As we can see, this week the mortgage rates are volatile. The 30-year fixed mortgage rate dropped again to a new record low of 3.97%. The 15-year fixed mortgage rate stayed the same as last week, at 3.20%. The 5-year adjustable mortgage rate increased to 3%.

As Europe continues to have trouble with their debt crisis, many people are investing more in the U.S. Treasury bonds. As demand for U.S. Treasury bonds increases, the yield of it decreases. On Tuesday, May 15th, the 10-year U.S. Treasury note yield dropped to 1.75%, which is the lowest it has been since October 2011. Mortgage rates tend to follow the same trend as U.S. Treasury bond yields, so if there continues to be demand for U.S. Treasury bonds, the mortgage rates will most likely stay low and around where they are now.

With rates the way they have been the past few weeks, the amount of mortgage applications being put in is increasing. According to the Mortgage Bankers Association, the amount of mortgage applications put in last week was 9.2% higher than the week before. Does this mean better results for home sales? The answer in short is, not really. The reason…of the mortgage applications being put in last week, 74.9% of them were refinance applications. However, the increase overall in volume should help housing a little bit. As for how much it will help, we’ll see in the next quarter.
 
Even though the United States economy is slightly improving, the first quarter numbers in several key economic indicators are weakening. The main indicator of concern is, the Job market has stalled and that has investors hedging their risks with treasuries. Consequently, mortgage rates follow suit with treasury yields on the decline.
 
Until the European debt crisis gets closer to being resolved (if ever) and the job market sees some robust growth, mortgage rates will most likely stay around where they are for now.

To Dream the Impossible Dream….it may not be impossible after all…

Connie and Anthony lived in Brooklyn their entire lives, born and breed….not bread, but if you are from Brooklyn you may argue that there is no better “Bread” than that which comes from Brooklyn. Anyway, back to Connie and Anthony….their adult children moved from Brooklyn to Staten Island. After constant badgering from their kids they made one of their biggest decisions they had in 75 years, they would cross the bridge and move to SI. The thought of making such a move at such an age was frankly overwhelming. Since I had sold their daughter a home a few years earlier and they were old neighbors of my own parents back in the good olds days, they called on my assistance.

I was all too happy to help them, I had known them my entire life. Connie and Anthony weren’t first time buyers, as they had been around the block a few times. They knew exactly what they wanted. We discussed neighborhoods, price range, style of home and getting their current home on the market. Considering their age they were only looking at ranches and the neighborhoods were limited so they could be close to their girls. How hard could this be?

We honed in on Great Kills, Oakwood, New Dorp and looked at several lovely homes on beautiful tree lined streets. We looked and we looked and we looked. They took their girls to see a few that they liked, they took friends to see other, they took the priest and the butcher and the baker and yet no house was just right. Days rolled into weeks, weeks rolled into months, seasons changed, holidays came and went, grandchildren were born and no house would do.

Believe me I knew it was going to be a challenge, they were really only moving to please their children. They loved their 3 family brick home in Brooklyn, they knew the neighbors, their doctors were there, and they’d miss their favorite diner, the beauty parlor, the church. How could they leave it all? I was patient with them and then I started to think, this is never going to happen. They had seen homes that hit all the marks….then, finally the words I had been waiting to hear….no, don’t get excited…It wasn’t what you think.

“Mary Ann we realized that the only home we really want is the one right across the street from Anthony’s niece, you know the blue- gray ranch home. We always drive by it and we know it would be perfect.” Ok great they found their house….wait, wait….you know there has to be a catch right…the house is not for sale, that’s right the house they want  may I repeat, is not for sale. The only house they will consider buying is not for sale. Well, like I always say, I love a challenge.

I went and paid Connie’s niece a visit to get the low down on the neighbor. She said a nice older couple lived there and she thinks she saw a few realtors go in and out of the house recently. Could I be this lucky?  I knew there was no time to waste and I bolted across the street, knock, knock….no it’s not the Avon Lady and you haven’t won Publishers Clearing House Sweepstakes. I introduced myself to the owners of the charming bluish-gray ranch on a lovely block in Oakwood. They kindly invited me into their very well kept home and I explained the entire story to them. I wasn’t looking to list their home, there was no need. I could do better, I would sell their home in less than zero days.

