If you plan a vacation to the Big Apple, there are a few things you should consider before making any plans. First of all, make sure to organize your budget properly. Although money is often times an issue, there are still amazing places to explore in New York without spending a dime.
Visiting Brooklyn
First of all, you just have to stop in Brooklyn. Situated just across town from Manhattan, over the East River, it is stuffed with good restaurants, nice coffee-shops, and beautiful parks. To get there you have to cross the Brooklyn Bridge, which also offers an amazing view over the city. Once you get there you ought to visit “DUMBO”, a unique art gallery, take photos on the Fulton Ferry Landing, and don’t forget to try the famous Brooklyn ice-cream.
Explore the beaches
New York during summer time can be really engaging. Seeing the coasts and admiring the beaches is free of charge. The location is additionally recommended for families with kids, couples who love long walks and youngsters who adore people-watching. Also, you can take more photos of Astroland and have a nice time on the beach’s traditional theme park. Hurry up, because the theme park is open only by the end of the season.
Don’t forget about Central Park
Another place worth visiting in New York is the famous Central Park. It was originally designed for the town’s elite, but today it attracts tourists from all over the world. It manages to blend three of the best summer traditions that New York has: The New York Philharmonic’s Concerts, Public Theatre’ Shakespeare in the Park, and summer stage concerts. Also, if you’re a sport fan you can always sail a boat on Conservancy Lake or throw a Frisbee on the Great Lawn.
The Bronx Botanical Gardens
Gardening can be such a soothing hobby. Hence, if you want to learn some new tips visiting the Bronx Botanical Gardens will be an unforgettable experience. It will be an interesting experience, not to mention that you will learn a lot of new things about flowers, plants, and gardening in general. The entrance fee is usually $16 for adults, but if you come on a Wednesdays between 10 and 12 a.m. your tour will be free of charge.
The Staten Island Ferry Ride
You can’t leave New York without experiencing a thrilling ride with the ferry to Staten Island. It is the perfect opportunity for locals and tourists to chill out, have a drink, and admire one of the most important symbols of the city, the Statue of Liberty. In addition, the trip also offers the most amazing overview of The Big Apple.
Have Fun at the Street Festivals
What better way to catch the true spirit of New York than attending the Street Festivals? The crowded streets, the amazing performances, and the blissful mood will make a lasting impression on every traveler to NYC. Check out some of the city’s finest festivals for the month of June:
• June 1-3: Feast of Anthony of Giovinazzo, Mulberry Street between Broome and Spring Streets.
• June 3: 2nd Avenue Street Fair, 2nd Avenue from 66th to 86th Streets.
• June 9-10: Big Apple BBQ Block Party, Madison Avenue from 23rd to 26th Streets.
• June 12: Museum Mile Festival, Fifth Avenue from 82nd to 105th Streets.
• June 23: Pride Fest, 8th Avenue from 14th to 23rd Streets.
New York can be delightful during the summer season. The lively people, the beautiful surroundings, the array of activities, and the attractions, will convert everyone’s journey into a memorable experience. Money should not be an inconvenient in the city because most places of interest are free of charge.
Chosen as a Wall Street Journal house of the week, the $14.8 million penthouse of former lace manufacturer Bruno and Bonnie Hofmann boasts 6,265 square feet of combined space in an Upper East Side condominium. Founder of Hofmann Laces Ltd., Bruno Hofmann’s company designed and produced furnishings, apparel and lace draperies and window coverings.
To get that expansive space, the Hofmann’s first combined two apartments purchased in 1997, and then in 1999 they bought an additional unit for use as a guesthouse. A major $5 million renovation completed joining the spaces by enclosing a terrace to completely connect the apartments. A custom-designed lounge with imported Costa Rican wood completes the galleria.
Total, the home has four bedrooms and five and a half baths. Placed on the market as one unit, the home, in a building on East 87th Street, between Lexington and Park Avenues has dramatic views and spectacular light from its windows on all four sides. An al fresco terrace offers a vista of New York City and a secluded spot for rest and relaxation. The terrace is directly accessible from the gourmet kitchen.
The Hofmann’s placed the home on the market in 2010 for $19.75 million, and then again in 2011 for $16.8 million. After they withdrew the home from the market, they recently relisted it at the price of $14.8 million. The couple intends to relocate to their property in Hawaii.
If you’re currently in the process of becoming a homeowner in the United States, locating homes that you have the means to afford may not be the only issue you face. There have been many homeowners that have found the perfect home for them and their families but have difficulties in getting approved for a mortgage. When looking to attain a reasonable mortgage deal, there are certain guidelines you should adhere to in order to increase your chances of being accepted.
