Tag Archives: Armonk Luxury Homes for Sale

Vital insurance questions answered | Armonk Real Estate

 

Winston Churchill once described the Soviet Union as “a riddle wrapped in a mystery inside an enigma.” The same might be said of insurance in its varied forms.

You know you should have a comprehensive, cost-effective network of coverage, but what you need and how much can be confusing. Here are answers to 15 of the most commonly asked questions about insurance:

1. What sorts of insurance do I need?

Most people need to be concerned with insuring four areas: their possessions, their life, their health and their finances.

2. When you’re talking about possessions, does that mean homeowners insurance is the most important?

Probably, because a house is likely to be the single biggest investment most of us make. The rule of thumb with homeowners insurance is not to skimp. If you can, pay extra for guaranteed-replacement coverage, which mandates that the insurer will replace your home if it is destroyed, regardless of the cost. If you instead specify a dollar amount of coverage, and it’s not enough, you could end up paying the difference.

3. Once I have guaranteed-replacement coverage for my home, I’m all set, right?

Well, it’s important to know what your homeowners insurance covers and what it doesn’t. For example, particularly pricey items such as big-screen televisions and fancy stereo equipment are often excluded from policies or, at the least, inadequately covered. The same goes for antiques, collectibles, expensive jewelry and furs. Ask for riders that specifically cover those items.

 

 

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http://money.msn.com/insurance/vital-insurance-questions-answered-wuorio.aspx

Once again, real estate opens up its coffers for Cuomo | Armonk Real Estate

 

Top New York real estate players continue to funnel their considerable financial resources to Governor Andrew Cuomo’s re-election campaign, a review of the latest state campaign finance filings show.

Leading the pack by a comfortable distance was Leonard Litwin’s Glenwood Management, which gave $169,200 between July 12 and August 4, according to campaign finance records. In total, Glenwood, which has a rental apartment empire on the Upper East Side and is a vehement opponent of the under-construction East 91st Street waste transfer station, has given the governor over $1 million since 2011.

Retail real estate mogul Richard Baker of NRDC Equity Partners gave Cuomo $50,000 between July 12 and August 4. NRDC, through subsidiaries, owns both Lord & Taylor and Saks Fifth Avenue.

Entities associated with the Fisher Brothers — which was recently hit with subpoenas by the now-defunct Moreland Commission over 421-a tax abatements that were carved out by Cuomo for the firm — gave at least $40,000. BFC Partners, which is developing the $580 million Empire Outlets mall project on Staten Island, gave $25,000. East Coast Plumbing LLC, which shares a Paramus, NJ-address with a Vornado Realty Trust-controlled entity, also gave $25,000, as did entities associated with Ron Moelis’ L&M Development.

Brokers who opened their wallets for Cuomo in this period include Cushman & Wakefield’s Bruce Mosler, who gave $10,000, and Newmark Grubb Knight Frank’s Brian Waterman and Michael Ippolito, who each contributed $5,000.

Overall, Cuomo raked in just under $1.1 million in this filing period.

The Fisher Brothers and Mosler made their donations on July 24, the New York Observer noted, just a day after a New York Times investigation revealed that Cuomo may have interfered with an anti-corruption panel that was looking into his ties to the real estate industry.

In the first half of the year, Cuomo’s four top donors all came from the industry, as TRD reported.

– See more at: http://therealdeal.com/blog/2014/08/13/once-again-real-estate-opens-up-its-coffers-for-cuomo/#sthash.3Rmx3MRj.dpuf

Mortgage Rates Remain Largely Unchanged | Armonk Real Estate

Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage once again showing very little change while remaining near their 2014 lows prior to a better than expected second quarter gross domestic product reading.

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 4.12 percent with an average 0.6 point for the week ending July 31, 2014, down from last week when it averaged 4.13 percent. A year ago at this time, the 30-year FRM averaged 4.39 percent.
  • 15-year FRM this week averaged 3.23 percent with an average 0.7 point, down from last week when it averaged 3.26 percent. A year ago at this time, the 15-year FRM averaged 3.43 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.01 percent this week with an average 0.5 point, up from last week when it averaged 2.99 percent. A year ago, the 5-year ARM averaged 3.18 percent.
  • 1-year Treasury-indexed ARM averaged 2.38 percent this week with an average 0.4 point, down from last week when it averaged 2.39 percent. At this time last year, the 1-year ARM averaged 2.64 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.

Quotes
Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac.

“Mortgage rates were little changed this week with the 30-year fixed-rate mortgage rate at 4.12 percent, just a basis point lower from the previous week. Meanwhile, on Wednesday afternoon the yield on the 10-year Treasury surged as data showed gross domestic product for the second quarter at a 4.0 percent annualized rate, above expectations.”

