• Why You Need to Prioritize Buying a Home Now Why You Need to Prioritize Buying a Home Now

    1 comment / Posted on by Steven Rivera

    Why You Need to Prioritize Buying a Home Now

    Homeownership can be considered one of the key life achievements in one’s life. In our society, buying a home symbolizes that a person has achieved a certain economic status. Given the social and economic benefits often attributed to homeownership, positive impact towards one’s personal life and residential satisfaction is expected.

    However, housing inventory has not been the same as it was five years ago when there were more homes for sale and the prices were much lower than today. If you are considering buying a new home today, the following reasons might convince you why you may not want to put off that aspiration of yours to become a new homeowner.

     

    1. Lack of Inventory

    According to the Redfin Data center, (https://www.redfin.com/blog/data-center), based on the latest available data and zooming in on Suffolk County NY, home inventory or homes for sale in the month of April 2018 is at 5,388 has reduced by 18.7% from a year ago (6,624 home inventory in April 2017) and looking back one more year, it has reduced by 26.8% (7,964 home inventory in April 2016). Buying a home is, therefore, made all the more difficult when there are less homes to buy in your price range.

    It’s a sad truth, but a reality nonetheless: inventory is probably going to get worse before it gets better. That said, if you are considering buying a home, the sooner you can do so, the better. As days pass by, inventory will...

    Homeownership can be considered one of the key life achievements in one’s life. In our society, buying a home symbolizes that a person has achieved a certain economic status. Given the social and economic benefits often attributed to homeownership, positive impact towards one’s personal life and residential satisfaction is expected.

    However, housing inventory has not been the same as it was five years ago when there were more homes for sale and the prices were much lower than today. If you are considering buying a new home today, the following reasons might convince you why you may not want to put off that aspiration of yours to become a new homeowner.

     

    1. Lack of Inventory

    According to the Redfin Data center, (https://www.redfin.com/blog/data-center), based on the latest available data and zooming in on Suffolk County NY, home inventory or homes for sale in the month of April 2018 is at 5,388 has reduced by 18.7% from a year ago (6,624 home inventory in April 2017) and looking back one more year, it has reduced by 26.8% (7,964 home inventory in April 2016). Buying a home is, therefore, made all the more difficult when there are less homes to buy in your price range.

    It’s a sad truth, but a reality nonetheless: inventory is probably going to get worse before it gets better. That said, if you are considering buying a home, the sooner you can do so, the better. As days pass by, inventory will...

    Read more

  • Money Working For You vs. You Working For Money Money Working For You vs. You Working For Money

    0 comments / Posted on by Steven Rivera

    Money Working For You vs. You Working For Money

    Have your money work for you, instead of you working for your money.

    I think it's safe to say that the majority of people work for a living. Most of us have our
    regular routine of a Monday-Friday job, 9-5 that leaves us with little time or financial
    freedom. Even when we do finally see our savings account rise, we keep it in the bank
    earning little interest. Here are ways we can get smart with our money, and start have
    our money working for us.

    1. Develop Streams of Passive Income: This is a big one. Having multiple streams of
    passive income can really earn you the big bucks, with doing little to no work.
    Although it requires an investment initially, in the long run it will be a huge payoff.
    Real estate investments are the most common and usually most rewarding forms of
    passive income.

    2. Store Your Money In Retirement Accounts: Putting your money into retirement
    accounts such as a 401K or an IRA allows you to be invested in the market and have
    your money potentially grow significantly. Don't give away free money. Put in however
    much money your employer will match. After that you can transfer to an IRA.

    3. Choose Credit Cards With Rewards You'll Use: Choose a credit card with rewards
    that fit your lifestyle, this way each dollar you spend on your card is doing double
    duty. Note, This is only a good method if you have the money to pay it off, don't get
    yourself in debt!

    4. Become a Silent Partner In New Business: Although starting your own company
    can...
    Have your money work for you, instead of you working for your money.

    I think it's safe to say that the majority of people work for a living. Most of us have our
    regular routine of a Monday-Friday job, 9-5 that leaves us with little time or financial
    freedom. Even when we do finally see our savings account rise, we keep it in the bank
    earning little interest. Here are ways we can get smart with our money, and start have
    our money working for us.

    1. Develop Streams of Passive Income: This is a big one. Having multiple streams of
    passive income can really earn you the big bucks, with doing little to no work.
    Although it requires an investment initially, in the long run it will be a huge payoff.
    Real estate investments are the most common and usually most rewarding forms of
    passive income.

    2. Store Your Money In Retirement Accounts: Putting your money into retirement
    accounts such as a 401K or an IRA allows you to be invested in the market and have
    your money potentially grow significantly. Don't give away free money. Put in however
    much money your employer will match. After that you can transfer to an IRA.

    3. Choose Credit Cards With Rewards You'll Use: Choose a credit card with rewards
    that fit your lifestyle, this way each dollar you spend on your card is doing double
    duty. Note, This is only a good method if you have the money to pay it off, don't get
    yourself in debt!

    4. Become a Silent Partner In New Business: Although starting your own company
    can...

    Read more

  • Home Sales Pick Up After a Slow April Home Sales Pick Up After a Slow April

    0 comments / Posted on by Steven Rivera

    Home Sales Pick Up After a Slow April

    April was a slow month for Long Island real estate, but May started picking up fast.

    From May 2016 to May 2017 homes contracted for sale increased by 7.5%, going from 3,080 pending sales to 3,313. This makes up for the 7.7% drop that occurred in April compared to last year.

    In May 2017 the number of closed home sales increased 17.2% from 2016.

    Although inventory is increasing it is still lacking compared to a year ago. There are currently 12,871 homes listed on the MLS of Long Island, compared to 15,507 homes last year.

    These are interesting stats to keep in mind whether you are a real estate investor, are looking to sell your home, looking to purchase a home, or just looking to do business in the real estate industry. 

    April was a slow month for Long Island real estate, but May started picking up fast.

    From May 2016 to May 2017 homes contracted for sale increased by 7.5%, going from 3,080 pending sales to 3,313. This makes up for the 7.7% drop that occurred in April compared to last year.

    In May 2017 the number of closed home sales increased 17.2% from 2016.

    Although inventory is increasing it is still lacking compared to a year ago. There are currently 12,871 homes listed on the MLS of Long Island, compared to 15,507 homes last year.

    These are interesting stats to keep in mind whether you are a real estate investor, are looking to sell your home, looking to purchase a home, or just looking to do business in the real estate industry. 

    Read more