Tag Archives: Bedford Corners NY Real Estate for sale

NAR joins push for FAA rule on commercial drone use | Bedford Corners Real Estate

 

Saying regulators are stifling innovation, the National Association of Realtors and nearly three dozen other groups have sent a letter to the Federal Aviation Administration urging the agency to speed up its process for issuing rules that will govern the commercial use of drones.

The groups, which also include NAR affiliate Realtors Land Institute, also urged the FAA to allow limited use of small drones for commercial purposes right away, before a final rule is complete.

“The current regulatory void has left American entrepreneurs and others either sitting on the sidelines or operating in the absence of appropriate safety guidelines,” the letter said. “The technology is advancing faster than the regulations to govern it.”

Drones have gained popularity in real estate in the past year, but the legalities around their use in commercial situations are far from clear.

NAR and other groups claim that the drone industry will create an estimated 100,000-plus jobs and $82 billion in economic impact during the first decade it is integrated into the FAA’s regulatory framework, giving commercial users boundaries in which to work.

“But with each passing day that commercial integration is delayed, the United States continues to fall behind,” they said.

– See more at: http://www.inman.com/2014/04/08/nar-joins-push-for-faa-rule-on-commercial-drone-use/?utm_source=20140409&utm_medium=email&utm_campaign=dailyheadlinesam#sthash.W0msKpJO.dpuf

Let’s Bust 3 Common Home Buying Myths | Bedford Corners Homes

 

If you are a first-time home buyer, friends and family members may be quick to give advice about the home-purchasing process. As a result, there could be several home buying myths that may have found refuge in the back of your mind. Unfortunately, that friendly advice can help perpetuate some of the most common home-buying myths — especially when it comes to credit.

Home-buying credit myths

Myth #1: You need perfect credit to purchase a home. Fact: It is true that an individual’s credit score has an impact on the mortgage loan approval process and ultimately the resulting interest rate. However, perfect credit is not needed to secure approval for a mortgage loan. While credit scores can range widely, the higher your credit score, the more options you will have to find a mortgage with favorable interest rates.

Myth #2: Lenders have free rein in sharing your personal credit information. Fact: Not so. For a lender to share your information with an affiliate (any entity that is involved in making, holding or investing in bank loans or credit extensions), generally you must first give your permission. State and federal privacy laws are in place to help protect your personal information.

Myth #3: Lenders only use one scoring model that determines creditworthiness. Fact: There are a number of credit-scoring models used to determine credit risk in today’s marketplace. For example, many lenders use the VantageScore® as one model for determining credit worthiness. While scoring models vary, many of the same factors influence your credit score, including your payment history and your level of debt.

Get Pre-approved

Before you start hunting for a house, determine what you can comfortably afford to pay each month. Even if you are pre-approved for a mortgage, you may want to consider if the mortgage is affordable. Preapproval allows you to determine how much home you can shop for and afford. It may also give you an advantage when it comes time to negotiate your home mortgage. Understanding the factors that are important to a mortgage lender can improve your chances of finding your dream home.

 

https://homes.yahoo.com/news/let-bust-3-common-home-buying-myths-145521344.html

 

Foreclosures slow but nearly 2M homes in serious delinquency | Bedford Corners Homes

 

CoreLogic’s (CLGX) new national foreclosure report shows there were 43,000 completed foreclosures in the United States in February 2014, down from 51,000 in February 2013, a year-over-year decrease of 15%.

On a month-over-month basis, completed foreclosures decreased 13.1% from 50,000 in January 2014.

In all of 2013, CoreLogic’s numbers shows that 4 million homes returned to positive equity, bringing the total number of mortgaged homes with equity to 42.7 million at the start of 2014.

Nearly 6.5 million homes, or 13.3% of all residential properties with a mortgage, were still in negative equity at the end of 2013.

“Although there is good news that completed foreclosures are trending lower, the bigger news is the impressive decline in the foreclosure and shadow inventories,” said Mark Fleming, chief economist for CoreLogic. “Every state has had double-digit, year-over-year declines in foreclosure inventory, which is reflected in the $70 billion decline in the shadow inventory.”

