MarketWatch: Weekly Real Estate Update for Riverdale, Bronx – 1/6/2025 – 1/13/2025

Did You Know?

* Often a garage door is the first thing you see when driving up to a home…..and making that look good may offer a return on investment of 194%, the highest of any home improvement. Installing a door that can withstand hurricane strength winds may be a value-add too: Wind Code Ratings range from W1 to W9, with W9 being the highest. (WSJ)

* 70% of the TOP 20 fastest growing cities in the US in 2024 are located in….TEXAS! All TOP 20 have a population of at least 20,000 but less than 105,000. (worldpopulationreview.com)

* Roborock’s latest robotic vacuum cleaner the Saro Z70 is equipped with a mechanical arm that can pick up and remove obstacles in its path. An array of cameras and sensors allows the robot to process visual information and determine anything you may have left on the floor. You can even use the company’s app to program the arm so that it knows to put your dirty socks in the hamper every time it comes across them. The Saros Z70 is expected to start around $2,000 when it goes on sale later this year.

* John Deere’s robotic lawnmower is equipped with four pairs of stereo equipment positioned atop the vehicle to allow for a 360-degree view. The mower is aimed at commercial clients but could come in handy for anyone struggling to keep their sprawling country estate looking sharp. (CES)

* DISPLACE’s Pro TV models – available with either a 27- or 55-inch display – is equipped with 4 large suction cups that allow it to stick to the wall without a mount. The TV also comes with a built-in battery and detachable speakers so you don’t have to deal with any pesky wires hanging down either. Pricing starts at $3,999. (CES)

Mortgage Rate Updates:

The average rate on a 30-year fixed mortgage backed by Freddie Mac rose to 6.93% as of January 9th, the highest since early July. This uptick aligns with the rise in borrowing costs amid concerns over inflation, potential tariff increases under the incoming Trump administration, and a hawkish Federal Reserve. “In the first full week of the new year, the 30-year fixed-rate mortgage remained elevated at just under 7 percent. The continued strength of the economy has put upward pressure on mortgage rates, and along with high home prices, continues to impact housing affordability. The lack of entry-level supply also remains an issue, especially for those looking to become first-time homeowners,” said Sam Khater, Freddie Mac’s Chief Economist.

Source: Freddie Mac