CITY/TOWN
SINGLE FAMILY
MULTI FAMILY
CONDOMINIUM
CO-OPERATIVE
FOR RENT
Amawalk
Multi Family
Condo
Co-Op
For Rent
Ardsley
Condo
Armonk
Multi Family
Co-Op
Bedford
Multi Family
Condo
Co-Op
Bedford Hills
Co-Op
Briarcliff Manor
Bronxville
Buchanan
Condo
Chappaqua
Co-op
Cortlandt Manor
Crompond
Condo
Co-op
Croton Falls
Condo
Co-Op
Croton On Hudson
Cross River
Multi Family
Co-Op
Dobbs Ferry
Eastchester
Elmsford
Goldens Bridge
Multi Family
Condo
Garnite Springs
Multi Family
Condo
Co-Op
For Rent
Harrison
Hartsdale
Hastings On Hudson
Hawthorne
Multi Family
Condo
Co-Op
For Rent
Irvington
Jefferson Valley
Multi Family
Condo
Co-Op
Katonah
Condo
Co-Op
Lake Peekskill
Condo
Co-Op
For Rent
Larchmont
Lincolndale
Multi Family
Condo
Co-Op
For Rent
Mamaroneck
Millwood
Co-Op
Mohegan Lake
Montrose
Co-Op
Mount Kisco
Mount Vernon
New Rochelle
North Salem
Multi Family
Co-Op
Ossining
Peekskill
Pelham
Pleasantville
Port Chester
Pound Ridge
Multi Family
Condo
Co-Op
Purchase
Multi Family
Condo
Co-Op
Purdys
Multi Family
Condo
Co-Op
Rye
Rye Brook
Co-Op
Scarsdale
Shenorock
Multi Family
Condo
Co-Op
Shrub Oak
Multi Family
Co-Op
Sleepy Hollow
Co-Op
Somers
Co-Op
South Salem
Multi Family
Co-Op
Tarrytown
Thornwood
Condo
Co-Op
Tuckahoe
Valhalla
Condo
Co-Op
Verplanck
Condo
Co-Op
Waccabuc
Multi Family
Condo
Co-Op
West Harrison
White Plains
Yonkers
Yorktown
BEDROOMS
1 | 2 | 3 | 4 | 5 | 6 | 7 | 8+
Studio | 1 | 2 | 3 | 4
Studio | 1 | 2 | 3 | 4+
Studio | 1 | 2 | 3 | 4+

Obama Seeks to Jump-Start Housing

President Barack Obama said in a speech Thursday that mortgages need to be more accessible and affordable to creditworthy families to spur a stronger housing market. He said lowering Federal Housing Administration mortgage insurance premiums is one way to achieve that, potentially paving the way for hundreds of thousands of new home buyers to enter the real estate market.

“I want to talk about helping more families afford their piece of the American dream, and that is owning their own home,” Obama said in a speech during a visit to Phoenix on Thursday as part of a weeklong tour across country focused on the economic recovery. “Buying a home’s always been about more than owning a roof and four walls. It’s about investing in savings and building a family and planting roots in a community.”

Obama announced that FHA mortgage insurance premiums will be lowered by half a percentage point, moving from 1.35 percent currently to 0.85 percent. The lower costs are expected to save borrowers an average of $900 annually.

The FHA is a major funder of mortgages for first-time home buyers, as well as lower- and middle-income Americans, due to its low downpayment requirements of 3.5 percent of the purchase price.

The National Association of REALTORS® estimates that a reduction in FHA premiums has the potential to bring in 90,000 to 140,000 additional annual home purchases.

“By bringing our premiums down, we’re helping folks lift themselves up so they can open new doors of opportunity and strengthen their financial futures,” Julian Castro, Housing and Urban Development secretary, said in a statement.

Obama said in his speech Thursday that a recovering housing market was an important sign the economy was strengthening. Phoenix was one of the hardest hit cities during the housing crisis, in which home prices plunged and foreclosures skyrocketed. The metro area is now regaining its footing several years later.

“I came here to lay out plans to get responsible home owners back on their feet,” Obama said in his speech.

The FHA's move comes after several calls from associations and industry trade groups – including NAR – as well as members of Congress urged the agency to lower its insurance premiums, which were increasingly being blamed for sidelining thousands of would-be buyers.

"We are optimistic that more affordable FHA loans will have a positive impact on first-time buyers who have been entering the market at a lower-than-normal rate," NAR President Chris Polychron said in a statement. "NAR is a strong supporter of the FHA and its vital role in the mortgage marketplace for home buyers. We will continue our work with the administration to help make the dream of home ownership a reality for millions more Americans."

Source: U.S. News & World Report | Westchester County Real Estate Listings