Tag Archives: Pound Ridge Homes for Sale

Average 30-Yr Mortgage Rate Slips To 4.32% | Pound Ridge Real Estate

 

Mortgage rates fell a bit last week, with the average 30-year fixed-rate mortgage rate slipping to 4.32% in the week ended today from 4.37% a week ago, according to Freddie Mac’s (FMCC) latest weekly Primary Mortgage Market Survey. A year ago that rate averaged 3.54%. The average 15-year fixed-rate mortgage rate also slipped, to 3.32% from 3.38% a week earlier and 2.72% a year ago.

A similar 30-year mortgage rate measured by the Mortgage Bankers Association’s latest weekly survey slipped to 4.50% from 4.52% a week earlier. The average rate for so-called jumbo loans of more than $417,000 fell to 4.39% from 4.41%. That survey also showed mortgage applications decreased by 1.2% in the latest week.

 

http://blogs.barrons.com/incomeinvesting/2014/03/20/average-30-yr-mortgage-rate-slips-to-4-32-freddie-mac/?mod=yahoobarrons&ru=yahoo

Homebuyers eager for spring real estate price thaw | Pound Ridge Real Estate

 

Consumers planning to jump into the real estate market this spring will need to reassess pricing, whether they are looking to buy or sell.

The spring real estate market has been off to a slow start, but experts foresee plenty of pent-up demand that could heat up the market as warmer weather arrives. Earlier this month, a report from Zillow.com found that 10 percent of U.S. renters say they would like to buy a home within the next year.

In February, asking prices were 10.4 percent higher than a year earlier, according to Trulia.com. Even without a bidding war in play, buyers have less leverage to negotiate lower prices. That, combined with stricter borrowing limits from lenders, could mean buyers have a smaller budget than anticipated, said Michael Corbett, a real estate expert with Trulia.com. Before starting a house hunt, secure pre-approval from a lender. “Otherwise, you’ll end up looking at houses that aren’t in your price range, and putting in offers that won’t fly with the bank,” said Corbett, author of “Before You Buy.”

 

http://www.cnbc.com/id/101503932?__source=yahoo%7Cfinance%7Cheadline%7Cheadline%7Cstory&par=yahoo&doc=101503932%7CHomebuyers%20eager%20for%20spri

We all face challenges in our personal lives. How to keep your real estate business on track. | Pound Ridge Homes

 

Sooner or later, everyone faces challenges in their personal life that can have a detrimental influence of their business. Whether it’s a serious illness, death of a loved one, divorce or some other life trauma, what can you do to cope when your personal life is falling apart? As a real estate professional, you’re expected to be the calm in the storm. When transactions start to fall apart, you’re the glue that holds the deal together. When the seller is screaming and the buyer is threatening to sue, you’re the one who is supposed to calm the explosive situation.

Even on the best days, this is a tall order. It is particularly difficult when you are dealing with your own issues outside of your business. Making matters worse, the law of attraction says, “Like attracts like.” In other words, if you’re going through a messy divorce or have a loved one facing a serious illness, the probability is high that you will attract clients who are facing the same issues you are facing. If you have a personal situation that is pulling you off focus, here are six steps that can help you weather the storm.

1. Completely describe the challenge you’re facing in writing A difficult situation is like a continuous loop that keeps going around and around in your head. Your conscious mind keeps coming back to it because your unconscious mind is struggling with pain, grief, guilt or a variety of other issues. A proven way to cope with this situation is to record as many details about the situation as possible. This strategy allows you to break the ceaseless pattern of self-talk. –

 

See more at: http://www.inman.com/2014/03/17/6-steps-to-keep-your-real-estate-business-running-smoothly-through-illness-divorce-or-other-life-trauma/?utm_source=20140317&utm_medium=email&utm_campaign=dailyheadlinesam#sthash.GSk7yeMx.dpuf

Facebook Launches Video Ads TODAY! | Pound Ridge Real Estate

 

O frabjous day! Callooh! Callay! The Jabberwock is, er, Facebook video ads are  here! Our news feeds will now be inundated with autoplay video ads. Yippee?  Well, it’s a big step forward for the world’s largest social network to say the  least. They’ve been working on video ads for what seems like years and now we  can all get them in news feeds. Don’t go overreacting (I’m just joking around)  there will be no more than three ads per day.

In terms of frequency, that is 90 ads per month per viewer. If there  are 600 million users and say 50% are in markets where the ads debut it comes  out to a massive 27 billion video ads a month. Ker-Pow! At the low  end of the price spectrum rumors of $1-2.5M per ad, that’s $27 billion in  revenue, per month, on the low end.

All That is Wrong with Video Ads – Auto-Play and Muted – But Wait!

