Daily Archives: April 29, 2015

Buy Julia Roberts’ Hanalei Bay Estate in Kauai, Hawaii for $30 Million | North Salem Real Estate

Julia Roberts has listed her Hanalei, HI estate with more than 200 feet of beachfront for $29.85 million, Pacific Business News reports.

The estate, which the actress bought for $13.4 million in 2011, is called “The Faye Estate” for the sugar plantation manager who bought it in 1915, four decades before Hawaii became a state.

“H.P. Faye had the vision and the finances to purchase not one but two lots in the best part of the Bay,” according to the listing, which is held by Neal Norman of Hawai’i Life Real Estate Brokers.

The 2-acre property has views “mauka and makai,” meaning toward the mountains and seaward.

The 3,792-square-foot home was built in 1946 and has 7 bedrooms and 4 bathrooms. Building may be permitted for up to 9,000 square feet for more buildings and a pool.

 

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http://www.bloomberg.com/news/articles/2015-04-29/buy-julia-roberts-hanalei-bay-estate-in-kauai-hawaii-for-30-million

GDP Growth in the First Quarter – Stormy Weather? | Mt Kisco Real Estate

The Bureau of Economic Analysis (BEA) reported real GDP grew at a seasonally adjusted annual rate of 0.2% in the first quarter of 2015. Real GDP grew at an annual rate of 2.2% in the fourth quarter of 2014. The slowdown in economic growth was expected but the extent of the slowdown was a surprise. Harsh weather, a strong dollar, stalled trade at west coast ports and falling energy prices all played a role. In the same report the BEA reported that the price index tracking components of GDP, the broadest measure of price movements across the economy, declined by an annualized rate of 0.1% in the first quarter, after rising only 0.1% in the fourth quarter.

A strong dollar and stalled trade combined to shrink exports by an annual rate of 7.2% shaving almost a full percentage point from growth, but the stalled trade likely restrained imports given the rise in the value of the dollar, which would have depressed growth further. The trade dispute has been resolved, but the strong dollar is likely to persist and be a drag on growth in the near term.

Record low temperatures around the country in February can be considered a one-off event with little impact on growth going forward, but falling energy prices have put the brakes on a previously booming energy sector and contributed to an annualized 23.1% decline in the structures component of fixed investment. Investment in equipment, intellectual property and housing (residential fixed investment) all contributed to growth in total fixed investment, but less than in the previous quarter.

Inventory investment increased when it probably should have declined, adding nearly three quarters of a percentage point to growth in the current quarter, but will likely subtract from growth in the next quarter as payback. Personal consumption expenditures (PCE) slowed to 1.9% growth from an unsustainable 4.4% last quarter but will need to reaccelerate if the overall growth outlook is to improve.

 

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http://eyeonhousing.org/2015/04/gdp-growth-in-the-first-quarter-stormy-weather/

Weekly mortgage applications drop | #Waccabuc Real Estate

Mortgage applications gave back their gains last week, falling exactly as much as they had risen the previous week. This as interest rates increased ever so slightly.

Total application volume fell 2.3 percent on a seasonally adjusted basis for the week ending April 24th, but is up nearly 34 percent from a year ago, according to the Mortgage Bankers Association (MBA). Applications to refinance home loans fell four percent, while those to purchase a home were unchanged for the week.

“Applications for conventional purchase loans are at their highest level since August 2014,” said Mike Fratantoni, chief economist for the MBA. “With the recent pickup in existing home sales, this is another sign that housing markets are strengthening.”

Still, the stall in purchase application volume is a red flag, given that they had been on a tear, up 13 percent in the past four weeks. It could be a one-week aberration, but it is somewhat unexpected right in the heart of the spring season, traditionally the busiest for home sales. Home price gains have been increasing, as strong buyer demand comes up against very tight supply. That may be playing into the drop in applications—simply that people are not finding the right homes at the right price.

 

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https://homes.yahoo.com/news/weekly-mortgage-applcations-drop-2-110000411.html