Freeze your credit score
Once you feel like you have a credit score you feel comfortable applying for a home loan with, do your best to keep it. Freeze your credit score by refusing to make any unnecessary inquiries for credit cards or any other form of loans. A good rule of thumb to follow is that the higher your credit score, the higher your chances of receiving a lower rate on your mortgage.
Strive to increase and maintain a credit score of 760 or higher in order to be considered for that dream home. You should steer clear of making any large purchases within 90 days of applying for a home loan. Even if the balance is completed paid for before you apply for the loan, you may notice your credit score drop.
Take your time
Many contracts associated with home purchase will only offer you about a 10 time frame in order to make a decision on the home. Make sure that you ask the agency for more time so that you can weigh all of your options before making such a significant decision,.
Gather a minimum of 6 estimates
Searching for national lending firm may provide you with a reliable lender at rates you can actually afford. Aside from researching national lenders, check with your local bank or credit union to evaluate what options they may provide. Make sure that you remember to ask the lenders for an estimate on the final closing costs which some may not provide if you don’t ask.
Only pay to lock for time needed to close the loan
The typical time needed to close a loan is about 2 months (mtgprofessor.com) and asking for an extension may cost more than you expected. Be sure to ask your lender the amount of time they will be required to complete the loan and make sure that you the lock period equals this time frame and not a day earlier.
Strive to attain Adjustable Rate Mortgages
If you’re absolutely sure that you will not occupy your home for more than seven years, adjustable rate mortgages may be extremely beneficial. The current percentage on an adjustable rate mortgages held for 7 years is a little above 3% while the percentage on a 30-year fixed rate loan is well above 4%.
Consult a Loan Broker
If you are in need of a large loan or have any other peculiar loan needs will have the best opportunity to obtain a great mortgage deal from an expert broker with a large network of lenders.
Follow these 5 ways to get a great mortgage deal will put you in a better position to be approved for a mortgage loan. If you’re in the market for a home make sure that you properly allocate your time towards finding affordable homes as well as increasing your chances of qualifying for a home loan.
The former home of Mary Kay Ash, founder of Mary Kay cosmetics, is back on the market for $3.3 million. Kay founded her company in 1963—partly out of frustration when her then-boss passed Kay up for a promotion, and offered position to the man Mary Kay Ash trained on the job instead. In 1969, Kay began giving the well-known pink Cadillacs to her top sellers as rewards for great work.
Kay’s mansion was designed by Dallas Design Group in 1984, and also doubled as the Mary Kay Cosmetic headquarters until 2000. Even though Kay didn’t design the home herself, there are plenty of odes to her extremely successful cosmetic company, include a pink quartz toilet and bathtub, which makes the home customized.
The listing agent wouldn’t be surprised if the next owner is also a wealthy, savvy businesswoman, but won’t turn down an offer if a man desires to purchase the home. Even though the outside of the home is a pastel pink shade, the home’s interior possesses an upscale feel that is a contrast to Mary Kay’s signature color.
The mansion is located on an acre of land in Dallas’ Old Preston Hollow neighborhood, and has ceilings that are 40 feet high. The foyer is decorated with busts of famous music composers. Intricate moldings and paneling are featured throughout the entire house; the Mary Kay mansion also boasts beveled glass windows that showcase the breathtaking view of the terrace gardens. The property grounds were fashioned to look like the San Simeon estate, William Hearst’s beautiful California home.
The Mary Kay mansion’s current owner made some renovations to the mansion; she added new pain, brand new floors, a kitchen with updated appliances and a geothermal heating and cooling system.
During a time when women were expected to be homemakers, Mary Kay’s definitely stood out in a positive way.
New York apartments, owned by late heiress Huguette Clark, sell for approximately $55 million
Three apartments in Manhattan owned by the estate of reclusive copper heiress, Huguette Clark, are under contract for roughly $55 million. There are numerous buyers for the properties.
Located in a building on Fifth Avenue, right, each apartment spans approximately 5,000 square feet and has anywhere from 10 to 14 rooms. The largest property is on the 12th floor and overlooks Central Park. The residence went into contract for about $24 million, its asking price. The other two apartments are in contract for roughly $19 million and $12 million respectively, also their asking prices.
Clark, the daughter of copper baron and U.S. Senator William Andrews Clark, initially moved into the 12th floor apartment in the 1920s with her mother. It was her primary residence for years, although she spent the last 20 years at a New York hospital before dying in May 2011 at age 104.
