An Apartment Filled With Arias

An opera singer’s West Village co-op is listed for $965,000.

Time to get creative: 3 strategies for finding buyers homes

Buying a home is hard, but it's not impossible. As a knowledgeable expert with a fiduciary duty to your clients, it's your role to help buyers weigh and evaluate their options.

Celebrate your agents! Enhance recognition by looking beyond the transaction

Rather than focusing on output, as measured by transactions completed, focus on what your agents have put into their businesses and the communities they serve. Celebrate your agents for their contributions to local charities and organizations.

6 tips for giving out-of-town buyers next-level service

If you're helping buyers look for homes from a distance, with only a short trip to make their final decision in person, here's how to create systems and processes to make working with out-of-town buyers more effective, efficient and rewarding.

Inspectify wants to normalize consistency in home inspections: Tech Review

In the same way LegalZoom took away the intimidation of speaking with an attorney, Inspectify's fast ordering and clear, categorized reporting takes the pain out of finding out your buyer's house needs work after closing.

BridgeMLS members able to pilot proptech in partnership with Openn

A mobile, transparency-in-transaction software company, Openn, has started a pilot program to test its platform with agents in the Golden State.

NYC sting embroils more than 120 companies in fair housing lawsuit

The lawsuit accuses brokerages and property owners of telling renters at risk of homelessness that their vouchers would not be accepted.

The Big Bend Group leaves Coldwell Banker for Keller Williams

The Big Bend Group, led by founder Bruce Foster, officially moved to Keller Williams last week.

How masterminds helped this office close 13,400 transaction sides

Vince Leisey, founder and CEO of Berkshire Hathaway HomeServices Ambassador Real Estate, believes masterminding is the No. 1 thing agents should commit to for success in their businesses. He shares with Jimmy Burgess his highly effective mastermind format.

Mortgage rates fall to 5.10% in biggest drop since 2020

Rates on a 30-year mortgage dropped from 5.25 percent to 5.10 percent on Thursday, the most dramatic drop in rates since April 2020, according to Freddie Mac.

Pending home sales hits slowest pace in nearly 10 years

Pending home sales dropped 3.9 percent from March to April, marking the sixth-straight month of declines amidst climbing mortgage rates, according to data released Thursday from NAR.

Homes for Sale in Connecticut and Westchester

This week’s available properties are a four-bedroom house in New Canaan, Conn., and a six-bedroom in Rye, N.Y.

Homes for Sale in New York City

This week’s available properties are in Carnegie Hill, Clinton Hill and in the East Village.

Senate narrowly confirms Sandra Thompson to lead Fannie, Freddie regulator

The 49-46 party-line vote followed a Republican leader's call to hold a referendum on the Biden administration’s "radical housing policy."

ARMs offer tempting mortgage savings, but there’s a risk

A new study from Redfin shows that homebuyers could save an average of $260 per month if they purchase a home now with an adjustable-rate mortgage rather than a traditional fixed-rate loan. That would mean savings of more than $15,000 over the first five years of the loan.

It’s a tempting number that explains why so-called ARMs are in big demand. Earlier this month it was reported that demand for ARMs had reached a 14-year high amid rising interest rates that have made standard mortgages far more expensive.

With ARMs, homebuyers can obtain lower rates for a fixed term of five, seven or 10 years, after which the rate will change depending on market conditions. ARMs are fully underwritten, the same as fixed-rate mortgages, and also require a down payment.

A 5/1 ARM would mean that the interest rate is fixed for the first five years of the loan, and adjusted each year afterwards for the remainder of the loan, which is usually 30 years. Some ARMs only reset after seven years, and 10-year ARMs are also common. They’re different from the fixed-rate mortgage, which stays at the same interest rate for the entire lifetime of the loan.

While ARMs can provide significant savings, they also come with risks. If interest rates rise substantially, borrowers can be left with much higher payments once the rate resets. In addition, many ARMs come with significant fees if borrowers want to pay off the loan early or refinance.

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The shift has begun — but rate hikes won’t be housing’s Achilles’ heel

Experts expect home sales and price growth to slow down, but they don't think rising rates will knock everyone out of the market.

Gen Zers Are Buying Homes. Here’s Where They’re Looking.

Priced out of large metro areas, many young adults are seeking mortgages in midsize cities, new research shows.

They Had Three Months to Find a Two-Bedroom in Brooklyn. Would It Be a Condo or Co-op?

When their landlord opted not to renew their lease, a couple scrambled to find a new apartment with two bedrooms, two bathrooms and some outdoor space to support their ‘plant habit.’ Here’s what they found.

Broker Spotlight: Kama Burton, CMB Realty Services

This week's spotlight shines on Kama Burton, broker-owner of CMB Realty Services, philanthropist, educator and mentor.

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