Tag Archives: Waccabuc NY Homes

US banks under pressure to step up new mortgage business | Waccabuc NY Homes

 

Pressure is mounting at the mortgage banking divisions of  the biggest US  banks.

As refinancing activity has plummeted, banks are trying to step up their new  home loan books, in an attempt to offset the dramatic revenue drag on overall  bank earnings. There are few easy ways to boost new purchase originations, but  one of the starkest battles is playing out in the bidding war for hotshot  mortgage loan officers.

“People are fighting over a smaller pie,” said Franklin  Codel, head of mortgage production at Wells Fargo, the biggest US home lender. “The  competition for quality loan officers is very high.”

Up to now, the focus has been on thousands  of job cuts in the mortgage divisions of US banks – many of which came in  the refinancing call centres as higher interest rates deterred borrowers from  refinancing their mortgages.

But as credit quality improves the banks have begun vying for a slice of the  new purchase market and have started an intense competition for experienced  mortgage bankers with existing client relationships.

The role of government-backed entities such as Fannie Mae and Freddie Mac means that US banks tend to offer  similar mortgage products so it is harder for them to stand out in this area  than in credit cards, where their benefits packages differ.

http://www.ft.com/intl/cms/s/0/ef5d1b9e-8377-11e3-86c9-00144feab7de.html#axzz2sIQ3eQmw

Hybrid ARMs are Hot | Waccabuc NY Real Estate

 

Hybrid ARMs continued to be the most popular loan product offered by lenders and chosen by ARM borrowers according to Freddie Mac’s 30th Annual Adjustable-Rate Mortgage (ARM) Survey of prime loan offerings, which was conducted January 6 to January 10,

Hybrid ARMs have an extended initial fixed-rate period — generally three to ten years — and then adjust annually thereafter. Nearly all of the ARM lenders participating in the survey offered a hybrid. The 5/1 hybrid (a five-year fixed-rate initial period before the rate resets annually) was by far the most common, followed by the 3/1, 7/1 and 10/1. Far less common were ARMs where the re-pricing frequency was fixed for the life of loan, such as a one-year adjustable, a 3/3 ARM (which adjusts once every three years), or a 5/5 ARM (which adjusts every fifth year).

Among the 106 ARM lenders surveyed, 84 offered Treasury-indexed ARMs and 22 London Interbank Offered Rate (LIBOR)-indexed ARMs; generally, community and regional lenders were more likely to offer Treasury-indexed ARMs while large, national lenders offered LIBOR-based ARMs. Thus, even though offered by fewer lenders, the LIBOR-based product accounted for more than one-half of ARM originations. LIBOR-indexed ARMs generally had a lower margin (about 0.5 percentage points lower) than Treasury-indexed ARMs, a similar initial interest rate, but a higher index rate (about 0.5 percent-age points higher).

In early January 2014, the interest rate savings for the 5/1 hybrid ARM with a 30-year term — the most common ARM offered in today’s market — compared to the 30-year fixed-rate mortgage amounted to about 1.36 percentage points. For a $250,000 loan, the monthly principal and interest payment on a 5/1 hybrid would be about $194 less than on the 30-year fixed-rate loan over the first five years of the loan.

 

 

http://www.realestateeconomywatch.com/2014/01/hybrid-arms-are-hot/

Pending homes plunge, surprising economists | Waccabuc NY Real Estate

 

Signed contracts to buy existing homes dropped 8.7 percent in December as abnormally cold weather hit much of the U.S., according to a new report from the National Association of Realtors.

The plunge caught economists by surprise. Economists polled by Reuters had forecast pending home sales would tick up 0.3 percent.

 

  This pending home sales index fell to 92.4 from a downwardly revised 101.2 in November. These signed contracts are an indicator of sales in January and February, and are at the lowest level since October 2011.

“Home prices rising faster than income is also giving pause to some potential buyers, while at the same time a lack of inventory means insufficient choice. Although it could take several months for us to get a clearer read on market momentum, job growth and pent-up demand are positive factors,” said the association’s chief economist, Lawrence Yun.

 

 

http://www.cnbc.com/id/101377134

Sharp Drop In December Pending Home Sales | Waccabuc NY Real Estate

 

The number of U.S. homes in contract fell to the lowest point in 20 months last month. Unseasonably cold weather and low home inventory may have temporarily slowed housing growth nationwide.

For home buyers, the drop may present an opportunity. Homes had sold quickly through most of 2013 so the rapid, year-end slowdown may help give buyers leverage. Plus, mortgage rates have been dropping. Today’s rates are their lowest in more than 10 weeks.

The spring market looks ripe to rebound. The best deals of this year, then, may be the ones you find today.

