A Decade of Dramatic Developments - 12/31/09 01:33 PM
A Decade of Dramatic Developments
At the beginning of the 21st century, most home buyers had never viewed a home online; the three top home sale marketing methods were yard signs, newspaper ads, and open houses; and nearly nine out of 10 buyers financed their purchase with a fixed-rate, 30-year mortgage.
What a difference a decade makes.
"The real estate industry has seen tremendous change and evolution over the past decade," said NATIONAL ASSOCIATION OF REALTORS® President Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz. "As the first, best source for real estate information, REALTORS® have … (0 comments)

Consumer Enthusiasm Up Slightly - 12/31/09 10:46 AM
Consumer Enthusiasm Up Slightly
Consumers are more optimistic about the economy than they have been in the last year, according to the monthly consumer confidence survey by research group the Conference Board. The Conference Board's index rose to 52.9 in December, above its level a year ago, but at a 26-year low that is far below the 1985 base level, which is 100.
"The index does not suggest that consumer confidence is high, but it's better than it was the previous couple of months when it wasn't very good at all," said Thomas Lawler, an economist.
Economists tie the still shaky … (2 comments)

Loan Modifications Hit Credit Scores - 12/29/09 01:46 PM
Loan Modifications Hit Credit Scores
Applying for a mortgage modification and being in a months-long trial period can devastate a home owner's credit score.
Under the government plan, troubled borrowers can have their mortgage payments reduced to 31 percent of their pre-tax income. They are first put in a trial modification for several months to test whether they can meet the requirements of the new mortgage.
Borrowers who were previously current on their mortgages will see their FICO scores fall about 100 points while they are in the trial period, according to the Treasury Department. Borrowers who were previously late or … (4 comments)

Buyer Tax Credit Could Be Renewed Again - 12/29/09 01:45 PM
Buyer Tax Credit Could Be Renewed Again
 Will the housing tax credit be extended again - past the current April 30 deadline?
Sen. Johnny Isakson, a Georgia Republican and former real estate practitioner, swore in October that there would be no more extensions, but some observers predict that the answer is yes.
Jaret Seiberg, a managing director at research firm Concept Capital, predicts that Congress will choose to phase the credit out over six to 12 months. "We believe a phase-out is most likely because it would benefit housing markets but let Democrats argue they are fiscally responsible because they have … (4 comments)

Study: Homeownership Rate Likely to Drop - 12/29/09 01:43 PM
Study: Homeownership Rate Likely to Drop
Federal Reserve Bank of New York economists predict a decline in the U.S. homeownership rate as Americans spend the next several years trying to rebuild their equity.
The worst recession since the Great Depression, punctuated by a foreclosure epidemic, drove house values down by an estimated $5.9 trillion since they crested in March 2006, according to Zillow.com.
The New York Fed researchers expect home owners who are upside down on their mortgages because of this lost equity "very likely will convert officially to renters" in the absence of a price turnaround in the foreseeable future.
… (0 comments)

Interest Rates Predicted to Reach 6% - 12/28/09 03:38 PM
Interest Rates Predicted to Reach 6%
Interest rates are likely to rise to 6 percent by the end of 2010, predicted Amy Crews Cutts, deputy chief economist at Freddie Mac.The end of the Federal Reserve program that buys mortgage-backed securities will drive rates higher because private buyers will demand more return than the Fed."Extraordinary resources have been put into keeping the rates down and supporting the mortgage markets and it's hard to imagine that the rates can go much lower than they are," Crews Cutts said. "Anything we get at or below 5 percent is a gift at this point."Source: Washington … (0 comments)

Census: Americans Stayed Put in 2009 - 12/28/09 03:32 PM
Census: Americans Stayed Put in 2009
Fewer Americans moved in 2009 than any other year this decade, the U.S. Census Bureau reported this month.
Population also grew less this year than any other year since the turn of the 21st Century. It reached 307 million on July 1, up less than 1 percent from a year earlier, the bureau says. About 850,000 people immigrated from other countries, down 15 percent compared to 2006.
The losers in this trend included Florida, which lost 31,000 people to other states, a first for the Sunshine State, which used to be No. 1 in attracting … (0 comments)

Misuse of Home Buyer Tax Credit Reported - 12/28/09 03:29 PM
Misuse of Home Buyer Tax Credit Reported
A report earlier this month from the Treasury Inspector General for Tax Administration estimates that 73,799 taxpayers have incorrectly claimed the first-time home buyer tax credit. The report concludes: "The IRS is unable to verify eligibility for the majority of Recovery Act benefits at the time a tax return is processed."
The IRS didn't dispute the claim, but said it was studying the matter further. Some have suggested that this report and others will encourage Congress to put some safeguards in place before more claims result from the extension and expansion of the tax … (1 comments)

Economy Improving in 4th Quarter - 12/24/09 09:53 AM
Economy Improving in 4th Quarter
The economy grew 2.2 percent in the third quarter. The U.S. Commerce Department had previously estimated a 2.8 percent growth rate. Officials attributed the discrepancy to consumer caution, saying that consumers simply didn't spend as much.
Many analysts still believe the economy is likely to improve in the current quarter, growing at an estimated 4 percent, or perhaps, even 5 percent. Fourth quarter results will be released Jan. 29.
Companies stocking depleted inventories will drive fourth-quarter growth, but the results will continue to reflect consumer caution. "We expect a better performance in the fourth quarter, but … (0 comments)

