The outlook for office construction in Manhattan is getting darker still. A forecast from the New York Building Congress on Wednesday predicts that the rate of building activity in the borough will stagnate, with around 2 million square feet being added annually through the end of the decade.
This year the group, which is made up of firms in the design, construction and real estate industries, anticipates 2.1 million square feet of offices will be built below 60th Street, a figure that is expected to slump to 1.7 million square feet next year—putting it roughly on par with the amount of space added in 2011.
“We need a stronger performance globally and nationally,” said Richard Anderson, president of the Building Congress. “People don’t put up office buildings without more leasing, assurances and bank financing.”
A lack of demand for space has prevented greater office construction. Roughly 47% less office space was leased in the second quarter of 2012 than the second quarter of the previous year, according to a report from real estate brokerage Cushman & Wakefield Inc. on Tuesday.
One of the reasons is that companies are squeezing more workers into the same amount of space. Office tenants historically used 250 square feet for every worker, on average, rather than the 200 allotted today, according to the Cushman report. Also, there is still plenty of vacant space to go around, with an overall vacancy rate in Manhattan of 9.1% as of the second quarter.
While jobs are being added, the market needs more to spur additional construction. This year, 38,000 office jobs have already been added, compared with 36,000 for all of 2011. But employment remains below its peak in 2008 of almost 1.8 million jobs.
“More than anything else, we need to grow office jobs,” Mr. Anderson said. “We’ve been growing, but it’s been filling up vacant space.”
The Building Congress estimates that this could be the third consecutive decade in which fewer than 20 million square feet of offices will be built. Office construction in the four decades after World War II averaged nearly 5 million square feet annually, according the Building Congress.
But that may not be all bad news for the office market. Rapid building in the past, particularly in the 1980s, was fueled by a larger proportion of spec building, not demand, said Barbara Denham, senior economist for Eastern Consolidated. Many of those buildings sat vacant and pushed rents down, she said.
“It turned out to be a really bad thing for New York’s real estate markets,” Ms. Denham said. “There’s a lot of global uncertainty, but the market should be smarter than it was. Overbuilding is never to anyone’s advantage
Daily Archives: July 11, 2012
Waccabuc Realtor | Mariah Carey’s Bahamas villa for sale
Mariah Carey’s villa in the Bahamas is now up for sale.
The pop stars’ property, located on Windermere Island, was listed on the market more than a year ago, The Real Estalker reveals, but has managed to go for 12 months without being noticed by the press.
How the 4,000 square feet estate, complete with marble walkways, terraces, four pavilions, two garages and a 40-foot long swimming pool, avoided detection is a mystery, but Carey and her partner Nick Cannon attracted headlines in 2008 when they married at the villa, one year after buying the property.
“Reports show she shelled out somewhere around $5,000,000,” adds The Real Estalker. The current asking price for the villa is $5.5 million – a price that should help the couple continue to spend their summer holidaying at a reportedly expensive rental home in the Hamptons.
Chappaqua NY Realtor | Mixed market for Thailand condos
The price of luxury property in Thailand has hit record highs, according to the latest report from CBRE, but the performance of the condominium sector has been mixed depending on property type and location.
The highest quality properties in the prime locations are hitting the top prices, thanks to a limited supply of two- and three-bedroom units, CBRE reveals, but “these price rises have not been seen in every recently completed building.”
The prices of one-bedroom condos are more mixed: some projects launched in the last two years have not sold out at all.
“Generally the best performing projects have been those closest to transit stations,” says Aliwassa Pathnadabutr, managing director of CBRE Thailand. “In some areas the one bedroom sector is going to come under pressures from developers’ unsold inventory and shadow inventory from units bought by speculative buyers who want to resell before completion.”
“We expect that developers will become more selective about location focusing on mass transit stations. The challenge for developers will be to acquire land at a price where they can still build condominiums that are within the purchasers’ maximum budgets,” adds Pathnadabutr.
“The choice is either to buy cheaper land away from mass transit stations or to reduce the size of the units. Developers are trying to balance affordability with usability.”
“In the middle and entry-level markets, condominium prices have adjusted upwards, but to a lesser extent than the luxury market. There continues to be new project launches although the absorption rate is slower compared to two years ago where many projects tended to sell out at launch. The top public listed developers dominate this segment of the market,” explains Pathnadabutr.
