Author Archives: Robert Paul

About Robert Paul

Robert is a realtor in Bedford NY. He has been successfully working with buyers and sellers since the early 1980's. His local area of expertise includes Bedford, Pound Ridge, Armonk, Lewisboro, Chappaqua and Katonah. When you have a local real estate question please call 914-325-5758.

Primary day | Bedford Hills Real Estate

From the Office of Town Clerk Boo Fumagalli…
Primary Day is Today, Tuesday, September 12!

Polls will be open from 6 A.M. to 9 P.M. at your usual polling place. To find out your polling place, please reference your voter card that was sent to you by the Westchester County Board of Elections or you can check online at: https://voterlookup.elections.state.ny.us/

Members of the Democratic, Independence and Reform Parties are eligible to vote in Tuesday’s primary. Additionally, all non-affiliated voters (meaning those who are not registered in ANY party), are eligible to vote in the Reform Party primary. The Democratic and Reform Party primaries are for the county executive position. The Independence Party primary is for the county legislator position.
If you would like to take a look at a sample ballot, please feel free to stop into our office at 321 Bedford Road in Bedford Hills. We have also posted the ballots on our Facebook page for review at: https://www.facebook.com/Town-of-Bedford-Town-Clerk-NY-1268319463272349/
Should you have any questions regarding Primary Day, please feel free to contact Town Clerk Boo Fumagalli at 914-666-4534.
Thank you and remember to vote!

 

Case Shiller home price index | Bedford Corners Real Estate

The S&P CoreLogic Case-Shiller composite home price index of 20 metropolitan areas in the US rose 5.7 percent year-on-year in June of 2017, the same as in May and in line with market expectations. Prices increased the most in Seattle (13.4 percent), Portland (8.2 percent) and Dallas (7.7 percent). Meanwhile, the national index, covering all nine US census divisions went up 5.8 percent, following a 5.7 percent gain in the prior month. Case Shiller Home Price Index in the United States averaged 159.02 Index Points from 2000 until 2017, reaching an all time high of 206.52 Index Points in July of 2006 and a record low of 100 Index Points in January of 2000.

United States S&P Case-Shiller Home Price Index

 

 

Calendar GMT Actual Previous Consensus TEForecast
2017-07-25 01:00 PM S&P/Case-Shiller Home Price YoY 5.7% 5.8% 5.8% 5.8%
2017-08-29 01:00 PM S&P/Case-Shiller Home Price MoM 0.7% 0.9% 0.8% 0.8%
2017-08-29 01:00 PM S&P/Case-Shiller Home Price YoY 5.7% 5.7% 5.7% 5.7%
2017-09-26 01:00 PM S&P/Case-Shiller Home Price MoM 0.7%
2017-09-26 01:00 PM S&P/Case-Shiller Home Price YoY 5.7%
2017-10-23 01:00 PM S&P/Case-Shiller Home Price MoM

Mortgage rates average 3.82% | Armonk Real Estate

Mortgage rates hit an all-new 2017 low for the second-consecutive week, according to Freddie Mac’s weekly Primary Mortgage Market Survey.

“The 10-year Treasury yield fell to a new 2017-low on Tuesday,” Freddie Mac Chief Economist Sean Becketti said. “In response, the 30-year mortgage rate dropped four basis points to 3.82%, reaching a new year-to-date low for the second consecutive week.”

Click to Enlarge

8-31-17

(Source: Freddie Mac)

The 30-year fixed-rate mortgage dropped to 3.82% for the week ending Aug. 31, 2017. This is down from last week’s 3.86% but up from 3.46% last year.

The 15-year FRM also decreased, dropping from last week’s 3.16% to 3.12% this week. This is still up from last year’s 2.77%.

The five-year Treasury-indexed hybrid adjustable-rate mortgage decreased to 3.14%, down from 3.17% last week but up from 2.83% last year.

“However, recent releases of positive economic data could halt the downward trend of mortgage rates,” Becketti said.

Equifax credit hacked, now what? | Chappaqua Real Estate

 
 
  Equifax announces major data breach, it’s estimated to impact 143 million consumers.

On September 7th, 2017, one of the largest credit agencies, Equifax, announced an epic cyber-security data breach. They believe that approximately 143 million consumers had their social security numbers, birthdates, and addresses stolen by hackers. The breach was discovered on July 29th and is believed to have occurred between mid-May and July.

What should consumers do now?

Moving forward, Equifax has issued an apology and developed a website with information and tools regarding this breach, they are also offering consumers with a free package of credit monitoring and ID protection services.

​​​​​​​It’s hard to know how accurate this database is that Equifax set up, take extra measures to protect your credit and assets from fraud.

Review your credit: Many fraud warning signs are first seen through your credit reports and scores.

  • Has your score dropped significantly?
  • Are there inquires/new credit or collection accounts that you’re not familiar with?
    ​​​​​​​

The breach happened through Equifax, but you can still see an impact on the other two reports if identity theft/fraud has occurred. Don’t forget to check those as well!

