Tag Archives: bedford ny homes for sale

Jumbo mortgages fill in lending gap | Bedford NY Real Estate

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Mortgage credit availability remains on the upward trajectory that it has been on since November 2013, a trade industry group said.

According to the Mortgage Bankers Association, the mortgage credit availability index increased .44% from 113.5 in February to 114 in March.

The index was benchmarked to 100 in March 2012, and if the MCAI was tracked in 2007, it would have been at a level of roughly 800.

“Consistent with past months, many lenders and investors are providing borrowers seeking higher loan amounts with a broader range of financing options by introducing new jumbo loan programs,” said Mike Fratantoni, MBA’s chief economist.

This trend in jumbo mortgages follows the recent mortgage application reports from the trade group, which show a growth in purchase volume for applications with higher loan amounts and contraction in home purchase application volume for lower-balance loans.

According to the most recent survey, the average contract interest rate for 30-year, fixed-rate mortgages with jumbo loan balances increased to 4.46% from 4.45%.

“Over the month, some lenders made a complete exit from wholesale lending operations, while other lenders moved to enter that space or expanded operations,” Fratantoni said.

 

 

http://www.housingwire.com/articles/29603-jumbo-mortgages-fill-in-lending-gap

Westchester’s Only Great Blue Heron Rookery In Bedford, Nature Group Say | Bedford Real Estate

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A colony of great blue heron has made Bedford its home for the season in a remote, yet visible wooded area that Naturalist Tait Johansson says is the only place in all of Westchester that you will find the large birds.Photo AlbumGreat Blue Herons Nest, Breed, Incubate In Bedford

There are about 20 blue herons nests at a rookery – or colony of breeding animals – on Route 121 just past the intersection with Route 137.

Some of the birds could still be seen this week building nests high up in the barren trees, flanked by a swampy surface with dead trees. The tall bird with an S-shaped neck and long legs usually settles near water or in a marsh and preys on fish, frogs, mice and even other birds.

“This rookery started two years ago,” said Johansson, who works at the Bedford Audobon Society in Katonah. “It’s something interesting. A lot of people have called here asking about it.”

The Katonah resident and lifelong bird admirer said not all of them have migrated back north to the Bedford rookery. He said the birds you see now are adults, who will breed and then incubate their eggs in the nest for about a month – he added that they’re not as interesting to observe while incubating since they mostly stay in the nest.

 

http://bedford.dailyvoice.com/lifestyle/westchesters-only-great-blue-heron-rookery-bedford-nature-group-say

Should I Use a Mortgage Broker or a Bank? | Bedford Real Estate

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This week’s reader question is about who to approach when you’re looking for mortgage money. Here it is:

I am going through the mortgage process the second time. The first mortgage was for a very low amount, so I didn’t really learn much about the process. My question is what is the difference between using a mortgage broker and a bank to secure financing? What are the advantages and disadvantages of both? – John

Before we get to John’s answer, check out a video I did a couple of years ago about mortgage shopping.

Now let’s get to John’s answer, starting with what the term “broker” means and what they do.

What brokers do

Whether you’re talking real estate broker, stockbroker, insurance broker, mortgage broker or pawnbroker, they all have one thing in common: They’re middlemen who get paid to facilitate a transaction.

Logic would suggest that leaving out the middleman and dealing directly would allow for a less expensive transaction. But if brokers didn’t routinely save more than enough to offset their expense, they wouldn’t exist.

Stockbrokers have relationships with several exchanges, so they can get you the best price when you buy or sell stocks. Insurance brokers have relationships with multiple insurance companies, so they can get you the best price when you buy insurance.

http://finance.yahoo.com/news/ask-stacy-mortgage-broker-bank-150040816.html

The Best Real Estate Markets 2013 | Bedford NY Real Estate

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When considering which real estate markets are the best, it is wise to look at home sales among other aspects as this number often reveals a thriving real estate market. Below is a list of the top 25 real estate markets in America today from the least to the greatest:

 

Oklahoma City, Oklahoma:

According to trulia.com, the median sales price for homes in Oklahoma City from April 13th to June 13th was $126,000. This represents an increase of 0.8 percent compared to the prior year. The average price per square foot was listed as $83, which is a 6.4 percent increase from the same period last year. Popular neighborhoods in Oklahoma City include Gatewood UCD, Woodland Park, Shepherd Historic District, the Greens, Cleveland UCD and Quail Creek. According to moneyjournal.com, the 2013 real estate market in Oklahoma City is forecasted to grow 4.3 percent.

