Long Island NY Real Estate
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Long Island NY Home Sales Numbers: Victim of Winter?

Long Island NY Home Sales Numbers: Victim of Winter? Long Island NY home sales have fallen to their slowest pace in nine months, with sales of existing homes tumbling 4.9 percent last month. Relatively low mortgage rates and steady job growth have not yet spurred the kind of activity from buyers or sellers, raising the possibility of either a spring rush, or another year of slack Long Island NY home sales. Nationwide, few properties are being listed for sale, would-be-buyers are holding off, and the harsh winter weather is taking its toll on attempts to hold open houses. Long Island NY Home Sales Expectations Not Happening Weaker Long Island NY home sales in 2014 had set up expectations of a strong rebound in 2015, but so far, that resurgence has yet to appear. Even the addition of more new jobs over the past three months has failed to make much of an impact on overall Long Island NY home sales. Builders haven t started ramping up any new construction either. Confidence among builders
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Selling a Long Island NY Home: Get an Inspection First

Selling a Long Island NY Home: Get an Inspection First There are lots of reasons for selling a Long Island NY home, but there are many reasons why getting the home inspected first can be a key selling feature to buyers. Why Get An Inspection Before Selling a Long Island NY Home? One of the biggest reasons for getting your home inspected before you even put it on the market is, it helps your buyers see you as an honest seller. This makes the process more amicable as fears of being swindled are reduced and a certain trust factor is established right up front. Getting a home inspection done if you re selling a Long Island NY home also protects your interests. Many people fear getting a home inspection because it may reveal detrimental things about the house that need to be fixed. On the other hand, it may uncover advantages in your home that enhance its value that no one knew about before. This gives you more power at the bargaining table. Imagine being able to increase your asking price
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Long Island NY Mortgage Mistakes: Will Lenders Ever Learn?

Long Island NY Mortgage Mistakes: Will Lenders Ever Learn? Since the mortgage crisis when loans became almost impossible to obtain, Long Island NY mortgage lenders have begun to loosen standards again. This begs to ask the question, will lenders ever learn their lesson from loose lending practices? Recently, the Federal Housing Administration (FHA) announced changes they hope will encourage banks to give more home loans to worthy but weaker borrowers. The government has extracted billions of dollars in penalties from lenders that made mistakes on loans to borrowers who later defaulted. The errors ranged from small mistakes to ones that affected the riskiness of the Long Island NY mortgage they chose to underwrite in the first place. Some banks, believing the penalties are too harsh relative to the errors made, have pulled back from originating a Long Island NY mortgage backed by the FHA and argue that the broad "certification" they must make when originating a Long Island NY mortgage
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Winter: Best Time To Be Selling a Long Island NY Home

Winter: Best Time To Be Selling a Long Island NY Home When is the best time to be selling a Long Island NY home? According to a new study by the real estate brokerage Redfin, homeowners who list their property for sale often find the winter season the most advantageous time to be selling a Long Island NY home. The winter season unofficially is considered to be the time between December 21st and March 20th. So if the Redfin study holds true for the best time to be selling a Long Island NY home, we re starting into the home stretch now, no pun intended. Listing a Long Island NY Home Now May Net More In an update to a two-year analysis it completed last year, Redfin researchers studied nationwide home listings, sales prices, and time-on-market data from 2010 through October 2014. According to Redfin s research, February is "historically the best month to list, with an average of 66 percent of those owners selling a Long Island NY home who listed then, selling within 90 days." Selling a L
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Can Starbucks Affect Long Island NY Home Values?

