September 13, 2017 rummy

                                                  948 Clarence Avenue, Bronx NY 10465 Exclusive OFF Market Listing -Legal 2 Family Home w/ In-law Setup -4,000 Sq. Ft -1 Attached Garage, 2 Car Parking -One Of A Kind Super Large Multi-family -3 bedroom 1 ½ Bath with Scenic View of Long Island Sound! -3 Beds, 1 ½ Bath -1 Bedroom, 1 ½ Bath, with Studio -1 Possible Unit with 2 Rooms & Bath ​-Sitting Right On Throgs Neck in the Country Club Section…

December 28, 2016 rummy

Every three years, the Federal Reserve conducts a Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey, which includes data from 2010-2013, reports that a homeowner’s net worth is 36 times greater than that of a renter ($194,500 vs. $5,400). In a Forbes article, the National Association of Realtors’ (NAR) Chief Economist Lawrence Yun predicts that by the end of 2016, the net worth gap will widen even further to 45 times greater. The graph below demonstrates the results of the last two Federal Reserve studies and Yun’s prediction: Put Your…

April 20, 2016 rummy

The housing market is really heating up and buyer demand is dramatically increasing as we enter the spring season. However, one challenge to the current market is a major shortage of inventory. Below are a few comments made in the last month by industry experts. Lawrence Yun, Chief Economist of NAR “Looking ahead, the key for sustained momentum and more sales than last spring is a continuous stream of new listings quickly replacing what’s being scooped up by a growing pool of buyers. Without adequate supply, sales will likely plateau.” Jonathan Smoke, Chief Economist of Realtor.com “Low inventories and tight…

April 5, 2016 rummy

  There are some renters that have not yet purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent free, you are paying a mortgage – either your mortgage or your landlord’s. As The Joint Center for Housing Studies at Harvard University explains: “Households must consume housing whether they own or rent. Not even accounting for more favorable tax treatment of owning, homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord plus a rate…

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…

September 18, 2014 rummy

Know what to expect and when, while obtaining financing for a home, the first step in getting Pre-approved with your Lender.   Stage 1: Get Pre-Approved: What You Need to Do – You will have a discussion with your Lender and be providing  them with Preliminary Documents. How Long Will It Take? – The discussion will take 10-15 minutes and shortly after your documents are received, you will be issued a loan pre-qualification letter. What’s Happening Behind The Scenes – Your credit and documents provided will be reviewed to be sure you qualify for the loan. You will then be…

September 19, 2013 rummy

A year ago, before the bandwagon was even built, we told you about what  we called “shadow consumers”. They are people who would want to buy;  they can comfortably afford home ownership most especially with today’s  rates. However, they have to calmly wait for their credit to improve  sufficient to get a mortgage. FHA would not give a loan until the elapse of three years from the occurrence of a foreclosure. Basically,  foreclosures and short sales will usually remain on your credit report  for seven years. Additionally, bankruptcies usually last for 10 years.  Waiting for this long can be quite…

June 18, 2011 rummy

There was a lot of volatility during the middle of the week, but mortgage rates ended nearly unchanged. Weak manufacturing data offset higher than expected inflation readings. Similarly, increased social unrest in Greece early in the week was balanced by renewed hopes on Friday for a quick solution to Greece’s debt problems. The current economic outlook, which includes expectations for tame inflation, has supported low mortgage rates. The monthly inflation reports released this week caused investors some concern, however. The May Consumer Price Index (CPI) rose 0.2% from April, which was above the consensus forecast, and CPI was 3.6% higher…

June 11, 2011 rummy

Little Change in Mortgage Rates While mortgage rates reached a new low for the year during the middle of the week, they ended nearly unchanged. It was a light week for economic data, and demand for the Treasury auctions was close to average, so investors had little reason to alter their outlooks. Economic growth during the first half of the year has been slower than expected, and the consensus economic outlook is for just a modest pick up in growth later in the year, with continued low inflation. This week’s Beige Book confirmed that economic growth is moderate in most…