Posted by Leonard Steinberg on October 25th, 2015 Every morning I write a contemplation to everyone at COMPASS sharing thoughts and insights: Here is an edited highlight of this morning’s COMPASS CONTEMPLATION related to the advantages of buying property: DID YOU KNOW? The number of single-family renter households increased by 3.9 million more renters, or 34%,… [Read More]
INTEREST RATES ABOVE 4%: WILL THIS IMPACT THE RECOVERY?
Posted by Leonard Steinberg on June 5th, 2013 The Wall Street Journal asks the question whether rising interest rates could stop the improving housing markets in the USA. Interest rates have climbed past 4% in the past month. The truth of the housing market is that in the hardest hit areas, prices fell so low… [Read More]
IS WALMART THE NEXT MORTGAGE BANK?
Posted by Leonard Steinberg on December 3rd, 2012 A recent survey shows that one in three US consumers would consider a mortgage by retail giant WALMART. The study shows consumers are willing to try alternative lenders as borrowers focus on price, customer service and trust in their provider when selecting a mortgage, said Doug Hautop, lending… [Read More]
MANHATTAN RENTS SOAR 10+% IN ONE YEAR: MAJOR INFLATION?
Posted by Leonard Steinberg on October 11th, 2012 The Douglas Elliman RENTAL REPORT just came out and Manhattan rents soared 10.2 percent in the past year as tenants scrambled for new apartments in the tightest, fastest-moving market in years, new figures show. The median rent hit $3,195 a month — and $3,500 with a doorman. Apartments… [Read More]
MORE GOOD NEWS FOR REAL ESTATE?
Posted by Leonard Steinberg on January 11th, 2012 In a recent Wall Street Journal article a survey of those with investable assets of $ 30m+ revealed that the rich prefer commodities, real-estate, private companies in 2012 to place their investable dollars. 48% plan to increase their allocation to commodities in 2012, and 45% of respondents are looking to… [Read More]
MORE BANKER FOLLY…..OR THE SIGNS OF HOPE?
Posted by Leonard Steinberg on July 4th, 2011 Bank of America Corp and JPMorgan Chase & Co have started modifying tens of thousands of mortgages where the banks deem the loans especially risky, even if the borrowers have not asked, the New York Times reported yesterday. In some cases, the banks are slashing the amount… [Read More]
ALL BUILDINGS SEEKING TO RE-FINANCE DEBT SHOULD KNOW THIS
Posted by Leonard Steinberg on April 11, 2011 Many buildings seeking to re-finance their debt to take advantage of the still historically low rates, come across a little problem …..pre-payment penalties. With the potential for rising interest rates increasing daily, those wishing to re-finance now cannot do so as the pre-payment penalties are often severe…. [Read More]
HUCKABEE INSANITY? 90%+ FINANCING RETURNS, BUT ONLY TO POLITICIANS?
Posted on December 19, 2010 by Leonard Steinberg Sorry we have been MIA lately, so back to the BLOG: Potential presidential candidate Mike Huckabee is building an 8,224 sf, $3 million home on the beach in Walton County. The Arkansas Times reported that the building permit for the three-story house lists the projected cost of construction at… [Read More]
FORECLOSURE MESS WILL COST ALL: YES, EVEN IN MANHATTAN.
The foreclosure mess could hurt homeowners in Manhattan in an indirect way: The costs of buying an apartment and paying off the mortgage are likely to go up, say housing experts. The rising costs will come both during the closing and throughout the life of the loan. At the closing, the cost of title insurance,… [Read More]
IS BANK OF AMERICA ABANDONING RESIDENTIAL MORTGAGES?
Just to-day, Bank of America withdrew a loan that had been completely signed off on and referred it to another lending institution…..word on the street is Bank of America may be exiting the residential mortgage market….. “Its amazing how many smaller banks and untraditional lenders are eating away at the market share of the more… [Read More]