Archive for the ‘Real Estate’ Category

Manhattan Traffic Jams A Permanent Fixture

Wednesday, March 24th, 2010

Source: New York Times

In Manhattan, Wednesday is typically one of the busiest days of the week to try to drive across town.

Pretty much all of November is a slog, too. And when the United Nations is in session in September? Forget it.

Rainfall, parades and motorcades — they all have their effect on traffic. And when calamity and Wednesdays collide, watch out: July 29, a Wednesday, was among the 25 worst traffic days last year.

It happened to include a torrential downpour — not to mention a visit from Janet Napolitano, the secretary of homeland security, who crisscrossed Manhattan on a tour of the city, entourage in tow.

Traffic in Manhattan has a rhythm all its own, and, according to a new study by the city, it is not quite the constant gridlock that it seems.

Using data from the GPS devices in all New York City cabs, officials tracked the routes of tens of millions of taxi trips over the past two years. The result: a database of speeds and travel routes that can be broken down by minute, month and neighborhood.

“It’s like an M.R.I.,” said Bruce Schaller, a deputy transportation commissioner who supervised the city’s study.

For traffic planners, the data provides an entirely new resource for targeting their tweaks to the streetscape. Officials are already using the information to help improve traffic patterns along 34th Street.

But the trip data also offers a glimpse of the desires and frustrations of New Yorkers moving around their metropolis: where they want to go and the obstacles in their way.

To create a day-by-day look at the city’s traffic, officials crunched GPS information from nearly every yellow taxi trip taken in Manhattan’s business district — from 60th Street to the Battery — between November 2008 and October 2009.

In that 12-month period, weekday traffic in the district moved at an average of 9.5 miles per hour — about the speed of a farmyard chicken at full gallop.

Thursday, Nov. 13 was the slowest weekday of the year studied, with an average speed of 7.5 m.p.h. — about the speed of the typical jogger in Central Park. Excluding holidays, the fastest weekday: Monday, Sept. 28, at a speed of 11.7 m.p.h.

The four fastest days to drive in Manhattan, in order of average speed: New Year’s Day, Christmas, Memorial Day and July 4. (Thanksgiving Day? Hindered, presumably, by the Macy’s parade.)

On weekdays, speeds predictably peak between 5 and 6 in the morning (at a jaunty 16 m.p.h.), then decline sharply in the morning rush.

Not so predictably, speeds then stay low all day, even midday when commuters are at work. Traffic barely improves until the evening rush wanes about 7 p.m., hovering around 9 m.p.h. for much of the day.

Officials blame the midday congestion on a high level of commercial deliveries, which can clog side streets and stop up intersections. The data has helped officials as they consider raising daytime street parking rates to ease traffic tangles in Midtown.

What about the buses? Clearly one of the primary congestion contributors are buses. Residents complain about them blocking streets and intersections and turning an otherwise straight shot of a route into a commuters’ nightmare. With all the best bus driving lessons in the world, the drivers still can’t help the fact that they what they are driving is big, slow and makes sudden turns and stops. In Brooklyn, where traffic isn’t much better, you might find yourself needing a Brooklyn slip and fall lawyer to protect yourself from the threat of accidents you can incur when traveling by foot. If you’re a Long Island city car accidents lawyer, the traffic congestion across much of the state must be keeping you busy. There’s an estimated fender bender happing just about every 40-60 seconds somewhere in the city.

Traffic in most major cities, Mr. Schaller said, returns to normal between the morning and evening rush. But Manhattan’s business district is far bigger and more dense than most. “Walk around downtown San Francisco at 11 o’clock in the morning and there’s not much going on,” Mr. Schaller said. “You go to SoHo, and it’s really busy.”

A sweeping thunderstorm rolled through the city on Aug. 19, also among the slowest 25 traffic days in the study period, knocking down trees and generating some of the worst storm damage in decades. On June 18, another congested summer weekday, more than an inch of rain fell.

In previous eras, city planners had to rely on arbitrary test runs and data from the city’s tunnels and bridges to measure traffic. Now, the taxi GPS machines put a vast amount of previously unavailable information at planners’ fingertips. “We’ve known what goes on along the edge of Manhattan, but we’ve never known what’s inside the beast,” said Janette Sadik-Khan, the transportation commissioner.

