ReInventive Real Estate

The basic prime rate went up again but mortgage rates have not! I believe the raise will likely trickle through. Lock now.

Market Report now: home prices flattening, interest rates are presently about 5.5%-6% (my numbers are always industry-anecdotal only, and circumstances vary). I believe rates will be 1 point higher in a year then will be stable and start to come back down to where they are now, where they will stick for years to come. So buy now, because you're not getting any breaks by waiting - prices are flattening but because of persistent inventory shortages it can only get more expensive for the next few years.

Just Interesting - Ridge Hill sold for $220 mill and stores will vanish to be replaced by 'outdoor' stuff (??). It cost $600 mill to develop. Go figure. It's real estate and 'anything can happen'.

At 5%, we forget it was12% in 1982. The Fed yesterday announced more increases for '22. Refinance and buy now. I paid 7.75 in '97. At the 6.5% I think we're headed to on a 6-12 month horizon, that's +$500/mo. on normal Westchester home. Act now. Options erode with time.

Newest rate info dictates action -again per the article, there will still never be a better time to refi or purchase. Comparably, vs a 30 year avg of 6.2%, purchase rates are now ballpark 4.5%-5%, instead of the 3% - 3.75% we saw 8 months ago. It's only up from here per the article, as the Fed tries to control rampant inflation. If it's 5.5% in a year, that's many hundreds a month. Refi now, buy now, Call me, or it'll slide and you may lose many thousands by inaction. 914 413-3689

ReInventive Real Estate Realty Done Differently - Benefit by our integrated approach - real estate + mortgage = less stress

We're following Fannie Mae and the National Association of Realtors now, for relevant generic info.

OUCH, WE ARE RUNNING OUT OF TIME TO REFINANCE YOUR MORTGAGE - the Fed announced 3, maybe 4 quarter point increases during '22.

They might change their minds, but that's the intell now. On a $400k mortgage, that's $250/mo. payment difference!!! Call me.

Newest News on Rates and IT MATTERS! Fed likely to raise by 1/4 point in a few months, per WSJ. That means it could be no raise or 1/8 or 1/4. This is a big deal folks. Get your refinances and purchases done now. In 2 years, rates will be back to 5, in my opinion. Next summer, it'll be 4 instead of 3 and that's an extra 250/mo on a 400k mortgage for example.

Zillow's algorithms are not quite performing and they've realized you can't do real estate without humans. There are just too many unknowns a computer program can't account for, that humans must assess for wise purchases and sales. What a surprise;)

I put it all under the glass to show you how and why everything works the way it does, and what it all means for you.

Yep, these are actual homes actually sold - I'll not post others' content like others might.