Tag Archives: Cross River NY Real Estate

Mortgage Loan Rates Drop to 18-Month Low | Cross River Real Estate

 

The Mortgage Bankers Association (MBA) released its weekly report on mortgage applications Wednesday morning, noting a decrease of 3.3% in the group’s seasonally adjusted composite index for the week ending December 12. That followed a rise of 7.3% for the previous week. Mortgage loan rates fell on all loan types during the week.

On an unadjusted basis, the composite index decreased by 4% week-over-week. The seasonally adjusted purchase index decreased 7% compared to the week ended December 5. The unadjusted purchase index fell by 10% for the week and remains 5% lower year-over-year.

Adjustable rate mortgage loans accounted for 6.2% of all applications, down from 7.0% in the prior week.

The MBA’s refinance index rose from 60% in the prior week to 64%, and the market share for adjustable rate mortgage loan applications dropped to 6.2%.

The average mortgage loan rate for a conforming 30-year fixed-rate mortgage decreased from 4.11 to 4.06%, the lowest since May 2013. The rate for a jumbo 30-year fixed-rate mortgage decreased from 4.07% to 3.99%. The average interest rate for a 15-year fixed-rate mortgage decreased from 3.35% to 3.33%.

 

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http://finance.yahoo.com/news/mortgage-loan-rates-drop-18-122553203.html

 

New home sales squeak out weak gain in October | Cross River Real Estate

Sales of new homes in the United States printed at an annual rate of 458,000 for the month of October, up 0.7% from September.

This tepid gain was saved from being a decline by a surprising jump in sales in the Midwest, which saw 15.8% gains, and better than usual gains in the northeast of 7.7% month-over-month.

“The slight rise in new home sales in October is somewhat disappointing, as it is more of the same of what we’ve seen throughout 2014 – tepid growth in housing constrained by a slowly recovering economy,” said Quicken Loans vice president Bill Banfield.

October’s gain is 1.8% above the October 2013 estimate of 450,000.

But that month-over-month gain was only achieved because September’s new home sales figure was dramatically revised downward from 467,000 to 453,000.

Dragging down new home sales was the West and South, which saw a -2.7% decline and -1.9% decline, respectively.

The imbalance there is due to the fact that the West and the South are vastly larger housing markets compared to the Midwest and Northeast.

The median sales price of new houses sold in October 2014 was $305,000, while the average sales price was $401,100.

The seasonally adjusted estimate of new houses for sale at the end of October was 212,000. This represents a supply of 5.6 months at the current sales rate.

 

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http://www.housingwire.com/articles/32183-new-home-sales-squeak-out-weak-gain-in-october

 

Teatown Lake Reservation | Cross River Real Estate

November 25, 2014                                                          Like us on Facebook Follow us on Twitter Find us on Pinterest  View our videos on YouTubenull
PROGRAMS:
Advanced Registration is required for all programs. Unless noted, all programs meet in the Nature Center and are $7 per person or FREE for members. Please register by calling (914) 762-2912 ext. 110. 
Preparing for Winter
Saturday, November 29
1 pm – 2:30 pm
How do wildlife prepare for winter? Who migrates? Who hibernates? Who is active throughout the season? Join us for this animal program where we will answer these questions, meet a couple of Teatown’s animal ambassadors, take a short walk outside, and make a craft to take home.

After the Turkey Hike
Member’s Only
Sunday, November 30
10 am – 12 pm
It’s time to hike off those extra pounds gained from the Thanksgiving feast. The Overlook Trail will give us a good workout and some views too! Moderate hike with some steep sections. Wear hiking boots, bring water and a snack.
Visit Teatown
Teatown Discovers 

a Cure


Are you ready for 
GivingTuesday?

________

Holiday Birthday 

Party Special

Book a party and invite a friend to book a party and each save $25 on the booking fee. Parties may be scheduled for any date but must be booked before December 15.

Please call 914-762-2912, 110 to book your party.

 


Shopping on Amazon this

holiday season?

Your purchases can

help Teatown!

Click here for info.

 

APellegrino

1600 Spring Valley Road
Ossining, NY 10562
914-762-2912

 

Teatown Lake Reservation’s
mission is to inspire our community to lifelong environmental stewardship.
Nature Center hours:
9 am – 5 pm daily
Trails are open 365 days a year from dawn to dusk.
Click here for Teatown membership benefits, details,
and to purchase or renew
your membership online.