Another Big Gain in Existing-Home Sales - 12/24/09 09:48 AM
Another Big Gain in Existing-Home Sales
Existing-home sales rose again in November as first-time buyers rushed to close sales before the original Nov. 30 deadline for the recently extended and expanded tax credit, according to the NATIONAL ASSOCIATION OF REALTORS®.
Existing-home sales - including single-family, townhomes, condominiums and co-ops - rose 7.4 percent to a seasonally adjusted annual rate of 6.54 million units in November from 6.09 million in October, and are 44.1 percent higher than the 4.54 million-unit pace in November 2008. Current sales remain at the highest level since February 2007 when they hit 6.55 million.
Lawrence Yun, NAR … (0 comments)

Report: Home Prices Likely to Hit Bottom in March - 12/24/09 09:44 AM
Report: Home Prices Likely to Hit Bottom in March
Home prices in 45 of the largest housing markets are expected to fall another 4.2 percent before they hit bottom in March, according to First American CoreLogic's LoanPerformance Home Price Index.
By October 2010, prices are expected to be heading upward again by about 1 percent compared to 2009.
The report warned that this progress could be jeopardized by an increasingly large "shadow inventory" of homes owned by banks but not yet on the market. The problem is particularly acute in Michigan and Ohio cities, the report said. It projected a 12.7 … (0 comments)

Prime Delinquencies Up - 12/24/09 09:38 AM
Prime Delinquencies Up
Prime mortgages that were delinquent more than 60 days rose 20 percent in the third quarter compared to the second, the Office of the Comptroller of the Currency and the Office of Thrift Supervision reported Monday.
Overall, more than 1 million mortgages, or 3.2 percent, were in some stage of foreclosure in the third quarter.
Almost 40 percent of borrowers whose loans were modified 20 percent or more through a federal program were delinquent again within a year, the government agencies also reported.
The report also revealed that lenders completed about 31,000 short sales in the third quarter, … (0 comments)

Higher Rates Will Require Lender Explanation - 12/24/09 09:35 AM
Higher Rates Will Require Lender Explanation
Under new rules from the Federal Reserve Board and the Federal Trade Commission, borrowers who are loaned money at less-favorable rates because of their credit ratings must be notified and given a free copy of their credit scores.
Currently, lenders don't have to offer any explanations. These rules apply to mortgage lenders as well as other sorts of financing firms. It takes effect Jan.1, 2011.
Consumers who are given terms "materially less favorable" than "a substantial proportion" of the lenders' other customers must receive the information, according to the report in the federal register.Source: Bloomberg, … (0 comments)

Mortgage Applications Fall - 12/24/09 09:28 AM
Mortgage Applications Fall
Mortgage applications decreased 10.7 percent last week on a seasonally adjusted basis from the previous week. On an unadjusted basis, the index decreased 10.9 percent.
The decrease was about equally divided between refinances, which declined 10.1 percent, and purchases, which decreased 11.6 percent. Compared to the same week the previous year, purchases declined 32.7 percent.
Interest rates were down:
30-year fixed-rate mortgages remained flat at 4.92 percent. 15-year fixed-rate mortgages increased to 4.34 percent from 4.33 percent. One-year ARMs remained flat at 6.52 percent. Source: Mortgage Bankers Association (12/23/2009)
… (0 comments)

Homes For Sale In Seaford, New York - 12/21/09 05:47 PM
Homes For Sale In Seaford, New York - MLS# 2240162 - $499,000.

 
 
 
 
 
 
 
 
 
 
 
Half Dormered Expanded Cape Nestled On Oversized Property In Seaford Manor Offers Eat-In-Kitchen, Formal Dining Room, Living Room With Fireplace, Den, Doors To Patio, 3 Full Baths, 4 Bedrooms, Full (Partially Finished) Basement With Heating System And Laundry Area, Water Heater Is 2 Years Young, New Siding, New Windows, Award Winning Seaford School District #6, Great Location, In-Ground Pool, 2 Car Attached Garage.
                                                                            
 
 
 
 
 
 
 
 
 
Home Characteristics - Style: Expanded Ranch, … (1 comments)

New RESPA Rules Start Jan. 1 - 12/21/09 04:11 PM
New RESPA Rules Start Jan. 1
The government hopes that the revamped Real Estate Settlement and Procedures Act, which takes effect Jan. 1, will make it easier for home buyers to understand what's going on at closing.
While some industry professionals are enthusiastic, others are dubious that these new regulations will really clear the fog.
"I think the net result is that it will cost consumers more because it will discourage shopping," said Hank Shulroff, senior vice president at Attorneys' Title Guaranty Fund. "The early disclosures are more transparent, but in the end the consumer is going to have less information … (1 comments)

