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Making the White House a ‘Home’ | Armonk NY Realtor
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Armonk Realtor | Housing starts increase by 15%
The U.S. Census Bureau and the Department of Housing and Urban Development reports privately owned housing starts increased 15% since August from an annual rate of 758,000 to 872,000 homes.
That is 34.8% above last year’s rate of 647,000. The single-family housing starts in September climbed 11% at a rate of 603,000 from August where it was at 543,000. The September rate for units in buildings with five units or more was 206,000.
Authorized building permits for privately owned housing grew 11.6% in September at annual rate of 894,000 from August’s annual rate of 801,000, and is a 45.1% increase from last year.
Single-family authorizations in September grew 6.7% in September at a rate of 545,000 from August’s rate of 511,000. Authorizations of units in building with five or more were at a rate of 323,00 in September.
The 15% increase in housing starts is a great thing, because this means that the household formation rates have grown. In 2011, they doubled for a positive housing demand, which means consumers are purchasing more property rather than renting.
Existing home and new home sales are also increasing at a 10% year-over-year rate, which mean demand is significantly higher, and mortgage rates are at an all time low. Since consumers are purchasing properties more now, the existing home inventory is down 20% year-over-year and at six months supply, which is back to normal for a good, healthy market.
Specifically, new home construction will make a fill comeback once the job market rebounds. With these current trends that we are seeing now, analysts expect a slow, but positive improvement in both markets.
via housingwire.com
High Prices Still Lock Middle Class out of Top Cities | Armonk NY Real Estate
A median-income household can only afford a median-priced home in 14 of the 25 largest metropolitan areas in the U.S., according to research released today by Interest.com, a Bankrate company. Detroit, Atlanta and Minneapolis are the most affordable metropolitan areas and San Diego, New York and San Francisco are the least affordable.
A median-income household can only afford a median-priced home in 14 of the 25 largest metropolitan areas in the U.S., according to research released today by Interest.com. Detroit, Atlanta and Minneapolis are the most affordable metropolitan areas and San Diego, New York and San Francisco are the least affordable.
“Despite all of the talk about how homes are more affordable than they have been in decades, buying a home is still a big challenge for many American households,” said Mike Sante, managing editor of Interest.com. “Dealing with rising expenses and stagnant wages is a struggle. Even after years of declining home prices and record-low mortgage rates, median-income households are unable to afford a median-priced home in nearly half of the metropolitan areas that we looked at.”
Most Affordable Metropolitan Areas*
1. Detroit (+45.32%)
2. Atlanta (+40.00%)
3. Minneapolis (+32.20%)
4. Phoenix (+23.67%)
5. St. Louis (+23.49%)
Least Affordable Metropolitan Areas*
21. Los Angeles (-12.52%)
22. Miami (-12.59%)
23. San Diego (-25.90%)
24. New York (-29.71%)
25. San Francisco (-32.76%)
*Percentage reflects how much the median household income in a metropolitan area exceeds or falls short of the income required to purchase a median-priced home in that area
To determine each rating, Interest.com gathered the median home prices in the 25 largest U.S. metropolitan areas and calculated how much financing would be required for a buyer with a 20% down payment. They entered that amount and city-specific data on 30-year fixed-rate mortgage rates, median household income, median property taxes, average homeowners insurance costs and average household debt into the “Required Income Calculator” on Interest.com. Finally, they divided the median household income for each city by the income required to finance the median-priced home.
Median Home Price Source: National Association of Realtors, Q2 2012 study of existing single-family homes [Note: Pittsburgh was not included in that study, so September 2012 data from Real STATS was substituted]
30-Year Fixed-Rate Mortgage Rate Source: Bankrate.com, weekly national survey from September 19, 2012 [Note: City-specific data was not available for Portland (Ore.), Sacramento and San Antonio, so the national average was used for those three cities]
Median Household Income Source: U. S. Census Bureau, 2011 American Community Survey, median household incomes by Metropolitan Statistical Area
Median Property Taxes Source: U. S. Census Bureau, 2011 American Community Survey, median real estate taxes by Metropolitan Statistical Area
Average Homeowners Insurance Source: National Association of Insurance Commissioners, 2009 average premiums by state [Note: average 2009 premiums for Texas cities were obtained from the Texas Department of Insurance]
Average Household Debt Source: Experian’s 2012 State of Credit Study [Notes: did not include mortgage debt; Interest.com calculated monthly debt payments using an 8% interest rate amortized over 60 months]
Inventories Have Fallen for 27 Months | Armonk NY Realtor
Month-to-month inventories have now fallen for 27 consecutive months, according to the monthly RE/MAX National Housing Report. Inventory was 29.1 percent below September 2011 and may have contributed to the drop in sales from August.
