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Michael Gersitz

Michael Gersitz

City of North Tonawanda Real Estate Agent

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External Articles

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For Millennials who want to buy a home right now, the Great Recession still looms large

If the Great Recession never happened, how would potential homebuyers be looking at today’s housing market?  After all, the giant cohort of potential homebuyers now in their late 20s and early 30s was also the generation fresh out of college

Michael Gersitz August 23, 2020 External Articles Read more

Fed purchases of agency MBS total $892 billion

Five months after restarting a bond-buying program last used in the financial crisis, the Federal Reserve has purchased about $892 billion of agency mortgage-backed securities, according to a Fed blog post on Thursday. The asset-buying has helped to drive mortgage

Michael Gersitz August 22, 2020 External Articles Read more

Is the FHFA about to delay the refi fee?

According to reporting by the Wall Street Journal on Saturday, the Federal Housing Finance Agency has been communicating with mortgage industry groups about delaying the implementation of a fee which would add a 0.5% surcharge to refinance mortgages sold to

Michael Gersitz August 22, 2020 External Articles Read more

A coastal exodus? These Century 21 San Francisco agents don’t think so

Although many in the real estate industry say that San Franciscans are relocating to places more inland, some Century 21 agents in the San Francisco and Bay Area beg to differ. Suburban ZIP codes might be more popular these days,

Michael Gersitz August 22, 2020 External Articles Read more

There’s a problem with the data measuring delinquency and forbearance

According to the U.S Census Bureau’s latest Household Pulse Survey, close to 21% of both Black and Hispanic homeowners missed or deferred the previous month’s mortgage payment compared to 10% of white homeowners. However, Jung Hyun Choi, research associate at

Michael Gersitz August 22, 2020 External Articles Read more

Late-term mortgage delinquencies rise on forbearances

The number of seriously delinquent mortgages, meaning payments overdue by 90 days or more, soared to a 10-year high during July in a tally that counts forbearances. There were 2.25 million home loans that were seriously delinquent last month as

Michael Gersitz August 22, 2020 External Articles Read more

Are existing home sales showing a housing bubble?

Today, existing home sales blew out estimates, coming in at 5,860,000. With new home sales, pending home sales, housing starts, housing permits, and purchase applications already in v-shape recovery mode, this last metric completes the v-shaped recovery across the board

Michael Gersitz August 22, 2020 External Articles Read more

Property foreclosure website RealtyTrac prepares for growth with rehire of Rick Sharga

ATTOM Data Solutions’ RealtyTrac, a foreclosure listings and search portal, added industry veteran Rick Sharga back into its ranks earlier this month in a move that foreshadows what the company sees for its future. Sharga will oversee RealtyTrac’s marketing and

Michael Gersitz August 22, 2020 External Articles Read more

Miami Real Estate Market & Investment Overview 2020

As we enter into the 3rd quarter of 2020, Miami remains a buyers’ market and investors need to capitalize on this advantage while it is still there. We will discuss the latest Miami real estate market trends and find out

News Bot August 22, 2020 External Articles Read more

How to Make an Offer on a House

Purchasing your first home is a big move. For some, it represents the independence they’ve been striving for, while others see their home purchase as a path to financial security and a way to create a safe haven for their

News Bot August 21, 2020 External Articles Read more

Home Improvements and Modifications for Aging in Place

Now more than ever before, we’re seeing more adults choosing to live at home as they grow in years, or what is known as aging in place, and maintain their lifestyle for as long as possible, rather than moving into

News Bot August 21, 2020 External Articles Read more

How to Transform a Shed into the Perfect Backyard Office

As working from home continues to become the new norm, you might be feeling like your current home office just isn’t making the cut anymore. If your office doesn’t let in much natural light, or you’re lacking the space for

News Bot August 21, 2020 External Articles Read more

U.S. home sales and median price soar to a record in July

Existing-home sales jumped 25% in July from June, beating the prior record gain of 21% set a month earlier, as low mortgage rates fueled demand for real estate. Sales of single-family homes, townhomes, condominiums, and co-ops rose to a seasonally