Can Starbucks Affect Long Island NY Home Values? Sounds like a ridiculous question, but can living near a Starbucks actually affect Long Island NY home values? According to a new book, "Zillow Talk: The New Rules of Real Estate" by Zillow CEO Spencer Rascoff and Chief Economist Stan Humphries, it just might. The pair write that Starbucks is actually the fuel for gentrification. "Starbucks equates with Venti-sized home-value appreciation," Humphries and Rascoff write. Moreover, Starbucks seems to be fueling — not following — these higher Long Island NY home values. Long Island NY Home Values Higher Near Starbucks To make the argument that Starbucks is actually causing this growth, rather than just piggybacking on it, the executives looked at homes within a quarter-mile of a Starbucks compared to those between a quarter-mile and half-mile away. The increase in the value of houses within a quarter-mile radius of a Starbucks outpaced those of Long Island NY home values slightl
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Buying a Long Island NY Home: Maximizing Your Money

Buying a Long Island NY Home: Maximizing Your Money When it comes to buying a Long Island NY home, there are things buyers need to be aware of. But if you re on the selling end, there are some Long Island NY home improvements you need to think about as well. A new Consumer Reports survey details many of the do s and don ts for those buying a Long Island NY home, as well as those selling a Long Island NY home. . We have more tips on buying a Long Island NY home, as well as tips on selling a Long Island NY home, in the two sections of Long Island NY Home Buying Tips and Long Island NY Home Selling Tips under the Long Island NY Real Estate Categories to your right. . And don t forget, we also post tips on selling and buying a Long Island NY home daily on Twitter and Facebook. Find us there as well. . The post Buying a Long Island NY Home: Maximizing Your Money appeared first on Best Buyers Broker.
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Existing Long Island NY Home Sales Increased in December

Existing Long Island NY Home Sales Increased in December According to figures from the National Association of Realtors, existing Long Island NY home sales increased in December, reaching an annual pace nationally of more than 5 million sales for the sixth time in seven months. Median home prices for last year reached their highest level since 2007 but the total number of sales dropped 3.1% compared to the previous year. The total number of existing Long Island NY home sales includes completed transactions for condominiums, co-ops, townhomes and single-family homes. Nationwide, this increased 2.4% to reach a seasonally adjusted annual rate of 5.04 million last month compared to 4.92 million in November. When compared to a year earlier, sales for last month were 3.5% higher. In total, there were 4.95 million sales for 2014 which is 3.1% less compared to 2013. The national median home price for existing homes was $208,500, the highest figure seen since 2007 when it reached $219,000. Thi
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Long Island NY Real Estate News – February 2015

Long Island NY Real Estate News February 2015 In our Long Island NY Real Estate News for February
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2015 Housing, Stock and Oil Predictions

2015 Housing, Stock and Oil Predictions In our last video report, we took a look at how Wall Street experts and people on Main Street fared in 2014 when it came to predicting what was going to happen to the stock market, oil prices, and housing prices. In this report, let s see what the experts and a few people on the street think will happen to Long Island NY housing, oil and the stock market, in 2015 . So what do you think the Long Island NY housing market will look like when we look back at 2015? . Remember we not only keep our site here updated on a regular basis about Long Island NY housing, but we also post daily to Twitter and Facebook as well. We d love to have you find and follow us there. . The post 2015 Housing, Stock and Oil Predictions appeared first on Best Buyers Broker.
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Long Island NY Home Improvements: Spending Drop Expected

Long Island NY Home Improvements: Spending Drop Expected Long Island NY home improvements have seen record spending over the past three years due to the resurgence in home equity over that period of time, but spending is set to soften in coming months. According to the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University, the center s index, the Leading Indicator of Remodeling Activity (LIRA), projects that annual growth in home improvement spending will decelerate from 6.3 percent in the first quarter of 2015 to 1.6 percent by the third quarter. Chris Herbert, Managing Director of the Joint Center says, "Homeownership rates continue to slide as lending remains tight and first-time homebuyers are not yet returning to the market." Growth in Long Island NY home improvements and remodeling spending is expected to drop somewhat in 2015 due partly to weakening home sales last year. However, the Federal Housing Administration s (FHA s) recent announcement
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2014 Housing Review: Who Was Smarter?