Mortgages Becoming Easier to Obtain - 12/21/09 04:04 PM
Mortgages Becoming Easier to Obtain
In some parts of the country, borrowers with good credit are more likely to be able to borrow 95 percent of the purchase price than they were just a few months ago.
In Florida and other troubled markets credit remains tight and mortgage companies continue to scrutinize property appraisals, which makes it difficult for some borrowers to get financing. But in most areas of the country where prices are stabilizing or falling only slightly, standards are relaxing.
"We are starting to see...moderation," said Neil Librock, head of credit risk for Wells Fargo & Co.
Source: The … (4 comments)

Homes For Sale In Woodbury, New York – November 2006-2009 YTD Market Statistics - 12/19/09 08:47 AM
Homes For Sale In Woodbury, New York - November 2006-2009 YTD Market Statistics
  
The Average Days On Market of the Homes For Sale In Woodbury - November 2006-2009 YTD has been increasing for several years.
The Average Days On Market of Homes For Sale In Woodbury - November 2006-2009 YTD have increased by 69 market days.
This represents a 92% increase in the Average Days On Market of Homes For Sale In Woodbury - November 2006-2009 YTD.
 
The number of Closed Sales of Homes For Sale In Woodbury - November 2006-2009 YTD has been steadily decreasing over the past … (2 comments)

More Home Owners Walk Away - 12/18/09 02:19 PM
More Home Owners Walk Away
A growing number of home owners in Arizona, California, Florida, and Nevada-where prices have fallen the most-are walking away from their properties.
They are leaving the deal behind not because they can't pay but because they don't want to. A study by researchers at Northwestern University and the University of Chicago concludes that as many as 25 percent of defaults are driven by strategy, not necessity.
If many other people follow suit, "It's going to be really difficult to prevent a cascade effect," says Paola Sapienza, a professor of finance at Northwestern.
Brent White, an associate … (4 comments)

Coming Soon: More Foreclosures - 12/18/09 02:07 PM
Coming Soon: More Foreclosures
More than 1.7 million homeowners were verging on foreclosure this fall, making it likely that these houses will soon end up on the market one way or the other, driving down overall housing values.
"We're going to be dealing with high levels of distressed (sales) in the marketplace for at least a couple of years," says Mark Fleming, chief economist of researcher First American CoreLogic, which has been studying the problem.
Some real estate practitioners say they fear that this onslaught is coming.
"We've been in recovery mode for most of the year. How many foreclosures do … (8 comments)

Jumbo Foreclosures Leading the Pack - 12/18/09 02:03 PM
Jumbo Foreclosures Leading the Pack
Owners of properties with mortgages greater than $1 million are feeling pain the same as-if not worse than-less well-heeled owners.
More than 12 percent of mortgages exceeding $1 million were 90 days or more past due in September, compared to 6.3 percent of loans less than $250,000 and 7.4 percent of all U.S. mortgages, according to research firm First American CoreLogic
The reason for the shortfalls seems apparent. The number of U.S. households with a net worth of more than $1 million, not counting their primary residences, fell to a five-year low of 6.7 million last … (2 comments)

Judge Avoids Court for Real Estate Business - 12/18/09 01:56 PM
Judge Avoids Court for Real Estate Business
Philadelphia Common Pleas Court Judge Willis W. Berry Jr. won't be prosecuted for running a real-estate business out of his chambers because the district attorney declined to prosecute.
The Court of Judicial Discipline suspended Berry in July, and the Philadelphia Bar Association called on him to resign, saying his presence on the bench undermined public confidence in the criminal justice system.
The 67-year-old judge refused to resign. He said he'd been running the real estate business since long before he became judge-it supplemented his income from his law practice.
The issue came to light … (5 comments)

Foreclosures: Ten Reasons for Buyer Caution - 12/18/09 09:51 AM
Foreclosures: Ten Reasons for Buyer Caution
Foreclosed homes aren't always the best deal in town - even if they do come with a price tag that appears to be lower than some other homes in the neighborhood.
Here are 10 reasons why that is true, offered by Vince Mastronardi, president of On-Site Specialty Cleaning & Restoration in suburban Detroit.
 
No heat in the winter. When a home has been left unheated, buyers run a risk of damaged pipes. Not removed but ripped. Thieves and even angry former owners can do a lot of damage when they depart with fixtures and … (10 comments)

Fed Commits to Holding Down Interest Rates - 12/18/09 09:17 AM
Fed Commits to Holding Down Interest Rates
The Federal Reserve said Wednesday that it would keep short-term key interest-rate target between 0 and 0.25 percent for an "extended period" - interpreted by many analysts to mean months.
Officials said in a statement after the close of its December meeting that the economy has "picked up," unemployment is "abating," and financial conditions have "become more supportive of economic growth."
The Fed also said Wednesday that it will complete its purchase of up to $1.25 trillion in mortgage-backed securities by March, a decision that could negatively affect the availability of mortgages.
Source: The … (3 comments)