Completed foreclosures are an indication of the total number of homes actually lost to foreclosure.

Since September 2008, there have been approximately 4.9 million completed foreclosures across the country.

 

 

 

http://www.housingwire.com/articles/29549-foreclosures-slow-but-nearly-2m-homes-in-serious-delinquency

Case-Shiller sees housing market cooling ever so slightly | Bedford Corners NY Homes

 

There was another sign Tuesday morning that the housing market is cooling  off. Just a bit.

One of the nation’s most closely watched home price indexes inched downward  for the third straight month in January, though prices climbed slightly after  seasonal variations were taken into account.

The Case-Shiller Index saw prices tick down 0.1% across the 20 major cities  it tracks, though they gained 0.8% when seasonally adjusted. Prices are up 13.2%  compared with this time last year, but the quick pace of gains has clearly  slowed.

“The housing recovery may have taken a breather due to the cold weather,”  said David Blitzer, chairman of the Index Committee at S&P Dow Jones, which  publishes the index.

In Los Angeles, where weather has been less of an  issue than in the snowy Midwest and Northeast, prices slipped 0.3%, though they  were up on a seasonally adjusted basis and were 18.9% ahead of last year. In San  Diego, prices jumped 0.6%, their best January since 2004.From December to January, prices fell in 12 of the 20 cities Case-Shiller  tracks. Still, Blitzer, like other real estate economists, remains optimistic  that 2014 will be a solid if unspectacular year for the housing market.

“Expectations and recent data point to continued home price gains for 2014,”  he said. “Although most analysts do not expect the same rapid increases we saw  last year, the consensus is for moderating gains.”

http://www.latimes.com/business/money/la-fi-mo-housing-market-cooling-20140325,0,2693996.story#ixzz2wzBsmeOZ

Can You Afford to Buy a House? | Bedford Corners Homes

 

With the help of low interest rates and intervention from policymakers, the housing market has been one of the most improved areas of the economy. However, a combination of higher rates, rising home prices, and stagnant wages is building affordability issues.

The cost of homeownership is on the rise across the nation. The estimated monthly house payment for a median-priced, three bedroom home purchased in the fourth-quarter of 2013 surged 21 percent to $865, compared to $714 from a year earlier, according to the latest report from RealtyTrac. The firm analyzed 325 U.S. counties and included other factors such as insurance, taxes, maintenance, and tax deductions. Among the 15 most populated counties analyzed, the estimated monthly house payment jumped an average of 34 percent from a year ago.

“A potent combination of rapidly rising home prices and the often-overlooked but significant uptick in interest rates in the second half of 2013 caused the monthly cost of owning a home using traditional financing to jump substantially in many markets over the last year,” said Daren Blomquist, vice president at RealtyTrac, in a press release. “The monthly cost of owning a home is still less than renting in the majority of markets, but the cost of financed homeownership is becoming dangerously disconnected with still-stagnant median incomes, driven not by shoddy underwriting practices this time around but by investors and other cash buyers who are not tethered to the typical affordability constraints.”

 

http://wallstcheatsheet.com/politics/economy/can-you-afford-to-buy-a-house.html/?ref=YF

Mortgage Rates around 4.33% this week | Bedford Corners NY Homes

 

Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates up slightly for the second week in a row.

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 4.33 percent with an average 0.7 point for the week ending February 20, 2014, up from last week when it averaged 4.28 percent. A year ago at this time, the 30-year FRM averaged 3.56 percent.
  • 15-year FRM this week averaged 3.35 percent with an average 0.7 point, up from last week when it averaged 3.33 percent. A year ago at this time, the 15-year FRM averaged 2.77 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.08 percent this week with an average 0.5 point, up from last week when it averaged 3.05 percent. A year ago, the 5-year ARM averaged 2.64 percent.
  • 1-year Treasury-indexed ARM averaged 2.57 percent this week with an average 0.3 point, up from last week when it averaged 2.55 percent. At this time last year, the 1-year ARM averaged 2.65 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.

