Daily Archives: June 24, 2013

Good-Bye Low Mortgage Rates; Good-Bye Housing Recovery | Bedford Hills Real Estate

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The already struggling U.S. housing market recovery took it on the chin this week…

While most investors were focused on the collapsing stock market, courtesy of the Fed’s announcement Wednesday that it would pull back on its $85.0-trillion-a-month paper money printing program some time later this year, bond yields rose sharply.

The yield on the bellwether 10-year U.S. Treasury bill has jumped almost 50% over the past 12 months—and that means mortgage rates are rising sharply. This should be of no surprise to my readers, as I have been warning about higher interest rates for some time now. (See “Gone Are the Days When the U.S. Bond Market Was the Place to Be.”)

If there is one factor that affects activity in the housing market the most, it is interest rates. That’s why the nail in the coffin for the housing market might now be in.

The National Association of Realtors reports first-time home buyers accounted for only 28% of all the existing-home purchases in the U.S. housing market in May. What’s even more troubling is that they have been declining in number. In April, first-time home buyers accounted for 29% of purchases; and in the same period a year ago, they bought 34% of all existing homes in the U.S. housing market. (Source: National Association of Realtors, June 20, 2013.)

Looking forward, I won’t be surprised to see the number of first-time home buyers decline even further, because the Federal Reserve has pulled the rug right out from under their feet by saying it may pull back on its quantitative easing later this year, thus pushing mortgage rates sharply higher.

The standard 30-year fixed mortgage rate jumped to 4.24% today, up from only 3.67% a month ago.

As I have been writing, the U.S. housing market has been propped up this year by institutional investors moving in and buying single-family homes for the sole purpose of renting them out—for investment purposes. Institutional investors became major buyers of single-family homes in key areas of the U.S. housing market and even bid up prices.

But now that yields across the board are rising, is the housing market that attractive to institutional investors? Money flows to the highest and safest returns. With rates rising, the big-money guys might finally have other investment alternatives to look at. Combine less focus on the housing market from institutional investors with declining demand from first-time buyers and rising interest rates, and quickly the housing recovery becomes a has-been.

 

Good-Bye Low Mortgage Rates; Good-Bye Housing Recovery – Yahoo! Small Business Advisor.

Instagram Video Taking a Swing at Vine: Study | Bedford NY Realtor

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In what may be considered a big boost to Instagram’s future, the amount of Vine videos shared on Twitter has dropped dramatically since Facebook’s Instagram launched a video feature last week,according to social media analytics site Topsy.

In a grand event at Facebook’s headquarters last Thursday, Instagram co-founder Kevin Systrom announced that his app, which was sold to Facebook for $1 billion in cash and stock in 2012, is “the same Instagram that we know and love … but (now) it moves.” 

What was once called the “Instagram for video,” Vine has serious head-to-head competition in Instagram after the photo-sharing application pivoted and allowed its 130 million users to share 15-second clips.

Vine, acquired by Twitter in 2012 for a reported $30 million, lets its nearly 20 million users share six-second videos and has grown increasingly popular since its launch in January.

Taking a look at a Topsy chart that maps shares on Twitter of Instagram photos and videos versus Vine videos, the change is drastic. 

After reaching a peak of nearly 2.9 million shares on June 15, Vine shares on Twitter dropped sharply to 1.35 million—more than a 50 percent decrease—on June 21, just a day after Instagram video was launched.

Strikingly, on that very same day Vine saw the spike, Instagram shares on Twitter surpassed Vine shares on Twitter, perhaps signaling that Vine users fled the platform to embrace the now-multi-purpose Instagram. (On May 30, shortly after Vine was released on Android devices, 

Vine was applauded when its shares on Twitter finally surpassed that of Instagram’s.)

It’s no secret that Facebook and Twitter—and more lately, respective subsidiaries Instagram and Vine—are competing for top dog in the social sharing world.

It’s been well documented that the tech companies will not allow one another to feed off each other’s data.

But shutting a rival out is a defensive move, and now, it appears that Facebook and Twitter are playing offense: Instagram moved quickly into Vine’s videospace, so Vine, after hearing rumors this feature was coming, decided to tease new features, encourage Twitter users in an email to download Vine, and granted an informative interview to the New York Times. All, perhaps, in an effort to go all-in against its new rival Instagram.

Facebook and Twitter did not immediately respond for comment on the shift in social sharing.

