Daily Archives: April 29, 2013

Villa Sorriso: Robin Williams’ Napa Valley Estate for Sale | Chappaqua Homes

Hollywood comedian Robin Williams is interested in selling his massive Napa Valley estate, Villa Sorriso. The villa is on 653 acres and includes a 20,000-square-foot main house; solar farm; and 18 acres of Cabernet Sauvignon, Merlot, and Cabernet Franc grapes.

Villa Sorriso is built atop the Mayacama Mountains, which separate the Napa and Sonoma valleys. The five-bedroom, 12-bathroom Italian villa was designed by David Gast & Associates and is faced with Portuguese limestone. The interior features formal living and dining rooms, a gourmet eat-in kitchen, and numerous temperature-controlled vaults for both wine and art storage. The kitchen is understated yet elegant, with stainless steel appliances surrounded by marble and butcher block counters. The living room is simple yet elegant, including a terrace with views of the estate.

No actor’s house would be complete without a state-of-the-art movie theater. The house also features five luxurious bedroom suites, each ornately adorned with contemporary trappings. Each bedroom has its own en suite bathroom and jaw-dropping views from every window.

In addition to 20,000 feet of interior living space, the grounds are truly the spectacle of the property. Steps from the master suite is a 65-foot, infinity-edge swimming pool surrounded by antique stonework and a multitiered sculpture garden, perfect for entertaining. Tennis courts, hiking trails, and a private lake complete with rowboat highlight the variety of different outdoor activities on the estate.

Katonah Sales Down 4.5% | Median Price Up 15% | RobReportBlog

Katonah NY Real Estate ReportRobReportBlog20136 months ending 4/29201221Sales22$750,000.00median sold price$651,500.00$320,000.00low sold price$365,000.00$7,000,000.00high sold price$4,000,000.003564average size2859$308.00ave. price per foot$328.00261ave days on market216$1,262,785.00average sold price$1,027,795.0089.67%ave sold to ask94.08%

Bank-owned homes are back on the market | Armonk NY Real Estate

A new article from NaplesNews.com reports that banks are no longer holding onto distressed properties.

Instead, economists quoted in the article are backtracking on previous forecasts suggesting that banks will continue to sit on inventory.  

The report says banks are now quick to increase their foreclosure filings and launch short sales and other property disposition actions when appropriate.

The report attributes the increase in inventory movement to the national mortgage servicing settlement with attorneys general in 2012, which kick-started the process.

Investors face new housing era obstacles | North Salem Real Estate

In this new era, trading mortgages has been challenging over the past year for investors due to a number of reasons. 

In particular, massive mortgage-backed securities purchases by the Federal Reserve have impaired liquidity and market depth while policy changes have made prepayments difficult to forecast because of changes to the Home Affordable Refinance Program and Federal Housing Finance Agency leadership remain uncertainties, JPMorgan Chase said in its latest report. 

Additionally, short rates have been anchored, rendering traditional measures of duration such as parallel rate shifts irrelevant, particularly for higher coupons, the banking giant noted.

“As a result of these factors, many inter-coupon relationships are no longer mean-reverting with the same frequency they exhibited in previous environments, and money managers therefore struggle to generate alpha using age-old methodologies such as regression analysis,” said analysts of JPMorgan ($48.86 -0.0179%).

Investors expect the 2-year note on higher coupons to remain anchored for some time, as the central bank continues to open-ended third round of quantitative easing, making the correlation between price and rate moves anemic. 

A potential foreclosure bargain for only $50k | Mt Kisco Real Estate

New Jersey is one of the hardest-hit states in terms of how long it takes to complete a foreclosure.

But on the flipside, once the distressed inventory hits, there are some real steals out there for first-time homebuyers.

For example, take this home in Trenton, N.J., which is selling well under the market’s median price, according to Patch’s House Hunt in Trenton report.

It’s a small, well-kept single-family home priced at $50,220. That’s right just $50k.

