Recalde Real Estate

Charismatic Licensed Real Estate Salesperson Brings Unparalleled NYC Knowledge and High-Quality Service to Nest Seekers International. https://recalderealestate.com/

The Top Reasons People Are Moving This Year Today, Americans are moving for a variety of different reasons. The current health crisis has truly re-shaped our lifestyles and our needs. Spending extra time where we currently live is enabling many families to re-evaluate what homeownership means. And it also re-evaluate what they find most important in a home. According to Zillow:...Continue reading

If Americans fully understand their options and make good choices regarding those options, the current economic slowdown does not need to lead to mass foreclosures.

An economic recovery is beginning to happen throughout the country. While there are still questions that need to be answered about the road ahead, we can expect to see improvement this quarter.

If you’re thinking of making a move, now is a great time to take advantage of the affordability that comes with such low mortgage rates. Whether you’re thinking of purchasing your first home or moving into a new one and securing a significantly lower mortgage rate than you may have on your current house, let’s connect today to determine your next steps in the process

Homeowners today have many options to avoid foreclosure, and equity is surely helping to keep many afloat. Even if today’s rate of foreclosures doubles, it will still only hit a mark that is more in line with a historically normalized range, a very good sign for homeowners and the housing market.

Whether you’re thinking about buying or selling at home, there are some key perks available right now. Let’s connect today to discuss how they may play to your advantage in our local market.

We should remain cautious in our optimism, as the recovery is ultimately tied to our future success in mitigating the ongoing health crisis. However, as Mike Fratantoni, Chief Economist for the Mortgage Bankers Association, reminds us: The pace of job growth slowed in July, but the gains over the past three months represent an impressive rebound during the ongoing economic challenges brought forth by the pandemic.

Today’s buyers are serious ones and more millennials are helping to fuel that charge. So, if you’re considering selling your home, let’s connect today to determine your next steps in the process while buyers are actively looking.

The experts seem to agree that residential real estate is doing remarkably well. If you’re thinking of jumping into the housing market (whether buying or selling), this may be the perfect time.

The housing market is forecasted to finish the year with growing strength. Historically low mortgage rates are creating great potential for homebuyers, and home sales are on the rise. If you’re thinking of buying or selling a home this year, let’s connect to maximize your opportunity today

Early data is showing a shift from urban to suburban markets, but keeping an eye on this trend will help us understand how it will ultimately play out. It may just be a temporary swing in a new direction until Americans once again feel a sense of comfort in the cities they’ve grown to love

If you’re interested in purchasing a home and need help getting started, let’s connect today so you can take advantage of the support available to guide you through each step of the way.

Real estate brokers, home builders, and industry data all agree that the housing market has surged back to pre-COVID levels, showing growth, strength, and incredible resilience

Buyers returning to the market is a great sign for the economy, as housing is still leading the way toward a recovery. If you’re ready to buy a home this year, let’s connect to make sure you have the best possible guide with you each step of the way

Many think we may see a rush of foreclosures this fall, but the facts just don’t add up in this case. Today’s real estate market is very different from 2008 when we saw many homeowners walk away when they owed more than their homes were worth. This time, equity is stronger and plans are in place to help those affected weather the storm.

Does Your Home Have What Buyers Are Looking For? There’s great opportunity for today’s homeowners to sell their houses and make a move, yet due to the impact of the ongoing health crisis, some sellers are taking their time coming back to the market. According to Javier Vivas, Director of Economic Research at realtor.com: Sellers continue returning to the market at a cautious pace and further improvement could be constrained by lingering coronavirus concerns, economic uncerta...Continue reading

Mortgage Rates Hit Record Lows for Three Consecutive Weeks... Over the past several weeks, Freddie Mac has reported the average 30-year fixed mortgage rate dropping to record lows, all the way down to 3.03%. Last week’s reported rate reached the lowest point in the history of the survey, which dates back to 1971 (See graph below):Mortgage Rates Hit Record Lows for Three Consecutive Weeks | What does this mean for buyers?... This is huge for homebuyers. Those currently taking advantage of the increasing affordability that comes with historically low interest rates are winning big. According to Sam Khater, Chief Economist at Freddie Mac: The summer is heating up as record low mortgage rates continue to spur homebuyer demand. In addition, move.com notes: Summer home buying season is off to a roaring start. As buyers flooded into the market, realtor.com monthly traffic hit an all-time high of 86 million unique users in June 2020, breaking May’s record of 85 million unique users. Realtor.com daily traffic also hit its highest level ever of 7 million unique users on June 25, signaling that despite the global pandemic buyers are ready to make a purchase. Clearly, buyers are capitalizing on today’s low rates. As shown in the chart below, the average monthly mortgage payment decreases significantly when rates are as low as they are today.Mortgage Rates Hit Record Lows for Three Consecutive Weeks | lower monthly payment means savings that can add up significantly over the life of a home loan. It also means that qualified buyers may be able to purchase more home for their money. Maybe that’s a bigger home than what they’d be able to afford at a higher rate, an increasingly desirable option considering the amount of time families are now spending at home given today’s health crisis. Bottom Line If you’re in a position to buy a home this year, let’s connect to initiate the process while mortgage rates are historically low.

