Tag Archives: Cross River NY Real Estate

10 Forgiving Houseplants You Can Grow Anywhere | Cross River Real Estate

Even if you don’t have big windows with southern exposures, you can successfully keep greenery (and keep it alive) indoors. A wide variety of plants can grow and even thrive in spots with limited sunlight. And with the abundance of benefits that come with bringing plants into your day-to-day life—including stress reduction, toxin removal, and increased moisture in the air—there’s no reason not to do so. No light? No problem. These 10 easy-care houseplants are sure to brighten any corner in your home, even one a little lacking in sunshine.

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Philodendron

For decades, philodendron has been a houseplant mainstay. Native to the American tropics, it thrives in an indoor environment and is easily adaptable to lower-light situations. It comes in both vining and shrub-like varieties, so you can choose whichever strikes your fancy. Available on Amazon; $2.41 for a 4-inch pot.

Arrowhead Vine

Named for its distinctive arrow-shaped leaf, this shadow-dweller often springs up in variegated shades of bronze, pink, and green. Arrowhead vines also grow well in low to medium light and will lengthen as they mature—making them a popular pick for hanging basketsAvailable on Amazon; $4.20.

Chinese Evergreen

A suitable choice for any beginner, the Chinese evergreen requires very little attention to turn into a highly ornamental addition to any room. Even if you follow a when-I-remember-to watering schedule, this plant will still reward your home with showy, lustrous leaves of green streaked with silver, yellow, or white. Available on Amazon; $14.99 for 6-inch pot.

Snake Plant

The snake plant, a succulent, is one of the most tolerant houseplants in practically every way, enduring both low light and drought. Its strikingly long, erect leaves are typically edged in yellow-gold, yielding an architectural shape that especially complements modern decor. Available at The Home Depot; $18.88.

Fern

Ferns are familiar forest floor inhabitants, but several varieties, like the rabbit foot fern, have made the move to the home. Like their natural-setting counterparts, they thrive in low-light conditions. With their soft, lush fronds, ferns add dramatic visual interest to a room. Available on Amazon; $9.99.

Peperomia

Peperomia is highly decorative, small, and super low maintenance. Don’t worry if you forget to water it one week—it can tolerate dry conditions. A member of the pepper family, peperomia’s leaves come in a variety of vibrant colors, shapes, sizes, and textures, with many presenting a deeply waffled appearance. Available on Amazon; $4.99 for a 4-inch pot.

Spider Plant

The spider plant’s slender, arching blades create a sunburst display in hanging baskets and on top of columns. And it’s as beneficial as it is beautiful: This houseplant improves indoor air quality by filtering out benzene, formaldehyde, carbon monoxide, and xylene. Available on Amazon; $4.69 for a 3.5-inch pot.

Cast Iron Plant

Aptly named, the cast iron plant is ruggedly hardy. It can survive with little light, tolerate irregular watering, and weather fluctuating temperatures to last all year. It’s nearly indestructible. Don’t worry about trimming it back or repotting, either; this slow grower will not overrun your home like an aggressive vining houseplant might. Available on Amazon; $14.99.

Rubber Plant

The thick, glossy leaves of the rubber plant put on an outstanding show. While smaller, a potted plant can function as a naturally elegant centerpiece for the table, but over time it can grow to more than three feet tall. When it does, move it near an entrance or fireplace for a pop of greenery. Available at The Home Depot; $23.46.

Peace Lily

A shade-loving plant that thrives indoors, the peace lily produces elegant white blooms in spring. It’s an ideal housemate: It is not only ranked as one of the top 10 best household plants for cleaning the air, it can also succeed with fluorescent fixtures as its main light source. Available on Amazon; $12.98.

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https://www.bobvila.com/slideshow/10-forgiving-houseplants-you-can-grow-anywhere-48175#philodendron-low-light-plant

Mortgage rates steady at 3.8% | Cross River Real Estate

Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that after consistent declines in late spring, mortgage rates have stabilized with this week’s 30-year fixed-rate mortgage rate settling in near 3.8 percent for the third straight week.

Sam Khater, Freddie Mac’s chief economist, says, “While the continued drop in mortgage rates has paused, homebuyer demand has not. This is evident in increased purchase activity and loan amounts, indicating that homebuyers still have the willingness and capacity to purchase homes. Today’s low rates, strong job market, solid wage growth and consumer confidence are typically important drivers of home sales.”