Facebook investors, hungry for some good news, may take solace that there is now a strong indicator that the social media giant has the leg-up in the battle over social video.

 

Instagram Video Taking a Swing at Vine: Study.

Mountain Penthouse on Aspen’s Main Street Asks $8.75M | Pound Ridge Real Estate

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Location: Aspen, Colo.
Price: $8,750,000
The Skinny: In most mountain towns, spending close to $9M would earn a buyer a substantial piece of property and a sprawling mansion, but not so in the favored mountain playground of the rich and famous, Aspen, Colo. This newly built penthouse on Main Street is asking $8.75M and measures just 3,200 square feet. Aside from the high price, the location is prime for those looking for easy access to Aspen’s many bars and restaurants—nevermind the annual Food & Wine Classic, which just wrapped up—and offers a short walk to the lifts at Aspen Mountain. The modern interior is home to four bedrooms, three bathrooms, “wide-planked European rift-cut white oak floors, custom cabinetry, diamond finish plaster walls, and slab stone countertops,” while 1,250 square feet of outdoor space and a three-car garage round out this low-maintenance offering.

Mountain Penthouse on Aspen’s Main Street Asks $8.75M – House of the Day – Curbed National.

10 Insights on Twitter’s Raw Marketing Power | Bedford Corners Realtor

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Twitter is the the most efficient marketing megaphone I have ever seen.10 Insights on Twitters Raw Marketing Power

It moves news, ideas and content in real time with only 140 characters. It is not only lightning fast, it is global. It amplifies your message and engagement with just one click.

Its attraction for me was it was free to use and simple.

I started using Twitter about 4 months before I launched my blog and I discovered that it was a great tool to not only engage with people but to distribute my content. I then proceeded to not only create content but build my Twitter followers as it provides an unfiltered stream that is not restricted by update choking and censoring that occurs with Facebook.

Twitter is well known for spreading and breaking news and is the darling of politicians and celebrities. What is not often understood is its raw naked power to make your content as an online publisher to flow across a global web.

It helps make your content  ”liquid”

So what is engagement on Twitter?

There are three types of Twitter engagement and total  engagement is the sum total of these three key components. 

1. @Replies

When a follower sends a Tweet directly by using your brand handle at the beginning of the Tweet. This will only show up in your feed, and the feeds of users who follow you both.

Example: “ @jeffbullas What Twitter tools do you use? ”

2. Retweets

A retweet is when a follower directly shares your brand message with their audience.

Example: “ whoa!! RT @jeffbullas: 10 Secrets of Professional Writers Every Blogger Should Know http://ow.ly/h08r4 #blogging #writing #blog” 

3. Mentions

When a user includes your brand hand, but not as a direct @Reply.

Example: “8 Great Twitter Tools That Will Get You Tweeting Like A Pro http://po.st/q232TU vía @jeffbullas ” 

Add these all together and you have “total engagement” as a pure metric.

Insights into Twitter’s raw marketing power

I have been trialling an analytics tool and platform called “Simply Measured” and plugged in my social media network accounts and have let it start collecting data and after a week it was  a revelation to take a closer look at the insights it revealed.

#1. Twitter engagement megaphone

The top graphic that is produced once your report is live is the “Twitter Engagement Megaphone”. It is a snapshot of your Twitter activity, engagement and potential reach and impressions in a graphical format.

What was surprising for me was the size of my Twitter “Potential Reach” at over 11 million and “Potential Impressions” which is calculated at 146 million.

Potential impressions have always been an important metric for advertisers. For traditional mass media like newspaper, radio and TV, it has been one of the only metrics available to gauge success, and its relevance is also prominent throughout the social media revolution.

Definition for “Potential Impressions”: “The total number of times a tweet from your account or mentioning your account could appear in users’ Twitter feeds”. 

Jeff Bullas Twitter engagement megaphone

What is the importance of potential impressions?

It is important for measuring brand impact as it measures the viral power beyond your inner circle of influence which is your follower count. If your content is having a viral impact then the potential impressions metric is the most important data point that identifies that trend.

For a more detailed breakdown of how it is calculated read this explanation.

#2. Twitter engagement breakdown

In looking at this metric what stood out was that retweets were by far the largest, which is a good thing as it is the engagement type with the most reach. The other revelation was the Tweet with the most engagement over the 7 day period was a Tweet with the headline “Facebook Finally Joins the Hashtag Party”

Twitter engagement breakdown

#3. Top time and day for Twitter engagement

This shows that mid week is the the top time with Wednesday the most active at between 7 and 8am. Surprising also was that it was over 26% of total mentions.