The total completed supply in down Bangkok reached 93,593 units, an increase of 6.1 per cent from last year, while the total number of units occupied by owners or tenants increased by 73 per cent from the the last quarter of 2011 to the first quarter of this year.
Vacancy rates will rise in older buildings, particularly those which have units available for rent as tenants will prefer to lease units in new buildings. The Pathumwan area has the highest occupancy rate of 92 per cent.
Average resale prices of completed upscale units has grown by 13 per cent from 2011, rising from THB124,895 per square metre in the first three months of last year to THB140,851 per square metre. To get the best prices for condos in Thailand , check out Siam Real Estate.
Total apartment supply in downtown Bangkok edged upwards by 0.1 per cent year-on-year, while occupancy rate dropped from 89.5 per cent at the end of 2011 to 86.6 per cent. This quarterly decrease is in line with expectations that occupancy rates, which were artificially inflated by people seeking temporary residence during the flooding in the last quarter of last year, would fall as short-term contracts expired.
Living in Italy | Cross River Realtor
Lifestyle Activities
Fishing, City, Beach, Ski, Rural, Coastal, Cycling, Hiking, Historic Sites, Mountain, Suburban, Village, Watersports, Hills, Riverside, Woods
Amenities & Services
Tennis Court, Restaurants, Tourist Attractions, Train Station
Building Characteristics
Mediterranean Style, 1 Storey
Property Features
Balcony, Terrace, Fitted Bathroom, Internet Access, Views
Fixtures, Fittings, Furnishings
Satellite / Cable TV, Shower, Telephone
Investment Features
Low Risk Profile, Tourist Rentals
Full Description
UNIQUE LIFESTYLE MEETS BEST VALUE
In an authentic village setting, taken straight from an Italian picture book and in a uniquely scenic, but very central location in the never ending spring of the Riviera of Flowers, only 10 km/6 mi from the sea and 75 km/46 mi away from nice international airport lies a charming domicile which is eminently suitable for lovers of fine art and exclusive Mediterranean décor. Just by the way it´s an outstanding financial investment that was recently recommended by German’s leading business magazine ‘Capital’ .
The historic 17th century house has been lovingly restored by an internationally acclaimed artist and an experienced German property developer. Their aim was to create a “house of art”, well off the tourist trail while still easily accessible from anywhere in Europe. It fuses the authentic spirits of the medieval walls, Italian lifestyle, contemporary living comfort, the natural setting of the “Monti e Mare – Mountains and the Sea” and art as a living environment. The property was completed in 2007 and has been occupied by the original creators since then.
Look forward to discovering this unique 193m²/2075 sq. ft. bi-level living experience with timeless design and a unique ambience. Enjoy the incomparably mild and sunny microclimate of the Riviera of Flowers, breathtaking views, overwhelming silence; direct access to unspoilt nature and the sea with some of the very few beautiful sand beaches on the Costa Ponente nearby. Discover one of the most attractive properties in the region and unique lifestyle together with superior returns and value enhancement. The sale is being made directly by the owners and will be without sales commission. Welcome to Project montalto21…
Further information and offers see www.ikp21.de/montalto21_english
MAGIC MEDIEVAL MEETS MODERN COMFORTS
* Completely restored in 2007, artistically created, 9 room 17th Century house in a beguiling natural location on the Riviera of Flowers
* Direct neighborhood to Europe’s most valuable seaside locations (see ranking of Germany’s leading business magazine ‘Capital’)
* Just 10 km/6 mi to the beach, 21 km/13 to San Remo, 75 km/46 mi to Nice international airport
* Spectacular valley slope location overlooking the course of the Carpesina river
* Best and highest location of the medieval village
* 7 m²/75 sq. ft. balcony with unobstructable valley views, directly adjoined to the living-dining area
* 18m²/193 sq. ft. south-west-terrace with unobstructable panoramic views directly adjoined to the upper level living room.
* Ceiling heights of up to 5 m/16 ft.
