Home Ownership Remains Strong in America

It’s looking like home ownership remains strong in America, according to Fannie Mae. The Fannie Mae 2010 Own-Rent Analysis has recently released their research of homeowners and renters. The research explores consumer decisions to buy or rent a home. According to the study findings, 51% of current owners and renters say that the housing crisis has not affected their decision to buy a home. Aspirations are high for the long run.

However, the National Housing Survey shows in the third quarter that 33% would be more likely to rent their next home. Among people already renting, 59% say they would continue to rent in their next move.

The Fannie Mae Survey conducted in November shows there is hope toward home ownership rates, but decisions to buy are tempered by current consumers' cautious attitudes toward home buying in the current financial environment.

The study shows a strong desire to own homes and reveals that life events are greatly influencing family decisions to rent. The trend with the housing crisis has caused consumers to approach home ownership with greater caution.

Fannie Mae’s research analysis shows shifting demographic and lifestyle trends correlate to consumers’ housing decisions, which may have long-term implications for the housing market. Many things are effecting decisions. For example, in the past, married couples have been more likely to own. Now, married couples are a shrinking portion of the population. Having children, however, has increased the propensity to own. In today’s market, single mothers are renting due to financial constraints and the percentage of households with children is declining overall as well.

Fanny Mae compares current consumer actions, attitudes and financial consideration with historical consumer behaviors, market experience and economic conditions to analyze today’s market of owners versus renters.

Purchasing a Home is a Good Financial Decision

A recent survey done by the 2010 National Housing Pulse Survey shows that eight out of ten people believe purchasing a home is a good financial decision. This is surprising news because of the ongoing challenges of the housing market, but very good news none-the-less.

The National Association of Realtors® released this annual report that helps measure how affordable housing issues affect consumers. The survey also found job security concerns to be the highest for the first time in eight years. Almost 70% of Americans say that job layoffs and unemployment are a big problem in their area and eight in ten say these issues are a big barrier to homeownership.

Although job recovery is what is needed right now to help get the economy and housing market back on track, many people still say owning a home is a big part of the American dream and a great long-term investment in their future.

More of the survey shows that, despite the economic uncertainty, 68% say it’s a good time to purchase a home. 63% of respondents who rent say that owning a home is a future priority and close to 40% say it’s their highest priority.

Even with improved affordability, nearly 80% of surveyors say having enough money for a down payment and closing is a big obstacle to their buying a home. And 73% say they lack the confidence to be approved for a loan.

Myers Research & Strategic Services for NAR’s Housing Opportunity Program and American Strategies are responsible for conducting the 2010 National Housing Pulse Survey. There were 1,209 adults surveyed who live in the 25 most populous metropolitan statistical areas.

 

Finding the Right Realtor® in Queens, New York

If you’re looking to buy or sell a home in any of the Queens, New York communities, we have some tips to help you find the right Realtor® who will do an exceptional job.  Buying and selling a home can be stressful, but with a little help from the right Realtor®, your stress level will be reduced to nearly nothing.

Here are a few things to consider when choosing a Realtor®:

Decide What Your Priorities Are

Before buying or selling a home, you should decide where your priorities lay.  How soon do you want to buy or sell?  If you’re selling, will you be okay with your home staying on the market for a bit longer so you can get the price you seek?  Do you have a Realtor® who is communicating with you frequently?

Research Potential Realtors®

Many family members, friends and even co-works can refer you to a great Realtor® in your area.  You can also research Realtors® on the Internet and request information about an agent, who will be happy to send you a proposal.  It is wise to choose an agent who is endorsed by the National Association of Realtors®.  They have a board who regulates them and they have to stick by a strict code of ethics.

Interviewing Potential Realtors®

After you have done your research on potential real estate agents, you can select a few to interview.  You should conduct the interviews in person so you can get a better feel for the agent’s personality and presentation.  Ask questions such as how long have they been a real estate agent, how many properties have they sold and listed in the past year and ask for references from previous clients.  Also, ask what their marketing plan will be for your home if you are selling. 

Check References and Compare Realtors®

Choosing the right Realtor® should never be made impulsively.  You should consider your priorities again, compare the different agents that you liked in your interviews and compare how they match up with your goals.

Two of the biggest and most common mistakes sellers tend to make when selecting a Realtor® are choosing the one who will price their home the highest or choosing a Realtor® with the lowest commission.

The biggest thing you can do for yourself when choosing the right Realtor® is ask for and contact their references.

The Best Places to Eat in Forest Hills

Forest Hills is full of great places to eat with a wide selection of restaurants.  Austin Street and Metropolitan Avenue contain the most restaurants in the Queens Borough.  You’ll find a quality range of restaurants in Forest Hills and more in the wealthy Forest Hills Gardens area.  There are good Italian, Chinese, Japanese, Thai, Uzbeck, and Argentine restaurants, plus a Japanese market and several Irish pubs.

We have found a list of Forest Hills' top restaurants from local reviews online and would like to share them.

Some of the top restaurant picks for Forest Hills include the following:

Best Restaurant – Danny Brown Wine Bar & Kitchen

Best Pizza – Nick’s Pizza

Best Breakfast – Just Like Mother’s

Best Place for Uzebeki Kebabs – Sult

Best Burgers, Fries, and Beer – PJ’s Steakhouse

Restaurants change and new ones open from time to time.  However, for the time being, these restaurants are what’s topping the Forest Hills' best restaurants list.

Queens Communities Getting Safer Everyday

Queens, NY communities are getting safer everyday as the city celebrates the 27th annual National Night Out Against Crime on August 3, 2010. Throughout the city, each borough precinct will be celebrating with a community gathering that is sponsored by the National Association of Town Watch.

The event is designed to heighten the crime and drug prevention, strengthen neighborhood spirit, generate support and participation in local anti-crime programs and strengthen police-community partnerships. For those who are interested in participating in the National Night Out Against Crime, we have a schedule of all events.

National Night Out Against Crime in Queens, New York:

* 102nd Precinct – At Buddy Memorial on Park Lane South and Myrtle Avenue from 7:00 pm to 9:00 pm. Everyone attending will get to enjoy free refreshments, live music, gifts and entertainment.

* 103rd Precinct – In Rufus King Park at Jamaica Avenue and 153rd Street from 5:30 pm to 9:30 pm. Entertainment and activities include performances by oldies and doo-wop band, blow up rides, face painting and free food. There will also be an honors ceremony to recognize outstanding community service.

* 104th Precinct – In Joseph P. Mafera Park at 65th Place and 68th Avenue from 6:00 pm to 8:00 pm. There will be a short class on public safety along with free refreshments and entertainment.

* 105th Precinct – In Cabbell Park at 121st Avenue and Francis Lewis Boulevard from 5:00 pm to 9:00 pm. Attendees will enjoy blow-up rides, music, games, free food and face painting. There will also be informational booths about crime prevention. The cop of the year award will also be given at this event.

* 106th Precinct – In Joseph P. Addobbo Park at 133rd Avenue between 81st and 83rd streets from 6:00 pm to 9:00 pm. There will be demonstrations of police resources, crime prevention displays, safety information, VIN etching, child fingerprinting, novelty giveaways, music, refreshments, and local organization and business information.

For information about the events of 107th through 115th Precincts, you can visit this website.