Monthly Archives: August 2013

Facebook Changes News Feed Algorithm | Armonk Realtor

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Welcome to our weekly edition of what’s hot in social media news. To help you stay up to date with social media, here are some of the news items that caught our attention.

What’s New This Week?

Facebook Updates the News Feed Ranking Algorithm: There are two new features to note regarding Facebook’s new news feed: Story Bumping and Last Actor. Both of these now ensure that Facebook users see more of the updates from the people they interact with.

“This update does a better job of showing people the stories they want to see, even if they missed them the first time.”

 

YouTube Rolls Out Live Streaming and More Channel Tools: Live streaming is rolling out for channels with 100+ subscribers. You can also choose and upload your favorite image to create your custom thumbnail. You can add annotations to your video to “link externally to various online stores and your associated websites.” And you can now mark your playlist as a “series”—YouTube will then show viewers of your videos the next episode from the series and a link to the whole playlist. If you’re on YouTube, be sure to check them out.

You can activate YouTube Live Streaming under your video manager channel settings

LinkedIn Introduces the Ability to Apply for Jobs on Mobile: LinkedIn makes “it possible for LinkedIn members to directly apply for jobs that interest them, right from their iOS or Android device.”

Facebook Launches Graph Search to Everyone in U.S. English: “Graph Search makes it easier to make new connections; you can continue to search for friends and pages by name, or use simple phrases to find something specific across people, photos, places, interests and more.” It is now available to everyone in the U.S. in English.

Housing inventory rises in July | Mt Kisco Real Estate

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Inventory of U.S. homes for sale rose 1.41 percent in July from June and was down 5.27 percent from July 2012, marking the second consecutive month that year-over-year inventory percentage declines were in the single digits, according to a realtor.com report released today.

The median list price of homes for sale remained unchanged from June at $199,900, and homes took 6.25 percent longer to sell in July than in the previous month, the report showed.

“The recovery is entering a new phase where inventory shortfalls are no longer the driving force behind changes in housing prices in many markets,” said Steve Berkowitz, CEO of realtor.com operator Move Inc., in a statement. ”Larger inventories, especially in the hotter markets that experienced rapid price increases in the spring, are expanding buyers’ choices and helping to moderate price increases.”

– See more at: http://www.inman.com/wire/housing-inventory-rises-in-july/#sthash.EUyqWE6m.dpuf

British inflation slows but property prices gallop higher | North Salem Homes

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Price rises in most parts of Britain’s economy are cooling but a red-hot property market is raising questions about whether the Bank of England will be able to keep rates low for as long as it would like.

Official data on Tuesday showed consumer price inflation slowed to 2.8 percent last month, moving closer to the central bank’s 2 percent target. However, house price inflation – which does not feed directly into the consumer price index – sped up.

A July survey from the Royal Institution of Chartered Surveyors found the fastest growth in house prices since 2006. Official data showed house prices in London, which typically lead the rest of the country, jumped 8.1 percent in June compared with the same month a year ago.

Britain’s central bank pledged last week to keep rates at a record low until unemployment falls to 7 percent – something it does not expect to happen before 2016 – as long as this does not threaten inflation expectations or financial stability.

While the BoE’s new boss, Mark Carney, has played down concerns about rising house prices, signs the market is overheating could force the central bank to raise interest rates from their current 0.5 percent earlier than planned.

“The recovery in the UK housing market and rising house price inflation will simply add to the Bank’s concerns that it might need to nip any impending housing bubble smartly in the bud,” said David Brown at New View Economics.

“It is no surprise that the UK pound is starting to get a better spring in its step versus the dollar. The market is starting to get a strong whiff of an early rate rise.”

LOW FOR HOW LONG?

Sterling rose after Tuesday’s data as investors increasingly bet that the Bank of England would start raising rates in 2015 – a year before the BoE’s guidance suggests.

How much the other eight members of the Bank’s Monetary Policy Committee worry about house prices will become clearer on Wednesday, when minutes of this month’s policy meeting are published.

Analysts expect the vote to implement so-called forward guidance was unanimous, but reckon the knockout clauses allowing the Bank to raise rates earlier were included in order to keep the more hawkish members of the committee on board.

“We will look to the minutes to see how concerned some policymakers were about credibility, as well as further signs of controversy over the setting of the threshold level,” said Philip Shaw at Investec.