According to the data, cars are starting to move faster, partially because of New Yorkers’ greater reliance on mass transit and a drop in traffic caused by the recession. From the fall of 2007 to last autumn, cars moved about 13 percent faster on weekdays. In the same period, the number of cars driving into Midtown from north of 60th Street fell to its lowest level in nearly 20 years, a trend that officials attributed to increased mass transit ridership.

On a typical Tuesday night, about 13,000 cabs travel south from the Upper East Side to a destination between 14th Street and Canal Street; on Saturdays, about three times as many cabs (38,000 on average) make the trip.

Small changes in speeds also seem to have an outsize psychological impact on impatient New Yorkers. On weekdays, when few people expect a trip to go quickly, speeds in east Midtown average about 6.3 m.p.h. in the daytime. On Saturdays, the average speed is about 8.5 m.p.h. — not an enormous difference, even though drivers report feeling more comfortable on weekends.

Despite the line at the Macy’s returns counter, January clocked in as the least-congested month of the year. November, hindered by the frenzy of Thanksgiving and holiday shopping, was the most congested.

And, as any political observer will tell you, diplomats really bring things to a standstill. United Nations General Assembly week, in late September, accounted for four straight weekdays when Manhattan traffic turned to sludge.

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My Take: I know New Yorkers have a huge traffic problem, but one thing they have going for them is great public transportation. You might need three hours to drive five miles, but as an option, you’ve got the subway system which, for many, provides an efficient way to get to and from work each day.

Having a car in Manhattan seems to be a luxury for those who can afford to pay for a monthly parking pass to keep their cars save from the lock picking and theft that are a part of city life. Car thieves have some pretty sophisticated car opening tools to rely upon these days and can literally swipe your car in the time it takes you to pop inside a store and pick up those bridal shower invitations.

By the way, if you are planning a bridal shower and want to create something really special for the bride to be, there are many online options for crafting your own custom invitations. Many of them will allow you to submit photos, video and other media to use as part of the online design process, and what you come up with will far surpass any engraved invites you might pay a fortune for at a fancy stationary shop. What’s more, these custom invites are virtual: they won’t get tossed in the trash a week later, but rather can be stored online for anyone to see, anywhere in the world, for as long as you like.

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and Additional Fees

It’s important to consider some additional fees that might come into play when you choose to find vacation home rentals for your next travel or holiday. Occasionally a home owner may bill charges such as a cleaning service to the overall cost of the rental and it’s vital to determine whether those charges are included in the overall price or whether you may be charged extra for the services. Maintaining proper communication and contact information with your temporary landlord will ensure you are able to initiate contact when needed before, during, and after your stay.

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Refinancing a Home Mortgage Loan

Friday, May 8th, 2009

Have you reached that point where your home mortgage is bringing you down? Then it may be time to get KY refinancing. It only makes sense to refinance because you can lower your interest rate and your monthly payment.

All you are really doing is taking that Louisville Kentucky mortgage and getting a new one that will pay off the existing loan. Be careful, you do not want the new loan to cost you more in interest or monthly payments so do your research carefully.

Many of the terms you will come across in refinancing are the same. If you do not recognize one, find out its definition! Some of the terms you will come across in your research are:

Loan to Value Ratio: This is usually up to 80% of the value of your home that you are borrowing against. Higher than 80% and you may be required to purchase mortgage insurance to refinance.

Points: Everybody has heard about points when it comes to real estate. However, there are two different types of points you can pay. There are discount points, paid upfront at closing and origin points or fees paid to the loan representative for services rendered. Discount points would usually lower your interest rate.

Fixed Rate Mortgage: The interest rate does not change for the life of the loan in this mortgage. The rate is fixed at closing time and will not change.

Adjustable Rate Mortgage (ARM): This mortgage has interest rate that will fluctuate up or down depending on the prime rate or treasury index that it is connected to. You do not want this type of mortgage! If the interest rates happened to go up, so does your monthly payment.

Annual Percentage Rate (APR): This is different from the fixed or adjustable rate. This number is based on the costs associated with the mortgage and is shown as an interest rate. It will vary from one lender to another because they each calculated it differently. Ask for the “Good Faith Estimate” that all lenders are required to provide.