* Spacious kitchen-cum-living-room
* Open, antique fireplace featuring bricked in Michelangelo-Relief “Madonna of the Stairs” (valuable museum´s highend reproduction created by a negative mould of the original)
* Tuscan style stove
* Two living rooms or large living-dining area on the lower level
* Living room with library/office on the upper level
* 4 Bed/Guest/Children’s rooms
* 1 Studio (could be used as a Bed/Guest/Children’s room if required)
* Large bathroom with free standing “bateau” bathtub and fresco paintings
* Guest shower room
* Partly new, partly antique doors
* New flooring – partly tiled, partly parquet
* New roof
* New ceilings
* New windows
* New electrical wiring installation
* New sanitary installation
* New central heating with alternative energy recovery (wood pellet oven)
* Restored façade
* 18 m²/193 sq.ft. cellar
* Very low basic such as operating costs
* Just approx. € 7.000 for ground tax and registration
* Fittings and/or artwork may, if desired, be acquired from the owners
* Creator´s Certificate by the artist
* Approx. € 40.000/year income by holiday home rental
* FREE OF COMMISSION directly from the owner
SLEEPING BEAUTY MEETS GREAT TRAVEL CONNECTIONS
The medieval Montalto Ligure lies in the foothills of the Alpes Maritime at a height of 315 meters above sea level on a hillside. The car-free, peaceful and tranquil village-beauty is populated by a cosmopolitan community of 350 inhabitants, just for pedestrians and an ‘Italian Cultural Monument’ itself. The local area is characterized by terraced and river landscapes, chestnut forests and olive groves as well as unspoilt nature. There are many inviting natural pools along the river courses which are suitable for swimming, angling or sunbathing. Countless walking paths and mountain roads lead to evermore discoveries. Whether on foot, by bike, motorcycle or in a convertible; unforgettable impressions, fantastic views and contemplative moments in Mother Nature’s beauty wait around every corner.
montalto21 is located on a spectacular valley slope above the course of the river Carpesina. Car park, Grocery shop, village bar and a very good restaurant are next door. Next town Badalucco is 2 km/1.2 mi, Arma di Taggia and the sea 10km/6 mi distant. Sanremo lies 21 km/13 mi to the west, Imperia 30 km/19 mi to the east. Liguria borders with France 45 km/28 mi to the west. Monaco is 61km/38 mi, the Cote d’Azur 65 km/40 mi, Nice International Airport only 75 km/46 mi away.
To the north the foothills merges with the Alps Maritimes. The nearest ski area is less than 100 km/62 mi distant in bordering Piemont, the regions of Lombardy (Lake Maggiore, Lake Como, Lake Lugano) and Emilia Romagna less then 150 km/93 mi away. Amazing Cinque Terre and Tuscany are 250 km/155 mi distant. Individual big italien City flair can be found in Genoa/Genova (150 km/93 mi), Turin/Torino (180 km/112 mi), Milan/Milano (270 km/168 mi) or Florence/Firenze (380 km/236 mi). Not to forgert the globally unique, maritime string of pearls along the coast next door: Menton, Bordighera, San Lorenzo al Mare, Lagueglia, Alassio, Finale Ligure .
Wiki, What is mold? | Pound Ridge Realtor
Wiki, What is mold? | Pound Ridge Realtor
The colloquial term mold (or mould; see spelling differences) is applied to a large and taxonomically diverse number of fungal species where their growth results in a moldy appearance of objects, especially food.[1] The objects become discolored by a layer of fungal growth. Molds are fungi that grow in the form of multicellular filaments called hyphae.[2] [3] A connected network of these tubular branching hyphae, called a mycelium, is considered a single organism. The hyphae are generally transparent, so the mycelium appears like very fine, fluffy white threads over the surface. Cross-walls (septa) may delimit connected compartments along the hypha, each containing one or multiple, genetically identical nuclei. The dusty texture of many molds is caused by profuse numbers of asexual spores conidia formed by differentiation at the ends of hyphae. The mode of formation and shape of these spores is traditionally used to classify the mold fungi.[4]Many of these spores are colored, making the fungus much more obvious to the human eye at this stage in its life-cycle. In contrast, fungi that can adopt a single celled growth habit are called yeasts.
