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152 E. 106, New York, NY 10029 - Special Listing #2050

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152 E. 106
New York, NY 10029

Special Listing #2050

$1,140,000
0 Acres

Listing Agent

Robert Ritchie917-922-7781 Cell
718-848-5900 Office 

Property Details

25 Ft. x 80 Ft Vacant Paved Lot F.A.R. = 3.44 As A Right 4.0 Wide Street Build to 8000 Sq/Ft Rentals / Condo 2 Way Street Close to everything : CENTRAL PARK AND MORE PARKS, CULTURAL CENTERS, RESTAURANTS, SHOPPING CENTER, SUBWAY 3 BLOCKS AWAY , HISTORIC HOUSE OF WORSHIP. NICE PLACE TO LIVE

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CORNER OF LEXINGTON AND EAST 106TH STREET. EAST HARLEM NEW YORK 10029

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Last Updated 07/23/2012

30-Year Fixed Rate Mortgage Rates Fall To 3.62% Nationwide

30-year fixed rate mortgage rates made new, all-time lows once again this week.

According to Freddie Mac's weekly mortgage rate survey of more than 125 banks nationwide, the average 30-year fixed rate mortgage rate fell 4 basis point to 3.62% nationwide.

The rate is available to conforming, prime borrowers willing to pay an accompanying 0.8 discount points plus a full set of closing costs. A "prime" mortgage applicant typically has excellent credit, verifiable income, and at least 25% equity in their home.

And, it's not just the 30-year fixed rate mortgage that made new lows in this holiday-shortened week, either. The 15-year fixed rate mortgage did, too, falling 5 basis points to 2.89%, on average.
The 15-year fixed rate mortgage requires 0.7 discount points plus closing costs.

Discount points are a one-time, up-front closing cost, based on loan size. If your loan requires 1 discount point, that means that your loan has a closing cost equal to 1 percent of your loan size. If your loan requires two discount points, the fee would be equal to two percent of your loan size; and so on.

So, based on this week's Freddie Mac survey, a home buyer in Brooklyn opening a $200,000 mortgage and paying 0.8 discount points would face to a one-time $1,600 fee to be paid at closing.
The good news is that discount points are optional.

To avoid paying discount points, simply ask your lender for a "zero points" loan. You'll get a higher mortgage rate than what Freddie Mac shows in its survey, but you'll pay fewer closing costs.

Today's low rates are terrific for both home buyers throughout new york and existing homeowners looking to make a refinance. As compared last year at this time, mortgage rates are down by 98 basis points -- nearly one full percentage point.

Mortgage payments are much lower today as compared to July 2011 :

• July 2011 : $512.64 principal + interest per $100,000 borrowed
• July 2012 : $455.77 principal + interest per $100,000 borrowed

Today's rates yield an 11 percent payment discount as compared to last year.

Mortgage rates are unpredictable so there's no guarantee that low rates will last forever, much less through the summer. If today's rates meet your household budget, consider locking something in.

LOCK YOUR RATE NOW!!!

Till next time

THE NEW YORK REAL ESTATE NURSE^sm  

FHFA : Home Values Up 3% Since Last Year

The Federal Home Finance Agency's Home Price Index shows home values up 0.8% in April on a monthly, seasonally-adjusted basis.


April marks the third consecutive month during which home values increased and the index is now up 3 percent from last year at this time.

As a home buyer in Brooklyn , it's easy to look at the Home Price Index and believe that its recent, sustained climb is proof of a broader housing market recovery.

There are three main flaws in the FHFA's Home Price Index. They cannot be ignored.

First, the FHFA Home Price Index's sample set is limited to homes with mortgages backed by Fannie Mae or Freddie Mac. By definition, therefore, the index excludes homes with mortgages insured by the FHA.

5 years ago, this wasn't such an issue because the FHA insured just 4 percent of mortgage. Today, however, the FHA's market share is estimated to exceed 30 percent.  This means this the HPI excludes more than 30% of U.S. homes from its calculations right from the start.

The index also excludes homes backed by the VA; jumbo mortgages not securitized through the government; and, portfolio loans held by individual banks.

Second, the FHFA Home Price Index is based on the change in price of a home on consecutive home sales. Therefore, it's sample set cannot include sales of new home sales, nor can it account for purchases made with cash because cash purchases require no mortgage.

Cash purchases were 29% of the home resale market in April.

Third, the Home Price Index is on a 60-day delay.

The report that home values are up 0.8% accounts for homes that closed two months ago, and with contracts from 30-75 days prior to that. In other words, the Home Price Index is measuring housing market activity from as far back as January.

Reports such as the Home Price Index are helpful in spotting long-term trends in housing but data from January is of little help to today's New York home buyers and sellers. It's real-time data that matters most and the best place to get real-time housing market data isn't from a national home valuation report -- it's from a local real estate agent.

See your local Agent for your local home values. Get a Market Report.

Till next time,

THE NEW YORK REAL ESTATE NURSE^sm