What Are Experts Saying about Home Prices? Last week, a very well-respected real estate analytics firm surprised many with their home price projection for the next twelve months. CoreLogic, in their latest Home Price Index said: The economic downturn that started in March 2020 is predicted to cause a 6.6% drop in the HPI by May 2021, which would be the first decrease in annual home prices in over 9 years.... The forecast was surprising as it was strikingly different than any other projection by major analysts. Six of the other eight forecasts call for appreciation, and the two who project depreciation indicate it will be one percent or less. Here is a graph showing all of the projections:What Are Experts Saying about Home Prices? | MyKCMThere’s a simple formula to determine the future price of any item: calculate the supply of that item in ratio to the demand for that item. In housing right now, demand far exceeds supply. Last week mortgage applications to buy a home were 33% higher than they were at the same time last year. The available inventory of homes for sale is 31% lower than it was last year. Normally, these numbers should call for homes to continue to appreciate. Bottom Line Because of the uncertainty with the pandemic, any economic prediction is extremely difficult. However, looking at the limited supply of homes for sale and the tremendous demand for housing, it is difficult to disagree with the majority of analysts who are calling for price appreciation.

Buyers: Are You Ready for a Bidding War? With businesses reopening throughout the country and some experts indicating early signs of a much-anticipated economic recovery, more homebuyers are actively entering the housing market this summer. Today, housing is truly driving the U.S. economy forward. With so many buyers looking for homes to purchase and so few houses for sale right now, there’s a disconnect between supply and demand. This imbalance is pushing home prices upward ...while driving more bidding wars and multiple-offer scenarios. Danielle Hale, Chief Economist at realtor.com explains: People are surprised that prices are rising, not falling, because in the last recession home prices fell, the difference this time is the severe shortage of homes for saleWe are seeing bigger price increases with [a limited] number of homesThat is likely to lead to more competition and potentially multiple offers and bidding wars. According to the recent Realtors Confidence Index (RCI) survey conducted by the National Association of Realtors (NAR), this trend is growing: On average, there were about three offers on a home that closed in May, up from just about two in April 2020 and in May 2019 (2.3 offers). HousingWire also indicates: 42% of homeowners who made a purchase during the January to May time period ended up in a bidding war, demonstrating the strong demand for homes amid low inventory. With more people returning to work we’ll continue to see the number of interested buyers increase. So, if you’re among the many people looking for a home to buy this summer, it’s important to ensure you have the right guidance from the start. This way, you make sure your offer stands out from the crowd when it really counts. Here are two tips to follow. 1. Hire a Trusted Local Expert A trusted local real estate professional matters more than ever right now, as noted in a recent survey shared by NAR. In fact, according to respondents, 54% of buyers and 62% of sellers indicated that Particularly during the pandemic, a real estate agent’s guidance is especially valued. We’re not in a normal market. We are in one of the greatest health crises our nation has ever seen. The pandemic has had a dramatic impact on the journey consumers must take to purchase a home. To successfully navigate the landscape today, you need a true expert on your side. 2. Get Pre-Approved for a Mortgage When there are more buyers than sellers on the market, the process to find a home becomes much more challenging. One way to show you’re serious about buying a home is to work with a lender to get pre-approved for a mortgage before starting your search. With a pre-approval letter, sellers will see your true desire to buy this year, potentially helping your offer rise to the top. Bottom Line If this is the year you’re ready to buy, let’s connect to get the process started so you can make sure your offer is a strong one when the competition heats up.