Home Builders Expect Bumpy Recovery - 12/16/09 02:23 PM
Home Builders Expect Bumpy Recovery
U.S. home builder sentiment declined one point to 16 in December.
A reading of 16 is the lowest since June when sentiment fell to 15. The National Association of Home Builders attributed the reduction to concern over job losses and the slow economic recovery.
Index readings below 50 indicate that builders are pessimistic. The last time the index rose above 50 was in April 2006.
"This is shaping up to be a bumpy recovery period for the housing market," says David Crowe, the NAHB's chief economist. "While some families may be just starting to factor the … (0 comments)

Sexiest Competition Pays Off in Web Hits - 12/15/09 10:14 AM
Sexiest Competition Pays Off in Web Hits
The announcement of San Francisco's sexiest real estate practitioner this year was supposed to be made Friday, but it has been delayed by "hangovers" and "contingencies."
This year, 27 women and 20 men competed for the title offered by The Front Steps blog.
As you might imagine, not everyone is thrilled with this competition, but flaunting it when you've got it can be a boost for business. When Wendy Heath, a practitioner with LB Brokerage in Long Beach, Calif., put herself on a billboard in a bikini, traffic on her Web site went from … (5 comments)

More Credit Defaults Predicted - 12/15/09 09:38 AM
More Credit Defaults Predicted
Mark Greene, the CEO of credit-scoring formula maker FICO, predicts that the next six months will lead to more mortgage and credit card defaults.
Greene points to 10 percent unemployment and depressed home prices as the reason why no bailout can effectively help the 30 percent of home owners who are underwater on their mortgages. He says the reality of this is so clear to many home owners that they are changing their priorities and paying off car loans and credit card debt before they pay the mortgage.
"I'm a notch less sanguine than some financial observers … (2 comments)

Practitioners Struggle With Home Pricing Issues - 12/13/09 03:40 PM
Practitioners Struggle With Home Pricing Issues
 With housing values falling from their peak a couple of years ago and millions of homeowners forced to sell under distress, pricing a home for the market has become a very delicate task.
Market-rate properties are having to compete with foreclosed homes or short sales that have been discounted by 20 percent or more, increasing the pressure on real estate practitioners to get the best deal for the clients even as buyers demand more and more concessions.
Aligning a seller's needs with the realities of today's market can be unpleasant and, in many cases, simply … (2 comments)

Practitioners Loath to Discount Commissions - 12/13/09 03:18 PM
Practitioners Loath to Discount Commissions
(1) Some home sellers, unhappy with declining prices, are pressuring real estate practitioners to give up part of their sales commissions.
But Elizabeth Weintraub, an associate with Lyon Real Estate in Sacramento, Calif., and the author of The Short Sale Savior, is quick to tell her colleagues, "You'd be foolish to give part of your salary away. I'm worth what I get paid."
On the other hand, Kellie Jones, an associate with Century 21 Beachside in Orange County, Calif., says that during the real estate bubble, practitioners could discount their commissions and make the loss up … (2 comments)

Homes For Sale In New Hyde Park, New York - 12/12/09 02:40 PM
Homes For Sale In New Hyde Park, New York - MLS# 2243845 - $549,000.

 
 
 
 
 
 
 
 
 
 
Very Large Expanded Cape Located Mid-Block Offers Eat-In-Kitchen, Formal Dining Room, Huge Living Room, Hardwood Floors, With 4-5 Bedrooms, 2 Full Baths, Full Basement - Partially Finished, New Roof, Beautiful Fieldstone Exterior.

 
 
 
 
 
 
 
 
 
Home Characteristics - Style: Expanded Cape, Rooms: 8, Bedrooms: 4, Bathrooms: 2, Appearance: Excellent, Year Built: 1953, School District: Community District 5, Taxes: $10,082.
Rooms - Eat-In-Kitchen: Yes, Dining Room: Formal, Den: No, Office: No, Basement: … (0 comments)

Homes For Sale In North Bellmore, New York - 12/12/09 02:16 PM
Homes For Sale In North Bellmore, New York - MLS# 2242609 - $435,000.

 
 
 
 
 
 
 
 
 
Great Starter House On Dead End Street Offers Living Room, Eat-In-Kitchen, Formal Dining Room, Huge Family Room, 4 Bedrooms, 2.5 Baths, 16x24 Deck, Above Ground Pool, Hardwood Floors, Gas Heat, Full Basement - Partially Finished.
 

 
 
 
 
 
 
 
 
 
Home Characteristics - Style: Expanded Cape, Rooms: 7, Bedrooms: 4, Bathrooms: 2.5, Appearance: Excellent, Year Built: 1920, School District: #4 North Bellmore, Taxes: $10,044.69 
Rooms - Eat-In-Kitchen: Yes, Dining Room: Formal, Den: … (0 comments)

Where's the Refund? - 12/12/09 09:32 AM
Where's the Refund?
First-time home buyers who bought as long ago as last winter are still waiting for their $8,000 tax refund.
As of mid-September, more than 1.4 million taxpayers had requested the credit by amending their federal tax returns. The IRS announced in October that it expects 5.1 million claims by year-end. That count doesn't reflect the extension and expansion of the credit in November.
IRS spokeswoman Carrie Resch says the agency is experiencing a higher-than normal number of amended returns and because amended returns are reviewed by hand, the process is delayed.
U.S. Sen. Amy Klobuchar (D-Minn.) has been … (4 comments)