Good Faith Estimate: This is a list of all the estimated costs connected with your loan. This should be provided to you within three days of filling out a loan application. All mortgage lenders are required by law to provide it to all applicants.

Term Length: This is the length of your loan in years. The majority of loans are 15-30 years in length. The longer the term the more you will pay in interest.

The mortgage rates Louisville are at an all-time low right now. That means that if your goal is to free up money for other uses, refinancing may be the best option for your mortgage. It can give you the money that you need and lower your monthly mortgage payment.

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The Houston Locksmith

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Virginia Roofing Repairs Eliminates Black Mold

Black mold might seem like just an eye sore, but the fact of the matter is that you might need to invest in roof replacement or even rebuild your entire home if you do not prevent this problem or take care of it immediately when it first occurs. Black mold is more than just an inconvenience or an aesthetic problem; it can actually make people very sick. This is why you should call your trusted VA roof repair contractor as soon as you see any signs that the roof is leaking. When roof leaks are allowed to continue unchecked, the moisture can promote the growth of black mold spores.


Bankers See a Bleak Future

Friday, May 8th, 2009

Loan officers stated earlier this year that credit cards and commercial real estate are not going to be the only problems. This means that, among additional losses, real estate notes will be one of the additional losses for banks this year according to the Federal Reserve. This is just another result of the painful recession that we are in.

In a survey of domestic lenders, they warned that there would be even more losses into portfolios such as credit cards, nontraditional mortgages and commercial real estate. The nation’s 19 largest financial institutions have been going through what is called “stress tests” and this report will be out soon. However, this does not make it look any better with the threat of rising loan losses for banks

In fact, some banks like Citigroup, Wells Fargo and Bank of America may need additional capital as a result of these “stress tests”. These financial institutions have been trying to minimize their losses by tightening standards on credit cards in the first quarter.

The demand for prime mortgages did surge, as the lending standards on prime mortgages remained elevated. This means that when you sell real estate notes you might get the price you want. On the other hand, if you buy real estate notes you may have to pay a little bit more.

If you use cash flow notes as an investment, it may be a good idea to hang onto them for a while to see if the market is going to stabilize a little bit more.


Get a Loan Workout and Get Your House Back

Tuesday, April 21st, 2009

Nobody wants to lose his or her home! Unfortunately, in these rough economic times we know this as a fact for most people. People tend to take their Palisades real estate mortgage for granted and end up losing the home. This is what brings on the foreclosure process. It will usually begin after 3-4 payments have been missed and the lender will issue a foreclosure by selling the house or processing it. What makes the situation worse is that lenders have a tendency to make their borrowers believe they have no other options available. However, there are alternatives that homeowners can use to keep their home!

These are terms heard in connection with the normal terms used in a Nyack NY real estate mortgage agreement. That means that most homeowners do not know about them. Here is a list of some terms and their meanings that will, hopefully, help you get your home back.

Shortstop is a short refinance for the foreclosure of your property. The alternative is to ask a friend to help you buy or pay off the mortgage.

Negotiating a payment scheme is where you would pay a portion of the amount and agree to pay the rest in the following months. You do have to show proof of your income and make a down payment. Most lenders will agree to this plan

Change of plans is a temporary change in the terms of your home loan when it is properly negotiated. Those changes can include amortization extensions and even a reduction of the interest rate. With this option it is best to get a foreclosure negotiator to handle the job and get it approved.

Third-party sale is simply that. The property is sold to a third party and the proceeds go to the mortgage lender in settlement of the loan.

Friendly third-party sale is when the third party simply purchases the party to clear the deed of other holders and immediately sold right back to the borrower.

These are just a few of the alternatives that Hudson Valley home owners have available to them. Of course, the best way to avoid foreclosure is to make sure you make your payments. If you are in fear of foreclosure, check out the MHA program that President Obama has put into motion. If you purchased your home before January of 2009, you may be eligible to participate in the program.

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Title Insurance, the 7 Risks and 7 Cautions

Tuesday, April 21st, 2009

The purchase of residential property usually involves purchasing 2 separate policies of title insurance. One is for the buyer and the other is for the seller. The seller is the insured party and the buyer is the interested party. The seller usually provides and pays for both. This helps to ensure the buyer that the property does indeed belong to the seller and that it has no unexpected liens or problems. It is also a requirement of many lenders that the buyer purchase title insurance on the lender’s behalf for the loan and sometimes the entire sale price.