Not All Agents Are Created Equal In today’s fast-paced world where answers are just a Google search away, there are some who may question the benefits of hiring a real estate professional when selling a house. The reality is, the addition of more information can lead to more confusion. A real estate agent can be your essential guide, but truth be told, not all agents are created equal. Finding the right agent for you and your family should be your top priority when you’re rea...Continue reading

Best Time to Sell? When Competition Is at an All-Time Low In a recent survey of home sellers by Qualtrics, 87% of respondents said they were concerned their home won’t sell because of the pandemic and resulting economic recession. Of the respondents, 51% said they are seriously worried. That concern seems reasonable considering the current condition of the economy. The data, however, is showing that home purchasers are still very active despite the disruptions American fami...lies have experienced this year. The latest Existing Home Sales Report published by the National Association of Realtors (NAR) revealed that 340,000 single-family homes sold in this country last month. NAR’s most recent Pending Sales Report (homes going into contract) surpassed last month’s number by over 44%, which far exceeded analysts’ projections of 15%. ShowingTime reported that appointments to see homes (both virtually and in-person) have increased in every region of the country and are up 21.4% nationwide over the same time last year. While buyer activity is surging, the number of listings has fallen to an all-time low. Zelman Associates, in their latest residential real estate report, revealed that housing inventory as a percentage of households has fallen to 1.2%, which is half of the long-term average and lower than any other time in our history. Bidding Wars Heating Up Again With buyer demand growing and the supply of available homes shrinking, purchasers are again finding themselves needing to outbid other buyers. NAR, in a recent blog post, revealed: On average, there were about three offers on a home that closed in May, up from just about two in April 2020 and in May 2019 (2.3 offers). Bidding wars guarantee houses sell quickly at a price near or even slightly over the listing price. Bottom Line If you’re thinking of selling, don’t be concerned about putting your house on the market right now. There’s no better time to sell an item than when demand for it is high and supply is low. It is exactly at that time when you will negotiate your best possible deal.

Taking Advantage of Homebuying Affordability in Today’s Market Everyone is ready to buy a home at different times in their lives, and despite the health crisis, today is no exception. Understanding how affordability works and the main market factors that impact it may help those who are ready to buy a home narrow down their optimal window of time to make a purchase. There are three main factors that go into determining how affordable homes are for buyers:... Mortgage Rates Mortgage Payments as a Percentage of Income Home Prices The National Association of Realtors (NAR), produces a Housing Affordability Index, which takes these three factors into account and determines an overall affordability score for housing. According to NAR, the index: measures whether or not a typical family earns enough income to qualify for a mortgage loan on a typical home at the national and regional levels based on the most recent price and income data. Their methodology states: To interpret the indices, a value of 100 means that a family with the median income has exactly enough income to qualify for a mortgage on a median-priced home. An index above 100 signifies that family earning the median income has more than enough income to qualify for a mortgage loan on a median-priced home, assuming a 20 percent down payment. So, the higher the index, the more affordable it is to purchase a home. Here’s a graph of the index going back to 1990:Taking Advantage of Homebuying Affordability in Today’s Market | MyKCMThe green bar represents today’s affordability. We can see that homes are more affordable now than they have been at any point since the housing crash when distressed properties (foreclosures and short sales) dominated the market. Those properties were sold at large discounts not seen before in the housing market. Why are homes so affordable today? Although there are three factors that drive the overall equation, the one that’s playing the largest part in today’s homebuying affordability is historically low mortgage rates. Based on this primary factor, we can see that it is more affordable to buy a home today than at any time in the last seven years. If you’re considering purchasing your first home or moving up to the one you’ve always hoped for, it’s important to understand how affordability plays into the overall cost of your home. With that in mind, buying while mortgage rates are as low as they are now may save you quite a bit of money over the life of your home loan. Bottom Line If you feel ready to buy, purchasing a home this season may save you significantly over time based on historic affordability trends. Let’s connect today to determine if now is the right time for you to make your move. Latest Unemployment Report: Great Newsfor the Most Part

America Is Another Name for Opportunity!!!

