Category Archives: Lewisboro

Purchase apps increase as interest rates slip | Katonah Homes

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Applications for purchase loans increased a seasonally adjusted 3 percent for the week ending Sept. 18 compared to a week earlier and were up 1 percent on an annual basis, according to the latest Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications survey.

During the same period, refinance applications jumped 18 percent, as the average rate for a 30-year fixed-rate mortgage with a balance of $417,500 or less dropped from 4.8 percent to 4.75 percent.

Source: MBA

 

 

– See more at: http://www.inman.com/wire/purchase-apps-increase-as-interest-rates-slip/#sthash.lKzd5toO.dpuf

Single-family housing starts jump | Waccabuc Real Estate

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Single-family housing starts rose 7 percent month over month in August to a seasonally adjusted rate of 628,000, and were up 16.9 percent from a year ago, according to a monthly report from the U.S. Census Bureau released today.

 

Source: U.S. Census Bureau

 

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http://www.inman.com/wire/single-family-housing-starts-jump/#sthash.7MoaTZH2.dpuf

With Upturn, Homes Are More Specialized and Technologically Savvy | South Salem Real Estate

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With the national recovery of the housing market has come a return to larger and more expensive homes. Residential architects are reporting more specialized uses of space and the growing interest in special function rooms. Examples include outdoor living spaces, mud rooms, in-law suites, and safe rooms. With more specialized uses of space has come an increased interest in special features, many of which provide greater accessibility for an aging population. New technologies are also seeing a dramatic increase in popularity, both in new and remodeled homes. Popular new products offer greater energy efficiency and often provide households with fewer maintenance obligations.

These are some of the key findings from the AIA’s Home Design Trends Survey from the second quarter of 2013. Business conditions have been steadily trending up since early 2012, and—given the strong levels of inquiries for new projects, the growing levels of project backlogs, and the uniformly strong readings from firms across all regions of the country—workloads for residential architects promise to remain strong in the quarters ahead. During the past year, residential architects have reported a recovery in virtually every residential construction sector. Coupled with already strong readings in home improvement activity, there now is a very strong base for future improvement in market conditions.

Special function rooms rebound in popularity

As home sizes shrank during the housing downturn, special function rooms were particularly hard hit. Many households view special function rooms as discretionary, and therefore easier to eliminate as homes were downsized. Now that average home sizes are growing again, interest in special function rooms is beginning to reemerge.

Rooms that have seen particularly strong growth in popularity over the past year are outdoor living areas and rooms, and mud rooms/drop zones. Almost 63 percent of residential architects surveyed report that interest in outdoor living areas/rooms are increasing, while fewer than 2 percent report interest to be declining. For mud rooms/drop zones, more than 45 percent of respondents report increased interest, while only about 1 percent report a decline. For both of these areas, scores are well up from year-ago levels.

 

 

http://www.aia.org/practicing/AIAB099983

12 Awesome Social Media Facts and Statistics for 2013 | Cross River Realtor

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social media facts and statistics

As the world continues to embrace social media, the ways we use the social  networks are becoming clearer.

Twitter with its short and snappy messaging is very dependent on mobile usage  and smart phones. The rise of the visual web is making Pinterest and Tumblr the  fastest growing social networks on the planet. Facebook is where we share with  friends and family. Google+ is no longer an afterthought and is embedded in  Google’s web assets including Gmail, local checkins and the mobile Android  ecosystems.

Google is getting the data it wants from Google+. Demographics, usage and  content popularity. This is feeding into how it is ranking search results and  much more. The universes of content, social and search are being woven together  and creating a web experience that looks more like magic everyday. The social  and mobile web is becoming an extension of our lives as we share, search and  upload photos.

Artificial intelligence that adds other dimensions to humanity has already  arrived but we just don’t notice it. We take it for granted

So what are the latest social media facts and statistics provided by the  latest study by GlobalWebIndex for the second quarter of 2013?