2014 Housing Review: Who Was Smarter? Last year, we got predictions from Wall Street experts and people on Main Street about what was going to happen to the stock market, oil prices, and housing prices. So who was smarter, the experts, or people on the street. Let s see who was right . In our next video report, we ll take a look at what the experts and people on the street think housing, stocks and oil will look like next year when we look back at 2015. . In the meantime, remember we not only update our site here on a regular basis, but we also post daily to Twitter and Facebook as well. We d love to have you find and follow us there for more Long Island NY housing news. . The post 2014 Housing Review: Who Was Smarter? appeared first on Best Buyers Broker.
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Buying Long Island NY Real Estate: Things to Consider

Buying Long Island NY Real Estate: Things to Consider If you re thinking about buying Long Island NY real estate, perhaps for the first time, we know it can seem like chaos trying to figure out all the things you have to do and the order you need to do them in. We re here to help with a list of things you might not ordinarily think about before buying Long Island NY real estate, but things you definitely should consider. Before Buying Long Island NY Real Estate You ve probably heard this 1,000 times. So make it 1,001. Get your credit score in order before starting the process of buying Long Island NY real estate. The higher your credit score, the lower your interest rate will be, which makes your mortgage payment smaller in the long run. If your credit score isn t looking too good (below 660), see if you can improve your finances and boost the score before shopping interest rates. As long as your credit score is above 580, you can always try for an FHA loan, which can save you some mo
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Setting a Budget This Year

Setting a Budget This Year Are you one of the many people who set New Year s resolutions each year, only to find that you ve strayed away from that goal by the end of January? If you ve resolved to setting a budget this year, here are three things you MUST do in order to achieve your budget goals for the year . We have more tips and articles for you when it comes to setting a budget and coping with the Long Island NY Economy by looking at that section under the Long Island NY Real Estate Categories to your right. And don t forget, we also post tips daily on Twitter and Facebook, sometimes pertaining to setting a budget, the Long Island NY economy, or the economy in general. Find us there as well. The post Setting a Budget This Year appeared first on Best Buyers Broker.
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Many Long Island NY Homebuyers Can Get Help

Many Long Island NY Homebuyers Can Get Help A study to make Long Island NY homebuyers realize they could qualify for a free down payment without hitting the jackpot and winning the lottery found that 87 percent of all U.S. homes qualify for down payment help. Long Island NY Homebuyers Need to Investigate Options Many Long Island NY homebuyers, especially Millennials, have not fully investigated their home financing options because they are pessimistic about qualifying for a mortgage. The Homeownership Program Index highlights the wide range and availability of down payment programs available to today s Long Island NY homebuyers. 91 percent of the 2,290 programs in the registry have funds available to lend to eligible homebuyers. Income limits vary depending on the market and programs extend beyond just first-time Long Island NY homebuyers. It s important for buyers to research down payment programs as part of their loan shopping process. Historically low homeownership rates across nea
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Your Income Taxes Thanks to Obamacare

Your Income Taxes Thanks to Obamacare When it comes to filing your income taxes this year, you ve probably already received all of your income tax forms in the mail, like your W-2 s, 1099 s and 1098 s (for deductible mortgage interest), and any others you might need for filing. You may have even filed your 2014 income taxes already. But what many filers who haven t filed yet may not be ready for this year is, just how Obamacare, aka The Affordable Care Act may affect their income taxes. . We have more income tax tips and articles in the Taxes section under the Long Island NY Real Estate Categories to your right. . . And don t forget, we also post tips daily on Twitter and Facebook, sometimes pertaining to Taxes and the Long Island NY economy, or the economy in general. Find us there as well.. . The post Your Income Taxes Thanks to Obamacare appeared first on Best Buyers Broker.
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Long Island NY Home Buyers Want These Features

Long Island NY Home Buyers Want These Features More millennials are expected to become Long Island NY home buyers this year, and they might have a wish list of features that set them apart from previous generations of house hunters. We have assembled a list of features that The Federal Savings Bank has also noted as being desired by Long Island NY home buyers, especially among millennials: Features Millennial Long Island NY Home Buyers Demand Separate laundry room. According to the National Association of Home Builders on January 26th, the No. 1 feature millennials demand is a separate laundry room. Many first-time Long Island NY home buyers said they would pass on houses that did not have this room. Several storage areas. Another must-have is plenty of storage, including a walk-in pantry and garage storage. This could give millennials more room to hold and organize their belongings after spending time renting in apartments or living with their parents. Energy-efficient technology and
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Long Island NY Housing Market: Will 3% Down Help?