Michael Gersitz August 21, 2020 External Articles Read more

People movers: Home Point Financial, Zumper, Total Expert and NAR

Home Point Financial has named Perry Hilzendeger as its president of servicing. A 30-year veteran in the consumer finance and mortgage industry, Hilzendeger will be assisting in the company’s growth, responsible for leading the mortgage servicing team and delivering customer

Michael Gersitz August 21, 2020 External Articles Read more

EasyKnock snares an additional $5 million in Series B funding round

Residential sale-leaseback company EasyKnock has announced a new contributor to its Series B funding round. Viola FinTech has added $5 million to this round of funding, bringing the Series B total to $25 million. EasyKnock’s CEO Jarred Kessler told HousingWire

Michael Gersitz August 21, 2020 External Articles Read more

Former Fed officials urge the Senate to reject Shelton

More than two dozen former Federal Reserve officials wrote a letter to the Senate urging its members to reject Judy Shelton, President Donald Trump’s nominee to one of the empty seats on the Fed’s Board of Governors. The letter cites

Michael Gersitz August 21, 2020 External Articles Read more

DataTrace launches market insight platform for title companies

DataTrace Information Services announced on Thursday its launch of MarketView – a platform that will provide title companies with accurate market insights including existing market share. Title companies will have the ability to search market data nationwide by state, county,

Michael Gersitz August 21, 2020 External Articles Read more

Multifamily confidence increased in second quarter, but vacancies also rose

A new report from the National Association of Home Builders shows confidence in the market for new multifamily housing increased in the second quarter but still remains weak. The Multifamily Production Index rose 10 points to 37, which is still

Michael Gersitz August 21, 2020 External Articles Read more

Fannie Mae and Freddie Mac CEOs address industry on refinance fee grievances

In a combined letter on Thursday, Fannie Mae CEO Hugh Frater and Freddie Mac CEO David Brickman addressed industry criticisms following the GSEs’ announcement last week of an additional 50 basis point fee on refinances starting Sept. 1. After the

Michael Gersitz August 21, 2020 External Articles Read more

Luxury home prices gain steam, but still lag behind gains of less expensive homes

High-end luxury home prices are staying strong after the rollercoaster ride the housing market has been on this year. The median sale price for luxury homes in the U.S. rose 1.2% year over year, to $825,000 in the three months

Michael Gersitz August 21, 2020 External Articles Read more

Jobless claims jump back above 1 million

The number of Americans filing initial claims for jobless benefits rose back above 1 million last week, increasing for the first time in three weeks, as the COVID-19 pandemic fueled layoffs. “The labor market’s recovery remains precarious,” Wells Fargo economists

Michael Gersitz August 21, 2020 External Articles Read more

TransUnion: Consumer credit delinquencies level off in July

For the first time since March, the total percentage of accounts in “financial hardship” for auto, credit card, mortgage and personal loans fell across the board in July, according to a consumer credit snapshot by TransUnion. In particular, the percentage

Michael Gersitz August 21, 2020 External Articles Read more

Zillow launches consumer-generated builder review feature

Buyer-generated content, including consumer reviews of builders, is now available on Zillow and will be viewable on builder profiles, community pages and paid new construction listings. Builder Ratings and Reviews was launched Wednesday and surveys new homeowners at move-in asking

Michael Gersitz August 19, 2020 External Articles Read more

Mortgage applications fall 3.3% as interest rates rise

Mortgage applications fell 3.3% last week after interest rates rose to their highest level in two weeks, according to a report from the Mortgage Bankers Association. The refinance index also fell 5% from the previous week, however, it was 38%

Michael Gersitz August 19, 2020 External Articles Read more
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  • Michael Gersitz
  • Phone: (716)870-5786
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About Me

I am a Real Estate Agent based out of Tonawanda, licensed to buy, sell and lease real estate in New York State! Give me a call, it might be the best decision you ever make!


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