"The New Rules of Remodeling" By: M.P. McQueen
Article from Wall Street Journal.com
"You may have noticed the lines at home-improvement stores getting longer or heard the whirring of buzz saws in your neighborhood. After years of economic recession and housing-market malaise, people are starting to fix up their homes again."
To read the entire article click on the below link.
http://online.wsj.com/article/SB10001424052748703404004575198603552079406.html?mod=WSJ_Real+Estate_LeftTopNews
Thursday, April 29, 2010
Tuesday, April 27, 2010
1st Quarter Hole Report 2010
"Number of Sales Doubles"
The Hole Report: Data-Driven Report for the First Three Months of 2010
Click on the below link to read the entire report...
http://www.graham4jh.com/news.html
The Hole Report: Data-Driven Report for the First Three Months of 2010
Click on the below link to read the entire report...
http://www.graham4jh.com/news.html
Friday, April 23, 2010
Hamptons Home Prices Surge as Buyers Return to Luxury
Hamptons Home Prices Surge as Buyers Return to Luxury
Article By: Oshrat Carmiel
Bloomberg Businessweek
April 22 (Bloomberg)-- Home sales in the Hamptons, the New York beach towns swarmed by Wall Street and Hollywood vacationers each summer, more than doubled in the first quarter as buyers seized luxury properties.
Transactions climbed to 396 in the towns on Long Island's East End, the biggest annual jump in seven years of record keeping. A shift toward larger, more expensive homes pushed the median price up 35 percent to $908,500, New York-based appraiser Miller Samuel Inc. and broker Prudential Douglas Elliman Real Estate said in a report today.
"You had a lot more high-end properties in the mix and that skewed the indicators," Jonathan Miller, president of Miller Samuel, said in an interview. "I'd still characterize the housing prices in general as stable."
Stock market gains, including a 78 percent rebound in the Standard & Poor's 500 index since March, 2009, helped rekindle demand for Hamptons property after the credit crisis. Wall Street bonuses roared back as well, climbing 17 percent last year to $20.3 billion, or $123,850 per employee, according to the state comptroller's office.
"There was no stand-off anymore", said Dottie Herman, president Prudential Douglas Elliman. "The sellers are aware that it's not the market we were in two years ago, and the buyers realize that it's not going to be like Vegas or Florida, where there's a fire sale."
End Game
It's that meeting of the minds that brought Eric Stine's two-year search to a close in March. He and husband Neil Markman started looking for a house priced at about $1 Million around August 2008. They struck a verbal agreement for a Southampton property in early 2009 before the seller demanded $80,000 more, said Stine, 37.
The couple tried again at the end of last year, bidding $999,000 on three different Sag Harbor homes priced from almost $1.3 million to $1.4 million. Within hours, they had counteroffers from all three sellers.
"It was much less stressful as a buyer this time", said Stine, a New York-based senior vice president at educational software company Blackboard Inc. "It really did feel like it was our market."
He and Markman, clients of Town & Country Real Estate, closed March 26 on a furnished, 2,000-square foot, three-bedroom house with a pool and renovated kitchen for $1.1 million.
Overall Hamptons sales for the first quarter are in line with the six-year average, Miller said.
Discount Prices
Sellers shaved an average of 12 percent off their asking prices in the quarter compared with 11 percent in the same period last year. Inventory declined 2 percent to 1,640 homes for sale, a sign unsuccessful sellers may have returned some homes to the market, Miller said.
Luxury sales throughout the Hamptons and Long Island's North Fork climbed to 49 properties, more than double the first quarter a year earlier, Miller Samuel said.
The median luxury price gained 34 percent to $5.48 million. Miller defines the luxury as the top 10 percent of sales, which in the first quarter included properties sold for $3.45 million or more.
The most expensive home sold in the quarter was 500 Ox Pasture Road, a two-parcel residential listing that went for a combined price of about $32 million, according to Miller and StreetEasy.com.
Two other real estate brokers issues Hamptons reports this month. The Corcoran Group, based in Manhattan, said sales more than doubled to 466 while the median price surged 46 percent to $950,000.
Town & Country President Judi Desiderior said the median price across the Hamptons climbed 51 percent to $1.1 million, while the number of properties changing hands more than doubled to 292.
"Some of the markets hit hardest by the recession came back with a bang," she said.
-Editors: Sharon L. Lynch, Rob Urban
Article By: Oshrat Carmiel
Bloomberg Businessweek
April 22 (Bloomberg)-- Home sales in the Hamptons, the New York beach towns swarmed by Wall Street and Hollywood vacationers each summer, more than doubled in the first quarter as buyers seized luxury properties.
