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        <atom:link href="https://www.ragette.com/blog/tags/first-time-homebuyers/rss/" rel="self" type="application/rss+xml" />
        <title>Westchester County NY Real Estate Blog</title>
        <link>https://www.ragette.com/blog/tags/first-time-homebuyers/</link>
        <description>Westchester County NY Real Estate Blog featuring Westchester Real Estate News, Market Trends, Community Information, and more. #blog-headings#</description>
<item>
    <guid>https://www.ragette.com/blog/westchester-condo-inventory-hits-highest-level-in-3-years.html</guid>
    <link>https://www.ragette.com/blog/westchester-condo-inventory-hits-highest-level-in-3-years.html</link>
        <author>ralph@ragette.com (Ralph Ragette Jr)</author>
        <title>Westchester Condo Inventory Hits Highest Level in 3 Years</title>
    <description> <![CDATA[ 


Westchester Condo Inventory Hits Highest Level in 3 Years













As homebuyers work to balance budget constraints with lifestyle priorities, condominiums are becoming one of the most practical choices on the market. Whether you're a first-time buyer aiming to build equity or looking to downsize while staying in a prime location, today’s condo market offers strong opportunities — with inventory levels peaking at their highest level since 2021.


 


START YOUR CONDO SEARCH HERE








 ]]> </description>
    <pubDate>Fri, 22 Aug 2025 14:28:00 -0400</pubDate>
</item>
<item>
    <guid>https://www.ragette.com/blog/the-buy-now-vs-wait-calculator.html</guid>
    <link>https://www.ragette.com/blog/the-buy-now-vs-wait-calculator.html</link>
        <author>ralph@ragette.com (Ralph Ragette Jr)</author>
        <title>The Buy Now vs. Wait Calculator</title>
    <description> <![CDATA[ 


The Buy Now vs. Wait Calculator













Just in time for National Homeownership Month, MGIC’s Buy Now vs. Wait Calculator gives first-time homebuyers a clear comparison of the financial impact of buying now versus waiting to save for a 20 down payment.  Waiting might lower your future mortgage payment, but rent doesn’t build equity — and there’s no guarantee rates, prices, or inventory will improve. This tool gives you an instant, detailed breakdown to help you make a confident decision.







 ]]> </description>
    <pubDate>Fri, 20 Jun 2025 08:50:00 -0400</pubDate>
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<item>
    <guid>https://www.ragette.com/blog/get-rewarded-for-renting.html</guid>
    <link>https://www.ragette.com/blog/get-rewarded-for-renting.html</link>
        <author>ralph@ragette.com (Ralph Ragette Jr)</author>
        <title>Get Rewarded for Renting</title>
    <description> <![CDATA[ 


Get Rewarded for Renting









Rocket Mortgage has introduced a new initiative, Rocket Rent Rewards, aimed at assisting renters in transitioning to homeownership by offering up to $5,000 toward closing costs. This program allows eligible homebuyers to receive a credit equivalent to 10 of their total rent payments over the past year when they secure a mortgage through Rocket Mortgage.










Eligibility: Renters who have consistently made payments over the last 12 months finance a home through Rocket Mortgage.






Benefit Calculation: 10 of the total rent paid in the previous year, up to $5,000.










Ralph’s Take






This is a strategic way to make homeownership a little more accessible for renters. Consistently paying rent already demonstrates financial responsibility, and with higher-than-average interest rates and steady home prices, every financial break matters. By cutting down upfront costs, Rocket Mortgage is giving renters a better chance to transition from leasing to owning. Well-done. 







 ]]> </description>
    <pubDate>Tue, 04 Mar 2025 11:49:00 -0500</pubDate>
</item>
<item>
    <guid>https://www.ragette.com/blog/gen-z-homeowners-believe-it-heres-how.html</guid>
    <link>https://www.ragette.com/blog/gen-z-homeowners-believe-it-heres-how.html</link>
        <author>ralph@ragette.com (Ralph Ragette Jr)</author>
        <title>Gen Z Homeowners? Believe It. Here’s How:</title>
    <description> <![CDATA[ 


Gen Z Homeowners? Believe It. Here’s How:









Generation Z is actively pursuing homeownership, and they are employing innovative strategies to navigate the financial challenges and a competitive housing market. Defined as those born in the years between 1997 and 2012, they comprise only about 3 of current home buyers, but Gen Z’ers are entering the market earlier than previous generations. Notably, 27.8 of 24-year-old Gen Z’ers own homes, surpassing the 24.5 of millennials and 23.5 of Gen X’ers who owned homes at the same age. Here’s how they’re doing it:










Rent-vesting: Buying in less expensive areas while renting in cities, aka equity growth without relocation.






