Tag Archives: Katonah NY Real Estate

Katonah NY Real Estate

Is This Housing Indicator Flashing a Warning Signal? | Katonah NY Real Estate

Leave a reply

 

Mortgage applications continued their downward spiral as interest rates climb higher and doubts remain about the strength of the housing market. In the latest update from the Mortgage Bankers Association, for the week ended March 21, applications for home loans fell 3.5 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the index decreased 3 percent.

There has been a steady slide in mortgage applications over the past nine months as the housing market returns to a more sustainable pace. As the chart above shows, applications are near their worst level in years. The Refinance Index plunged 8 percent from the previous week. The Purchase Index managed to increase 3 percent, but on an unadjusted basis, the index was still 17 percent below year-ago levels.

Overall, the refinance share of mortgage activity accounted for 54 percent of total applications, the lowest share since April 2010 and down from 57 percent a week earlier. In fact, the refinance share of mortgage activity has now dropped for seven consecutive weeks. Conventional and government refinance applications led the contraction.

 

 

http://wallstcheatsheet.com/personal-finance/is-this-housing-indicator-flashing-a-warning-signal.html/?ref=YF

5 Reasons to Say ‘No’ to a Listing | Katonah Real Estate

Leave a reply

 

For all the hoops real estate agents have to jump through in order to secure a highly-coveted listing, it may seem crazy to say, but the truth is: Sometimes a listing just isn’t worth it. Before you take on a property you’re not sure about, ask yourself if it falls under one of the categories below. If it does, it’s probably not worth your time or trouble, so it’s a smart move to back away before it’s too late.

Instead, focus on the listings that you know will be a great partnership between you and the seller and lead to a successful sale. And remember, a listing that isn’t the right fit for you is the perfect chance to make a referral to one of another trusted agent in your network. You’ll avoid a situation that will cost you more time and money than it’s worth, and you’ll build goodwill within your own network.

Here are five red flags to look for that will let you know when it’s okay to say, “No way!” to a listing.

1. Sellers Want to List a Property Before Its Ready

A seller might want to list a property right away—before all of its challenges are solved. And when a property is listed before issues are resolved, it will stay on the market longer, negatively affecting the selling price and wasting your time and marketing budget.

2. You’re Not Qualified to Handle a Property’s Challenges

When there are known issues like repairs, zoning restrictions, or environmental hazards that pose obstacles to a smooth closing, you need to ask yourself if you have the qualifications and time to deal with them. If you’re not, tell the property owner they need to bring in the appropriate experts first.

3. The Seller Isn’t Authorized to Sell the Property

In certain cases, the person who presents himself or herself at the seller might not actually be authorized to sell the property, so it’s up to you to clear up any murky issues before taking on a listing. In instances of divorce, find out who the legal decision maker is and whether both parties must sign.

 

 

http://www.trulia.com/pro/sellers/5-times-to-say-no-to-a-listing/?ecampaign=tnews&eurl=trulia.com%252Fpro%252Fsellers%252F5-times-to-say-no-to-a-listing%252F

Craigslist real estate listings can help agents keep deals in-house | Katonah Real Estate

Leave a reply

 

Craigslist is the grandfather of listing sites.

So like grandfathers everywhere, it’s associated with the past, not the future. As a result, some agents may neglect the old-timer, seeking to harvest leads using cutting-edge tools instead.

But while some might consider Craigslist a bit of an old fogey, agents who shun it are passing up a marketing opportunity that remains a fertile (and typically free) source of high-quality leads, according to Amy Gerrish, leader of The Phoenix Metro Group, an agent team part of Phoenix-based HomeSmart.

As a resource for buyer leads, Gerrish — the latest winner of Inman News’ #madREskillz contest — says Craigslist seems to offer a better return on investment than advertising on listing portals or Facebook.

The leads she’s picked up from those sites seem to be of about equal quality to those she gets from Craigslist, which have translated into six sales for her team in the last year, she said.

“If they’re the same quality, then I just want the ones that you don’t have to pay for,” she said.

– See more at: http://www.inman.com/2014/03/05/craigslist-real-estate-listings-can-help-agents-keep-deals-in-house/?utm_source=20140305&utm_medium=email&utm_campaign=dailyheadlinespm#sthash.i2Zmr3w0.dpuf

Peek Inside 1945’s ‘Celestial’ Chrysler Building Observatory | Katonah NY Real Estate

Leave a reply

 

Monochromes.jpgPhoto courtesy of The Chrysler Building: Creating a New York Icon, Day by Day by David Stravitz; Princeton Architectural Press

Today we take a break from our regularly-scheduled Library of Congress programming to have a look at a tipster’s request: the observatory on the 71st floor of New York City’s Chrysler Building. The observatory—which featured, according to the book The Chrysler Building: One Kansas Mechanic and His Jazz-Age Tower of Babel, “a celestial motif, with sun rays painted on the walls, and Saturn-shaped lighting globes hanging from the ceiling”—opened to the public in 1945, 15 years after construction halted on the tower. The book also says that the steeply-pitched gabled ceiling succeeded in creating a feel of “disorienting splendor,” a technique used by architect William Van Alen to “dramatize a state of mind.”

 

 

http://curbed.com/archives/2014/02/28/peek-inside-1945s-celestial-chrysler-building-observatory.php

Housing Market Is On ‘Road Back To Normal’ | Katonah NY Homes

Leave a reply

 

As more inventory of for-sale homes helped slow previously high rates of appreciation, from December to January, national home values saw the smallest monthly increase since May 2012, according to the January Zillow Real Estate Market Reports.

National home values rose just 0.2% to a Zillow Home Value Index of $169,600.

