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Mortgage rates on march to 5 percent | Cross River Real Estate

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Long Treasurys broke upward, out of the trading range of the last eight weeks. Not by much, but out, the 10-year T-note above 2.8 percent for the first time in more than two years — 2.86 percent at this moment.

Mortgages are stickier, the rise negligible (investors have lost fear of another refi wave), but the march toward 5 percent is underway. Two patterns are helpful, one 24 hours old, the other a 60-year vintage. Before discussing those, dismiss a false lead: The 17-nation eurozone enjoyed positive gross domestic product (GDP) in the second quarter, ballyhooed in the U.S. press as an “end to recession.”

A positive quarter is the technical definition of a recession’s end, but not even the Europeans believe this is anything more than a passing moment of stabilization. Yesterday’s trading was instructive. News that should have helped long-term rates did not: Egypt’s descent into civil war; 200 points off the Dow; and zero-gain industrial production in July.

News that overwhelmed all else and pushed up rates: New claims for unemployment insurance last week fell to a six-year low: 320,000. Thursdays’ market calculus is now persistent: Jobs override all. If employment is strengthening, the Federal Reserve will taper quantitative easing to zero within six months.

Thus stocks traded down on good economic news. I have never found a direct conveyor of QE cash to stocks, except running through the vacant minds of stock boosters. Whether real or imaginary, the mind prevails, but it does not say much for the investment-value underpinnings of stocks that good economic news is bad news.

The trading-desk shorthand for unemployment insurance applications is “claims.” Every U.S. recession since the big war has ended in the same pattern: Credit-sensitive housing and autos rebound as soon as the Fed cuts rates.

The job market is the last to recover, often lagging housing by two years.

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http://www.inman.com/2013/08/16/march-toward-5-percent-is-underway/#sthash.ve1hvzwH.dpuf

7 cities threatened by rising seas | Cross River Real Estate

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At least one-fifth of all homes in seven U.S. cities could be submerged in the next 40 years, according to an analysis of new data on climate change due to carbon emissions.

The cities are:

Metairie, La.

Hollywood, Fla.

Huntington Beach, Calif.

Hialeah, Fla.

Stockton, Calif.

New Orleans, La.

St. Petersburg, Fla.

The cities have a 50 percent chance of sea levels rising between 1 and 3 feet by 2020, and a 1 in 6 chance of sea levels rising between 3 and 10 feet by 2050. At least 866,000 residents in 419,000 homes in these cities could be displaced by 2050 from a combination of rising ocean levels, storm surge and tides.

 

Source: 24/7 Wall St.

 

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http://www.inman.com/wire/7-cities-threatened-by-rising-seas/#sthash.6dpdMdoy.dpuf

Richmond Mayor goes the extra mile for eminent domain | Cross River Real Estate

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Richmond, Calif., Mayor Gayle McLaughlin went the extra mile to express her frustrations with Wells Fargo (WF) this week. McLaughlin and more than 40 protesters were turned away from Wells Fargo’s corporate headquarters after demanding to speak with top executives about the city’s use of eminent domain. Per Contra Costa Times:

“For Wells Fargo to be suing us is outrageous,” McLaughlin said after marching down Montgomery Street with dozens of supporters. “We just want them to cooperate with our efforts to save our communities.”

http://markets.housingwire.com/housingwire/quote?Symbol=321:966021
                    Source: Contra Costa Times

How Much Does it Cost to Install Countertops? | Cross River Real Estate

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Whether in the kitchen or bathroom, the countertop can be the star of the room. A countertop should fit both your aesthetic style and your lifestyle. How much you pay for your countertops will depend on the sizes needed, the materials used and the labor involved.
Countertops usually get a lot of use. You don’t want to spend money on something that loses its beauty quickly or chips easily. The more you plan to use your counters, the more durability must be a major concern.  Continue Reading
Laminate Countertops

Laminate provides the best selection of colors and patterns at the lowest prices. Laminate can be used to form a seamless cove backsplash to keep spills from seeping behind the cabinets. They’re also cheap and easy to install. The down sides? Laminate scratches or chips easily. It can be tough to clean, and its colors can fade over time.