Your donation can make

an immediate impact and help

support our environmental education programs and the stewardship of our 1,000 acre preserve.

Upcoming Events and Workshops:

Island in the River – Hike with Club Fit
Saturday, December 6
10 am – 2 pm
Join us for a pleasant stroll through Croton Point Park a picturesque riverside park that’s almost an island in the Hudson River.
Hike Length is 4 miles / 3 hours. Rain cancels. Bring lunch and a warm drink. Comfortable shoes a must! Meet in the Club Fit – Jefferson Valley parking lot located on Bank Road at 10am or at Croton Point Park at 10:30 am.

Feathers, Scales & Fur
Sunday, December 7
10 am – 11:30 am
December is upon us and animals have a strategy to make it through the winter. How does an animal’s wardrobe determine

what it does when the weather turns cold?
Join us to find out!
In the Nature Center Gallery:

 

Ceramic Plates & Sculpture 

by Barbara Krohn


On exhibit November & December 2014

Ms. Krohn and her family have long standing connections to Teatown and we are very pleased to be hosting an exhibit of her recent works.

 

Click here for more info.

Teatown Highlight:

Holi-daze Mini-Camp
The holidays are coming: when school is out and nature is in! Come for a day, or two or more of fun in the outdoors. There will be hiking, crafts, and enough adventure to keep your child  busy and active throughout the holiday season.

Holiday Toy Drive 

 

Teatown is helping Open Door Family Medical Centers collect new toys for children from families of less fortunate means this holiday season. Please donate new, unwrapped toys for their young patients ages newborn to 14 years old. Every toy counts!

 

Please bring your new, unwrapped toys for children newborn to 14 years old to Teatown’s Nature Center between November 22 and December 10. Suggested Value:  $10 – $20
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Mortgage volume stalls with rates | Cross River Real Estate

 

Mortgage rates-and applications-barely moved last week.

Total application volume fell 0.9 percent from the previous week on a seasonally adjusted basis, according to the Mortgage Bankers Association.

Applications to refinance, which saw a brief surge on lower rates in October and then a precipitous drop when rates rose again this month, fell 2 percent from the previous week. Mortgage applications to purchase a home rose 1 percent from the previous week but are still 11 percent below year-ago levels.

A bright spot in the mortgage market today appears to be for veterans. Loans guaranteed by the Department of Veterans Affairs rose to 11 percent of total applications. Usually loans backed by the government mortgage insurer, the FHA, are more popular, but its share came in at 9.6 percent last week. Higher fees and insurance premiums have kept many borrowers away from even this low down-payment loan option.

VA loans require no down payment in most cases, and do not require mortgage insurance. This may be why they’ve gained popularity as home prices continue to rise.

“Apropos of Veteran’s Day, the VA share of the market reached a new high,” said Michael Fratantoni, chief economist for the Mortgage Bankers Association. “VA’s share has exceeded FHA’s share of loan applications for the last three weeks.”

 

read more…

 

http://finance.yahoo.com/news/mortgage-volume-stalls-rates-130008561.html

DIY Spirit Reinvents an Industrial Home | Cross River Real Estate

 

After living for six years in his downtown Edmonton loft, in the Canadian province of Alberta, this homeowner was ready for a change. He liked the industrial nature of the space — soaring ceilings, raw redbrick walls, exposed ducting and conduit — but didn’t like its low-grade cabinetry. Plus, he was flat-out tired of his furniture.While he didn’t mind getting his hands dirty doing some of the work of refreshing the space, he knew he needed professional help when it came to the layout and choosing colors and furniture styles. He found designer Brenda Brix of AMR Design while searching for local professionals on Houzz and enlisted her help through a design consultation. She wrote up a detailed plan, and he implemented it himself, finding materials and furnishings and even teaching himself how to build and modify pieces.

For example, he bought mirror tiles and antiqued them. He took a basic pine cabinet from Ikea and distressed it. He even located his own stainless steel and installed it himself as a backsplash. “I wanted to add personal touches and cool things that people would come in and we could talk about them for five minutes,” he says.

Houses groan, creak, and pop on a regular basis | Cross River Real Estate

Homes make strange noises. They’re built from many different materials — glass, concrete, wood — that expand and contract at different rates.

“[But] the most noise your house should make is a popping sound, like your knuckles cracking, and only once in a while,” said Bill Richardson, former president of the American Society of Home Inspectors and owner of Responsive Inspections in Bosque Farms, N.M.