Britain is one of the few major Western economies facing the problem of above-target inflation but the BoE is confident that price pressures will ease over the next two years – although it has been wrong before. Core inflation, which strips out volatile food and energy costs, has already returned to 2 percent.

Property inflation, however, could be harder to tame.

The second phase of the government’s Help to Buy scheme – which offers state-backed mortgage guarantees – will come into force from January. Despite criticism from the International Monetary Fund, Britain’s Office for Budget Responsibility and a senior minister, the government has insisted the scheme will last for three years, as planned.

 

read more…

 

http://www.reuters.com/article/2013/08/13/us-britain-economy-idUSBRE97C0I620130813

 

 

Mapping 13 Of New York City’s Hidden Historic Cemeteries | Katonah Real Estate

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It’s all too easy to walk right by New York’s lesser-known burial grounds, which tend to be somewhat run-down—the tombstones eroding; the weeds encroaching—and sandwiched between myriad newer developments that have risen since. Many, too, are in Lower Manhattan, simply because it was the first part of the city to become densely populated. In this attempt to map out some of the city’s hard-to-find historic cemeteries, though, we’ve tried to select sites in different parts of the five boroughs, as well as ones with somewhat quirky or heartfelt backstories (like Riverside Park’s Amiable Child’s Monument) or valiant preservation battle in their names (like the Brinckerhoff Cemetery in Fresh Meadows). We know we’ve missed a few, so tell us your favorites in the comments section or hit up the tipline with your favorite hidden resting spots. (You know, the kind for all eternity.) Let the thanatological explorations begin!

