Mortgage rates are still so low because it’s a big world, full of surprises | Inman News.
Mortgage rates are still so low because it’s a big world, full of surprises | Katonah NY Real Estate
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Tag Archives: Westchester Luxury Homes
Why today’s homebuyer needs a real estate agent more than ever | Mt Kisco Real Estate
Last summer I got an email from a local real estate attorney who wanted to buy a house. He’d just gotten engaged and wanted to save some money by representing himself.
This attorney wanted to do all the work an agent would do to find and buy his first home, and get paid a commission for his work. I explained to him that the commission is payable to the listing agent who agrees to pay a portion of it to the Realtor representing a buyer.
Usually, if there’s no buyer’s agent, the seller’s agent gets the entire commission. Some agents will accept a reduced commission for representing both parties.
The seller saves some money that way. Sometimes the savings get passed along to the buyer. I get several emails each year from homebuyers, usually first-timers, who want to know how they can get a real estate license so they can save money on the purchase of a home.
They find me through my blog, and apparently decide that I am too scary to work with, but not so scary that they can’t ask me a question or two. I always let them know that they do not need a license to buy a home, and that they do not need a real estate agent.
After I explain to them how to get a license — and that they have to work through a broker, who generally gets a percentage of each commission — they start to let go of their dream of being paid to find their own home. The buyers who want to do this are usually planning on buying a home that costs $300,000 or more — higher than average for a first-time homebuyer in this market — and planning on saving at least $9,000 by doing the work themselves.
– See more at: http://www.inman.com/2013/12/12/why-todays-homebuyer-needs-a-real-estate-agent-more-than-ever/?utm_source=20131212&utm_medium=email&utm_campaign=dailyheadlinespm#sthash.GuPAbDvB.dpuf
Fixed Mortgage Rates Little Changed | Bedford Hills Real Estate
Freddie Mac today released the results of its Primary Mortgage Market Survey(R) (PMMS®), showing average fixed mortgage changing little from the previous week amid light economic data releases.
News Facts
- 30-year fixed-rate mortgage (FRM) averaged 4.42 percent with an average 0.7 point for the week ending December 12, 2013, down from last week when it averaged 4.46 percent. A year ago at this time, the 30-year FRM averaged 3.32 percent.
- 15-year FRM this week averaged 3.43 percent with an average 0.7 point, down from last week when it averaged 3.47 percent. A year ago at this time, the 15-year FRM averaged 2.66 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.94 percent this week with an average 0.4 point, down from last week when it averaged 2.99 percent. A year ago, the 5-year ARM averaged 2.70 percent.
- 1-year Treasury-indexed ARM averaged 2.51 percent this week with an average 0.4 point, down from last week when it averaged 2.59 percent. At this time last year, the 1-year ARM averaged 2.53 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 were little changed amid a light week of economic data releases. Of the few releases, total nonfarm payroll employment rose by 203,000 in November and the unemployment rate declined to 7.0 percent. Also, single family mortgage debt outstanding increased for the first time since 2008. This is a positive sign as it reflects that the pick-up in new purchase-money originations has offset loan paydowns and led to a net increase in principal outstanding.”
Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation’s residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for one in.
JD Power survey highlights challenges of serving first-time buyers and sellers | Bedford Hills Realtor
Brokerages affiliated with franchisors Prudential Real Estate, Re/Max and Century 21 scored higher than average in overall customer satisfaction among first-time buyers in a J.D. Power study measuring customer satisfaction among first-time and repeat homebuyers and sellers among the nation’s largest real estate companies.
In general, overall satisfaction with real estate companies was higher among consumers who had bought or sold a home before, compared to first-time buyers and sellers. On a 1,000-point scale, the average score among repeat homebuyers was 817, and 803 among repeat home sellers, compared with the industry average of 797.
Companies affiliated with Prudential Real Estate ranked highest with first-time homebuyers in overall customer satisfaction (811), followed by Re/Max (798) and Century 21 (797). Companies affiliated with Coldwell Banker (792) and Keller Williams (787) scored below average. Among first-time sellers, Prudential Real Estate (809), Keller Williams (802), Re/Max (800) and Century 21 (799) were tops, with Coldwell Banker (780) scoring below average.
“Real estate companies remain challenged in adapting their customer service approach to best meet the needs of first-time homebuyers and sellers,” said Christina Cooley, director in the diversified services industries practice at J.D. Power, in a statement.
“They need to educate these customers by explaining the current state of the market, discuss foreclosure and short-sale transactions, and walk them through every step of the closing process.”
