Unaffordability Creates Opportunity

A number of sources are projecting that New York City real estate will remain flat for the most-part of 2020. A part of that metric reflects the number of New Yorkers leaving the state for places that are more tax-friendly (state, city and real estate taxes). But...

Loan Originations Reach $2.1 Trillion

Considering the scarcity of inventory within the housing market, compounded by low mortgage rates, the real estate industry continues to find the fuel necessary to maintain the upward market trajectory, which is expected to last through 2020. According to the Mortgage...

The Closing Process

Closing processes involve many documents, surveys, analysis and individuals, all of which can vary depending upon the property and conditions surrounding it. Before any escrow can close, all the terms of the purchase contract must be met. At which point the seller...

Mortgages Hit $9.4 Trillion

Certain financial milestones were reached in the second quarter of 2019. According to the Federal Reserve Bank of New York, mortgage balances rose by $162 billion in the second quarter, reaching $9.40 trillion. This represents a $150 billion increase over the former...

Multi-Family Mortgage Originations Surge 29% From Q1

For the last four years inventory of available homes for sale has consistently dropped, oftentimes in the double digits from year to year and even quarter-to-quarter. As this has taken place, concurrently housing prices have risen, which makes the affordability for a...

Home Purchases Closing Faster

As the housing market continues to trend higher and inventory becomes more scarce, the time it takes for a home to be bought and sold is also shrinking. Technology is clearly contributing to the speed of transactions, but considering the number of things that must be...