Author: Dena driver

Take tour of this historical duplex.

May 20, 2018

237 CARROLL STREET Carroll Gardens

Beautiful Carroll St lower Duplex directly across from Carroll Park. This spacious 3 Bedroom Duplex has stunning historic detail including soaring ceilings over 13ft graced with ornate moldings. a Pier mirror and intricate detailed marble mantle fireplace plus two sets of floor to ceiling pocket doors. Designer kitchen with sub zero refrigerator, granite counter tops and custom cabinets. Formal parlor and dining room for entertaining. Huge deck off kitchen with steps leading to a private back yard make this your own oasis from the city. more “Take tour of this historical duplex.” …

Magnificent 3BR 2Bth Duplex in Carrol Gardens

May 17, 2018

237 CARROLL STREET Carroll Gardens

Beautiful Carroll St lower Duplex directly across from Carroll Park. This spacious 3 Bedroom Duplex has stunning historic detail including soaring ceilings over 13ft graced with ornate moldings. a Pier mirror and intricate detailed marble mantle fireplace plus two sets of floor to ceiling pocket doors. Designer kitchen with sub zero refrigerator, granite counter tops and custom cabinets. Formal parlor and dining room for entertaining. Huge deck off kitchen with steps leading to a private back yard make this your own oasis from the city. more “Magnificent 3BR 2Bth Duplex in Carrol Gardens” …

Mortgage rates are surging to the highest level in 7 years

May 17, 2018

As reported by CNBC.

    • The average contract rate on the 30-year fixed will likely end the day as high as 4.875 percent for the highest creditworthy borrowers and 5 percent for the average borrower.
    • Tuesday’s move follows positive economic data in retail sales, suggesting that newly imposed tariffs would not hit sales as hard as expected.
    • The surge in rates could not have come at a worse time for the spring housing market.
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    Mortgage rates on the rise

    Mortgage rates on the rise  

    A sharp sell-off in the bond market is sending mortgage rates to the highest level in seven years.

    The average contract rate on the 30-year fixed will likely end the day as high as 4.875 percent for the highest creditworthy borrowers and 5 percent for the average borrower, according to Mortgage News Daily.

    Mortgage rates, which loosely follow the yield on the 10-year Treasury, started the year right around 4 percent but began rising almost immediately. They then leveled off in March and early April, only to begin rising yet again. Tuesday’s move follows positive economic data in retail sales, suggesting that newly imposed tariffs would not hit sales as hard as expected.

    Rates have been widely expected to rise, as the Federal Reserveincreases its lending rate and pulls back its investments in mortgage-backed bonds. But mortgage rates have reacted only in fits and starts.

    Read more: Homebuilder sentiment rises on high demand, tight supply

    “The bottom line is that the writing on the wall has been telling rates to go higher since at least last September,” said Matthew Graham, chief operating officer of Mortgage News Daily. “Rates keep looking back to see if the writing has changed, and although there have been opportunities for hope (trade wars, stock selling-sprees, spotty data at times), it hasn’t. Today is just the latest reiteration of that writing.”

    Real estate agent hands out information on a home for sale during an open house in San Francisco, California.

    Homebuilder sentiment rises in May  

    The surge in rates could not have come at a worse time for the spring housing market. Buyers are struggling to find affordable homes for sale, as the supply of listings drops to record lows in most major markets. Home prices are now rising at the fastest rate in four years, according to CoreLogic, and show no sign of easing up.

    “Homebuyer demand has remained positive and shaken off the higher rate environment so far this year,” said Sam Khater, chief economist at Freddie Mac. “However, after years of very low mortgage rates, the symbolic risk of a 5 percent mortgage, on top of higher gas prices, may cause a slowdown in homebuyer demand, particularly in western states and exurbs that are affected more by gas prices than the typical consumer.”

    Higher mortgage rates often chill prices, as sellers have to adjust to what buyers can afford, but with supply and demand so far out of whack, that is unlikely to happen in the near term. If rates move significantly higher, past 5 percent on the 30-year fixed, prices will have to adjust.

New to the market. Open House Tuesday April 24th, 5:30PM – 7:00PM

April 23, 2018

124 kane Street Cobble Hill

Make the tree lined streets of Cobble Hill your new home. This federal style brownstone was built circa 1840. The restored home has a wonderful southern exposure and is filled with light. The lovely, well laid out lower three bedroom duplex has two full baths with central air and heat. The parlor floor has historically restored floor to ceiling windows, high ceilings, beautiful original details, a large kitchen and living room with a working fire place plus a full bath. The state of the art kitchen has a Viking Range, Sub Zero fridge and dishwasher. Bedrooms are on the garden level with another full bath. Also the basement features laundry with full size Washer/Dryer and additional storage. The landscaped back yard has a perfect southern exposure, accessible from the parlor and garden floors. Large patio is perfect for a BBQ and dining with friends. The house is currently a four family used as a three family, which will save the mansion tax. The two apartments above, a one bedroom with French doors opening into the living area and a two bedroom on the top floor, both have one bath. more “New to the market. Open House Tuesday April 24th, 5:30PM – 7:00PM” …

Mortgage rates roar to a fresh 2018 high

April 23, 2018

Rates for home loans surged on strong economic data, taking the benchmark rate to its highest point so far this year.