Top time and day for Twitter engagement

#4. Best tweets by content

I tweet with links almost every time. Normal tweets without links do not create as much engagement as a link or a video tweet.

Want to drive engagement then you need to include a link.


Read more at http://www.jeffbullas.com/2013/06/21/10-insights-on-twitters-raw-marketing-power/#u0R1xOXT6MLfV8zx.99 

 

www.jeffbullas.com/2013/06/21/10-insights-on-twitters-raw-marketing-power/.

Secluded Carriage House in Quiogue for $1.849M with Lovely Gardens | Chappaqua Real Estate

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This 1890 carriage house has a lot of historic charm, but unlike many old houses, it has large, spacious rooms. Features include coffered ceilings,wide-plank floors, a fabulous granite kitchen with pro appliances, and a sunny porch. There are five bedrooms and three and a half baths in 3556sf. We like the soothing, summery neutral palette warmed up with antiques, too. Outside, specimen trees and formal gardens are on a lot of 1.3 acres. The setting is very private, with a long gated driveway, but Main Street shopping is a short walk away. There’s room for a pool and pool house.
· 478 Main St [Elliman]

 

Secluded Carriage House in Quiogue for $1.849M with Lovely Gardens – This charming house – Curbed Hamptons.

Saving the Diamonds in the Rough – historic preservation | Armonk Real Estate

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Yesterday, the Pearlroth House, also known as the Double Diamond House, designed by Andrew Geller and built in Westhampton in 1963, was moved. As we noted in March, the Pearlroth house has unfortunately deteriorated over the years. The owner, Jonathan Pearlroth, the son of the original owners, wants a larger house for his family, so the house is now about 40 feet away from its original site.

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Reinhardt / O’Brien Contracting, best known for the Houses at Sagaponac, moved the house, with Jake Gorst, Andrew Geller’s grandson, and Jonathan Pearlroth present. Reinhardt / O’Brien are building Jonathan a new 3500sf modern house designed by New York-based Cook + Fox Architects. The builders will now restore the Double Diamond house, after which it is planned to be opened as a museum.
· Pearlroth House [Official Site]
· Previous coverage of Pearlroth House [Curbed Hamptons]

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Saving the Diamonds in the Rough – historic preservation – Curbed Hamptons.

Recipe for Summer: Log Cabins With a Contemporary Twist | North Salem Homes

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An American summer isn’t complete without a few essentials: sunscreen, campfires, lakes and, of course, cabins. In honor of Log Cabin Day, we’ve rounded up a few Cabin listings across the U.S. While authentic in style and feel, these standouts push the envelope on classic cabin design.

Jackson, WY

520 S Indian Springs Dr, Jackson, WY
For sale: $11.75 million

Jackson, WY
Named “Wild By Nature,” this architectural beauty sits on nearly 6 acres with unobstructed views of the Tetons and resident wildlife. Entering a striking porte-cochère, visitors are greeted by a moose-antler chandelier hanging from a vaulted cathedral ceiling.

Blairsville, GA

593 Turkey Trot, Blairsville, GA
For sale: $779,500

Blairsville, GA
Surrounded by 12 acres of rolling pastures and a brook, this home adds elegance and charm to the quintessential A-frame cabin design. Known as “Saving Grace Farm,” the home boasts exposed beams in a large contemporary kitchen and living room.

Larue, TX

9033 Safari Shores Dr, Larue, TX 
For sale: $679,000

Larue, TX
Constructed in 2007, this cabin has all the amenities of a modern home with the feel of a woodsy lake house. In the backyard, a large deck provides a prime lakefront view while a dock is the perfect place to cast a line.

McMinnville, TN

131 Bluff Line Dr, McMinnville, TN 
For sale: $642,000

Minnville, TN
This mountain cabin was built in 2006 with nearly every surface made of wood. An angular design, as well as a lofted second floor and partially finished basement set the property apart from simple one-story cabins.

White Sulphur Springs, MT

3 Pine Hill Dr, White Sulphur Springs, MT 
For sale: $339,900

Sulphur Springs, MT
This Big Belt Mountains cabin has several unique details, including a built-in outdoor kitchen, covered porch and a discrete loft space above one of the bedrooms. The nearly 22-acre property also includes a private guest cabin, garage and barn with 2 horse stalls.

