Century 21 Best,Inc

09/20/2013

Rising mortgage rates won’t neccessarily push up home prices
Sep 20, 2013

There’s “no major correlation” between mortgage rates and home prices, although abrupt increases can have short-term impacts, Fannie Mae Chief Economist Douglas Duncan tells the Wall Street Journal’s Nick Timiraos, who looks at “What rising interest rates mean for home prices,” on the Developments blog.

The big question for real estate brokers and agents is what happens to home sales. Core Logic data shows applications for purchase mortgages haven’t changed much during the last two years, as falling mortgage rates helped offset the impact of rising home prices.

When mortgage rates climbed rapidly from 7.1 percent to 9.2 percent in 1994, that slowed the housing recovery in progress at the time, Timiraos notes. “If higher rates stick, it remains to be seen just how quickly buyers and sellers will adjust to that over the next few months.” Source:blogs.wsj.com.

09/17/2013

511 Old Westbury Rd
Roslyn Heights
$1,250,000

• Style: Ranch
• Rooms: 10
• Bedrooms: 4
• Baths Full: 3
• Baths Half: 0
• Wood Floors:
• New Construction: N
• Year Built: 1948
• # Families: 1
• Waterfront: N
• Waterview: N
• Waterfront Desc:
• Lot Size: 217X240
• Section Area:
• Adult Community: N
• Min Age:
• Basement: Full Fin: Y
• Garage: 2
• Taxes: $31,217.05
• Village Taxes:
• Total Taxes: $31,217.05
• School District: 3
Roslyn
• Handicap Access:

Bsmt/Subfl: Full Finish, Laundry, Steam Sauna, 2 Add Rms.
1st Floor: Ef, Lr, Fdr, Eik, Master Br W/ Master Bath, 3 Br, Full Bath.
2nd Floor:
3rd Floor:

A Very Beautiful 1 Unit Det, With 2 Car Garage. Gourmet Kitchen With Granite Countertops And Marble Flooring, Very Excellent Great Room. Open Floor Plan. Easy Access To Major Highways. A+ School District, Roslyn Heights Residents Eligible To Use The Amenities At The Park At East Hills.
Multiple Listing #: 2605333

To See This Property, Call:
Faiez Farishta
Century 21 Best Inc
(718)446-1300

09/17/2013

Tapering could threaten ‘already feeble’ recovery
Sep 16, 2013

The Federal Reserve is expected to announce Wednesday that it will begin tapering its $85 billion-a-month purchases of Treasurys and mortgage-backed securities. The purchases have helped keep interest rates low, but mortgage rates have been heading up since Fed Chairman Ben Bernanke telegraphed plans for tapering in May.

“Despite assurances that the stimulus would be withdrawn gradually and that interest rates would not rise any time soon, investors have been pricing in a turning point in the financial cycle,” Reuters reports. “If yields shoot even higher after this week’s Fed meeting, confidence will be rattled, the already feeble housing-driven U.S. recovery could stumble and investors in emerging economies might again start rushing for the exit.”

Fed watchers including Pimco’s Mohamed El-Erian expect the Fed to taper its asset purchases by $10 billion to $15 billion — not because the economy is back, but because the risks of continuing the program are starting to outweigh the rewards. El-Erian told CNBC today that he thinks weakness in the economy will prevent interest rates from rising even as the Fed continues to taper next year.

Separately, the Fed has promised to keep the short-term federal funds overnight rate close to zero until employment picks up significantly. News that former Treasury Secretary Lawrence Summers has withdrawn from consideration as Bernanke’s successor has investors betting that the federal funds rate won’t be hiked until December 2014, Reuters reports. Last Friday, traders thought there was a better-than-even chance of a rate hike in October, 2014. Source: reuters.com.

Tapering could threaten ‘already feeble’ recovery Sep 16, 2013 The Federal Reserve is expected to announce Wednesday that it will begin tapering its $85 billion-a-month purchases of Treasurys and mortgage-backed securities. The purchases have helped keep interest rates low, but mortgage rates have b...

09/16/2013

511 Old Westbury Rd
Roslyn Heights
$1,250,000

• Style: Ranch
• Rooms: 10
• Bedrooms: 4
• Baths Full: 3
• Baths Half: 0
• Wood Floors:
• New Construction: N
• Year Built: 1948
• # Families: 1
• Waterfront: N
• Waterview: N
• Waterfront Desc:
• Lot Size: 217X240
• Section Area:
• Adult Community: N
• Min Age:
• Basement: Full Fin: Y
• Garage: 2
• Taxes: $31,217.05
• Village Taxes:
• Total Taxes: $31,217.05
• School District: 3
Roslyn
• Handicap Access:

Bsmt/Subfl: Full Finish, Laundry, Steam Sauna, 2 Add Rms.
1st Floor: Ef, Lr, Fdr, Eik, Master Br W/ Master Bath, 3 Br, Full Bath.
2nd Floor:
3rd Floor:

A Very Beautiful 1 Unit Det, With 2 Car Garage. Gourmet Kitchen With Granite Countertops And Marble Flooring, Very Excellent Great Room. Open Floor Plan. Easy Access To Major Highways. A+ School District, Roslyn Heights Residents Eligible To Use The Amenities At The Park At East Hills.
Multiple Listing #: 2605333

To See This Property, Call:
Faiez Farishta
Century 21 Best Inc
(718)446-1300
Cell # 516-801-4437

09/16/2013

Foreclosure crisis barely impacted children’s academic performance: research
Sep 16, 2013

Recent studies suggest that the foreclosure crisis barely impacted children’s academic performance.

In fact, it’s possible that the foreclosure crisis may have even contributed to the academic development of some children, according to Ashlyn Aiko Nelson, an economist and professor at the Indiana University School of Public and Environmental affairs.

Foreclosure crisis barely impacted children’s academic performance: research Sep 16, 2013 Recent studies suggest that the foreclosure crisis barely impacted children’s academic performance.In fact, it’s possible that the foreclosure crisis may have even contributed to the academic development of som...

09/16/2013

Are first-time homebuyers really becoming more rare?
Sep 16, 2013

A flurry of recent press articles — in the Wall Street Journal, Bloomberg Businessweek and USA Today — that stated, all referencing data from the National Association of Realtors (NAR), that the percentage of first-time homebuyers purchasing homes has been dropping, prompted two Federal Reserve Bank of Atlanta economists to do their own analysis.

They found, using Census Bureau Microdata (October 1983 – September 2011), Campbell/Inside Mortgage Finance data (July 2009 – July 2013) and data from NAR’s Realtors Confidence Index (October 2008 – July 2013) and Profile of Homebuyers and Sellers (2001 – 2012), that the percentage of first-time homebuyers has not dipped appreciably in the years covered by the data.

The economists came to their conclusion after accounting for the spike in first-time homebuyers that occurred between July 2008 and September 2010 with the U.S. government’s First-time Home Buyer Tax Credit that gave qualifying first-time buyers up to a $8,000 tax credit on a home purchase.

Are first-time homebuyers really becoming more rare? Sep 16, 2013 A flurry of recent press articles — in the Wall Street Journal, Bloomberg Businessweek and USA Today — that stated, all referencing data from the National Association of Realtors (NAR), that the percentage of first-time homebuyers pur...