If your home is making noises that rival the best of Metallica, then it may be sending you signals that there’s a problem. We asked the experts to catalogue some of the more worrisome pops, hisses, groans, creaks and knocks, and tell us what they mean and how they can be remedied.

Here are the top seven problem noises and how they can be solved.

1. What is that clanking sound when I turn on the heat?

The problem: When most homeowners first turn on their heating system in the fall, they hear a little moaning and groaning as the heating system expands and rubs against the frame of the house, says Mike Kuhn, the New Jersey owner of HouseMaster inspection service and coauthor of “The Pocket Idiot’s Guide to Home Inspections.” With a baseboard hot-water system, you can also expect “normal clinking and knocking,” says Kuhn. The circulator pump or pumps to the system, however, “should be silent when they run,” says Kuhn. If you hear knocking or clanking, typically located at the boiler itself, it might be a sign of impending failure of the circulator pump, he says.

The solution: Get a repairman out to check on it, pronto.

2. There’s a strange scratching sound coming from behind the walls.

The problem: If you hear strange noises like scratching and possibly chittering coming from places where no one lives in the house, you could have mice, squirrels, raccoons or even bats sharing your quarters, says Richardson. “Any kind of wild critter could be up in the attic,” he says. And these freeloaders aren’t just a nuisance; bats can carry deadly rabies. In the Southwest, the droppings of mice can spread hantavirus. Some animals will tear up insulation to nest or chew through siding and even electrical wires, causing fires.

The solution: As soon as you suspect an intruder, get on it: Set traps. (Call in a pro if the animal is stubborn or large.) Finally, prevent the problem from reoccurring by sealing up the entrances to your house with steel wool, metal sheeting, caulk and/or hardware cloth.

To keep raccoons away, put garbage in sealed, secure metal cans that can’t be tipped. Bring pet food inside. After pests have been removed, make sure vents and chimneys are securely covered with mesh or a grille, so those spaces can still breathe.

3. There’s no one in the house and I can still hear running water. How can that be?

The problem: “You definitely don’t want to hear water running if nobody’s using anything,” says Richardson. The sound could indicate many things — a busted pipe in a wall, under the floor or even in the irrigation system.

The solution: If you hear running water when you shouldn’t, shut the main off and see if the noise goes away, says Richardson. If it does, you’ve got a leak somewhere — and a problem in need of fixing. Unless you’re really handy and ready to do surgery on your home, call in a plumber.

4. I hear a bubbling (or cracking) sound coming from the water heater. Is that normal?

The problem: A gas-fired hot-water heater works pretty much like boiling a pot of water: A fire is lit and the water inside is heated until it’s ready for use. “A lot of sediment builds up at the bottom of a hot water tank, and that sediment works like an insulator,” forcing the burner to work harder, Kuhn says. The strange noise you hear is the bubbling sediment — and a sign that the tank is probably experiencing fatigue and may be facing premature failure, he says.

The solution: Ideally, you should flush out your hot water tank every few months, using the drain valve near the bottom of the floor. “However, nobody does it,” says Kuhn, because it can be a pain to do. If your water heater is already making these noises, draining it might help. “It could (work) a little bit longer, [and] it could go a lot longer,” but the damage is probably done, says Kuhn.

5. My furnace is making a whistling (sucking) sound that it’s never made before. Is it going to need to be replaced?

The problem: “What that can connote is that your filter hasn’t been changed,” says Richardson. “And your furnace is trying to pull in air from around it.” That’s not good, he explains, because it means the furnace is working too hard. “What it will do is start sucking exhaust gasses from the furnace into the house.”

The solution: Install clean filters regularly — “anywhere from three months to monthly, depending on atmospheric conditions,” says Richardson.

 

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http://www.zillow.com/blog/7-creepy-house-noises-163176/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+ZillowBlog+%28Zillow+Blog%29

 

 

Inventory still short of what market needs; median sale of luxury units now at $5M | #CrossRIverRealtor

A one-bedroom at 33 Riverside Drive listed at $900,000 Nearly half of the Manhattan properties sold during the third quarter traded at or above their listed price, and at the highest level in six years, according to Douglas Elliman’s quarterly report released Wednesday. Despite a 27.6 percent uptick in inventory during the quarter, the report found that nearly half of sales closed for the asking price or more. “The implication is that… inventory is still falling short of what the market needs,” said Jonathan Miller, president of appraisal firm Miller Samuel and author of the report. Overall, the number of listings during the third quarter is still 18 percent lower than the 10-year average. But the condo market saw a 52.5 percent increase in listings, with resale inventory rising by about a quarter (to 1,578 listings from 1,258) and new development inventory doubling (to 1,409 listings from 701). But even with more product on the market, the number of sales during the third quarter dropped 13.3 percent year over year. Miller pointed out, however, that the number of sales has hovered around 3,300 for the past four quarters, which is 29 percent higher than the 10-year average. “There’s still unusually heavy volume,” he said, citing continued momentum in the market related to the release of pent-up demand in 2013.

