Tag Archives: Cross River NY Realtor

Mortgage applications continue downward heading | Cross River Real Estate

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Mortgage applications fell 5.9% from one week earlier, according to the Mortgage Bankers Association’s weekly survey of mortgage applications for the week ending April 25, 2014.

Applications perked up last week by 4.3%, breaking a four-week streak of declines.

The Market Composite Index, a measure of mortgage loan application volume, fell 5.9% on a seasonally adjusted basis from one week earlier.

The Refinance Index decreased 7% from the previous week. The seasonally adjusted Purchase Index decreased 4% from one week earlier.

“Both purchase and refinance application activity fell last week, and the market composite index is at its lowest level since December 2000,” said Mike Fratantoni, MBA’s chief economist. “Purchase applications decreased 4% over the week, and were 21% lower than a year ago. Refinance activity also continued to slide despite a 30-year fixed rate that was unchanged from the previous week. The refinance index dropped 7% to the lowest level since 2008, continuing the declining trend that we have seen since May 2013.”

 

 

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http://www.housingwire.com/articles/29838-mortgage-applications-continue-downward-heading

Vacation homes are back in vogue | Cross River Homes

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Vacation home sales rose strongly in 2013, while investment purchases fell below the elevated levels seen in the previous two years, according to the National Association of Realtors.

NAR’s 2014 Investment and Vacation Home Buyers Survey, covering existing- and new-home transactions in 2013, shows vacation-home sales jumped 29.7 percent to an estimated 717,000 last year from 553,000 in 2012.

Investment-home sales fell 8.5 percent to an estimated 1.10 million in 2013 from 1.21 million in 2012.

Owner-occupied purchases rose 13.1 percent to 3.70 million last year from 3.27 million in 2012. The sales estimates are based on responses from households and exclude institutional investment activity.

NAR Chief Economist Lawrence Yun expected an improvement in the vacation home market. “Growth in the equity markets has greatly benefited high net-worth households, thereby providing the wherewithal and confidence to purchase recreational property,” he said. “However, vacation-home sales are still about one-third below the peak activity seen in 2006.”

Vacation-home sales accounted for 13 percent of all transactions last year, their highest market share since 2006, while the portion of investment sales fell to 20 percent in 2013 from 24 percent in 2012.

Yun said the pullback in investment activity is understandable. “Investment buyers slowed their purchasing in 2013 because prices were rising quickly along with a declining availability of discounted foreclosures over the course of the year,” he said.

“In 2011 and 2012, investment property was a no-brainer because home prices had sharply over corrected during the downturn in many areas, creating great bargains that could be quickly turned into profitable rentals. With a return to more normal market conditions, investors now have to evaluate their purchases more carefully and do their homework,” Yun added.

The typical vacation-home buyer was 43 years old, had a median household income of $85,600 and purchased a property that was a 180 miles from his primary residence.

Buyers plan to own their recreational property for a median of six years, down from 10 years in 2012.

 

 

http://www.rew-online.com/2014/04/10/report-vacation-homes-are-back-in-vogue/

 

Housing market gets some upbeat news | Cross River Homes

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U.S. single-family home prices rose in September and posted their strongest  annualized gain in 7-1/2 years, a closely watched survey said on Tuesday.

The S&P/Case Shiller composite index of 20 metropolitan areas gained  0.7 percent in September on a non-seasonally adjusted basis, matching the  Reuters forecast.

Earlier, the Commerce Department said permits for future U.S. home construction rose to their highest level in nearly 5-1/2 years in October.

“Housing continues to emerge from the financial  crisis: the proportion of homes in foreclosure is declining and consumers’  balance sheets are strengthening,” David Blitzer, chairman of the index  committee at S&P Dow Jones Indices, said in a statement.

“The longer  run question is whether household formation continues to recover and if home  ownership will return to the peak levels seen in 2004.”

Prices in the 20  cities rose 13.3 percent year-over-year, the strongest gain since February 2006,  topping expectations for a 13 percent year-on-year advance.

Meanwhile, the Commerce Department said building permits jumped 6.2 percent to a seasonally adjusted annual rate of 1.03 million units. That was the highest rate since June 2008. Permits increased 5.2 percent in September.

August’s permits were revised to a 926,000-unit pace from the previously reported 918,000 units. Permits lead housing starts by at least a month.

The Department postponed the release of housing starts and completions for September and October until December 18 because the collection of data was affected by a 16-day shutdown of the government last month. November data also will be published at that time.

The partial shutdown of the federal government also delayed the publishing of the September and October permits reports.

Economists polled by Reuters had expected building permits at a 930,000-unit rate in October.

While permits are not counted in gross domestic product (GDP), they are a key indicator of economic activity and the sturdy gains in both September and October should ease concerns the housing market recovery was stalling.

Higher mortgage rates have slowed the pace of home sales, but demand for accommodation as household formation continues to recover from multi-decade lows is expected to keep residential construction supported.

Home resales fell in October for a second straight month and confidence among single-family home builders has ebbed somewhat since nearing an eight-year high in August.