New York City’s Hidden Cemeteries
Joseph Rodman Drake Park
Located in Hunt’s Point, what’s special about this slightly rougher park is that there’s an out-of-the-way cemetery right in the middle of it. Inside the wrought-iron gates, you can spot names from prominent Bronx families, which are now street names. It also served as a slave burial ground. [Source: New Yorkers For Parks and NYC Park Advocates; photo via NYC Parks.]
Hunts Point Ave., Bronx, NY 10474
40.815268110209736-73.88693158532636
New York Marble Cemetery
Dubbed “the smallest burial ground in Manhattan,” Marble Cemetery is surprisingly well-known considering its size and its extremely small and subtle entrance gates. It’s apparently the oldest public non-sectarian cemetery in New York City; over 2,000 people were buried in white marble tombs here between 1830 and 1870. Opening hours are limited, so check the website for details.
USA
40.72543015839865-73.9908166227313
New York City Marble Cemetery
Considering that it’s just around the corner, it’s no wonder that many confuse the New York City Marble Cemetery with its East Village neighbor, the New York Marble Cemetery. (Go figure, we just hope 19th-century undertakers didn’t have the same problem.) Fun fact: former president James Monroe was one of the first folks to be buried here, but his remains were later moved to his home state of Virginia. The cemetery has been around since 1831 and has limited opening hours, so make sure to contact the cemetery via its website if you want to visit.
72 E 2nd St., New York, NY 10003
(212) 228-6401
40.724575625390415-73.98901462554931
The Amiable Child Monument
Can it be a cemetery when there’s only one person buried there? We think so. Originally erected in 1797 to honor the death of a five-year-old boy (probably because of the dangerous cliffs in this part of the West Side), the Amiable Child Monument has survived to this day despite advocates who wanted to move it when nearby Grant’s Tomb was built in the late 19th century. Many believe it is the the only single-person private grave on city-owned land.
New York, NY
40.814539425166174-73.96317603307724
Prospect Cemetery
This 350-year-old burial ground has seen renewed interest lately, primarily as the subject of a documentary in the works, which according to director Peter Riegart’s Kickstarter campaign last summer, is meant to chronicle how Prospect Cemetery was saved “from the encroachment of nature, neglect, and vandalism.” It’s one of the few colonial graveyards left in Queens.
159th St, Jamaica, NY 11433
40.7010894514207-73.79947900772093
Second Cemetery of the Spanish and Portuguese Synagogue
This triangular sliver of a cemetery has its unique shape for a reason—it once ran along the now non-existent Milligan Street, but 11th Street’s extension to Sixth Avenue in 1830 destroyed half of it. Behind a wall and a ting gate, you’ll find a mossy brick path surrounded by about 30 graves, including an above-ground tomb and a striking monolith. It’s the second cemetery of the Spanish & Portuguese Synagogue of the Congregation Shearith Israel, the first Jewish congregation in North America. The congregation also has two other gems. [Photo via Nick Carr of Scouting NY.]
76 W 11th St, New York, NY 10014
40.73540509948313-73.99995803833008
Brinckerhoff Cemetery
After a long battle, preservationists won landmark status for Brinckerhoff Cemetery last summer. Though there are no visible headstones, and the lot sandwiched between two residential houses in Fresh Meadows is overgrown with weeds, there are historical records that prove that the Brinckerhoffs, a notable farming family, had 76 plots here dating from between 1736 and 1872. [Photo via New York City Cemetery Project.]
182nd St, Queens, NY 11423
40.73188728199628-73.78840882601642
Moore-Jackson Cemetery
Though it’s been in use since the early 1730s, when it was adjacent to a colonial farmhouse owned by the Moore family, the small cemetery fell into disrepair until it was spiffed up in the 90s. (Forgotten NY has all the details.) Scouting NY paid the cemetery a visit in 2009, took tons of photos, and lamented the fact that this bit of NYC history is still pretty rundown. [Photo via Scouting NY.]
Woodside, NY 11377
40.75591827521789-73.90708493335967
St. Mark’s Church-in-the-Bowery
Though this church is deemed New York’s oldest site of continuous religious practice, and the handsome building itself is the second-oldest church building in Manhattan, few know that resting underneath and tucked on either side are gravestones. One of the city’s most famous (and controversial) early politicians, Peter Stuyvesant, is interred there. His farm used to occupy much of the land where the East Village is now. [Photo via Atlas Obscura.]
131 E 10th St, New York, NY 10003
(212) 674-0910
40.72999058274405-73.9868688583374
Revolutionary War Cemetery
Forgotten New York has come up with a stellar list of off-the-beaten-path burial grounds. It includes Bay Ridge’s Revolutionary War Cemetery, an 18th-century graveyard for members of the Barkaloo family. Even though the last burial took place in 1848, Ephemeral NY reports that there are fresh flags on some of the headstones. Someone in the neighborhood must be taking good care of them. [reportsPhoto via Ephemeral NY.]
NY
40.63711338417339-74.03525359929746
The Reformed Church Of Staten Island
The Cemetery of Staten Island’s Reformed Church, which dates all the way back to the late 17th-century Dutch settlers of Port Richmond, is still in use today. Though the church building itself was erected in 1844, the three previous churches on the site date back to an impressively old 1663. Apparently, according to the Staten Island Advance, “[t]he cemetery’s decorative hand-carved stone grave markers – in brown and red sandstone – represent some of the oldest forms of sculpture and folk art in colonial America.” [Photo via Forgotten NY.]
Staten Island, NY
40.639261-74.131866
Trinity Church Cemetery & Mausoleum
Despite the fact that Trinity Church’s Financial District Location is on everyone’s radar —including tourists’ —fewer folks know about its awesome uptown outpost. The cemetery on Wall Street had reached capacity by the early 1800s (after 150 years of interments), so the all-powerful Trinity purchased land between Amsterdam Avenue and Riverside Drive and West 153rd and 155th streets, according to Forgotten NY. Many, many notables are buried here, including, most recently, Ed Koch. [Photo via Forgotten NY.]
550 W 155th St, New York, NY 10031
40.83250498448109-73.94795939015971
The Cathedral Basilica of St. James
According the New York City Cemetery Project, St. James was the first Catholic church in Brooklyn. Founded in 1822, it wasn’t long until the yard around it became used as a burial ground. Though it’s been the site of thousands of burials, the number of tombstones has dwindled over the years, and these days many are flat against the ground rather than perpendicular, making it difficult for passersby to catch wind of the cemetery’s presence. [Photo via New York City Cemetery Project.]
Jay St, Brooklyn, NY 11201
(718) 852-4002
40.696518118094616-73.98639678955078
Joseph Rodman Drake Park
Located in Hunt’s Point, what’s special about this slightly rougher park is that there’s an out-of-the-way cemetery right in the middle of it. Inside the wrought-iron gates, you can spot names from prominent Bronx families, which are now street names. It also served as a slave burial ground. [Source: New Yorkers For Parks and NYC Park Advocates; photo via NYC Parks.]
