Tag Archives: Bedford Corners NY Real Estate

Bedford Corners NY Real Estate

Building Material Prices drop in October | Bedford Corners Real Estate

Leave a reply

The Bureau of Labor Statistics (BLS) released the Producer Price Indexes (PPI) for October. Inflation in prices received by producers (prior to sales to consumers) declined 0.4% in October following a 0.5% decline in September and no change in August. The decline was the combination of a 0.3% decline in prices for services and a 0.4% decline in prices for goods. In contrast to prior months, energy prices were flat. The decline in the overall index was dominated by declines in services and core goods prices (excluding food and energy).

Despite flat energy prices October’s decline puts overall producer prices on track for a negative fourth quarter, a discouraging development for policy makers at the Federal Reserve who are poised to raise interest rates but have been counting on a firming of inflation before they start (FOMC).

Among wood products, softwood lumber prices ticked up in October after recent monthly declines, but the trend over the last year remains modestly downward. Slowing exports, particularly to China is keeping more supply closer to home and putting downward pressure on prices.

OSB prices ticked down in October. Monthly volatility may be masking the beginning of some recovery in prices from the recent collapse. Prices are up modestly from a low in May.

Gypsum prices added to September gains giving weight to announced price increases. Major gypsum producers have informed customers that prices will be rising through the end of this year and next (gypsum).

blog ppi 2015_11

 

 

read more…

 

http://eyeonhousing.org/2015/11/producer-prices-in-october-bad-news-for-the-fed/

 

South Florida home flippers still on the hunt as prices rise | Bedford Corners Realtor

Leave a reply

Even as local real-estate prices soar, home flipping is still a big business in South Florida.

While it’s getting harder to find a good deal, flippers say they’re riding the wave of rising home values to steady profits— and they don’t expect a crash that will leave them underwater.

Nearly 1,400 single-family homes were flipped in Miami-Dade, Broward and Palm Beach counties during the second quarter of 2015, according to a report from RealtyTrac released Thursday.

That’s about 10 percent of overall home sales, the highest rate among major metro areas in the U.S. Around the nation, only 4.5 percent of sales were flips. RealtyTrac defines a flipped home as one that sells twice in a single year.

“South Florida is a hot spot,” said Daren Blomquist, vice president at RealtyTrac.

Blomquist said that the region’s high rate of foreclosuresand strong record of price growth make flipping a good bet in South Florida.

Even so, local home flipping is slowing somewhat, with the number of flips down about six percent year-over-year. “The prices are starting to hit a level that is out of the sweet spot for a lot of flippers,” Blomquist said. “We’re seeing the number of flips come down and that to me is a sign that we’re in a sustainable housing economy and not a bubble.”

Flips accounted for nearly 14 percent of all sales in South Florida during the headiest days of the bubble, RealtyTrac found.

Although flipping is down slightly, the profits are still there. The average flipped home in South Florida cost $220,000 to buy but sold for $302,000 about six months later, RealtyTrac found. That’s a healthy gain even after repairs and closing costs are taken out

Read more…
http://www.miamiherald.com/news/business/real-estate-news/article30337368.html#storylink=cpy

Peek Inside the Rembrandt’s Former House | Bedford Corners Homes

Leave a reply
As far as famous artists go, Rembrandt Harmenszoon van Rijn, born July 15, 1606, has to be among the most celebrated and well-known. He’s most revered for his oil-on-canvas paintings and his etchings completed during the Dutch golden age of painting in the 17th century. This period saw several Dutch artists practicing in a style of detailed realism.

A big chunk of Rembrandt’s work, including several famous self-portraits and arguably his most famous painting ever, The Night Watch (1642), was created over two decades while he lived in a central Amsterdam house. In celebration of the renowned master’s birthday, more than four centuries ago today, here’s a look at his former home.

Rembrandt's House
In 1639, Rembrandt and his wife, Saskia van Uylenburgh, moved into a remodeled house in Amsterdam for which they paid 13,000 guilders, about $7,200 in today’s money, a huge sum at the time.

