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Bedford Hills Homes for Sale

Case-Shiller: Home prices dipped in November | Bedford Hills NY Real Estate

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Home prices in November fell slightly for the first time since November 2012, as the combination of price gains earlier in 2013 and higher mortgage rates caused prices to reach a plateau, according to a leading index of housing-market activity.

The Standard & Poor’s Case-Shiller index of home prices in 20 top cities fell 0.1% in November. A separate 10-city index also fell by 0.1%, Standard & Poor’s/Dow Jones Indices said in a statement. The 20-city index showed prices 13.8% higher than a year earlier, while the 10-city index rose 13.7%.

The company said the dip is not a reversal of the housing recovery. Prices typically dip in November and this performance was the best for any November since 2005.

“Beginning June 2012, we saw a steady rise in year-over-year increases, (and) November continued that trend,” said David Blitzer, head of the index committee at S&P/Dow Jones Indices.  “The Sun Belt continues to push ahead with Atlanta, Las Vegas, Los Angeles, Miami, Phoenix, San Diego, San Francisco and Tampa taking eight of the top nine spots.”

Home prices are still rising despite last May’s jump in mortgage interest rates, Blitzer said. Mortgage applications for purchase were up in recent weeks, confirming home builders’ optimism shown in surveys by the National Association  of Home Builders, he added.

 

http://www.usatoday.com/story/money/business/2014/01/28/case-shiller-housing/4957633/

 

What we value in U.S. is not the same as in other countries | Bedford Hills Homes

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How does marketing to and negotiating with U.S. clients differ from working with global clients? Understanding the difference and adapting your style can dramatically improve your income in 2014. Global buyers and sellers continue to be a growing segment of the U.S. real estate market. A critical step in serving this market is being able to identify the unique cultural needs of your clients. The next step is to adjust your marketing and negotiation style to fit their cultural background.

The reptilian always wins Psychologist and marketing specialist Clotaire Rapaille’s research shows that the brainstem, rather than the cortex, has the greatest influence on buying decisions. This area is sometimes known as the reptilian brain. It lacks words, yet it regulates virtually all of your vital functions.

When you can discover what motivates a person’s reptilian brain, you greatly increase the probability of making a sale. As Rapaille puts it, “The reptilian always wins.” In other words, the brain’s desire for food, comfort and other basic needs outweighs the logical decisions made in the cortex.

 

 

 

– See more at: http://www.inman.com/2014/01/27/my-home-is-my-castle-4-tips-for-understanding-americans-unique-real-estate-needs/?utm_source=20140127&utm_medium=email&utm_campaign=dailyheadlinesam#sthash.dOdsKWwH.dpuf

Q4 California Foreclosures Hit Lowest Mark in Eight Years | Bedford Hills Real Estate

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The number of California homeowners pulled into the formal foreclosure process dropped to an eight-year low last quarter, the result of an improving economy, foreclosure prevention efforts and higher home prices, according to DataQuick. A total of 18,120 Notices of Default (NoDs) were recorded by lenders and their servicers on California owners of houses and condos during the October-through-December period. That was down 10.8 percent from 20,314 for the prior quarter, and down 52.6 percent from 38,212 in fourth-quarter 2012. Last quarter’s tally was the lowest since 15,337 NoDs were recorded during fourth-quarter 2005. NoDs peaked in first-quarter 2009 at 135,431. DataQuick’s NoD statistics go back to 1992.

“Some of this decline in foreclosure starts stems from the use of various foreclosure prevention efforts – short sales, loan modifications and the ability of some underwater homeowners to refinance. But most of the drop is because of the improving economy and the increase in home values. Fewer people are behind on their mortgage payments. And of those who do get into trouble, many, if not most, can sell and pay off what they owe. Also, those who are underwater and close to slipping into foreclosure are far less likely to give up their homes now that appreciation has returned to the housing market. There’s a strong incentive to hang on,” said John Walsh, DataQuick president.

 

http://nationalmortgageprofessional.com/news46411/Q4-California-Foreclosures-Hit-Lowest-Mark-Eight-Years

‘Overwhelming’ California Mega-Manse Wants $15.9M | Bedford Hills NY Homes

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Location: Rancho Santa Fe, Calif. Price: $15,900,000 The Skinny: There’s an extremely fine line between awe-inspiring opulence and self-parody, a line that this newly renovated SoCal mega-manse smashes with a diamond-encrusted sledgehammer and then plows over with a gold-plated Rolls Royce that runs on cognac and burning bales of thousand dollar bills. It’s not that, as a matter of principle, there’s anything necessarily wrong with wine cellars, or wainscoting , or even drapes, if that’s your thing. In practice, however, an unlimited renovation budget combined with a desire to project refinement can lead to real trouble (not to mention an overabundance of reproduction statuary). Still, where one person sees trouble (wall paintings) someone else may see a home full of killer features (shooting fountains), and this mansion’s decor certainly provides plenty of opportunities for judgment-passing one way or the other. Even the brokerbabble pays homage to the sheer physical power of the place: “Upon entering, the beauty of the home instantly overwhelms you,” though whether it’s beauty that overwhelms is an open question. The six-bedroom, 10-bathroom home, which tops out at 12,500 newly bedazzled square feet and also boasts a 100,000-gallon pool, is asking $15.9M.

Fixed Mortgage Rates Move Lower on Economic Data | Bedford Hills Homes

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Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates fall amid signs of a weakening economic recovery.

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 4.41 percent with an average 0.7 point for the week ending January 16, 2014, down from last week when it averaged 4.51 percent. A year ago at this time, the 30-year FRM averaged 3.38 percent.
  • 15-year FRM this week averaged 3.45 percent with an average 0.7 point, down from last week when it averaged 3.56 percent. A year ago at this time, the 15-year FRM averaged 2.66 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.10 percent this week with an average 0.5 point, down from last week when it averaged 3.15 percent. A year ago, the 5-year ARM averaged 2.67 percent.
  • 1-year Treasury-indexed ARM averaged 2.56 percent this week with an average 0.5 point, unchanged from last week. At this time last year, the 1-year ARM averaged 2.57 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 drifted downward this week amid signs of a weakening economic recovery. The economy added 74,000 jobs in December, less than the market consensus forecast. Retail sales rose 0.2 percent in December, which was nearly half of November’s 0.4 percent increase. Meanwhile, the unemployment rate fell to 6.7 percent which was the lowest since October 2008.”