Permits for the multifamily home sector surged 15.3 percent in October after increasing 20.1 percent in September. Permits for buildings with five units or more reached their highest level since June 2008.

Single-family home permits, the largest segment of the market, increased 0.8 percent after falling 1.9 percent in September.

 

 

http://www.nbcnews.com/business/some-good-news-housing-market-building-permits-leap-2D11658882

How to Optimize Your YouTube Video for Maximum Traffic | Cross River Realtor

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When companies plan their marketing strategies, they often make the mistake  of ignoring YouTube as a possible channel for lead development. Social media,  PPC and other fields are accepted as vital, but YouTube? How much marketing use  is the world’s foremost provider of cute kitten videos?

Actually, YouTube represents fertile ground for lead generation. People tend  to forget YouTube is in fact a social platform just like as Facebook and Twitter  with sharing capabilities, comments and likes as part of its features. While the  video site’s search page is now the second most popular search engine (and  thanks to Google’s acquisition of YouTube, intricately connected to the number  one search option).

Why Upload to YouTube?

Many companies choose to host their videos on their own websites instead of  uploading media to YouTube and then linking within the website. This is, quite  frankly, a mistake.

Why?

  • The video adds value to your website, but only enriches user experiences if  people visit the site.
  • A video hosted on your own website only gets viewed by people who come to  your site, limiting how many people find and view it.
  • If you let YouTube host your videos, people are more likely to find them,  and if their response is favorable, they’re more likely to visit your site for  additional information.

Social Media Strategies and YouTube

Many of the social media strategies used on Twitter and Facebook work equally  well on YouTube. YouTube users can:

  • “Like” and “Favorite” individual videos
  • Leave comments
  • Subscribe to channels

This much like following Tweets or Liking a Facebook page. These  features offer opportunity to engage your audience in dialogue, and not just in  the comments section. Your videos give your company a human face no amount of  tweeting and Facebooking can match, because the viewer sees and hears you. Some  videos spark video responses, offering opportunity for a very public and  interactive dialogue.

 

 

 

 

Read more at http://www.jeffbullas.com/2013/11/26/how-to-optimize-your-youtube-video-for-maximum-traffic/#LSB1b7Q3bqLuDDpS.99

JPMorgan reaches $4.5B settlement over mortgage-bond claims | Cross River NY Homes

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Mega bank JPMorgan Chase (JPM) reached a $4.5 billion agreement with 21 major institutional investors Friday to resolve legacy mortgage-backed securities issues.

The institution made a binding offer to the trustees of 330 RMBS trusts issued by Chase and Bear Stearns — a firm taken over by JPM in the wake of the financial crisis.

The settlement represents another critical step in the bank’s efforts to resolve mortgage-related legacy matters, the bank said.

“As agreed in today’s settlement, the institutional investors have committed to support the settlement and have requested that the trustees accept the settlement offer,” the company said.

The announcement continued, “The offer, which the trustees may seek court approval for, would resolve all representation and warranty claims as well as servicing claims on all trusts issued by JPMorgan Chase and Bear Stearns between 2005 and 2008.”

The offer will remain open until Jan. 15, 2014, but may be extended pursuant to its terms for an additional 60 days.

The offer includes six key terms, including payment by the bank of $4.5 billion in cash to settle all representation and warranty claims as well as servicing claims that were asserted by the RMBS trusts.

Additionally, it provides for the implementation of certain servicing changes to mortgages serviced by Chase in the RMBS trusts, as well as continuation of a previously agreed tolling and forbearance agreement among the bank and the trustees while the proposed settlement is evaluated.

 

 

http://www.housingwire.com/articles/27997-jpmorgan-reaches-45b-settlement-over-mortgage-bond-claims

 

Realogy and Trulia might make a nice couple, but are they really headed to the altar? | Cross River Real Estate

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Rumors that real estate behemoth Realogy may be in talks to acquire Trulia pushed the price of the listing portal’s shares up 10 percent before markets closed today, but analysts who follow the companies didn’t think much of all the talk.

Realogy — which runs some of the biggest brands in real estate including Coldwell Banker Real Estate, Century 21 Real Estate and Better Homes and Gardens Real Estate — declined to comment. So did Trulia.

Stock analysts who follow the companies said the merger chatter — which put a $52-per-share price target on Trulia, implying a deal in the $2 billion range — was probably just that.

“To me, it feels like a bogus rumor because someone needed to get out of a position,” said Bradley Safalow, founder and CEO of stock analysis firm PAA Research.

Zachary Prensky, managing partner of Little Bear Investments, said he thought the rumor was a “complete fabrication.”

Still, suggestions that an established real estate company like Realogy would (or should) make a play for a listing portal like  Zillow or Trulia have been in play this year.

 

 

 

 

– See more at: http://www.inman.com/2013/11/13/realogy-and-trulia-might-make-a-nice-couple-but-are-they-really-headed-to-the-altar/#sthash.0v2xongA.dpuf

6 Tips for Finding Prospects on LinkedIn | Cross River Real Estate

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Are you using LinkedIn to connect with new leads and clients?