Is the Health Crisis Driving Buyers Out of Urban Areas? The pandemic has caused consumers to re-examine the components that make up the perfect home. Many families are no longer comfortable with the locations and layouts of their existing homes. The allure of city life (more congested) seems to be giving way to either suburban or rural life (less congested). The fascination with an open floor plan seems to be fading as people are finding a need for more privacy while workin...g from home. Recently, news.com released a report that revealed how buyers’ views of listings are leaning heavily to more suburban and rural properties. Here are the year-over-year percentage increases in views per property type: Urban 7% Suburban 13% Rural 16% In the report, Javier Vivas, Director of Economic Research for realtor.com, gives these numbers some context: This migration to the suburbs is not a new trend, but it has become more pronounced. After several months of shelter-in-place orders, the desire to have more space and the potential for more people to work remotely are likely two of the factors contributing to the popularity of the burbs. Realtor Magazine also just reported that the desire to move is strongest in our city markets: Nearly 30% of respondents living in a high-density urban area say that the pandemic is prompting them to want to move by the end of the yearThis is more than double the rate of those living in rural parts of the country, where residents are much more likely to stay put rather than to relocate. New Construction Also Seeing a Surge in Views Since the pandemic has altered how consumers think about floor plans, builders are anticipating how future homes will change. In a recent press release by Zillow, it was explained that: Builders believe as people spend more time at home during the pandemic, buyers are realizing which features of their homes are working and not working. Homebuilders predict open-concept floor plans will be a thing of the past, as people now value more walls, doors, and overall privacy. New construction, which offers the chance to personalize home features, saw its listing page views grow by 73% over last May. The Virus is Even Impacting the Luxury Second-Home Market It appears that COVID-19 is impacting the luxury market too. In an article released last week titled, Luxury Buyers Return to Market in Force, Danielle Hale, Chief Economist for realtor.com reported: Stay at home orders and social distancing have put a new value on the extra space. We’re seeing this in the luxury market as well, which could mean there is renewed interest from high-end buyers to find a second-home that is within driving distance from their primary residence. Much like the suburbs are gaining favor with home shoppers, second home markets are seeing increased interest from luxury buyersViews of luxury properties accelerated 56% in The Hamptons, 28% in Palm Springs and 24% in Greenwich compared to January trends.

One of the biggest questions on everyone’s minds these days is: What’s going to happen to the housing market in the second half of the year? Based on recent data on the economy, unemployment, real estate, and more, many economists are revising their forecasts for the remainder of 2020 and the outlook is extremely encouraging. Here’s a look at what some experts have to say about key areas that will power the industry and the economy forward this year. Mortgage Purchase Origi...nations: Joel Kan, Associate Vice President of Economic and Industry Forecasting, Mortgage Bankers Association The recovery in housing is happening faster than expected. We anticipated a drop off in Q3. But, we don’t think that’s the case anymore. We revised our Q3 numbers higher. Before, we predicted a 2 percent decline in purchase originations in 2020, now we think there will be 2 percent growth this year. Home Sales: Lawrence Yun, Chief Economist, National Association of Realtors Sales completed in May reflect contract signings in March and April during the strictest times of the pandemic lock down and hence the cyclical low pointHome sales will surely rise in the upcoming months with the economy reopening, and could even surpass one-year-ago figures in the second half of the year. Inventory: George Ratiu, Senior Economist, realtor.com We can project that the next few months will see a slow-yet-steady improvement in new inventorywe projected a stepped improvement for the May through August months, followed by a return to historical trend for the September through December time frame. Mortgage Rates: Freddie Mac Going forward, we forecast the 30-year fixed-rate mortgage to remain low, falling to a yearly average of 3.4% in 2020 and 3.2% in 2021. New Construction: Doug Duncan, Chief Economist, Fannie Mae The weaker-than-expected single-family starts number may be a matter of timing, as single-family permits jumped by a stronger 11.9 percent. In addition, the number of authorized single-family units not yet started rose 5.4 percent to the second-highest level since 2008. This suggests that a significant acceleration in new construction will likely occur. Bottom Line The experts are optimistic about the second half of the year. If you paused your 2020 real estate plans this spring, let’s connect today to determine how you can re-engage in the process.

According to a survey by Concentrix Analytics, the emotional benefits of homeownership seem to carry more weight than overall bottom-line dollars and cents. Not only is a home the most preferred financial investment for Americans, it’s most importantly an emotional win for you and your family. DM me if homeownership is on your wish list this year. #nationalhomeownershipmonth #firsttimehomebuyer #opportunity #housingmarket #househunting #makememove #homegoals #houseshopping #housegoals #starterhome #dreamhome #curbappeal #realestate #housingmarket #selfimprovement

