Tag Archives: Bedford NY Luxury Homes

CoreLogic Projects January Prices up 10.2 Percent | Bedford NY Real Estate

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Prices in the new year will pick up almost where last year left off, registering a 10.2 percent increase in January over a year ago according to CoreLogic.   However, the double digit increase is a slight decline from December’s 11 percent.  Is it a sign of softer prices to come?

Rising foreclosure and short sale prices helped December record the 22nd consecutive monthly year-over-year increase in home prices nationally, according to CoreLogic’s December CoreLogic Home Price Index (HPI®) report.

The CoreLogic Pending HPI indicates that January 2014 home prices, including distressed sales, are projected to increase 10.2 percent year over year from January 2013. On a month-over-month basis, home prices are expected to dip 0.8 percent from December 2013 to January 2014.  Excluding distressed sales, home prices increased 9.9 percent in December 2013 compared to December 2012 and 0.2 percent month over month compared to November 2013. Distressed sales include short sales and real estate owned (REO) transactions.

Excluding distressed sales, January 2014 home prices are poised to rise 9.7 percent year over year from January 2013 and 0.2 percent month over month from December 2013. The CoreLogic Pending HPI is a proprietary and exclusive metric that provides the most current indication of trends in home prices. It is based on Multiple Listing Service (MLS) data that measures price changes for the most recent month.

“Last year, home prices rose 11 percent, the highest rate of annual increase since 2005, and ten states and the District of Columbia reached new all-time price peaks,” said Dr. Mark Fleming, chief economist for CoreLogic. “We expect the rising prices to attract more sellers, unlocking this pent-up supply, which will have a moderating effect on prices in 2014.”

 

 

 

http://www.realestateeconomywatch.com/2014/02/corelogic-projects-january-prices-up-10-2-percent/

 

Mortgage rates plummet following stock market plunge | Bedford NY Real Estate

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Mortgage rates fell to lows not seen since November, in response to yesterday’s stock market plunge. As the S&P 500 got shellacked, mortgage rates fell about 0.06 percent yesterday, and the most highly-qualified borrowers could be looking at 30-year fixed mortgage rates of 4.25 percent.

The average 30-year fixed mortgage rate, however, is still at about 4.375 percent, according to Mortgage News Daily. The monthly U.S. employment situation report, which is due Friday, will also have a big influence on rates , according to the website.

 

http://therealdeal.com/blog/2014/02/04/mortgage-rates-plummet-following-stock-market-plunge/

 

Pending $100M sale would be record for NYC townhouse | Bedford NY Real Estate

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When the $100 million contract on a 41-foot-wide, 20,500-square-foot mansion on Manhattan’s Upper East Side closes in April, New York City will have a new price record for a townhouse sale. Purchased by the Qatar government to house its New York City consulate, the building, located a block east of Central Park, had never changed hands before, according to the jet-setting agent brothers Oren and Tal Alexander of Douglas Elliman, who are ushering the deal to completion.

The townhouse’s pristine upkeep and “turnkey” status helped secure the record contract, the Alexander brothers told the New York Post.“Qatar plans to use the consulate as a place to showcase their own artists,” an unnamed source told the Post.

 

Source: New York Post – See more at: http://www.inman.com/wire/100m-pending-nyc-townhouse-sale-scrapes-the-8-figure-ceiling/?utm_source=20140131&utm_medium=email&utm_campaign=dailyheadlinesam#sthash.4UEsKAyh.dpuf

Higher rates loom for some modified mortgages | Bedford NY Real Estate

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Almost 800,000 homeowners will see mortgage payments rise about $200 a month in the next few years as the benefits of their government loan modifications ease, a new government report says.

The first higher payments will hit more than 30,000 homeowners this year. They received the initial mortgage modifications in 2009 under the government’s Home Affordable Modification Program (HAMP), says the report from the office of the Special Inspector General of the Troubled Asset Relief Program (SIGTARP).

The modifications were intended to help homeowners avoid foreclosure as housing prices sank and unemployment soared. About 95% of HAMP modifications included cuts to interest rates, some to as low as 2%, SIGTARP says.

But the “permanent” modifications only last five years, after which interest rates can  reset no more than 1 percentage point per year until they get back to the prevailing rate for a 30-year fixed rate loan at the time of the modification.

Between now and 2021, 782,748 HAMP homeowners will get increases, SIGTARP says, including almost 300,000 next year.

The increased costs “could be a problem for some people,” says Keith Gumbinger, mortgage expert with HSH.com.

 

http://www.usatoday.com/story/money/business/2014/01/29/rate-increases-for-hamp-loan-modifications-2009/4964701/

Westchester’s Astorino Says He’s ‘Leaning Toward’ Running For Governor | Bedford NY Real Estate

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Westchester County Executive Robert Astorino still hasn’t made a firm decision about running for Governor this year, but made a strong indication that he would during a radio interview on Wednesday, Jan. 14, according to the Democrat and Chronicle.

During the interview, Astorino divulged that he is “leaning toward” challenging Gov. Andrew Cuomo. This marks a change from last week, when the county executive claimed he was “50/50” on a gubernatorial run, the Democrat and Chronicle reported.

Click here to read the full article.

Getting into real estate for the wrong reasons? | Bedford NY Real Estate

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The top 10 reasons to get out of the real estate business line up with the top 10 reasons to get out of any business:

  1. I am in it for the money. If you are in the real estate business because you think/know that a lot of money can be made, you are in the wrong business. Yes, it is true, a lot of money can be made, but not without the sincere professional efforts of a dedicated agent.
  2. I can make my own schedule. Yes, this is true. In real estate you can make your own schedule, but if you think you don’t need a schedule that you keep to, you are in the wrong business.
  3. It is easy work. Yeah, right! Any profession that demands as varied and deep an understanding of various types of information as real estate does is never “easy.”
  4. I am a “people person.” If you like people you just might not want to be in the real estate business. As an agent, you are directly in line for abuse when things go wrong. It is your fault and they are going to tell everyone.
  5. People like me. Well, read Nos. 4 and 3. It is guaranteed that people will not like you when you don’t give them exactly what they want, when they want it. Don’t get into this business because people like you — they won’t.
  6. I have been hired onto a good team. While surrounding yourself with like-minded professionals working at the top of their game is crucial to success, it does not dictate your personal success. You need to develop your own skills and abilities. This is your work, not theirs.
  7. I am good at marketing. We all know that marketing is crucial for a successful real estate business. Internet marketing is even more important, but if this is your only skill you will be whistling down a lonely path.
  8. I was hired by the top agency. Well, every agency says it is the top agency. Every agency has statistics that show how it is at the top of this or that. It is never about the agency — it is always about the professional.
  9. I am a hard worker. This is not everyone’s mantra, but there are agents who come into the business with a hard-working attitude. While this is important, it is more about working smart and consistently than working hard.
  10. My manager has promised to train me. Your manager’s job is to get you in the door and producing. Once you are in the door and doing some of the things you are supposed to do, the manager is off recruiting and promising to train the next recruit. Being a professional is about your goals, focus and consistent efforts. Without that, you are just another warm body paying rent to your office.

The real reason to be a real estate agent is because you love what you do. You are willing to put the time, effort and energy into constantly getting better, smarter and more knowledgable. There are far more downs than ups in real estate at the beginning. While it may not be easier, I can think of nothing I would rather do in my life.

– See more at: http://www.inman.com/next/getting-into-real-estate-for-the-wrong-reasons-dont-do-it-because-youre-a-people-person/?utm_source=20140114&utm_medium=email&utm_campaign=dailyheadlinesam#sthash.I7YDPNaK.dpuf