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 3.84 percent with an average 0.5 point for the week ending June 20, 2019, up from last week when it averaged 3.82 percent. A year ago at this time, the 30-year FRM averaged 4.57 percent. 
  • 15-year FRM averaged 3.25 percent with an average 0.4 point, down from last week when it averaged 3.26 percent. A year ago at this time, the 15-year FRM averaged 4.04 percent. 
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.48 percent with an average 0.4 point, down from last week when it averaged 3.51 percent. A year ago at this time, the 5-year ARM averaged 3.83 percent.

New home sales fall | Cross River Real Estate

Sales of new U.S. single-family homes fell from near an 11-1/2-year high in April as prices rebounded, but demand for housing remains underpinned by declining mortgage rates and a strengthening labor market.FILE PHOTO: A new apartment building housing construction site is seen in Los Angeles, California, U.S. July 30, 2018. REUTERS/Lucy Nicholson

The Commerce Department said on Thursday new home sales dropped 6.9% to a seasonally adjusted annual rate of 673,000 units last month. March’s sales pace was revised up to 723,000 units, the highest level since October 2007, from the previously reported 692,000 units.

April’s decline followed three straight monthly increases

Economists polled by Reuters had forecast new home sales, which account for about 10% of housing market sales, would decrease 2.8% to a pace of 675,000 units in April.

Sales increased 7.0% from a year ago. The median new house price increased 8.8% from a year ago to $342,200 in April, the highest level since December 2017.

New home sales had in recent months outperformed other housing market indicators, including building permits, which had dropped for five straight months in April. New home sales are drawn from permits.

Economists attributed the recent strength in new home sales to declining mortgage rates. The new housing market has not been severely constrained by an inventory shortage, which has crippled sales of previously owned homes.

A report on Tuesday showed existing home sales fell for a second straight month in April, weighed down by a chronic shortage of more affordable houses.

The overall housing market hit a soft patch year and has contracted for five straight quarters. With the 30-year fixed mortgage rate dropping to around 4.07% from near an eight-year high of 4.94% in November, there is reason to be cautiously optimistic about the housing market.

New home sales in the South, which accounts for the bulk of transactions, declined 7.3% in April. Sales in the Midwest dropped 7.4% and those in the West tumbled 8.3%. But sales in the Northeast jumped 11.5%.

There were 332,000 new homes on the market last month, down 0.9% from March. While builders have stepped up construction of more affordable homes to meet strong demand in this market segment, land and labor shortages remain a challenge.

At April’s sales pace it would take 5.9 months to clear the supply of houses on the market, up from 5.6 months in March.

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https://www.reuters.com/article/us-usa-economy-housing/u-s-new-home-sales-fall-more-than-expected-in-april-idUSKCN1ST1QP

Notre Dame roof reimagined as a giant greenhouse | Cross River Real Estate

Just a week after Notre Dame went up in flames, ideas around how to redesign the historic cathedral’s spire have already started cropping up, including this leafy concept from Studio NAB.

The French architecture studio showed off its design to turn the damaged roof of the cathedral into a giant greenhouse, complete with an apiary that takes the place of the spire. (some 180,000 bees that had been kept in wooden boxes on the cathedral’s roof survived the fire). The renderings show a gabled roof perched atop the stately church; its golden-hued steel frame is filled with glass panels.

Inside, the architects envision rows of planters built from burnt wood from the old church’s attic. The greenhouse and apiary would act as an education hub where people can learn about horticulture and urban agriculture.

Rendering of greenhouse

Rendering of apiary

This concept comes after a similarly glassy vision from Foster + Partners, whose design has been compared to an Apple Store. Stay tuned as the Notre Dame restoration efforts unfold.View image on Twitter

View image on Twitter

French firm Studio NAB’s concept replaces the cathedral’s iconic spire with a glassy apiary

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https://www.curbed.com/2019/4/25/18515150/notre-dame-roof-restoration-design-studio-nab

Mortgage rates drop to 4.06% | Cross River Real Estate

Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that the average 30-year fixed-rate mortgage dropped 22 basis points.

Sam Khater, Freddie Mac’s chief economist, says, “The Federal Reserve’s concern about the prospects for slowing economic growth caused investor jitters to drive down mortgage rates by the largest amount in over ten years. Despite negative outlooks by some, the economy continues to churn out jobs, which is great for housing demand. We have recently seen home sales start to recover and with this week’s rate drop we expect a continued rise in purchase demand.”

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 4.06 percent with an average 0.5 point for the week ending March 28, 2019, down from last week when it averaged 4.28 percent. A year ago at this time, the 30-year FRM averaged 4.40 percent. 
  • 15-year FRM this week averaged 3.57 percent with an average 0.4 point, down from last week when it averaged 3.71 percent. A year ago at this time, the 15-year FRM averaged 3.90 percent. 
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.75 percent with an average 0.3 point, down from last week when it averaged 3.84 percent. A year ago at this time, the 5-year ARM averaged 3.66 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.