Molds are considered to be microbes and do not form a specific taxonomic or phylogenetic grouping, but can be found in the divisionsZygomycota and Ascomycota. In the past, most molds were classified within the Deuteromycota.[5] Molds cause biodegradation of natural materials, that can be unwanted when it becomes food spoilage or damage to property. They also play important roles in biotechnology and food science in the production of various foods, beverages, antibiotics, pharmaceuticals and enzymes. Some diseases of animals and humans can be caused by molds, usually as a result of allergic sensitivity to their spores or caused by toxic compounds produced as molds grow [2]
Contents
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[edit]Biology
There are thousands of known species of molds which have diverse life-styles including saprotrophs, mesophiles, psychrophiles andthermophiles and a very few opportunistic pathogens.[6] They all require moisture for growth and there are some aquatic species. Like all fungi, molds derive energy not through photosynthesis but from the organic matter on which they live, utilising heterotrophy. Typically, molds secrete hydrolytic enzymes, from the hyphal tips. These enzymes degrade complex biopolymers such as starch, cellulose andlignin into simpler substances which can be absorbed by the hyphae. In this way molds play a major role in causing decomposition of organic material, enabling the recycling of nutrients throughout ecosystems. Many molds also synthesise mycotoxins and siderophoreswhich, together with lytic enzymes, inhibit the growth of competing microorganisms.
Molds reproduce through producing very large numbers of small spores,[6] which may contain a single nucleus or be multinucleate. Mold spores can be asexual (the products of mitosis) or sexual (the products of meiosis); many species can produce both types. Mold spores may remain airborne indefinitely, may cling to clothing or fur or may be able to survive extremes of temperature and pressure.
Although molds grow on dead organic matter everywhere in nature, their presence is visible to the unaided eye only when mold coloniesgrow. A mold colony does not consist of discrete organisms but of an interconnected network of hyphae called a mycelium. All growth occurs at hyphal tips, with cytoplasm and organelles flowing forwards as the hyphae advance over or through new food sources. Nutrients are absorbed at the hyphal tip. In artificial environments such as buildings, humidity and temperature are often stable enough to foster the growth of mold colonies, commonly seen as a downy or furry coating growing on food or other surfaces.
Few molds can begin growing at 4 °C (39 °F), the temperature within a typical refrigerator, or less. When conditions do not enable growth to take place, molds may remain alive in a dormant state depending on the species, within a large range of temperatures before they die. The many different mold species vary enormously in their tolerance to temperature and humidity extremes. Certain molds can survive harsh conditions such as the snow-covered soils of Antarctica, refrigeration, highly acidic solvents, anti-bacterial soap and even petroleum products such as jet fuel.
Xerophilic molds use the humidity in the air as their only water source; other molds need more moisture.
[edit]Common molds
[edit]Food production
The Kōji (麹?) molds are a group of Aspergillus species, notably Aspergillus oryzae, and secondarily A. sojae, that have been cultured in eastern Asia for many centuries. They are used to ferment a soybean and wheat mixture to make soybean paste and soy sauce. Kojimolds break down the starch in rice, barley, sweet potatoes, etc., a process called saccharification, in the production of sake, shōchūand other distilled spirits. Koji molds are also used in the preparation of Katsuobushi.
Red rice yeast is a product of the mold Monascus purpureus grown on rice, and is common in Asian diets. The yeast contains several compounds collectively known asmonacolins, which are known to inhibit cholesterol synthesis.[7] A study has shown that red rice yeast used as a dietary supplement, combined with fish oil and healthy lifestyle changes, may help reduce “bad” cholesterol as effectively as certain commercial statin drugs.[8]
Some sausages, such as salami, use starter cultures[9] in their production, to improve flavour and reduce spoilage during curing.
Other molds that have been used in food production include:
- Fusarium venenatum – quorn
- Geotrichum candidum – cheese
- Neurospora sitophila – oncom
- Penicillium spp. – cheese
- Rhizomucor miehei – rennet for making vegetarian and other cheese
- Rhizopus oligosporus – tempeh
- Ustilago maydis – filling in tortilla-based foods
[edit]Pharmaceuticals from molds
Alexander Fleming‘s famous discovery of the antibiotic penicillin involved the mold Penicillium, although the species identity is disputed (Penicillium notatum, Penicillium chrysogenum or Penicillium rubens). [10]
Several of the statin cholesterol-lowering drugs (such as Lovastatin, from Aspergillus terreus) are derived from molds.[11]
Howard Florey, Ernst Chain, Norman Heatley, Edward Abraham and teams of scientists in the UK and USA developed industrial-scale production of penicillin between 1941-45 and arguable started the use of antibiotics in medicine. [12] [13]
The immunosuppressant drug cyclosporine, used to suppress the rejection of transplanted organs, is derived from the mold Tolypocladium inflatum.
