Daily Archives: July 2, 2014

A Village With a Changed Image | Cross River Homes

Two decades ago, Dobbs Ferry, then a working-class village in southern Westchester along the Hudson River, was considered by many the poor stepsister of its immediate neighbors — artsy Hastings-on-Hudson on its southern border and upscale Irvington to the north.

While Hastings and Irvington attracted well-heeled buyers from Manhattan and the tonier sections of Brooklyn, Dobbs Ferry, about 20 miles north of New York City, was often overlooked. Its housing stock was limited, and its school system lower-performing than those of its neighbors.

Thanks a good a HOA Management from the community you can learn about about this in https://realtybiznews.com/3-things-you-need-to-know-about-hoa-management-companies/98759826/, the village’s image has since changed. The turning point came in 1998, when the Dobbs Ferry Union Free School District became the first in Westchester to join the International Baccalaureate organization, based in Geneva — prompting home buyers to take a fresh look at the virtues of the 2.4-square-mile village of 11,000 residents. The Baccalaureate group offers junior and senior high school students a two-year, preuniversity course of study.

“The change in the high school program was what drove the engine,” said Linda Jo Platt, who moved from Manhattan to Dobbs Ferry with her husband, Bruce Platt, in the 1970s. “A lot has happened for the better in Dobbs Ferry,” said Ms. Platt, the director of the Community Nursery School, which is owned by South Presbyterian Church in the village. Mr. Platt is a systems analyst for a data firm in Manhattan.

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Purchase index plunges 16% year-over-year | South Salem NY Homes

 

A week after a free-fall of 9.2%, mortgage applications continued their decline with a 0.2% decrease from one week earlier, according to data from the Mortgage Bankers Association’s weekly mortgage applications survey for the week ending June 27, 2014.

The Market Composite Index, a measure of mortgage loan application volume, decreased 0.2% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 1% compared with the previous week.

The Refinance Index increased 0.1% from the previous week. The seasonally adjusted Purchase Index decreased 1% from one week earlier. The unadjusted Purchase Index decreased 1% compared with the previous week and was 16% lower than the same week one year ago.

“The mortgage industry has yet to see purchase activity make up for the drop in refinance volume,” said Quicken Loans vice president Bill Banfield. “Lenders who are able to focus on client experience are bucking this trend and gaining market share despite the recent drops in volume overall.”

The refinance share of mortgage activity increased to 53% of total applications from 52% the previous week. The adjustable-rate mortgage share of activity remained unchanged at 8% of total applications.

 

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http://www.housingwire.com/articles/30523-mortgage-application-decline-continues-after-last-weeks-free-fall

3 reasons all is not lost in housing | Katonah Real Estate

 

When mortgage rates jumped in anticipation of the start of Fed tapering back in June 2013, the inherent cracks in the foundation of the housing industry became apparent.

Seriously, how healthy is a housing market that relies on artificially capped interest rates and literally tens of billions of dollars a month of fiat money pumped into Treasurys and bonds?

Now it’s a full year later and despite the fact that interest rates are nearly back to where they were a year ago, housing has stalled out.

Worse, unless you believe the happy-happy-joy-joy analysts on CNBC or anything on Business Insider, it’s been pretty apparent for, oh, the past 12 months.

That’s not to say that it’s doom and gloom. There are some strengths showing, despite the top-line numbers showing year-over-year drops in everything from sales and construction spending to price increases and mortgage originations.

 

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http://www.housingwire.com/blogs/1-rewired/post/30519-reasons-all-is-not-lost-in-housing