Why Now Is The Time To Invest?

A real estate force unlike any other in our lifetime

Let’s break it down into two key factors that highlight its extraordinary strength in a way that everyone can understand.

1. The Mortgage Marvel: Unbeatable Rates 

Picture this: more than 80% of homeowners in Westchester enjoy mortgage rates below 5%, with over 50% basking in rates below 4% (see graph below). Mind-blowing, right?

Now, despite all the chatter about potential foreclosure crises, here’s the real deal. Homeowners with such fantastic mortgage rates will fight tooth and nail to keep their homes. Why? Because finding another affordable house or even renting at today’s rates is no walk in the park. Even downsizing might not save them money due to higher mortgage rates. The bottom line? This abundance of homeowners with low mortgage rates forms an unshakable foundation, protecting us from the devastating flood of foreclosures seen during the 2008 crisis.

2. Equity: The Secret Weapon of Homeownership

Get ready for an eye-opener: around 68% of Westchester homeowners have either paid off their mortgages or hold at least 50% equity (see chart below). It’s like hitting the jackpot!

Now, let’s rewind to 2008. Remember the heartbreak of homeowners forced to abandon their properties because they owed more than they were worth? Fast forward to today, and we witness a different story. Homeowners have diligently built up their equity over the years, creating a safety net. This massive equity cushion shields us from a flood of distressed properties hitting the market, like we saw during the crash. It’s like having an impenetrable fortress guarding the strength of Westchester’s housing market.

Bottom Line

Brace yourself for the powerhouse of real estate markets—the unstoppable Westchester. Homeowners are fiercely determined to preserve their unbeatable mortgage rates, backed by their substantial equity reserves. It’s a game-changer compared to the fragile conditions of 2008.