Ceramic Tile Countertops

No surface offers more choices than tile. The price you pay for tile will largely depend on where you get them. Go for a big box store and you can go as cheap as $10 per square foot. Contact an artist in Florence, and you could pay $5,000 per tile. Tile can adapt as easily to Mexican fiesta as it can to Tokyo contemporary. There are two downsides of tile. One is that it can expensive to install, depending on the square footage of your counters. The other is grout lines, which attract crumbs and stains and require periodic sealing to repel moisture.

Stone Slab Countertops (Granite, Marble, Quartz, etc)

Not much can add dazzle to your kitchen or bathroom like a stone slab countertop. The sheer beauty, amazing selection and durability of stone makes it an excellent choice for your home. The depth and character of natural stone cannot be matched by any man-made surface (though some made-made alternatives have taken great strides.) Natural stone does not depreciate with time and this stone will consistently add value to your home. The costs of the stone depend on how rare its elements, the size and particularly the length of the necessary cuts, which must be finished, buffed and polished. You can sometimes save big money on stone slabs by shopping through remnants.

Acrylic Countertops

The most popular of the acrylics is Corian by DuPont. Corian provides the color versatility of laminates with a rich look (and price) that rivals stone slabs. It’s easy to maintain. Scratches and nicks can easily be buffed out. If you want to create a seamless look, Corian can even be formed into sinks, so there’s no gap between the counter and the sink. Price is determined largely by square footage.

Other Expenses

You may want to also add a new sink or new faucets to your installation. This can be an additional cost, not only in purchasing the hardware, but the installation as well. If you’re going with a stone slab, you have the additional cost of cutting the hole. You also may need to hire a plumber, especially if you want to install something new like an instant hot water dispenser or side spray.

If you are upgrading and replacing your existing counters, you may have to pay for their removal from not only their current location, but from your home as well. Debris removal is normally not a huge expense, but it’s one you should talk with your contractor about nonetheless.
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Housing supply catches up with demand | Cross River Homes

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Those fearing the housing bubble apocalypse can finally breathe — it looks like home prices may begin to move laterally on a month-over-month basis moving forward.

While the median cost per square foot rose 14.9% year-over-year in July, inventory fell by almost 16% in the same period. Meanwhile, on a monthly basis, the median list price per square foot held steady from June to July, while the number of homes listed for sale increased.

The stagnant list price month-over-month is an indicator that the inventory supply is beginning to catch up with demand, according to the latest report from Movoto Real Estate.

Higher mortgage rates coupled with increased inventory will stunt price appreciation, slowing the quickly rising pace of home prices.

This goes hand-in-hand with the latest CoreLogic (CLGX)Case-Shiller report which states that slowly, as more and more homeowners consider selling their homes to lock in capital gains, the pressure that has been driving prices upward will subside. The report predicted that price appreciation will start to decelerate in 2014.

Currently, the real estate market is mixed, the report suggests. While sellers would be smart to list their homes in order to take advantage of the increase price per square foot, homebuyers would be wise to keep an eye on the monthly change in list price per square foot. June to July marked the first time this year that the price did not increase, which could imply the market is loosening, putting more power back into the hands of buyers, Movoto noted.

In 36 of the 38 cities tracked by Movoto, the median list price per square foot increased, up 14.9% year-over-year. The July 2012 median list price per square foot sat at $157; at the end of July, the median price jumped to $181.

However, before July, the median list price per square foot rose for six consecutive months, a negative sign for potential buyers looking to strike a deal. Fortunately for buyers, July put a stop to the price increase. While this is a good sign for homebuyers, data from Movoto indicated that there has been little change in the price between June and July over the past two years.

 

 

Housing supply catches up with demand | 2013-08-05 | HousingWire.

