Staten Island Real Estate & Beyond

Daily Archives: February 11, 2012

Mortgage rates up for the week… Now eyes turn toward Greece bailout.

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February 11 Real Estate Staten Island Mortgage Rate Report

Staten Island Mortgage Rate Trends Chart

Mortgage rates have started to increase this week. The 30-year fixed and the 15-year fixed rates increased by 0.02%, making them 4.14% and 3.36% respectively. The 5-year adjustable rate has increased by 0.03% making it 3.05% this week. These increases could be caused by the positive economy and employment market reports released last week. However, the EU debt situation in Greece and how debt negotiations pan out will prove pivMortgage Rates for Staten Islandotal to interest rates. The European Debt Crisis is weighing on the minds of the institutional investment community, and have not bought into the idea of moving substantial sums of investors’ money from treasuries into equities. The improvements in the unemployment have caused some to dabble a bit in equities, but tepidly, leading to this weeks slight rise in mortgage interest rates.
 
Mortgage applications also surged last week, up 7.5%. About 80% of these applications were for refinances.  Since the rates last week hit record lows, it explains why there was an increase in mortgage applications. Everyone is trying to get the lowest rates possible at this point and now is a good time.

To sum it up; with the release of the employment report for January, many thought that the mortgage rates were going to increase substantially. The report showed a gain in jobs and was better than economists expected it to be. However, the rates didn’t increase as expected, mainly because investors are still skeptical for now. 
With the Fed trying to keep mortgage rates low until late 2014 and the positive economy reports, rates may start to rise. If they do, it will most likely be over a long period of time, and it will happen little by little each week.

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South Beach home hits Staten Island real estate market.

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February 11 Home for Sale Listings Real Estate South Beach Staten Island

 

Kitchen at 47 Pearsall St., South Beach

South Beach is home to some of the most desired homes due to its proximity to the beach. It is in this area that you will find our latest listing, 47 Pearsall Street.  As you approach the home, you will find yourself in a serene setting on a private and quiet street.  Once outside, you will be awestruck by the beautifully-manicured front lawn leading up to the brick and vinyl home.

See the complete listing for 47 Pearsall St.

As you walk along the pathway to the house, you will find that the main façade is shielded by beautiful flora. As you walk up the pathway to the home, you will find a gate just before you.  Just past this you will see the entrance to the home on the left side of the house. 

All brick front and new paver stone surround this well manicured home

Once inside, you will be lead into an updated kitchen.  Here, you are already equipped with a refrigerator, a dishwasher and a microwave.  Just past here is the dining area, with sliders to the deck.  On the deck, you will find steps leading to your magnificent back- and side-yard.  Back inside, you will find a comfortable living room to your left, followed by the bathroom. This bathroom is in excellent condition, with its lovely vanity and tiles.
 
Adjacent to the home’s living room and main bathroom you will find the master bedroom. This room was once used as two bedrooms, but has been converted into one to match the enormity of the rest of the rooms in the house.  Here, you will find a large, walk-in California closet and hardwood flooring.  From the outside, you may think this home is quite small, but once you pass the gate, you will find it to be quite large indeed, with a living space of 704 square feet—and we haven’t even mentioned everything, yet.  Underneath these rooms is the full basement.  While it may be unfinished, this tiled basement is quite large if you look past the plumbing for the kitchen and bathroom.

The surrounding neighborhood is just as wonderful as the house itself. You have great schools, a library and the Verrazano-Narrows Bridge right in the area, making your Manhattan commute a virtual breeze.  The street on which this house is located is right off of Olympia Boulevard, which is where you can wait at the bus stop for the local s52 bus. This bus will take you to the St. George Ferry Terminal or Staten Island University Hospital North, which is only about a half-mile away from the home. A quick trip to Father Capodanno Boulevard is the South Beach Park and Ride, where there are a number of other buses, including express buses into Manhattan.  Also, you also have plenty of places to shop and eat along nearby Sand Lane, which will also see its first Key Food, a major supermarket chain set to open later this year. A major supermarket will be a huge contributor to this very walkable community for those that call 47 Pearsall St. their next home.

The best part of living in this community, however, is the nearby Franklin D. Roosevelt Boardwalk which, on top of having many recreational facilities, including active recreational parks, is right next to the beach on Raritan Bay. For the Fishing enthusiast, the nearly new

The nearby South Beach Fishing Pier

South Beach Fishing Pier has been a staple for locals to enjoy over the several years. When you combine the home, its location, and most of all its price 47 Pearsall St. is one great package deal.

For more information on this South Beach Staten Island home for sale, contact Lorraine Vaughun a licenced real estate salesperson with RealEstateSINY.com at (718) 668-0423

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