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Housing Industry Riding on the Coattails of Surging Job Market

Where the job market goes, the housing industry follows. And with the economy continuing to hum, both sectors are surging further upward in the new year, according to economists from two companies who would know:  realtor.com®  and job search site indeed.com. “The news is good. Employers are looking at 2016 as being quite strong,” said  Tara Sinclair , the chief economist for indeed.com, during a joint press briefing in Washington, DC, with realtor.com® chief economist  Jonathan Smoke . Both laid out predictions for another year of steady home sales and job growth, particularly in the country’s largest urban centers.  New York City ,  Atlanta ,  Chicago , and Los Angeles , as well as the high-tech hubs of the  San Francisco  Bay Area,  Denver , Seattle , and  Austin , all had strong employment gains—and, not at all coincidentally, some of the country’s busiest real estate markets. read more... realtor.com...

Clever #Subterranean Spaces | Bedford Real Estate | #RobertPaulRealtor

Clever #Subterranean Spaces | Bedford Real Estate | #RobertPaulRealtor

#Gothic #Homes on the market | Bedford Real Estate

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With a cup of tea in hand and her pinky finger alert, Morticia Addams would doubtless approve of these Gothic and  Gothic Revival homes that — like her — are romantic, but with a spooky edge. Charleston, SC 13 Johnson Rd, Charleston, SC For Sale: $5.9 million It’s easy to picture Tish snipping roses on the grounds of this lakefront estate. Built in 2007, its Gothic features meld with modern luxuries such as an outdoor kitchen by the pool, an airy home gym and a spa-like master bath with heated floors and towel-warming drawers. Check out more listings in Charleston . Great Neck, NY Pond Rd, Great Neck, NY For Sale: $100 million What better place to knit like an Addams while contemplating all things creepy and crawly than a gated, eight-acre estate with views of Manhattan? The compound includes 60,000 square feet of Gothic Revival living space, including 35 bathrooms. See more homes for sale in Great Neck . New York, NY 45 Tudor City Pl APT 1818, ...

Boomers Creating Massive Boom in Retrofitting Homes | Bedford Real Estate

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With 78 million baby boomers entering or on the verge of retirement, a concerted national effort is required to adapt homes and communities for the 73 percent of seniors who prefer to age in place, according to a new report released yesterday by the Bipartisan Policy Center (BPC). The preference to grow older in one’s own home and community stems from a desire among many seniors to remain close to family and friends and maintain the social connections that have enriched their lives. They appreciate the familiarity of their own homes as well as that of the local shopping center, the community library, and their place of worship. They want to remain close to doctors, nurses, social workers, and the other professional service providers upon whom they have come to rely, according to research by AARP That’s bad news for the nation’s real estate and housing finance industries, who have been anticipating a flood of transactions from Boomers selling their long-time residences.  But it...

HMDA: Approval Rates Vary by Income and Race | Pound Ridge Real Estate

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The total number of originated mortgages of all types and purposes declined by about 2.7 million, or 31 percent, but in 2014 but home purchase lending increased by about 4 percent. Refinance originations declined by 55 percent, according to the latest Home Mortgage Disclosure Act (HMDA) Data released by the Federal Financial Institutions Examination Council. The 2014 data include information on 9.9 million home loan applications—of which, nearly 6.0 million resulted in loan originations—that’s an approval rate of 62.5 percent for both refinance and purchase originations.  Approval rates for conventional purchase applications as well as government backed loans –FHA, VA and Rural Housing Service— were about 69 percent. In a report on the HMDA data issued yesterday, the Center for Responsible Lending said that despite a number of industry predictions, new data from the HMDA report revealed that Dodd-Frank’s mortgage protections and the Consumer Financial Protection Bureau’s relat...

Detroit Prices up 28% | Bedford Corners Real Estate

Sold prices rose 28 percent in Detroit over the past year, topping the list of Pro Teck Valuation Services’ Home Value Forecast. Others included in the list were Palm Bay, FL; Port St. Lucie, FL; Merced, CA; and, San Francisco, CA. “While Detroit has seen healthy gains this year, the Home Value Forecast rating system shows that Detroit is still a soft market,” said Tom O’Grady, CEO of Pro Teck Valuation Services. “Although examining one indicator is helpful, it’s important to analyze several home price indicators to best understand the health of a real estate market.” This month’s HVF update also looked at the Collateral Analytics forecast for those top markets and found that San Francisco home prices are at an all-time high while Detroit is still trying to return to pre-crash levels. In Home Value Forecast’s rating system Detroit’s market is considered “soft” while San Francisco is “strong.” They also noted that that while recent gains have been encouraging in Port St. Lucie, h...

Living off the grid | Chappaqua Real Estate

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Sometimes you just have to go for it. About a year and a half ago, Dabney Tompkins and Alan Colley moved from a condo in Portland to 388 square feet in rural Oregon. Their house, a  40-foot-high fire lookout , doesn’t have a street address or a bathroom. And the nearest neighbor is three miles away. “We still have that sense of ‘are we really doing this?'” Colley admits. When the couple decided to go off grid, they didn’t know a thing about solar power. But through trial and error — and lots of Googling — they figured out how to pump running water into their kitchen, power LED lights and have Internet using only 80 watts of electricity.  As for the bathroom, they “visit the bear” (aka an outhouse in the woods) or use one of three  alternative options designed for emergencies — or a few laughs . Through it all, Tompkins and Colley have tried to keep things in perspective. “Every time I think could I really do that...