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Real Estate Blog
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Real Estate Blog
Thursday, September 28 2017

Real Estate Update
 

By Michael Ardolino, Broker-Owner, Realty Connect USA

Early Fall 2017

 

2017’s hallmarks-low rates, tight inventory, and rising prices-should continue in the  4th quarter.

 

· The 30-year rate recently reached a new low for the year of 3.78%, so for now buyers can still take
advantage of exceedingly  low rates. Even if the Fed does begin to raise rates on a more regular basis, the
increases are likely to be incremental.

 

· In 2016, the recovery was uneven. In 2017, we have enjoyed sales activity across all market sectors, from starter to   luxury, promoting a healthy real estate cycle. This sets the scene in a positive way for the fourth quarter and for 2018.

 

· Low inventory remains a nationwide trend. In our area, we have a 3.5-month supply of homes for sale. 

     Current homeowners, this seller’s market represents a huge opportunity to free up your equity and use it to
      purchase 
your next home. Don’t wait until you are priced out of it. (See Exhibit 1.)

 

· Real estate is an integral part of the American Dream according to 79% of Americans, and confidence is way up. (See Exhibit 2.) Investing in real estate remains the best way to build wealth over the long term.

 

· According to a recent National Association of Realtors survey, 84% of Americans view buying a home as a good  financial decision, the highest percentage since 2007. This is a vibrant illustration of the real estate
recovery.

 

Sellers, now is an excellent time to list: Buyers are competing for the most enticing properties-particularly those that are priced right.  First-time buyers are in the game, older millennials are moving up, vacation homes are back, and boomers are ready to downsize. Also, like many potential sellers, you may have more home equity than you realize. This is your market. 
 

 

Posted by: Michael Ardolino AT 12:34 pm   |  Permalink   |  0 Comments  |  Email
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Michael Ardolino
Team Ardolino/Realty Connect USA
764 Route 25A
Setauket, NY 11733
Office: 631-941-4300
Direct: 631-941-6262
Fax: 631-675-1857
Email:
Michael@Ardolino.com 

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