The home, which is now the Rembrandt House Museum, seen here, had been drastically remodeled in 1627 and 1628. During the remodel, the home gained a story, a new facade and a triangular corniced pediment — a feature that was the height of modernity at the time, according to the Rembrandt House Museum website. The museum says the remodel was probably spearheaded by Jacob van Campen, who later was the architect for Amsterdam’s town hall, now the Royal Palace, on Dam Square.

Rembrandt's House
But the homeowner experience wasn’t kind to Rembrandt. Despite his sizable income, he couldn’t keep up with his mortgage payments, which eventually led to his bankruptcy, according to the museum. And it wasn’t just the mortgage payments. Rembrandt had fine tastes and reportedly spent more than he was bringing in.

During this time, he had a habit of buying old-master paintings and drawings, busts of Roman emperors and suits of Japanese armor, and built up a large collection of antiquities.

Rembrandt's House
In 1656 the home was basically foreclosed on, and it and Rembrandt’s possessions, including his art collection, were sold off by his creditors. He then rented a small house until his death in 1669.
Rembrandt's House
Between 1658 and 1911 the house was split in two and altered, according to the museum. The city of Amsterdam bought the dilapidated house, which would have been torn down had Rembrandt not famously lived there. A foundation took control in 1907.
Celebrate Rembrandt's Birthday With a Peek Inside HIs Former House
One has to wonder, amid all the stress of owning a house and getting behind on payments, what this home meant to Rembrandt as a place of creativity, safety and nourishment, and how it might have influenced his work, for better or worse.

In the self-portrait shown here, which Rembrandt painted in 1640 shortly after moving into the house, he looks rather calm and confident, with perhaps just a hint of worry on his brow.

Celebrate Rembrandt's Birthday With a Peek Inside HIs Former House
Just a few years after going bankrupt and losing his house, now living in a small rental home, he painted this self-portrait in 1659. To me he looks considerably aged, not just by time but by stress and perhaps even considerable loss.
Rembrandt's House
A restoration of Rembrandt’s home was completed in 1911, though it looked nothing like when the Dutch painter lived there. In 1998 and ’99, the home was restored to look as it did during Rembrandt’s time there. The result of this meticulous restoration — headed by building historian Henk Zantkuijl, an expert in 17th-century houses — is seen in these photos. Ironically, Rembrandt’s bankruptcy inventory played a big role in aiding Zantkuijl’s restoration.
read more….
http://www.houzz.com/ideabooks/51495260?utm_source=Houzz&utm_campaign=u1519&utm_medium=email&utm_content=gallery7

11 Things You Need to Know When You’re About to… Buy a House | Bedford Corners Homes

Leave a reply

Buying a home can be a stressful, complicated process—even if it’s not your first time. To help you take stock and get ready to find your way into a new home, here are some key things you need to know:

1. Know your goals.

This should go without saying, but house-hunting can make even the most practical of people lose sight of what’s really important.  Homeowners may dream of settling in, customizing and forgetting about yearly rent increases. Even so, there are trade-offs: decreased mobility, increased debt and more responsibility (there’s no super to call when the toilet springs a leak). Doing a quick pro and con of rent v. buy helps you make sense of your decision, given your lifestyle goals.

2. Have a five (or seven) year plan.

Staying put for five to seven years is a good rule of thumb for homebuyers but factors such as closing costs, market fluctuations and expenses like maintenance fees could mean it’ll take even longer to break even.

3. Bring 20 percent (or more) to the table.

Some lenders offer low- or no-down payment options for cash-strapped buyers but the terms are typically less attractive than for those with 20 percent. A 20 percent down payment also means avoiding Private Mortgage Insurance (PMI), which can cost an annual 0.3 to 1.15 percent of the original loan balance.

4. Make your own budget.

A mortgage lender may qualify you for more than you actually want to pay each month. Do your own budget analysis to figure out how much you’re comfortable shelling out for housing each and every month. And don’t forget extras like real estate taxes.