Omaha, Nebraska:

According to trulia.com, the median sales price for homes in Omaha was $150,000. This is an increase of 5.6 percent compared to the previous year. The price per square foot for Omaha homes increased 13.7 percent from the previous year and is currently averaging $116 per square foot. Moneyjournal.com predicts an increase in the market of 4.5 percent in the year 2013.

El Paso, Texas:

The median home price in El Paso, Texas, increased 8.8 percent compared to the same period the previous year. The average list price for a home in El Paso is $194,499. The moneyjournal.com predicts a 5.3 percent growth in the El Paso’s real estate market in 2013.

 

http://www.housingpredictor.com/the-best-real-estate-markets-2013/

Warnings about ban on dual agency in FHA short sales can be safely ignored | Bedford Real Estate

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Some servicers, including Bank of America, have been telling some Realtors that dual agency is not allowed in FHA short sales, but that is not correct, the National Association of Realtors warned today.

The U.S. Department of Housing and Urban Development (HUD), of which FHA is a part, issued a letter to mortgage servicers in July outlining a number of new anti-fraud requirements for short sales and deeds-in-lieu of foreclosure, including a policy that ”brokers and their agents may only represent the buyer or the seller, but not both parties.”

The policy was to take effect on Oct. 1, but in September, HUD postponed the policy after receiving a letter from NAR saying the ban on dual agency could make it harder for the government to get top dollar on short sales if some brokerages decided not to represent sellers in FHA short sales because they would not want to restrict their agents from representing buyers of those properties.

– See more at: http://www.inman.com/wire/nar-warns-members-not-to-heed-claims-of-ban-on-dual-agency-in-fha-short-sales/?utm_source=20140317&utm_medium=email&utm_campaign=dailyheadlinesam#sthash.PyrAk6d2.dpuf

Restaurateur Michael White takes over at Bedford Post Inn | Bedford Real Estate

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Amid reports of a split between Richard Gere and Carey Lowell, the restaurants at the Bedford Post Inn are changing hands. Chef Michael White, owner of Altamarea Restaurant Group, has signed a long term lease for the Bedford restaurant, previously operated by the famous couple.

Altamarea will operate all of the food and beverage operations at the Bedford Post Inn, including the Barn, the private events space, the outside grill terrace and the flagship restaurant, the Farmhouse, which will be renamed “Campagna.” The chef de cuisine will be  Devin Boyzaka, who was sous chef at The Inn at Little Washington. Richard Gere and Russell Hernandez will continue to own the inn, which has eight suites.

According to the Altamarea Grou, Campagna will serve its well-known upscale Italian cuisine, that features plenty of seasonal dishes to reflect the restaurant’s location in the Lower Hudson Valley and its abundant local produce. Other restaurants in the Altamarea group include Marea, Osteria Morni, Ai Fiori, all in Manhattan, and restaurants in New Jersey and London.

In 2007, Richard Gere and Carey Lowell brought the 1700’s era farmhouse property back to life as a gourmet destination in a country setting. Recent reports of the couple’s split are not officially confirmed.

http://food.lohudblogs.com/2014/03/04/richard-gere-turns-restaurants-bedford-post-inn/

US home prices rose at solid pace in January | Bedford Real Estate

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U.S. home prices rose in January after three months of declines as a tight supply of properties likely supported prices despite slower sales.

Real estate data provider CoreLogic said Tuesday that prices rose 0.9 percent in January after dipping 0.1 percent in December. Over the past 12 months, home prices have risen 12 percent, the biggest year-over-year gain in more than eight years.

Such outsize price gains might not continue much longer, however. Paul Diggle, an economist at Capital Economics, notes that January’s price gains reflect conditions several months ago, when buyers first made offers. The supply of available homes was smaller than it is now, and it helped lift prices. The sales were completed in January.

Since then, more homes have come on the market while sales have slowed. That trend has modestly boosted the supply of homes and “points to a slowdown in price gains later this year,” Diggle said.

Diggle, like most other economists, foresees year-over-year price gains of below 10 percent in the coming months.

 

http://finance.yahoo.com/news/us-home-prices-rose-solid-pace-january-133450485–finance.html