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The best cities for first-time home buyers | Katonah Real Estate
In the rush to get in on the bargains of the housing crash, first-time home buyers were largely left out. Investors swarmed the most distressed markets, spreading their cash like fertilizer and pushing home prices up far faster than most expected. In less distressed markets, first-time buyers were still hampered, as the pendulum swung hard from loose lending to too-tight credit.
Now, as the spring season brings more listings to the national market and as investors seem to be pulling back a bit, first-time buyers are testing the water again. Some markets, like San Francisco, will likely be cost-prohibitive , while others, like Philadelphia, could offer easier entry to home ownership.
“First-time home buyers were put at a disadvantage against all-cash buyers, but with interest rates still staying low, with the marketplaces having risen fairly decently, you’re seeing the opportunity where it’s less of an investment for investors but a good opportunity for first-time home buyers,” said Steve Berkowitz, CEO of Move Inc. operator of Realtor.com.
Realtor.com ranked the top 10 markets for first-time buyers, using five factors to judge the best: market popularity, prices, inventory, time on market and employment. Pittsburgh, Tampa, Fla., and Philadelphia , ranked highest, mostly because their prices have not spiked much and their unemployment rates are lower than the national average.
http://homes.yahoo.com/news/best-cities-first-time-home-161200437.html
Fixed Mortgage Rates Move Up | Katonah Real Estate
Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates up a bit from last week, applying additional pressure for those local markets that are already feeling an affordability pinch.
News Facts
- 30-year fixed-rate mortgage (FRM) averaged 4.40 percent with an average 0.6 point for the week ending March 27, 2014, up from last week when it averaged 4.32 percent. A year ago at this time, the 30-year FRM averaged 3.57 percent.
- 15-year FRM this week averaged 3.42 percent with an average 0.6 point, up from last week when it averaged 3.32 percent. A year ago at this time, the 15-year FRM averaged 2.76 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.10 percent this week with an average 0.5 point, up from last week when it averaged 3.02 percent. A year ago, the 5-year ARM averaged 2.68 percent.
- 1-year Treasury-indexed ARM averaged 2.44 percent this week with an average 0.4 point, down from last week when it averaged 2.49 percent. At this time last year, the 1-year ARM averaged 2.62 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 links for the Regional and National Mortgage Rate Details and Definitions. Borrowers may still pay closing costs which are not included in the survey.
Quotes Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac.
“Mortgage rates rose following the uptick on the 10-year Treasury note after comments by the Federal Reserve Board Chair Janet Yellen indicated a possible increase in interest rates as soon as early 2015. Also, the S&P/Case-Shiller® 20-city composite house price index rose 13.2 percent over the 12-months ending in January 2014.”
Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation’s residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for one in four home borrowers and is one of the largest sources of financing for multifamily housing.
39 Blogging Tips From the Pros | Cross River Realtor
Are you looking for the latest blogging tactics?
Do you want to know what the blogging pros are doing today?
Keeping up with the latest social media changes is not always easy, and your blogging tactics may need to be refreshed.
We asked 39 blogging pros to share the best blogging tips and tactics worth doing today.
Here’s what they have to say.
#1: Turn Google Hangouts On Air Into Mini-Courses in a Blog
Martin ShervingtonSince I launched PlusYourBusiness, I’ve focused on one main tactic: include as rich a multimedia experience on the blog posts as I can, while remaining useful.
One of the best ways I’ve found to do this is to take an interview and structure it into a mini-course.
So, this is what I do regularly:
Run a Google Hangout On Air. For example, an interview with someone in social media or social SEO.
I then take that interview and have it transcribed. I edit it into key sections, maybe five or six, adding in branding on the front- and back ends. This helps create a flow in the blog by embedding the YouTube videos into the blog post.
Then I take the original full version of the hangout video and embed that at the end, adding in the transcript for those who like to skim through.
So what’s the main advantage? Well, this way people can structure their own learning experience. They can watch one video at a time instead of risking watching one or two hours of videos.