If you believe your data has been compromised set up:

  •  Fraud Alerts: You have the right to ask the credit reporting agencies to place “fraud alerts” on your credit profiles. This will tell potential and existing creditors that you may be a victim of identity theft and extra precautions should be taken before approving new accounts. Keep in mind, that these alerts can make it more complicated for you to open new credit – creditors will have to contact you to verify the request before anything can be processed. These alerts will last for 90-days. ​​​​​​​
  • Security Freeze: This is a tool that prevents fraudulent accounts from being opened in your name. It stops people and companies from having access to your credit report. Keep in mind, it will inhibit your ability to open new accounts. The decision to place a freeze should not be taken lightly since lifting the freeze requires a written letter to the bureaus and can take time to be lifted.
  • ​​​​​​​Enroll in the Free TrustID product that Equifax is offering. Keep in mind this is a limited time offer.

​​​​​​​

This most recent data breach is enormous in size, impacting nearly half of the American population. Breaches are not uncommon and identity theft is prevalent, protect how you use your data and who you share it with.

If you believe you’re the victim of identity theft or that you’re information has been compromised, you’ll thank yourself in the long run for setting up alerts and monitoring your credit. Just make sure you do it before the damage gets out of control.

 
 
 
 
  Learn More About North Shore Advisory:  
Personal Credit Repair
Business Credit Repair
Business Credit Building
 
 
  North Shore Advisory, Inc.

FICO Certified Professional Team of credit experts specializing in

Business & Personal Credit Building, Restoration, & Education
5 West Main Street. Suite 207
Elmsford, NY 10523
P: 914-524-8300
F: 914-524-5014
info@northshoreadvisory.com
www.northshoreadvisory.com

 
 
 
  “Great Credit Brings Great Opportunity!”

Mortgage rates average 3.82% | Armonk Real Estate

Freddie Mac (OTCQBFMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average mortgage rates continuing to move lower.

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 3.82 percent with an average 0.5 point for the week ending August 31, 2017, down from last week when it averaged 3.86 percent. A year ago at this time, the 30-year FRM averaged 3.46 percent.
  • 15-year FRM this week averaged 3.12 percent with an average 0.5 point, down from last week when it averaged 3.16 percent. A year ago at this time, the 15-year FRM averaged 2.77 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.14 percent this week with an average 0.5 point, down from last week when it averaged 3.17 percent. A year ago at this time, the 5-year ARM averaged 2.83 percent.

Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following link for the Definitions. Borrowers may still pay closing costs which are not included in the survey.

Quote
Attributed to Sean Becketti, chief economist, Freddie Mac.
“The 10-year Treasury yield fell to a new 2017-low on Tuesday. In response, the 30-year mortgage rate dropped 4 basis points to 3.82 percent, reaching a new year-to-date low for the second consecutive week. However, recent releases of positive economic data could halt the downward trend of mortgage rates.”

 

NAHB housing market index down | South Salem Real Estate

United States Nahb Housing Market Index  1985-2017

The NAHB Housing Market Index in the United States fell to 64 in July of 2017 from a downwardly revised 66 in June, below market expectations of 67. It is the lowest reading in eight months. The index of current single-family home sales went down 2 points to 70; sales expectations over the next six months declined 2 points to 73 and buyer traffic edged down 1 point to 48. Nahb Housing Market Index in the United States averaged 49.44 from 1985 until 2017, reaching an all time high of 78 in December of 1998 and a record low of 8 in January of 2009.

United States Nahb Housing Market Index

 

Calendar GMT Actual Previous Consensus Forecast (i)
2017-05-15 02:00 PM May 70 68 68 67.2
2017-06-15 02:00 PM Jun 67 69 70 70
2017-07-18 02:00 PM Jul 64 66 67 66
2017-08-15 02:00 PM Aug 64 66.43
2017-09-18 02:00 PM Sep 66.32
2017-10-17 02:00 PM Oct 66.35

read more…

 

https://tradingeconomics.com/united-states/nahb-housing-market-index

Why is Aetna subsidized? | Cross River Real Estate

Hartford-based insurer Aetna will receive roughly $34 million in city and state subsidies to move its headquarters to a luxury boutique office building being erected in the trendy Meatpacking District, the de Blasio and Cuomo administrations announced in separate press releases Thursday.

Aetna will take 145,000 square feet at 61 Ninth Ave., the entirety of the building’s office space. The high-end commercial property is being developed by a partnership between Aurora Capital Associates and Vornado Realty Trust, a $17.6 billion public real estate company that is one of the city’s biggest and richest landlords.

Aetna will recieve $24 million of “performance-based tax credits” over 10 years, according to a statement from Gov. Andrew Cuomo’s office. The administration said Aetna will add 250 “senior” positions to the new headquarters and invest $84 million in the space.

