Lehong Attorneys at Law

05/29/2023

Today and every day we honor those who lost their lives serving our country. We wish you and your loved ones a very safe and happy Memorial Day as you reflect on freedom and gratitude. 🇺🇸

05/26/2023

Has anyone been here yet?

The newest addition to Worcester’s Canal District takes its slogan, “Catch flights, not feelings,” very seriously, offering drink flights, food and karaoke fun.

“There’s a lot of new, up-and-coming restaurants, so we’ll slip right into that crowd,” says Blackstone Herbs and Martini Bar owner.

We love all the entertainment, dining and nightlife options our city has to offer — let us know if you stop by this weekend! 🍸

Two words: cheesecake flight. Blackstone Herbs and Martini Bar in Worcester specializes in food and drink flights and is open 12 to 8 p.m. this week.

05/24/2023

Go North High basketball team! 👏

Worcester title team honored.

05/18/2023

The Massachusetts housing market can be brutal, but it's not all bad news! Home prices weren't going up in Greater Boston at a breakneck speed last month and there are more listings available than this time last year.

Is this the glimmer of hope we've been waiting for? https://www.boston.com/real-estate/real-estate/2023/03/22/mass-housing-market-update-brutal-but-good-news/.

What are your thoughts on the Massachusetts housing market? Share your thoughts with us!

Home prices didn't climb at a breakneck speed in Greater Boston last month, and more listings are on the market than this time last year.

05/16/2023

According to Morgan Stanley, the housing cycle is in fact bottoming, but don't expect a dramatic rebound.

So, the question is: Will the U.S. manage to avoid a bad recession despite the market's volatility? Share your thoughts below!
https://markets.businessinsider.com/news/commodities/housing-market-bottom-recession-economy-mortgage-rates-house-prices-2023-4

05/10/2023

Observers have pointed to many similarities between the current downturn in the housing market and the factors that led up to the housing crash of 2006.

Yet, economist Yelena Maleyev of KPMG contends that many of the underlying conditions have remained strong, and that the current dip is largely attributed to a rapid rise in mortgage interest rates, which recently leapt from below 3% to the high 6% range.

To gain a greater understanding of the facts and forecasts regarding both scenarios, click the link below. https://www.realtor.com/news/trends/its-deja-vu-in-the-housing-market-is-it-2006-all-over-again/.

Skyrocketing home prices have leveled off. Recession fears are swirling. The number of home sales has dropped. Is it 2006 all over again?

05/08/2023

This kind review just about sums up our entire mission and set of goals. 😊

05/02/2023

The Greater Boston housing market continues to remain much the same this spring, with declining sales, increased prices, and scarce inventory.

According to the recent housing statistics report from the Massachusetts Association of Realtors, March saw a 22.7% decrease in new single-family home listings and a 24.8% decrease in new condo listings, with closed sales falling by 16.2% and 19.8% respectively.

What do these market trends mean for your city? Are you seeing similar declines? Share your thoughts with us in the comments! https://www.bostonmagazine.com/property/2023/04/27/march-2023-market-recap/.

Where have all the houses gone?

04/30/2023

Last week saw an increase in the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances to 6.55%, up from 6.43%.

Despite this, mortgage applications to purchase a home increased 5%, and those seeking to refinance saw a 2% increase.

However, since the same time last year, refinance applications have dropped by 51%.

Mortgage demand rebounded despite a rise in interest rates, as homebuyers take advantage of easing house prices.

04/25/2023

Agents, does this rookie buyer mistake drive you crazy? 😆

And have you ever had a client succeed at it?!

It's tempting to try to bargain your way into that gorgeous million-dollar house, but experts caution homebuyers against making this big mistake.

04/19/2023

You read that headline right. 🔍 A growing number of Gen Zers aren't just looking to buy homes for themselves, but they're turning to real estate investing as an escape from the traditional 9-to-5.

In general, Gen Zers have a rosier view of real-estate investing than millennials.

✔️ In a 2020 survey by Gen Z Planet, a research and advisory firm, 87% of Gen Z respondents said they wanted to own a home in the future, while just 63% of millennial respondents said the same.
✔️ The survey suggested that 68% of Gen Zers viewed homeownership as a way to build wealth, compared with 60% of millennials.

Unlike millennials before them, Gen Z has grown up during a home price boom. Now they're using tech to claim their share of the real-estate profits.