This week we sat down and went through the ins and outs of buying a home for the first time. It's a scary and nervous time for many, but also an exciting one. Finally, a place to call your very own! So, how do you get there?
Using his more than 10 years experience selling real estate in the Staten Island area, broker and co-owner Anthony Licciardello goes into some horror stories from the vault and gives some warning signs you should see as red flags right away!
We talk about mortgage programs around the US that are designed to help you afford your first home, though we mostly focus on the Staten Island and New York City markets.
Also discussed is the current state of the market and whether it is favorable to buyers or sellers. We talk about interest rates and how they drive the market, inventory numbers, and home affordability. It's difficult to label any area as a "buyer's market" or "seller's market" outright. But certain conditions now are more favorable to buyers then they have been, so we'll detail these as well.
We also touch on some of the fees involved in closing, such as the attorney fee (in New York State an attorney is required when buying a home). We aren't a mortgage firm, so these are more basic in nature but give you a point to start from.
What are some pitfalls you should avoid? What is the best way to go about researching your way into home buying success? All this and more in our Facebook livestream along with some live feedback for viewers!
Want to catch the next one live so you can ask some questions yourself? Tune into our Facebook page weekly to get notified of our next live chat!