The late heiress’ estate also lists a 52-acre property in Connecticut for $17 million
A little over a month ago, Le Beau Château, a 52-acre property in New Canaan, CT, which Ms. Clark purchased in 1952, was reduced from $19.8 million to $17 million. The house has seven bathrooms and nine bedrooms. It features 13-foot-tall ceilings, 11 fireplaces, herringbone floors and all-original, marble windowsills. The master suite overlooks a waterfall and includes an artist’s studio, a sitting room and a balcony.
San Francisco mansion sells for $27 Million
Michael and Roxanne Klein purchased the San Francisco home, owned by Ron Zeff the founder of real estate investment company Carmel Partners, for $27 million. The 16,580-square-foot home was initially listed for $32 million.
A Silicon Valley entrepreneur, Klein is now chief executive of Modulus Guitars, a company that Bob Weir from the Grateful Dead helped found. Klein’s wife is a well-known raw-food chef.
Zeff bought the neoclassical-style home in 1998, according to public records. After purchasing it, he spent the next several years completely restoring and redesigning the property. The home, originally built in 1910, has six bedrooms and features an indoor basketball court, an elevator, a one-bedroom au pair suite, a wine cellar and terraces on the top level with views of the Golden Gate Bridge and San Francisco Bay.
Ranch lists for $49.5 million
A 610-acre ranch in Basalt, CO, approximately 40 minutes from Aspen, has hit the market asking $49.5 million.
Owned by Tom and Molly Bedell, the property known as Peace Ranch encompasses five residences with a total of 16 bedrooms and has a hot tub and pool. The ranch also has a year-round horse facility with indoor and outdoor riding arenas, horse stalls, irrigated hay fields and horse trails that run throughout the property. The indoor riding arena has functioned as a dining and concert venue for charity events and hosts up to 1,200 guests.
In 2007, Bedell and his investors sold the fishing-tackle company that he ran for decades for approximately $400 million. The couple plans to spend more time in Nashville, TN, where they recently opened a branch of their store, Two Old Hippies, which sells guitars, memorabilia and clothing.
Connecticut home prices down but sales up
The number of Connecticut single-family home sales increased the first quarter, while median prices dropped to their lowest level since 2003, according to data by Boston-based real estate analysts, the Warren Group.
Sales of single-family homes rose more than 5 percent to 4,157 in the first quarter of this year, up from 3,950 the previous quarter. Sales in March increased 4.5 percent to 1,610, up from 1,540 in the same month last year.
But the median sales price for single-family homes in the first quarter was $215,000, a decrease of 6.5 percent from $230,000 in the same period last year. That is the lowest median sales price recorded in the state since 2003. A total of 1,134 Connecticut condos sold the first quarter, a 1.4 percent increase from 1,118 in the same period in 2011.
In March, condo sales decreased 10 percent to 430 transactions, down from 480 in March of last year. Median sales prices for condos also dropped more than 4 percent to $158,250 from $165,000 quarter-over-quarter.
New Jersey
Fort Lee redevelopment plan unveiled
Tucker Development, an Illinois-based firm, has revealed plans for a $1 billion redevelopment project near the George Washington Bridge in Fort Lee. The developer is seeking approvals for Hudson Lights, which would include a 175-room hotel, 477 residential units, approximately 165,000 square feet of retail and parking for about 1,175 cars.
In March, the Fort Lee planning board approved plans for the eastern half of the project, which includes a museum, two 47-story residential towers — the tallest buildings in Bergen County — in addition to a movie theater, a restaurant and a park.
Fort Lee Redevelopment Associates is developing the eastern half. All together, the projects — Fort Lee’s largest redevelopment project to date — would add more than 187,000 square feet of commercial space as well as 1,379 residential units to the borough. If the Hudson Lights portion of the project is approved, the developer says that construction could begin as early as this summer.
Long Island
“Great Gatsby” mansion sells
The estate said to have inspired the mansion in F. Scott Fitzgerald’s classic “The Great Gatsby” has sold. Known as the Brickman Estate, the 20-acre property had been on the market since September 2010 and was listed for $39.5 million. At press time, the buyer’s identity and sales price had not yet been released to the public.
The estate, set at the tip of a peninsula, was last owned by the late John Handler who passed away in 2008. Built in the early 1850s, the stucco mansion is believed to be the last remaining 19th-century mansion on the North Shore of Long Island.
The property has 10 residential buildings and 1,600 feet of waterfront, with views of the Long Island Sound, New York City as well as Manhasset Bay. When Fitzgerald began writing “The Great Gatsby” in the 1920s, he lived in Great Neck.
A new development has been catching home buyers off guard. From Florida to California, many buyers find themselves competing for the same home. Unlike the bidding wars that typified the go-go years and were largely a reflection of surging sales, the current market is a result of supply shortages.