Local Housing Prices hit 31-Month High | Cross River Real Estate

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A significant jump in July home prices and leap in housing inventory are the latest statistics confirming that the Rockford real estate market is realizing the return of home sellers. 
The three-month rolling average price hit $113,178 in July, the highest monthly average since $117,520 in January 2011. 
The July 2013 price was up slightly from $112,679 in July 2011. However, this marked seven out of the last eight months of year-over-
year price increases.
Housing sales were up 2.7 percent in Winnebago, Boone and Ogle Counties from 364 home sales in July 2012 to 374 home sales this July. 
Year-over-year monthly sales have been up 10 out of the last 12 months.
“This extended run of year-over-year sales gains shows the drive to own a home is powering the Rockford housing market,” said Steve Bois, CEO of Rockford Area Realtors.
“Rising home prices fuel the selling market because existing home owners feel more secure about selling their current homes at a profit and moving up to bigger houses.”
Rockford area housing inventory reached 2,093 homes in July, the highest all year and marking the first time properties hit the 2,000 level this year.
“Enthusiasm on the part of buyers shows no signs of flagging,” Bois commented, “and add to that the addition of more than 100 sellers to the market. This indicates that both buyers and sellers believe the time is right to get into the market.”
Driving sales are the return of two key home buyer groups: millennials and move-up buyers.
Almost a quarter of now-married millennials purchased a home with their current spouse before their wedding, according to Coldwell Banker’s new Mortgage and Homebuying study. 
By comparison, just 14 percent of those 45 and older purchased a
home with their current spouse before marriage.
Rising Rockford housing inventory levels indicate the return of sellers to the market.
“Existing home owners looking to purchase a better or larger home are coming back in the housing market,” Bois remarked. 
“Move-up buyers coming back into the market is a true sign of housing recovery and economic growth.”
Bois said inventory should continue to expand as existing homeowners put their homes on the market, giving first-time buyers more opportunities to find a suitable home.
New national research confirms this move. Nearly half of Americans (47 percent) say they feel morecomfortable purchasing a home today than at any other time in the past five years, say results of a survey by Mayflower Research.
“The data reflects an easing of the wariness Americans have felt in recent years following the housing bubble.” Bois said. 
“The top two reasons for a delay—economic instability and declining real estate market—are now falling by the wayside. Americans
have rising faith in the housing market.”

 

 

Local Housing Prices hit 31-Month High.

Local Housing Prices hit 31-Month High | Cross River Real Estate

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A significant jump in July home prices and leap in housing inventory are the latest statistics confirming that the Rockford real estate market is realizing the return of home sellers.
The three-month rolling average price hit $113,178 in July, the highest monthly average since $117,520 in January 2011.
The July 2013 price was up slightly from $112,679 in July 2011. However, this marked seven out of the last eight months of year-over-
year price increases.
Housing sales were up 2.7 percent in Winnebago, Boone and Ogle Counties from 364 home sales in July 2012 to 374 home sales this July.
Year-over-year monthly sales have been up 10 out of the last 12 months.
“This extended run of year-over-year sales gains shows the drive to own a home is powering the Rockford housing market,” said Steve Bois, CEO of Rockford Area Realtors.
“Rising home prices fuel the selling market because existing home owners feel more secure about selling their current homes at a profit and moving up to bigger houses.”
Rockford area housing inventory reached 2,093 homes in July, the highest all year and marking the first time properties hit the 2,000 level this year.
“Enthusiasm on the part of buyers shows no signs of flagging,” Bois commented, “and add to that the addition of more than 100 sellers to the market. This indicates that both buyers and sellers believe the time is right to get into the market.”
Driving sales are the return of two key home buyer groups: millennials and move-up buyers.
Almost a quarter of now-married millennials purchased a home with their current spouse before their wedding, according to Coldwell Banker’s new Mortgage and Homebuying study.
By comparison, just 14 percent of those 45 and older purchased a
home with their current spouse before marriage.
Rising Rockford housing inventory levels indicate the return of sellers to the market.
“Existing home owners looking to purchase a better or larger home are coming back in the housing market,” Bois remarked.
“Move-up buyers coming back into the market is a true sign of housing recovery and economic growth.”
Bois said inventory should continue to expand as existing homeowners put their homes on the market, giving first-time buyers more opportunities to find a suitable home.
New national research confirms this move. Nearly half of Americans (47 percent) say they feel more comfortable purchasing a home today than at any other time in the past five years, say results of a survey by Mayflower Research.
“The data reflects an easing of the wariness Americans have felt in recent years following the housing bubble.” Bois said.
“The top two reasons for a delay—economic instability and declining real estate market—are now falling by the wayside. Americans
have rising faith in the housing market.”

