Daily Archives: November 28, 2012

Pound Ridge sales up 12% – Prices down 17% | RobReportBlog | Pound Ridge NY Real Estate Report

Pound Ridge NY sales up 12% – Prices down 17%  |  RobReportBlog

Pound Ridge Real Estate Report  –  past six months

2012

36             homes sold

$675,000   median sold price

$355,000    low price

$2,875,500  high price

3230          ave. size

$269          ave price per foot

184            ave. DOM

92.82         ave sold to ask

$885,537  average sold price

End Fannie Mae and Freddie Mac Now: Menendez–Boxer Bill Not the Solution | Katonah Realtor

It is time to end Fannie Mae and Freddie Mac. For over four years, Congress has failed to start the process of phasing out the two failed mortgage finance giants and replace them with a private-sector mortgage finance system. Most of the time, opponents used the excuse that housing markets were just too weak to do anything that might delay the housing recovery, leaving both entities to languish under the control of the Federal Housing Finance Agency (FHFA).

Instead, some in Congress and the Obama Administration have focused on a series of generally unsuccessful efforts to enable borrowers whose homes are now worth less than they owe to refinance the loans.[1] Undeterred by the underperformance of these programs, several Senators have decided to try again. Senate Majority Leader Harry Reid (D–NV) is expected to schedule Senate consideration in the lame-duck session of another refinancing bill by Senators Robert Menendez (D–NJ) and Barbara Boxer (D–CA).

As with past efforts, their approach would be a policy mistake. Congress should skip the sideshow and move instead to the main event of ending Fannie Mae and Freddie Mac.

Rationale for Mass Refinancing Is Ending

Driven by housing activists, Congress, and the executive branch, government agencies have focused on encouraging lenders to refinance underwater mortgages since mid-2007. Supporters justified their approach by noting that falling housing prices made it virtually impossible for borrowers to reduce the loans to a point where the worth of their houses would equal the amount that they owed. This has led many homeowners to simply walk away from their obligations, leaving their houses to be repossessed and further lowering property values in the area.

However, most of these programs have actually helped only a relatively small number of borrowers.[2] A recovering market with gradually rising prices will do much more to enable underwater borrowers to return to building equity. And there are firm signs that the long-awaited housing recovery is well underway, which would further obviate the need for mass refinancing.

In the third quarter, median sales prices increased over those of last year in 120 of 149 metropolitan areas,[3] with prices increasing an average of 5 percent over those of a year ago, the largest 12-month gain since July 2006. In addition, inventories are shrinking, with only 2.32 million existing homes available, a 20 percent drop from the same period in 2011, while the national median price of a single-family home has risen by 7.6 percent over the past 12 months.

The Latest 27 Social Media Facts, Figures and Statistics for 2012 – Infographic | Mt Kisco Real Estate

Since I first joined Facebook over four years ago the social media landscape has continued to evolve at a rapid pace. It also has become more fun with the addition of Instagram and Pinterest.The Latest 27 Social Media Facts Figures and Statistics for 2012 - Infographic

What I like to see is that the big boys are not having it all their own way.

Google thought Facebook was just a fad that would go away.  For a while there Twitter looked like it would be a super nova that exploded with growth and then fade into oblivion. But neither of these events have occurred and social media has moved from fad to mainstream.

The women are the major participants on Pinterest.  This is validated when you look at the  Pinterest demographics and also notice that the top five pinners with millions of followers are female. When I participate on Pinterest it seems as if I am male voyeur listening in on visual  conversations dominated by women. It is a bit like dropping into a women’s fashion store or lingerie shop. You know that it is OK to be there but it doesn’t feel quite right.

Two Significant Trends in Social Media

There are two trends that have emerged in the last two years that have changed the  social media landscape and fabric.

  1. Visualisation of content: This is obvious when you see the rapid rise of Pinterest and Instagram and the evolution of larger images on Facebook and its user interface. Google+ had realised this when it launched last year with its feature and function sets applying a highly visual format.
  2. Mobile use and sharing: Instagram is the leader of this trend and is one of the reasons that Facebook made a $1 billion purchase of a non profitable company (Instagram) with only 16 employees.