 

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http://therealdeal.com/blog/2014/10/01/half-of-apartment-sellers-in-3rd-quarter-got-their-price-or-higher/#sthash.MIpPSVow.dpuf

Mortgage applications rise 2.8% after weeks of low interest rates | Cross River Real Estate

 

Mortgage applications increased 2.8% from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending August 22, 2014.

The Market Composite Index, a measure of mortgage loan application volume, increased 2.8% on a seasonally adjusted basis from one week earlier.  On an unadjusted basis, the Index increased 2% compared with the previous week.

The Refinance Index increased 3% from the previous week.  The seasonally adjusted Purchase Index increased 3% from one week earlier. The unadjusted Purchase Index increased 1% compared with the previous week and was 11%  lower than the same week one year ago.

The refinance share of mortgage activity increased to 56% of total applications, the highest level since March 2014, from 55% the previous week.  The adjustable-rate mortgage share of activity remained unchanged at 8.0% of total applications.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) decreased to 4.28% from 4.29%, with points decreasing to 0.25 from 0.26 (including the origination fee) for 80%  loan-to-value ratio loans.  The effective rate remained unchanged from last week.

 

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http://www.housingwire.com/articles/31177-mortgage-applications-rise-28-after-weeks-of-low-interest-rates

 

Houston Megamanse With Gargantuan Indoor Pool Wants $19M | Cross River Real Estate

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Location: Houston, Texas
Price: $18,900,000
The Skinny: Leave it to an eccentric, high-living Italian baron—who also happened to be heir to the Texas-sized oil fortune of wildcatter extraordinaire Hugh Cullen—to dream up something as fantastically and wonderfully tasteless as this gargantuan mansion/natatorium in the River Oaks district of (where else?) Houston, Texas. The chewy nougat center of this black gold-fueled confection is the 12,000-square-foot mall food court with a swimming pool drilled into its marble floors, led pool lights, around which the rest of the house orbits, trapped in the kind of gravitational pull that only a dense concentration of pure awful can generate. What makes the home truly remarkable is its embodiment of the spirit of the man who built it, the Baron Enrico di Portanova. If you are looking for solar street light suppliers in china the best  solar LED light provider you get here,do visit.

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The late baron exploits, as documented in his Times obituary, are legend: he was a philosopher who once said that the best things in life are “sun, sex and spaghetti,” an international jet-setter who traveled the world in his very own Lear jet (which he called his “taxi”), and a loving husband who once tried to buy his wife a share in the “21” Club, and when rebuffed enclosed the garden of his home in glass, giving birth to the swimming and entertainment center we see before us today. After di Portanova’s death in 2000, the mansion passed into the hands of the current owners, who are asking $18.9M.

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http://curbed.com/archives/2014/08/05/houston-house-with-insane-pool.php

Refinancings drop 4% with purchases up 0.2% | Cross River Real Estate

 

Continuing the long-term trend this year, mortgage applications decreased 2.2% from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending July 25, 2014.

The Market Composite Index, a measure of mortgage loan application volume, decreased 2.2% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 2% compared with the previous week.

“Despite mortgage backed security issuance being up 38 percent from the first quarter average, the MBA index continues to show declines. This suggests that there are fundamental shifts occurring in the market where big players (reporting to the MBA) may be giving up market share or perhaps not holding as many loans in portfolio, thereby pushing up the bond issuance,” said Quicken Loans Vice President Bill Banfield. “In either case, the current level of activity for purchases and refinances has been directional stronger in recent months based on actual security issuance. With home prices stabilizing from a rapid level of appreciation and interest rates either falling or holding steady recently, I expect to see continued improvements in the purchase arena.”

 

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http://www.housingwire.com/articles/30841-mortgage-applications-continue-fall-with-22-drop