Google Hangouts On Air can be recorded as live, private events in YouTube as well. So even if you don’t want to have one publicly on Google+, you can still achieve the same result. It really is a great way to make your content work a lot harder on your behalf.
Martin Shervington is the author of The Art and Science of Google+ and a marketing consultant.
#2: Make an Audio Version of Your Blog Posts
Greg HickmanRecently, my favorite blogging tactic has been to make an audio version of my blog posts to share on my podcast feed. It introduces a whole new set of content to my podcast audience and lets people consume my editorial content in a new, easy and mobile way.
Some bloggers using this tactic are seeing a 2000% increase in exposure. I’m experiencing this on my own site and it’s even created more engagement in the Comment section, surprisingly enough.
Trulia: 3 weights pull the housing recovery down | South Salem Real Estate
The housing market is recovering, albeit a slow and staggering pace, but it is still improving.
According to Trulia (TRLA) Chief Economist Jed Kolko’s latest Housing Barometer blog, “Of the Housing Barometer’s five indicators, all have improved over the last year except new construction starts. But only rising home prices and falling delinquencies + foreclosures have been steady. The other three measures – sales, starts, and young-adult employment – have zigzagged, both gaining and losing ground over the year.”
So what are the dead weights adding pressure to the strength of the recovery?
In the blog, Kolko defines three variables holding the recovery back.
1. Affordability is getting worse.
Kolko mentions that even though it remains cheaper to buy a home than to rent in the 100 largest metros, homeownership is pricier than last year. “And declining affordability is a bigger challenge for first-time home buyers than for current homeowners looking to trade in a home that has also increased in value,” Kolko said.
2. Investors are slowly exiting.
Since prices have risen and fewer people are losing homes to foreclosure, Kolko noted that investing-to-rent makes less sense. Previously, investors were a main driver in pushing up home sales and prices, but as they step back, price gains are slowing and sales volumes are sagging, he added.
3. The mortgage market is unstable.
Purchase applications and mortgage-based home sales are declining, as rates continue to rise and new regulations are short-term uncertainty. “But this reason may be only a temporary hurdle: rates remain low by historical standards, and the new mortgage rules offer longer-term clarity that should encourage banks to make more loans that are within the new rules,” Kolko said.
Although this unusual winter created some burden on the housing market, these reasons are the main drivers behind recent stumbles in sales and starts.
But the good news: the delinquency and foreclosure rate is dropping, and young adults are going back to work.
http://www.housingwire.com/articles/29441-trulia-3-weights-pulling-the-housing-recovery-down
Is This Housing Indicator Flashing a Warning Signal? | Katonah NY Real Estate
Mortgage applications continued their downward spiral as interest rates climb higher and doubts remain about the strength of the housing market. In the latest update from the Mortgage Bankers Association, for the week ended March 21, applications for home loans fell 3.5 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the index decreased 3 percent.
There has been a steady slide in mortgage applications over the past nine months as the housing market returns to a more sustainable pace. As the chart above shows, applications are near their worst level in years. The Refinance Index plunged 8 percent from the previous week. The Purchase Index managed to increase 3 percent, but on an unadjusted basis, the index was still 17 percent below year-ago levels.
Overall, the refinance share of mortgage activity accounted for 54 percent of total applications, the lowest share since April 2010 and down from 57 percent a week earlier. In fact, the refinance share of mortgage activity has now dropped for seven consecutive weeks. Conventional and government refinance applications led the contraction.
Tour The Palace’s Wildly Lavish $25,000/Night Themed Suites | Waccbuc Homes
All photos by Will Femia.