– See more at: http://www.inman.com/2013/12/10/jd-power-survey-highlights-challenges-of-serving-first-time-buyers-and-sellers/?utm_source=20131211&utm_medium=email&utm_campaign=dailyheadlinesam#sthash.at475iP0.dpuf
The Creation Of The Eternal Miami Marine Stadium | Waccabuc Realtor
The Miami Marine Stadium, designed by Hilario Candela, stands as one of Miami’s most crowning architectural achievements. The stadium undeniably captures the essence of the Miami Modern, or MiMo, architectural style—a term coined by Randall Robinson and Teri D’Amico that describes the adaptation of the International Style of modernism to South Florida’s environment and culture from the end of WWII until the late 1960s. Recently an effort to save the stadium from demolition and restore it has received much attention and support, all in the interest of the enormous architectural and social impact the stadium has had on Miami through its history.
Pancoast, Ferendino, Skeels, and Burnham’s as built plans of Miami Marine Stadium. 1963. [Courtesy of Hilario Candela]
In 1962 the City of Miami hired the Chicago firm of Ralph H. Burke to master plan a new park on Virginia Key, along the Rickenbacker Causeway. The proposal called for a monumental racecourse for speedboats, similar to Rome’s Circus Maximus but with water. It would include a grandstand on the south side and be open to Biscayne Bay on the northwest end. The project’s total estimated cost: $10 million.
The inclusion of a grandstand and other amenities for a large audience came at a time when boat racing and water skiing were exploding in popularity throughout the country. Amateurs and professionals alike embraced a sport that had once only been accessible to the wealthy who owned yachts or belonged to private clubs. Yet no city in America had an adequate boat racing course. In Miami, the annual Orange Bowl Regatta in December attracted hundreds of spectators and boat entries to the event. However, due to the lack of unprotected and limited space the event also gained public criticism.
The new stadium was to be the world’s first specifically designed for powerboat racing. Though other marine stadiums existed, such as the Long Beach Marine Stadium in California or the Jones Beach Marine Theatre in New York, each was built for either rowing/boat races or musical concerts, respectively. Miami’s new stadium would capitalize on tourism and local revenue with a diverse list of events to be hosted on site including major regattas, shows, and concerts.
To carry out the project the City of Miami hired the Miami-based architectural firm of Pancoast, Feredino, Skeels and Burnham, as well as Dignum Engineers. Dignum’s lead engineer Jack Meyer and Hilario Candela, a young Cuban-born architect from Pancoast, Feredino set out to construct an ambitious concrete wonder.
Construction photos of Miami Marine Stadium. 1963. Photo by Pancoast, Ferendino, Skeels, and Burnham. [Courtesy of Hilario Candela]
The then 27-year old Hilario Candela had a resume of experiences prior to this project that he usefully drew on for the stadium. Candela trained at the Georgia Institute of Technology and his mentors, a group of men that were leading the pathway with concrete structure experimentation, included Italian architect Pier Luigi Nervi, Spanish structural engineer Eduardo Torroja, and Spanish-Mexican architect Félix Candela. After graduation Candela returned to Havana, Cuba where he interned under Max Borges, Jr., designer of the famed Arcos de Cristal at the Tropicana Night Club, and Sáenz, Cancio, Martín, Álvarez and Gutiérrez-the largest firm in Havana at the time. It was here that Candela was introduced to thin-shell concrete construction and expressive rooflines. Coming to Miami to join Pancoast, Feredino, Skeels and Burnham, Candela’s first project was to construct a series of buildings for the first campus of Miami Dade College—something he continued for 30 years.
http://miami.curbed.com/archives/2013/12/09/marine-stadium-marvin-aguilar.php
South Salem, Mt Kisco Have Lowest Ask Price | #RobReportBlog
| South Salem, Mt Kisco Have Lowest Ask Price | #RobReportBlog | ||
| Katonah | $359,000.00 | |
| Pound Ridge | $285,000.00 | |
| South Salem | $205,000.00 | |
| Mt Kisco | $225,000.00 | |
| Chappaqua | $380,000.00 | |
| North Salem | $235,000.00 | |
| Armonk | $499,000.00 | |
| Bedford | $415,000.00 | |
| Bedford Hills | $289,000.00 | |
| Bedford Corners | $495,000.00 |
How can I make a worn wood floor look new again? | Cross River Homes
Sunlight, dents and foot traffic can all take their toll on a wood floor, causing it to appear worn and resulting in reduced stain color. But with a few key supplies, you can revive worn wood flooring without heavy-duty sanding. (See below for an instructional video on how to refinish a worn wood floor.)