Mayor Bill de Blasio’s office announced that Aetna will receive $9.6 million in financial assistance from the city’s Economic Development Corp. The subsidy will come in the form of a $4.25 million break on sales taxes for materials purchased for the site, $3.8 million in property-tax relief and $1.5 million of other sales-tax benefits and other breaks, according to the city.

Aurora and Vornado have been developing the Rafael Vinoly-designed 61 Ninth Ave. with the aim of fetching soaring rents in a neighborhood that has become a pricey and exclusive enclave for high-end tech firms, hedge funds and other deep-pocketed tenants.

Some fiscal watchdogs took a dim view of a multibillion-dollar insurance company being showered with millions of subsidy dollars so it can pay robust rents in a hot neighborhood to a landlord also worth billions.

“The city’s economy is the strongest that it’s been for generations,” said James Parrott, an economist and longtime critic of subsidy policy. “Tax breaks only serve to make New York City real estate more costly. Why would you want to do that?”

The city, in its press release announcing the deal, stated that Aetna’s move would generate $146 million in economic benefits to the city. A spokesman for the Economic Development Corp. couldn’t immediately describe in detail how it calculated that.

read more…

http://www.crainsnewyork.com/article/20170629/REAL_ESTATE/170629850/huge-insurer-gets-34-million-in-subsidies-to-pay-high-rents-in-hot#utm_medium=email&utm_source=cnyb-realestate&utm_campaign=cnyb-realestate-20170629

Refis could see uptick in second and third quarters | Katonah Real Estate

In the first quarter of 2017, refinances fell 45% from the fourth quarter, however the second and third quarters could see a turnaround in refi activity, according to a first look at Black Knight’s soon to be released Mortgage Monitor.

This chart shows refinance activity each week from October through June as refinance candidates fell from 8.6 million to 4.4 million.

Click to Enlarge

Black Knight

(Source: Black Knight)

Since interest rates fell below 4%, the financeable population rose to its highest point for 2017. While the current 4.4 million borrowers is down significantly from October, it is an increase of 56% or 1.6 million borrowers from mid-March’s low.

Borrowers who refinanced in the first quarter of 2017 cut their monthly mortgage payments by an average of $109 per month, or a total aggregate savings of $36.5 million per month. This marks the lowest total monthly savings since 2008 and a decrease from the fourth quarter’s $59 million.

But since the first quarter, savings have increased once again to a total of $1.1 billion or $260 per borrower each month.

This chart shows the total monthly savings borrowers saw each month.

 

read More…

https://www.housingwire.com/articles/40426-refis-could-see-uptick-in-second-and-third-quarters?eid=311691494&bid=1785932

Mortgage rates average 3.88% | Bedford Real Estate

Freddie Mac (OTCQBFMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed mortgage rate dropping to a new 2017 low.

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 3.88 percent with an average 0.5 point for the week ending June 29, 2017, down from last week when it averaged 3.90 percent. A year ago at this time, the 30-year FRM averaged 3.48 percent.
  • 15-year FRM this week averaged 3.17 percent with an average 0.5 point, the same as last week. A year ago at this time, the 15-year FRM averaged 2.78 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.17 percent this week with an average 0.5 point, up from last week when it averaged 3.14 percent. A year ago at this time, the 5-year ARM averaged 2.70 percent.

Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following link for the Definitions. Borrowers may still pay closing costs which are not included in the survey.

Quote
Attributed to Sean Becketti, chief economist, Freddie Mac.
“The 30-year mortgage rate fell 2 basis points to 3.88 percent this week. However, the majority of our survey was conducted prior to Tuesday’s sell-off in the bond market which drove Treasury yields higher. Mortgage rates may increase in next week’s survey if Treasury yields continue to rise.”

Builder Confidence Remains Solid | Bedford Hills Real Estate

Builder confidence in the market for newly-built single-family homes weakened slightly in June, down two points to a level of 67 from a downwardly revised May reading of 69 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI).

Builder confidence levels have remained consistently sound this year, reflecting the ongoing gradual recovery of the housing market. As the housing market strengthens and more buyers enter the market, builders continue to express their frustration over an ongoing shortage of skilled labor and buildable lots that is impeding stronger growth in the single-family market.

Derived from a monthly survey that NAHB has been conducting for 30 years, the NAHB/Wells Fargo Housing Market Index gauges builder perceptions of current single-family home sales and sales expectations for the next six months as “good,” “fair” or “poor.” The survey also asks builders to rate traffic of prospective buyers as “high to very high,” “average” or “low to very low.” Scores for each component are then used to calculate a seasonally adjusted index where any number over 50 indicates that more builders view conditions as good than poor.

All three HMI components posted losses in June but remain at healthy levels. The components gauging current sales conditions fell two points to 73 while the index charting sales expectations in the next six months dropped two points to 76. Meanwhile, the component measuring buyer traffic also moved down two points to 49.