The timing could not have been more perfect, they too were motivated to move closer to their adult children. Beyond excited I called Connie and Anthony and had them come look at the house ASAP. It had it all and then some. After several laps around the house we stepped outside, with in moments I stepped back inside with an offer.  It was really happening, I was able to negotiate the entire deal within minutes. Both parties were elated.

 Timing is everything and the timing for this deal could not have been any more perfect. Connie and Bobby got their dream home, it wasn’t about the size of the master-bedroom that mattered, we had seen bigger and it wasn’t the kitchen counter tops that mattered, we had seen nicer. What mattered was that when they opened their front door, or peered through their living room drapes just across the street they had family. That was their dream and to be a part of making that dream come true was my utmost pleasure.

Mary Ann Demagistris
Licensed Real Estate Salesperson
RealEstateSINY.com

Contact me: 917-538-2423

Old world charm with modern amenities was just listed by Geralyn Liverani & Susan Frazier of RealEstateSINY.com

In the neighborhood of Tottenville, you will find a variety of house styles.  Prominent among these are Colonial-style houses, such as the house at 130 Craig Avenue, our latest listing.

Located on a quiet and wide street, this beautiful home is positioned on an oversized corner lot.  As you pull into the long driveway leading to the house’s garage, you will find yourself in what appears to be a country setting.  As you enter this beautiful house, you will find yourself torn between the living room and dining room, which both have gleaming wooden flooring.  To your left is the enormous living room, where you will find that bay window you had seen from outside.  To your right is the equally enormous dining room, which has two large windows and recessed lighting.  Between these two rooms is a staircase, which we will keep in mind for the latter part of our tour.  Continuing past the dining room is the recently

A modern kitchen is just one of a few upgrades on this home.

renovated kitchen which has a large center island, oak cabinets, and granite countertops.  The appliances included in the house are all stainless steel and include a refrigerator, a stove, and a dishwasher.  At the end of the kitchen is a mysterious door, but we will get to that after.  Past this door is a full bathroom, which is followed by a nice-sized bedroom.  This bedroom can be easily converted into an office or another room of your choice.  Now that you have finished your tour of the first floor’s rooms, you can go back to that door in the kitchen.  By walking through this door, you will exit out into the backyard of the house.  In this backyard, you will find a lovely covered patio with pavers.  Upon exiting the patio, you will find yourself on a well-maintained lawn, where you have a large shed.

See the complete listing for 130 Craig Ave.

Back in the house, you may now return to that staircase we saw at the beginning of our tour. 

The classic charm of this homes living room is unmistakable

As you ascend the steps, you will find yourself in a hallway with four doors.  On the western side of the house, you will find two large bedrooms which each have two windows, two closets, and wooden flooring.  To the right, at the far end of the house, you will find yet another full bathroom.  Wrapping back around to the main façade of the house, you will find the master bedroom.  The bedroom, like the others, has wooden flooring.  However, this room is larger and has two sets of windows and three closets.  From this floor, you have access to the attic, but it is mainly used for storage.  Back downstairs, you can now enter the

This Craig Ave. home features a robust, park like yard.

basement.  This full basement is unfinished, but has a door to the garage.

Just above the house is Arthur Kill Road, where you have access to the local s78 bus.  The bus can take you to points between the Bricktown Mall, which is in the neighborhood, and the St. George Ferry Terminal.  Above Arthur Kill Road, you also have the Staten Island Railway.  The house is between the Atlantic and Nassau train stations, but a planned station will soon replace the two and will be in the center, which will be even closer to the house.  Above the railway line is the Korean War Veterans Parkway and the Outerbridge Crossing.  All in all, transportation in the area is not sparse.

A number of schools are located in the surrounding neighborhoods.  The nearest public schools are P.S. 1, at 58 Summit Street; I.S. 34, at 528 Academy Avenue; and Tottenville High School, at 100 Luten Avenue.  The closest Catholic schools are the Our Lady Help of Christians School, at 23 Summit Street; the St. Joseph/St. Thomas School, at 50 Maguire Avenue; and St. Joseph by the Sea High School, at 5150 Hylan Boulevard.  Some of the private schools in the area are Gateway Academy, at 200 Boscome Avenue; the Staten Island Montessori School, at 500 Butler Boulevard; and Yeshiva of Staten Island, at 1870 Drumgoole Road East.  To find out which schools your child may be zoned for, you can contact your local public school.