[edit]Health effects
Main article: Mold health issuesMolds are ubiquitous in nature, and mold spores are a common component of household and workplace dust. However, when mold spores are present in large quantities, they can present a health hazard to humans, potentially causing allergic reactions and respiratory problems.
Some molds also produce mycotoxins that can pose serious health risks to humans and animals. Some studies claim that exposure to high levels of mycotoxins can lead to neurological problems and in some cases death. Prolonged exposure, e.g. daily home exposure, may be particularly harmful. Research on the health effects of mold has not been conclusive.[14] The term “toxic mold” refers to molds that produce mycotoxins, such as Stachybotrys chartarum, and not to all molds in general.[15].These toxic properties may also be used to the benefit of humans Eg. penicillin from penicillium and so on. In low doses these toxins that could otherwise be deadly can be controlled to our benefit to fight of infection.
Mold in the home can usually be found in damp, dark or steamy areas e.g. bathroom or kitchen, cluttered storage areas, recently flooded areas, basement areas, plumbing spaces, areas with poor ventilation and outdoors in humid environments. Symptoms caused by mold allergy are watery, itchy eyes, a chronic cough, headaches or migraines, difficulty breathing, rashes, tiredness, sinus problems, nasal blockage and frequent sneezing.
[edit]Growth in buildings and homes
Main articles: Mold growth, assessment, and remediation and Indoor air qualityMold growth in buildings can lead to a variety of health problems. Various practices can be followed to mitigate mold issues in buildings, the most important of which is to reduce moisture levels that can facilitate mold growth.[15] Removal of affected materials after the source of moisture has been reduced and/or eliminated may be necessary for remediation.
North Salem NY Homes | Greater Manchester residents stump up an extra £12,000 for a train station
Greater Manchester is served by 90 railway stations and 41 Metrolink stops. In 2010-11 there were over 48 million passenger journeys made by rail within Greater Manchester. So it is no surprise, perhaps, that Greater Manchester residents stump up an extra £12,000 to live near a train station, according to new research.
A report from Nationwide shows that a property 500m from the nearest station compared with a similar property 1,500 carries a significant premium of 7.3 per cent on its price.
Commenting on the figures, Robert Gardner, Nationwide’s Chief Economist, said: “Our research illustrates that people are willing to pay a significant premium to be close to a station. As you would expect, the premium that people are willing to pay increases as you move closer to a station. A property located 1,000m from a station commands a 3.3% premium, at 750m this increases to 5.2% and for a property 500m from the station the premium is 7.3%.”
“65% of properties in Greater Manchester are within 1,500m of a station,” adds Gardner. “The areas that are least well served are currently Oldham and Rochdale, following the closure of the Oldham Loop line. However, Metrolink Phase 3 plans to restore the line from Victoria to Rochdale, which would improve access in this area in the years ahead.
“In addition to the Oldham line, further extensions of the Metrolink system should help improve transport accessibility in the Greater Manchester area. The South Manchester line will extend from St Werburgh’s Road to East Didsbury, via the popular Didsbury village. Meanwhile, the first phase of the East Manchester line from Piccadilly to Droylsden in Tameside is due to open later this year, with a further extension planned to Ashton-under-Lyne.
“Network Rail’s Northern Hub plans should also benefit residents in Greater Manchester, with improved rail services across the area and beyond to cities such as Liverpool, Leeds and Sheffield. Part of these plans includes the construction of the Ordsall chord, which will provide a direct rail connection between Victoria and Piccadilly stations.”
But even with more stations on the way, Manchester’s homeowners are less keen on transport than those who live in London, where residents pay a far higher premium to live close to a station.
Gardner continues: “While Mancunians clearly place a significant value on proximity to rail links, the evidence suggests that they aren’t willing to pay quite as much extra to be near them as their London counterparts. This probably reflects the greater reliance on public transport in the capital, with residents less likely to drive to and from work. “
Armonk NY Homes | Property Infographic – At a Glance: Germany
Berlin is the big boy in Germany’s property market, according to the latest At A Glance infographic from TheMoveChannel.com. The infographic, based on activity on the property portal over the last 12 months, shows that over half of buyers looking for property in Germany head straight to the capital city state.
