Met Unveils Fresh New “Carmen,” Starring Garana & Alagna
By Bruce-Michael Gelbert
For the second time this season, the Metropolitan Opera has replaced a large-scale Franco Zeffirelli production of a repertory standard with a lower-key restudied version. The Luc Bondi-Richard Peduzzi “Tosca,” which opened the season and weds gratuitous sensationalism to drab trappings, has been justly condemned as an unworthy successor to Zeffirellli’s monumental “Tosca.” The new “Carmen,” which succeeds Zeffirelli’s busy one, makes for a much more satisfying reconsideration, save for one grievous miscalculation at the climax, than the Read more
FHA To Toughen Down Payment Rules
The Federal Housing Administration will raise the minimum down payment for its least credit-worthy borrowers, agency announced Tuesday.
Borrowers with credit-rating scores below 580 will be required to put down at least 10 percent. Those with a credit score above 580 will be able to continue to put down only 3.5 percent. The changes are intended to shore up the agency’s finances.
The FHA also will increase its upfront mortgage insurance premium from 1.75 percent to 2.25 percent. The agency is expected to seek congressional approval to raise annual mortgage insurance premiums, paid by borrowers over the life of the loan, above the current 0.55 percent maximum. The amount it will seek has yet been announced.
Source: Reuters News, Corbett B. Daly
Tax Credit Ends April 30th; 6 Key Facts You Need To Know
In order to qualify for the tax credit which applies to a principal residence, you have little time left. The deadline is set for April 30th, and to qualify you have to buy your new home by that date and you must close on the deal by June 30th of 2010.
1. For the most part, homebuyers can’t use the tax credit as an automatic down payment on a new property. Sometimes, in some cases, it can be used for a down payment or to pay for closing costs provided that the loan is handled through the FHA.
2. You receive the tax credit when you file your taxes, you don’t get a check when closing, as is assumed by many homebuyers.
3. The reality is that the top tax credit for homes purchases is $8,000 and you don’t always get the full credit. If you Read more
New York City 4th Quarter 2009 Sales Report
The number of sales increased over the prior year quarter as inventory fell
There were 2,473 sales in the current quarter, up 8.4% from the 2,282 sales in the prior year quarter and up 10.9% from the prior quarter. This level of activity was more than twice the 1,195 sales seen in the first quarter of 2009, which had been lowest level of sales in nearly 15 years. The return to more normal historical levels of sales activity was also reflected in the decline in inventory levels. There were 6,851 active listings at the end of the quarter, a 24.6% decline from 9,081 listings in the same period a year ago, but down 18.3% from 8,389 listings in the prior quarter. The seasonal average decline in the number of listings from the third quarter to fourth quarter over the last decade with the exception of 2008 was -3.4%. Therefore the 18.3% decline in listings was considered atypical. Excess inventory was worked off by the Read more
Real Estate Headline News
:: News Hub: Bonuses Fuel Apartment Sales (MarketWatch.com)
:: Rates on fixed-rate mortgages drop (MarketWatch.com)
:: Where Americans Pay Most In Property Taxes (Forbes)
:: Skinny House Goes For Fat Wad (AOL Housing Watch)
:: HUD acts to speed foreclosed properties resales (Reuters)
New Times for Manhattan Real Estate, New Promises for 2010
As we continue through the winter months, and look forward to better spring and summer days, the real estate climate appears to be very favorable for 2010. New York City real estate seems to show strong sings of recovery for the rest of year. Prudential Douglas Elliman’ 4th Qtr. report (prepared by Miller Samuel) shows strong signs of stabilization. The fourth quarter showed increases in sales activity, inventory declined, fewer price cuts, and prices seemed to be more stable.
Several factors contributed to this effect including the improvement of the overall economy, slow but Read more
Extraordinary Oceanfront Fire Island Pines Monthly Rental, 4 Bedrooms With A Large Poll
PRICE: $38,000 per month (plus utilities)
STYLE: ULTRA CONTEMPORARY
BEDROOMS: 4; BATHROOMS: 4
LARGE POOL; UNOBSTRUCTED OCEAN VIEWS
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DESCRIPTION: Architectural oceanfront gem with magnificent ocean views, 4 large bedrooms with their own deck and full bath. A massive front deck with immense and atmospheric details holds a heated pool and hot tub on the ocean side of the property. The back of the house maintains a quiet garden deck and Read more
Beautiful & Large Summer Home on Ocean Beach, Approx. 200 ft. to the Atlantic Ocean
PRICE: $1,750,000 - TAXES (month - approx.) $1,000
STYLE: CLASSIC CONTEMPORARY
ROOMS: 10
BEDROOMS: 5; BATHROOMS: 3
LOT SIZE: 75′ x 100′
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DESCRIPTION: Grand contemporary 5 bedroom 3 bath located approx 200ft to beach. Recent renovation, with great attention to detail obvious throughout home. The home was designed with large open spaces, excellent use of property characteristics, and fully manicured inside and out. High-end finish chef’s Read more
Malibu on Fire Island, Large Contemporary Home on Cherry Grove Available at $2,200,000
PRICE: $2,200,000 - TAXES (month - approx.) $633
STYLE: CONTEMPORARY BUNGALOW
ROOMS: 9
BEDROOMS: 5; BATHROOMS: 4.5
LARGE DECKS, UNOBSTRUCTED VIEWS, ROOF DECK
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DESCRIPTION: Incredible contemporary, large home, approx. 50 ft. from the beach. 5 Bedrooms, 4.5 Bathrooms, loft style living and dining room (sunken living area with wet bar and wood burning fireplace), and a full circular island gourmet kitchen. Ceiling heights range from 9 to 16 feet in volume height. Read more
Amazing Contemporary Fire Island Pines Home on the Great South Bay, Monthly Rental $32,000
PRICE: $32,000 - per month
STYLE: Bayfront Contemporary
BEDROOMS: 3; BATHROOMS: 3
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DESCRIPTION: Beautiful bayfront property - 3 bedroom 3 bathroom with exceptional bearing on the water’s edge. Large loft living area, floor to ceiling windows, open floorplan living dining kitchen area. Secluded pool area, with great privacy. Read more
The Wall Street Journal- The New York Times
- Matrix
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