 

Local Housing Prices hit 31-Month High.

Bedford NY area sales highlights | Chappaqua sales up 80% – Bedford up 17% | RobReportBlog

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Sales
Armonkup 7%
Chappaquaup 80%
Pound Ridgedown 25%
Bedford Cornerseven
Bedford Villageup 17%
Bedford Hillsup 9%
South Salemup 7%
Katonahup 2%
North Salemup 11%
Mt Kiscodown 12%

Six Ways to Grow a LinkedIn Group, Tips From the Pros | Cross River Realtor

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Are you part of a LinkedIn group that has stalled?

Do you want to create a LinkedIn group?

LinkedIn groups can be a great way to network with your customers, peers and other professionals in your industry.

But it can be challenging to grow your group and get the people you want to join and participate in the discussions.

We asked the pros to share their best tips to grow your LinkedIn groups.

Follow these tips and you’ll find it easier to create the type of community you’re looking for.

#1: Use Email to Send Invitations That Convert

viveka von rosen

Viveka Von Rosen

You’ll need to send out invitations to get your contacts to join your LinkedIn group and LinkedIn has a form for you to do this.

The default LinkedIn message that’s sent when you fill out the form below is: “Subject: Name invites you to join Group” and “Welcome Message: I would like to invite you to join my group on LinkedIn.” Unfortunately this has about 1% chance of getting someone to your group.

linkedin tweetchat participants

Standard LinkedIn group invitations can be boring. (Note the link field at the bottom gives you the link to your group. Copy this and create a custom URL for your group to use in your email invitations.)

Let’s face it. There’s enough noise out there. If you want to get someone to join your group, you need to give them a good reason. Instead of using the standard LinkedIn invitation, use email to craft the kind of message that will get your contacts to join your LinkedIn group.

In my opinion, the person who does this best is Jill Konrath. She has created a beautifully branded email that she sends out to her email list. It not only shares the link, but some of the reasons you might want to join her group, Fresh Sales Strategies.

 

Six Ways to Grow a LinkedIn Group, Tips From the Pros | Social Media Examiner.

Real estate prices rebound but it’s still a buyers’ market | Cross River Real Estate

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The average sales price of a home in South Mississippi in June reached its highest level in three years, a sign that the Coast real estate market is following the national trend upward.

Homes and condos sold on average for $134,721 in June, according to the Mississippi Gulf Coast Multiple Listing Service. That was up $8,000 from May and almost $11,000 from a year ago. The last time

South Mississippi saw that price was in July 2010.

While that’s good news for some sellers, it doesn’t yet mean homeowners who owe more than their home is worth can move without bringing thousands of dollars to the closing table to satisfy the loan, said Kathy Elias, a real estate agent with Coldwell Banker Alfonso Realty in Gulfport.

She’s been a real estate agent for 18 years and said most everything has changed since the real estate bubble burst. Since 2008, it’s much harder for buyers to get a loan, harder for sellers to get their homes appraised for what they feel their property is worth and extremely tough to buy or sell a condo.

Elias said people who bought a condominium in South Mississippi for $650,000 after Hurricane Katrina can’t sell it today for $200,000, and only a few lenders will finance a condo purchase.

‘Steadily rebounding’

Ray Gonzales Jr., a real estate broker and consultant with Century 21 Williams & Associates in Gulfport, said the inventory of bank foreclosures and short sales has tumbled from 23 percent of all closed sales last year (July 2011 through June 2012) to 11 percent for the same period this year. The rate of homes closed is the best in six years.

 

Read more here: http://www.sunherald.com/2013/08/04/4848863/real-estate-prices-rebound-but.html#storylink=cpy

 

 

Real estate prices rebound but it’s still a buyers’ market | Business | The Sun Herald.