Competitive bidding today isn’t producing huge price increases or leaving sellers with hefty profits, like it did during the housing boom. Still, the bidding wars caused by tight inventory provide the latest evidence that housing demand is beginning to pick up again after a six year slump.
An index measuring the number of contracts signed to purchase previously owned homes increased in March to its highest level in nearly two years, up 12.8 percent from a year ago and 4.1 percent from February, according to the National Association of Realtors.
The chief executive of a research firm, Ivy Zelman said, “We very much believe we’ve hit bottom.” In April, she increased her home-price forecast for the year, calling for a 1 percent annual gain, up from a 1 percent decline.
The quarterly survey by the Wall Street Journal found that the inventory of homes listed for sale declined sharply in all 28 markets tracked. Realtors consider a market balanced when there is a 6-month supply of homes for sale. At the height of the 2008 housing crisis, there was an 11.1-months’ supply. In March, there was a 6.3-months’ supply.
Inventory levels in many housing markets were at the lowest level in years. At the current pace, it would take just 1.5 months to sell all the homes listed in Sacramento and 2.4 months to sell all the homes listed in Phoenix. San Francisco and Washington, D.C., each have 3.4 months of supply, and Miami has 4.1 months of supply.
Other markets have plenty of homes. Chicago, for instance, has 9.4 months of supply, while New York’s Long Island has 16.1 months of supply. Even in those markets though, the number of houses for sale is edging down.
Increased competition is frustrating realtors and their buyers. Many agents say they’re writing a record number of offers but not seeing a record number of closings.
For a number of reasons, inventories are declining. Some sellers, unwilling to accept prices that are still down from their peak by one-third, are taking their homes off the market hoping for higher prices in the future. Meanwhile, investors have been outmaneuvering sellers for the best properties, often making cash offers that they quickly accept.
Additionally, some experts say that inventory levels are being held artificially low because Freddie Mac, Fannie Mae and the country’s largest banks have been slow to list for sale the hundreds of thousands of foreclosed homes they currently own. The lenders slowed down repossessions and foreclosure sales after record-keeping abuses came to the surface about a year and a half ago.
At the end of March, mortgage investors and banks owned nearly 450,000 foreclosed properties, and another two million mortgages were in some stage of foreclosure.
If the banks and other lenders step up their efforts to sell their properties, inventories could increase, putting more pressure on prices. Real estate agents say they aren’t concerned. They see that home buyers are definitely interested in foreclosures. Once the inventory is released, it can’t help but sell, they say.
Advanced electronic devices have not only changed the way we work, they have altered our lives at home. While it once appeared miraculous that a garage door could be opened by a remote control device, it is now considered commonplace to use an application on a smart phone to check whether a door is open or shut. Technology has become so critical to how a house operates that homes are now designed with such functions in mind.
Keyless entry systems are now incorporated into houses when they are built along with devices to control thermostats and turn on lights. These procedures can be remotely performed via computers or by phone.
Integrating smart phones into home design
Home builders have noted how people are using smart phones to perform many routine chores. The tendency has become a selling point. Homes are now marketed as intelligent in design. Sellers emphasize the capacity a house has to use cell phone technology.
Increased demand for smart homes
Realtors report that buyers are eager for more when it comes to advanced electronics within homes. One factor that limits expansion is the number of applications needed to make all these systems work. People can end up using a dozen or more applications to make their homes function. Efforts are now being made to streamline the process so that a single application can perform multiple duties. People end up with just two applications. One will cover such things as lights and temperature. A second will control entertainment systems such as televisions and stereos. This sort of consolidation eliminates the need to have multiple remote control devices. A single gadget controls everything.
Tasks become simpler when there is only one device needed to maintain control over everything. Homes now contain so many electronic systems that many people have become confused how to make them all work. Things considered a convenience can become a barrier to relaxation. Some people have reverted to manually operating their televisions and music systems when it started to get difficult to track which remote control device to use. The aim now is to make the modern home a place of ease.
Voice automated systems at your command
In the future, voice activated systems may predominated in homes. A person entering a house will announce himself, and the lights will turn on along with the air conditioner and stereo. Voice commands in the kitchen may turn on the oven. Additional statements will regulate the temperature and cooking time. These sorts of advances will not be limited to the well to do. Large scale use of such technology will lower costs making these advances affordable to all.
Smart home prices expected to increase
Increased demand for smart homes will drive prices lower for the systems needed to make them work. Whenever a new technology is introduced, the cost of the products needs to cover the price for development and design. This makes them expensive at the start. Over time, costs lower making the products affordable to a larger audience. With more purchases taking place, the price per unit will drop further. Smart homes will therefore become not only smarter; they will also be more affordable.
