Prodigy Real Estate - SI NY Real Estate Blog - May, 2023

Staten Island is home to several prominent sites influential to the American Revolutionary War.

Staten Island was an important strategic location for both British and American armies during the American Revolution. Important historical occurrences during that time were witnessed at a number of significant Staten Island locations. St. Andrew's Church is one significant location that was important as a gathering place and military command center. A thorough history of St. Andrew's Church and other major Staten Island locations during the American Revolution may be found here:

1. St. Andrew's Church: During the Revolutionary War, Americans needed a place to congregate, and St. Andrew's Church in Staten Island's Richmond district provided that. The church, which was constructed in 1712 and had a prominent place in the neighborhood. It…

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Middletown New Jersey is one of the most popular towns to move to in 2023. So what parks are worth a visit?

Monmouth County is home to the township of Middletown, New Jersey. Despite the fact that Middletown itself lacks any state or national parks, there are a number of parks and recreational sites nearby that locals and tourists can use. Let's look at a few of these parks and give a quick overview of how they came to be.

1. Hartshorne Woods Park is a short drive from Middletown and is located in the nearby community of Atlantic Highlands. This county park, which has a total area of 787 acres, provides a range of recreational opportunities. Due to its large path system, the park is well-liked by hikers, mountain bikers, and nature lovers. It provides breathtaking views of the surroundings, including Sandy Hook Bay and the skyline of New York City. A…

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New Jersey Shore Condominiums are no strangers to Point Pleasant Beach, NJ.

Here are some of the condominium developments in Point Pleasant Beach, NJ. So, if your considering buying a condo unit here is an overview with associated amenities. For more information you can contact us at (718) 701-5626

1. Ocean Beach 1 - Located on the ocean side of Route 35 South, this complex has 472 units, a community pool, and private beach access.

2. Surfside Condominiums - Situated on the ocean block of Maryland Avenue, this complex has 45 units with ocean views and a community pool.

3. Bay Point Harbour - This complex is located on the bay and has 252 units with private docks and boat slips, as well as a community pool, clubhouse, and tennis courts.

4. Channel Club Tower - This high-rise complex has 98 units and is located on…

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Do mortgage rates impact home values? Here's a look at a bit of history showing there can be.

Home values have historically been significantly impacted by mortgage interest rates. Lets look at significant years and decades to highlight this connection: 

1. 1970s: Mortgage interest rates significantly rose during this decade. The typical interest rate for a 30-year fixed mortgage was around 7.5% in 1970, but by 1980 it had increased to almost 13%. Because higher interest rates meant larger monthly payments for borrowers, making it harder for them to finance homes, this increase in rates resulted in a decline in home values.

2. 1980s: Mortgage interest rates hit a record high during this time period. The typical 30-year fixed mortgage rate in 1981 was above 18%. Due to the high rate, there was less of a demand for homes, which resulted…

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Long Branch, New Jerseys booming condominium developments are unmatched.

Here are some condominium developments in Long Branch, NJ:

1. Ocean Cove: Located on Ocean Avenue, Ocean Cove is a luxury condominium complex that offers beautiful views of the Atlantic Ocean. The complex features spacious units, private balconies, and a fitness center.

2. The Lofts Pier Village: Situated in the heart of Pier Village, The Lofts is a stylish condominium complex that features loft-style units with high ceilings, large windows, and modern finishes. The complex also offers a rooftop lounge and a fitness center.

3. The Beach House: Located on Ocean Avenue, The Beach House is a beachfront condominium complex that offers stunning ocean views. The complex features spacious units, a private beach club, and a fitness center.

4.…

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What are some of the New Jersey Shore towns with a historic flairthat are worth a visit.

The New Jersey Shore has many historic towns that are worth exploring. Here are some of the best picks:

1. Cape May - Known for its Victorian architecture, Cape May is a beautiful seaside town that was founded in the 1700s. It's been designated a National Historic Landmark and is home to many historic sites, including the Emlen Physick Estate, the Cape May Lighthouse, and the World War II Lookout Tower.

2. Ocean Grove - Founded as a Methodist retreat in the late 1800s, Ocean Grove is a charming town with a strong sense of community. Its historic sites include the Great Auditorium, a Victorian-era concert hall, and the Ocean Grove Historical Society Museum.

3. Red Bank - Located on the Navesink River, Red Bank is a historic town with a…

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What to know about flood insurance in New York and NJ

After Hurricane Sandy hit the New Jersey shore in 2012, insurance companies had to reassess the risk associated with insuring properties in the area. Here are some news stories and summaries that highlight how insurance companies have responded to the hurricane:

1. "After Hurricane Sandy, Coastal Property Insurance Rates Rise" (NPR, November 2013) - This article discusses how insurance rates for coastal properties in New Jersey have increased since Hurricane Sandy. Many insurance companies have either stopped offering policies in the area or have significantly increased their rates due to the higher risk of storm damage.

2. "Insurance Rates Rise on Sandy-Damaged Properties" (The New York Times, March 2013) - This highlights how insurance rates…

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Moving from New York to New Jersey what are the closing costs?

There are a number of variables that can affect the closing expenses, including the purchase price, the location of the property, and the type of financing. The following are some typical closing expenses you can face:

1. Legal costs for selling a home in New York: often between $1,500 and $2,000.
2. Transfer taxes: In New York City, the transfer tax is 0.4% for homes under $500,000 and 1% for homes over $500,000. The transfer tax varies from county to county outside of New York City.
3. Title check and insurance: Usually costs between $500 and $1,500.
4. The cost of the real estate broker commission could be reduced if you decide not to use a real estate agent.

When purchasing a home in New Jersey, there are a few costs to consider.

1. Mortgage…

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How video technology is shaping the future of Prodigy Real Estates marketing!

When compared to only images, property videos may be a very powerful tool in real estate marketing. The following engagement statistics back up this statement:

1. Greater Engagement: Research shows that videos get 1200% more social media shares than text and photos combined. More effectively than just images, property films may draw in prospective buyers and increase engagement.

 2. More views: A National Association of Realtors (NAR) survey discovered that listings with videos attract 403% more enquiries than those without. This means that a property listing with a video will likely receive more attention from potential buyers than one with only images.

 3. Prolonged Visit: According to the same NAR survey, users stay on websites with video…

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Monthly Stats for the Month of March

ProdigyRE’s Monthly topic on Real Estate statistics. The Monthly Stats FULL LIVE is now available on Facebook 

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