Long Island NY Housing Market: Will 3% Down Help? Home ownership rates have hit the lowest level in 20 years as the Long Island NY housing market continues to struggle following the financial crisis. . Bloomberg s Erik Schatzker examines a proposal from President Barack Obama to incentivize the Long Island NY housing market . Can Obama s 3% solution awaken enough first time homebuyers to revive the Long Island NY housing market, or will the low down payment plan backfire and cause another housing crisis like we ve just emerged from? Time will tell, and we ll keep a sharp eye on the Long Island NY housing market for you right here at our site. Bookmark us now and come back often. . Don t forget, we post daily news, tips, and links over on Twitter, and we publish daily on our Facebook Page as well. . The post Long Island NY Housing Market: Will 3% Down Help? appeared first on Best Buyers Broker.
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First Time Long Island NY Home Buyer? Tax Considerations

First Time Long Island NY Home Buyer? Tax Considerations If you re a first time Long Island NY home buyer, there are some tax deductions you ll want to be sure not to miss when filing your taxes this year. If you re a long time seasoned Long Island NY homeowner, this probably won t be news to you. But a first time Long Island NY home buyer just might miss some of these deductions. What a Long Island NY Home Buyer Can Deduct Mortgage Interest A new mortgage means you ll have a little more paperwork when it s time to file your taxes. However, the extra work is usually pays off. Perhaps the most important tax deduction a Long Island NY home buyer needs to be aware of is the mortgage interest deduction. At year-end, check out Form 1098 from your lender to see how much mortgage interest you ve paid for the year. Mortgage Points Mortgage points are simply prepaid interest. You can buy points to lower your interest rate when you take out a mortgage. By purchasing points, you can save money i
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Income Tax Preparer Tricks of the Trade

Income Tax Preparer Tricks of the Trade Here comes February, and here comes income tax time again. It seems like every year, income tax preparation companies try to find new ways to separate you from your money by not telling you everything. For example, if you made less than $53,000 last year, you can get your taxes prepared for you absolutely free of charge. Think tax preparers are going to tell you this? There are more income tax tips in this video . We have more income tax tips and articles in the Taxes section under the Long Island NY Real Estate Categories to your right. . And don t forget, we also post tips daily on Twitter and Facebook, sometimes pertaining to Taxes and the Long Island NY economy, or the economy in general. Find us there as well. .. The post Income Tax Preparer Tricks of the Trade appeared first on Best Buyers Broker.
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Long Island NY Homebuyers Say Location Still Matters

Long Island NY Homebuyers Say Location Still Matters Nearly half of Long Island NY homebuyers surveyed by The Demand Institute who say they plan to move at some point in the future say that location still matters for them. While some Long Island NY homebuyers say they will move for a larger or nicer home, or perhaps buy a home for the first time, three out of every four movers say that a location consideration is a reason for moving. Most Long Island NY homebuyers who answered the survey said they won t go very far. More people seem to be wanting to move closer to city centers and are looking for denser, more walkable living. But most Americans in general say they will still continue to choose to live in the suburbs. Findings of Long Island NY Homebuyers Surveyed For most Long Island NY homebuyers, the location of their home is as important as or even more important than the physical home itself. So it s not surprising that location-related reasons play a critical role in the decision
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Long Island NY Real Estate: Mistake Millennials May Make

Long Island NY Real Estate: Mistake Millennials May Make When it comes to Long Island NY real estate, most millennials say they d rather rent than buy a home — a decision that could cost them more than $700,000 (or more) over the course of their lives. Nearly six in 10 millennials (59%) say they d rather rent a home than buy one, with just one in four saying they are either very or completely likely to purchase a home in the next five years, according to a survey of 1,300 millennials released recently by EliteDaily and Millennial Branding. (This anti-home-buying trend can already be seen: Currently, only about one in four millennials own a home, down from about one in three in the mid-70s and early 80s, according to data from the Demand Institute.) That s "bad news for the Long Island NY real estate industry," the report concludes. Long Island NY Real Estate Cheaper to Own Than Rent Whatever the reason, this decision may be a costly one. "In the Long Island NY real estate market
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Long Island NY Gas Prices Affecting Mortgage Rates?