Recipe for Summer: Log Cabins With a Contemporary Twist | Zillow Blog.

Cuba Gooding Jr.’s Northridge Home for Sale | Cross River Real Estate

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Something you don’t see often: a celebrity-owned home with the phrase “TLC needed” in the listing description. Something you do see in Los Angeles: a home snagging a buyer just a few weeks after it is listed.

Cuba Gooding Jr.’s home at 19356 Vista Grande Way, Northridge CA 91326 is currently listed for $729,000, and the listing already shows a pending sale. While prices over $500,000 seem high in many parts of the country, it’s not far off the median home value for the area, which currently rings in at $615,400. Despite the property needing work, the price and timing were right, as it took just a few weeks for Gooding’s home to attract a buyer.

According to property records, Gooding bought the property through a trust under his business manager’s name for $439,000 in 1999. He and his wife, Sara, used the home as their primary residence until they bought a bigger and more “celebrity-worthy” home in Pacific Palisades in 2000 for $3.5 million.

Although cheaper than the Pacific Palisades home, Gooding’s Northridge home doesn’t slouch in the space department. The 5-bedroom, 3-bath home measures 3,538 square feet and includes a bonus room and pool. The cul-de-sac property was built in 1976 and also has a 3-car garage.

Gooding had a few minor roles before landing a part in “Jerry Maguire” in 1996, winning the Oscar for best supporting actor. Since then, he’s had a variety of roles and currently is on Broadway in the play “The Trip to Bountiful.” A few reports have surfaced that the actor is looking for a place for his wife and three kids to live while he’s working in the Big Apple.

 

Cuba Gooding Jr.’s Northridge Home for Sale | Zillow Blog.

How to Negotiate Lower Rent With a Potential Landlord | Mt Kisco NY Realtor

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When you’re looking for an apartment, you might be under the impression that the list price is the only price. In some cases, that’s true. But if you’re a bit savvier, you could end up negotiating your way into a great deal. Before you approach the landlord, however, make sure you’ve done your homework.

Determine your leverage     

Keys changing handsAre you in a tight or loose rental market? In tight markets — where there are more renters than available apartments — it’s unlikely a potential landlord will negotiate. Why? If three or four other people are willing to pay list price for the apartment, a landlord has little motivation to lower the price for you.

A good way to determine whether you’re in a tight rental market is to browse apartment listings for a few days. How many open units are in each building? How quickly do listings disappear? The longer the listings are on the market and the more listings per building, the looser the market. Another way to tell: Have you had any apartment showings canceled because the place was suddenly rented? If not, this again points to a looser market.

In loose markets, landlords will be anxious to rent their place, even at a rate lower than list price. After all, an empty unit is a money-sink for landlords. If you’re offering to fill the vacancy, the landlord might be happy to lower the price, especially if the choice is between renting to you or letting the apartment sit on the market a month longer.

Can you demonstrate that you are a responsible person? Even in a tight market you can have personal leverage. Landlords want security and predictability. In the long run, these things save a landlord a lot of money. If you can demonstrate that you have these qualities — the primary attributes landlords look for are a steady job and good credit — you may get a landlord to knock a bit off your rent or to make other concessions.

Can you show commitment to staying? If you’re planning on staying in the apartment for two or three years or longer, that’s a big benefit in a landlord’s eyes. When a landlord has to rent an apartment to a new tenant every year, he or she loses a lot in transaction costs (repainting, brokers fees, professional cleaning fees), as well as in the simple effort of finding a new tenant. So if you’re planning on staying a while, highlight this when discussing what makes you a great potential renter.

Negotiate from strength

After you have determined where your points of leverage are, it’s time to make your move. When approaching the landlord, the key is to be confident and calm. Avoid hyper-aggressiveness or a mouse-like timidity. A good way to strike the right balance and show confidence is to know your stuff. Know what an average apartment rents for in the neighborhood. Compare the amenities in the apartment to those available in nearby complexes. Have in mind a price you think is fair for your potential place, and have reasons why — whether it’s because the kitchen is too small, or it doesn’t provide parking, or it’s simply too expense relative to comparable places in the neighborhood. And emphasize your points of leverage — that you’ll be a responsible, long-term tenant.

