An Important Message – The Real Estate Waiting Game Is Over

An important message from our in house lender Mortgage Master…..

The Real Estate Waiting Game Is Over

If you’re like a lot of homebuyers, you’ve probably found a comfortable spot on the sidelines of the real estate market to simply sit and watch. Who can blame you? Over the past several years, home values have decline considerably, sales volume has turned down, and mortgage rates have dropped.

There’s just one problem: none of that is true anymore. Furthermore, if you wait too long, missing out on today’s real estate opportunities could be more costly than you realize.

While, at one time, waiting out the market seemed the wisest possible play to make, the waiting game is over, and the “opportunity of a lifetime” — once characterized by cheap money and cheap homes — is clearly starting to pull out of the station.

Consider these statistics:

  • Home prices are creeping up. At the time of this writing, the median price for new homes sold in April hit $271,600, according to the Census Bureau. That’s higher than its 2006-2007 peak. April’s median home sales price for existing homes was $192,800, the National Association of Realtors reports, marking a 14-month run of consecutive year-over-year price gains. The last time that happened was from April 2005 to May 2006, at the height of the real estate boom.
  • Inventory is getting scarce. The inventory of existing home sales for April was 13.6% below April 2012’s 6.6-month supply, with current, and now only comprises a 5.2-month supply. New homes are in a similar boat, with a 4.1-month supply of homes at April’s sales pace.
  • Rates are showing signs of increasing. Over most of 2012 and the first half of 2013, the average rate on 30-year mortgages has been below the 4% mark, but that could be changing. In April, the average edged up on 4% with rates in the 3.91% to 3.98% territory, depending on the week and the lender. The last time mortgage rates were at 4% was March 2012.

But most importantly, it costs you money to wait — sometimes, lots of it. When the market starts appreciating, as it is starting to do, it is nearly impossible for your savings to keep pace with market gains.

Let’s take the median existing home as an example: If that home’s current $192,800 price tag increases by 5% over the next 12 months, its value will have gained $9,640 to hit $202,440. Will you be able to save $9,640 over a year, in addition to covering all your additional expenses? That’s a critical question you must ask yourself, because that amount of money could cut into your down payment or costs to close the loan.

Factor in an increase in mortgage rates and today’s deal could quickly elude you in just a few short months. If you are interested in purchasing a home, and don’t want today’s opportunities to escape you, now is the time to start running the numbers.

Call me today and I’d be happy to sit down with you to assess your current buying power and the financing options available to you!

Keep in mind I always offer FREE pre-approvals. If you are already working with another lender, reaching out for a second opinion is always a good idea.

* Mortgage Master is not a credit counseling or financial advisement firm and this information is for educational purposes only and is not to be taken as guidelines or guarantees to improve your credit or financial situation or eligibility to secure a home loan.

Christian G Babcock

Senior Loan Officer
www.mortgagemaster.com/cbabcock
Mortgage Master Inc. l 520 White Plains Road l Tarrytown, NY 10591
[o] 914.586.1108 [c] 914.447.9691 l [f] 914.206.9641 I NMLS ID: 181227
CLICK HERE TO APPLY ONLINE
Recognized as Top 1% of Loan Officers in America by Mortgage Executive Magazine
Mortgage Master All Pro Team

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E Patrice Hayes

Licensed Real Estate Associate Broker in NY, CT and GA

Member of The Institute For Luxury Home Marketing

Search homes at www.MultiStateRealEstateBroker.com
Search luxury homes at www.epatricehayes.com

Keller Williams Realty Group

Phone: 914.902.3220

 

Maldives resort offers world’s first luxury ‘underwater spa’

Maldives resort offers world’s first luxury ‘underwater spa’ World’s first underwater spa in Maldives
Huvafen Fushi, a luxury resort in the Maldives that claims to have the world’s first underwater spa, is offering an innovative new menu of wellness packages. The spa, named ‘Lime’, has added new treatments like Lose It, Tone It; Cellulite Therapy and Stress Buster, media reported.

The spa also has above-water treatment rooms for those who would rather be pampered above sea level. The underwater treatment rooms, which took 12 months to construct, are made of a solid-cast resin to create an underwater structure that could be set in the open ocean with minimal disturbance to the ecosystem of the Maldives.

According to the hotel the resin is five inches thick and it provides infinitely better clarity than the cheaper option of laminated glass. The island nation is also home to the world’s first underwater restaurant: Ithaa at the Conrad Maldives Rangali Island.