Hunts Point Ave., Bronx, NY 10474
40.815268110209736-73.88693158532636
New York Marble Cemetery
Dubbed “the smallest burial ground in Manhattan,” Marble Cemetery is surprisingly well-known considering its size and its extremely small and subtle entrance gates. It’s apparently the oldest public non-sectarian cemetery in New York City; over 2,000 people were buried in white marble tombs here between 1830 and 1870. Opening hours are limited, so check the website for details.
USA
40.72543015839865-73.9908166227313
New York Marble Cemetery
Dubbed “the smallest burial ground in Manhattan,” Marble Cemetery is surprisingly well-known considering its size and its extremely small and subtle entrance gates. It’s apparently the oldest public non-sectarian cemetery in New York City; over 2,000 people were buried in white marble tombs here between 1830 and 1870. Opening hours are limited, so check the website for details.
USA
40.72543015839865-73.9908166227313
New York City Marble Cemetery
Considering that it’s just around the corner, it’s no wonder that many confuse the New York City Marble Cemetery with its East Village neighbor, the New York Marble Cemetery. (Go figure, we just hope 19th-century undertakers didn’t have the same problem.) Fun fact: former president James Monroe was one of the first folks to be buried here, but his remains were later moved to his home state of Virginia. The cemetery has been around since 1831 and has limited opening hours, so make sure to contact the cemetery via its website if you want to visit.
72 E 2nd St., New York, NY 10003
(212) 228-6401
40.724575625390415-73.98901462554931
The Amiable Child Monument
Can it be a cemetery when there’s only one person buried there? We think so. Originally erected in 1797 to honor the death of a five-year-old boy (probably because of the dangerous cliffs in this part of the West Side), the Amiable Child Monument has survived to this day despite advocates who wanted to move it when nearby Grant’s Tomb was built in the late 19th century. Many believe it is the the only single-person private grave on city-owned land.
New York, NY
40.814539425166174-73.96317603307724
Prospect Cemetery
This 350-year-old burial ground has seen renewed interest lately, primarily as the subject of a documentary in the works, which according to director Peter Riegart’s Kickstarter campaign last summer, is meant to chronicle how Prospect Cemetery was saved “from the encroachment of nature, neglect, and vandalism.” It’s one of the few colonial graveyards left in Queens.
159th St, Jamaica, NY 11433
40.7010894514207-73.79947900772093
Second Cemetery of the Spanish and Portuguese Synagogue
This triangular sliver of a cemetery has its unique shape for a reason—it once ran along the now non-existent Milligan Street, but 11th Street’s extension to Sixth Avenue in 1830 destroyed half of it. Behind a wall and a ting gate, you’ll find a mossy brick path surrounded by about 30 graves, including an above-ground tomb and a striking monolith. It’s the second cemetery of the Spanish & Portuguese Synagogue of the Congregation Shearith Israel, the first Jewish congregation in North America. The congregation also has two other gems. [Photo via Nick Carr of Scouting NY.]
76 W 11th St, New York, NY 10014
40.73540509948313-73.99995803833008
Brinckerhoff Cemetery
After a long battle, preservationists won landmark status for Brinckerhoff Cemetery last summer. Though there are no visible headstones, and the lot sandwiched between two residential houses in Fresh Meadows is overgrown with weeds, there are historical records that prove that the Brinckerhoffs, a notable farming family, had 76 plots here dating from between 1736 and 1872. [Photo via New York City Cemetery Project.]
182nd St, Queens, NY 11423
40.73188728199628-73.78840882601642
Moore-Jackson Cemetery
Though it’s been in use since the early 1730s, when it was adjacent to a colonial farmhouse owned by the Moore family, the small cemetery fell into disrepair until it was spiffed up in the 90s. (Forgotten NY has all the details.) Scouting NY paid the cemetery a visit in 2009, took tons of photos, and lamented the fact that this bit of NYC history is still pretty rundown. [Photo via Scouting NY.]
Woodside, NY 11377
40.75591827521789-73.90708493335967
St. Mark’s Church-in-the-Bowery
Though this church is deemed New York’s oldest site of continuous religious practice, and the handsome building itself is the second-oldest church building in Manhattan, few know that resting underneath and tucked on either side are gravestones. One of the city’s most famous (and controversial) early politicians, Peter Stuyvesant, is interred there. His farm used to occupy much of the land where the East Village is now. [Photo via Atlas Obscura.]
131 E 10th St, New York, NY 10003
(212) 674-0910
40.72999058274405-73.9868688583374
Revolutionary War Cemetery
Forgotten New York has come up with a stellar list of off-the-beaten-path burial grounds. It includes Bay Ridge’s Revolutionary War Cemetery, an 18th-century graveyard for members of the Barkaloo family. Even though the last burial took place in 1848, Ephemeral NY reports that there are fresh flags on some of the headstones. Someone in the neighborhood must be taking good care of them. [reportsPhoto via Ephemeral NY.]
NY
40.63711338417339-74.03525359929746
The Reformed Church Of Staten Island
The Cemetery of Staten Island’s Reformed Church, which dates all the way back to the late 17th-century Dutch settlers of Port Richmond, is still in use today. Though the church building itself was erected in 1844, the three previous churches on the site date back to an impressively old 1663. Apparently, according to the Staten Island Advance, “[t]he cemetery’s decorative hand-carved stone grave markers – in brown and red sandstone – represent some of the oldest forms of sculpture and folk art in colonial America.” [Photo via Forgotten NY.]
Staten Island, NY
40.639261-74.131866
Trinity Church Cemetery & Mausoleum
Despite the fact that Trinity Church’s Financial District Location is on everyone’s radar —including tourists’ —fewer folks know about its awesome uptown outpost. The cemetery on Wall Street had reached capacity by the early 1800s (after 150 years of interments), so the all-powerful Trinity purchased land between Amsterdam Avenue and Riverside Drive and West 153rd and 155th streets, according to Forgotten NY. Many, many notables are buried here, including, most recently, Ed Koch. [Photo via Forgotten NY.]
550 W 155th St, New York, NY 10031
40.83250498448109-73.94795939015971
The Cathedral Basilica of St. James
According the New York City Cemetery Project, St. James was the first Catholic church in Brooklyn. Founded in 1822, it wasn’t long until the yard around it became used as a burial ground. Though it’s been the site of thousands of burials, the number of tombstones has dwindled over the years, and these days many are flat against the ground rather than perpendicular, making it difficult for passersby to catch wind of the cemetery’s presence. [Photo via New York City Cemetery Project.]
Jay St, Brooklyn, NY 11201
(718) 852-4002
40.696518118094616-73.98639678955078
Joseph Rodman Drake Park
Located in Hunt’s Point, what’s special about this slightly rougher park is that there’s an out-of-the-way cemetery right in the middle of it. Inside the wrought-iron gates, you can spot names from prominent Bronx families, which are now street names. It also served as a slave burial ground. [Source: New Yorkers For Parks and NYC Park