How’s The Real Estate Market? | Bedford Corners NY Homes

 

One of the most (if not the most) asked question of a real estate agent is regarding how the market is doing.  The answer depends largely on the intent behind the question.  If you are simply making conversation, you may get more of an answer than you counted on.

Many people in the real estate industry rely on trends to gauge how the market has been performing.  Since trend data looks at what has happened over time, they may also serve as an indication of where the market may go – but no one knows the outcome for certain, until it has happened.

The picture accompanying this article shows a snapshot of the South County residential sales market during January 2014 in terms of how many homes were sold, how many were in escrow and how many were actively for sale; the total dollar value by community is also shown.  The information included in the snapshot was obtained from our local MLS (Multiple Listing Service) and does not include rental properties, private sales or activities conducted outside the MLS.

We’ve all heard the national and state news address the housing market, but they do little to explain what we’re experiencing in Gilroy, Morgan Hill and San Martin.  In evaluating the real estate market, one must take into consideration not only the community, but also the neighborhood of interest.    For example, the Eagle Ridge real estate market differs from CordeValle housing.  Similarly, Holiday Lake Estates real estate is substantially different than Castlewood Park.

South County real estate sells year round; there’s always a market.  It becomes a seller’s market when there are very few homes available for sale, and a buyer’s market when there is a surplus of homes and very few buyers.  Local statistics document we were predominately in a seller’s market during 2013 and suggest we will continue in that direction until more sellers make the decision to sell.

 

http://www.gilroydispatch.com/blogs/real_estate_round-up/how-s-the-real-estate-market/article_f4945f80-642e-5f25-81fb-9d2f406d024e.html

 

Countess LuAnn Slices $500K from Bridgehampton House Price | Bedford Corners NY Homes

 

280 Highland Terrace Bridgehampton
21 images

Countess LuAnn de Lesseps of The Real Housewives of New York City has lowered the asking price on her Bridgehampton house. She is apparently downsizing now that her kids are older. The price is now $9.45M, which seems fairly reasonable. This is a lovely house set on 2.2 acres, with six bedrooms, 5.5 baths in 6500sf. It’s nicely decorated and the new owners should be able to move right in. The beautiful garden overlooks preserved farm fields. “It feels like Idaho,” de Lesseps told the Wall Street Journal. “There’s a wide open feeling.” · Bridgehampton South Estate with Forever Farm Views [BHS via HREO] · RHONY Star Countess LuAnn Offers Bridgehampton House at $9.999M [CurbedHamptons] · ‘Real Housewife’ Lists Hamptons Home [WSJ]

Top 10 Social Media Marketing Posts: This Year in Social Media | Bedford Corners Real Estate

It’s not always easy to stay up to date with social media.

Here’s what was really hot in 2013.

As you scan these articles, you’ll find great ideas you can put to use today.

Here are 10 of our most popular articles of 2013.

Top 10 Social Media Marketing Articles

#1: New Facebook Marketing Research Shows What Works: The latest research on Facebook marketing shows interesting trends and opportunities. Use this to update your Facebook marketing with the latest findings.

Read more about this research to help you improve your Facebook marketing.

#2: 10 Ways to Use Social Media to Promote an Event: Discover 10 creative ways to use social media to promote your offline and online events.

Read more about these 10 creative ways to use social media to increase your chances for a gangbuster event.

#3: How to Use Hashtags in Your Social Media Marketing: How to use hashtags in your social media marketing to create successful campaigns and maximize your exposure across all social media channels.

Read more to discover how to choose a hashtag that’s memorable and unique.

#4: 4 Ways to Use Social Media to Generate Leads: Here’s how social media for lead generation works and how you can activate your social audiences to generate leads that can affect your bottom line.

Read more on how you can activate your social audiences and generate leads that can affect your bottom line.

#5: How Your Business Can Use the New Facebook Cover Photos: Here are some examples of what you can do with your Facebook cover photo and how to leverage the new rules to boost your business.

Read more to find out how you can feature an engaging and interesting cover photo.

#6: 26 Tips to Create a Strong Social Media Content Strategy: Discover how to strengthen the impact of the content you create and generate the buzz you’re looking for.

http://www.socialmediaexaminer.com/2013-in-social-media/