Loan Modifications Coming Up Short - 12/12/09 09:26 AM
Loan Modifications Coming Up Short
Only about 4 percent of the home owners who signed up for loan modifications-fewer than 31,000-had received them by the end of November, according to figures released Thursday by the U.S. Treasury Department.
Of the largest lenders, Bank of America Corp. had the worst results. It completed a total of 98 modifications. With 7,100, GMAC Mortgage completed the most.
Lenders have blamed their lack of success in part on the failure of borrowers to complete the paperwork necessary for the process.
The government says it will expedite its efforts to push through as many modifications as … (0 comments)

New FHA Guidelines Could Aid Condo Sales - 12/12/09 09:22 AM
New FHA Guidelines Could Aid Condo Sales
New Federal Housing Administration condo-loan guidelines that took effect Dec. 8 could make it much easier for condo buyers to get a loan.
Under previous guidelines, half the units in a new condo development had to be sold before the FHA would underwrite a mortgage in the complex. New guidelines cut the requirement to 30 percent and raise the ceiling on FHA loans in a development to 50 percent from 30 percent.
The new rules also allow condo associations to turn down an accepted offer if they agree that it's too low-unless they will … (0 comments)

Defaults Could End Up Being a Boon - 12/12/09 09:18 AM
Defaults Could End Up Being a Boon
The increasing willingness to abandon home ownership in favor of renting could, in a counterintuitive way, be an important step in the economic recovery, some analysts say.
The U.S. home ownership rate has declined to 67.6 percent as of September, down from its peak of 69.2 percent in 2004. Much of the reason for this decline is the number of foreclosures.
Deutsche Bank Securities expects 21 million U.S. households to be underwater by the end of 2010. If 20 percent of these homeowners default, loses to banks and investors could exceed $400 billion.
While … (0 comments)

Home Values Have Been Stabilizing - 12/11/09 02:54 PM
Home Values Have Been Stabilizing
U.S. homes lost $489 billion in value during the first 11 months of 2009. That's significantly less than the $3.6 trillion lost during 2008 and evidence that home values are stabilizing, says Zillow.com, online real estate research firm.
Properties in 48 of the 154 markets tracked by Zillow rose in value this year, but Zillow's Chief Economist Stan Humphries believes prices could decline again in 2010.
"We believe that demand will come under downward pressure as mortgage rates creep back up after the first quarter and that housing supply will experience upward pressure as the volume … (0 comments)

Bernanke Promises Low Rates - 12/11/09 02:50 PM
Bernanke Promises Low Rates
Federal Reserve Chair Ben Bernanke said Monday that he could make no guarantees that the current economic recovery will last, but he promised to keep interest rates at low levels for "an extended period."
Central bank officials will discuss monetary policy when they meet Dec. 15-16.
Bernanke, who was speaking to the Economic Club of Washington, D.C., is seeking a second term. He provided a light-hearted answer to the question, "What do you like best about being Fed chief?"
"I get to go through the security lines at the airport much more quickly, and I can take … (0 comments)

IRS Sets New Rules for Tax Credit - 12/11/09 02:49 PM
IRS Sets New Rules for Tax Credit
The IRS has spelled out guidelines for eligibility for the home buyer credit when co-borrowers purchase a property.
When a home-owning parent of an adult child co-signs for a mortgage and both names appear on the note, the IRS says that under some circumstances, the first-time home buyer can qualify for the whole amount.
The IRS says the parent doesn't qualify for any portion of the credit, but if the child hasn't owned a home during the three years preceding the current purchase and can qualify based on income, he or she can be … (0 comments)

Banks Start to Embrace Short Sales - 12/11/09 02:47 PM
Banks Start to Embrace Short Sales
Even before the government put pressure on them to embrace short sales, more banks were starting to take their lumps, do the short-sale deals and move on.
Three years into the housing meltdown, short sales have tripled to 40,000 in the first six months of 2009, compared to the same time period a year ago, according to data from the Office of Thrift Supervision and the Office of the Comptroller of the Currency.
Wells Fargo, Bank of America Corp., and JPMorgan Chase & Co. this year have hired and trained more staff to handle short … (4 comments)

Mortgage Insurers Denying Claims - 12/11/09 02:43 PM
Mortgage Insurers Denying Claims
Mortgage insurers are increasingly likely to reject claims and hold lenders responsible for bad loans, says a report by Moody's Investors Service.
Insurers have rescinded about $6 billion in claims since January, after their reviews indicated that lenders failed to do due diligence when underwriting the loans during the peak years of the boom.
If these claims are successfully denied, the losses will be transferred to the banks, but Moody's says that many banks have already written off the majority of these bad loans.
Source: Reuters News, Al Yoon (12/04/2009)

GEE! - you think the banks … (0 comments)

Homes For Sale In Wantagh, New York – November 2006-2009 YTD Market Statistics - 12/07/09 07:34 AM
Homes For Sale In Wantagh, New York - November 2006-2009 YTD Market Statistics
  
The Average Days On Market of the Homes For Sale In Wantagh - November 2006-2009 YTD has been increasing for several years.
The Average Days On Market of Homes For Sale In Wantagh - November 2006-2009 YTD have increased by 22 market days.
This represents a 30% increase in the Average Days On Market of Homes For Sale In Wantagh - November 2006-2009 YTD.
 
