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Chief Blogger: Christopher Dente, Director of Public Relations | 212.685.7777 | cdente@citi-habitats.com
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July 2009
Exceptional Spaces
Posted by Christopher Dente | July 31, 2009
Exceptional opportunities in the sales and rental markets...exclusively from Citi Habitats
Morningside Heights
$4,900 / month
If you want spacious, sunlight, unique, views, location, ultra-modern updates, pre-war charm then you can't do better than this stunning apartment.
At the top of one of the most distinctive buildings in Morningside Heights, this one-of-a-kind, spectacularly updated apartment offers a grand entry hallway with a wall of closets and track lighting to illuminate your installation on the opposite wall. Glass doors open into spacious great room with its spectacular views of Morningside Park and St. John the Divine on the ridge above the park. There is a king-size bedroom AND a suite-size master bedroom with exposed brick and walk-in closet. The center-piece is an award-winning custom designed kitchen with top-of-the-line appliances -- including cleverly placed washer/dryer, ample workspace and granite counter tops, tile back splash and custom cupboards. The apartment is always awash in natural light from three directions via the 17 windows! A luxurious sanctuary AND the ultimate apartment for entertaining.
The building is situated at the entrance to Morningside Park and steps from Central Park. This is one of Manhattan's most special neighborhoods: convenient to Columbia University and the vibrant West Side, AND to the prime neighborhoods of the Harlem renaissance. Stroll to natural food groceries, a cornucopia of restaurants, a variety of entertainment, B,C,1,2,3 trains. Relax by the waterfall in the park, be a patron in the distinctive neighborhood shops. A quick train, bus or cab ride to everything special that NYC has to offer.
The apartment is offered unfurnished, or luxuriously furnished. This offers the opportunity for a New York City lifestyle like no other.
Citi Habitats web id 853778 | Contact: Michael Lockley
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Are Increasing Foreclosures Swallowing Modest Gains in Mortgage Repairs?
Posted by Christopher Dente | July 31, 2009
Are Increasing Foreclosures Swallowing Modest Gains in Mortgage Repairs?
RISMEDIA, July 30, 2009-As the Treasury Department urges mortgage servicing companies to step up their efforts to stop foreclosures, the latest available figures show that the number of households at risk of foreclosure is seven times the number of loan modifications, and the gap has increased steadily for the past year.
Although loan modifications are up from very low levels last year, the rapid growth of serious delinquencies and new foreclosure starts is swallowing modest gains in efforts by loan companies to fix the massive number of loans headed for foreclosure. During the first quarter of this year, nearly 500,000 loan modifications were completed, but foreclosure starts and serious delinquencies during that period edged up to nearly 3.5 million.
Read full article here.
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Despite Gains in Home Sales, Real Recovery Is Still Elusive
Posted by Christopher Dente | July 31, 2009
Despite Gains in Home Sales, Real Recovery Is Still Elusive
29 Jul 2009 | By: Albert Bozzo
(CNBC) Federal initiatives to stimulate the housing market have created a shallow and narrow recovery, making it likely that Congressional proponents of an expanded homebuyer incentive program will make another push to make it law following the August recess.
The existing homebuyer program and an even larger one to contend with a tsunami of home foreclosures, as well as federal efforts to nudge down mortgage rates, appear insufficient to tip the scale in favor of a broad housing market.
Read full article here.
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Looking for a Housing Recovery
Posted by Christopher Dente | July 31, 2009
Looking for a Housing Recovery
By Casey B. Mulligan | July 29, 2009
(New York Times) Recent reports have shown that housing starts, new home sales and some measures of housing prices have not only stopped their decline, but have improved. Does that mean that the housing recovery has begun? Tuesday’s release of the Case-Shiller housing price index may confirm that it has.
The housing crash is the single most important factor that started this recession, so it would be nice to know when it will end.
Read full article here.
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Purchase Applications Hold Steady, Refinance Applications Fall in Latest MBA Weekly Survey
Posted by Christopher Dente | July 31, 2009
Purchase Applications Hold Steady, Refinance Applications Fall in Latest MBA Weekly Survey
WASHINGTON, D.C. (July 29, 2009) — The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending July 24, 2009. The Market Composite Index, a measure of mortgage loan application volume, was 495.4, a decrease of 6.3 percent on a seasonally adjusted basis from 528.9 one week earlier. On an unadjusted basis, the Index decreased 6.0 percent compared with the previous week and increased 16.1 percent compared with the same week one year earlier.
Read full release here.
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