Existing sales fall again | Cross River Real Estate

U.S. home sales fell in January to their lowest level in more than three years and house prices rose only modestly, suggesting a further loss of momentum in the housing market.

The National Association of Realtors said on Thursday existing home sales dropped 1.2 percent to a seasonally adjusted annual rate of 4.94 million units last month.

That was the lowest level since November 2015 and well below analysts’ expectations of a rate of 5.0 million units. December’s sales pace was revised slightly higher.

The drop in January came after months of weakness in the U.S. housing market. Existing home sales were down 8.5 percent from a year ago.

The U.S. housing market has been stymied by a sharp rise in mortgage rates since 2016 as well as land and labor shortages. That has led to tight inventory and more expensive homes.

At the same time, the 30-year fixed mortgage rate has dipped in recent months and house price inflation is slowing.

The median existing house price increased 2.8 percent from a year ago to $247,500 in January. That was the smallest increase since February 2012.

Last month, existing home sales fell in three of the country’s four major regions, rising only in the Northeast.

There were 1.59 million previously owned homes on the market in January, up from 1.53 million in December.

At January’s sales pace, it would take 3.9 months to exhaust the current inventory, up from 3.7 months in December. A supply of six to seven months is viewed as a healthy balance between supply and demand.

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https://www.cnbc.com/2019/02/21/existing-home-sales-january.html

New York’s Property Tax Rate Among Highest In Nation | Cross River Real Estate

New York's Property Tax Rate Among Highest In Nation

The property tax rate in New York is high compared to the rest of the country. That’s according to a new report Wednesday from the financial news and opinion site 24/7 Wall St., which reviewed the effective rate — meaning the total amount of property taxes paid each year as a percentage of the total value of all occupied homes — for every state. The data is from the 2015 fiscal year and came from the conservative think tank Tax Foundation.

New York’s effective property tax rate ranked 14th highest in the country, the report found, nestled between Iowa and Kansas. On average, state and local governments across the country bring in about $1,500 a year in property taxes per person. Here are the numbers for New York:

  • Effective property tax rate: 1.4 percent
  • Median home value: $314,500
  • Per capita property taxes: $2,696.90
  • Median household income: $64,894

If those numbers seem like too much, you might consider moving to Hawaii, where the effective property tax rate was just .29 percent. If that sounds like a dream, consider this — the median Hawaiian home is worth more than $617,000 and the typical household earns about $77,000 a year, so don’t forget to bring a checkbook and perhaps buy a lottery ticket upon arrival. Alabama, Louisiana, West Virginia and Wyoming rounded out the five states with the lowest property tax rates.

On the flip side, residents in the Northeast appear to pay the highest rates, with New Jersey, New Hampshire and Vermont all appearing in the top five. New Jerseyans pay more than anyone else in the country with an effective property tax rate of 2.16 percent, the authors found. Residents pay more than $3,000 per capita and the median household income is just over $80,000 a year. A typical home in the state costs about $335,000.

Here are the 10 states with the highest effective property tax rates:Subscribe

  1. New Jersey
  2. Illinois
  3. New Hampshire
  4. Wisconsin
  5. Vermont
  6. Texas
  7. Nebraska
  8. Connecticut
  9. Ohio
  10. Rhode Island

Property taxes are the single largest money-maker for local governments and they’re spent almost entirely on a local level. Generally they are used to fund fire, police, schools, roads, cleaning and repairs.

“As a result, the United States is a patchwork of property tax codes, and depending on where you live, property taxes can be either a trivial expense or a major financial burden,” the report said.

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https://patch.com/new-york/bedford/s/glmoy/new-york-s-property-tax-rate-among-highest-in-nation?utm_source=alert-breakingnews&utm_medium=email&utm_term=weather&utm_campaign=alert

UK house prices take pre-Brexit hit: Nationwide | Cross River Real Estate

© Reuters. FILE PHOTO: A Union flag hangs across a street of houses in London

A Union flag hangs across a street of houses in London. d

British house prices took a pre-Brexit hit in December, falling by the most in monthly terms since mid-2012 and rising by their slowest pace in nearly six years in annual terms, according to data from mortgage lender Nationwide.

House prices fell by 0.7 percent from November, the biggest monthly fall since July 2012, Friday’s data showed.

Compared with a year earlier, prices rose by just 0.5 percent compared with a 1.9 percent rise in November.

Both readings were below all forecasts in a Reuters poll of economists.

Nationwide said it expected prices to rise at a “low single-digit pace” in 2019 but its forecast was dependent on the economy continuing to grow modestly, something that looked “unusually uncertain.”

