Daily Archives: January 5, 2011

Public Hearing For New Katonah-Lewisboro Teacher’s Contract | Katonah NY Real Estate

LEWISBORO — The Katonah-Lewisboro District Teachers’ Association has ratified an agreement on a new two-year contract with the school district to replace the contract expiring at the end of the current school year.

The school board will hold a public forum on the agreement on Jan. 6 before voting on whether to approve it on Jan. 13. The agreement covers the 2011-12 and 2012-13 school years and includes very low raises for teachers.

Board of Education President Michael Gordon said the board’s goal has been to reach a fiscally responsible budget that preserves programming.

“Since so much of our budget is devoted to personnel expenses, obviously what we pay to our teachers and provide them in benefits is a significant issue,” he said.

In the first year the contract agreement calls for a 1 percent raise that is deferred to Feb. 1, 2012. Salary adjustments for education credits are also deferred until February. Teachers will also take a half-day furlough when school is not in regular session. The union will contribute to the cost of a $10,000 retirement incentive.

In the second year, a 1 percent salary increase will take effect at the beginning of the school year and another 1 percent increase on Feb. 1. Teachers will have to take a one-day furlough and contribute 13 percent to health insurance premiums, up from 11 percent.

LoHud Article

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Armonk NY Real Estate Report | RobReportBlog | January 2011

Armonk NY real estate was UP 34% in 2010 compared to 2009. Very good news. The Armonk NY median price dropped 6.37% to $955,000. Sellers understand there is a lot of competition to sell and need to price accordingly.

 

2010 Armonk Sales Numbers

82 sold

3664 average square feet

$4,000,000 high price

$460,000 low price

$955,000 Median price

$337 average price per foot

215 average days on market

92.95% average sold to ask price

 

2009 Armonk Sales Numbers

61 sold

3906 average square feet

$5,100,000 high price

$425,000 low price

$1,020,000 Median price

$338 average price per foot

190 average days on market

91.56% average sold to ask price

 

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Dr. Doom Economist Buys Manhattan Real Estate. A Vote Of Confidence? | Pound Ridge Real Estate

Economist and NYU professor Nouriel Roubini became an international star with his bold predictions—seen as outlandish at the time—on the path of the world economy. By 2006 he was saying that a huge housing bust and other factors would soon lead to a deep recession, and we all know how that turned out. But this housing bear also loves to party, so he’s suddenly feeling bullish on luxury Manhattan real estate. Bloomberg reports that Roubini is the mystery buyer of the incredible triplex penthouse at 6 East 1st Street in the East Village, formerly the neighborhood’s priciest listing. He paid $5.5 million for the 3,700-square-foot loft, which was last asking $5.995 million, and was once priced at $7.35 million. Maybe he was talking trash about housing as a negotiating ploy?

The details, the floorplan. >>

The penthouse has 13′ ceilings, two big terraces, a walnut wet bar and enough entertaining space to host a G8 summit. Or a bunch of models. Whatevs. The Halstead listing is already gone, but the details live on over on StreetEasy. Stay in school, kids, and maybe one day you’ll have a cantilevered steel staircase connecting all the floors of your downtown party palace

Dr Doom Article

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Manhattan Luxury Market Picks Up. Good News for Katonah Market | Katonah NY Real Estate

Manhattan Real Estate Market Continues Steady Growth, as Luxury Sales Perk Up

The 2010 real estate market in Manhattan will be remembered for slow but steady growth, with luxury sales of $3 million and up finally making a strong return in the final months of the year, according to fourth-quarter market reports to be released on Tuesday.

The steadiness in the market was welcome news for brokers who had spent at least part of last year concerned about a possible double dip in prices.

The median fourth-quarter sales prices, in separate reports compiled by the city’s biggest brokerages and by the real estate Web site Streeteasy.com, ranged from $825,000 to $845,000. Those prices represent increases of 3 percent to 11 percent from the same period in 2009. But average sales prices, which were more affected by the increase in higher-end sales, ranged from $1.37 million to $1.48 million, as much as 14.4 percent higher than last year’s prices.

The prices are still far from the peak of the market in 2008, when the median was close to $1 million and the average over $1.7 million, but they are also up from the bottom of the market, in mid- to late 2009, when the median hovered around $800,000 and the average dipped below $1.3 million.

“The year started out strong and remained really solid, despite some slight bumps along the way,” said Diane M. Ramirez, the president of Halstead Property. In 2009 and early 2010, homebuyer tax credits pushed up sales of studios and one-bedroom apartments. Overall volume slowed significantly during the summer, only to return to more typical levels later in the year.

“Now things are selling across the board at all price points,” Ms. Ramirez said, “and we’re finally seeing a more normal market.”

NY Times Article

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Housing Flipping Dead For 2011 | Mt Kisco Luxury Real Estate

We keep hearing about what’s popular in 2011 for home design — but how about what’s not? Builder Magazine writer Jenny Sullivan asked industry experts to weigh in on design fads that you won’t likely see in the new year. Here are some of the fading home trends experts mentioned:

1. Trophy space: Forget those two-story grand entrances. Builders are seeking more affordable, energy efficient design so they are getting rid of large, volume spaces in homes.

2. Just for show: Fancy, overdone rooms won’t cut it in the era of the practical, cash-strapped buyer. Lavish industrial-grade kitchen ranges or fancy master bath spa tubs– that are hardly even used anyway–will fall to the wayside. “The kitchen is once again becoming a working part of the home and not just a showcase,” architect Don Taylor of DW Taylor Associates in Ellicott City, Md., noted in the article. “It needs to provide all of the latest conveniences and technology, but with practical applications in mind. The faux commercial kitchen look may have reached its summit.”

3. Egocentric houses: It’s not just about the interior of a home that makes a home.

Buyers are caring more about its curb appeal and what’s nearby the home as well. Parks, amenities and neighborhood connections create a sense of community, said John M. Thatch, principal with Dahlin Group Architecture and Planning in Pleasanton, Calif. While most infill homes on the boards are 10-20 percent smaller in size, Thatch notes that buyers are willing to trade extra space for a more appealing neighborhood.

4. Home flipping: Gone is the trend of buying a “starter” home or a home for short-term investment. Buyers are now buying for keeps and it’s changing the way they view homes. “The idea of a home as a short-term money maker is essentially gone, so when people do buy they’ll do it with the intention of staying ten years instead of two or three,” says Jim Chittaro, president of Smykal Homes in Chicago. As such, he says buyers will care more about the design of the home and they won’t want it to feel cheap.

NAR Article

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