Real Estate Blogs

The Island Wide Team



The stock market may have been bringing bad news recently, especially due to the fact that it comes with a lot of volatility. The good news is, despite the challenges in today's market, home prices have remained strong and are continuing to grow. Here's a quick explanation on how the housing market works:

Understanding Equity


The current value of your home minus the amount that you owe on the loan is called Equity. Since there is a huge variance in the demand for homes and the available supply, home prices have increased immensely. Although some markets have cooled down a bit, overall, home values have remained strong over the years.


In fact, according to CoreLogic's Homeowner Equity Insights, over the last 12 months, the average homeowner equity has gone up by $60,000.


Image source: CoreLogic and Keeping Current Matters


Valuable Pieces Of Information


Many people have been looking for reliable sources of income and investments, especially during the past few years, when many industries were hit badly. According to Chief Economist Lawrence Run of the National Association of Realtors or NAR,


“. . . the decline in the stock market has dented overall net wealth. It has fallen by $6 trillion from the first to the second quarter. Only housing wealth has held on, with homeowners’ real estate wealth (home value minus mortgage balance) rising by $1.2 trillion.”


Apart from increasing one's net worth, equity gives people the opportunity to do other things, such as moving to a place they like. This is because when you sell your current home, you can use the accumulated equity growth and pay for most fees to get started with your next home. Again, the growth of home prices may have been slower than the previous years, but it has always been continuous, just at a different pace.


Overall, if you are feeling stressed about today's stock market performance, take a look at the brighter side, such your home equity gains. If you are wondering how to sell your home with the least headaches or want to check how the local housing market is in your area, feel free to connect with Realtor® Kyle Kelly or any member of The Island Wide Team. As always, we would love to help you get the home of your dreams!


Call or Text: 631-831-0912

FB Messenger: m.me/KKellyNY

Personal Email: KKellyNY@gmail.com

Team Email: islandwideteam@gmail.com

Instagram: @kkellyny @IslandWideTeam

Twitter: @kkellyny

TikTok: @therealdoublek

YouTube: youtube.com/agentkkelly

YouTube: The Island Wide Team

Website: islandwideteam.com

Website: kksells.com



Disclaimer: Views and information provided in this post are for general informational and educational purposes only and is not a substitute for professional advice. Before taking any action based upon such information, we encourage you to consult with the appropriate professionals. The use or reliance to any information contained on this site or mobile application is solely at your own risk.




Now that there's a shift in the real estate market, you may be wondering if it's still a good time to sell your home. Some people say that the housing market has cooled down and it could be worrisome if you have no idea about what's happening. The truth is, the demand hasn't disappeared, it just slowed down compared to the previous years. If you are thinking about selling your home, here are a few things about today's housing market:


Changes in Buyer Demand


Mortgage rates hit record lows during the pandemic, which led to a huge increase in buyer demand. However, buyer demand pulled back a bit due to several factors, such as inflation. The chart below shows the latest trend from ShowingTime:



Despite the pullback, it still shows that today's numbers are exceeding pre-pandemic housing demand levels:



Take note that the pre-pandemic years are considered great years when it comes to the housing market. Seeing growth from these numbers only proves that there is still demand out there.


Understanding Today's Housing Market


Today's housing market may not be the same as two years ago, but surely, there is still demand. This means that if you are planning to sell your home today, you still have a chance of getting it sold for a good price.


Selling For A Good Price


If you want to make sure that your home is sold for a good price, it would be best to connect with a trusted Realtor® like Kyle Kelly of The Island Wide Team. An expert Realtor® can provide you the steps and proper advice that is fit for the market you are in and apt for your needs.

Call or Text: 631-831-0912

FB Messenger: m.me/KKellyNY

Personal Email: KKellyNY@gmail.com

Team Email: islandwideteam@gmail.com

Instagram: @kkellyny @IslandWideTeam

Twitter: @kkellyny

TikTok: @therealdoublek

YouTube: youtube.com/agentkkelly

YouTube: The Island Wide Team

Website: islandwideteam.com

Website: kksells.com


Disclaimer: Views and information provided in this post are for general informational and educational purposes only and is not a substitute for professional advice. Before taking any action based upon such information, we encourage you to consult with the appropriate professionals. The use or reliance to any information contained on this site or mobile application is solely at your own risk.



Mortgage pre-approval is a crucial first step when buying a home. Going through pre-approval means having a lender assess your finances so that they can determine how much you are able to borrow.


Some Factors That May Affect Mortgage Pre-Approval


Income - this is the money that you earn from doing work or money that you receive from investments.


Debt - this is usually in form of money, owed by one party to another. Common examples of debts are credit card debts, auto loans, and home loans.


Assets - these are properties or equipment owned by a person, regarded as having value and available to meet debts, commitments, or legacies.


Credit History - this shows all your financial activities, which is why some people refer to it as a financial report card.


Employment - this covers your working history.


What Are The Benefits of Mortgage Pre-Approval?


Clarity and Confidence


Once you get pre-approved, you know how much you'll be able to borrow so you have a clear picture of how far you can go and what options you should look at. You can make a strong offer on the home that you want because you know that your finances have been reviewed thoroughly. To know more about the pre-approval process and the whole home buying process, it is best to consult a professional Realtor®, such as Kyle Kelly of The Island Wide Team. Professional Realtors® like Kyle and his team will be able to connect you to a trusted lender who can help you prepare financially and find the home that best suits your needs.


Call or Text: 631-831-0912

FB Messenger: m.me/KKellyNY

Personal Email: KKellyNY@gmail.com

Team Email: islandwideteam@gmail.com

Instagram: @kkellyny @IslandWideTeam

Twitter: @kkellyny

TikTok: @therealdoublek

YouTube: youtube.com/agentkkelly

YouTube: The Island Wide Team

Website: islandwideteam.com

Website: kksells.com



Disclaimer: Views and information provided in this post are for general informational and educational purposes only and is not a substitute for professional advice. Before taking any action based upon such information, we encourage you to consult with the appropriate professionals. The use or reliance to any information contained on this site or mobile application is solely at your own risk.





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