For more information on this and other homes for sale in Tottenville contact Geralyn Liverani or Susan Frazier of RealEstateSINY.com at 718-668-0423

See the complete listing for 755 Bement Ave.

This just listed home sits atop of Sunset Hill and has unmistakeable charm.

The house itself was constructed in the Cape Cod style, having beautiful canvas awnings and one other feature quite common amongst Capes: this beautifully landscaped house may look small, but once you get inside, you will soon find that looks can indeed be deceiving.

As you enter the house, you will find two rooms just ahead: a nice-sized living room to the left and an eat-in-kitchen to the right.  The kitchen is already equipped with a marvelous stainless steel refrigerator, a stove, and a microwave. Past these rooms are two bedrooms, though one is currently being used as a dining room. Heading up the stairs, you will find two more bedrooms: the large master bedroom and a guest bedroom.  Heading back downstairs, you will find the staircase leading to the basement.  This full basement is huge, but is unfinished.
 
Being in such a desirable area like Sunset Hill, 755 Bement Avenue also brings you closer to a number of great recreational facilities. To the west, you will find the popular Clove Lakes Park. TO the east, you have the popular Silver Lake Golf Course.  Above the house, within walking distance, is the YMCA.  Further above the house is the Forest Avenue Business Improvement District, a commercial district which was created to keep the community clean and friendly, making foot traffic more appealing. It’s a cornucopia of small shops and eateries which is all within walking distance.
 
On Clove Road, you can find a bus stop for the local s53, which will take you to points between Port Richmond and Bay Ridge Brooklyn. The x14 express bus also passes by here and will take you into West Midtown Manhattan. Further down Clove Road, you will come to Victory Boulevard where you will find a handful of other buses waiting to take you to your destination. Making getting around that much easier, just below Victory Boulevard is the Staten Island Expressway.

In the vicinity, you will find a number of great schools for children to attend. The nearest public schools are P.S. 45, at 58 Lawrence Avenue; I.S. 27, at 11 Clove Lake Place; and the Michael J. Petrides School, at 715 Ocean Terrace. Some of the neighboring Catholic schools are Sacred Heart Elementary School, at 301 North Burgher Avenue; the St. Teresa School, at 1632 Victory Boulevard; and Notre Dame Academy High School, at 134 Howard Avenue.  There are also a few private schools, such as St. John’s Lutheran School, at 663 Manor Road, and the Miraj Islamic School, at 307 Victory Boulevard.

For more information on this home for sale, contact Lorraine Sinclair, a licensed sales associate with RealEstateSINY.com at (718) 668-0423

See the complete listing for 42 Redwood Lp.

As you enter the house, you will find yourself in a hallway with the garage door to your right. The family room is past here with the laundry area and a half bathroom. When you reach the next floor, you will find another half bathroom to your left with the living room and dining room combination to your right, which both have Pergo flooring. Past these rooms is the eat-in-kitchen, which has Pergo flooring and granite countertops, and is equipped with a refrigerator and microwave.  On the next floor, you will find two bedrooms which each have their own large closet. Next is the full bathroom, which is followed by the master bedroom with its two large closets. From this floor, you have pull-down access to a half-attic.

Getting around is not difficult for residents of this community. On Rossville Avenue, you have access to the local s74 bus, which travels to the St. George Ferry Terminal and the Bricktown Mall. You also have the x22 express bus, which travels into Midtown Manhattan. Above and to the west of the community, you will also find the West Shore Expressway, allowing you easy access to the Outerbridge Crossing and other points around Staten Island.

Many schools populate the surrounding neighborhoods. Some of the public schools in the area include P.S. 56, at 250 Kramer Avenue; I.S. 75, at 455 Huguenot Avenue; and Tottenville High School, at 100 Luten Avenue. The St. Joseph/St. Thomas School, at 50 Maguire Avenue; the Our Lady Star of the Sea School, at 5411 Amboy Road; and St. Joseph by the Sea High School, at 5150 Hylan Boulevard, are some of the Catholic schools in the area. As for the private schools, you have Gateway Academy, at 200 Boscombe Avenue; Eltingville Lutheran School, at 300 Genesee Avenue; and Yeshiva of Staten Island, at 1870 Drumgoole Road East. To find out which schools you child may be zoned for, you can contact your local public school.

