Daily Archives: September 5, 2014

Great Plains Road Gets a Great Big Pricechop | #BedfordHills Real Estate

Leave a reply

 

291 Great Plains Road Southampton
24 images

Back when we first posted about this property, a little over two years ago, the asking price for the new-build was $18M. Now it’s just been pricechopped another $1.45M, down to $15.5M. We assume it’s just been price keeping this house from finding a buyer, because it’s rather lovely. It’s also huge: 12,000sf, nine bedrooms, 12.5 bathrooms. One drawback which we can’t figure out is the tininess of the kitchen in relation to the rest of the house; although there are separate prep and service kitchens in the lower level, we still think the main eat-in kitchen should be larger than it is. Other than that flaw, the house is in an elegant traditional style with beautiful bathrooms and a nice paneled office/den. The pool is stunning, as is the terrace and pool house, and there is a separate staff apartment above the garage. The grounds are 1.8 acres, which isn’t huge for this size of house but surely adequate, and the property is in a sought-after location in Southampton. Will the latest pricechop attract a buyer?

 

 

read more…

 

http://hamptons.curbed.com/archives/2014/09/05/great_plains_road_gets_a_great_big_pricechop.php

 

Average US 30-year mortgage rate holds steady | Bedford NY Real Estate

Leave a reply

 

The average 30-year U.S. mortgage rate this week remained at a 52-week low of 4.10 percent for the third straight week.

Mortgage company Freddie Mac also said Thursday the average for a 15-year mortgage, a popular choice for people who are refinancing, slipped to 3.24 percent from 3.25 percent.

At its 52-week low of 4.10 percent, the rate on a 30-year mortgage is down from 4.53 percent at the start of the year. Rates have fallen even though the Federal Reserve has been trimming its monthly bond purchases, which are intended to keep long-term borrowing rates low. The purchases are set to end in October.

The low rates appear to have boosted U.S. home sales. Also, moderating increases in home prices such as occurred in July should help support sales by making homes more affordable. Real-estate data provider CoreLogic reported Tuesday that home prices rose in July but at a slower rate compared with earlier this year.

Greater affordability has helped the housing market recover over the spring and summer after sales and construction fell earlier this year. Sales of existing homes rose for a fourth straight month in July to their strongest pace in nine months. And a measure of signed contracts also increased in July, suggesting that final sales will rise further in coming months.

To calculate average mortgage rates, Freddie Mac surveys lenders across the country between Monday and Wednesday each week. The average doesn’t include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.

 

read more…

 

http://news.yahoo.com/average-us-30-mortgage-rate-141333476.html