The inventory of homes-for-sale in September fell 5.3 percent from August and 29.1 percdent from inventory levels seen in September 2011. Month-to-month inventories have now fallen for 27 consecutive months. While a shrinking inventory is certainly causing home prices to rise, there’s also a concern that it may also be limiting sales. Given the rate of sales in September, the average Months Supply was 5.5, about two months lower than the 7.7 average seen in September 2011. Very low Months Supply continues to be seen in San Francisco, CA 1.3, Los Angeles, CA 1.7, Orlando, FL 2.6, Denver, CO 2.6, Washington, DC 2.8, Detroit, MI 3.0, San Diego, CA 3.2, Seattle, WA 3.2 and Miami, FL 3.3.
In September, the average Days on Market for sold homes was 81. This is unchanged from August, but represents a drop of 13 days from the 94 day average in September 2011. September represents the fourth month in the last 12 months with a Days on Market average below 90, and the lowest average since June 2010. The Days on Market average continues to fall in many markets due to very low inventory. Days on Market is the number of days between first being listed in an MLS and when a sales contract is signed.
While shrinking inventories are is certainly causing home prices to rise, there’s also a concern that it may also be limiting sales and creating bidding wars in some markets, RE/MAX said. September home sales fell 17.5 percent from August, but remained 0.5 percent higher than sales in September 2011. September is the fifteenth consecutive month with sales higher than the same month in the previous year. Of the 52 metro areas surveyed this month, only 29 saw higher sales than one year ago and just 6 saw double digit increases including: Albuquerque, NM +40.9 percent, Chicago, IL +24.1 percent, Raleigh-Durham, NC +22.1 percent, Providence, RI +22.1 percent, Nashville, TN +21.0 percent and Denver, CO +11.4 percent .
New York, NY Housing Data for Builders and Housing Market Intelligence | Armonk NY Real Estate
When I Look at All These YouTube Original Channels, I See Ad Revenue | Armonk NY Homes
via reelseo.com
List Prices in Heartland Markets Turn Negative | Armonk NY Homes
Inventories remained at historic lows in September, down 17.77 percent compared to a year ago and the median list price was marginally higher, but a growing number of older industrialized areas are showing signs of weakness and the gains observed earlier in the 2012 home buying season in many markets appear to be moderating.
The number of markets experiencing year-over-year list price declines in Realtor.com’s Real Estate Trend Data has increased in recent months, underscoring the continued fragility of many housing markets. List prices increased in 77 markets, held steady in 29 markets, and declined in 40 markets. Last month, only 31 markets were down on a year-over-year basis. “A growing number of older industrialized areas in the mid-west and the northeast are showing signs of weakness as a weak economy continues to take its toll,” said Realtor.com’s September commentary.
Some 17 of the declining markets are more than 4 percent below last year price levels and only two, Pekin-Peoria, IL and Charleston, WV trail September 2011 price levels by more than 10 percent. A modest improvement across the board could move prices in a quarter of the nation’s markets from the red to the black.
However, in several significant ways the fragile markets differ from the Western and Florida markets that were hit the most by foreclosures but are leading the price recovery. On the whole, the weak markets, especially the weakest, did not experience price increases during the 2002-2006 boom. Second, with a few exceptions like Naples, Myrtle Beach and Fort Pierce, did not see large foreclosure default rates during the height of the foreclosure era and did not suffer peak-to-trough declines exceeding 50 percent. But many today are seeing pockets of problems.
Some of the biggest declines were in urban markets like Fort Wayne, IN (-6.33 percent), Trenton, NJ (-5.73%), Chicago, IL (-5.02 percent), Philadelphia, PA (-4.81 percent), Newark, NJ (-5.76 percent), and Wilmington-Newark, DE (-4.71 percent). In addition to their size, and Midwest-Northeast locations, these markets share large inventories of foreclosures that have a depressing effect on home values. They are in judicial states where foreclosure inventories remain sizable due to the slower processing of foreclosures. In an August latest ranking of foreclosure inventories by state, New Jersey ranks second highest in the nation, Illinois is fourth, Indiana is 13th, Pennsylvania is 14th and Delaware, 16th. The presence of Florida markets among price losing markets might reflect that fact that Florida leads the nation in foreclosure inventory with 11 percent of its mortgaged homes in foreclosure.
Finally, many of the markets simply cannot muster the demand to bring down inventory levels due to lingering unemployment. August unemployment rates in Chicago (8.8%), Philadelphia (8.8 percent), Newark (9.4 percent) and Trenton (8.8 percent). All were higher than the national unemployment rate of 8.1 percent in August.