Berlin dominated demand from investors, taking over 55.38 per cent of enquiries for German real estate on the site between July 2011 and June 2012. Saxony was the second most popular region, accounting for 21.09 per cent of enquiries.
Together, the two areas outpaced the rest of the country, accounting for over three-quarters of buyer enquiries. Indeed, the closest contender was third-place Bremen, which only took 5.96 per cent of enquiries in the last year; not even one-tenth of Berlin’s total.
The capital also leads the way for location searches on the site, with 41.19 per cent of buyers beginning their hunt by looking for real estate in Berlin. Given the popularity of Saxony property, it is no surprise that the region’s two biggest cities, Leipzig and Dresden, are in the top 10 searched-for locations too. Indeed, Leipzig accounted for 9.62 per cent of searches, the second highest after Berlin. Together, these top two locations were the target of over half of German-based searches on the site.
The At a Glance series also analyses property buyers’ search behaviour on Google over the last 12 months. The period between June and August is when buyer activity visibly peaks, but the infographic reveals a striking preference for “villas for sale in Germany” and “apartments for sale in Germany”; a rare instance of when houses are the not the most popular type of property in a European country.
Indeed, “houses for sale in Germany” featured in almost no Google searches at all over the last year, with investors more keen to locate “holiday homes” instead. Nonetheless, apartments and villas proved far more popular, consistently generating over twice as many enquiries as holiday homes.
Editor Ivan Radford comments: “Like many of the traditional lifestyle destinations, Germany’s property market appears driven by a core group of regions. This gives the impression of a vacation-driven market, something supported by the number of Google searches for holiday homes. With the eurozone crisis spreading uncertainty through more familiar countries, are people turning to Germany’s stable economy for their second homes? Or are they looking for a real estate investment with a more reliable return? The number of tourist hotspots, such as Frankfurt and Stuttgart, in the top 10 searched-for cities could suggest either, but it’s easy to see that Berlin’s strong property market is beneficial for both types of buyers.
“It’s no surprise, then, to see the capital far out in front across the chart. Indeed, the high number of enquiries within the city state suggests that investors are not only looking specifically for property in Berlin – but more importantly, that they’re finding what they’re looking for.”
Why Social Media Is Killing Your Business | Waccabuc Real Estate
f you spend some time reading business articles, you are bound to come across those that contain glowing remarks about using social media. Probably 99 percent of the articles out there, whether in magazines or on blogs and commentaries, insist that you need to be on social media. They speak for the 99 percent, after all (that’s a little fun jab at the Wall Street occupiers). But before you throw your efforts into building a buzz on the social media bandwagon, you may want to re-think your efforts, and here’s why!
Too many people today are participating in social media efforts to the exclusion of using traditional routes, such as good old fashioned networking. (Remember, when we used to meet people face to face and shake hands?) Going completely digital and bypassing face time is detrimental to your business for a number of reasons, including:
• All that social media makes you feel bad about yourself. If you haven’t yet realized this little fact, start paying attention! Check out the majority of posts on Twitter and Facebook, and you will see that they are overwhelmingly positive. It makes sense, after all, because nobody wants to share misery with their audience. So what happens is that post after post is a celebration. Reading all those positive, amazing things at a certain point can make you feel bad about yourself, as if you aren’t keeping up. So here’s the tip – first, recognize that social media is not a representation of reality and, second, read it less and you will feel better about yourself!
• Many people, perhaps even you, feel that communication on social media is just as good as – or perhaps even better than – being face to face. After all, it’s fast, it’s direct, it’s easy. Sure, it requires less effort on everyone’s part…but is that necessarily a good thing? Take that client that you’ve been pursuing and talking with via Twitter. If your competitor simply meets with them face to face, they have a major advantage! They are real, after all. Real people are trusted more than electronics. And really your Twitter communication could be a spammer trying to in the end, sell you something.