How to Build a Natural Swimming Pool | Waccabuc Real Estate

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Though fairly common in Europe, natural swimming pools (like the one pictured  above in an Austrian family’s backyard), are in their infancy in the United  States. Ask most American swimming-pool contractors to build a backyard pool and  chances are they’ll roll out a long list of goods, including rebar, gunite,  fiberglass, chlorine and an energy-sapping filtration system. If you need to resurface your pool visit https://willshapools.com/resurfacing/. But in recent  years, a few builders and a growing number of homeowners have learned how to  build pools without relying on a mass of manufactured materials and chemical  additives. They’ve found it’s possible to construct pools that are more about  building with nature and blending into the natural landscape. Natural swimming  pools use gravel stone and clay in place of concrete or fiberglass, and aquatic  plants instead of harmful chemicals and complicated mechanical filtering  systems. The plants enrich the pool with oxygen, support beneficial bacteria  that consume debris and potentially harmful organisms, and give habitat to  frogs, dragonflies and other water life. The result is a beautiful, ecologically  diverse system that is relatively inexpensive to construct. (A natural pool can  he constructed for as little as $2,000 if you do it yourself, while conventional  pools can cost tens of thousands of dollars.) Natural swimming pools require no  harmful chemIcals, are fairly low-tech, and once established call for only a  modicum of management. You won’t have to drain the pool each autumn. Except for  topping it off now and then, you’ll fill the pool only once.