See more at: Post Jagran

Search luxury homes at www.epatricehayes.com

E Patrice Hayes, Luxury Property Specialist

Licensed Real Estate Associate Broker in NY, CT and GA

Member of The Institute For Luxury Home Marketing

Keller Williams Realty Group

Phone: 914.902.3220

Weekender: Meet Designer Vern Yip Saturday at Phipps Plaza

Weekender: Meet Designer Vern Yip Saturday at Phipps Plaza

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HGTV Home Pop-Up Showroom appearance by designer Vern Yip: Come meet Yip, known for his incredible interior designs during his time on Trading Spaces at the HGTV Home Pop-Up Showroom, which runs from now until June 4. Yip will only be there this Saturday.

When: Today, Saturday May 18, 2013 at 1-4 p.m.

Where: Phipps Plaza

Cost: Free

Read more at Buckhead Patch

E Patrice Hayes

Licensed Real Estate Associate Broker in NY, CT and GA

Member of The Institute For Luxury Home Marketing

Search homes at www.MultiStateRealEstateBroker.com
Search luxury homes at www.epatricehayes.com

Keller Williams Realty Group

Phone: 914.902.3220

Luxury Car Rental: Drive a Lamborghini For the Day

Maserati

Many car rental companies are now offering ultra high end vehicles.(Photo : Maserati)

Car rental companies have been contemplating offering high-end luxury cars recently, for those who want to convey a lifestyle or cachet with their vehicles.

Hertz launched the Prestige Collection in the U.S. in 2001, allowing clients the opportunity to choose from a selection of higher-end vehicles, such as Mercedes and BMWs.

Last year, Hertz decided to step it up, adding much higher end vehicles to their roster, such as the Ferrari F430 Spider, Lamborghini Gallardo and Bentley Continental GT. These vehicles all have retail costs that are six figures.

These ultra high-end vehicles are part of Hertz’s Supercars, a program that launched an online-booking platform last year. It was introduced in the U.S., U.K., France, Italy, Spain and the Netherlands. The program does not have a large collection, as the income level that would demand it is relatively small, with fewer than 200 cars on offer in total.

Hertz began adding ultra luxury cars to its luxury cars in 2011, when it added the Lotus Evora to its collections in 15 locations, mainly in airports, in Germany, Spain and the U.K.

“We wanted to gauge the appetite for luxury car hire,” Zoe White, a Hertz spokesman, told CNN. When the launch was an overwhelming success, Hertz added more to the collection.

Enterprise Rent-a-Car ran a similar business model experiment in the U.S. in 2005, when they launched their Exotic Car Collection in West Los Angeles. It included Aston Martins and Bentley convertibles. In a city that is all about image, the program was extremely successful.

Enterprise has now expanded the program to 13 additional locations across six states, with cars prominently displayed at the Los Angeles International Airport, where some customers choose to upgrade their vehicle on the spot.

“We have local customers who want to add a special touch to a big event, out-of-towners who want to enjoy their vacation in style and business travelers who use the cars to entertain big clients,” said Steve Short, the vice president of leisure business development for Enterprise.

Avis has gotten in on this aspect of the business as well.

“We found that people want to rent a luxury car in order to give the impression they are doing well for themselves,” said Kay Ceille, the managing director at AvisBudget U.K. “They want to stand out from the crowd and be taken more seriously.”

Ceille thinks that the recession is the best time to focus on luxury vehicle rentals, because in tough times, luxury rentals have increased in popularity.

Through market research, AvisBudget found that their U.K. customer base was renting vehicles from the Prestige Collection and Select Series, their vehicle fleets comprising BMWs and Jaguars, for the purpose of impressing someone else for both personal and professional reasons. They found, for example, that more than a quarter of the customers surveyed chose to upgrade before a job interview.

“For customers who want a taste of the millionaire lifestyle, it’s value for money,” said White, adding these rentals often come with perks, such as a chauffeur or airport meet-and-greet service.

These ultra luxury vehicles are still very pricey. A Mercedes SLK Sport can cost more than $200 per day and a McLaren MP4-12C can cost around $1,300.

It’s still much cheaper than buying one.

Read full article at Travelers Today

Search luxury homes at www.epatricehayes.com

E Patrice Hayes, Luxury Property Specialist

Licensed Real Estate Associate Broker in NY, CT and GA

Member of The Institute For Luxury Home Marketing

Keller Williams Realty Group

Phone: 914.902.3220

Double luxury on the beach in Thailand

baantawantok02-300x199.jpgbaantawantok04-300x199.jpg

Koh Samui continues to set the standard for private holiday villas in Southeast Asia. The island’s modest size, proliferation of protected beaches and boutique approach to tourist services have made it a hit with luxury travellers from around the world looking for a sheltered, upscale retreat.