House Hacking: Purchasing properties with multiple units or rooms to rent, offsetting mortgage costs.






Co-Ownership: Pooling resources with friends or family to jointly purchase a property.






Strategic financial planning: Living with family to save on expenses, working multiple jobs, and diligently budgeting to amass sufficient funds for a down payment.










Ralph’s Take






For years, we’ve heard that young buyers are being priced out. But Gen Z isn’t waiting around — they’re taking action, proving that with the right strategy, homeownership is still within reach. What’s especially impressive is their willingness to think outside the traditional path to homeownership. Whether it's living with family to save on expenses or pooling resources with friends, Gen Z is finding ways to make real estate work for them rather than waiting on perfect market conditions.








 ]]> </description>
    <pubDate>Mon, 24 Feb 2025 08:42:00 -0500</pubDate>
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<item>
    <guid>https://www.ragette.com/blog/unexpected-costs-for-new-homeowners.html</guid>
    <link>https://www.ragette.com/blog/unexpected-costs-for-new-homeowners.html</link>
        <author>ralph@ragette.com (Ralph Ragette Jr)</author>
        <title>Unexpected Costs for New Homeowners</title>
    <description> <![CDATA[ 


Unexpected Costs for New Homeowners









A recent analysis by Real Estate Witch reveals that 81 of homeowner expenses are higher than anticipated, with 69 expressing regrets related to those unforeseen costs. Nearly half of homeowners (46) say they did not accurately estimate the cost of repairs and improvements before buying. The survey also exposes how little many buyers may know about the true cost of homeownership prior to their purchase. Here’s a breakdown:















Ralph’s Take






Homeownership is a long-term commitment, so it’s crucial to understand as many costs as possible up front. Before signing a purchase contract, I recommend your buyer’s agent:










Request the most recent utility and landscaping bills from the seller






Help you hire a qualified home inspector who can advise necessary home repairs and their potential costs






Put you in touch with a reputable home insurance broker






Verify the property taxes and the assessed value given by the municipality. If the home is over assessed, you may be able to successfully appeal and reduce the taxes.











 ]]> </description>
    <pubDate>Thu, 06 Feb 2025 08:16:00 -0500</pubDate>
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<item>
    <guid>https://www.ragette.com/blog/corelogic-first-time-homebuyers-at-higher-risk-of-overpaying-for-homes.html</guid>
    <link>https://www.ragette.com/blog/corelogic-first-time-homebuyers-at-higher-risk-of-overpaying-for-homes.html</link>
        <author>ralph@ragette.com (Ralph Ragette Jr)</author>
        <title>CoreLogic: First-Time Homebuyers at Higher Risk of Overpaying for Homes</title>
    <description> <![CDATA[ 


CoreLogic: First-Time Homebuyers at Higher Risk of Overpaying for Homes











Courtesy of CoreLogic








First-time homebuyers are at a higher risk of overpaying for homes due to appraisal gaps, according to a new report by CoreLogic. Appraisal gaps occur when the appraised value of a home is lower than the agreed-upon sales price. These gaps often lead to delays, renegotiation, additional payments from buyers to cover the shortfall, or even the cancelation of the sale. In June 2024, 8.6 of U.S. home sales were appraised below the contract price, down from 10.7 a year earlier. Here's the breakdown:










Starter Homes: 9.6 had appraisal gaps, down from 12.1.






Homes of 3,500sf or More: 7.1 had appraisal gaps, down from 8.3.










Ralph’s Take






Although we've been fortunate to avoid appraisal gap issues in our transactions, we prioritize discussing them with every client. Buyers should thoroughly review comparable sales and market trends to determine the fair value of the homes they bid on. Sellers, on the other hand, need to understand appraisal gaps and waivers when considering offers, as these factors can greatly influence the outcome of the sale.







 ]]> </description>
    <pubDate>Tue, 13 Aug 2024 10:30:00 -0400</pubDate>
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