What Are the Experts Saying About Future Home Prices? A worldwide pandemic and an economic recession have had a tremendous effect on the nation. The uncertainty brought about by both has made predicting consumer behavior nearly impossible. For that reason, forecasting home prices has become extremely difficult. Normally, there’s a simple formula to determine the future price of any item: calculate the supply of that item in ratio to the demand for that item. In housing right ...now, demand far exceeds supply. Mortgage applications to buy a home just rose to the highest level in 11 years while inventory of homes for sale is at (or near) an all-time low. That would usually indicate strong appreciation for home values as we move throughout the year. Some experts, however, are not convinced the current rush of purchasers is sustainable. Ralph McLaughlin, Chief Economist at Haus, explained in their June 2020 Hausing Market Forecast why there is concern: The upswing that we’ll see this summer is a result of pent-up demand from homebuyers and supply-in-progress from homebuilders that has simply been pushed off a few months. However, after this pent-up demand goes away, the true economic scarring due to the pandemic will begin to affect the housing market as the tide of pent-up demand goes out. The virus and other challenges currently impacting the industry have created a wide range of thoughts regarding the future of home prices. Here’s a list of analysts and their projections, from the lowest depreciation to the highest appreciation: CoreLogic: Year-Over-Year decline of -1.5% Haus: Year-Over-Year decline of -1% Zillow: Year-Over-Year change is forecasted to bottom out at -0.7%. Home Price Expectation Survey: Decline of -0.3% in 2020 Fannie Mae: Increase of 0.4% in 2020 Freddie Mac: Increase of 2.3% in 2020 Zelman & Associates: Increase of 3.0% in 2020 National Association of Realtors: Increase of 3.8% in 2020 Mortgage Bankers Association: Increase of 4.0% in 2020 We can garner two important points from this list: There is no real consensus among the experts. No one projects prices to crash like they did in 2008. Bottom Line Whether you’re thinking of buying a home or selling your house, know that home prices will not change dramatically this year, even with all of the uncertainty we’ve faced in 2020.

According to Frank Martell, President and CEO of CoreLogic, housing is positioned to be a leading driver in our economic recovery. He says: Tight supply and pent-up demand, particularly among millennials, provides optimism for a bounce-back in the housing market purchase activity and home prices over the medium term. The next 12 to 18 months are going to be very tough times for the broader economy. As employment and economic activity begin to pick up, as it will surely do, w...e expect housing to be a driver in a national recovery. DM me your questions about buying or selling a home in today’s market, so you’re positioned for success this year. #economicrecovery #expertquote #CoreLogic #realestate #homeownership #homebuying #realestategoals #realestateexpert #realestateagents #instarealestate #instarealtor #realestatetipsoftheday #realestatetipsandadvice #recession2020

As buyers begin to return to the housing market, the lack of homes for sale is becoming more and more apparent. Buyer demand is a driving force behind home price appreciation, which is great news if you’re getting ready to sell your house. DM me so we can plan the best way for you to move forward with your housing goals this year. #housingmarket #supplyanddemand #housinginventory #househunting #makememove #homegoals #houseshopping #housegoals #sellyourhouse #realestatetips #realestatelife #realestateagent #realestateexpert #realestateagency #keepingcurrentmatters

Are you ready to buy?

When you’re ready to buy, homeownership is an incredibly sound investment in your financial future. DM me about your homeownership goals so we can begin planning your family’s move toward a growing net worth this year. #networth #nationalhomeownershipmonth #firsttimehomebuyer #opportunity #housingmarket #househunting #makememove #homegoals #houseshopping #housegoals #locationlocationlocation #starterhome #dreamhome #curbappeal #keepingcurrentmatters

Are you ready for the summer housing demand . . . .... . . . . #Sellyourhouse #moveuphome #dreamhome #realestate #homeownership #realestategoals #realestatetips #realestatelife #realestatenews #realestateagent #realestateexpert #realestateagency #realestatetipsandadvice #justsold

If you’re ready to sell your house this summer, let’s connect today. Buyers are interested and they may be looking for a house just like yours. #Sellyourhouse #moveuphome #dreamhome #realestate #homeownership #realestategoals #realestatetips #realestatelife #realestatenews #realestateagent #realestateexpert #realestateagency #realestatetipsandadvice #justsold #keepingcurrentmatters

Yes we are now officially in a recession. However, unlike 2008, this time the housing industry is in much better shape to weather the storm. . . . .... #realestateagent #realestatebroker #realestatesalesperson #nycapartments See more

Yes, we are now officially in a recession. However, unlike 2008, this time the housing industry is in much better shape to weather the storm.

The Financial District.

Real estate will lead the way. . . . .... . . . . #realestate #nyc #broker #leadership #motivation #realestateagent #buyandsell #investing #realestatetips See more

Real Estate Will Lead The Way

One World Trade

Quite a sight happening in Lincoln tonight... Lincoln Police announce the "Hold Cops Accountable" initiative with local black community leaders. Now, they're doing the Cupid Shuffle outside the Malone Center. (: Ellis Wiltsey 1011 NOW)

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