The most overvalued housing market in America | 2014-01-21 | HousingWire.
The most overvalued housing market in America | Bedford Hills Real Estate
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53 Ways to Market Your Google Plus Hangout on Air | Bedford Hills Real Estate
Fixed Mortgage Rates Move Lower on Economic Data | Bedford Hills Homes
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.”
Terry Riley Explores Miami’s Return To Its Pedestrian Roots | Bedford Hills Real Estate
In a guided tour by car of downtown Miami, Terry Riley, former top architecture curator at the MoMA in New York and one of Miami’s reigning architecture intellectuals, tells Dezeen that Miami’s pedestrian sensibility is returning to the core of the city. The historic design of downtown Miami, with its wide pedestrian arcades to guard against sun and rain are a result of the city originally being laid out in the very late 19th and early 20th centuries with the pedestrian in mind.
When businesses needed access to larger spaces, and construction with lots of glass and air conditioning became the preferred way to keep Miami’s hot climate at bay, Brickell started to boom with its tall glassy towers, windswept pedestrian plazas, and copious parking decks. Miami “lost commonsense construction with air conditioning and underground parking garages,” Riley says, noting that Miami’s present relationship to downtown, signaled in the blossoming bars, boutiques and bicyclists where there had been or continue to be boarded-up storefronts, “is completely new.”
The most spectacular evidence that downtown Miami has come back to its senses could be the enormous overhanging eaves of the Pérez Art Museum Miami, the successor of the Miami Art Museum whose move to the bay front was announced four days before Riley resigned his post as director of that institution. Riley tacitly acknowledges that the museum’s prior location in the Philip Johnson-designed cultural complex failed in its mission to “serve as a catalyst” for development downtown. In fact it had been the second time Riley replaced Johnson. His old position at the MoMA was created for Johnson in the 1930s, who occupied it for years.
This Adorable Chalet in Prospect Park South Wants $2.275M | Bedford Hills NY Real Estate
Situation on housing market in 2014 will depend on the state | Bedford Hills NY Homes
The real estate market of Ukraine in 2014 will be largely influenced by the state, according to experts polled by Interfax-Ukraine.
“One of the threats to the property market is the draft law initiated by Omelchenko [bill No. 3757-1 of Regions Party MP Valeriy Omelchenko], which foresees the introduction of a 15-17% tax on the sale and purchase of real estate: if it is adopted – it worth expecting the total collapse of the market,” the vice president of the Association of Professional Property Managers, Anatoliy Topal, said.
Another threatening factor for the primary housing market, according to him, is a high increase in the price of construction materials.
According to the head of the Union of Realtors of Ukraine, Oleksiy Rubanov, the main risk to the real estate market development is a lack of liquidity of households.
“As for prices, activity, the situation in 2014 will slightly differ from 2013. Depressive mood will be observed on the market in 2014 and in 2015,” he said.
In addition, the experts noted a peculiar record set by the real estate market in the past year: the number of transactions on the primary market during this period exceeded the number of deals on the secondary housing market.
“People, who are able to buy, prefer to buy housing on the primary market due to the fact that developers offer loyalty programs, installment payments, favorable loans, interesting price offers,” said Rubanov.