#1. Google+ is catching up to Facebook

Facebook still dominates at 70% of account ownership but Google+ is not far  behind at just over 50%. Keep in mind though that Google+ account is mandatory  whenever you create a new  Gmail account. This is pushing up the account  ownership stats. No other social network has Google’s web assets leverage.

The large Chinese internet user population is producing some large Chinese  centric social networks including Sina Weibo, Tencent Weibo and Qzone. So  Facebook doesn’t just have Google+ breathing down its neck. The rise of China’s  social networks will possibly be a threat in the future.

Social media facts figures and statistics 2013 1

#2. Facebook active usage still dominates

Facebook has nearly 50% of all the world’s internet users as active users.  This is only set to increase as regions and countries in the developing world  including Africa, Asia and South America get connected to the web.

Social media facts figures and statistics 2013 1

#3. Pinterest is the fastest growing social network

The visual web is driving the rise of Pinterest and Tumblr with growth rates  of 88% and 74% respectively over the last 12 months. Twitter and LinkedIn though  are still rapid risers with growth rates around 40%.

Social media facts figures and statistics 2013 1

#4. LinkedIn is the most popular for older users

LinkedIn is the network of choice for most knowledge workers and  professionals. It is maybe the most conservative of the social networks due to  the fact it is all about business. It is becoming more social as it has realized  that this will enhance its user penetration and attractiveness.

The latest statistics show it having 7% of its users over 55 and 14% in the  45 to 54 age range.

Social media facts figures and statistics 2013 1

#5. Usage of social networks by older users is increasing

Social networks were and still are a hit with the younger demographics. Don’t  think though that social media is for the teens. The increase in usage by the 55  to 64 year olds is greater than 100% for Facebook, Twitter and Google+.

The young aren’t the only ones having fun.

 

 

 

Read more at http://www.jeffbullas.com/2013/09/20/12-awesome-social-media-facts-and-statistics-for-2013/#zcxL7Wyd1SvY5LVq.99

To back up … or not to back up? | Katonah Realtor

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Well, that should not even be a question — the answer is obvious and always yes! Admittedly, I might be a tad more than anal-retentive, especially when it comes to my mobile devices and specifically my contacts. I still remember the day my Palm device was lost and I didn’t have a current backup.

I later remember, far more painfully, how excited I was about the sled modem for my Palm Vx — the OmniSky modem — and having mobile Internet access.

What I didn’t count on was how unstable it made my device, prone to crashing and data loss. The first time this happened I was traveling and was left to rely on my paper agenda — not having a way to quickly and efficiently restore. Just thinking about this makes me skittish.

By the time I was using my last Treo 650 (which I’m pretty sure is still in my house somewhere), I could back up to a card, which was pretty handy when you consider I had not one but four of these devices over a period of time. I could not imagine not having a current backup, in case of emergency. With my iDevices, Blackberry and other assorted devices, I worry.

Sure, there’s iCloud and Google but, did you know there’s an app for that? Enter IS Contacts Kit.

 

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http://www.inman.com/next/to-backup-or-not-to-backup/#sthash.LtRGzg0f.dpuf

Old-School Daguerrotypes Capture Urban Sprawl of the 1800s | Cross River Real Estate

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firstda.jpgImage via The Atlantic Cities

No, that’s not an Instagram of rural Connecticut, it’s a look at a “busy street” in the Paris of 1838, and also the first print produced by Daguerreotype creator Louis-Jacques-Mandé Daguerre. The Atlantic Cities recently dug up this and a few more Dagerreotypes—prints produced via complicated methods and bulky, expensive machinery once lauded for being the first “practicable” photographic process—of 19th-century cities. The images show off urban sprawl from before Chanel and Michael Kors lined the boulevards and starchitect-designed towers stood shoulder to steel-boned shoulder in the most congested bits of town. Below, Philadelphia in 1843 and Washington, D.C., in 1846.

