The Etiquette of Homebuying | Waccabuc NY Homes
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Cohen and Steers, Real-Estate Pioneers, Blaze New Trails | Waccabuc Real Estate
Fixed Mortgage Rates Continue Gradual Climb Higher | Waccabuc NY Real Estate
Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average mortgage rates mixed with the fixed-rate products moving higher for the fourth consecutive week, while adjustable rate mortgages eased.
News Facts
- 30-year fixed-rate mortgage (FRM) averaged 4.37 percent with an average 0.7 point for the week ending February 27, 2014, up from last week when it averaged 4.33 percent. A year ago at this time, the 30-year FRM averaged 3.51 percent.
- 15-year FRM this week averaged 3.39 percent with an average 0.7 point, up from last week when it averaged 3.35 percent. A year ago at this time, the 15-year FRM averaged 2.76 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.05 percent this week with an average 0.5 point, down from last week when it averaged 3.08 percent. A year ago, the 5-year ARM averaged 2.61 percent.
- 1-year Treasury-indexed ARM averaged 2.52 percent this week with an average 0.4 point, down from last week when it averaged 2.57 percent. At this time last year, the 1-year ARM averaged 2.64 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 the Regional and National Mortgage Rate Details and Definitions. Borrowers may still pay closing costs which are not included in the survey.
Quotes Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac.
“Mortgage rates edged up with new home sales exceeding expectations and rising to a seasonally adjusted pace of 468,000 units in January, the strongest annual rate since July 2008. The 9.6 percent increase in new home sales for January followed an upward revision of 13,000 units in December. The S&P/Case-Shiller® 20-city composite house price index rose 13.4 percent over the 12-months ending in December 2013.”
Harsh weather, tight supply sink U.S. home sales | Waccabuc Real Estate
Home Sellers Can’t Sell If They Can’t Find a Next Home to Move Into | Waccabuc Real Estate
There’s some good news for U.S. homeowners in early 2014, especially those who want to sell.
Data from Seattle’s Redfin citing figures culled from 19 major real estate markets show home prices up 14.3% in January from a year earlier. All 19 markets posted gains on home values.
At the same time, there is a lack of homes for sale, with inventory down 9.4% from a year earlier due to a lack of “demand growth,” the company says.
Redfin says only 28% of its customers made an offer on a “for sale” home last month, compared with 42% at the same time in 2013. That’s the case even as homebuyers taking in visits to homes remains stable at 50% — it’s just that those visits aren’t leading to offers.
Home sellers are still bullish.
The number of American homeowners who say “now is a good time to sell” rose 4% in January. Holding them back is a fear that they won’t be able to find a good deal on a next home.
“Most of my home-selling clients worry the most about what will happen after they sell,” says Paul Stone, a Denver real estate agent. “With so much competition in the market, they fear they will have to move in with their in-laws if they can’t find their next home quickly.”
Yolanda Foster Selling “Dream Home” Due to Battle With Lyme Disease | Waccabuc NY Homes
Yolanda Foster explains to Us Weekly why she’s decided to sell her Malibu mansion. “This is our dream home, but due to my battle with Lyme disease for the past two years I just don’t have the strength to run this almost 5-acre property anymore and should really focus on my recovery with as little stress as possible,” she tells Us. “My daughter Gigi moved to New York last July and my Bella will move this July, so it will be just the two of us with my 14-year-old son, Anwar.”
ORIGINAL STORY:
Yolanda Foster is saying goodbye to her lemon trees. The Real Housewives of Beverly Hills star and her husband, Grammy-winning musician David Foster, have listed their Malibu, Calif. mansion for $27.5 million, real estate site Trulia reports.
On Bravo’s Real Housewives of Beverly Hills, Yolanda, 50, and David, 64, have frequently been filmed hosting extravagant dinner parties in their stunning 11,622 square feet custom-built home. The estate has a jaw-dropping ocean view and a gorgeous infinity pool.
The property also features orchards of citrus and avocado trees. On her reality show, Yolanda has been seen picking lemons from her trees for her Master Cleanse diet. The Dutch model also showed off her glass refrigerator in her gourmet kitchen.
10 Design Tips Learned From the Worst Advice Ever | Waccabuc NY Homes
The Most Common Home Decor Mistake You’re Probably Making | Waccabuc NY Real Estate
1. IF YOU’RE A QUIET TYPE
A quiet retreat
Bracketed by a dining-height banquette and a comfy seat, a 3′ oval pedestal table creates an eating spot for four-or five when the stool is pulled alongside. Across the room, a narrow 4 1/2′ library table flanked by armchairs is a serene reading area that can be used for dining when friends stop by.
If you find yourself not using your dining room that often, try rethinking its function. This scheme is great for casual dinners and lazy weekends over coffee and the paper.
A room for the quiet type
2. IF YOU’RE A PARTY THROWER
A room fit for endless parties The pair of 42″ round drop-leaf tables allows two small groups to sit facing each other. A mirrored chest and a large buffet store linens and tableware; during meals, they hold food and drink, or can be laid with platters so guests can self-serve. When you’re not entertaining, fold one table in half and move it against the wall, to avoid the feel of an underpopulated restaurant.
Round tables facilitate conversation-and lively dinner parties. (Plus, they make it easy to squeeze in extra guests)
Optimized for endless parties
3. IF YOU’RE A SERIOUS COOK
Maximize for entertaining space
A wide 3′ x 7′ table means there’s room for two generous wing chairs to anchor each end; a set of six side chairs fits neatly along the length. A pair of demi-lune accent tables topped with mirrors provides depth and a calming symmetry that’s pleasingly offset by a potted topiary tree in the corner.
This formal yet comfortable arrangement practically demands long, leisurely meals that linger well past dessert.
http://shine.yahoo.com/at-home/most-common-home-decor-mistake-39-probably-making-141300635.html
One thing you should do before refinancing | Waccabuc NY Real Estate
Thinking about refinancing? Before you do, put some time and effort — and some money too — into sprucing up.
For anyone selling a home, sprucing up is a no-brainer. Repairs, upgrades, painting and landscaping can raise the sales price. But homeowners who are staying put and refinancing often don’t bother with these improvements. If you’re not looking for a buyer and have years to get around to these things, why bother?
Because the home’s condition will be reflected in the lender’s appraisal, which will determine whether you get the new mortgage and how large it can be.
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