Long Island NY Gas Prices Affecting Mortgage Rates? We re betting you thought lower Long Island NY gas prices could only mean positive things for the economy, right? If you re in the market for a home mortgage, Long Island NY gas prices could be having an effect on the rate you can get. How Long Island NY Gas Prices Affect Mortgage Rates Believe it or not, oil investments and Long Island NY gas prices (along with lots of other things) have an indirect effect on mortgage rates. One of the strongest predictors of mortgage rates is the yield on a 10-year Treasury note. Basically if the yield is low, so are mortgage rates. The buying of bonds can represent relative safety for oil investors, and what oil prices mean for the world s economy. Oil prices, as well as Long Island NY gas prices, continues to fall in large part because there is less demand. Less demand comes via weakening economies across the globe. The lower oil prices may also disproportionately affect countries like Russia, wh
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Owning a Home Not Among Americans’ Problems

Owning a Home Not Among Americans Problems The latest Gallup poll shows that the average American has a lot of problems, but owning a home is not one of the biggies any more. Right now, more Americans are concerned about healthcare costs, low wages and a lack of jobs. When it comes to the capital markets, they worry about the cost of college for their children. But, the most striking result of the Gallup poll, explained in the chart below, is the shift in the attitude towards owning a home. Owning a Home Half as Important As Three Years Ago In just three short years, the number of Americans who cite the costs associated with homeownership and renting as one of their biggest financial worries, sliced firmly in half. In 2012, a full 12% of Americans put this cost at the top of their financial worry. Now it s dropped all the way down to 6%. Although when broken down by income, the results skew somewhat. Below the $30k/year bracket, housing is the most important worry for 9% of the respon
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FHA Slashing Long Island NY Mortgage Insurance Premiums

FHA Slashing Long Island NY Mortgage Insurance Premiums In a move expected to bring 250,000 first-time homebuyers into the market, FHA will reduce annual Long Island NY mortgage insurance premiums by half a percentage point, to 0.85 percent. The move is expected to make homeownership more affordable for more than 2 million homeowners in the next three years. After raising Long Island NY mortgage insurance premiums six times during the housing bust, the Obama administration is reversing course and rolling back mortgage insurance premiums charged by the Federal Housing Administration by enough to save homeowners an average of $900 a year. Upfront Long Island NY Mortgage Insurance Premiums Will Remain Unchanged FHA s upfront premiums of 1.75 percent will remain unchanged. So a first-time homebuyer taking out a $180,000 mortgage will pay $3,150 upfront and $1,530 a year in premiums for access to FHA mortgage programs that let them purchase a home with as little as 3.5 percent down. Today,
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What Prevents Millennials from Buying Long Island NY Homes?

What Prevents Millennials from Buying Long Island NY Homes? When it comes to buying Long Island NY homes, first-time buyers, the millennial generation, falls under the "prime" home buying demographic. Unfortunately, many millennials also fall into another, less desirable, category: adult children. An adult child is a term that s caught on recently, and simply refers to adults roughly between ages 18 and 30 who still live at home with their parents, or are still dependent on their parents for their living arrangements. Homeownership among prime home buyers has dropped 11% from 1980 to 2012. Some would argue the statistics are skewed, because many 19-24 year olds are still in school and not financially able to live on their own – but that s not the point. Many adults who fall into that 18-30-year-old range are considered prime candidates for homeownership, yet over 50% choose to live with their parents or rent. Ideally they should be buying. What s holding them back? Problems Keep
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