Judy Cangemi Your Friend in Real Estate

Who you trust to get your house sold is an important decision in any market... yes, even a scorching hot seller’s market like we are experiencing now. A market like this might bring an abundance of good, qualified offers more quickly than other types of markets... but the only one that counts is the one that makes it to the closing table. It takes skill and experience to get it, protect it and close it all while providing fair and ethical treatment to all. I have it. And ov...er the last 18 years in real estate, I’ve established connections with other high caliber realtors all over the country so i can even help you get wherever you’re going with confidence and ease. If you’re thinking of making a move, talk to me first. I’ll give it to you straight so you can do what’s best for you. Call/Text Judy Cangemi Your Friend in Real Estate now 917-612-3592 FAIR HOUSING MAKES US STRONGER: https://www.dos.ny.gov/licensing//fairhousingnotice_new.pdf

Multigenerational Housing Is Gaining Momentum [INFOGRAPHIC] If your house is feeling a little cramped with the addition of adult children or aging parents, it might be time to consider a move-up into a multigenerational home that better suits your changing needs. With benefits that include a combined homebuying budget and shared caregiving duties, an increasing number of households are discovering the value of a multigenerational home. With such high demand for houses today, now is a great time to sell so you can upgrade to a multigenerational home that may better suit your evolving needs. Judy Cangemi Your Friend in RealEstate 917-612-3592

Don’t Sell on Your Own Just Because It’s a Sellers’ Market In a sellers’ market, some homeowners might be tempted to try to sell their house on their own (known as For Sale By Owner, or FSBO) instead of working with a trusted real estate professional. Let’s unpack why that’s a big mistake and may actually cost you more in the long run. According to the Profile of Home Buyers and Sellers published by the National Association of Realtors (NAR), 41% of homeowners who tried to se...ll their house as a FSBO did so to avoid paying a commission or fee. In reality, even in a sellers’ market, selling on your own likely means you’ll net a lower profit than when you sell with the help of an agent. The NAR report explains, FSBOs typically sell for less than the selling price of other homes; FSBO homes sold at a median of $217,900 in 2020 (up from $200,000 in 2019), and still far lower than the median... Judy Cangemi Your Friend in RealEstate 917-612-3592

Buyer Competition Is Good News for Sellers [INFOGRAPHIC] With so many buyers looking for homes to purchase and so few houses available today, there’s a substantial increase in bidding wars, and homes are selling fast. According to the latest Realtors Confidence Index Survey from the National Association of Realtors (NAR), on average, houses are receiving over four offers from buyers and they’re selling in less than three weeks. If you’re ready to make a move, let’s connect today so you can sell your house while the market is in your favor. Judy Cangemi Your Friend in RealEstate 917-612-3592

There’s No Reason To Panic Over Today's Lending Standards Today, some are afraid the real estate market is starting to look a lot like it did in 2006, just prior to the housing crash. One of the factors they’re pointing to is the availability of mortgage money. Let’s alleviate these concerns. the Mortgage Credit Availability Index stood at about 400 in 2004. Mortgage credit became more available as the housing market heated up, and then the index passed 850 in 2006. When the ...real estate market crashed, so did the MCAI (to below 100) as mortgage money became almost impossible to secure. Thankfully, lending standards have eased somewhat since. The index, however, is still below 150, which is about one-sixth of what it was in 2006. Why did the index rage out of control during the housing bubble? The main reason was the availability of loans with extremely weak lending standards. Lenders were approving loans without always going through a verification process to confirm if the borrower would likely be able to repay the loan. Some of these loans offered attractive, low interest rates that increased over time. The loans were popular because they could be obtained quickly and without the borrower having to provide documentation up front. However, as the rates increased, borrowers struggled to pay their mortgages. In 2006, lending standards were much more relaxed with little evaluation done to measure a borrower’s potential to repay their loan. Today, standards are tighter, and the risk is reduced for both lenders and borrowers. These are two very different housing markets, so there’s no need to panic over today’s lending standards. Judy Cangemi Your Friend in RealEstate 917-612-3592

Is Homeownership Still Considered Part of the American Dream? Since the birth of our nation, homeownership has always been considered a major piece of the American Dream. As Frederick Peters reports in Forbes: The idea of a place of one’s own drives the American story. We became a nation out of a desire to slip the bonds of Europe, which was still in many respects a collection of feudal societies. Old rich families, or the church, owned all the land and, with few exceptions,... everyone else was a tenant. The magic of America lay not only in its sense of opportunity, but also in the belief that life could in... Judy Cangemi Your Friend in RealEstate 917-612-3592

How a Change in Mortgage Rate Impacts Your Homebuying Budget Mortgage rates are on the rise this year, but they’re still incredibly low compared to the historic average. However, anytime there’s a change in the mortgage rate, it affects what you can afford to borrow when you’re buying a home. As Sam Khater, Chief Economist at Freddie Mac, shares: Since January, mortgage rates have increased half a percentage point from historic lows and home prices have risen, leaving potent...ial homebuyers with less purchasing power. (See graph below): When buying a home, it’s important to determine a monthly... Judy Cangemi Your Friend in RealEstate 917-612-3592

What It Means To Be in a Sellers’ Market If you’ve given even a casual thought to selling your house in the near future, this is the time to really think seriously about making a move. Here’s why this season is the ultimate sellers’ market and the optimal time to make sure your house is available for buyers who are looking for homes to purchase. The latest Existing Home Sales Report from The National Association of Realtors (NAR) shows the inventory of houses for sale is stil...l astonishingly low, sitting at just a 2-month supply at the current sales pace. Historically, a 6-month supply is... Judy Cangemi Your Friend in RealEstate 917-612-3592