Transactions climbed to 396 in the towns on Long Island's East End, the biggest annual jump in seven years of record keeping. A shift toward larger, more expensive homes pushed the median price up 35 percent to $908,500, New York-based appraiser Miller Samuel Inc. and broker Prudential Douglas Elliman Real Estate said in a report today.
"You had a lot more high-end properties in the mix and that skewed the indicators," Jonathan Miller, president of Miller Samuel, said in an interview. "I'd still characterize the housing prices in general as stable."
Stock market gains, including a 78 percent rebound in the Standard & Poor's 500 index since March, 2009, helped rekindle demand for Hamptons property after the credit crisis. Wall Street bonuses roared back as well, climbing 17 percent last year to $20.3 billion, or $123,850 per employee, according to the state comptroller's office.
"There was no stand-off anymore", said Dottie Herman, president Prudential Douglas Elliman. "The sellers are aware that it's not the market we were in two years ago, and the buyers realize that it's not going to be like Vegas or Florida, where there's a fire sale."
End Game
It's that meeting of the minds that brought Eric Stine's two-year search to a close in March. He and husband Neil Markman started looking for a house priced at about $1 Million around August 2008. They struck a verbal agreement for a Southampton property in early 2009 before the seller demanded $80,000 more, said Stine, 37.
The couple tried again at the end of last year, bidding $999,000 on three different Sag Harbor homes priced from almost $1.3 million to $1.4 million. Within hours, they had counteroffers from all three sellers.
"It was much less stressful as a buyer this time", said Stine, a New York-based senior vice president at educational software company Blackboard Inc. "It really did feel like it was our market."
He and Markman, clients of Town & Country Real Estate, closed March 26 on a furnished, 2,000-square foot, three-bedroom house with a pool and renovated kitchen for $1.1 million.
Overall Hamptons sales for the first quarter are in line with the six-year average, Miller said.
Discount Prices
Sellers shaved an average of 12 percent off their asking prices in the quarter compared with 11 percent in the same period last year. Inventory declined 2 percent to 1,640 homes for sale, a sign unsuccessful sellers may have returned some homes to the market, Miller said.
Luxury sales throughout the Hamptons and Long Island's North Fork climbed to 49 properties, more than double the first quarter a year earlier, Miller Samuel said.
The median luxury price gained 34 percent to $5.48 million. Miller defines the luxury as the top 10 percent of sales, which in the first quarter included properties sold for $3.45 million or more.
The most expensive home sold in the quarter was 500 Ox Pasture Road, a two-parcel residential listing that went for a combined price of about $32 million, according to Miller and StreetEasy.com.
Two other real estate brokers issues Hamptons reports this month. The Corcoran Group, based in Manhattan, said sales more than doubled to 466 while the median price surged 46 percent to $950,000.
Town & Country President Judi Desiderior said the median price across the Hamptons climbed 51 percent to $1.1 million, while the number of properties changing hands more than doubled to 292.
"Some of the markets hit hardest by the recession came back with a bang," she said.
-Editors: Sharon L. Lynch, Rob Urban
Wednesday, April 21, 2010
Graham4 New Listing in Alpine, Wyoming
Salt River Estate
250 Willow Lake Drive, Alpine, Wyoming
List Price: $995,000
High-end home in Alpine. Ideally located on a cul de sac, on 2.9 beautifully landscaped acres with a pond, waterfal, mtn.views, path to Salt River. Quality details, 5,515 sq.ft., spacious, dramitic living areas, 4 BR with 2 master suites, bonus room, oversized 6 stall garage.
Contact Graham4 for additional information on this beautiful property at 888.301.2402 or info@graham4jh.com.
Thursday, April 15, 2010
Graham4, New Listing: Crafted to Perfection in Gros Ventre North
Crafted to Perfection in Gros Ventre North
List Price: $7,995,000
Crafted to perfection, this is one of the truly dazzling homes in Gros Ventre North. It was thoughtfully sited on 15.7 private acres to capture Teton views at every turn from many of the home's 27 rooms. With 9,928 sq.ft. of exquisitely comfortable living space. 7 bedrooms and 6.5 baths, this home is perfect for family and entertaining.
Contact Graham4 for additional information on this beautiful new listing at 888.301.2402 or info@graham4jh.com.
Friday, April 9, 2010
"Can you still get a 5% mortgage?"
Can you still get a 5% mortgage?
Atricle By: Les Christie, staff writer March 24, 2010
New York (CNNMoney.com)-There's still time to get a 5% mortgage but the window is closing. On April 1, the government will stop buying mortgage-related debt, which will send interest rates slowly higher.
Since November 2008 the Federal Reserve has snapped up $1.25 trillon worth of mortgage-backed securities--essentially, people's mortgages bundled together and sold to investors.
The program has kept interest rates artificially low over the past year, with the price of a 30-year fixed-rate loan ranging between 4.93% and 5.09%, according to morgage giant Freddie Mac.