Pending Home Sales Index : A “Future” Housing Indicator

The Pending Home Sales Index (PHSI) is a monthly report, published by the National Association of Realtors® (NAR). It measures homes under contract, and not yet closed.

The Pending Home Sales Index is unique among the “common” housing market metrics. Whereas most metrics report on how the housing market did perform, the Pending Home Sales Index reports on how the housing market will perform. The index is “forward-looking”.

This is because, according to the National Association of Realtors®, 80% of homes under contract “close” within 2 months.

In this way, the Pending Home Sales Index is correlated to the Existing Home Sales report. Homes under contract become homes sold. We should expect the February Existing Home Sales report, then, to show a similar drop-off as last month’s Pending Home Sales Index.

In December, the Pending Home Sales Index slipped 9% to reach 92.4. The drop marks the largest one-month change since May 2010, which was the month after the end of that year’s federal home buyer tax credit.

 

http://themortgagereports.com/14334/pending-home-sales-index-buyer-opportunity

Should I Update the Flooring in My Entry Hall? | Waccabuc NY Real Estate

 

Q. The floors in our home are mostly hardwood except for the entry hall, which is dated tile. Is it worth replacing?

A. “If you and your broker notice it as a flaw and something that needs to be updated, you can be sure the buyer will, too,” said Aimee Scher, a real estate sales representative at Douglas Elliman Real Estate in Manhattan. So in most cases, she said, it is probably a good idea to replace the tile.

But you should consider the condition of the rest of the home, and your asking price. If other parts of your home require work, and you plan to set the asking price below similar properties, it may make sense to leave it as is.

“Some people would be willing to buy it with that flaw,” Ms. Scher said, “and then rip it out and replace it themselves.”

If the rest of your home is in pristine condition, though, and you plan to set your asking price at the high end of the range for similar properties, you should deal with the problem.

Ms. Scher said, “A $10,000 fix that might add $30,000 or $40,000 to your purchase price is something worth doing.”

http://www.nytimes.com/2014/01/30/garden/should-i-update-the-flooring-in-my-entry-hall.html?hpw&rref=garden

Top 10 WordPress Plugins That You Need To Be Using In 2014 | Waccabuc NY Realtor

 

If you’re running a WordPress-powered website or blog, then you’re always  searching for a way to innovate and make your site easier to use –for both you  and your visitors.  This is one reason why WordPress plugins are so  unbelievably awesome, because they seem like quick little cheats and hacks that  take little-to-no time to learn, install, and use.

One of the most important parts of the plugins we chose is that all ten of  them can help just about any blog in some way.  Also, we wanted high  functionality, low cost, ease of use, popularity, and simple installation.   To make the cut, they basically have to be foolproof and downright powerful.

Well, it is now the year 2014, and this top-10 list of the year’s best  plugins has arrived.  If you haven’t yet download these plugins, your life  is about to get a whole lot easier…

Here are top 10 WordPress Plugins you should consider using in 2014.

#1: WordPress   by Yoast

With over 7 million downloads to date, that makes this one of the #1  WordPress plugins for its power, ease-of-use, and functionality for optimizing  your posts for search engines.  Basically, the plugin works the way it  sounds: simply download it, install the plugin, and it goes to work getting your  blog or website search engine optimized.  According to the raving customer  reviews, this plugin is not to be overlooked.

Top 10 WordPress plugins Yoast

#2: WP Google  Drive

Don’t get caught in a sticky situation.  Backing up the files from your  WordPress site is just as essential, as it is easy with this plugin, called WP  Google Drive.  Backup plugins for WordPress are a dime-a-dozen; however,  the fact that this backs up to Google Drive makes it unbelievably simple and  convenient.

Top 10 WordPress plugins Google Drive

#3: Ebyline  WordPress Payments

Ebyline is an industry leader in connecting freelance writers and clients who  need content creation.  Thus it makes sense that they would develop a  plugin that allows clients to pay freelance writers directly from their  WordPress dashboard.  Not only is this convenient, but the plugin even  keeps track of W9 tax information too.  Clever.  Very clever.

Top 10 WordPress plugins EByline

#4: Google  Analytics Dashboard

If you need to track your traffic, but don’t want to navigate away from your  WordPress dashboard, then you can do it with this plugin: Google Analytics  Dashboard.  The convenience of this plugin is monumental, giving you a  realtime picture of what your traffic is doing, directly from inside  WordPress.

#5: Shareaholic

If you want one of the best plugins in the history of blogging, you’ll need  to download Shareaholic.  It’s basically a platform, from which you can get  your blog posts noticed, via social networking media.  Not only will this  work with Facebook, but you can also use it with LinkedIn, Twitter, Pinterest,  and even Google+.  Also, it will provide the usual Facebook buttons, just  so you can increase your blog post’s ‘shareability’.  In addition, its  sleek design cuts down on the clutter, helping your blog get noticed and stand  out.  Few plugins are this powerful.