Do you want to learn about social selling tactics on LinkedIn?

Social selling is the use of social media to discover and connect with new leads and new clients.

In this article, you’ll discover a 6-step process to find new leads and attract new clients on LinkedIn.

Start social selling on LinkedIn with these 6 simple steps. Image source: iStockphoto

#1: Make Your Profile Easy to Find

Most of social selling requires an active outreach process. But you can draw prospective clients to you when you optimize your profile with keywords a potential new client might use when seeking out someone with the products or services that you provide. Add strong keywords to the Title and Summary sections of your profile to ensure you show up in search results.

Remember that you’ll only show up in search results for people in your network. This includes first-, second- and third-level connections, and people who are members of groups you belong to. For this reason it’s beneficial to have a larger LinkedIn network rather than keeping it limited to close personal connections.

The more connections you have, the more searches you will show up in. That said, try not to treat LinkedIn as a popularity contest, since you’re limited to 3000 connection invites.

#2: Create Strategic Alliances

Next you’ll want to remember to network and build business relationships with peers in your industry.

Find professionals who share a target market similar to yours, but don’t offer the service you provide. Once you connect with them, consider fostering a reciprocal relationship to generate referrals for each of you.

Before connecting with a prospect, ask yourself “What do I have to offer her?”

The third-party credibility you receive will dramatically shorten the sales cycle with prospective clients.

#3: ‘Search’ for Opportunities

Now you can focus on finding the prospects you want for your business.

First, join a few LinkedIn groups to network with a wider audience.

Second, use the excellent functionality of Advanced Search to find prospects. You can filter by relationship, groups, location and industry, and the Save Search function even allows you to store effective criteria.

Search by relationship, groups, location and industry.

Use the Tags feature in LinkedIn Contacts to sort your results and save profiles of prospects to the Profile Organizer without being connected to them.

#4: Carefully Craft Your Message

After you identify someone you want to connect with, you’ll want to carefully tailor your communication.

A great first impression with your prospects on LinkedIn should leave them with an interest in your service and a willingness to continue communication.

 

 

 

http://www.socialmediaexaminer.com/finding-clients-on-linkedin/

5 tips for career longevity in real estate | Cross River Real Estate

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Have you ever wondered what differentiates those who stay healthy and engaged well into their 80s or even their 90s as opposed to those who don’t? If you want to have a healthier, happier and more fulfilling life, take a few hints from some people who have managed to do it.

I recently had a conversation with fellow real estate coach Joeann Fossland about a session she will be doing for our Awesome Females in Real Estate group called “Being Beautiful at Any Age.”

As we were chatting about the session, she shared an interesting conversation that she had with one of her coaching clients. She was having some issues with her back and she flinched when she moved. Her client asked her, “Do you have arthritis?”After careful thought, Joeann responded by saying, “Having arthritis sounds like something is broken and that it can’t be fixed.

I prefer to think that there are some days when I have some pain and other days when I don’t.”She then shared another story about a speaker who had been told he would need knee surgery.

He was a runner and refused to stop running. Each time he ran, he kept telling himself that the pain he was experiencing was his body healing itself. Several months later when he went in for another MRI, and his knee had healed.

 

read more…

 

http://www.inman.com/2013/09/19/5-tips-for-career-longevity-in-real-estate/#sthash.CGbxtIRc.dpuf

Green Buildings Could Be Half U.S. Projects, Worth $248 Billion By 2016 | Cross River Real Estate

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Green building may represent more than half of all commercial and institutional construction as soon as 2016. CleanTechnica looks into a new report from the USGBC entitled “LEED in Motion: People and Progress,” that details green building’s exponential growth and outlines both the value of the industry and its reach into American Lives. Among the highlights:

  • More than 4.3 million people live and work in LEED-certified buildings
  • More than 6.2 million people interact with LEED projects every day during their daily routine
  • Green building represented 44 percent of all commercial and institutional construction in the U.S. in 2012, and this percentage should increase to 55 percent by 2016.

 

http://www.ecobuildingpulse.com/legislation/

Mark your calendars: Key housing reports due out this week | Cross River Real Estate

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Home Prices

The Dow Jones faced a wild ride this past week, tumbling 200 points by market close on Friday.

Investors left to deal with the aftermath will rely heavily on several monetary policy and housing reports due out this week.

Wednesday is a busy day for the markets with the Federal Reserve expected to release its latest minutes from the Federal Open Market Committee. Investors needing a more in-depth look on how the committee assessed the future of mortgage-backed securities purchases can visit HousingWire for full coverage. The Fed also kicks off its annual 3-day annual symposium in Jackson Hole, Wyo., on Wednesday.

On the same day, the National Association of Realtors existing-home sales report is due out, followed by the FHFA home price index on Thursday and the government’s latest new home sales report on Friday.

Visit the HW US Economic Calendar to track all these events and more.

 

http://www.housingwire.com/articles/26257-mark-your-calendars-key-housing-reports-due-out-this-week