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Fixed Mortgage Rates Little Changed | Bedford Hills Real Estate

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Freddie Mac  today released the results of its Primary Mortgage Market Survey(R) (PMMS®), showing average fixed mortgage changing little from the previous week amid light economic data releases.

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 4.42 percent with an average 0.7 point for the week ending December 12, 2013, down from last week when it averaged 4.46 percent. A year ago at this time, the 30-year FRM averaged 3.32 percent.
  • 15-year FRM this week averaged 3.43 percent with an average 0.7 point, down from last week when it averaged 3.47 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 2.94 percent this week with an average 0.4 point, down from last week when it averaged 2.99 percent. A year ago, the 5-year ARM averaged 2.70 percent.
  • 1-year Treasury-indexed ARM averaged 2.51 percent this week with an average 0.4 point, down from last week when it averaged 2.59 percent. At this time last year, the 1-year ARM averaged 2.53 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 amid a light week of economic data releases. Of the few releases, total nonfarm payroll employment rose by 203,000 in November and the unemployment rate declined to 7.0 percent. Also, single family mortgage debt outstanding increased for the first time since 2008. This is a positive sign as it reflects that the pick-up in new purchase-money originations has offset loan paydowns and led to a net increase in principal outstanding.”

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation’s residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for one in.

JD Power survey highlights challenges of serving first-time buyers and sellers | Bedford Hills Realtor

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Brokerages affiliated with franchisors Prudential Real Estate, Re/Max and Century 21 scored higher than average in overall customer satisfaction among first-time buyers in a J.D. Power study measuring customer satisfaction among first-time and repeat homebuyers and sellers among the nation’s largest real estate companies.

In general, overall satisfaction with real estate companies was higher among consumers who had bought or sold a home before, compared to first-time buyers and sellers. On a 1,000-point scale, the average score among repeat homebuyers was 817, and 803 among repeat home sellers, compared with the industry average of 797.

Companies affiliated with Prudential Real Estate ranked highest with first-time homebuyers in overall customer satisfaction (811), followed by Re/Max (798) and Century 21 (797). Companies affiliated with Coldwell Banker (792) and Keller Williams (787) scored below average. Among first-time sellers, Prudential Real Estate (809), Keller Williams (802), Re/Max (800) and Century 21 (799) were tops, with Coldwell Banker (780) scoring below average.

“Real estate companies remain challenged in adapting their customer service approach to best meet the needs of first-time homebuyers and sellers,” said Christina Cooley, director in the diversified services industries practice at J.D. Power, in a statement.

“They need to educate these customers by explaining the current state of the market, discuss foreclosure and short-sale transactions, and walk them through every step of the closing process.”

 

 

– See more at: http://www.inman.com/2013/12/10/jd-power-survey-highlights-challenges-of-serving-first-time-buyers-and-sellers/?utm_source=20131211&utm_medium=email&utm_campaign=dailyheadlinesam#sthash.at475iP0.dpuf

How to Use Facebook Voice Messages for Your Business | Bedford Hills Realtor

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Do you use your Facebook personal profile to build business relationships?

Have you considered using Facebook voice messages to connect with your customers?

If you connect with customers on your personal profile, you can use Facebook voice messages with great success.

In this article, I’ll show you four ways Facebook voice messages can benefit your business.

What are Facebook Voice Messages?

Facebook voice messages are 60-second audio messages you record from an iOS or Android smartphone/tablet and send to friends and followers whom you’ve followed back.

To send Facebook voice messages, simply open a new message using the Facebook mobile app or the Facebook Messenger app.

mari smith message

Recording a Facebook voice message to Mari Smith.

 

From an Android phone, press the paperclip to open a blank voice message. From an iOS device, press the microphone.

When your blank message is opened, press and hold the red button to record. When you’re done recording, let go of the button and click Done to send your recording.

When a voice message is received, a playback box appears in the recipient’s Chat or Message window. They just click the arrow to listen!

facebook voice message

Example of a sent Facebook voice message.

Now that you have a better understanding of what Facebook voice messages are and how you access them, let’s see how you can use them to benefit your business.

#1: Build Relationships When You Welcome New Followers Personally

When you’ve hit the magic 5,000-friend limit, the only way to connect with more people from your profile is to allow them to follow you.

One way to leverage personal connections with Facebook voice messages is to follow your followers.

To find your followers, go to the About tab on your profile. Scroll down to your Friends box and click on Followers.

Follow a few of your newest followers, then thank each of them for connecting with you with a short voice message. You might also use the opportunity to let them know about your website, Facebook page or any of your other social media channels.

mari smith followers

Find your followers on the About tab of your profile.

Sending a personalized voice message to new followers will let them know you notice them and help you develop a deeper relationship with them.

#2: Become a Recognized Information Resource

If you receive a lot of questions, it can be difficult to keep up with the volume that comes through.

When you receive the same question from several people, use Facebook voice messages to record the answer once and deliver it to each person at the same time. Not only is this faster than typing individual text-based replies, it makes things more personal and you solve their problem with one effort!

If someone posts a question about something you answered in your ebook, send a Facebook voice message with a link to a free version of the ebook and mention where the answer is located.

It’s easy to become a go-to resource when you use personal voice messages to answer questions from your community.

#3: Create Brand Ambassadors

If you’re a public figure, most of your fans rarely get the opportunity to connect with or meet you in person. Facebook might be the closest they get to interacting with you.

Use voice messages to surprise a few of your business connections with a free product and a personalized recording from the CEO.

istock microphone

Personal voice messages have greater impact than generic emails or posts. Image source: iStockphoto

A series of surprise voice messages to share free products with people helps you create enthusiastic brand ambassadors.