Contact Kerry DeBellis, a licensed real estate salesperson at RealEstateSINY.com (718)668-0423

Mortgage rates have fallen to new record lows again this week, in all three mortgage programs. The 30-year fixed rate fell to 4.02%. The 15-year fixed rate fell to 3.20%. The 5-year adjustable rate fell to 2.99%. Mortgage rates have been on the decline over the past month. This is due to the United States’ economic status and the European debt crisis.
 
The United States’ economic growth situation has actually been slowing down lately. The unemployment rate was not where it was expected to be until recently. Along with the unemployment rate, the consumer spending is not where it was expected to be either. Consumer spending not being where it was expected shows that the economic growth is not moving at the speed the Fed would like.

The European debt crisis has moved from Greece to now Spain. Greece was keeping the mortgage rates down for a while until they avoided default on their loans. Spain is now in the forefront of the European debt crisis. Along with Spain, the European Central Bank is watching Ireland, Italy, and Portugal to make sure there is no other big debt crisis in these countries.

With the U.S. economy not recovering and the European debt crisis, people want a safe place to put their money. The United States Treasury bonds have been the safest place for investors lately. When people invest in U.S. Treasury bonds, the yields on those bonds fall since there is a high demand for them. This plays a role with the mortgage rates, since the mortgage rates tend to follow the U.S. Treasury yield rates. Mortgage rates will continue to follow the U.S. Treasury yields and with people wanting to invest in them, mortgage rates will most likely stay low for a while.

Amazing 20 foot wide condo in Rossville

When it comes to condominiums, the idea that they are small usually resonates with most potential buyers-not to mention dismissing the notion of owning a condo based on a variety of other factors like maintenance costs and such. While it might be true in certain instances, it’s surely not with our latest listing located on 35 Arrowood Dr.

See the complete listing for 35 Arrowood Dr.

 
First let’s start with the homes dimensions: it stands at 20 feet wide and 35 feet deep. Basically, that’s unparalleled by many semi-attached homes on Staten Island, which

There is plenty of room to move about in this homes living room/dining room combo

usually don’t exceed more than 18 feet wide–and even that stands on the larger side. So, if your emphasis is size, there is little in the way of accomplishing that in this particular condo. As a matter of fact, this unit happens to be an end unit, making it rare for both size and availability within the Woodbrooke Estates community.
 
Size alone isn’t just this home’s selling point; it’s an assortment of great factors that make the purchase of the home of particular value to its next homeowner.  The community itself provides an array of great features that are covered under the home’s maintenance cost. Let’s start with the Olympic sized pool, and never having to have the chore of maintaining your own pool. Part of owning that house includes having to foot the bill for electricity. If you haven’t owned a pool, it’s not fun picking up the blue colored envelope in the mail come July, August and September. Also, let’s not forget that the development also has a lifeguard assigned to the pool during the summer months.
 

Living Room of 35 Arrowood Ct.

The development also has a children’s playground, tennis courts, and provides the snow removal services during the winter months. Consequently, when you figure the costs of having to hire the associated services with a standard home, the cost for maintenance costs is rather nominal, which is approximately $250 a month.
 
Let’s look at the home itself: outside you will find that the current homeowner took a great amount of time keeping the landscaping manicured to near perfection.  The home, like I stated earlier, is an end unit.  So not only does it have a front yard, it also has a side and backyard. Speaking of, the back yard is as large as you’ll find in the development.  The condo’s backyard is accessible from sliding glass doors from the basement. The yard also has a paver patio next to the home, with the benefit of an almost new retractable awning.

Let’s look at what this home has from the point of entry, which is of course the front door. Upon entering, it brings you to the combination living/dining room. This is where the 20

Master Bedroom features private 3/4 bath.

foot wide end unit shows its prowess over other units within the condo development. First the space gives you the feel of a completely open layout. Even if you’re hosting a number of guests, the space won’t have you or your guests feeling cramped.  Not to forget mentioning the unit being an end unit, natural light is able to spill in from the home’s side window. It’s a feature that enhances the unit’s openness.
 
The home has received tens of thousands in upgrades.

Just off the dining room you will find the home’s completely renovated ½ bath. While we’re on the renovation of this bathroom, let’s look at some of the other major upgrades to the home.  The kitchen, which sits at the rear of the home, was completely renovated as well–newly outfitted with stainless steel appliances. The kitchen is more than large enough to have the whole family enjoy a meal. The home also has its other 2 bathrooms

A new kitchen is one of many upgrades this home has received.

getting a complete overall, all featuring a modern, yet classical design. The home’s main bath is located off the upstairs hallway. The other is the private bath which sits off the master bedroom.

