June 8, 2015 rummy

Where Will Mortgage Rates Be in 12 Months?   One of the biggest questions plaguing the current housing market is where mortgage interest rates will be at this time next year. Over the last two months, rates have begun to creep up (see chart). Though we don’t like to project rates moving forward, we do want you and your family to have the information you need in order to decide whether to wait before buying your first house or moving up to your ultimate dream home. Here are the most current mortgage rate projections from Fannie Mae, Freddie Mac, the…

June 1, 2015 rummy

Jonathan J. Miller, the president of the appraisal firm Miller Samuel shared his sentiments on selling at this time of the year: “Based on the number of contracts signed each month, the spring is still the ‘Super Bowl’ of annual real estate sales,” June is annually the top month for the number of contracts signed, which means the properties themselves were likely listed in May. Overall, June yields 90 percent more sales than December.   Here are five good reasons to make the decision to Sell:   1. Beautiful weather makes everyone a little happier. “May weather is ideal for…

April 29, 2015 rummy

Recently, Freddie Mac published a blog post titled Mortgage Rates: Still the Deal of the Century. They explained that, if you are planning to purchase a home, now may be the time: “If you are in the market to buy a home, today’s average mortgage rates are something to celebrate compared to almost any year since 1971.” And they let their readers know that there is no guarantee that rates will remain this low: “Over the past few years, we’ve enjoyed a long run of historically low mortgage rates. While no one expects them to change dramatically overnight, they are…

April 8, 2015 rummy

Yonkers, NY Named One of Livability.com’s Top 10 Healthiest Cities, 2015 Inaugural list identifies and ranks America’s healthiest cities         There are two parts to every great healthy city. The first is access to quality and affordable health care. The second is promoting and enabling a healthy lifestyle for its residents through infrastructure and amenities. With this in mind, Livability.com has named Yonkers a Top 10 Healthiest City, 2015. Yonkers provides residents with exercise opportunities, good food choices and strong support networks to help live healthy lives.   Our editors looked at data compiled by the County Healthcare Rankings as…

March 17, 2015 rummy

A recent Demand Institute report revealed “nearly half of all American households plan to move at some point in the future.” Seventy-five percent of those surveyed in the report cited one or more ‘location-related reasons’ for their eagerness to move. Here are the top 5 reasons: 1. Safer Neighborhood – 30% 2. Closer to Family – 27% 3. Change of Climate – 26% 4. Closer to Work – 25% 5. For a New Job – 23% While the majority of Americans (74%) will move within their home state, for the 26% planning to call a new state home, it is…

March 4, 2015 rummy

A Westchester town took top honors in a well-known real estate website’s recent 10 Best Places To Live in New York list. Movoto.com — a real estate website known for its catchy, algorithm-based top 10 lists — ranked Mamaroneck as the best town in New York state to live in. In addition, Westchester towns made up 9 of the top 10 spots on the real estate website’s list. Steve Altieri, Mamaroneck town administrator, said that Mamaroneck’s diverse population, community volunteerism, and coastal location were among the town’s finer points. “Mamaroneck is a coastal community, only 35 minutes from New York…

February 23, 2015 rummy

If you are planning on becoming a homeowner, or moving up to the home of your dreams in 2015, here are four great reasons to consider buying a home now, instead of waiting until spring. 1. Prices Will Continue to Rise The Home Price Expectation Survey polls a distinguished panel of over 100 economists, investment strategists, and housing market analysts. Their most recent report projects appreciation in home values over the next five years to be between 11.7% (most pessimistic) and 27.5% (most optimistic). The bottom in home prices has come and gone. Home values will continue to appreciate for…

February 17, 2015 rummy

Many believed that when the housing market crashed, so too would the desire of American’s to own a home again. Many reports have shown that, especially among younger generations, the American Dream of homeownership is still very much alive. Julián Castro, Secretary for HUD, recently summed up what it means to own a home in a speech at the National Press Club. “Homeownership is still the cornerstone of the American Dream — a fact you can see in the lives of everyday folks. It’s a source of pride. It’s a source of wealth, providing both a nest and a nest…

February 12, 2015 rummy

Over the last six years, homeownership has lost some of its allure as a financial investment. As homeowners suffered through the housing bust, more and more began to question whether owning a home was truly a good way to build wealth. Every three years the Federal Reserve conducts a Survey of Consumer Finances in which they collect data across all economic and social groups. Some of the findings revealed in their report: §The average American family has a net worth of $81,200 §Of that net worth, 61.4% ($49,856) of it is in home equity §A homeowner’s net worth is over 36 times…