $1,399,999 Est. Mortgage $8,688/mo*5 Beds4 Baths1984 Sq. Ft. Description about this home for sale at 333 E 39th St. #1, Sea Isle City, NJ. 08243 Welcome to your dream beach townhome which is located in a …
Feb 26
Jersey Shore / Sea Isle Home – 365 47th PL. Sea Isle City, NJ. 08243
365 47th PL. Sea Isle City, NJ. 08243 Listing courtesy of Marie Lepera – BHHS FOX and ROACH-Brigantine $3,150,000 Est. Mortgage $19,455/mo*Studio Description about this home for sale at 365 47th PL. Sea Isle City, NJ. 08243 NEW BAYFRONT BUILD-OUT OPPORTUNITY! Build your dream single family home or side-by-side townhome on this highly desirable lot …
Feb 23
Fed Rate Hike Unlikely to ‘Further Damage’ Mortgage Borrowers
The market has mostly priced in current and future Fed actions, so mortgage rates shouldn’t rise dramatically, says NAR Chief Economist Lawrence Yun. With skyrocketing inflation and mounting recession fears, the Federal Reserve made another aggressive move Wednesday, raising its benchmark rate by three-quarters of a percentage point for the second time this year to …
Feb 23
Market to Ease Despite High Home Prices
A housing slowdown precipitated by low inventory and rising mortgage rates will open opportunities for some buyers, NAR Chief Economist Lawrence Yun predicts. Even though national GDP contracted for the second quarter in a row and home sales have fallen for five straight months, property prices are likely to continue growing because of low inventory, …
Feb 23
Delco / Broomall Home – 20 Selwyn Dr. Broomall, PA. 19008
20 Selwyn Dr. Broomall, PA. 19008 Listing courtesy of Stephen Tallon – KW Greater West Chester $650,000 Est. Mortgage $4,529/mo*4 Beds3 Baths2426 Sq. Ft. Description about this home for sale at 20 Selwyn Dr. Broomall, PA. 19008 Welcome to 20 Selwyn Dr! Take advantage of the opportunity to make this colonial in a great sought …
Feb 22
Economic Downturn Likely to Be Mild
A contracting economy typically means a recession, but other economic indicators are likely to mitigate the effects of the slowing economy, says NAR’s chief economist. The country isn’t officially in a recession yet, despite two consecutive quarters of national contraction of the gross domestic product, a commonly cited indicator of an economic downturn, says Lawrence …
Feb 22
Buyers Get ‘A Second-Chance Opportunity
The average monthly mortgage payment has fallen 12% reduction in just two months as high borrowing costs moderate, says NAR Chief Economist. After weeks of escalating borrowing costs, home buyers are getting a second chance to lock in lower rates. The 30-year fixed-rate mortgage fell to an average just below 5% for the week ending …
Feb 22
Open House for Delco Home – 415 Eldon Dr. Broomall, Pa. 19008
415 Eldon Dr. Broomall, Pa. 19008 Listing courtesy of Kathleen A Carney – Compass RE Open House Sat 11 – 1 $499,999 Est. Mortgage $3,480/mo*3 Beds3 Baths1520 Sq. Ft. Description about this home for sale at 415 Eldon Dr. Broomall, Pa. 19008 Welcome to 415 Eldon Drive, an enchanting residence nestled in the heart of …
Feb 22
Broomall / Delco Home – 2588 Radcliffe Rd. Broomall, PA. 19008
2588 Radcliffe Rd. Broomall, PA. 19008 Listing courtesy of John Mcaleer – Keller Williams Main Line $575,000 Est. Mortgage $3,991/mo*5 beds2 Baths2449 Sq. Ft. Description about this home for sale at 2588 Radcliffe Rd. Broomall, PA. 19008 A rare find & fantastic opportunity for an owner occupant or investor to own a turn key income …