I swear Facebook looked at the video advertising industry  as a whole and took the worst practices they could find to make their video ad  strategy. Get this, the videos will auto-play and the sound will be muted until  a user interacts with the ad. Next I think they will introduce video ads in the  side bar that play all the way through without ever showing up in the browser  viewable area.

Alright, maybe not. At least the video ads won’t take over your entire screen  as they won’t go full screen unless they are clicked or tapped. The videos will  only start to play when they show on screen, not when off screen as I just said  in jest. If you don’t like the video, just go past it and it will disappear. At  least they’re not keeping them on screen through the duration of the video  forcing us to watch.

Ace Metrix has been tapped to determine if a video ad is crap or not. If they  deem it worthy, as in, will people like it, then it will make it into the system  for display to users. If you don’t know Ace Metrix, they are the group that  rates success and perception of Super Bowl ads and pretty much every other TV ad  that airs. In other words, they know what they’re talking about.

Source:  Facebook Launches Video Ads TODAY! http://www.reelseo.com/facebook-video-ads-today/#ixzz2vwzzgPEH ©ReelSEO.com, All Rights Reserved Follow us: @ReelSEO on Twitter | ReelSEO on Facebook

Why credit is continuing to ease up in the mortgage market | Pound Ridge Real Estate

 

 

Is credit beginning to thaw?

Average FICO scores are finally starting to fall. After plateauing at 750 for most of late summer and fall, average FICO scores for approved loans have fallen to 724, which is approaching normalcy. During the bubble years, credit was very lax, and average FICO scores were around 720 for 2006, 2006, and 2007. After the bubble burst, credit became very tight, and average FICOs increased to 757. Now that the refinance market is drying up and lenders are taking more risk in order to drive business.

The Consumer Financial Protection Bureau had hoped that the new Qualified Mortgage (or QM) rule would have eased credit conditions somewhat. The QM rule sets standards for new mortgages that codify the “ability to repay” rules. Exotic mortgages—like negative-amortizing (pick-a-pay) loans or high-cost loans—are ineligible for qualified mortgages. The CFPB has set a debt-to-income ceiling of 43%. FICO scores aren’t part of the equation. In return, borrowers are unable to sue a lender if they end up defaulting. Credit is becoming easier to get. But the question is whether that’s due to home price appreciation or due to the QM rule.

 

http://finance.yahoo.com/news/why-credit-continuing-ease-mortgage-171607986.html

Get a Perfectly Built Home the First Time Around | Pound Ridge Homes

 

There’s a myth going around to the effect that you’ll never get your house built just right.  There will always be something you forgot, something you’d do differently, something that’s just not quite right.  I’ve heard folks tell me time and again that that’s just the way it is.  There’s just no getting around the simple fact that the house you build just won’t be 100 percent right.
Well, I have to say that this is simply not true.  There are steps anyone can take that will ensure that a house will be perfect, with no regrets.  Here are some of them.

Know thyself.  Who are you?  What do you like?  What do you hate?  What is your ideal living arrangement?  What is your favorite season?
What do you enjoy doing?
These are some of the many questions you’ll have to answer to create the perfect home.  You see, we simply don’t live in a space bounded by four walls, a ceiling and a floor.  While we all share a lot of common traits, each of us is unique.  So yes, start with a room count and a square footage and a style, but then take that to the next level by tailoring the plan to you and yours.

When Should You Begin to Aggressively Pay Down Your Mortgage? | Pound Ridge NY Homes

 

The clear advantages of paying off your mortgage as quickly as possible have changed quite a bit over the past few years. The urgency to pay it off has somewhat diminished, as interest rates have plummeted to historical lows. It’s no longer the black and white decision it was back when interest rates hovered between 6% and 9%, and even the 11% to 13% we saw a couple of decades ago.

I am a big proponent of paying down that ugly mortgage beast as soon as is practical. But, before you go cutting a check to the bank, there is a pecking order of financial priorities you need to address before you consider tackling your mortgage.

In order of importance, here are the places you need to put your financial attention first:

  • Take The Cards Off The Table: Pay off all credit cards with high interest rates. Consider the huge discrepancy between credit cards with interest rates of 13% – 23%, and a 4% mortgage interest rate.
  • In Case Of Emergency: You need to build an emergency fund, ideally 8-12 months of living expenses. Yes, today’s job market is improving, but if you suddenly find yourself facing a layoff, you need to be prepared to sustain up to one year of living expenses.
  • Build Up For Retirement: Are you able to make the maximum yearly contributions to your retirement accounts, 401K, IRA or an equivalent?  Ask your accountant what the maximum allowable is for you and go for it!
  • Get The Kids To School: Ah yes, the kids and college funds.  Depending on how many children you have, how old they are, and what type of college enrollment expectation they have, you need to be making adequate contributions to those 529 plans or other college savings accounts.
  • You May Live A Long Time: My mom is 97 this year, and my aunt just turned 100.  So I am keenly aware that my money could run out before my health runs down.  Another priority investment you need to be making each year is toward long-term health care insurance. It is not as costly when you start it in your 30’s or 40’s.  But, if you didn’t get around to it till your 50’s, it will take a hit out of your budget each month.