Prime Minister Theresa May is struggling to overcome deep opposition in her own Conservative Party to the Brexit divorce deal she agreed with other European Union leaders, raising the prospect of an economically damaging no-deal departure from the EU in March.


London Houses & Flats on MoveFlat.co.uk, many Britain’s housing market has weakened since the June 2016 Brexit vote, led by price falls in London.

At the time of the referendum, Nationwide’s measure of house prices was rising by about 5 percent a year.

Bank of England Governor Mark Carney said last month that in the event of a “disorderly” departure from the EU — not the central bank’s base-case scenario — house prices could slump by 30 percent as part of a broader economic shock.

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https://www.investing.com/news/economic-indicators/uk-house-prices-rise-at-slowest-pace-in-nearly-6-years-nationwide-1737126

Trulia: Here’s what will happen in housing in 2019 | Cross River Real Estate

Crystal ball

It’s the trillion-dollar question that everyone’s looking for an answer for. What’s housing going to do next year?

Earlier this week, we took a look at Zillow’s 2019 forecast, which stated that mortgage interest rates are going to keep rising next year, which will drive an increase in rents as people hold off on home buying.

But how much of an impact will that really have? Zillow’s sister company, Trulia, provides an answer in the form of its own 2019 forecast, which is backed up by some interesting survey data.

Trulia contracted The Harris Poll to ask 2,021 U.S. adults, ages 18 and older, earlier this month how they felt about housing right now and in the future.

And the results of the survey show that people want to buy a house, but they may not be able to afford it right now thanks to a combination of rising rates and rising home prices.

The bad news is that it’s likely only going to get worse in 2019.

According to Trulia, worsening housing affordability will slow down home buying activity next year.

“Over the past several years, home price growth has largely outpaced income growth, making for an increasingly unaffordable home-buying environment,” Trulia noted in its report.

“And next year, even as growth in home prices cools, limited supply will continue to help push prices up to some degree,” Trulia continued. “The financial impediments of homeownership are acutely felt among renters who wish to buy: 53% say that saving enough for a down payment is the number one obstacle to homeownership, while 36% cite rising home prices.”

Another issue, as stated before, are rising interest rates, which are projected to continue climbing in 2019. According to Trulia, rates will rise throughout the year, eventually reaching 10-year highs.

And that’s going to hurt renters who want to become homebuyers.

“Mortgage rates on 30-year, fixed rate loans have been less than 5% since the end of the recession, helping to buoy housing demand and keep monthly payments relatively cheap even as prices themselves rose,” Trulia said in its report. “But those record-low rates will come to an end in 2019. Rising mortgage rates will take a bite out of affordability on top of an already supply-constrained and high-priced housing market.”

According to Trulia, nearly 20% of renters who want to buy say that rising interest rates are their biggest obstacle to buying a home, which is up from 13% who made that claim back in April when interest rates were lower than they are now.

Also impacting potential buyers is “tight” nationwide housing inventory.

“Inventory has fallen almost non-stop for the past several years, and while several pricey coastal California markets saw an increase the number of for-sale starter and trade-up homes last quarter, they’re likely to be the exception and not the rule,” Trulia said.

“And even if inventory begins to pick up in more markets, it will be rising from multi-year lows and will take a long while to get back to a more balanced level between buyers and sellers,” Trulia continued. “With the construction industry facing significant headwinds from the higher cost of materials and labor as well as rising interest rates, we do not expect much if any growth in new construction starts in 2019 to help alleviate inventory woes.”

Despite all of that, Trulia expects more Millennials to become first-time homebuyers in 2019.

“Younger Americans will continue to drive homeownership. After dropping to multi-decade lows in the years following the recession, the national homeownership rate is steadily rising and is currently at the same level it was in 2014,” Trulia said.

“The largest gains in homeownership rates in recent years were among those under 35 years old,” Trulia concluded. “And more of these younger Americans say they intend to buy a home soon. Of Americans aged 18 to 34, 21% say they plan to buy within the next 12 months, up from 14% last year.”

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https://www.housingwire.com/articles/47536-trulia-heres-what-will-happen-in-housing-in-2019?utm_campaign=Newsletter%20-%20HousingWire%20Daily&utm_source=hs_email&utm_medium=email&utm_content=67937354&_hsenc=p2ANqtz–ojj2JR5goBpPaKlIih2HHMqRYf-rLBOMYgDlEg454UAruGuifci9ZZz9sUVjUfW4HeNpm8VYBfYFuu-dcW76_rrh07w&_hsmi=67937354

A starter house story | Cross River Real Estate


Johanna Lasser had lived in a dozen apartments before she bought her first house two years ago, a rundown Victorian in Ditmas Park, Brooklyn. Ms. Lasser and her husband, Jimm, figured they would fix it up, stay a few years and then move on to a house in the suburbs, or one in a better school district, as many people do.

