Daily Archives: January 2, 2014

Migrants buying after Spanish real estate market bottoms out | Mt Kisco Real Estate

Buyer confidence is now returning to Spain via emigrants’ purchase of Spanish property at rock-bottom prices.

Recent house price data released by major real estate agents in Spain indicated that, in the most popular areas, prices have bottomed out and are attracting migrant buyers as a result. Russian and Far Eastern buyers are picking up bargains and the British and Scandinavians are re-entering the market.

There’s much to attract those wishing to emigrate, with prices in the Costa Brava, Marbella and Barcelona, recently down by up to 50 per cent on pre-crash prices, now showing a slight recovery due to renewed interest from overseas. The luxury market is faring best, particularly in beachside destinations such as Ibiza and Mallorca.

Buyers’ demographics are also changing, with increasing numbers of younger people in the 30-40 age group and fewer retirees being noted. Indian, American and Chinese investors are showing the most interest in the popular areas.

According to real estate agents, sellers are still open to price negotiation even although the best properties as regards location and amenities are listed at around 30 per cent below their true value. The Spanish government’s recently announced scheme to give residency to non-EU nationals purchasing a home for over €160,000 would seem to have kick-started the country’s ailing property market.

– See more at: http://www.emigrate.co.uk/news/20140102-8412_spanish-property-now-attractive-to-migrants#sthash.f3MLCa6e.dpuf

Real Estate: Avoid these common mortgage scams | South Salem NY Real Estate

The sluggish economy and slowly recovering housing market create the perfect environment for mortgage scams, with desperate homeowners as easy prey for scammers.

The crooks make the deal sound attractive and legit. Thousands of homeowners are duped in mortgage scams each year, and con artists don’t have to look far for victims, says Yolanda McGill, senior counsel for the Fair Housing & Fair Lending Project, an initiative by the Lawyers’ Committee for Civil Rights Under Law in Washington, D.C.

Most of the victims reach out to the scammers themselves through Internet searches, she says. She bases her conclusion on thousands of complaints that her organization has received from mortgage scam victims.

”The people showing up in our databases are people who are looking for help on the Internet,” she says.

— A theft in-‘deed’

Lured by promises of a better interest rates and lower mortgage payments, some borrowers end up signing away their houses.

Thieves pose as mortgage professionals or attorneys who pledge to modify or refinance the homeowner’s mortgage. The borrower is asked to sign the supposed modification papers. One of the pages in the stack of documents is a deed that, once signed, transfers ownership of the property to the perpetrators or a company related to them.

While many homeowners would be able to spot such an ingenious trick, others don’t bother to read or simply don’t understand the documents they sign, says Brian Sullivan, a U.S. Department of Housing and Urban Development spokesman.

14 Predictions for NYC’s Housing Market in 2014 | Waccabuc Real Estate

Low inventory, bidding wars and record-setting prices were recurring themes for New York’s residential real estate market in 2013.

In 2014, rising mortgage rates, a new mayor and administration and a surge in new construction could be the factors that spark major changes in real estate. DNAinfo asked the experts for their forecasts.

1. Rising mortgage rates will likely dampen price growth by mid 2014

Concern over rising mortgage rates pushed some prospective buyers to seal the deal in 2013. In Manhattan’s third quarter, for instance, the number of sales spiked 30 percent compared with the year before — the most transactions since the recession began — according to a report released by Douglas Elliman, the city’s largest residential brokerage.

But with rates expected to rise, resulting in higher monthly costs, buying may no longer be an option for some, which may make for a less frenzied market.

“2014 is going to be the year of ‘slow and steady,'” said Dottie Herman, president and CEO of Douglas Elliman, “With interest rates inching up, that should help level things off to a more sustainable level of housing price growth.”

Frances Katzen, one of Elliman’s top brokers, agreed: “I also believe 2014 will reflect an adjustment in purchase power due to mortgage rate hikes, and I do expect the mid-year to mellow down with respect to heated prices.”

2. Inventory will expand … just a bit

In terms of new construction, Manhattan will see more condos and Brooklyn will see more rentals, real estate expert Jonathan Miller said.

“I do see inventory edging higher, but not sharply,” Miller said. “That will keep prices making modest gains.”

He added: “I don’t see 2014 as a bad market, but I view it as a little disappointment relative to the euphoria in 2013.”

3. Manhattan will see a wave of ultra-luxury condos opening

A slew of new buildings are slated to open, according to Jeff Schleider, founder of Miron Properties. He noted that nearly every developer his firm represents has a few projects in progress that will hit the market in 2014.

Because land costs have soared in Manhattan, with some areas commanding more than $700 a foot, these projects are primarily luxury: priced at more than $2,500 a square foot and above in order to be profitable — which means they won’t ease the housing shortage, brokers said.

4. But the prices of these high-end projects may not be sustainable

“It will be interesting to see if the market demand for this product will be strong enough to absorb this volume of units,” Schleider said.

Many brokers aren’t convinced these prices can be sustained beyond the first wave of these buildings.

