Home affordability among the least affluent third of Americans has worsened sharply over the past two years, as the housing market has recovered but incomes have not. The disparity has placed homeownership increasingly out of reach for working Americans whose wages are lowest, even if they shop for the least expensive homes on the market. Worsening housing affordability for … [Read more...] about Lowest earners can’t afford even the least expensive homes
Should you refinance? Here’s what you need to know
With mortgage rates at their lowest point since the rock-bottom numbers of 2013, LOCALS may be wondering, is it a good time to refinance? "This is not a simple question," said Jean Dowd, mortgage loan office for PNC Mortgage. "People refinance for different reasons. Some to get a lower monthly payment, some want to reduce their term, some want to do both. There are also … [Read more...] about Should you refinance? Here’s what you need to know
With interest rates holding steady for now, time is right to buy or refinance
With federal regulators deciding this week to hold off again on any interest rate hike, homeowners and home buyers still have an opportunity to take advantage of record-low mortgage rates. "It's a great time to refinance," said Jim Whitehouse, executive vice president of Suffolk County National Bank. "The bond market took off [after Wednesday’s rate announcement] so the … [Read more...] about With interest rates holding steady for now, time is right to buy or refinance
As market improves, real estate brokers look to add agents
Unemployment rates are declining across the country. The U.S. is seeing modest, but consistent, economic growth. Jobless claims on Long Island are below the national average and yet, there are still those struggling to find work in a competitive market. If you're looking for employment, perhaps a career in real estate is worth consideration. In a recent survey of real estate … [Read more...] about As market improves, real estate brokers look to add agents
Disaster preparedness: Hope for the best, prepare for the worst
As the seasons are changing, most homeowners are busy preparing their properties for fall and winter. While the typical chores involve cleaning up landscaping and packing up the outdoor patio furniture, it's also a good time to prepare for any natural disasters like hurricanes, fires, flooding, or even tornados or earthquakes that might come this way. In the not-so-distant … [Read more...] about Disaster preparedness: Hope for the best, prepare for the worst