#4: Reward Loyalty With Targeted Deals

Nobody feels special when they receive a discount that’s offered to everyone, but they do feel special when they receive a personal offer that’s created just for them.

Send targeted Facebook voice messages to promote exclusive deals to your community members.

When you notice a particular customer has longstanding loyalty to a product or service you offer, send a voice message and offer a truly exclusive discount on that product. Or a sneak preview of a new product!

Not only does this keep your customer excited about your products, but it also empowers him or her to tell friends about your business as well.

istock exclusive seal

Personalize exclusive offers for specific voice message recipients. Image source: iStockphoto

Targeted deals are a great way to reward your loyal customers and drive awareness for your business at the same time.

Use Facebook Voice Messages Wisely

Remember, just because you can send Facebook voice messages to all your connections doesn’t mean you should go overboard. Send out too many and you risk being viewed as a spammer and that bad reputation will reflect negatively on your business and the services you provide.

Instead, use Facebook voice messages strategically to make a good impression with individual members of your community, become a valuable resource and build loyalty with your fans.

 

 

 

 

http://www.socialmediaexaminer.com/facebook-voice-messages/

The Russians are coming! | Bedford Hills Real Estate

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When Bill de Blasio takes office in January, Russian billionaires with New York City pied-à-terres could find themselves on the receiving end of a tax hike, if the mayor-elect embraces proposals released Wednesday by the Independent Budget Office.

The IBO ideas take aim at wealthy non-residents who maintain pricey apartments within the five boroughs.

The IBO said Wednesday that the city could generate savings by ending a much-used property tax break on co-ops and condos that are not being used as primary residences. The IBO also suggested a transfer tax for properties valued at $5 million or more. The two proposals could save $44 million annually.

Mayor Michael Bloomberg has made it abundantly clear that he is loath to place wealthy homeowners in that position, regardless of their passport.

“Wouldn’t it be great if we could get all the Russian billionaires to move here?” he asked rhetorically earlier this year. He argues that wealthy foreigners spend into the city economy but don’t use city services, offsetting tax revenue lost through their exemption from the tax rolls.

The IBO, in its latest “Budget Options for New York City” on Wednesday, argues that the 421-a program is tailor-made to attract a maximum amount of billionaires from Russia or anywhere else, and should therefore be scrapped entirely.

The 421-a program was created to promote housing development citywide by offering temporary tax exemptions on newly built apartments. But purchases in new co-op and condo construction–especially in Manhattan–are being increasingly made by non-city residents, and the IBO projects that the number could rise to nearly half of all purchases in the coming years.

 

 

 

http://www.crainsnewyork.com/article/20131204/BLOGS04/131209960

10 best suburbs | Bedford Hills NY Real Estate

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Every year, hundreds of thousands of homebuyers are moving to the country’s most booming metropolitan areas. For those that don’t want to deal with the traffic and other hassles of big-city living, there are the suburbs. These smaller cities and towns offer proximity to everything their larger neighbors have to offer, while often being safer and less crowded.

To rank these cities, we relied on a set of criteria used to measure how safe, affordable and — ultimately — livable they are. We looked at the top 25 most populous cities in the country and then determined the three largest suburbs of each city for a total of 75 suburbs. Then, we ranked each suburb across several criteria, which included:

  • Amenities (shopping, dining, entertainment, etc.)
  • Cost of living (percent above or below national average)
  • Crime (percent above or below national average)
  • Education (student-to-teacher ratio compared to national average)
  • Employment (income and unemployment compared to national average)

Once we had that information — from sources including the Census and Bureau of Labor Statistics — we were able to see how each city did in the individual criteria — on a scale of 1 to 75, with 1 being best — and also on average to give them an overall score.

 

 

 

http://realestate.msn.com/10-best-suburbs-2013

 

 

 

 

Pending Home Sales Continue To Tumble | Bedford Hills Real Estate

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Pending home sales fell 0.6% month-over-month in October. This was worse than expectations for a 1% rise.

Meanwhile, pending home sales were down 2.2% on the year, worse than expectations for a 1.1% fall.

Last month’s number was revised up to show a 4.6% fall, compared to an initial reading of a 5.6% monthly fall.

Year-over-year the index was revised up to show a 2% rise, compared with an initial reading of a 1.1% rise.

“The government shutdown in the first half of last month sidelined some potential buyers,” Lawrence Yun, NAR chief economist said in a press release.  “In a survey, 17 percent of Realtors reported delays in October, mostly from waiting for IRS income verification for mortgage approval.”

Limited inventory and declining affordability can continue to weigh on the index. Yun thinks the housing recovery is still at a healthy pace and attributes the decline in pending home sales to a cooling down of run up we had seen in housing recently.

Here’s a look at the regional breakdown:

  • In the Northeast, the pending home sales index (PHSI) up 2.8% on the month, and is up 8.1% from a year ago.
  • In the Midwest, the index is up 1.2% on the month and up 3.2% from a year ago.
  • In the South, the index fell 0.8% on the month, and is down 1.5% from a year ago.
  • In the West, it is down 4.1% on the month and 12.1% from a year ago.

Pending home sales have been falling for some time now and the index is considered to be a leading indicator for future existing home sales. The Commerce Department expects that 80% of signings will become existing home sales transactions within two months.

 

 

http://finance.yahoo.com/news/comes-pending-home-sales-144016650.html

Bedford Hills NY Real Estate Weekly Report | #RobReportBlog

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Bedford   Hills NY Weekly Real Estate Report11/22/2013
Homes for sale32
Median Ask Price$847,000.00
Low Price$289,000.00
High Price$10,995,000.00
Average Size4028
Average Price/foot$419.00
Average DOM151
Average Ask Price$1,733,887.00