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Since entering the real estate industry and becoming a reality star, Serhant has shared several pieces of wisdom, including his approach to being an agent, why owning real estate is a path toward generational wealth and more. On real estate and generational wealth"Owning real estate is a great path toward generational wealth in the United States. "That said, owning real estate is also one of the easiest ways to lose wealth. "Real estate is an amazing investment for the long term, but you can never bet on the short term," he says. "If you've never bought real estate before, work with someone who has, talk to someone who has, and use a real estate broker," he says.
Persons: Ryan Serhant, Serhant, Realtor.com, Joe De Sena's, you've, De Sena Organizations: Netflix, New, CNBC Locations: Manhattan, New York, United States
watch nowThe Tuscan-style mega villa that sits high atop Malibu has just been put back on the market with a $44.5 million price tag. Studio 910The French limestone-clad villa's more recent history includes being featured on reality TV and film. Studio 910The primary suite includes vaulted ceilings and two balconies, plus a wraparound terrace. Studio 910The primary suite's third interior balcony overlooks the great room where 35-foot ceilings are clad in walnut wood. Studio 910The kitchen.
Persons: Shawn Elliott, Elliott, Howard Leight, Bob Easton, Leight, Kardashians, Leight's, Howard Leight Jr Organizations: Malibu Rocky, Nest Seekers International, CNBC Locations: Malibu, Santa Monica, Malibu's
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSykes: What we're seeing in the housing market is the classic "Don't fight the Fed"Erin Sykes, chief economist at Nest Seekers International, discusses the state of the housing and mortgage market, and says a key metric to watch is how many days a property is listed.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLack of affordable housing has created a surge in rentals, says Nest Seekers' Erin SykesErin Sykes, chief economist with Nest Seekers International, joins 'The Exchange' to discuss volatility bringing down mortgage rates, demand for single-family homes and the lack of housing affordability.
Their presence led to a run-up in housing costs and real estate investor activity. But elevated home prices are "being misinterpreted as a shortage" says Erin Sykes, economist for Nest Seekers. "I'm not convinced there is a housing shortage, more so a mismatch of housing types and locations," she told Insider. According to an October housing report from ATTOM, institutional investors nationwide accounted for only 6.7% of housing inventory in the third-quarter of 2022 — down from the 8.4% seen in Q3 of 2021. As homebuyer and investor activity fades, and more employers call workers back into the office, Sykes says the so-called housing shortage could be on its last leg.
This as-told-to essay is based on a conversation with Bianca D'Alessio, a broker for Nest Seekers International and castmember of 'Selling the Hamptons.' Across the market, different price points are responding differently. When you're a renter, you're paying someone else's mortgage; when you own, you're paying yours. Once they've identified them, we can move forward in having a conversation of what's possible in different areas and at different price points. At different price points, different inventory types, and in different cities, we're going to feel different adjustments.
La Dune, a 4.2-acre compound in Southampton, is currently on sale for $150 million. The property includes two residences situated near the beach, with a total of 19 rooms and 18 bathrooms. A sprawling beach house situated on 4.2 acres of coastal property in Southampton could be the biggest sale ever in the Hamptons — if it manages to find a buyer. According to CNBC, the last owner was art magazine owner Louise Blouin, who put it up for sale in 2016 for $140 million. Now, La Dune is back seeking a new owner once more, with the help of Nest Seekers International, a luxury real estate residential and commercial brokerage firm.
That's equal to 15.2% of home contracts initiated during the month and similar to the 15.5% canceled in July. If you're considering joining the ranks of those who walk away from a deal in progress, it's important to know whether it will cost you to do so. The amount is usually 1% to 5% of the purchase price but can run as high as 10% depending on the local market. There also can be affordability issues causing buyers to walk away, especially in new construction, said Al Bingham, a mortgage loan officer with Momentum Loans in Sandy, Utah. Buyers "are willing to walk away even if they can qualify because the house payments have gone up," Bingham said.
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