Saturday, January 26, 2013 / by June Quilantang
The pace of residential real estate sales picked up considerably in 2012 in the four counties of the lower Hudson region – Westchester, by the Real Estate Experts (Realtor) firms
The Realtors reported a regional sales aggregate of 11,481 residential units consisting of single-family houses, condominiums, cooperatives, and in the case of Westchester, 2-4 family buildings as well. This was a 15% increase over 2011’s total of 9,973 sales, and it arrested the steady decrease in annual sales that commenced in 2004 and continued through most of the subsequent period to date.
Westchester, the most populous of the counties, and historically accounting for about two-thirds of the total sales activity in the region, posted a 14% gain in sales over 2011. The highest percentage sales increases were posted in the single-family house sector. In Westchester, where house sales picked up by 16%, that performance was bested by a 20% increase in condominium sales.
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Saturday, January 12, 2013 / by Rummy Dhanoa
Following last week's burst of major economic headlines, which were mostly negative for mortgage rates, there was very little market moving news this week. Mortgage rates reversed a portion of last week's increases, ending the week a little lower.
After last week's fiscal cliff deal, Fed meeting, and Employment data, this week's news had little impact on mortgage rates. Very little economic data came out this week, and the results for the Treasury auctions were close to average. A meeting of the European Central Bank (ECB) produced no surprises. In short, after weeks of high volatility, daily mortgage rate movements were relatively small this week.
The much anticipated Qualified Mortgage regulation was released this week by the CFPB. This rule, when first proposed, caused concern in the housing industry for how its requirements might overly restrict mortgage availability. As released, though, it should have very little impact on mortgage availability, and much of what will be requi ...
Saturday, January 5, 2013 / by Rummy Dhanoa
The American Tax Payer Relief Act was signed into law by the President on January 2, 2013. This new legislation is significant to us because it will extend the Mortgage Forgiveness Debt Relief Act for one more year.
This means that homeowners which choose to go through the short sale process can continue to take advantage of this legislation for another year in hopes of preventing foreclosures.
Friday, January 4, 2013 / by June Quilantang
New post body.
Saturday, December 29, 2012 / by June Quilantang