The New York Palace Hotel is without a doubt one of the city’s most iconic, given its prominent appearances in television and film alone. But taking a look around two of its triplex suites (on the 53rd, 54th, and 55th floors of the Palace’s Towers section) affords an even closer look at the crazy-luxurious options there following a renovation that just finished up last fall. The Jewel Suite opened in November, and it’s completely blinged out with baubles, art, fixtures, and furnishings by jeweler to the stars Martin Katz. Oh, and booking a night there comes with a diamond-studded band. Across the hall lies the Champagne Suite, with a temperature-controlled wine cave and expansive master bathroom. Both suites total more than 5,000 square feet, include private elevators, large terraces with hot tubs, and have floorplans more porn-worthy than many on the market. Oh yes, they’re a mere $25,000/night. Go on, enjoy the photos
http://ny.curbed.com/archives/2014/03/24/tour_the_palaces_wildly_lavish_25000night_themed_suites.php
The best real estate plays in 25 years | Katonah Real Estate
The global real estate market in 2039 will be city-centric, with an increased focus on Asia and other emerging markets, and more investment by the public, according to senior executives at some of the world’s largest investment firms.
The big money sees China, India and other Asian markets as drivers of real estate growth—and investment opportunities.
“Asia will be the future of real estate over the next 25 years,” said Jonathan Gray, who manages about $79 billion for clients as global head of real estate for the Blackstone Group. “The largest investment markets will be in China, India and other countries in the region given their rate of growth. Both public and private real estate markets will be much, much bigger.”
A common criticism of Asian economic growth is the relative disregard for the environment. That concern could be a long term investment opportunity, such as taking advantage of high pollution in China, according to LaSalle Investment Management, a $47.6 billion real estate investment firm.
“Although China will be switching over to renewables by 2039, concerns about unhealthy air will be so intense after two decades of respiratory diseases that they could likely pioneer buildings with filtered air, oxygen supplements and artificial light to replace lost sunlight,” said Jacques Gordon, LaSalle’s head of global research and strategy.
Key to Asia’s rise in real estate will be the increasing importance of its urban centers, a global theme.
Real Housewife Personally Drives Bulldozer Into 42 Star Island | Cross River Real Estate
[Photo Via Ronny Lorist]
Lisa Hochstein is having a great day. The Real Housewife of Miami and her hubby Lenny have finally won her battle to demolish historic 42 Star Island Drive and she celebrated by personally demolishing the house’s porte cochere, she told news reporters yesterday. The house’s sad demise was all over the evening news. “I actually tore down this entire front area here, it was actually really fun. This is a fun job.” said Lisa, contemplated a career change no doubt. The house should take about three weeks to demolish in its entirety, and the new one won’t be finished for another two years.
Exotic Indonesian villa is first major Bitcoin real estate purchase | Katonah Real Estate
HousingWire has been on the forefront of covering Bitcoin in relation to real estate.
The March issue of our print magazine includes a story on the first real estate and real estate financial firms in North America to accept Bitcoin for everything from broker fees to actual investment.
The watershed moment for real estate may have come in early February, when the nascent startup RealtyShares in San Francisco announced it would be the first, as far as anyone can know, real estate investment firm to accept Bitcoin for its crowdfunding real estate investment platform.
Now comes word from Southeast Asia that the first major Bitcoin real estate transaction – valued at more than $500,000 – has closed. The property? A fully managed villa at the deLMango Villa Estate in Bali, Indonesia.
Notably, this may be the largest reported Bitcoin transaction yet. Moreover, it’s not the only high-priced property being shopped among Bitcoin users. The website that facilitated the transaction is currently listing a Paris property with a view of the Eiffel Tower listed for $6.3 million, among other items.
According to CoinDesk:
BitPremier founder and CEO Alan Silbert indicates that the 3,000-square-foot villa sold for more than $500,000, though the exact price paid by the buyer was not revealed.
Silbert, brother of SecondMarket CEO and BitPremier investor Barry Silbert, indicated that the sale is “by far the largest” completed to date via the marketplace, which was launched last May.
As for the house sale, Silbert indicated that due to Indonesia’s unique laws regarding the ownership of real estate by foreigners, the buyer is technically purchasing a long-term lease.