Nationwide, while inventory remains tight, the number of homes listed for sale on Zillow was up 11.1% annually in January on a seasonally adjusted basis – the fifth straight month of rising year-over-year inventory.

Inventory rose year-over-year in 22 of the nation’s 35 largest metro areas covered by Zillow, with the largest inventory gains coming in some of the areas that were hit hardest by the housing recession, including Las Vegas (up 42.8%); Phoenix (up 30.5%); and Sacramento, Calif. (up 26%).

Those metros also experienced significant cooling in the pace of home value appreciation in January, Zillow notes, as buyers had more homes to choose from and were less apt to engage in the kinds of bidding wars that helped drive prices up so quickly last year.

“Last year, tight inventory contributed to very rapid home value appreciation. Now, more inventory is helping to moderate home value increases in many areas,” comments Stan Humphries, chief economist for Zillow.

 

http://www.mortgageorb.com/e107_plugins/content/content.php?content.15068

Canada housing agency sees stable starts, prices in 2014 | Katonah NY Real Estate

Leave a reply

 

Canada’s federal housing agency nudged up its forecast for housing starts and prices in 2014 and said sales and construction will be steady to higher in 2015 as an improving economy tempers the impact of rising mortgage rates.

The view from the Canada Mortgage and Housing Corp suggests the nation’s once-roaring housing market is settling into a soft landing, with construction moderating to more sustainable levels and sales and prices ticking slowly higher.

The CMHC said on Thursday housing starts will be in a range of 176,600 and 199,800 in 2014, with a point forecast, or most likely outcome, of 187,300 units, relatively unchanged from 187,923 units in 2013. That is up slightly from CMHC’s October estimate of 184,700 starts.

The agency said there will be 163,200 to 206,600 units started in 2015, with a point forecast of 184,900.

Both forecasts represent a sharp slowdown from the 214,827 starts of 2012, when the market was at record highs and the government intervened to tighten mortgage lending rules.

 

http://www.reuters.com/article/2014/02/06/canada-economy-housing-idUSL2N0LB0V520140206

 

Senate passes bill to delay flood insurance premium hikes | Katonah NY Real Estate

Leave a reply

 

In a 67-32 vote, the U.S. Senate has passed a bill to postpone steep increases in flood insurance rates across the country, the National Association of Realtors announced today.

The Homeowner Flood Insurance Affordability Act calls for a four-year delay on rate increases triggered either by a property’s sale or a flood map update for a property with previously grandfathered rates. The bill also creates an advocate within the Federal Emergency Management Agency (FEMA) to investigate homeowner complaints regarding rates.

The measure now goes to the U.S. House of Representatives where it currently has 181 co-sponsors in favor of the bill — 30 votes shy of a House majority, NAR said.

“NAR will redouble its efforts there to persuade the House leadership to bring a similar bill up for a floor vote at the earliest opportunity,” the trade group added.

Source: realtor.org

– See more at: http://www.inman.com/wire/senate-passes-bill-to-delay-flood-insurance-premium-hikes/?utm_source=20140131&utm_medium=email&utm_campaign=dailyheadlinesam#sthash.3EjBkEO2.dpuf

Housing Shortage Is Highest in These Cities | Katonah NY Real Estate

Leave a reply

 

Douglas Elliman Realtor Elaine Richheimer has noticed that the South Shore of Long Island is buzzing with real estate activity despite continuing efforts to recover from the water damage of November 2012’s Super Storm Sandy. In fact, home sales have increased 48.5% in the region stretching from Queens to the Hamptons.

“Although sales of waterfront properties are quieter, pricing is attractive and, as a result, living in a house on the water overlooking the South Shore is more obtainable now,” Richheimer told MainStreet.

Richheimer’s optimistic glow on home sales in New York reflects an estimated 56% of real estate agents who say now is a good time to buy compared to 55% in the fourth quarter of 2013, according to Redfin data.

While 71% of current homeowners are contemplating selling in 2014, according to a Lending Tree survey, buyers continue to be frustrated by housing shortages with 87% of Redfin realtors citing limited inventory as the biggest challenge for buyers.

“The housing crash lead new home construction to fall off dramatically, restricting the number of homes available for sale,” said Ellen Haberle, economist with Redfin, a national real estate brokerage. “New home construction has increased slowly over the past two years, but factors such as a lack of developed lots and skilled labor, expensive materials and tight credit conditions have challenged builders’ ability to boost construction quickly.”

 

 

http://www.mainstreet.com/article/real-estate/housing-shortage-highest-these-cities

Mortgage Foreclosures Down 29% in November | Katonah NY Real Estate

Leave a reply

 

Homeowners (and investors in the banks holding their mortgages) received a triple dose of good news Thursday, when residential property data provider CoreLogic (NYSE: CLGX ) announced that:

  • The number of completed foreclosures in America dropped 29% year over year in November, as compared to November 2012.
  • Completed foreclosures trended down sequentially from October, falling 8.3%.
  • The inventory of houses in some stage of the foreclosure process, the so-called “foreclosure inventory,” dropped 34% from a year ago. Month-over-month, the foreclosure inventory dropped 4.6% from October 2013 to November 2013.

Additionally, CoreLogic estimates that the residential “shadow inventory” of homes that are “seriously delinquent, in foreclosure or held as REO [real estate owned] by mortgage servicers, but not currently listed on multiple listing services,” has fallen to levels not seen since the start of the housing crisis in 2008. CoreLogic puts the size of this shadow inventory at 1.7 million homes, down 26.4% from one year ago.

As for actual foreclosures, according to CoreLogic’s data, 46,000 homes were foreclosed upon in November, versus 64,000 completed foreclosures in November 2012.

 

http://www.fool.com/investing/general/2014/01/09/mortgage-foreclosures-down-29-in-november.aspx