Top 10 WordPress Plugins Shareaholic

#6: Thank Me  Later

Have you ever posted a comment on a blog, or provided your email to a site –then receiving an email mere seconds from doing so?  You automatically  think, “Well either that’s the most obsessive blog admin on the web, or this is  an auto-generated email.”  Well, with Thank Me Later, you can make your ‘Thank you,’ emails far more personal through the ability to customize certain  fields, and the best part… you can tell it to send hours after you the  signup.  The beauty of this is the fact that it provides a much more  personal touch to the emails that are programmed to be sent to new commenters  and visitors.

Top 10 WordPress Plugins Thank Me later

#7: Akismet

Of course, not all comments are generated without ulterior motives.   Having to deal with spam and those annoying ad comments is synonymous with the  success of a blog… until now.

Askimet is a WordPress plugin that will filter junk comments and sift through  the real ones and the spam.  Simply set it and forget it, but you can  moderate all comments if you wish.  Also, your use of Askimet will send  reports and help improve the plugin to provide better filtering.

Top 10 WordPress Plugins Akismet

#8: Contact Form  7

Basically, Contact Form 7 is a WP plugin that provides one of the most  functional, simplest, and easiest contact forms for blogs.  If you’ve  recently filled out a contact form on a blog, then there’s a good chance it was  one powered by Contact Form 7.  Also, do you remember how we talked about  those annoying spammers in #7?  Well, CF7 even works with Askimet, so that  you can rest assured –those spammers aren’t going to abuse your contact  form.

Top 10 WordPress Plugins Contact form 7

#9: Simple Pull  Quote

If you run any kind of a research-based blog or write about anything  concerning current events, then it is important to be able to quote your  sources.  However, quoted sources are often overlooked by readers.   One great way to keep people reading (even your quotes) is to make the quote ‘stick out’.

Simple Pull Quote is a plugin that simply adds a button to your post  dashboard, which allows you to highlight the text that was pulled from another  source.  The visitor then sees a clear, concise quote that sticks  out.  Simple.

 

 

 

Read more at http://www.jeffbullas.com/2014/01/28/top-10-wordpress-plugins-that-you-need-to-be-using-in-2014/#aEujhXXIjH2ip6zW.99

More customized design solutions available through Homes.com Studio | Waccabuc NY Real Estate

 

Homes.com today launched a new responsive design website platform for real estate professionals, Homes Connect Fusion, that adapts content for viewing across desktops, laptops, tablets and smartphones. Fusion provides custom-designed websites using responsive technology to showcase content and branding while enhancing the consumer search experience. Fusion allows users to select from 32 background images and seven color options to match individual brand requirements, and provides integrated Internet Data Exchange (IDX) and map-based listing search. Homes.com also released Homes.com Studio, which provides more customized design solutions utilizing the Fusion website platform. Real estate pros will receive expert design advice from Studio consultants who match their individual marketing and branding goals.“With mobile traffic expected to surpass desktop traffic in 2014, implementing a comprehensive high-impact website product for real estate professionals is essential to achieve a positive user experience,” said Homes.com Executive Vice President Brock MacLean in a statement. “We are excited to offer real estate pros the tools to provide a responsive Web browsing experience for homebuyers and sellers through the affordable and customized Homes Connect Fusion and Studio products.”

 

 

– See more at: http://www.inman.com/2014/01/14/homes-com-offers-responsive-design-website-platform-for-agents/?utm_source=20140115&utm_medium=email&utm_campaign=dailyheadlinesam#sthash.4TDO8PAm.dpuf

Stagnation hit the Phoenix-area housing market | Waccabuc Real Estate

A new report from the W. P. Carey School of Business at Arizona State University shows stagnation hit the Phoenix-area housing market as 2013 came close to an end. Phoenix-area home prices have been going up since they hit a low point in September 2011, but the increases have slowed down in recent months.

The latest data for Maricopa and Pinal counties, as of November, reveals:

• Price gains continuing to slow, even though the median single-family-home price went up 23 percent from November 2012 to November 2013.

• Sales activity down 27 percent at the same time.

• Investor interest and construction permits also falling off.

The median single-family-home price went up 23 percent from November 2012 to this past November – from $162,500 to $200,000. Realtors will note the average price per square foot rose about 18 percent. The median townhouse/condo price went up about 20 percent, to $119,900.

 

 

http://www.arizonadailyindependent.com/2014/01/13/stagnation-hit-the-phoenix-area-housing-market/