DIG IT

The cheapest and most ecologically sound way to build a swimming pool is  simply to hollow a hole in the ground. You can make your pool as shallow or as  deep as you want, but the key is to make sure the sides slope: Otherwise the  soil will cave in. The ratio should be a 1-foot vertical drop for every 3  horizontal feet. “It’s not a bathtub effect, but more like a soup bowl,” says  Tom Zingaro, partner with Denver-based Blue Lotus Designs, a pool-and  pond-architecture company. One of the main reasons traditional swimming pools  are constructed with a steel framework is to ensure the walls stay vertical and  perpendicular to the bottom surface of the pool. Construct a pool with sloping  sides and you’ll eliminate the need for any steel reinforcement.

ZONING

Reserving at least 50 percent of your pool’s surface area for shallow plants,  either at one end or in a ring around the sides, eliminates the need for  chlorine and expensive filters and pumps. You’ll want to separate the swimming  area of your pool and the filtration area, or plant zone (see the illustration).  A rim within an inch of the water’s surface keeps plants in their place but  allows water from the swimming area to move to the plant zone for filtering, As  water passes through the fibrous root structure of the plants, bacteria  concentrated on the plants’ roots act as a biological filter, removing  contaminants and excess nutrients in the water. Decomposer organisms, also found  in the plants’ root zones, consume the bacteria, effectively eliminating  underwater waste buildup.

Inside the plant zone, the water should get steadily deeper, reaching a  maximum depth of 18 inches near the swimming zone. The outermost 6 inches of the  plant zone will be 2 to 3 inches deep, providing a home for taller aquatic  plants. Submergent and floating vegetation occupy the deeper area.

Besides cleaning the water and making your pool beautiful to behold, the  shallow plant zone warms the water quickly and provides habitat for frogs and  many invertebrates. They’ll appreciate the shallow water for breeding grounds  and repay the favor by eating mosquito larvae.

 

read more…

 

 

Read more: http://www.motherearthnews.com/print.aspx?id={4FBE3EA7-1220-4861-A190-A7421DF6BD4A}#ixzz2cWEgLrUB

Bidding Wars Abate as Markets Stabilize | South Salem Real Estate

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Competition for homes across the U.S. dropped from 68.6 percent in June to 63.3 percent in July. The number of offers facing competition peaked in March at 75.7 percent.

Increasing inventory, rapidly rising home prices and interest rate spikes all contribute to the continuing trend toward a less competitive market. Less measurable market forces such as buyer fatigue and buyers taking summer vacations probably also played a role in this trend.

Budding wars are abating as is in line with other research that points toward the strong sellers’ market beginning to shift toward more balance, giving frustrated home-buyers a bit of relief. Redfin agents report that buyers who have been in the market for even a few months have noticed the change in their favor, the Redfin brokerage reported today.

Redfin agents and analysts are closely monitoring bidding war rates, expecting them to continue their downward trend into the fall. This would be a contrast to last year’s pattern, which saw the market heat up in the autumn months.

The report’s key findings include:

  • As a result of reduced competition, winning offers fell closer to list prices for the second consecutive month. Nationally, the average difference between winning offers and list prices fell to 0.6 percent in July from 0.9 percent in June and 1.4 percent in May.
  • San Diego and Orange County saw the largest decreases in competition, with bidding war rates falling by more than 10 percentage points in July.
  • Washington, D.C.’s bidding war rate saw the smallest decline, falling just 1.2 points in July.
  • Baltimore was the only metro area where bidding wars increased, with an 8.8 percentage point jump in July.

The table below ranks the hottest real estate markets in order of competitiveness.

 

read more…

http://www.realestateeconomywatch.com/2013/08/bidding-wars-abate-as-markets-stabilize/

 

Builder confidence reaches highest level in eight years | Bedford Hills Homes

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Builder confidence in the market for newly built, single-family homes rose three points to an August index score of 59, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index.

This is the fourth consecutive monthly gain, bringing the index to its highest level in nearly eight years, the association noted. Any number over 50 suggests the majority of builders view conditions in a particular segment of the market as “good”.

“Firming home prices and thinning inventories of homes for sale are contributing to an increased sense of urgency among those who are in the market,” NAHB Chairman Rick Judson said.

