Tag Archives: Cross River Luxury Real Estate

Rotterdam to consider trialling plastic roads | Cross River Real Estate

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Dutch city could be first to pave its streets with recycled plastic bottles, a surface claimed to be greener, quicker to lay and more reliable than asphalt

Plans unveiled for recycled plastic roads are being considered by Rotterdam city council.
Plans unveiled for recycled plastic roads are being considered by Rotterdam city council. 

 

The Netherlands could become the first country to pave its streetswith plastic bottles after Rotterdam city council said it was considering piloting a new type of road surface touted by its creators as a greener alternative to asphalt.

The construction firm VolkerWessels unveiled plans on Friday for a surface made entirely from recycled plastic, which it said required less maintenance than asphalt and could withstand greater extremes of temperature– between -40C and 80C. Roads could be laid in a matter of weeks rather than months and last about three times as long, it claimed.

The company said the environmental argument was also strong as asphalt is responsible for 1.6m tons of CO2 emissions a year globally – 2% of all road transport emissions.

Rolf Mars, the director of VolkerWessels’ roads subdivision, KWS Infra, said: “Plastic offers all kinds of advantages compared to current road construction, both in laying the roads and maintenance.”

The plastic roads are lighter, reducing the load on the ground, and hollow, making it easier to install cables and utility pipelines below the surface.

Sections can be prefabricated in a factory and transported to where they are needed, reducing on-site construction, while the shorter construction time and low maintenance will mean less congestion caused by roadworks. Lighter materials can also be transported more efficiently.

Mars said the PlasticRoad project was still at the conceptual stage, but the company hopes to be able to put down the first fully recycled thoroughfare within three years. Rotterdam, a keen supporter of sustainable technology, has already signalled its interest in running a trial.

Jaap Peters, from the city council’s engineering bureau, said: “We’re very positive towards the developments around PlasticRoad. Rotterdam is a city that is open to experiments and innovative adaptations in practice. We have a ‘street lab’ available where innovations like this can be tested.”

 

http://www.theguardian.com/world/2015/jul/10/rotterdam-plastic-roads-trial-netherlands

Mortgage Rates at 4% | Cross River Real Estate

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Freddia Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates moving lower from the previous week’s new highs for 2015 while housing data was generally positive.

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 4.00 percent with an average 0.7 point for the week ending June 18, 2015, down from last week when it averaged 4.04 percent. A year ago at this time, the 30-year FRM averaged 4.17 percent.
  • 15-year FRM this week averaged 3.23 percent with an average 0.5 point, down from last week when it averaged 3.25 percent. A year ago at this time, the 15-year FRM averaged 3.30 percent.
  • 1-year Treasury-indexed ARM averaged 2.53 percent this week with an average 0.2 point, unchanged from last week. At this time last year, the 1-year ARM averaged 2.41 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 theRegional and National Mortgage Rate Details and Definitions. Borrowers may still pay closing costs which are not included in the survey.

Quotes
Attributed to Len Kiefer, deputy chief economist, Freddie Mac.

“Mortgage rates were down this week while housing data were generally positive. Although housing starts dropped 11.1 percent to a seasonally adjusted pace of 1.04 million units in May, housing permits surged 11.8 percent to its highest level since August 2007. Reinforcing this positive momentum, the NAHB housing market index rose 5 points in June, suggesting home builders are very optimistic about home sales in the near future.”

Housing Recovery – Prices and Production | Cross River Real Estate

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The Federal Housing Finance Agency (FHFA) and the Standard and Poor’s/Case-Shiller recently released the Home Price Index (HPI) for March.

The price index reported by the Federal Housing Finance Agency (FHFA) decelerated in March, slowing to an annualized growth rate of 4.2% from 7.8% in February. Monthly growth rates have been volatile but have trended down since the recent peak in 2013. The level of the index remains below the housing boom peak but has recovered to a level consistent with trend growth prior to the boom and bust extremes.

Figure 1_March

House prices reported by the Standard and Poor’s/Case-Shiller show the same dynamics as the FHFA index, sharply rising prices during the boom followed by steep declines and finally recovery beginning in 2012. The Case-Shiller index also shows volatile monthly growth rates and a deceleration in price growth since 2013.

 

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http://eyeonhousing.org/2015/06/housing-recovery-prices-and-production/

Mortgage rates move higher for third week in a row | Cross River Real Estate

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Average fixed mortgage rates followed 10-year Treasury yields higher and rose for the third consecutive week, according to Freddie Mac.