5. Check the score.

Higher credit score can add up to tens of thousands of dollars in savings over the life of a mortgage. Get a free copy of your credit report (available once per year) and look for ways to improve your score.

6. Find a real estate agent who fits your profile.

Typically, you start with recommendations from friends or financial professionals, like your CPA. But don’t stop there. Interview three or four agents with a keen eye for one with aspecific knowledge of your desired neighborhood, price range and property type. Then figure out if your personalities will work together—or against each other. We heard that realtor palm springs – Harcourt Desert Homes is a top rated real estate company that can help you buy your dream home.

7. Don’t forget the emergency fund.

A house is the most expensive thing most people will ever buy. But costs go well beyond the purchase price. Routine maintenance, landscaping or pool care fees and unexpected repair bills can catch a new homeowner off guard. Upfront budgeting for these annual costs can save a lot of frustration when the HVAC unit needs to be serviced, get the best deals from this ac installation in Oahu company.

8. Location, location, location.

It’s hard to predict the future, but long-term neighborhood changes can have a dramatic effect on property costs. Homes within desirable school districts tend to be more expensive up front, but they’re also more likely to maintain property value.

9. Don’t scrimp on insurance.

A typical homeowners insurance policy will cover many different types of damage to your home—but be sure that it covers the full cost to rebuild the home. Your coverage should include replacing the structure and your personal possessions, the cost of living expenses if you have to live elsewhere while your house is repaired, plus your liability to others—otherwise, in the event of a loss, you may discover gaps in your coverage.

read more…

http://bridgingthegaps.yahoo.com/post/119298350072/

Credit News | Bedford Corners Real Estate

Leave a reply

Some Great Ways to Take Advantage of an “Average to Good” or “Excellent” Credit Score
For those who achieve an “average to good” FICO score (660 and above) or an “excellent” score (740 and above), there are many ways to take advantage of this achievement by opening new doors for opportunity and savings. As a real estate/financing professional, you can share these tips with your client base to bring value added and allow your clients to do further business with you.
Here are some things those with great credit can take advantage of (but must be aware of the potential downsides):
● Transferring Credit Card Balances​
Many credit cards can charge an exorbitant interest rate, and these rates coupled with debt can lead to large payments and wasted money. In fact, the average credit card debt in the US is currently over $6,500. Fortunately, those with great credit are eligible for a method to pay debt off rather quickly and easily. People with great credit should be eligible for a 0 percent interest rate on balance transfers, which essentially allows one to transfer credit card debt from a high interest card to a no interest account for a certain time period.
It’s important to note a few things when considering this option:
– Some of these cards will slap on a 3% fee for transferring balances, and you should make sure to find a card that doesn’t charge this fee.
– Opening new credit reduces your average age of credit which will drop your credit scores.  Do not open new cards if you plan on applying for a mortgage or loan  within 2 years since scores may drop substantially after opening new credit.  Make sure the cards you open are done strategically and not often.
●​ Credit Card Upgrades
​
High FICO scores will also make consumers eligible for the best credit card offerings. Many of the cards offered to those above a 660 score have better benefits, rewards, and perks unavailable to others. In addition, these cards often offer sign-on bonuses.  Clearly if your scores are above a 740 the perks are even better.   However, consumers have to make sure that they follow our tips when opening a new card in order to maintain their score (see the tips here) and should contact us with any questions.
●​ Home Refinance
​
Those with great credit can also take advantage of historically low home interest rates. With a higher FICO score, many can lock in a much better rate for their mortgage. Even a small improvement in interest rates can lead to savings in the hundreds of thousands over the life of a mortgage.
●​ Negotiating better interest rates or transfer offers with current credit cards
​
If you have existing cards and have excellent credit scores you can ask the creditor for lower interest rates or transfer offers on your existing cards.  This is great if you don’t want to reduce your scores by opening new credit.
● ​Requesting limit increases on current cards
The higher your credit limits the more leeway you have to charge without reducing your credit scores.  Since balance-to-limit ratios on revolving credit (credit cards) must be under 10% for the best score increases, it is great to have high limits.  Calling your creditor and asking for a limit increase can help your scores.  The creditor will pull your credit reports and scores for approval so the scores can drop a little from the inquiry.  If you have had many third party inquiries during the year it could drop scores significantly and it might be best to wait a year from the latest third party review.
Do you have any credit questions?
Tracy Becker, President
155 White Plains Road
Suite 200
Tarrytown, NY 10591
or  (toll free) 866-388-9400
F :(914) 524-5014 ​​