Future of housing in question | Armonk Real Estate

 

The housing industry remains guarded as second-quarter earnings are estimated to trend down slightly for most U.S. banks, presenting a questionable future for the market.

Kroll Bond Rating Agency released its Q2 2014 Bank Earnings Preview, which cautioned that there will be persistent challenges in areas such as mortgage finance, capital markets and net interest margins for the next several years.

And banks will feel the weight of that, Kroll said.

“Over the next several years, we believe that the business models of large banks will be changing significantly as the importance of mortgage lending and servicing declines relative to other activities. Indeed, among U.S. depository institutions, credit unions are the only sector currently increasing their exposure to the mortgage market,” the report said.

Volatility in market interest rates and a lackluster economy spurred a difficult first quarter, and the second half of the year won’t be much better as “a lack of visibility as to the future direction of interest rates will be a reoccurring theme for banks and markets during the rest of 2014.”

The first bank to release its earnings will be mortgage giant Wells Fargo (WFC) on Friday morning.

While the bank is the market-share leader in the origination and servicing of 1-4 family mortgage loans, Kroll cautioned, “Given the decline in mortgage lending volumes experienced by WFC and other large banks, as well as the zero-rate policy of the FOMC, it may be difficult for the bank to deliver positive revenue growth in 2014 and beyond.”

During the first-quarter of 2014, Wells Fargo reported record net income of $5.9 billion, up 14%, or $1.05 per diluted common share, around expectations.

 

 

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Future of housing in question amid 2Q14 earnings release

 

Chinoiserie Chic in New England | Armonk Real Estate

Interior designer Phoebe Lovejoy Russell’s kitchen/dining room was not working for her family at all. One of the first things you see when you walk into her condo, the kitchen had an oddly placed freestanding closet, and a 4-foot-long island divided the space in an awkward way. Striving to keep it open, light and not too kitchen-y, she created a look that’s bright and crisp with fresh chinoiserie style, taking inspiration from two hand-painted silk wallpaper panels.

Conrad Hilton’s Beached Boathouse In The Keys Asks $6.25M | Armonk Real Estate

 

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A boathouse purportedly custom build for Conrad Hilton, the famous hotel baron and founder of Hilton Hotels, and Paris’ grandpop, is on the market for $6.25 million. The 60 foot 1948 Chris Craft was docked next to the nearby Cheeca Lodge when Hurricane Donna hit in 1960, flinging Hilton’s boathouse up onto US 1, from where it was then rolled on telephone poles to this spot. It has also played host to Presidents Truman and Bush Sr. over the years. The boathouse has a main level cabin and bunk beds in what was probably the upper deck bridge, and comes with 5.24 acres of land and an expansive 300 feet of oceanfront beach, which is fabulously rare in the keys.

 

 

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http://miami.curbed.com/archives/2014/06/18/conrad-hiltons-beached-boathouse-in-the-keys-asks-625m.php

Rates are low, prices stable — why is no one buying? | Armonk Real Estate

 

Motley Fool has a piece up from the weekend that caught HousingWire’s eye: “2 Simple Charts Prove That Now Is An Exceptional Time to Buy a Home.”

It caught our eye because it sounds like the kind of story we publish from time to time – our own story from just a month ago along these lines looks at the convergence of low mortgage rates and home prices with a slightly different twist. The Motley Fool writer starts strong enough:

If you’re wondering whether this summer is a smart time to buy a home, then let me cut to the chase. Thanks to still-historically low mortgage rates, housing may never again be as affordable as it is right now.

At present, the interest rate on a 30-year fixed rate mortgage is 4.19%. That’s the cheapest they’ve been all year, and they even recently dipped below half the long-run average of 8.52%.

Click below to see the chart.

Mortgage rates and home prices are two of the big drivers of home sales, after all. Motley Fool looks at these in terms of rates (ridiculously low) and home price affordability, which as measured by the National Association of Realtors, is “the degree to which a typical family can afford the monthly mortgage payments on a typical home.”

Click below to see the chart.

And by that NAR measure alone, homes are more affordable – but that’s just too broad a measure. It’s an empty measure, like the 77 cents on the dollar argument, that doesn’t fairly reflect reality.

But for the sake of argument, let’s say the NAR affordability index isn’t flawed.

Rates are low. According to Freddie Mac’s latest Primary Mortgage Market Survey, although rates edged slightly higher for the week ended June 12, they are still low for the year. The 30-year, fixed rate mortgage averaged 4.20%, up from 4.14% last week and 3.98% a year ago.

 

 

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http://www.housingwire.com/blogs/1-rewired/post/30331-rates-are-low-prices-stable-why-is-no-one-buying