2021 Real Estate Myth Buster [INFOGRAPHIC] Some Highlights There are a lot of misconceptions about buying or selling a home today, making it challenging to know exactly how to navigate the current real estate landscape.... Here’s a little clarity when it comes to 5 common myths about the 2021 housing market. Let’s connect to discuss your needs and so you can decipher facts from fiction in our local market. Judy Cangemi Your Friend in RealEstate 917-612-3592

Buyer & Seller Perks in Today’s Housing Market Right now, the housing market is full of outstanding opportunities for both buyers and sellers. Whether you’re thinking of buying your first home, moving up to a bigger one, or selling so you can downsize this spring, there are perks today that are powering big moves for people across the country. Here are the top two to keep on the radar this season. The Biggest Perk for Buyers: Low Mortgage Rates Today’s most compelling buyer ...incentive is low mortgage interest rates. The 30-year fixed-rate is now averaging just over 3%. While that’s slightly higher... Judy Cangemi Your Friend in RealEstate 917-612-3592

Why You Should Think About Listing Prices Like an Auction’s Reserve Price For generations, the homebuying process never really changed. The seller would try to estimate the market value of the home and tack on a little extra to give themselves some negotiating room. That figure would become the listing price of the house. Buyers would then try to determine how much less than the full price they could offer and still get the home. The asking price was generally the ceiling of the negotiation. The actual sales price would almost always be somewhat lower than the list price. It was unthinkable to pay more than... Judy Cangemi Your Friend in RealEstate 917-612-3592

Should We Fear the Surge in Cash-Out Refinances? Freddie Mac recently released their Quarterly Refinance Statistics report which covers refinances through 2020. The report explains that the dollar amount of cash-out refinances was greater in 2020 than in recent years. A cash-out refinance, as defined by Investopia, is: a mortgage refinancing option in which an old mortgage is replaced for a new one with a larger amount than owed on the previously existing loan, helping borro...wers use their home mortgage to get some cash. The Freddie Mac report led to articles like the one published by The Real Deal... Judy Cangemi Your Friend in RealEstate 917-612-3592

4 Reasons People Are Buying Homes in 2021 According to many experts, the real estate market is expected to continue growing in 2021, and it’s largely driven by the lasting impact the pandemic is having on our lifestyles. As many of us spend extra time at home, we’re reevaluating what home means and what we may need in one going forward. Here are 4 reasons people are reconsidering where they live and why they’re expecting to buy a home this year. ... 1. Record-Low Mortgage Interest Rates In 2020, the average interest rate for a 30-year fixed mortgage hit a record low 16 times, continuing to fall... Judy Cangemi Your Friend in RealEstate 917-612-3592

What Does 2021 Have in Store for Home Values? According to the latest CoreLogic Home Price Insights Report, nationwide home values increased by 8.2% over the last twelve months. The dramatic rise was brought about as the inventory of homes for sale reached historic lows at the same time buyer demand was buoyed by record-low mortgage rates. As CoreLogic explained: Home price growth remained consistently elevated throughout 2020. Home sales for the year are expected to registe...r above 2019 levels. Meanwhile, the availability of for-sale homes has dwindled as demand increased and coronavirus (COVID-19) outbreaks... Judy Cangemi Your Friend in RealEstate 917-612-3592

Reasons to Hire a Real Estate Professional [INFOGRAPHIC] Some Highlights Choosing the right real estate professional to work with is one of the most important decisions you can make in your homebuying or selling process.... The right agent can explain current market conditions and break down exactly what they mean for you. If you’re considering buying or selling a home this year, let’s connect so you can work with someone who has the experience to answer all of your questions about pricing, contracts, negotiations, and more. Judy Cangemi Your Friend in RealEstate 917-612-3592

Is This the Year to Sell My House? If one of the questions you’re asking yourself is, Should I sell my house this year? consumer sentiment about selling today should boost your confidence in the right direction. Even with the current health crisis that continues to challenge our nation, Americans still feel good about selling a house. Here’s why. According to the latest Home Purchase Sentiment Index from Fannie Mae, 57% of consumer respondents to their survey indicate now i...s a good time to buy a home, while 59% feel it’s a good time to sell one: The percentage of respondents who say it is a... Judy Cangemi Your Friend in RealEstate 917-612-3592

The Importance of Home Equity in Building Wealth Homeownership has always been the first rung on the ladder leading to household wealth. As Freddie Mac recently posted: Homeownership has cemented its role as part of the American Dream, providing families with a place that is their own and an avenue for building wealth over time. This ‘wealth’ is built, in large part, through the creation of equityBuilding equity through your monthly principal payments and appreciation is a ...critical part of homeownership that can help you create financial stability. Home equity is the difference between the current... Judy Cangemi Your Friend in RealEstate 917-612-3592

Why Not to Wait Until Spring to Make a Move The housing market recovery coming into the new year has been nothing short of remarkable. Many experts agree the turnaround from the nation’s economic pause is playing out extremely well for real estate, and the current market conditions are truly making this winter an ideal time to make a move. Here’s a dive into some of the biggest wins for homebuyers this season. 1. Mortgage Rates Are Historically Low In 2020, mortgage rates hit... all-time lows 16 times. Continued low rates have set buyers up for significant long-term gains. In fact, realtor.com... Judy Cangemi Your Friend in RealEstate 917-612-3592