Title insurance is also a onetime investment. The policy will stay in force until you sell or refinance the property. The premium is usually based on the amount of risk assumed by the insurer. The real estate networking group for women that your agent is a part of will keep her informed about these policies.

When you are purchasing property, it can be put at risk in a variety of ways. If it does not have a clear title, this may be because documents could have been executed several years ago that did not surface until much later. This is why you need to have title insurance.

Here are 7 items that can put your property risk:

  1. Forged deeds, mortgages, satisfactions or releases
  2. Deed by person who is insane or mentally incompetent
  3. Deed by someone who is under age
  4. Deed from a corporation, unauthorized under corporate bylaw
  5. Deed by partnership, unauthorized under partnership agreement
  6. Deed given under fraud or duress
  7. Deed executed under falsified power of attorney

Here are 7 things to watch out for:

Read your preliminary title report and if necessary, take action if any of the items below appear on that report. If they do appear, contact your title company immediately. If you do not , act fast you may cause a delay in the closing of escrow or even decrease your profits.

  1. Tax Liens
  2. Mechanics Liens
  3. Notice of Action or Judgments (may include back child support)
  4. Bankruptcies
  5. Uninsured Deeds
  6. Legal Access to and from the subject property
  7. Typos in the legal description and/or parties’ names

Women in real estate can benefit from having a relationship with a title representative whose sole purpose is to sell title policies on behalf of a title insurance company. You should find out what that representative is willing to do to earn your business. Ask the following questions:

  • Are they willing to give you access to their public record database?
  • Can you request and receive copies of recorded documents?
  • Are they willing to create property profiles for hot deals?
  • Are they willing to set up a farm or territory to help generate leads?

A good title insurance company can help you conduct business efficiently. Every agent must know the complexities and specifics of title insurance as well as the benefits that it gives.

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Why a Custom Bathroom Vanity is the Better Choice?

Tuesday, April 14th, 2009

Well, if you look at it from a financial point of view it will give you an even better resale value on your home. Otherwise, it will give you what you want in your bathroom. Anyway, a custom bathroom vanity can be just right for your remodeling project.

If your remodeling project is to get a better price on your home, you need to keep in mind that buyers are eager to buy a home that has custom cabinetry in the kitchen or bathroom because it is unique. Buyers are looking to have something different in a house because of all the mass-produced neighborhoods. It would be very unusual for you not to get a good ROI when you sell your home.

One of the many things that make custom cabinetry and vanities appealing is the workmanship that is involved as well as artistry. With higher quality materials, custom bathroom vanities will hold up much longer under the normal wear and tear of any family.

Above all other things, your personal enjoyment is the best reason for investing in bath cabinets or custom bathroom vanities. The bathroom is the first place you go in the morning and the last in the evening. It is a place that you want to be able to relax and get away from the hustle and bustle of the day.

Just remember, the vanity does not have to include a sink, it can only have just a countertop where you put all of your toiletries. You may have a vessel sink sitting right next to that custom vanity. As long as you have met all your requirements for functionality and it works better than the old vanity, then it is the right one for you.

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Dining Chairs

Dining room shares are offered in a wide selection of beech and ash dining room chairs. Beech and ash are very hard woods and are the perfect candidates for stained and painted finishes. The rule of thumb when it comes to buying dining room chairs is to buy a good quality product. Inexpensive chairs will, more likely than not, need to be replaced within a short period of time and match the rest of your rustic furniture. One company has dozens of dining room chairs and farm tables to choose from. If you don’t find it on their web site they have multiple domestic resources and will try to track it down for you.


Financing For Women-Owned Businesses

Monday, February 2nd, 2009


Are you a woman and thinking of starting your own business?  Do you have a business but need financing for new equipment or expansion?

There is no shortage of help available, despite the state of the economy.  Yes, it’s true: lenders are tightening their grip on their wallets and making it difficult for many women to obtain funding.  This holds especially true for women in real estate, thanks to the faltering mortgage lending sector that has resulted in what is shaping up to be one of the worst recessions in history.  But as is the case with other industry sectors, finding a real estate networking group for women.

