Rising interest rates have dramatically changed how affluent buyers approach real estate in secondary markets, according to William Melnick, associate agent at Elyse Harney Real Estate in Litchfield County, Connecticut. A once-common financing strategy — using cash offers to secure a property, then refinancing to lock in low-cost debt — has vanished, upending both deal ...
Manhattan’s residential real estate market has long moved in predictable cycles, with busy spring seasons and slower holidays. This year, however, Ann Ferguson, principal broker and founder of Ann Ferguson, LLC, observed an unexpected spike in activity in November, typically a slowdown. “For some weird reason in November the market picked up, and that is ...
After years of lagging behind condos, Manhattan co-ops are seeing renewed buyer interest as declining mortgage rates near 6 percent make board-approved properties affordable again. This reversal comes after a long stretch in which stricter approval processes and stringent financial requirements pushed many buyers toward condos. Ann Ferguson, principal broker and founder of Ann Ferguson, ...
High-net-worth buyers are fundamentally changing Miami’s real estate market by refusing to consider properties that require any post-purchase work. This new buyer mindset, driven by comparisons with other luxury markets, is forcing sellers to raise their standards or risk prolonged listing times and price cuts. Madeleine Romanello, a broker associate with the Romanello Villar Group, ...
While headlines highlight Florida’s affordability crisis and a median home price near $400,000, a quieter trend is unfolding in Wesley Chapel and Pasco County. Here, builder incentives are making homeownership possible for buyers who previously believed it was out of reach. Whitney Lohr, team leader at Florida Living Group within Berkshire Hathaway HomeServices, has seen ...
While national headlines highlight a slowdown in new construction, several master-planned communities in Wesley Chapel are seeing steady buyer demand. According to Whitney Lohr, team leader at Florida Living Group within Berkshire Hathaway HomeServices, the key difference is a new development model that brings together multiple builders and a wider range of options than the ...
Miami-Dade County’s transparency database lets buyers research building finances before making offers, in contrast to Florida law, which requires buyers to sign a contract before accessing key financial documents. Florida’s condo disclosure laws require buyers to be under contract before they can review critical financial documents. Danielle Blake, Chief of Residential & Advocacy at the ...
Condo associations across Florida are raising insurance deductibles above 5 percent to cut premiums. However, the strategy can disqualify buildings from conventional financing and shrink the buyer pool, according to Danielle Blake, Chief of Residential & Advocacy at the Miami Association of Realtors. Blake warns that when associations increase deductibles to save money, they often ...
The economics of new construction in Bergen County have shifted significantly, making it viable only at much higher price points than in the past. This change has significant implications for the area’s ongoing inventory shortage, as new homes are built exclusively for the wealthiest buyers, leaving most demand unmet. Sergio Sciortino, broker associate with Keller ...
In Miami’s luxury pre-construction market, buyers are paying a clear premium for developments branded by well-known hospitality companies. At the same time, equally reputable non-branded projects often struggle to attract attention, even when they offer better value. This two-tier pricing structure is driven by brand psychology rather than hard differences in quality or investment fundamentals. ...
Outdated lending rules are sidelining Miami condo buyers, as federal standards treat building improvements as “deferred maintenance,” forcing many to put down 25% even in buildings that have passed all required inspections. Miami’s condo market is experiencing a financing logjam unrelated to structural safety or reserve funding. Instead, the problem stems from how Fannie Mae’s ...
Recent changes in Manhattan’s political and tax environment are fueling a visible exodus of wealthy individuals from New York City, with many relocating to northern New Jersey and other lower-tax states. According to Christian Di Stasio at Christian Di Stasio Group, a broker associate specializing in luxury transactions up to $15 million, this migration is ...
Falling mortgage rates are driving renewed activity in northern New Jersey’s real estate market, not only among homeowners seeking lower payments but also among investors reallocating funds from equities into property as rates stabilize. A Shift from Constraint to Catalyst After a period of high mortgage rates that slowed transaction volume and dampened confidence, the ...
Montreal’s residential market recorded 8.7% year-over-year price growth, even as Toronto and Vancouver posted declines. At first glance, this suggests broad strength across Canada’s second-largest city. But Joëlle Bitar, a broker whose team manages nearly 100 active listings across Montreal and its suburbs, says that headline figure masks a sharp divide across property types. Bitar ...
Florida’s housing market is showing a clear divide: condos are struggling with high inventory and falling prices, while single-family homes are holding or gaining value. Taylor Johnson, a sales associate with Berkshire Hathaway HomeServices Florida Network Realty in St. Augustine, sees this split play out daily. “Our condo market is hurting. We have very high ...