These trends have also impacted web design and online shopping with Amazon changing its design and layout to a Pinterest styled home page  ”feed” 

Social Media Statistics

There are some surprising statistics that indicate the growth and impact the social web has created in just a few short years.

  • 350 million plus users suffer from “Facebook addiction syndrome”
  • If Twitter was a country it would be the 12th largest in the world
  • LinkedIn signs up 2 new members every second
  • The average visitor spends 15 minutes a day on YouTube
  • Three million new blogs come online every month
  • 97% of the fans on Pinterest’s Facebook page are women
  • 5 million images are uploaded to Instagram every day
  • The Google +1 button is used 5 billion times every day

Want to find out more?, Check out this Infographic.

The latest social media statistics for 2012

Source: Infographic by Go-Globe and the data source is from PRDaily.

What About You?

Where do you think social media is heading? What is your favorite statistic or fact?

Is Facebook annoying you with its Edgerank limitation of updates on Timelines.

Look forward to reading your thoughts in the comments below.

 

 

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Holiday home sale can work in seller’s favor | Bedford Hills NY Homes

Year end seems like an odd time to sell your home. However, it has been a long time since we’ve seen a home sale market that approximated normal. So, I wouldn’t necessarily abide by the guidelines that applied to another time.

2011 was a lackluster year for the housing market. The spring and summer markets, usually a busy time for home sales, were sluggish. The market picked up in November 2011. Many sellers who chose to sell then had a successful result.

Several factors contributed to this. Interest rates were low. The bad global news — the catastrophic earthquake in Japan, Greece on the edge of bankruptcy, problems in the eurozone, and a stuck-in-the-mud unemployment rate — had been absorbed and digested by consumers. Buyers began to believe that home prices were bottoming; there were years’ worth of pent-up demand.

Sellers in some areas who sold at the end of last year presented their homes well and priced them right for the market. Some received multiple offers, although this didn’t always result in a higher price. Many were sold and closed by the end of the year.

The dynamic that contributed to this seemingly unusual phenomenon was a high demand from buyers who’d been waiting for years for the right time to buy and a paucity of homes listed for sale at that time.

HOUSE HUNTING TIP: Most sellers aren’t inclined to sell their homes during the late fall and winter months, so they wait until spring. But then they are confronted with more sellers bringing their homes on the market. Buyers have a choice. You aren’t the only game in town.

Some sellers worry about the holidays. If you travel during the holidays, this might be a perfect time to have your house on the market. You won’t be inconvenienced by showing activity and open houses.

Sellers who are home for the holidays can ask their agent to remove the lockbox and have showings made by appointment through their listing agent.

The showing activity will be slower during the holidays, but the buyers who are looking are serious. Sometimes, buyers who have been transferred will take the opportunity of time off over the holidays to go house hunting.

The other alternative is to ask your agent to remove your home from the active market, but make sure the real estate agent community knows that the home is still for sale. You wouldn’t want to miss out on a good opportunity. The best bet is to keep your home actively listed. Most homes look festive and inviting at this time of year.

Depending on weather conditions, which can put a damper on showing activity, early in the year before the spring season is often a good time for sellers, particularly when interest rates are at historic lows, buyers are out in force and most sellers are waiting until April or May to bring their homes on the market.

Some sellers are inclined to wait until spring to sell because they think that the improved housing market will result in a higher sale price. There’s no way to know. Hopefully, prices will be higher then. But in most areas it will be only marginally higher.

The spring market is bound to have more inventory of homes for sale than we’re likely to see between November 2012 and March 2013. More homes for sale could dilute the buyer pool for your home. When your home is one of the few on the market, you have a better chance of a quick and profitable sale.

THE CLOSING: If you and your home are ready for sale, and the weather isn’t slowing the market down, go for it.