The 30-year fixed-rate mortgage averaged 4.47%, according to Freddie Mac’s weekly survey, out Thursday. That was five basis points higher than in the previous week, and the highest for the popular mortgage product since January 2014. The 15-year fixed-rate mortgage averaged 3.94%, up from 3.87%. The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.67%, up from 3.61% last week.

Those rates don’t include fees associated with obtaining mortgage loans.

Mortgage rates generally follow the path of the 10-year U.S. Treasury noteTMUBMUSD10Y, +0.29%  yield, which has started to recover after being battered by trade war fears a few weeks ago.

Stronger economic data and hints of firmer inflation, which would erode the value of fixed-income assets, have weighed on bond prices, which move inversely to yields. Investors are also warming to stocks, rather than bonds, after a batch of strong corporate earnings results.

Read: 10-year Treasury yield hits highest in four weeks; yield curve remains a focus

Conditions in the housing market are more muddled. Demand is much stronger than supply, pushing prices up and forcing buyers to make tough decisions.

But concerns about rising rates aren’t dampening buyer enthusiasm. Data provided to MarketWatch by the Mortgage Bankers Association shows that applications for purchase mortgages have been higher in every week of 2018 than last year. For the year to date, applications have been, on average, 5.9% higher than in 2017, even though the 30-year fixed-rate mortgage has been, on average, 19 basis points higher during that time.

Read: That apartment building boom is slowing — so rent is about to accelerate

As reported by Andrea Riquier from MarketWatch

New Cobble Hill Townhouse for sale.

April 12, 2018

124 kane Street Cobble Hill

Make the tree lined streets of Cobble Hill your new home. This federal style brownstone was built circa 1840. The restored home has a wonderful southern exposure and is filled with light. The lovely, well laid out lower three bedroom duplex has two full baths with central air and heat. The parlor floor has historically restored floor to ceiling windows, high ceilings, beautiful original details, a large kitchen and living room with a working fire place plus a full bath. The state of the art kitchen has a Viking Range, Sub Zero fridge and dishwasher. Bedrooms are on the garden level with another full bath. Also the basement features laundry with full size Washer/Dryer and additional storage. The landscaped back yard has a perfect southern exposure, accessible from the parlor and garden floors. Large patio is perfect for a BBQ and dining with friends. The house is currently a four family used as a three family, which will save the mansion tax. The two apartments above, a one bedroom with French doors opening into the living area and a two bedroom on the top floor, both have one bath. more “New Cobble Hill Townhouse for sale.” …

REVEALED: New renderings of Domino Sugar Factory’s waterfront park and esplanade

April 10, 2018

First renderings have been posted for the Domino Sugar factory as reported by 6sqft.com.
POSTED ON THU, APRIL 5, 2018 BY

Almost a year to date since the first renderings were revealed for Domino Park, the 11-acre park and waterfront esplanade that will anchor the three-million-square-foot Williamsburg mega-development at the Domino Sugar Factory site, a new batch of views has been released by developer Two Trees, and they showcase everything from an urban “beach” to a better look at how preserved artifacts from the historic factory will be incorporated throughout. Designed by James Corner Field Operations (of the High Line fame), the park is scheduled to open this summer, ahead of most of the buildings. more “REVEALED: New renderings of Domino Sugar Factory’s waterfront park and esplanade” …

Here’s What Will Replace Boreum Hill’s Historic Church of the Redeemer

April 2, 2018

Eyeball ODA’s Design for 63 Condos Replacing Brooklyn Church as noted on Brownstoner .Too bad the church wasn’t land marked 🙁

The modern apartment building that will replace Boerum Hill’s historic Church of the Redeemer at 24 4th Avenue is a trademark ODA design that nonetheless manages to bring a fresh look to the busy corner close to Barclays Center. Like many ODA designs, it is a variation on the theme of assemblages of boxes.

The design is trompe l’oeil: The brick appears to be a continuous 2-D surface that seems to fall away at the edges with nothing behind it. Windows are framed by shadow boxes.

Stained, not painted, garage doors made of strips of wood and ground-floor shops with big windows will likely make the building pleasant to walk by at the street level.

The rendering was first published by NY YIMBY Wednesday.

The 12-story mixed-use building will include 63 apartments as well as community and retail space. There will be underground parking for 16 cars and 32 bicycles, as well as a lounge, laundry, storage, a dog spa, and exercise facilities in the cellar, the Schedule A reveals. Outdoor recreation areas are planned for the roof, second floor and, surprisingly, the cellar. more “Here’s What Will Replace Boreum Hill’s Historic Church of the Redeemer” …

Changing face of the real estate market

April 2, 2018

Normally I stay local – but here’s an interesting price on the changing  face of the real estate market and more short term rentals. Not only in residential but in commercial leasing too.

Reported by White & Case.

The market in real estate is in a state of evolution, with the rapid growth of quasi operational assets such as data centres and logistics centres, as well as the occupation of more conventional assets, such as offices, on more flexible terms. The varying nature of those business models means that a bespoke approach to underwriting a loan on those assets is often required. New structures are emerging which are a hybrid between “classic” real estate finance and leveraged loans.

more “Changing face of the real estate market” …