Tag Archives: Mount Kisco Real Estate

Survey says: Hispanic investors face housing challenges | Mt Kisco Real Estate

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Despite financial confidence and an overall optimistic outlook, debt remains a top concern for many Hispanic investors, according to a recent survey.

Twenty-five percent of Hispanics surveyed are more concern about losing their home, compared to 12% for the overall population, Wells Fargo ($41.25 0%) said in its latest survey.

While Hispanic investors appear to be taking steps towards saving, there is still anxiety about having enough for retirement.

“Hispanic investors are facing tremendous challenges when it comes to saving for retirement. We are seeing immediate financial concerns like covering household bills and mortgage payments are interfering with their ability to put money away toward retirement,” said David Roda, regional chief investment officer for Wells Fargo Private Bank.

He added, “These are complex challenges where one size doesn’t fit all in terms of a possible course of actions, but we would certainly encourage all investors to double down on their planning efforts, and really seek guidance from an advisor to ensure they are on track to meet their financial goals.”

Living in multi-generational households may also have a significant impact on Hispanic investors’ savings, as a number of respondents are caring for their own children, as well as parents or grandparents, the survey noted.

Nearly one in five, 18%, of Hispanic investors report currently living in a three-generation household and 27% expect to do so within the next decade.

 

Survey says: Hispanic investors face housing challenges | HousingWire.

Fannie, Freddie and FHA shrinking REO inventories | Mount Kisco Real Estate

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Fannie Mae, Freddie Mac and FHA had 189,529 homes in their real estate owned (REO) inventories at the end of March — a 9 percent drop from a year ago and a decline of nearly 36 percent from the 2010 peak,  financial blogger Bill McBride reports.

Other institutions — portfolio lenders and loan servicers who collect payments on “private-label” mortgage-backed securities (MBS) — also have stockpiles of REOs, but those inventories are declining, too, McBride says. Source: calculatedriskblog.com.

 

 

 

Fannie, Freddie and FHA shrinking REO inventories | Inman News.

As Home Prices Rise, Consumer ‘Wealth Effect’ May Be Smaller | Mt Kisco Real Estate

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The “wealth effect” is a term coined by economists to describe consumers’ tendency to spend more when their wealth has increased. It spurred the U.S. economy forward for decades as the market value of homes rose. It was easy for Americans to take out new mortgages and pocket the proceeds for trips to the mall or a second car. The equity extracted through these mortgages, known as cash-out refinancings, rose from $26 billion in 2000 to $321 billion in 2006. Home-equity loans, which do not require a new mortgage, also fueled the frenzy. Economists figured that every dollar increase in housing wealth produced an extra 3¢ to 5¢ in spending.
Home prices are rising again, but the wealth effect “is much smaller,” says Amir Sufi, a professor of finance at the University of Chicago Booth School of Business. Sufi reckons that each dollar gain in housing wealth today may yield as little as 1¢ in extra spending. U.S. Department of Commerce data show that consumer spending has grown at a 2.1 percent annual rate since the recession’s end, down from a 3.2 percent average for the 20 years before the slump.
Consumers now see their homes less as a piggy bank to be tapped and more as a nest egg to be secured. More homeowners are paying down the principal and shortening the maturities of mortgages. Cash-in refinancings, in which borrowers invest more of their own money in the house, outnumbered cash-outs by more than 2 to 1 in the fourth quarter, according to Freddie Mac (FMCC).

 

 

As Home Prices Rise, Consumer ‘Wealth Effect’ May Be Smaller | Mt Kisco Real Estate | Bedford NY Real Estate | Robert Paul Talks Life in Bedford NY.

Just Open: The Rose Room in Mount Kisco | Mt Kisco Real Estate

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The latest addition to the Mount Kisco dining scene: The Rose Room, an upscale Italian restaurant with plush fabric on the walls, a waist-high gas fireplace and a groovy purple-and-white color scheme.

The restaurant is owned by Michael Lubic, who also owns Traditions 118 Restaurant in Granite Springs with his mother, Lisa Lubic, and it’s named after his maternal grandmother, Rose. Just down the street is Eduardo’s, an Italian restaurant on South Moger Avenue that’s also in the family and is named after Lubic’s maternal grandfather.

On the menu are twists on familiar Italian-American classics, like Calamari “118” Style, named after the special preparation served at Traditions 118.

via northernwestchester.lohudblogs.com

Auction.com launches research division | Mt Kisco Real Estate

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Online real estate marketplace, Auction.com, is expanding its brand by launching Auction.com Research, a new division providing continuous data and analysis throughout various real estate sectors.

Auction.com Research will gather experienced economists and industry researchers, who have built solid track records of accurate research and forecasts, to create a broad range of information.

“We all benefit from a healthy real estate marketplace,” said Monte Koch, Auction.com co-CEO. “Making Auction.com Research’s findings publicly accessible will facilitate smart growth and sound business practices that support ongoing market recovery.”

Led by Peter Muoio, founder of the research and consulting firm Maximus Advisors, the division will release regular reports and forecasts related to single- and multi-family housing, retail, office, hospitality and industrial real estate.

The first report released by Auction.com Research, a single-family market report, can be found here.

via housingwire.com