• You lose efficiency. You have to know this! You may think you are saving time by using social media sites, but they can be addicting. Before you know it, an hour has gone by, and your productivity tanks! I bet, like most people, you are most productive when no one else distracts you and your email is turned off. It isn’t much of a stretch to see that fewer distractions occurring less frequently result in more productivity. Social media, with its constant stream of updates, kills efficiency and productivity.• Shorter and shorter relationships result. Social media is great for building an instant relationship, albeit a shallow one. But to attain that greater ability to communicate with more and more people, the trade-off is that your connections become more and more shallow. Deep relationships that are long-term and trusting are the foundation of a great business. Social medial alone might be quick at building a house of cards, but it is a house of cards, nonetheless.
All the social media in the world can never replace simply meeting someone face to face and having a conversation. Social media lacks the depth that is involved in real meetings. Through social media, everyone remains a screen name, so the relationships stays distant, which makes it challenging to move it forward and let it flourish.
When you opt for a real networking opportunity, there is the chance to truly get to know someone and make a connection. It is those connections that bond us together and will help your business to thrive. Get back to the basics of looking people in the eye, and see how much better you, and your prospects, feel as a result!
Maryland court limits chain of title challenges post-foreclosure | Mount Kisco NY Real Estate
A new opinion from the Maryland Court of Appeals limits the amount of time homeowners have to challenge chain of title defects when dealing with a foreclosure.
The ruling essentially prohibits homeowners from raising title defect issues in court after a foreclosure sale is already complete.
The case in question — Thomas v. Nadel — essentially says chain of title defects cannot be classified as “frauds on the system;” therefore, the homeowner in question is barred from raising concerns about gaps in ownership on the underlying promissory note when a foreclosure sale is already complete.
“The borrowers claimed that the note was transferred to an entity that did not exist at the time of the transfer, and therefore a subsequent transfer to the foreclosing lender was ineffective,” attorneys with Ballard Spahr wrote in a recent analysis of the case.
The decision follows the court’s opinion in Bates v. Cohn, which said a borrower challenging a foreclosure must make their claim and defenses known in advance of the foreclosure sale. The Bates case left room for borrowers to bring up foreclosure issues after the foreclosure sale as long as those issues are a product of some type of fraud or meet other exceptions.
The homeowners in Thomas v. Nadel claimed in court records that the alleged title defects they discovered met the fraud exception. But the court disagreed, saying the alleged chain of title issue is not an exception and needs to be raised before the foreclosure sale to survive.
“It was really more of a procedural question,” said Scott Borison, an attorney with the Legg Law Firm in Maryland, where he represents homeowners. He says the earlier case — Bates v. Cohn — established exceptions in Maryland that allow for some post-foreclosure claims.
The Thomas case limits the Bates decision further by saying post-sale, a chain of title issue does not constitute a fraud, making it impossible for the borrower to advance a defective title claim after a foreclosure sale is finalized.
“It seems like a little bit of an overreaction to me,” Borison said. “It’s not like exceptions can come in and be filed eight years later, even the exceptions have a time frame.”
But, he says, the takeaway is simple: Homeowners “cannot raise any chain of title defects if they do not raise them prior to the foreclosure sale.” He added, “There may be a limited category that you can raise post-sale, but most of the issues borrowers are going to raise will expire once the foreclosure occurs.”
Mortgage applications fall 2.1% | Bedford Corners NY Real Estate
Mortgage applications fell 2.1% last week, the Mortgage Bankers Association said Wednesday.
The trade group’s results were adjusted for the July 4th holiday.
The refinance index alone declined 3% from the previous week, while the purchase index increased 3%, suggesting an uptick in home buying activity while refinancings cooled.
The refinance share of mortgage activity declined to 77% of total applications, while the adjustable-rate mortgage share of activity remained around 4% of all applications.
The average loan size of all loans purchased hit $240,897 in June, down from $243,722 in May. Meanwhile, the average loan size under refinancing hit $218,619, down from $243,733 the previous month.
The average contract interest rate for a 30-year, fixed-rate mortgage with a conforming loan balance of $417,500 or less declined to 3.79%, the lowest rate in the survey’s history. In addition, the average contract interest rate for the 30-year, fixed-rate mortgages with a jumbo loan balance declined from 4.08% to 4.05%.
The average rate for 30-year, FRM’s backed by the FHA declined from 3.69% to 3.63%. Meanwhile, the 15-year, FRM fell from 3.20% to 3.15%, and the average rate for 5/1 ARMs declined from 2.76% to 2.71%.