The Long Island Real Estate Market Timing is Everything
The Long Island Real Estate Market Timing is everything
Lately the Long Island real estate market timing is everything. The Long Island real estate market has been volatile, certain variables can change the direction of trends. An example, late 2013, due to recent aggressive action by the Federal Reserve, mortgage interest rates have dropped to near 40 year historic lows. Recent rate reductions could help you afford a home worth $30,000 more in today’s market, without a meaningful increase in your monthly payment.
Another example is after Hurricane Sandy hit Long Island. Starting January of 2013, most Long Island residents were stable after being displaced by the Super Storm Long Island real estate transaction volume rapidly increased. Before you knew it, Long Island’s available housing inventory was the lowest it has been in a while. If you want to see how many homes are available per Town go www.searchmylimls.com. Any questions, feel free to contact me.
Lots of Mortgage Options
Many mortgage products are available to suit all types of buyers from conventional fixed-rate products, ARM , to FHA and VA loans for borrowers needing more flexible lending options. If you want to know what product works best for you feel free to contact me.
Traditionally the spring selling season is the busiest time of year in real estate. That means more competition in the market, potentially interested in purchasing your dream home. By starting the process now, right before the market heats up, you’ll have a jump on the competition, which can certainly be to your advantage. Looks like the Joneses will have to fend for themselves.
If you have any questions regarding a property located in Long Island, Queens, Brooklyn, Bronx, New York City or just any general question, contact me. www.johncordeira.com.