“Builder confidence continues to strengthen along with rising demand for a limited supply of new and existing homes in most local markets,” noted NAHB Chief Economist David Crowe.

“However, this positive momentum is being slowed by the ongoing headwinds of tight credit and low supplies of finished lots and labor,” he added.

Additionally, two of the three components of the index posted gains in August.

The component gauging current sales conditions increased three points to 62.

Meanwhile, the index gauging sales expectations in the next six months gained a single point to 68.

The traffic index for prospective buyers stayed frozen at 45.

 

 

Builder confidence reaches highest level in eight years | 2013-08-15 | HousingWire.

U.K. Inflation Cools, But House Prices Race Ahead | Pound Ridge Homes

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The annual rate of inflation in the U.K. fell in July and is likely to continue cooling, but house prices are heading in the opposite direction, stoking fears of a new housing market bubble.

The Office for National Statistics said annual inflation slowed to 2.8% in July from 2.9% in June, aided by smaller rises in prices for items including airfares and clothing than a year earlier.

Economists said inflation is likely to continue falling this year and next, easing pressure on household budgets that have been squeezed for several years as wage growth has failed to keep pace with price increases.

Slowing inflation should help put a fledgling recovery in the U.K. economy “on a firmer footing,” said Rob Wood, chief U.K. economist at Berenberg Bank.

Economists added the anticipated slowdown in inflation toward the Bank of England’s 2% annual target should help Bank of England Gov. Mark Carney stick with a pledge to keep the central bank’s benchmark interest rate at a record low of 0.5% until joblessness falls to 7%, unless inflation looks poised to accelerate.

Unemployment averaged 7.8% in the three months to May, and the BOE doesn’t expect unemployment to hit the 7% target until 2016, a sign that it intends to keep British borrowing costs low for another two to three years to support recovery.

Yet even as price pressures in the economy overall are retreating, house prices are rising more sharply and broadly than in more than six years.

In the latest sign of housing market strength, the Royal Institution of Chartered Surveyors’ monthly house prices balance surged to 36 in July from 21 the previous month, the highest since November 2006 when it reached 42.

The balance is calculated by subtracting the proportion of surveyors reporting house prices falls from those who say prices rose. The rise in the balance indicates that the increase in house prices is becoming sharper and broader based.

While it remains some way below the peak in the series of 68.6 in September 1999, what is striking about the pickup is its speed. After a 32nd straight negative or flat balance in March this year, house price growth has surged sharply in just four months.

 

 

U.K. Inflation Cools, But House Prices Race Ahead – WSJ.com.

Mortgage rates hold steady | Bedford Corners Real Estate

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Mortgage rates remained largely unchanged from last week after bouncing around from July to August on market uncertainty as to whether the Federal Reserve will taper its bond-buying program.

Mortgage rates for the week ending Aug. 14, changed very little from the previous week, according to Freddie Mac’s Primary Mortgage Market Survey.

The 30-year, fixed-rate mortgage came in at 4.40%, unchanged from last week, and up from 3.62% last year.

In addition, the 15-year, FRM averaged 3.44%, up from 3.43% last week and also up from 2.88% a year earlier.

The 5-year, Treasury-indexed hybrid adjustable-rate mortgage came in at 3.23%, a slight jump from 3.19% last week and a substantial increase from 2.76% last year.

The one-year Treasury-indexed ARM reached 2.67%, up from 2.62% a week earlier and not far from the 2.69% rate reported a year earlier.

“Fixed mortgage rates have been bouncing around over the past few weeks on market speculation that the Fed will taper some of its monetary stimulus,” said Freddie Mac vice president and chief economist Frank Nothaft. “In fact, 65 percent of economists surveyed by Bloomberg expect the Fed to reduce the amount of bond purchases at its September 17th and 18th monetary policy committee meetings.”

He added, “Currently, mortgage rates on 30-year fixed mortgages are 1.1 percentage points above their all-time low set on November 21, 2012, which translates into $125 more per month in mortgage payments on a $200,000 loan.”

Bankrate also noted that fixed mortgage rates were little changed.

In its weekly national survey, Bankrate reported that the 30-year, FRM rose to 4.57%, while the 15-year, FRM declined to 3.61%. In addition, the 5/1 ARM increased to 3.61%.

 

 

Mortgage rates hold steady | 2013-08-15 | HousingWire.