Most renters are not ready (or willing) to buy | Bedford Corners Real Estate

Leave a reply

The rent may be too damn high, but it’s not enough to turn most renters into buyers.

The gap between rental costs and household income is widening to “unsustainable levels” in many parts of the country, new research published Monday by the National Association of Realtors found, “and the situation could worsen unless new home construction meaningfully rises.” In the last five years, a typical rent rose 15% while the income of renters grew by only 11%, the study found. The top markets where renters have seen the highest increase in rents since 2009 are New York (51%), Seattle, (32%), San Jose, Calif., (26%), Denver, (24%) and St. Louis. (22%).

“Many of the metro areas that have experienced the highest rent increases are popular to millennials because of their employment opportunities,” Lawrence Yun, NAR’s chief economist said in a statement. “With a stronger economy and labor market, it’s critical to increase housing starts for entry-level buyers or else many will face affordability issues if their incomes aren’t compensating for the gains in home prices.”

But most renters are reluctant to buy. Only 12% of current renters say they plan to buy a home within the next year, according to the latest “Housing Confidence Index” published last week by real-estate company Zillow, although this was up 25% on the previous year. On a scale of 1 to 100, with a reading of more than 50 indicating general confidence, the housing confidence index rose to 70.6 in January 2015, up 4.4 points over the previous year.

 

read more…

 

http://www.marketwatch.com/story/most-renters-are-not-ready-or-willing-to-buy-2015-03-14

How to Save for a Down Payment | Bedford Corners Real Estate

Leave a reply

Rents are projected to outpace home values by the end of the year, according to Zillow, so it’s a good time to consider buying a home. Fixed mortgage payments and a more stable market are other reasons to make the jump.

Zillow projects that by the end of 2015, millennials will become the largest home-buying age group. Whether you fall into that category or not, coming up with a down payment can be challenging. Here are some strategies to help you get there.

Reduce large expenses

Sure, skipping your morning latte may help save money over time, but why not attack your biggest expenses head on for quicker results? We’re talking about your rent, which is likely eating up over 30 percent of your take-home pay. You can try to negotiate a better rate with your landlord, move to a cheaper location, or downsize — going from a two-bedroom to a one-bedroom can drop your rent by 25 to 30 percent, depending on where you live.

You could also bring in a roommate (or two). Sharing a home isn’t just for kids straight out of college anymore. In fact, the percentage of adults living with someone other than a spouse or partner continues to rise (32 percent nationwide in 2012; up from 26 percent in 2000, according to Zillow’s analysis of the latest Census Bureau data). Jump on the bandwagon and pocket the savings.

Automate savings contributions

This is a no-brainer: Tell your payroll department that you want a fixed amount automatically deducted from your paycheck and deposited into a designated savings account.

Start small. Most people can cut their income by 2 percent without even noticing, and the payoff over time can be significant.

Stash windfalls

The average tax refund in 2014 was $3,116; this year, it’s expected to rise to $3,295. And while it may be tempting to splurge, why not exercise some restraint and put your windfall into a designated down payment account? You’ll be happy you did.

Save less for retirement

This suggestion is certainly not the norm. And just to clarify, you should not raid your retirement account. But if you have a 401(k) employer match, and are already contributing the max (6 percent), consider stopping there and allocating additional cash toward your down payment — in a separate after-tax account.

