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Long Island real estate guides
Compare communities, prepare for a home purchase, or plan your next sale. Start with a topic below, then explore the latest articles from the Pesce & Lanzillotta Team.
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Latest articles
Feb. 23, 2023
Long Island Spring 2023 Real Estate Market Outlook
Winter is fading, the seasons are changing, and we’re seeing more positive news for the Long Island spring 2023 real estate market! While Q4 of 2022 was sluggish and marked by economic uncertainty, Q1 of 2023 is heating up nicely. A drop in interest rates from highs of 7%+ to a more modest 5%+ have contributed to renewed buyer interest, the return of multiple offers, and home price stabilization across Long Island.
Read moreDec. 14, 2022
Do Holiday Decorations Yield Higher Home Sale Prices?
The holidays are here! That means it’s time to unroll the tangle of twinkle lights in the garage, set up the tree or menorah, and give your home a dose of holiday cheer. However, if your home is currently on the market or you’re planning to list in the next couple weeks, you might be hesitating. Do holiday decorations yield higher home sale prices? Or would you be better off skipping the festivities this year and sticking to clean, fuss-free staging?
Read moreNov. 17, 2022
Mortgage Interest Rates Corrected After the Midterm Elections – What’s Next for the Long Island Housing Market?
Midterm elections often mean hotly contested races for seats in the House and Senate and polarizing issues that sweep the country. Though this year’s midterm elections were no exception to the norm, they did offer one unusual result – mortgage interest rates have corrected a bit since November 8th, 2022. After topping 7% in recent weeks, rates for a 30-year-fixed-rate mortgage dropped to 6.9%. That’s a decline of 39 basis points, a significant change from the previous week!
Read moreOct. 18, 2022
Impact of Rising Interest Rates on the Long Island Housing Market
Every week it seems, there’s a headline about rising interest rates or new pressures on prospective home buyers. The housing market is changing, and not just on Long Island. Around the country, buyers are facing affordability challenges even as they hurry to lock in a loan before interest rates rise again.
Read moreSept. 21, 2022
Putting Your Home on the Market Soon? 5 Ways to Make Buyers Fall in Love
Are you thinking of selling your Long Island home and worried you missed out on the summer market? Despite rising interest rates, we are still seeing a strong buyer presence on Long Island. Multiple offer scenarios may be less common, but buyers are seeing the opportunity of purchasing a home now and locking a comparatively low interest rate on their mortgage.
Read moreAug. 17, 2022
How the Recent Fed Rate Hikes Could Impact the Long Island Housing Market
In recent weeks, the Federal Reserve raised the standard interest rate seventy-five basis points or 0.75%. Headline news in most economic and business journals, the immediate impact on the housing market was less notable. Though with the Fed projected to raise rates again in September, we are watching the trends closely to ensure we provide the best, most updated guidance for our clients.
Read moreApril 29, 2022
3 Reasons to Sell Your Long Island Home in the Next 6 Months
With summer right around the corner and another school year drawing to a close, you might be thinking about putting your Long Island home up for sale. However, after years of increasing home prices, how do you know if now is the right time to sell? Should you wait another year and then move? While there’s no perfect time to sell, we are seeing a few different things in the Long Island real estate market that will work in your favor should you decide to list this year.
Read moreFeb. 10, 2022
Why Spring 2022 Will Be a Great Time to Sell Your Long Island Home
After another record-breaking year in Long Island real estate, both prospective home buyers and sellers are preparing for a hot spring market. While spring is traditionally considered one of the best times to make a move, there are a few factors that will propel the 2022 market to new heights. If you’ve been on the fence about listing your property and moving up, moving down, or relocating out of the area, read on for some of our top reasons to list your home this spring.
Read moreDec. 8, 2021
Pros and Cons of Selling Your Home During the Holidays
While you may be thinking of listing your home after the first of the year or even in the spring, the holiday season can also be a great time to sell. After a year like 2021, many Long Island home sellers are taking advantage of unprecedented buyer demand to secure a great offer for their home now.
Read moreNov. 3, 2021
What Higher Inflation Could Mean for the Long Island Housing Market
If you’ve been to the grocery store lately or tried to book a hotel, you’ve seen the effects of inflation in today’s economy. Supply chain issues and labor shortages in multiple industries have contributed to price growth almost across the board. In the last year, home prices in the US rose almost 20% and are expected to climb another 8% next year.
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