That's about 0.4 percentage points lower than these loans would have been without the government's intervention, according to Jay Brinkmann, chief economist for the Mortgage Bankers Association.
But when the Fed stops buying and cedes the playing field to private investros, they will almost surely demand better return for their risk.
"Rates are going to be higher than they are now," said Brinkmann.
How much higher is the question.
"It's really hard to tell right now," said Amy Crews Cutts, Freddie MAc's deputy chief economist. "The Fed said it will taper offer (purchases) gradually. Each week they buy less than the week before."
DANGER! Falling home prices
So far, though, the tapering has failed to spawn higher rates. Last week, the 30-year was just 4.96%
Still, all of the experts agree that mortgage rates will climb. The good news is that none of them think the increase will be very large.
Their projections are for a gradual run up to between 5.5% and 6% by December. Brinkman's projection is a rise to 5.7%; Cutts is to 5.75%.
That will add only about $70 to the monthly payment on a $150,000 note. That's still very reasonable and should not discourage many consumers.
Homebuyers may even find themselves paying less every month as housing markets continue to experience price declines.
Industry experts are projecting further home price drops of 5% to 10%. That would wipe out every bit, and more, of the monthly payment increases higher mortgage rates would bring.
Above Atricle By Les Christie, staff writer March 24, 2010. (NewYork CNNMoney.com)
*Contact Graham4 to learn more about the current market and to take advantage of this great time to buy. 888.301.2402 or info@graham4jh.com
Atricle By: Les Christie, staff writer March 24, 2010
New York (CNNMoney.com)-There's still time to get a 5% mortgage but the window is closing. On April 1, the government will stop buying mortgage-related debt, which will send interest rates slowly higher.
Since November 2008 the Federal Reserve has snapped up $1.25 trillon worth of mortgage-backed securities--essentially, people's mortgages bundled together and sold to investors.
The program has kept interest rates artificially low over the past year, with the price of a 30-year fixed-rate loan ranging between 4.93% and 5.09%, according to morgage giant Freddie Mac.
That's about 0.4 percentage points lower than these loans would have been without the government's intervention, according to Jay Brinkmann, chief economist for the Mortgage Bankers Association.
But when the Fed stops buying and cedes the playing field to private investros, they will almost surely demand better return for their risk.
"Rates are going to be higher than they are now," said Brinkmann.
How much higher is the question.
"It's really hard to tell right now," said Amy Crews Cutts, Freddie MAc's deputy chief economist. "The Fed said it will taper offer (purchases) gradually. Each week they buy less than the week before."
DANGER! Falling home prices
So far, though, the tapering has failed to spawn higher rates. Last week, the 30-year was just 4.96%
Still, all of the experts agree that mortgage rates will climb. The good news is that none of them think the increase will be very large.
Their projections are for a gradual run up to between 5.5% and 6% by December. Brinkman's projection is a rise to 5.7%; Cutts is to 5.75%.
That will add only about $70 to the monthly payment on a $150,000 note. That's still very reasonable and should not discourage many consumers.
Homebuyers may even find themselves paying less every month as housing markets continue to experience price declines.
Industry experts are projecting further home price drops of 5% to 10%. That would wipe out every bit, and more, of the monthly payment increases higher mortgage rates would bring.
Above Atricle By Les Christie, staff writer March 24, 2010. (NewYork CNNMoney.com)
*Contact Graham4 to learn more about the current market and to take advantage of this great time to buy. 888.301.2402 or info@graham4jh.com
Tuesday, April 6, 2010
The Basics:Extended Home Buyer Tax Credit 2009/2010
Learn more about the Extended Home Buyer Tax Credit 2009/2010
"Bringing the Dream of Homeownership Within Reach: As a part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed new legislation that:"
To read the entire article from Realtor.org-National Association of Realtors, click on the below link.
http://www.realtor.org/home_buyers_and_sellers/2009_first_time_home_buyer_tax_credit
"Bringing the Dream of Homeownership Within Reach: As a part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed new legislation that:"
To read the entire article from Realtor.org-National Association of Realtors, click on the below link.
http://www.realtor.org/home_buyers_and_sellers/2009_first_time_home_buyer_tax_credit
Thursday, April 1, 2010
Graham4 New Listing: Well Priced Home in Indian Trails
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NEW LISTING
Well Priced Home in Indian Trails
865 Seneca Lane
Jackson, Wyoming
List Price: $695,000
This lovely 4 bedroom home in Indian Trails is perfect for family and entertaining; featuring a guest suite with seating area, bedroom and bath, sink, and under counter frig; landscaped front and back yards; two decks and covered porch; comfortable living room with open floor plan that includes spacious kitchen and dining areas; a convenient location in a preferred residential neighborhood,; near town and walking distance to schools and playgrounds.
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