Tag Archives: Bedford Corners

Bedford Corners

Smart alternatives to putting 20 percent down | Bedford Corners NY Homes

 

These days, there are a number of alternatives to the 20 percent down payment, with some options requiring down payments of 3 to 5 percent, while others offer loans with 0 percent down.

Keep reading to learn more about these alternatives…

Alternative #1 – FHA Loan

If you’re a first-time homebuyer, consider a Federal Housing Administration (FHA) loan. It’s a type of federal assistance loan that allows lower-income Americans to borrow money to purchase a home they could not otherwise afford.

Buyers can get an FHA loan with a down payment as low as 3.5 percent of the purchase price, according to the U.S. Department of Housing and Urban Development.

“The FHA loan is designed to protect buyers from buying more house than they can afford,” says Paula Pant, founder of Afford Anything, a website that helps people reach their financial goals. “It limits buyers to spending no more than 31 percent of their gross monthly income on their total house payment. In other words, it protects buyers against making risky decisions.”

However, Pant says there is one drawback: Buyers will need to pay mortgage insurance as a result of not furnishing a 20 percent down payment.

“The cost of this insurance counts towards the total house payment, which is capped at 31 percent of a buyer’s gross monthly income. So, for example, if they earn $1,000 per month (gross), they can’t pay more than $310 per month towards all mortgage expenses, including the principal, interest, taxes and insurance, including PMI.”

 

 

http://homes.yahoo.com/news/alternatives-to-20-percent-down-003911752.html

Anxiety Hits Norway Housing Market as Premier Monitors Slump | Bedford Corners Real Estate

 

Norway’s Prime Minister Erna Solberg warned of “insecurity” gripping the nation’s housing market as deflating prices coincide with a rise in the jobless rate in Scandinavia’s richest economy.

“What we’re seeing now is insecurity in the housing areas,” Solberg said in a Jan. 29 interview at parliament in Oslo. “We have to look into what the reasons are for this. We know that the activity in construction is a little bit lower than anticipated earlier.”

Norwegian house prices have dropped 5 percent since August as the market retreats from a half-decade-long real estate boom. The $500 billion economy is slowing as consumers service record debt burdens and as joblessness climbs. Though unemployment remains well below the euro zone’s 12.1 percent, Norway’s registered jobless rate rose to 3 percent in January, the highest since February 2011, the Norwegian Labor and Welfare Service reported today.

“There has been a tendency for an increase in the unemployment figures in Norway since August,” Solberg said.“We need to see what the reasons are for the unemployment figures before we can answer if we need any” changes in fiscal policy, she said. The government is due to publish a supplement to its budget proposal in May.

 

http://www.bloomberg.com/news/2014-01-30/anxiety-hits-norway-s-housing-market-as-premier-monitors-decline.html

$1.349M buys you home designed by Mount Rushmore sculptor | Bedford Corners Real Estate

 

OK, so Mount Rushmore sculptor Gutzon Borglum actually designed and built this Stamford, Conn., home in the 1920s to be a carriage house and stable. But with four bedrooms, a massive stone fireplace, and a new kitchen with Wolf range and center island, who would argue that this 3,424-square-foot home is unsuited for human inhabitants who can afford the $1.349 million asking price? Source: stamford.patch.com.

 

 

– See more at: http://www.inman.com/wire/1-349m-buys-you-home-designed-by-mount-rushmore-sculptor/?utm_source=20140127&utm_medium=email&utm_campaign=dailyheadlinespm#sthash.LATqdb4w.dpuf

Sales Climb as U.S. Housing Market Adjusts to Rates: Economy | Bedford Corners NY Homes

 

Sales of previously owned homes climbed in December for the first time in five months, capping the best year since 2006 and indicating the real-estate market is starting to adjust to higher borrowing costs.

Purchases rose 1 percent to a 4.87 million annual pace, the National Association of Realtors reported today in Washington. Other reports showed claims for jobless benefits held last week near the lowest level in more than a month and the index of leading indicators climbed in December.

Faster employment growth, rising property values and a decline in consumer debt are giving would-be buyers the confidence to take the plunge into homeownership. Growing demand will also spur new construction and home improvements that will boost gross domestic product in 2014.

 

http://www.bloomberg.com/news/2014-01-23/sales-of-previously-owned-homes-in-u-s-rose-1-in-december.html

Countess LuAnn Slices $500K from Bridgehampton House Price | Bedford Corners NY Homes

 

280 Highland Terrace Bridgehampton
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Countess LuAnn de Lesseps of The Real Housewives of New York City has lowered the asking price on her Bridgehampton house. She is apparently downsizing now that her kids are older. The price is now $9.45M, which seems fairly reasonable. This is a lovely house set on 2.2 acres, with six bedrooms, 5.5 baths in 6500sf. It’s nicely decorated and the new owners should be able to move right in. The beautiful garden overlooks preserved farm fields. “It feels like Idaho,” de Lesseps told the Wall Street Journal. “There’s a wide open feeling.” · Bridgehampton South Estate with Forever Farm Views [BHS via HREO] · RHONY Star Countess LuAnn Offers Bridgehampton House at $9.999M [CurbedHamptons] · ‘Real Housewife’ Lists Hamptons Home [WSJ]