The number of Closed Sales of Homes For Sale In Wantagh - November 2006-2009 YTD has been steadily decreasing over the past … (0 comments)

Homes For Sale In Seaford, New York – November 2006-2009 YTD Market Statistics - 12/07/09 07:31 AM
Homes For Sale In Seaford, New York - November 2006-2009 YTD Market Statistics
  
The Average Days On Market of the Homes For Sale In Seaford - November 2006-2009 YTD has been increasing for several years.
The Average Days On Market of Homes For Sale In Seaford - November 2006-2009 YTD have increased by 16 market days.
This represents a 19% increase in the Average Days On Market of Homes For Sale In Seaford - November 2006-2009 YTD.
 
The number of Closed Sales of Homes For Sale In Seaford - November 2006-2009 YTD has been steadily decreasing over the past … (0 comments)

Homes For Sale In Plainview, New York – November 2006-2009 YTD Market Statistics - 12/07/09 07:28 AM
Homes For Sale In Plainview, New York - November 2006-2009 YTD Market Statistics
  
The Average Days On Market of the Homes For Sale In Plainview - November 2006-2009 YTD has been increasing for several years.
The Average Days On Market of Homes For Sale In Plainview - November 2006-2009 YTD have increased by 31 market days.
This represents a 40% increase in the Average Days On Market of Homes For Sale In Plainview - November 2006-2009 YTD.
 
The number of Closed Sales of Homes For Sale In Plainview - November 2006-2009 YTD has been steadily decreasing over the past … (0 comments)

Homes For Sale In Merrick, New York – November 2006-2009 YTD Market Statistics - 12/07/09 07:24 AM
Homes For Sale In Merrick, New York - November 2006-2009 YTD Market Statistics
  
The Average Days On Market of the Homes For Sale In Merrick - November 2006-2009 YTD has been increasing for several years.
The Average Days On Market of Homes For Sale In Merrick - November 2006-2009 YTD have increased by 29 market days.
This represents a 34% increase in the Average Days On Market of Homes For Sale In Merrick - November 2006-2009 YTD.
 
The number of Closed Sales of Homes For Sale In Merrick - November 2006-2009 YTD has been steadily decreasing over the past … (0 comments)

Homes For Sale In Massapequa, New York – November 2006-2009 YTD Market Statistics - 12/07/09 07:20 AM
Homes For Sale In Massapequa, New York - November 2006-2009 YTD Market Statistics
  
The Average Days On Market of the Homes For Sale In Massapequa - November 2006-2009 YTD has been increasing for several years.
The Average Days On Market of Homes For Sale In Massapequa - November 2006-2009 YTD have increased by 11 market days.
This represents a 13% increase in the Average Days On Market of Homes For Sale In Massapequa - November 2006-2009 YTD.
 
The number of Closed Sales of Homes For Sale In Massapequa - November 2006-2009 YTD has been steadily decreasing over the past … (0 comments)

Homes For Sale In Levittown, New York – November 2006-2009 YTD Market Statistics - 12/07/09 07:17 AM
Homes For Sale In Levittown, New York - November 2006-2009 YTD Market Statistics
  
The Average Days On Market of the Homes For Sale In Levittown - November 2006-2009 YTD has been increasing for several years.
The Average Days On Market of Homes For Sale In Levittown - November 2006-2009 YTD have increased by 17 market days.
This represents a 21% increase in the Average Days On Market of Homes For Sale In Levittown - November 2006-2009 YTD.
 
The number of Closed Sales of Homes For Sale In Levittown - November 2006-2009 YTD has been steadily decreasing over the past … (0 comments)

Homes For Sale In Hicksville, New York – November 2006-2009 YTD Market Statistics - 12/07/09 07:14 AM
Homes For Sale In Hicksville, New York - November 2006-2009 YTD Market Statistics
  
The Average Days On Market of the Homes For Sale In Hicksville - November 2006-2009 YTD has been increasing for several years.
The Average Days On Market of Homes For Sale In Hicksville - November 2006-2009 YTD have increased by 29 market days.
This represents a 40% increase in the Average Days On Market of Homes For Sale In Hicksville - November 2006-2009 YTD.
 
The number of Closed Sales of Homes For Sale In Hicksville - November 2006-2009 YTD has been steadily decreasing over the past … (0 comments)

Homes For Sale In Farmingdale, New York – November 2006-2009 YTD Market Statistics - 12/07/09 07:11 AM
Homes For Sale In Farmingdale, New York - November 2006-2009 YTD Market Statistics
  
The Average Days On Market of the Homes For Sale In Farmingdale - November 2006-2009 YTD has been increasing for several years.
The Average Days On Market of Homes For Sale In Farmingdale - November 2006-2009 YTD have increased by 8 market days.
This represents a 8% increase in the Average Days On Market of Homes For Sale In Farmingdale - November 2006-2009 YTD.
 