http://www.fool.com/investing/general/2014/03/09/when-should-you-begin-to-aggressively-pay-down-you.aspx

It’s Time to Spring Clean Your Yard | Pound Ridge Real Estate

Sure, you typically focus your spring cleaning on the inside of the house, but getting your yard ready for the new season should also be on your list. Here are several tips to streamline your outdoor spring cleaning.

1. Survey the damage, post-melt.
Once the last of the snow is gone, survey your lawn for any bare areas or dead spots of grass. Heavy traffic and pet messes can keep the grass from growing back. You can help by sprinkling some soil over the area and adding grass and fertilizer. Be sure to keep the dirt moist until the seeds sprout into grass.

2. Tidy up any debris.
As you scan your yard, remove any fallen branches and twigs. If your lawn is covered with leaves, there’s no way around pulling out the rake. Before collecting the leaves, be sure the ground is completely dry — raking over wet grass can tear it from the roots, leaving you with even more bare patches. Don’t send the leaves, branches, and twigs to the garbage, though. Use them to create a compost pile.

3. Clean up your lawn mower.
You may not be mowing the grass for a while, but when the time comes, you’ll want your lawn mower from HouseBait to be in good condition. If you didn’t remove the dirty oil or replace the spark plugs during the fall, now’s the time to swap out the used oil for new oil and replace old spark plugs. Also, lightly lubricate the wheel bearing, height adjuster, and any other moving parts, following the manual’s instructions. Make sure to have the lawn mower blades sharpened by a professional, so they’ll cut the grass evenly.

4. Prepare a plan for pruning.
Once your lawn is in order, pruning shrubbery,tree trimming, and plants should be next on your list. Here’s a simple guide to knowing when to prune your plants to create a healthy-looking garden.

It’s Time to Spring Clean Your Yard | Pound Ridge Real Estate

 

Sure, you typically focus your spring cleaning on the inside of the house, but getting your yard ready for the new season should also be on your list. Here are several tips to streamline your outdoor spring cleaning.

1. Survey the damage, post-melt. Once the last of the snow is gone, survey your lawn for any bare areas or dead spots of grass. Heavy traffic and pet messes can keep the grass from growing back. You can help by sprinkling some soil over the area and adding grass and fertilizer. Be sure to keep the dirt moist until the seeds sprout into grass.

 

2. Tidy up any debris. As you scan your yard, remove any fallen branches and twigs. If your lawn is covered with leaves, there’s no way around pulling out the rake. Before collecting the leaves, be sure the ground is completely dry — raking over wet grass can tear it from the roots, leaving you with even more bare patches. Don’t send the leaves, branches, and twigs to the garbage, though. Use them to create a compost pile.

 

 

http://shine.yahoo.com/at-home/time-spring-clean-yard-165800417.html

Finding the Right Mortgage for You | Pound Ridge Real Estate

 

Finding the right mortgage for your home can be a tricky proposition, but banks and other lenders are offering various options to meet your needs as the housing market rebounds.

Smaller down payments are still an option if you meet the requirements, depending on the lending institution.

While some Millennials are dealing with student loan debt and lack the cash to opt for a traditional 30-year mortgage requiring a 20% down payment, Federal Housing Administration (FHA) loans remain an option.

FHA loans were the dominant choice among many first time home buyers until recently. With a loan from the FHA, buyers have the option to finance 96.5% of a home’s price and put just 3.5% down.

Unlike conventional financing, 100% of the down payment could be a gift, so borrowers are able to secure a loan without putting any of their own money down, said Malcolm Hollensteiner, director of retail lending products and services at TD Bank, a financial institution based in a Cherry Hill, N.J. One advantage is that the underwriting criteria are more flexible than conventional mortgage loans.

While those factors are appealing to many borrowers, the FHA has increased its mortgage insurance costs which makes this type of loan more expensive for the buyer and has led to the number of first time buyers who obtained FHA loans to drop dramatically.

While many home buyers are still seeking the FHA loan, it is not as popular since the monthly mortgage insurance rates have risen, said Sin-Yi Lamberston, real estate and mortgage broker at ERA Yes! in Glendora, Calif. However, FHA loans allow consumers to borrow more with a lower credit score.

 

http://www.mainstreet.com/article/real-estate/finding-right-mortgage-you?puc=yahoo&cm_ven=YAHOO