“These patterns suggest that the underlying nature of the country’s housing problems has changed. What began as a collapse of a housing bubble fueled by poor underwriting and toxic mortgage products has evolved into a housing recession that primarily reflects continued weaknesses in local economies,” said Realtor.com.
Nationally, however, the median price rose from $190,000 in August to $191,500 in September, and was slightly above (.78 percent) the median list price observed one year ago. While list prices remain well below their peak of $249,900 in early 2007 when Realtor.com began tracking these data the fact that list prices have held their own through most of the 2012 home buying season is seen as a positive sign that the overall market has begun to stabilize.
The national for-sale inventory in September continued to decline down 2.19 percent from August and down 17.77 percent on an annual basis. The large year-over-year decline in inventory is a positive sign that the overall market is in a stronger position compared to a year ago. While the total inventory has risen somewhat since the beginning of 2012, it has averaged about 1.8 to 1.9 million units in every month, the lowest levels since January 2007.
Head of CEO group urges compromise on U.S. fiscal cliff | Armonk Realtor
via reuters.com
Facebook Permissions: What Marketers Need to Know | Armonk Homes
A Blog is Really Like a Movie… | Armonk NY Realtor
“What is a blog really like?” was the question asked.
And the answer that satisfied the audience was “A blog is really like a Movie…”
I was addressing a group of non-bloggers and I found it hard to explain what blogging really is. Suprisingly, the answer which satisfied them was one in which I explained how a blog is really like a movie… The reality is that there are several people in the world who don’t know what a blog is and why anyone in the world would spend their time and money in blogging.
And to such an audience, the most effective and satisfactory response was this “Every blog that you publish is really like a Movie…”.. ..And in this blog post, I’ve tried to make my point on the co-relation between the Movie World and the Blogging World….
I am neither a Movie buff nor do I understand the nitty gritties of movie-making.. But I do have a high level understanding of movie making and of course, an in-depth understanding of creating a successful blog…
There are really 3 broad phases in making a movie / blog
Phase 1 – The Ideation Phase : In which you have an idea for your movie / blog
Phase 2 – The Creation Phase : In which you give form to your idea to create the end product (movie / blog)
Phase 3 – The Promotion Phase : In which you market your creation (movie / blog) to an audience
And then of course, is the Feedback phase in which the audience verdict is OUT – Good, Bad or Ugly!Phase 1 – The Ideation Phase
This is probably the most critical phase in the journey of making a movie or a blog. Simply because you need to have an idea for your blog – In terms of the topics of focus for your blog and specifically in terms of the topic for every single blog post of yours! And if you get this RIGHT, your chances of success increase manifold!Phase 2 – The Creation Phase
For easy of communication and comprehension, refer the comparison below:In the Movie World In the Blogging WorldDirector Blogger – In terms of making the idea come to life and ensuring that everything needed from the creative or technical side is taken care of Producer Blogger – In terms of the investments he / she does to create and maintain the blog (both the design elements and the content) Story This really translates to how the blogger is able to articulate his / her idea into words and the power of the message in the blog! Actors (Hero / Heroine) The words. Yes! The words you write on your blog are your final actors. You can make them perform the way you want based on your choice of words, your literary elegance and your presentation style Editor Again, the blogger itself if he /she does the editorial work or someone else you hire for your editorial efforts Special Effects This can be through pictures, music, podcasts, video blogs, infographics, etc. – You can choose your special effects based on your individual creativity, preference and context.The point to note is that there are several options available and you can decide based on the kind of investments you are willing to make (time and money), your target audience, your objective for the blog and the impact you want to create! Guest Performances Don’t we all like the appearance of a guest actor / star in a movie? Be it for a special song or just to make a point! Sure we do because it’s just so refreshing. So it is with guest blogs.As a blogger, you allow other guest bloggers to write for your blog to bring in diverse points-of-view to your audience. Also, not to mention the actual effort of creating the content (which becomes a challenge after a while) is the responsibility of the guest bloggerAlso, as a blogger you probably also write guest posts for other blogs because your able to enhance your brand and reach a wider audience with minimum time and efforts (as someone else is finally responsible and accountable) for the end product
Phase 3 – The Promotion Phase
This is probably the most important phase as it determines the results that your efforts yield. Firstly, you need to be clear about who your target audience is. And then you need to define and execute a well-integrated marketing plan to promote your blogs. So for e.g: You need to send an e-mail about your blog or share it on FaceBook or ask some celebrity (online / offline) to share your blogs on Twitter, etc etc. While there are many channels, what’s impoartant is to decide on the key (say 3) channels you will leverage for your promotional activities…