SHORT TERM HOUSING MARKET FORECAST, By Craig A. Fine, Esq.
"Buyers, sellers and real estate professionals across the country are trying to adjust to a very different housing market as interest rates continue to fluctuate." Said Craig A. Fine, Esq. - Real Estate Attorney and Founder of the law firm of Craig A. Fine in Staten Island, New York.
According to Attorney Craig Fine, buyers and sellers couldn't be further apart - and it's not clear how the standoff will end. For recent transactions, Craig Fine's law firms advises sellers to look at real estate comps of recently sold properties and list their own for 2-5 percent less. Instead, sellers demand higher ask price and oftentimes list above market.. “The popular thought is to try it for a couple of weeks. I warn that the house may remain on the market for an extended period of time,” says Craig Fine, ESQ..
Additionally, buyers are beginning to balk at the condition of the homes they find in their price range. Sellers have had the upper hand for several years and buyers accepted whatever was thrown their way. Now, Craig Fine says, buyers feel the repairs they want are "justified based on the market." This separation is just one factor keeping sales activity in check. Higher mortgage rates are another. "A household with an average annual income of $71,000 and a 20% down payment could afford a home costing $448,700 in January 2022, when interest rates were 3.1%. By contrast, the same household with a 7% mortgage rate can only buy a $341,700 home.” Mortgage experts, economists and bankers are divided as they attempt to forecast short and mid-term interest rates.
The Law Office of Craig A. Fine represents real estate buyers, sellers and investors in NY, NJ and in FL.
Area of Expertise:
• Residential Real Estate Closings
• Commercial Real Estate Closings
• Deed Transfers
• Refinance Representation
• Settlement Agent
• Lease Preparation & Review
• 1031 Exchanges
• Easement Creation & Termination
• Contractor Representation
• Condominium Representation
• Co-op Representation
About Craig A. Fine, Esq. on Lawyer.com
Contact:
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ReplyDeleteCraig A. Fine, Esq. was very helpful. I found other articles.
ReplyDeletehttps://craigfineesq.blogspot.com/2023/11/short-term-housing-market-forecast-by.html
https://craigfineesq.blogspot.com/2023/11/craig-fine-esq-strategy-and-outlook-on.html Great information about real estate law by Craig Fine
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https://medium.com/@alexkorchmar72/attorney-craig-fine-real-estate-tips-and-closing-cost-a687699f389f
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DeleteRead About Craig A. Fine, Esq online
DeleteCraig A. Fine is currently licensed to practice law in the states of New York, New Jersey, and Florida.
The Law Office of Craig Fine offers expertise in the areas of real estate closings, landlord-tenant law, and foreclosure. In New York, Craig Fine maintains two offices, Staten Island and New York City
https://www.bevwo.com/top-5-reasons-for-tenants-to-hire-a-real-estate-lawyer-during-eviction/#google_vignette
ReplyDeletehttps://medium.com/@brendonberges/great-information-about-real-estate-law-by-craig-fine-https-craigfineesq-blogspot-com-2023-11-crai-b1fe0e34eb31
ReplyDeleteWhat are the Benefits of Owning a Condo vs a Co-op
ReplyDeleteThis question is for attorney Craig Fine. Does your office represent real estate developers?
ReplyDeleteI have a question for you Mr Craig Fine lawyer where do you see real estate going short term in Staten Island NY?
ReplyDeleteAbout Craig A. Fine, Esq:
ReplyDeleteCraig A. Fine is currently licensed to practice law in the states of New York, New Jersey and Florida.
Attorney Craig Fine and his team continue to assist a growing list of clients in the areas of:
• Residential Real Estate Closings
• Commercial Real Estate Closings
• Deed Transfers
• Refinance Representation
• Settlement Agent
• Lease Preparation & Review
• 1031 Exchanges
• Easement Creation & Termination
• Contractor Representation
• Condominium Representation
• Co-op Representation
• Residential Real Estate Closings
• Commercial Real Estate Closings
• Foreclosures
• Deed Transfers
• Refinance Representation
• Settlement Agent
• Lease Preparation & Review
• 1031 Exchanges
• Easement Creation & Termination
• Contractor Representation
• Condominium Representation
• Co-op Representation
• Corporate Formation
• Corporate Dissolution
• Trusts and Estates
https://patch.com/new-york/windsorterrace/affordable-brooklyn-apartments-hit-housing-lottery?utm_source=share-link&utm_medium=web&utm_campaign=share. Craig A. Fine, Esq.
ReplyDeletehttps://patch.com/new-york/new-york-city/nyc-asking-prices-hit-record-high-10-jump-over-last-year-study?utm_source=share-link&utm_medium=web&utm_campaign=share
ReplyDelete
ReplyDeleteAbout Craig A. Fine, Esq:
Craig A. Fine is currently licensed to practice law in the states of New York, New Jersey and Florida.
Since 2007 The Law Office of Craig Fine offers formidable expertise in the areas of real estate closings, landlord-tenant law and foreclosure cases and maintains offices in Staten Island and New York City.
https://patch.com/new-york/new-york-city/nyc-asking-prices-hit-record-high-10-jump-over-last-year-study?utm_source=share-link&utm_medium=web&utm_campaign=share
In addition to real estate, the firm represents residential and commercial clients in both litigation and transactional situations. Mr. Fine also counsels clients on a variety of other legal matters, including trust and estates, elder law, corporate formation, structuring, organization and finance of business entities, asset purchases and sales, mergers and acquisitions, and property and equipment leasing.
Craig A. Fine, Esq. is a graduate of New York Law School. In his private life, Craig Fine is a father, son, husband, respected community member, author and generous donor to numerous charities.
Attorney Craig Fine and his team continue to assist a growing list of clients in NY, NJ and Fl.