Rising Rates Flatten Consumer Price Expectations | Katonah Real Estate

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After rising since the beginning of the year, consumers’ outlook for home price increases plateaued in August – which has been trending upward- has hit a plateau, likely due to concerns regarding the potential tapering of the Federal Reserve’s asset purchases, according to Fannie Mae’s August 2013 National Housing Survey.

“The spike in mortgage rates associated with the possibility that the Fed will begin to wind down its asset purchase program later this month has dampened the improving trend in consumer sentiment regarding housing witnessed in our survey since the start of this year,” said Doug Duncan, senior vice president and chief economist at Fannie Mae. “The pause in positive momentum is consistent with slowing trends in home purchase contract signings and mortgage applications. Interest rate volatility will likely remain elevated, even after we have more clarity on the pace of the Fed’s tapering, due to concerns over the upcoming budget and debt ceiling debates as well as the crisis in Syria.”

Survey data show that consumers expect home prices to continue to grow on average during the next 12 months, but at a slightly reduced pace of 3.4 percent. Additionally, the share who say it is a good time to buy a home has stayed relatively flat during the past year while those who say it is a good time to sell a home has lost momentum recently.

SURVEY HIGHLIGHTS

Homeownership and Renting

  • At 3.4 percent, the average 12-month home price change expectation decreased 0.5 percent from last month’s high.
  • The share of people who say home prices will go up in the next 12 months rose 2 percentage points to 55 percent, while those who say home prices will go down increased slightly from July’s survey low to 7 percent.
  • The share of respondents who say mortgage rates will go up in the next 12 months decreased 2 percentage points from last month’s survey high to 60 percent.
  • The share who say it is a good time to buy a house decreased 3 percentage points to 71 percent, and those who say it is a good time to sell a house fell 4 percentage points to 36 percent.
  • The average 12-month rental price change expectation fell to 4.1 percent, a slight decrease from last month.
  • Fifty-three percent of those surveyed say home rental prices will go up in the next 12 months, a slight decrease from July.
  • Forty-six percent of respondents think it would be easy for them to get a home mortgage today, a slight increase from last month.
  • The share of respondents who said they would buy if they were going to move increased slightly to 65 percent.

The Economy and Household Finances

  • At 37 percent, the share of respondents who say the economy is on the right track decreased 3 percentage points from July.

 

 

http://www.realestateeconomywatch.com/2013/09/

As Mortgage Applications Fall, Lower Loan Limits Loom | Cross River Real Estate

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Rising rates continue to have an impact on home purchase applications. The number of mortgage applications filed last by 13.5% from the prior week on a seasonally adjusted basis as interest rates increased, the Mortgage Bankers Association said Wednesday.

The purchase component eased 2.7% this week relative to last and has fallen 16.8% since the first week in May on a seasonally adjusted basis. Rates reversed course last week and turned upward after easing in the prior week. The average rate for a 30-year fixed rate mortgage was 4.57% last week according to Freddie Mac.

On an unadjusted basis, MBA reported the market composite index declined 23%. The refinance index slipped 28% from a week earlier, while the seasonally adjusted purchase index slid 2.7%.

The sudden drop in purchase applications comes as loans for new homes have taken market share away from refinancing since January, raising its market share from 27% to 53% in July.

While the average rate has been on the rise, the National Association of Realtors reported that the Federal Housing Finance Agency is considering reducing the limits on mortgages that can be backed by Fannie Mae and Freddie Mac. Currently, the GSEs can support loans up to $417,000 in most markets and up to $625,500 in higher cost markets, while loans above this are supported by the private “jumbo” market made up of banks and private MBS securitizers.

Rates on jumbo loans have eased to party or slightly better than conforming loans in recent months as banks have started taking more loans into portfolio to compensate for weak commercial and refinance business. However, these loans are very high quality with large down payments and high FICO scores. The concern then is that if the loan limits decline, the private sector may still not be ready to pick up the non-pristine lending activity in the high cost portion of the market, cutting off access to credit for this portion of the market, resulting in reduced demand and sales.

 

 

http://www.realestateeconomywatch.com/2013/09/