At 3.85%, the average 30-year fixed-rate mortgage is just below the high for 2015.

“Mortgage rates rose for the third consecutive week as 10-year Treasury yields continued to climb,” said Len Kiefer, deputy chief economist for Freddie Mac.

“The labor market continues to improve with U.S. economy adding 223,000 jobs in April, a solid rebound from merely 85,000 job gains in March. Also, the unemployment rate dipped to 5.4% in April as the participation rate ticked up to 62.8% and jobless claims were far less than expected.”

The 30-year fixed-rate mortgage averaged 3.85% with an average 0.6 point for the week ending May 14, 2015, up from last week when it averaged 3.80%. A year ago at this time, the 30-year FRM averaged 4.20%.

The 15-year FRM this week averaged 3.07% with an average 0.6 point, up from last week when it averaged 3.02%. A year ago at this time, the 15-year FRM averaged 3.29%.

The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.89% this week with an average 0.5 point, down from last week when it averaged 2.90%. A year ago, the 5-year ARM averaged 3.01%.

The 1-year Treasury-indexed ARM averaged 2.48% this week with an average 0.4 point, up from last week when it averaged 2.46%. At this time last year, the 1-year ARM averaged 2.43%.

 

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http://www.housingwire.com/articles/33891-mortgage-rates-move-higher-for-third-week-in-a-row

 

Home Prices in 20 U.S. Cities Increase at Faster Pace | Cross River Homes

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Home prices in 20 U.S. cities climbed at a faster pace than forecast in the year ended February, a sign the housing industry may be gaining momentum amid low borrowing costs and continued job growth.

The S&P/Case-Shiller index of property values increased 5 percent from February 2014, the biggest year-to-year gain since August, after rising 4.5 percent in the year ended in January, the group said today in New York. The median projection of 28 economists surveyed by Bloomberg called for a 4.7 percent year-over-year advance. Nationally, prices rose 4.2 percent.

Higher real estate prices may persuade more homeowners to put their properties on the market, boosting the limited inventory that’s been holding some prospective buyers back. More supply, in addition to continued gains in the labor market and looser lending standards, will be needed to help the housing market accelerate after showing inconsistent progress.

 

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http://www.bloomberg.com/news/articles/2015-04-28/home-prices-in-20-u-s-cities-rose-at-faster-pace-in-february

 

Mortgage Rates Lower | Cross River Real Estate

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Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates moving lower following a weaker than expected jobs report for March.

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 3.66 percent with an average 0.6 point for the week ending April 9, 2015, down from last week when it averaged 3.70 percent. A year ago at this time, the 30-year FRM averaged 4.34 percent.
  • 15-year FRM this week averaged 2.93 percent with an average 0.6 point, down from last week when it averaged 2.98 percent. A year ago at this time, the 15-year FRM averaged 3.38 percent.
  • 1-year Treasury-indexed ARM averaged 2.46 percent this week with an average 0.4 point, unchanged from last week. At this time last year, the 1-year ARM averaged 2.41 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 theRegional and National Mortgage Rate Details and Definitions. Borrowers may still pay closing costs which are not included in the survey.

Quotes
Attributed to Len Kiefer, deputy chief economist, Freddie Mac.

“Mortgage rates fell across the board following last week’s disappointing employment report. The US economy added 126,000 new jobs in March, well below market expectations of 247,000 jobs. We did see some uptick in wages, as average hourly earnings increased 7 cents for the month, and are up 2.1 percent over the year. Meanwhile, jobless claims fell sharply to 268,000 this week, much lower than market expectations of 285,000.”

Buy an Abandoned Key West School | Cross River Real Estate

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Key West’s Jeptha Vinning Harris School was “built as one of the first schools in Florida” in 1905. It was dedicated in 1909, and served as Key West’s elementary school until the last class graduated in 1986 (it also served as a high school until 1915, when another school was built). Then it was “used as the district’s alternative school site and as an office for various social service and government offices”, although in reality it was mostly abandoned. A developer bought it from the school board in 2009 for $4.25 million, and apparently did little with it, and now the old school, which, although the listing photos don’t include any interiors, appears hardly changed over the years, is back on the market for$12.5 million. Listed on the National Register of Historic Places, both floors have original 14 foot ceilings, lots of wood, and grand staircases.