The number of Closed Sales of Homes For Sale In Farmingdale - November 2006-2009 YTD has been steadily decreasing over the past … (0 comments)

Homes For Sale In Elmont, New York – November 2006-2009 YTD Market Statistics - 12/07/09 07:08 AM
Homes For Sale In Elmont, New York - November 2006-2009 YTD Market Statistics
  
The Average Days On Market of the Homes For Sale In Elmont - November 2006-2009 YTD has been increasing for several years.
The Average Days On Market of Homes For Sale In Elmont - November 2006-2009 YTD have increased by 41 market days.
This represents a 47% increase in the Average Days On Market of Homes For Sale In Elmont - November 2006-2009 YTD.
 
The number of Closed Sales of Homes For Sale In Elmont - November 2006-2009 YTD has been steadily decreasing over the past … (0 comments)

Homes For Sale In East Meadow, New York – November 2006-2009 YTD Market Statistics - 12/07/09 07:05 AM
Homes For Sale In East Meadow, New York - November 2006-2009 YTD Market Statistics
  
The Average Days On Market of the Homes For Sale In East Meadow - November 2006-2009 YTD has been increasing for several years.
The Average Days On Market of Homes For Sale In East Meadow - November 2006-2009 YTD have increased by 26 market days.
This represents a 33% increase in the Average Days On Market of Homes For Sale In East Meadow - November 2006-2009 YTD.
 
The number of Closed Sales of Homes For Sale In East Meadow - November 2006-2009 YTD has … (0 comments)

Homes For Sale In Bellmore – November 2006-2009 YTD Market Statistics - 12/06/09 10:52 AM
Homes For Sale In Bellmore - November 2006-2009 YTD Market Statistics
  
The Average Days On Market of the Homes For Sale In Bellmore - November 2006-2009 YTD has been increasing for several years.
The Average Days On Market of Homes For Sale In Bellmore - November 2006-2009 YTD have increased by 20 market days.
This represents a 23% increase in the Average Days On Market of Homes For Sale In Bellmore - November 2006-2009 YTD.
 
The number of Closed Sales of Homes For Sale In Bellmore - November 2006-2009 YTD has been steadily decreasing over the past several years.
… (0 comments)

Personal Service Pays in This Market - 12/04/09 04:14 PM
Personal Service Pays in This Market
In areas where home sales can drag on, some real estate pros are taking on tasks that help reduce clients' stress from the seemingly endless process and make the home more appealing.
For instance, Natalie C. M***** and Eileen B. H***** of ***** Realty in *****, N.Y., regularly made dinner for one client with several children while the parents were out of the home during showings. The buyers said the "homey feeling" of dinner on the stove was definitely a factor in their purchase of the $290,000 home.
Ed S*****, an associate with ***** … (0 comments)

Option-ARM Borrowers Facing Resets - 12/04/09 11:12 AM
Option-ARM Borrowers Facing Resets
About 93 percent of option-ARM buyers chose to pay a minimum amount less than the interest due, according to a report released last week by Standard & Poors. That means that nearly all of the 350,000 option-ARM borrowers now owe more than they owed when they first purchased their homes.
Many of these loans were written in 2004 and are close to their five-year reset when the loans convert to a standard amortization. Some more recent loans will reset early if the accumulated interest has pushed the loan-to-value ratio above 110 percent.
In one example outlined in … (3 comments)

Government Announces Short Sales Guidelines - 12/04/09 11:10 AM
Government Announces Short Sales Guidelines
The U.S. Treasury Department announced new guidelines this week designed to make short sales go more smoothly.
To qualify under these new guidelines:
The property must be the home owner's principal residence. The home owner must be delinquent on the mortgage or close to defaulting. The loan must have been made before Jan. 1, 2009, and be for less than $729,750. The borrowers' total monthly mortgage payment must exceed 31 percent of their before-tax income. Under the plan, borrowers will receive $1,500 from the government for selling homes for less than the amount of their mortgages. … (3 comments)

New Home Sales Rise in October - 12/02/09 10:38 AM
New Home Sales Rise in October
New home sales rose 6.2 percent in October compared to September, according to a report released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development.
This increase was 5.1 percent above the October 2008 level.
"New-home sales are what I am focusing on because they are the ones that are going to drive" gross domestic product, said Cameron Findlay, chief economist at LendingTree.com.
The median sale price of new homes was $212,200 in October with an estimated 239,000 units available at the end of that month, a 6.7-month inventory, according … (0 comments)

Should Underwater Borrowers Stay or Go? - 12/02/09 10:35 AM
Should Underwater Borrowers Stay or Go?
As you read the information and opinions below - ask yourself what would you do?
Is your word worth anything?
When you agree to do something - should you keep your side of the bargainor only when it is convenient?
What are you teaching your kids about commitment (hard or easy as they may be) when you walk away from your commitments?
Where does your morale compass point?
Did you not know what you signed and agreed to?
Is your moral soul worth so little that you would sell it for a few dollars?
… (11 comments)