How to Refinish Wood Floors
Start refurbishing your floor by finding a wood stain that matches the color of your existing floor. If you can’t find an exact match, choose a color that’s slightly darker. Experiment with the stain by rubbing it into a 1- or 2-square-foot area to see how it looks. The best wood stain I’ve found for this job, Minwax PolyShades, is actually a stain and sealer combination.
Stained floors need some kind of protective coating over the stain. The easiest coating to apply is oil-based urethane with a satin sheen, but — just as you did with the stain — you’ll have to experiment with the product before coating the entire floor. You don’t want to find out later that your urethane is incompatible with your stain, which would cause it to peel and pucker. Apply two coats of urethane over the 1- or 2-square-foot section of floor you stained, and then live with it for a week.
If both the wood stain and the coating are compatible with the wood, you can tackle the whole floor. Start by giving the wood a light sanding with 120- or 180-grit sandpaper in a 1/4-sheet finishing sander to roughen any remaining urethane slightly, then vacuum every last bit of dust and dirt off of the floor before rubbing in stain. Wearing rubber gloves, rub the stain everywhere, giving special attention to dented, scratched and worn areas. Let the stain dry for a day, and then apply two coats of the protective urethane (apply the second coat after the first coat dries). If all goes well, you’ll end up with a distressed but elegant floor that looks even better than a freshly sanded floor.
We vent attics for four reasons | Mt Kisco Homes
Most homeowners and builders believe that attics should be vented. If you walk down to your local lumberyard and lean on the counter, the employees and nearby customers will offer a variety of opinions about why attics need to be vented. Unfortunately, it’s highly unlikely that the statements you hear will be true.
Here are the four most common reasons people suggest to explain the practice of venting attics:
- To reduce the chance of moisture build-up in the attic or condensation on the underside of the roof sheathing.
- To make roofing shingles last longer.
- To lower cooling bills during the summer.
- To reduce the chance of ice dams.
Although attic ventilation is sometimes able to contribute in a very small way to addressing the problems on this list, there are much better solutions to all four problems than ventilation.
What does the code require?
If you plan to install insulation on your attic floor, then most building codes require that your house be equipped with soffit vents.
The standard code formula requires 1 square foot of net free ventilation area for every 300 square feet of attic floor area, assuming that half of the ventilation openings are located in the soffit, and half along the ridge. If a roof has only soffit vents and no ridge vents, most codes require 1 square foot of net free ventilation area for every 150 square feet of attic floor area.
Gray Day: Greenwich Remains Under Dense Fog Advisory | Pound Ridge Homes
Fog was continuing to create hazardous travel conditions Thursday morning as a Dense Fog Advisory was in place until noon, the National Weather Service said.
The warning is in effect in all of southern Connecticut, the lower Hudson Valley, northeast New Jersey and on Long Island, creating dreary, gray conditions.
Dense fog can create a visibility of a quarter mile or less. The warning is through noon but the fog may continue into the afternoon and evening, especially along the coast, the National Weather Service said.
High temperatures Thursday will reach the mid-50s, but showers are expected to move in by afternoon or the evening, the weather service said. Rain is likely overnight with more fog.
The reduced visibility can create hazards for on the road. Drivers should slow down, use low beam headlights and leave plenty of distance ahead in case a sudden stop is needed.
http://greenwich.dailyvoice.com/news/fairfield-county-remains-under-dense-fog-advisory
Refinance share of mortgage activity falls again | Bedford Corners Homes
Mortgage applications tumbled during the week ending Nov. 29, sinking 12.8% from the last report, the Mortgage Bankers Association said Wednesday.
Similarly, the refinance index also dropped 18%, hitting its lowest level since the beginning of September 2013.
The purchase index dipped 4% from the previous week after recording a slight fall in the last update.
Overall, the refinance share of mortgage activity fell again and now represents 63% of all applications filed, down from 66% a week ago.
The 30-year, fixed-rate mortgage with a conforming loan limit increased to 4.51% from 4.48%, while the 30-year, FRM with a jumbo loan balance edged up to 4.49% from 4.48%.
Furthermore, the 30-year, FHA rate escalated to 4.17% from 4.14%, and the 15-year FRM rose from 3.52% last week to 3.56%.
Meanwhile, the average contract interest rate for a 5/1 ARM fell to 3.09% from 3.18%.
http://www.housingwire.com/articles/28188-mortgage-applications-drop-128