 

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http://miami.curbed.com/archives/2015/03/10/abandoned-key-west-school-listed-for-125-million.php

Single-Family and Multifamily Construction Spending Continue to Increase | Cross River Real Estate

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NAHB analysis of Census construction spending data found that on a 3-month moving average basis, from January 2014, single-family construction spending increased 11.4% and multifamily construction spending increased 28.9%. The seasonally adjusted annual spending for single-family construction was $204.9 billion and $48.9 billion for multifamily construction.

ChartThe1

Single-family and multifamily construction spending both experienced monthly increases over December estimates. Single-family spending increased 0.6% month-over-month. Multifamily spending increased 1.9% month-over-month.

Increased construction spending is a reflection of improving market conditions. Builder sentiment in the multifamily market remains positive as rents remain high and vacancy rates low.   Builder sentiment in the single-family market is also positive as new home sales increase and the labor market improves.

 

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http://eyeonhousing.org/2015/03/

Exploring New York City’s Irresistibly Eerie Abandoned Places | Cross River Real Estate

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Abandoned%20NYC_Will%20Ellis_Curbed-7.jpg[Harlem’s P.S. 186 in 2012. It has been abandoned for nearly four decades, but there areplans to turn it into affordable housing. All photos by Will Ellis.]

Photographer Will Ellis made a name for himself capturing New York’s amazing decrepit spaces on his blog Abandoned NYC, and now his work is the subject of a new book, out this week. The book features 16 derelict locations (mostly) within city limits, including brand new photos of five locations never released online (hello, sunken Coney Island submarine). Ellis’s love of abandoned buildings is as deeply tied to a curiosity for the ghoulish as it is to an intense connection with the history behind New York City’s many stories. His blog covers NYC abandonments more extensively and prosaically than nearly any other print or online source, and his photos capture the beauty of what many shrug off as eyesores and urban blight. Ellis talked with Curbed contributor Hannah Frishberg about the book and shared 18 photos of a few of his favorite sites.

How did you get into urban exploration?

It wasn’t something that I set out to do at all, I was just out one day with my camera in Red Hook, just kind of looking around, looking for inspiration, and I came across this huge warehouse, 160 Imlay Street [ed. note: This building is now being converted into condos]. I’ve always been drawn to creepy stuff: ghosts, monsters, stuff like that. Halloween was my favorite holiday growing up. So that’s kind of what drew me to it, initially. I was also reading a lot of these old gothic fiction and horror stories at the time, H.P. Lovecraft and stuff like that. A lot of those stories are about creating that sense of atmosphere, and more often than not they’re set in these decrepit estates. So I was able to find those places I was drawn to in these books, but to find them in real life, in my own backyard. I still don’t think of myself as a daredevil. I never used to break the law much, I played by the rules. I’m scared of heights. But I saw you could just walk into the building, and I went for it that day. From that point on, I was hooked. That sensation of discovery, the thrill and adrenaline of it. Especially in the first two months I was doing this. For several months I was going out every chance I got. I’ve slowed down a bit since then.

 

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http://ny.curbed.com/archives/2015/01/29/exploring_new_york_citys_irresistibly_eerie_abandoned_places.php

Renting Now Half as Affordable as Buying | Cross River Homes

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As rent soars across the US, Zillow found that renting a home is half as affordable as buying one. In the third quarter of 2014, U.S. renters could expect to spend about 30 percent of their incomes on rent, while those buying homes could expect to spend just 15 percent of their monthly incomes on their mortgage payment.

The report reveals a big shift from the years before the real estate bubble, between 1985 and 2000, when rent was typically more affordable in major metros than buying.  Now, in most metros, those who can come up with a down payment are better off buying, in terms of affordability.

Even in the least affordable metros — like San Francisco, Los Angeles, Seattle and Boston — renting was a more affordable option before the real estate market crash. But since then, rent has increased while the cost of buying a home has fallen in many places, so that renting is now the less affordable option — sometimes by a large margin.

Younger buyers making smaller down payments spend slightly more than other buyers on mortgage payments — a median of 17 percent of their incomes — but buying is still more affordable for them on a monthly basis.

“Despite rising home values, homeownership remains very accessible for buyers that can scrape together a down payment — even a relatively modest one — find a home to buy and secure financing,” said Zillow Chief Economist Dr. Stan Humphries.

Humphries has said he expects 2015 to be a breakthrough year for younger buyers to enter the market, and many of those buyers will decide to buy because rent is so unaffordable. At the same time, some renters are spending so much on rent they will struggle to save for a down payment, even if they want to buy.

 

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http://www.zillow.com/blog/rent-half-as-affordable-as-buy-165842/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+ZillowBlog+%28Zillow+Blog%29