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Thursday, September 14, 2023   /   by Joyce Dungca

Why Is Housing Inventory So Low?

One question that’s top of mind if you’re thinking about making a move today is: Why is it so hard to find a house to buy? And while it may be tempting to wait it out until you have more options, that’s probably not the best strategy. Here’s why.
There aren’t enough homes available for sale, but that shortage isn’t just a today problem. It’s been a challenge for years. Let’s take a look at some of the long-term and short-term factors that have contributed to this limited supply.
Underbuilding Is a Long-Standing Problem
One of the big reasons inventory is low is because builders haven’t been building enough homes in recent years. The graph below shows new construction for single-family homes over the past five decades, including the long-term average for housing units completed:
For 14 straight years, builders didn’t construct enough homes to meet the historica. ...

  team raj jaggi, buyers, sellers, mortgage rates, housing inventory, new home construction

Wednesday, August 9, 2023   /   by Joyce Dungca

The Value of an Agent When Buying Your New Construction Home

Buying a new construction home can be an exciting experience. From being the very first owner, to customizing your home’s features, there are a lot of benefits. But navigating the complexities of buying a home that’s under construction can also be a bit overwhelming. This is where a skilled real estate agent can make all the difference.
An article from The Mortgage Reports sums it up like this:
“Your Realtor or real estate agent will be key to helping you navigate this process. . . . they can guide you through construction and help anticipate and solve for any possible snags along the way.”
Here’s how your agent is an invaluable resource in your search to find and buy your new home.
Agents Know the Local Area and Market
Your agent is well-versed in the emerging communities and upcoming developments that could influence your decision. For example, you'll want to be aware if there were any plans to construct a highway throug. ...

  team raj jaggi, buyers, sellers, first-time home buyers, new construction homes

Wednesday, May 3, 2023   /   by Raj Jaggi

Buyer Activity Is Up Despite Higher Mortgage Rates

If you’re a homeowner thinking about making a move, you may wonder if it’s still a good time to sell your house. Here’s the good news. Even with higher mortgage rates, buyer traffic is actually picking up speed.
Data from the latest ShowingTime Showing Index, which is a measure of buyers actively touring homes, helps paint the picture of how much buyer demand has increased in recent months (see graph below):
As the graph shows, the first two months of 2023 saw a noticeable increase in buyer traffic. That’s likely because the limited number of homes for sale kept shoppers looking for homes even during colder months.
To help tell the story of why the latest report is significant, let’s compare foot traffic this February with each February for the last six years (see graph below). It shows this was one of the best Februarys for buyer activity we’ve seen in recent memory.

In the last six years, we saw the most February buyer traffic in 2021 . ...

  team raj jaggi, buyers, top team, long island, sellers, your home sold guaranteed or we'll buy it, new york, award winning, best of zillow, housing market, nassau, first-time home buyers, raj has buyer, new listing, suffolk, home evaluation, pre-approval, homes, cash offer in 24 hours, moving, pre-commitment, pre-qualification, gen z, millennials, intrest rates, guaranteed home sale, free evaluation, construction, cash offer, inflation, recession, equity, investors, builders, home sold, best school district

Monday, May 1, 2023   /   by Raj Jaggi

Why Buying a Home Makes More Sense Than Renting Today

Wondering if you should continue renting or if you should buy a home this year? If so, consider this. Rental affordability is still a challenge and has been for years. That’s because, historically, rents trend up over time. Data from the Census shows rents have been climbing pretty steadily since 1988. 
And, data from the latest rental report from Realtor.com shows rents continue to grow today, even though it’s at a slower pace than we saw at the height of the pandemic:
“In March 2023, the U.S. rental market experienced single-digit growth for the eighth month in a row . . . The median asking rent was $1,732, up by $15 from last month and down by $32 from the peak but is still $354 (25.7%) higher than the same time in 2019 (pre-pandemic).”
With rents much higher now than they were in more normal, pre-pandemic years, owning your home may be a better option, especially if the long-term trend of rents increasing each year continues. In contrast, homeowner; ...

  team raj jaggi, buyers, top team, long island, sellers, your home sold guaranteed or we'll buy it, new york, award winning, best of zillow, housing market, nassau, first-time home buyers, raj has buyer, new listing, suffolk, home evaluation, pre-approval, homes, cash offer in 24 hours, moving, pre-commitment, pre-qualification, gen z, millennials, intrest rates, guaranteed home sale, free evaluation, construction, cash offer, inflation, recession, equity, investors, interest rate

Friday, April 28, 2023   /   by Raj Jaggi

Ways To Overcome Affordability Challenges in Today’s Housing Market [INFOGRAPHIC]

Some Highlights

With so few homes on the market right now, widening the scope of your search to include nearby areas could help you find more options in your budget.


You can also work with a trusted lender to consider alternative financing options and search for down payment assistance.


If you’ve been searching for a home but are concerned about rising costs, make sure you have a team of trusted real estate professionals for expert advice. ...

  team raj jaggi, buyers, top team, long island, sellers, your home sold guaranteed or we'll buy it, new york, award winning, best of zillow, housing market, nassau, first-time home buyers, raj has buyer, new listing, suffolk, home evaluation, pre-approval, homes, cash offer in 24 hours, moving, pre-commitment, pre-qualification, gen z, millennials, intrest rates, guaranteed home sale, free evaluation, construction, cash offer, inflation, recession, equity, builders, investors, home sold, interest rate

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