A recent addition to the luxury villa landscape on Koh Samui is Baan Tawan Tok— an arresting two-villa residence with some unique architectural features and an appealing choice of personalised facilities. Available as a combination double-villa hideaway, providing 10 bedrooms in total, the villa suits families or groups looking to share an idyllic private holiday on Koh Samui and has therefore attracted plenty of bookings through the recent high season months.

“The owner really believes its the perfect venue for a mutli-generational get together,” said Wayne Hue, director of sales and marketing for Luxury Villas and Homes Ltd, which manages the villa. “He and his family use the property in this way and there are therefore plenty of facilities to enjoy activities together. The floodlit tennis court is really quite unique, and there are also kayaks, pool games and bikes. There are even lots of small areas to practice yoga, both outdoors and indoors.”

Thanks to its size, guests can easily strike the perfect balance at Baan Tawan Tok between personal and communal holiday pleasures, with individual villas to retreat into to complement the impressive range of appealing private facilities on offer. The exclusive beachside property also boasts stylish design features and attractive Asian influenced furnishings and decor in natural tones, which combine to create an atmosphere of relaxed tropical luxury. Read more at Property Report

E Patrice Hayes, Luxury Property Specialist

Licensed Real Estate Associate Broker in NY, CT and GA

Member of The Institute For Luxury Home Marketing

Search homes at www.MultiStateRealEstateBroker.com
Search luxury homes at www.epatricehayes.com

Keller Williams Realty Group

Phone: 914.902.3220

New Luxury Gentleman’s Retreat at Ellenborough Park, Near London

ellenborough_park_hotelPhoto: Ellenborough Park

Located in the spectacular rolling countryside of the Cotswolds, Ellenborough Park is a 16th century country house hotel offering the perfect mid-week getaway for those seeking a deluxe male relaxation experience.

Just over two hours from London, the incredible scenery of Ellenborough Park’s grounds and surrounding landscape offers guests a further opportunity to escape.

Guests can escape their daily routines and indulge themselves in ultimate comfort and luxury through a rejuvenating spa experience, exquisite fine food and wine, along with enjoying the extensive grounds and facilities at this luxurious 5-star award-winning hotel.

The Indian-themed spa offers the ideal venue for relaxation with three separate secluded treatment rooms.

Hotel guests can relax and wind down in the hydrotherapy pool, sauna and steam room. if you’re feeling more energetic, then take advantage of the property’s amazing fitness suite facilities or outdoor swimming pool, heated to a perfect 31 degrees.

Ellenborough Park is part of Mantis, a collection of five star boutique hotels and eco-escapes around the world. Ellenborough Park which was sensitively restored back in 2011 and has proudly been awarded a number of prestigious accolades since re-opening, most recently winning Leading Country House Hotel and Leading Spa Hotel at the World Travel Awards 2012, along with being voted Trip Advisor’s Traveller’s Choice No. 1 UK Luxury Hotel.

Gentleman’s Luxury Retreat at Ellenborough Park is available Tuesday – Friday from £625

· Overnight stay in a luxury room
· 1 hour – 25 minute spa treatment of back massage, manicure and pedicure

· 3 course fine dining with 3 selected wines specially selected by hear sommelier Clio Giudici

See more at: The LIfe Of Luxury

See luxury homes for sale in Westchester, NY and Fairfield, CT at www.epatricehayes.com

E Patrice Hayes, Luxury Property Specialist

Licensed Real Estate Associate Broker in NY, CT and GA

Member of The Institute For Luxury Home Marketing

Keller Williams Realty Group

Phone: 914.902.3220

Elegant Chairs From BRYCLA – For That Special Occasion

BRYCLA chair

BRYCLA

BRYCLA manufactures luxurious chairs that are used at a variety of high-end events and occasions including: Royal/Celebrity weddings and VIP functions.

Research conducted by the chairmaker discovered that when people get married, they only have the same old rental chair to sit on. It doesn’t matter whether they have spent $20,000.000 or just $2,000 on a wedding … it’s the same old rental chair.

BRYCLA chairs are used at only the worlds most exclusive events where a client desires nothing short of perfection, yet also demands a product that no one else would have used at a previous another wedding or function.

The mission of BRYCLA is to manufacture luxury chairs that provide their clients a bespoke product that no one else would have seen before and transforms any venue.

Since the company only sells direct, hey can offer amazing prices. BRYCLA wholesale prices are £2,000 for their stunning 22 carat gold plated “Royal” chair and £360 for the Chrome “Platinum” chair.

IRrT5ebTD1Y?utm_source=feedburner&utm_medium=emailRead full story at The LIfe of Luxury

Search luxury homes for sale or lease at www.epatricehayes.com

E Patrice Hayes

Licensed Real Estate Associate Broker in NY, CT and GA

Member of The Institute For Luxury Home Marketing

Keller Williams Realty Group

Phone: 914.902.3220