Here’s a short list of a few popular online resources to help you get connected with other women and locate valuable resources to assist you with your business plans:

NAWBO.org -National Association of Women Business Owners
Minorityfinance.com http://www.minorityfinance.com/
Small Business Association
http://www.sba.gov/services/financialassistance/index.html
Grantwoman.com
http://www.homebizwomen.com/grant-woman.html
SCORE/Counselors to America’s Small Business
http://womensblog.score.org/about/

Don’t forget, there are also plenty of online sites devoted to networking for women, where you also can talk to other business owners about the steps they took to get financing, the roadblocks they faced, and how they over came them.


Tips For Property Owners Who Rent Out Their Homes

Sunday, February 1st, 2009

If you are like a lot of American homeowners who, in the wake of the down market last year decided to give up on selling your home and instead put it on the rental market, you’ve probably got a lot of questions about what might be legally expected of you as a landlord.

You’ll likely be doing a host of new chores as a land lord, from collecting rents, making repairs, vetting prospective tenants, and sometimes dealing with the nasty aspects of eviction and property damage.

If you’re in Minnesota, you may want to enlist the services of one of the most reputable property management companies in your area, one that, for a fee, will handle many of these aspects of renting out a home for you, including providing a thorough MN tenant screening process to make sure your home is occupied by folks you can trust to pay the rent on time and take care of the home as if it were their very own.

You can expect to pay between five percent and six percent of the gross income from the property to these service providers, but the fees often quickly pay for themselves over time and often include a support system of reputable contractors, maintenance crews and other vendors who can keep your home in tip-top shape.


Atlanta Real Estate Forum Announces Signature Home

Sunday, February 1st, 2009

Points North, the monthly publication put out by Atlanta Real Estate Forum, which showcases North Georgia real estate and Georgia National Forest real estate classic homes, estates, lifestyle issues, and properties for sale, recently announced the opening of the first magazine’s first “Signature Home,” a charitable residence open to the public to raise funds for needy causes.

, located in a housing community nestled in Dahlonega, Georgia, is a sweeping  4,500 square foot masterpiece created by Linger Longer Homes.  In addition to its proximity to some of the finest North Georgia property on the market, it also showcases a stupendous view of the Appalachian peaks.

The interior features include 10-foot, barrel vaulted ceilings, four bedrooms, three and a half baths, a gourmet-level kitchen; wine cellar and tasting room; and a two-story, stone fire place.

Achasta is now open for tours at $5 per person or $10 a car, and all proceeds go to Community Helping Place in Dahlonega., which serves Lumpkin County, Georgia families and individuals in need with food pantries, free medical clinics,  emergency financial assistance (for rent, utilities, etc.,) and referral support services.


Using A Realtor

Sunday, February 1st, 2009

The residential real estate market has certainly seen its share ups and downs over the last four years and, while there are some signs of a return to normal regarding pricing, there are simply no guarantees what the financing side of he industry will look like, once the great shake down has finally wound to a halt.

Whether you’re looking at Nyack, N.Y.  real estate for investment purposes or for your very first home, there are numerous reasons for why,  in today’s market, you really should rely upon the skills and experience of a  Realtor®.

There are many reasons for working with a Realtor® in today’s market.

For one, a Realtor®’s job is to help you understand and complete the often more than dozens of disclosure forms involved in every residential real estate transactions, whether you’re buying Piermont real estate on the east coast of the country, looking at Rockland County waterfront homes, or hoping to invest in homes in the southwest.

As members of their local, state and national trade associations, Realtor® can tap into the latest technologies serving the housing industry today.

Buying or selling a home calls for solid negotiating power.  A Realtor® can assist with the critical negotiations included in every real estate transaction, helping both buyers and sellers sort out the often complicated and sometimes costly details that comprise a final .

Your Realtor® also can help you determine what, if any repairs you may be responsible for, if requested by the buyer, and negotiate deadlines for their completion.

Your Realtor® can guide you through the coordination of the home-inspection process, and help to ensure that the seller’s responsibilities for addressing a buyer’s requirements are met, and help you with coordinating a final property walk-through.