It comes with hard-wood floors, a comfy porch and a homey fireplace.

Eminent domain should never be political, but it is | Cross River Real Estate

There’s a reason the world hates lawyers, but in reality, the world should be more upset at politicians who generally confuse politically driven lawyers as task masters that are useful, but neither committed to the laws they write or willing to back them under divergent scenarios.

Take eminent domain for example. Even after San Bernardino County, Calif., gave up on the idea of allowing government officials to use eminent domain to disrupt investors’ interest in mortgages for the purposes of giving homeowners principal reductions, other counties have been apparently considering the idea in California.

What’s odd though is another eminent domain-related bill is getting slammed in Colorado because it would allow oil pipeline companies to have eminent domain and condemnation rights in certain scenarios where they need to expand their operations. That particular bill never made it out of committee because the terms frightened lawmakers who remain attached to the idea of not toying with property rights.

That’s a fair assessment – the idea that intervening in property rights is a fundamental violation of the original contract and the very nature of ownership.

Yet, somehow when it comes to eminent domain on the housing side, the drum beat continues with little objection to the idea that knocking out investors’ interest is noble and efficient.

What proponents of eminent domain forget to ask themselves is whether they would back the same view under a different type of scenario.

The Colorado House panel’s killing of the oil-related eminent domain bill shows it’s unlikely they would

What a pool brings to home investment | Waccabuc Real Estate

It can be difficult to estimate what pool repairs may be needed, and if you have, say, 20 minutes to do a full inspection of the house, the “ifs” of a range of $50 to $5,000 can swing your margins in the red quickly. If the home is a short sale, the pool may be sitting for months longer and cost more than you initially estimated, as well, writes AOL Real Estate.

If you have longer to get an inspection, and a pool person is able to give you an estimate on getting the pool back in working condition, then the initial costs may be worth the investment. However, there are further things to consider. Click here to see the full list of what to consider.

How to jump on the video bandwagon | South Salem Real Estate

Are you still stuck in “E” rather than moving forward into “V”?

If so, it’s time to shift from email, e-cards, email newsletters, blogs, and auto-responders to the next generation of communication: vmail, vcards, vresponders, viewsletters, and vlogs.

I recently spoke with Roger Noujeim of ListedBy.com about his take on the latest trends. He noted that ListedBy clients who use video to promote their listings generate significantly more traffic than those who don’t.

He also noted that there are 700 videos posted on Twitter every minute. Noujeim described this trend as going from “E” to “V.” In fact, Cisco projects that 90 percent of all Web traffic in 2014 will be devoted to video. If you haven’t jumped on the video bandwagon, here’s how to get started.

From email to vmail

People retain 10 percent of what they hear and 15 percent of what they see. The average person spends about eight seconds viewing a text message. In contrast, video email is viewed on average to 85 percent completion. Consequently, to get better results from your email communication, shift from regular email and text messaging to vmails.

Use Pinterest Web Analytics to Jumpstart Your Social Media Marketing | Katonah NY Realtor

Pinterest Web Analytics gives site owners insights into how people are interacting with pins that originate from their websites.

use pinterest analytics to jumpstart your marketing Use Pinterest Web Analytics to Jumpstart Your Social Media MarketingWith more than 48 million users, Pinterest is one of the most popular social networks on the Web. Rather than telling people about your products, Pinterest makes it possible to show what you have to offer. Companies are increasingly using the platform to reach new audiences, increase visits to their websites, and generate leads and sales — and it’s working.

As I noted in a previous post, Pinterest users spend more money, shop more frequently, and purchase items more often and in larger quantities than users on any other social network. Women are about five times as likely to use the site as men. Unlike other social bookmarking sites, content shared on Pinterest is driven entirely by visuals — it’s impossible share something on Pinterest unless an image is involved. You can reach millions of people if your pinned content — a picture or video — goes viral. If your business relies on driving website traffic, you should create a company presence on the site.