Bloomberg News reports that Senate Banking Committe Chairman Christopher Dodd is pushing to extend and expand the $8000 home buyer tax credit that is scheduled to expire next month.
Senator Dodd from Connecticut and Senator Isakson from Georgia are urging colleagues to extend the credit through next June and expand it to all couples earning $300,000 or less.
The Mortgage Bankers, National Association of REALTORS and National Association of Homebuilders are all backing the extension.
Oct 21, 2009
Oct 19, 2009
30-Year Fixed Rate Still Below 5 Percent
In its Primary Mortgage Market Survey for the week ending October 15, 2009, Freddie Mac reported that the 30-year fixed-rate mortgage (FRM) averaged 4.92 percent with an average 0.7 point, up from last week when it averaged 4.87 percent. In the Northeast, the 30-year FRM averaged 4.92 percent.
To read the entire Freddie Mac press release, click here.
To read the entire Freddie Mac press release, click here.
Oct 5, 2009
NYC 2.0: User Friendly New York City
New York City introduced a series of technology programs to transform the ways in which New Yorkers can interact with – and expect the delivery of services from – City government.New York City, a pioneer in using technology to improve public services, and to make City government more accessible, accountable and efficient will now utilize existing social networks, expanding language access, and consolidating data centers.
They include providing a new iPhone application for New Yorkers to report issues and send photos to 311 with specific location details using GPS technology. New Yorkers can submit select quality-of-life complaints – with an option to attach pictures – to 311 via their iPhones.
The new, free iPhone app will streamline the process by allowing New Yorkers to report complaints to 311 using a program that identifies the user, determines the specific location of the condition reported using GPS technology, and allows easy uploads of photos.
This functionality will be expanded to other mobile phones, and enhanced so that any New Yorker can check the status of previously-reported issues.
The City has also recently moved 311 into the social networking space, with ‘311NYC’ now on Twitter. More content from 311 and NYC.gov will be distributed via social networking as 311 will start to receive feedback, questions and concerns from customers via Twitter.
The City will also help to develop neighborhood “wikis” – collaborative websites whose content can be edited by users – to share ideas for how technology could be leveraged to solve everyday problems faced by New Yorkers living and working in different communities across the city.
“MyNYC.gov,” a customized version of the City’s website NYC.gov based on users’ needs and preferences. MyNYC.gov will feature an optional, customized dashboard for quick and centralized access to information relevant to the user, with contact information automatically populating forms.
Oct 4, 2009
Washington Heights: Neighborhood Report
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| George Washington Bridge |
Washington Heights, which runs from 155th Street to Dyckman Street from river to river, is a bustling urban area with a busy commercial center.
Washington Heights is known for it's five and six-story prewar and post war apartment buildings including Lafayette Gardens at 330-40 Haven Avenue. Washington Heights has Art-Deco and Tudor-style coops, row houses, and post war brick buildings.
Great shopping and dining - there's everything from bodegas to bakeries to bars available along Broadway, St. Nicholas Avenue and 181st Street.
The area's easy access to transport - it's just 20 minutes to Penn Station on the 'A' train - are advantages as well.
In Colonial times, this was the country: the place where wealthy New Yorkers came to build private escapes. Manhattan's oldest house the Morris-Jumel mansion, which served as General Washington’s headquarters in the fall of 1776 still stands at 160th Street.
Today Washington Heights is a value neighborhood. It is a great neighborhood for folks who have been priced out of downtown yet it is still on the island.
Current prices range from $275,000 to $375,000 for 1 bedroom coops and condos. Two bedroom coops and condos range from $400,000 to $725,00. Some 3 and 4 bedroom apartments are in $1 million plus range.
Beautiful Fort Tryon Park includes the Cloisters, a museum of medieval buildings imported stone-by-stone by collectors. and breathtaking views of the George Washington Bridge and the Hudson River.
So take the A train up to 181st street in Washington Heights to enjoy a great residential neighborhood and an affordable apartment.
From the Hit Broadway Musical: In The Heights
Click here to sell your Manhattan apartment or to find out how much your home is worth in today's market.
Oct 2, 2009
Manhattan 3rd Quarter Corcoran Report
"Buyers have realized meaningful price reductions since last year". The 3rd quarter Corcoran Report analysis of the Manhattan housing market is now available.
The Corcoran Report, in collaboration with Property Shark, is the industry standard for measuring the pulse of the real estate market.
Median price came in at $799,000, down 18%, with price per square foot falling 14% to $1,012.
Oct 1, 2009
"The Deadly Sins of Home Sellers"
"What Seller's Should Not Do When Trying To Sell Their Home"
"The Deadly Sins of Home Sellers"
by Barbara Corcoran
(September 22nd on the Today Show)
"The Deadly Sins of Home Sellers"
by Barbara Corcoran
(September 22nd on the Today Show)
- Not Countering an Offer
- Waiting for a Better Offer
- Hanging around during an Open House
- Limiting Hours for Showings
- Leaving Closets a Mess
- Not making Needed Repairs
- Not getting rid of Clutter
- Haggling over the Price of Personal items
- Discounting the Broker's Fee
- Removing the Furniture or not Staging a Property
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