A 69 acre estate on the island of Nantucket has recently become available in New England’s housing market and has been attracting a lot of attention. With the asking price for this hideaway at $59 million it qualifies as one of the most expensive properties in New England.
Nantucket Estate’s History
This enormous estate resides in the Swain’s Neck area of the island and has coined the name of the Swain’s Neck compound. The previous owner purchased this massive property in 1997 for a measly 7.15 million dollars and the value of the compound has continued to rise since then. The property value of this home has increased over 700% within the last 15 years is 1 of 20 most costly homes on the market nationwide. If this home is sold at the asking price it will break the record of the most expensive purchase on the island of Nantucket that is currently held at 27 million dollars and close 40 years for New England in general.
Nantucket’s Luxurious Background
This impressive property follows a real estate trend which has shown that Nantucket properties make up the bulk of the most expensive properties sold in Massachusetts. The exclusive location of this property plays a major part in it’s value. The property it located on a harbor and surrounded by water on 3 sides of the property. The Swain’s Neck compound offers it’s next owner plenty of privacy and the more acres of land than almost every other estate in Nantucket. When it comes to privacy, all guests who want to enter the property must cross a private bridge and must identify themselves at a security gate.
What Swain’s Neck Compound has to Offer
The estate is made up of four different structures. There is a main home, a guest home, an office building and a boathouse. The main home has one master bedroom with its own fireplace and four bedroom suites. The home is decked out with a private balcony area, a high tech entertainment room and kitchen has double wall ovens and granite counters.
With 69 acres there is plenty of space outdoors for sports and water activities . The private beach, basketball courts, tennis courts and other amenities are perfect for family activities or having guests over.
This is a unique home with so much to offer and every amenity you can think of. So much land in such an ideal location is what really makes this property such a beauty. Many people associate Nantucket with spacious and luxurious properties such as these and the Swain’s Neck compound is one of the premier estates on the island.
Nantucket is a popular holiday area for some of the most prominent and influential individuals around the world. The Swain’s Neck property has been attracting the attention a lot of people and for some pretty good reasons. This huge 69 acre property is sure to make it’s next owner pretty proud and with the price tag of $59 million it’s well worth every penny.
According to Freddie Mac reports, mortgage rates have dropped to historic lows for three weeks in a row, raising the Housing Affordability Index to record highs for May 2012. The index measures how easily an average household with median income can afford a median-priced home. Rates continue to drop even while the economy appears to be improving.
Freddie Mac vice president and chief economist, Frank E. Nothaft, charges the continuing European debt issues with upstaging U.S. economic gains, causing the paradoxical decline in interest rates. Fixed mortgage rates and Treasury bond yields, in particular, continue to decline even while industrial production, for example, had its greatest increase since the end of 2010 and regardless of consumer sentiment, which the University of Michigan reports is at its highest since January 2008.
As seen in the Primary Mortgage Markey Survey (PMMS), the way these rate declines break down in the four major mortgage categories—30-year and 15-year fixed rates; and five-year and one-year adjustable rates—and over the rates from a year ago are as follows:
Fixed-rate mortgages showed as 3.79 percent for 30-year and 3.04 percent for 15-year. Both were down an average of 0.7 for the week that ended on May 17, 2012. One year ago, 30-year rates were at 4.61 percent and 15-year rates were 3.80 percent. Since December 2011, 30-year rates have been below 4 percent.
The five-year adjustable rate mortgage (ARM), known as the Treasury-indexed hybrid, averaged 2.83 percent, which is up from last week’s 2.81 percent, but well below last year’s 3.48 percent. Additionally, similar one-year ARMs averaged 2.78 percent, which, although 0.5 percent higher than last week, is 0.37 below the rate this time last year.
For those that can qualify, there has not been a better time to buy or build. In fact, the home construction industry reports housing starts at well above forecasted levels, according to Nothaft, and single-family home construction in May out-paced the preceding three-month average. The National Association of Home Builders/Wells Fargo Housing Market Index (HMI) shows single-family homes up five points in May 2012: the strongest reading since May 2007.
The National Association of Home Builders (NAHB) chairman, Barry Rutenberg, reports that buyer traffic and sales have “resumed the gradual upward trend in confidence” that we evident at the start of the year. The result is that prices are more stable and affordable, and that encourages more buyers to purchase new homes. The NAHB chief economist, David Crowe, believes that the pace of recovery would be more pronounced if access to credit would improve. Other factors impeding a full upswing are the rising cost of building materials and faulty appraisals.