 

read more…

 

http://www.zillow.com/blog/strategies-saving-for-down-payment-168290/

GDP Growth in the Third Quarter – And It Just Keeps Getting Better | Bedford Corners Real Estate

Leave a reply

 

The Bureau of Economic Analysis (BEA) released its third estimate of real GDP growth for the third quarter. Growth in economic output was revised upward to a seasonally adjusted annual rate of 5.0% from 3.9% in the second and 3.5% in the advance estimate. The pace was 4.6% in the second quarter.

The revisions were largely concentrated in personal consumption expenditures (PCE) and fixed nonresidential investment, a very positive signal for momentum in final demand going forward. PCE growth accelerated to an annualized pace of 3.2% from 2.5% in the second quarter. Growth in fixed nonresidential investment accelerated to 8.9% from 7.1%.

The previously reported slowdown in GDP growth between the second and third quarters has been erased by the latest revision, or more likely postponed until the fourth quarter. The acceleration in PCE showed surprising strength, business investment held up better than expected, imports (which subtract from growth) are likely to strengthen, and the ramp-up in federal defense spending will be unwound generating drag going forward.

We still expect strong 3.0% growth in the fourth quarter and an acceleration in growth in 2015 but the surprising strength in third quarter growth is unlikely to be sustained.

blog gdp 2014_12

 

read more…

 

http://eyeonhousing.org/2014/12/gdp-growth-in-the-third-quarter-and-it-just-keeps-getting-better/

Shiny, Aluminum-Clad ‘Dutchess House’ Wants Exactly $1M| #BedfordCorners Real Estate

Leave a reply

 

17 images

Location: Millerton, N.Y.
Price: $1,000,000
The Skinny: When New York architects Matthew Grzywinski and Amador Pons accepted the commission for what would eventually become Dutchess House No. 1, they took on a complicated brief that called for a mix of country home and urban convenience, a home that would be open to its environment while remaining totally secure, with a guest house for visiting relatives, and all on a very tight budget. The pair soon arrived at a design which the listing calls a “Hyper Modern Danish Farmhouse,” an angular, aluminum-clad two-story home with an easily secured lower level and an upper bedroom suite with broad sightlines and its own private terrace. A small patio in front of the home is bookended by the guest house—clad in aluminum and with a matching set of the home’s trademark yellow Dutch doors—and there’s also a bizarre/cool indoor-outdoor shower. The home, which the brokerbabble trumpets as “arguably the most interesting listing in the northern second homes marketplace,” asks a straight $1M.

 

read more…

 

http://curbed.com/archives/2014/09/09/nys-dutchess-house-no-1-and-its-adorable-dutch-doors-wants-1m.php

 

Affordable housing draws middle class to inland cities | Bedford Corners Homes

Leave a reply

 

Americans have never hesitated to pack up the U-Haul in search of the big time, a better job or just warmer weather. But these days, domestic migrants are increasingly driven by the quest for cheaper housing.

The country’s fastest-growing cities are now those where housing is more affordable than average, a decisive reversal from the early years of the millennium, when easy credit allowed cities to grow without regard to housing cost and when the fastest-growing cities had housing that was less affordable than the national average. Among people who have moved long distances, the number of those who cite housing as their primary motivation for doing so has more than doubled since 2007.

Rising rents and the difficulty of securing a mortgage on the coasts have proved a boon to inland cities that offer the middle class a firmer footing and an easier life. In the eternal competition among urban centers, the shift has produced some new winners.

Oklahoma City, for example, has outpaced most other cities in growth since 2011, becoming the 12th-fastest-growing city last year. It has also won over a coveted demographic, young adults age 25 to 34, going from a net loss of millennials to a net gain. Other affordable cities that have jumped in the growth rankings include several in Texas, including El Paso and San Antonio, as well as Columbus, Ohio, and Little Rock, Ark.

 

read more…

 

 

http://finance.yahoo.com/news/affordable-housing-draws-middle-class-014410351.html