When negotiating, ask for an even lower price than you’re hoping to pay. Do this for two reasons: First, you might end up getting it. Second, if the landlord is at all interested in bargaining, you’ll likely need to meet halfway between your initial offer and the list price. If you give a low (but not unreasonable) initial offer, meeting somewhere in the middle will be a win for you, and both you and the landlord will feel like you’ve made a good deal.

In the end, successful negotiating is all about knowing the market, doing research about the specific apartment in your sights and negotiating calmly and rationally. If you do all this, you have a good chance of paying lower monthly rent. Good luck!

 

How to Negotiate Lower Rent With a Potential Landlord | Zillow Blog.

Luxury Summer Rentals: Is $1 Million the New Normal? | Waccabuc Real Estate

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In the world of short-term rentals, it’s all about Memorial Day to Labor Day. Homes in popular vacation spots from Malibu to The Hamptons are emerging with rental prices from $100,000 to more than $1 million total for the summer.

While many associate these numbers with buying a home — not renting one for three months — these listings typically attract renters soon after they hit the market. For those who can afford it, they offer the chance to live in the lap of luxury — without having to think about a mortgage or resale value.

Here’s a look at a few high-end summer rentals currently on the market. Some are offered for a flat fee; others have a monthly rate for the 3-month peak vacation season. (You might have some negotiating power with Memorial Day behind us, but don’t expect to rent one of these pricey pads for less than six figures.)

Beverly Hills: $1.8 million ($600,000/mo.)

Beverly Hills, CA
Perched above the Beverly Hills Hotel at 1011 N Beverly Dr, Beverly Hills, CA 90210, the Beverly House was a for-sale listing asking $115 million before becoming a rental. Whether you’re in the market for a summer home or a year-long lease, the price remains $600,000 per month.

While its ornate architecture and furnishings are notable, the home is most-known for its celebrity history — from publishing magnate William Randolph Hearst, who was given the home by actress Marion Davies in 1946, to John and Jacqueline Kennedy, who spent time there during their honeymoon. The 3.7-acre compound has also served as a set for “The Godfather” and “The Bodyguard.”

Water Mill: $550,000 (flat fee)

Water Mill, NY
Located on Mecox Bay between Bridgehampton and Southampton, Water Mill, NY is an exclusive destination for the rich and famous (Jennifer Lopez just dropped $10 million on a 3-acre estate in the area).

Similar to the Beverly Hills listing above, this Water Mill home first hit the market as a for-sale listing in 2011. After several price changes, the home is now being marketed as a summer rental for a flat fee of $550,000 for Memorial Day through Labor Day. The house includes a master suite with a private terrace, 3 additional bedrooms, an oversized granite pool and spa.

Bridgehampton: $475,000 (flat fee)

Bridgehampton, NY
Bridgehampton is another coveted Hamptons locale, with Goldman Sachs CEO Lloyd Blankfein recently buying a house listed for $32.5 million. Last summer, Beyonce and Jay-Z escaped Manhattan with a Bridgehampton summer rental coined “The Sandcastle.”

Measuring 10,000 square feet, this Bridgehampton home has 7 bedrooms, 9.5 baths, a pool, movie theater, gym, 4 fireplaces and a wine cellar. Close to local shops, restaurants and the beach, it’s an ideal getaway during the summer months, and the price reflects this with a $475,000 flat fee from Memorial Day to Labor Day versus $150,000 for the winter.

Southampton: $395,000 (flat fee)

Southampton, NY
Live like Kate Spade with this Southampton summer home located on your own private pond. The property features 5,800 square feet of living space on 2 landscaped acres with a heated pool and tennis court. Located a block from the Hamptons waterfront, the estate also comes with deeded beach access.

If you’re looking for a longer-term rental, listing agent Nancy Hardy of Halstead Property says additional prices are available.

Malibu: $300,000 ($100,000/mo.)
Malibu, CA

Located behind Malibu Colony’s prestigious gated entrance at 23716 Malibu Colony Rd #28, this home is available only for the summer months, as the homeowners live there the rest of the year. For $100,000 a month, the Cape Cod-style beach house comes with a private deck right on the beach, 5 bedrooms, 5.5 baths and an attached gym.

Malibu is a popular second-home destination for the celebrity set flocking from nearby L.A. While some like to buy their own place, others including Usher and P. Diddy have gone the rental route.

 

Luxury Summer Rentals: Is $1 Million the New Normal? | Zillow Blog.