The home’s bedrooms are immense when compared to anything in this condo’s price range on Staten Island’s South Shore. So large, in fact, it rivals or exceeds the size of rooms found in many detached homes. The home’s master bedroom is simply appropriate for anyone seeking some significant elbow room. It can easily accommodate a king-sized bed and its accompanying furnishings with ease. Like we mentioned earlier, it has its own private, completely renovated ¾ bathroom.  The room also has the luxury of having more than just ample closet space.
 
The home’s second bedroom might mask many homes in this price class as its master bedroom. Yes, big is the operative word here, as well. The room also has a good amount of closet space. As for the third bedroom, it’s appropriately sized, and would likely be comparable to many homes’ 2nd bedrooms.
 
On the last stop of this tour, we’ll head down to the home’s basement. Now remember: the home’s basement features sliding glass doors to the home’s rear yard. Consequently, that would be indicative of the fact that the basement sits at ground level. Well let’s sum that up with fact: the home’s basement is at ground level. The fully finished basement is a perfect recreational room for anyone at any age and the fact it has access to the backyard makes it all the better. It’s a fully open space and has additional natural light supplied by the side window, as well. The home’s mechanicals and immense laundry room also have their place in the basement.
 
If you’re in the market, and want a condo that may as well mask itself as a very large semi-attached home, all while having just about every living amenity part of the development….This home is not to be missed in this price segment.
 
For more information about this Rossville condo for sale contact the office of RealEstateSINY.com at (718) 668-0423.

Realty Check: By Mary Ann Benevento-Demagistris

Up in Smoke…

The exciting thing about working in Real Estate is that everyday is different. I work with a multitude of buyers and sellers and even a day at the office is always unlike the day before. One aspect of my job that I truly love the most is showing homes. It is sort of like going on a treasure hunt. My buyer has a list of all the features they hope to find hidden behind the front door of each home we enter. Sometimes we can complete the entire list, other times a home may fall short, sometimes there are surprising treasures awaiting and other times as the doors open to a home you just want to turn and run.

This past week I had the pleasure of working with an incredible couple from Brooklyn. They like many others are crossing the Bridge to be closer to their children. Well the great thing is their list of wants is quite attainable and realistic. They know their price range and the area the want to live in and the style of home they desire. So, the treasures to find on their list….only 3, a ranch home on a tree-lined street in a desirable neighborhood. Ok, I got this.

We set out last Wednesday to begin our hunt. Our plan was to see five homes. The first  home in South Beach was perfect, but they were concerned about the vacant land adjacent to it. The second was in New Dorp but, too small. The third was just right. Lovely block in Oakwood, all brick ranch, maintenance free exterior, three bedrooms, living room, dining room, oak floors, nice size yard. Not even the 1970’s yellow and brown bathroom scared them, or the fact that the kitchen was the original 1960s kitchen the builder had put in. Dated yes, but immaculate. The stainless steel Tappen wall oven/ broiler must be worth something, 52 years old and still glistening.

We still had two more to go, so even though they loved this home, we kept on going.
House #4, lovely block in Eltingville, same ranch style home, but they still liked #3 better. So, we set out for #5, the day so far has been a pleasure.
 
The front door opens and we are greeted by the Marlboro Man. Remember the Marlboro Man, a rugged, handsome cowboy with a chiseled chin and a cigarette dangling out of his mouth. He was iconic, men wanted to be him, women want to be with him and now here he stood before my buyers and I. But wait, this is not 1970 and we are not on a ranch in the middle of the Wild West. I get lost in his plume of smoke and think, am I dreaming.

The homeowner proceeded to show us the house with lit cigarette in hand. I am not getting on my soap box and preaching to you about why smoking is bad for you, you probably already know that. So, I will tell you this, we could not wait to get out of the house. I managed to notice some lovely original woodwork, but my buyers were so offended by the smoke being blown in their faces that we never got past the living room and dining room.  Such a shame, in this case smoking did kill, it killed any possibility of doing a deal with my well qualified, motivated buyers. Needless to say it made them love the lovely home in Oakwood even more.

Mary Ann Demagistris
Licensed Real Estate Salesperson
RealEstateSINY.com

Contact me: 917-538-2423