It didn’t take long for that plan to stop making sense.

“Once you’ve got all that work done, where would we go in the city except to another place that somebody had just fixed up?” said Ms. Lasser, 40, a stay-at-home mother who’s pregnant with her second child. “We’d just be switching apples for apples.”

Ms. and Mr. Lasser, 43, a filmmaker, are not the only homeowners with doubts about moving these days. Americans have been moving less over the years, with only 11 percent changing households in 2017, down from 13 percent in 2007, according to United States census data. Historically, we stayed in our homes for around six years; now we’re now staying for 10, according the National Association of Realtors.

The mood is affecting how we live in our homes and where we spend our money. More than three quarters of the respondents to an October Zillow survey, for example, reported that, given the option, they’d rather spend a lump sum of money renovating their current home than on a down payment for a new one.

What happens, though, when the home you think is your starter house becomes your forever house?

As first-time home buyers, we often cobble together what we have for a down payment with the expectation that in five years (because, face it, we like to believe that life operates on an endless loop of five-year plans) we’ll upgrade to something larger, or in better condition, or in a better neighborhood. Realizing that we may not actually be able to move runs counter to an American ideal that there’s always a better version of our lives a few pay raises away.

“We are restless people, we like to feel like we could move at any time. If you think of your house as your starter home, you know you can just leave,” said Melody Warnick, the author of “This Is Where You Belong: Finding Home Wherever You Are.” “That’s a belief that we cherish because it gives us a sense of freedom.”

But increasingly, the math doesn’t work and we find that we’re not so free to go.

A brew of short- and long-term trends has led us to this moment. Millennials, saddled with student debt, are buying their first homes later in life, and so are less likely to move again. Inventory is tight (largely because homeowners aren’t moving), home prices are high, and interest rates are rising.

Added to that, the 2017 federal tax overhaul capped the mortgage interest deduction at $750,000 and limited sales and local tax deductions to $10,000 a year, making it less desirable for owners in high-tax states like New York to buy a home with a jumbo mortgage or a giant property-tax bill.

In short, if you were lucky enough to lock in a historically low interest rate, whatever you buy today will cost you more than it did just a few months ago. The Lassers, for example, pay roughly $12,000 a year in property taxes for the six-bedroom house that they bought for $1.475 million in 2016. But if they decided to move to the suburbs, their property taxes would likely be higher, and if they bought a house priced at or more than what they paid for their current home, their monthly mortgage payments would be substantially higher at current interest rates.

“With our next purchase, we will have less buying power,” Ms. Lasser said. After the couple finishes bringing the house back to its original glory — a $350,000 project that will involve restoring the original exterior and interior details, gut renovating four of the six bathrooms and renovating the kitchen — she doubts they’ll actually want to leave.

“If you’ve gone through one remodel, I don’t think you ever want to do it again,” she said. “And where would we go?”

Companies such as Fusion Exteriors provide various services all the way from free estimation on all the work to professionals who ensure perfection in every task they perform.

Now, rather than scrolling Zillow listings, the couple is paying closer attention to their neighborhood schools, a detail they had overlooked when they bought the place because they figured they’d be gone by the time their daughter, now 4, was old enough for elementary school. “We were not at all prepared for her being in elementary or middle school in the city,” she said.

There are upsides to abandoning the idea of the next house. People who have lived in one place for a long time report feeling better, healthier and more content, according to Ms. Warnick. “Imagine if you channeled some of that restless energy into building strong relationships with people in your neighborhood or planning the block party?” she said.

But if you bought your home during one life stage, it may not necessarily fit so well with the next one.

Mary Botel, 38, bought a 750-square foot bungalow in Portland, Ore., in 2011 for $100,000, when she was single. At the time, she thought it was a good deal and a great place to live for a few years. Seven years later, she is married and now shares the tiny space with her husband, Blaine Botel, 35, and his teenage son. The quarters are tight, requiring the family to pare down on their possessions and stay organized. “Everything now has to have a place,” she said.

Initially the neighborhood was rough — her car was stolen once and so were her boots, snatched off the front porch in the middle of winter. But as the economy improved, so too did the neighborhood. Now apartments in the rental building next door rent for about $1,400 a month, substantially more than Mrs. Botel’s mortgage payments. “If we were to move today, even if we sold, our money wouldn’t go very far,” said Mrs. Botel, who works for Multnomah County, Ore.

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