Weekly Roundup: Renters, new market stats, dropping loan rates, foreclosure purchase risks, credit misconceptions, kitchen trends, and more

Renters don’t stay put for long in the financial district

New York magazine explores world of platonic urban cohabitation i.e. roommates

Housing signals mixed in metro region

Four things to bear in mind when buying an apartment for your kids

19 percent more building permits issued in 2012 than in prior year

Committee ranks Upper East Side tops for kids, Bay Ridge beats all other Brooklyn neighborhoods

Request for proposals to redevelop Lower East Side sites signals end of bitter renewal squabbling

Foreclosures in region higher in December than a year earlier

Estate in the Hollywood Hills finds friendly buyer but at greatly reduced price

Legendary rocker faces foreclosure of Yorktown home with outstanding $735,000 mortgage

Celebrity connection fails to boost price of long-listed apartment left by late restaurateur

Fashion designer lists for $6 million SoHo loft he and his partner purchased for $4.65 million — in 2011

Actress makes smashing deal for sale of her L.A. home for $11.4 million

Revered but retired basketball player scores North Carolina lakeside mansion at steep discount

Pending sales soar 9.5 percent above previous January

Case-Shiller records strong finish to 2012

Inventory continues to grow at sluggish pace, flirting with lowest level perhaps just months from now

Sales of new homes in January exceed expectations

First-time buyers contributing little to rebound

Average home price rises to $207,000 in December

And sales of foreclosed property last year decline 6 percent from 2011, 11 percent from 2010

Investors soaking up inventory that homeowner hopefuls otherwise would buy, pushing up prices

Jumbo mortgages experience rebirth, though far from 2007 levels

After treading water at low tide, rates sink again

Loan activity sags 3.8 percent from prior week

JPMorgan cutting up to 15,000 jobs in mortgage unit

Foreclosure activity in January 17.8 percent below one year earlier

Mortgage delinquencies slide as well, from December to January and from January 2012

Economist magazine explains why banks keep loan rates so high — uh, because they can

BofA reports that it’s being investigated by New York attorney general in relation to mortgage-backed securities

Borrowers turning to interest-only mortgages again so they can invest cash elsewhere

Mortgage debt stabilized, possibly poised to rise

Rising prices, thinner inventories present new opportunities for sellers in some markets

Potential bargains with foreclosures can carry big risks

Getting references key to picking right real estate agent

Airbnb, others consolidate efforts to have cities permit short-term stays

Growing senior population won’t be able to age in place

It can cost borrowers who fall prey to conventional wisdom about debt and the biggest mistakes consumers can make

Housing for college students attracting biggest names in real estate development

At $600,000 a month, unsold Beverly Hills house most expensive rental in country

Bloomberg Businessweek comes under Twitter fire because of cover featuring African-Americans, Hispanics

Some buyers clamoring after work of lesser-known architects who practiced decades ago

Quartz countertops, hidden dishwashers and refrigerators, functional storage hot in kitchens now

Electronics create sizable, thus costly, ‘phantom load’ even when unused

Three situations warrant professional home inspection of apartment going to contract

DIY restoration of antique chair can cost no more money than sandwich but thousands in time

In age of e-books, updated bookshelves merit fresh look

The Times exhausts subject of couches with purchase advice and makeover suggestions

Renters of single-family houses likely to live in them much longer than tenants in apartments

Nearly 40 percent of renters who end relationship endure months more of living together

Third of consumers willing to pay premium for loan to get superior customer service

Will falling inventory cause prices to bump up?

Homeownership rate expected to remain above 60 percent

Two economists voice doubts about health of recovery

You have the option to search privately for all New York City properties here, though I encourage you to be in touch with me for assistance and advice. You also may want to see my critiques of properties that I visit in Out and About, which I will post on Tuesday next week.

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Malcolm Carter
Licensed Associate Real Estate Broker
Senior Vice President
Charles Rutenberg Realty
127 E. 56th Street
New York, NY 10022

M: 347-886-0248
F: 347-438-3201

Malcolm@ServiceYouCanTrust.com
Web site

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