How to Get the Best REO Deal - 12/02/09 10:23 AM
How to Get the Best REO Deal
REO and short-sale properties can be money pits when offers take forever to close and vacant properties are trashed.
Here are some suggestions for expediting the deals:
The best short-sale deals are those where the bank has pre-approved the sale price. The property may still take a long time to close, but not as long as it would otherwise. Buyers of a short-sale should be prepared for multiple offers. If the short-sale property is an attractive one, the lender will continue to market the property even after signing a sales contract. And if it … (0 comments)

Nine Consecutive Gains for Pending Home Sales - 12/02/09 10:22 AM
Nine Consecutive Gains for Pending Home Sales
Pending home sales have risen for nine months in a row, a first for the series of the index since its inception in 2001, according to the NATIONAL ASSOCIATION OF REALTORS®.
The Pending Home Sales Index, a forward-looking indicator based on contracts signed in October, increased 3.7 percent to 114.1 from 110.0 in September, and is 31.8 percent above October 2008 when it was 86.6. The rise from a year ago is the biggest annual increase ever recorded for the index, which is at the highest level since March 2006 when it was 115.2.
… (0 comments)

Harvard Economist Predicts Prices Will Stay Low - 12/02/09 10:19 AM
Harvard Economist Predicts Prices Will Stay Low
Harvard University economist Edward Glaeser discusses with Money Magazine where home prices will move next. He argues that older, colder cities are unlikely to come back because their initial growth was tied to transportation costs. Now that few goods are moved by water, their productivity - and number of residents - has declined.
Today, cities are likely to grow because they are located in warm areas where people want to live, Glaeser says. Cities like Atlanta, Dallas, and Houston that have a vibrant economy and a lenient building environment have gone through the housing … (4 comments)

Predictions on Future Mortgage Rates - 12/02/09 10:16 AM
Predictions on Future Mortgage Rates
What will happen to mortgage rates if the Federal Reserve stops buying mortgage-backed securities next March?
If and when that program ends, mortgage rates will rise, but most financial observers say it is very likely they won't skyrocket.
Keith Gumbinger, a vice president at financial publishers HSH Associates, predicts that the end of Fed intervention will push rates up about three-quarters of a point for a 30-year conforming loan-somewhere in the mid-5 percent range. By late 2010, Gumbinger says the rate will be closer to 6 percent.
Michael Larson, a real estate analyst at Weiss Research, … (0 comments)

Homes For Sale In Glendale, New York - 12/01/09 04:06 PM
Homes For Sale In Glendale, New York - MLS# 2215176 - $589,999.
 


 
 
 
 
 
 
 
 
 
Detached Legal Two Family Colonial Offers 4 - 5 Bedrooms, 2 Eat-In-Kitchens, 2 Living Rooms, Dining Room Or Another Bedroom, 3 Car Garage, Full Unfinished Basement With A New Hot Water Heater, Updated Electric, Close To Transportation - Trains And Buses, Gas - Steam Heat.
 
 

 
 
 
 
 
 
 
 
 
Home Characteristics - Style: Colonial, Rooms: 9, Bedrooms: 4, Bathrooms: 2, Appearance: Excellent, Year Built: 1920, School District: #24 Community … (0 comments)

Homes For Sale In Levittown, New York - 12/01/09 03:39 PM
Homes For Sale In Levittown, New York - MLS# 2238227 - $299,999.
 

 
 
 
 
 
 
 
 
 
Beautiful Upated Cape Offers New Eat-In-Kitchen, Living Room, 3 to 4 Bedrooms, New Windows, New Siding, New Roof, New Front Doors, New Side Doors, New Carpeting, Updated Bath, Above Ground Oil Tank, Attic.
 

 
 
 
 
 
 
 
 
 
Home Characteristics - Style: Cape, Rooms: 5-6, Bedrooms: 3-4, Bathrooms: 1, Appearance: Mint, Year Built: 1948, School District: #5 Levittown, Taxes: $8,970. 
Rooms - Eat-In-Kitchen: Yes, Dining Room: No, Den: No, Office: No, Basement: None, … (0 comments)

Homes For Sale in Wantagh, New York - 12/01/09 03:06 PM
Homes For Sale in Wantagh, New York - MLS# 2241498 - $434,000.

 
 
 
 
 
 
 
 
 
 
 
Spacious Expanded Brick & Vinyl Cape Nestled On Oversized Property Offers An Updated Kitchen, Formal Dining Room, Large Family Room With A Ceramic Tiled Floor And A Fireplace, 3 Bedrooms Plus An Unfinished Room That Could Be A Fourth Bedroom, Updated Bath, Glowing Hardwood Floors, New Windows, Throughout, Solar Energy Panels On The Roof To Reduce Your Electric Bills, Central Air Conditioning, 2.5 Car Detached Garage, Partly Finished Basement, Oil Tank And Burner In Basement.
 

 
 
 
 
 
 
… (2 comments)

 
Andy Yakubovsky (Century 21 Prevete Real Estate)

Andy Yakubovsky

Wantagh, NY

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Century 21 Prevete Real Estate

Address: 3344 Jerusalem Avenue, Wantagh, NY, 11793

Office Phone: (516) 826-2000 x 11

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