“The new construction is so over-luxurious,” Elliman’s Katzen said. “It comes down to the quality of what you’re looking for — a lot of them are like hotel rooms. [But] I think there are a few of us who appreciate more classical homes.”

Kirk Henckels, director of Stribling Private Brokerage’s division that focuses on luxury sales above $5 million, said, “Smart developers are reassessing. Some prices will go up and some will go down.”

http://www.dnainfo.com/new-york/20140102/east-harlem/14-predictions-for-nycs-housing-market-2014

Elliman’s Oren Alexander to co-list $95M property | Cross River NY Homes

The 18th-floor penthouse unit at the Sherry Netherland on Fifth Avenue, a listing in the hands of superbroker Dolly Lenz before she departed Douglas Elliman in June, is changing brokers again.

Lisa Simonsen, the Elliman broker behind the $48 million sale of a Plaza Hotel condominium in 2011 – the priciest apartment trade in New York City history at the time – no longer holds the 781 Fifth Avenue listing, Elliman broker Oren Alexander confirmed. Alexander, who also holds the $5 million listing for No. 501 at the Sherry Netherland, will now be co-listing the property with Brown Harris Stevens broker Kathy Sloane, who initially shared listing with Lenz and continued to share after it switched to Simonsen.

The Alexander team, which includes Oren Alexander, his brother Tal Alexander and 10 others based in both New York and Miami, hopes to go live with the listing by Monday, Oren Alexander told The Real Deal.

“This is not just a change of broker, but a change in the whole marketing strategy,” Alexander said. “This property is right up our alley, we have been really focusing our team on selling trophy properties.”

The listing, which was reduced to $88 million from $95 million in December, will now ask $95 million, Alexander said. “I was not involved in reducing the price, but my understanding was that it was a mistake,” he said.

Sloane, a senior vice president and managing director at Brown Harris Stevens who sold Courtney Sale Ross’ duplex co-op at 740 Park Avenue for $52.5 million in 2012, did not immediately respond to request for comment. A spokesperson for Brown Harris Stevens confirmed that the listing remains a co-exclusive. Simonsen also did not immediately respond to request for comment.

Liberty Travel founder Gilbert Haroche owns the 18th-floor, prewar co-op, which boasts seven bedrooms, eight bathrooms and a master bedroom suite overlooking Central Park. Purchased as numerous smaller apartments pieced together over the years, the property now spans 9,000 square feet inside and includes a 2,000 square feet of outdoor terraces, as previously reported. His past neighbor, Judge Judith Sheindlin — better known as television’s “Judge Judy” — sold her 10th and 11th-floor unit in the building in June for $8.5 million.

http://therealdeal.com/blog/2014/01/02/co-listed-sherry-netherland-penthouse-switches-brokers-at-douglas-elliman/

Teatown Lake Reservation updates | Katonah Real Estate

January 2, 2014

HAPPY NEW YEAR!

We look forward to another year of engaging people with nature!

Photo taken by Elissa Schilmeister, Environmental Educator, at our Holi-Daze Mini Camp.

Visit Teatown

1600 Spring Valley Road

Ossining, NY 10562

914-762-2912

www.teatown.org

Nature Center hours:

9:00am-5:00pm everyday

Trails are open 365 days a year from dawn to dusk.

Teatown Lake Reservation’s

mission is to conserve open

space and to educate and

involve the regional community

in order to sustain the diversity

of wildlife, plants and habitats

for future generations.

Your donation can make

an immediate impact to help

conserve and protect the

diversity of wildlife, plants

and habitats…

today and into the future.

In Teatown’s Gallery

Recent Works by
Inez Andrucyk

Inez Andrucyk has exhibited at
The Hudson River Museum,
The Jacob Burns Film Center,
The Katonah Museum, The Arts Exchange, various galleries, colleges and universities, and was a guest speaker at The National Museum in Malta and Rutgers University. Murals are located in New York City (featured on Channel 11 News) and Port Chester, NY.

Photos of her work have been featured in The New York Times, and in “Crimes of the Beats and Unbearables.” Her Community Mural was listed in “On the Wall: Community Murals” by Janet Braun-Reinitz and Jane Weissman.

Inez enjoys teaching art to adults, children, youth and at risk populations. Her long term teaching position is at Silvermine Arts Center.

All photographs are for sale, and all proceeds will be donated to Teatown Lake Reservation.

www.teatown.org

Animal Adventures: Musky Mustelids
Saturday, January 4, 11:00am- 12:00pm

Meet a few of Teatown’s ambassador animals in this program featuring odiferous animals. Families with children 4 & over. Free for members, $5 for non-members.

First Hike of the New Year
Sunday, January 5, 1:00- 2:30pm

Kick off the New Year with a hearty hike in the frosty air. We’ll hike up into Hidden Valley looking for winter wildlife. On our return we’ll toast the New Year with a hot drink. Please dress for the weather and wear appropriate footgear for the trail conditions. All welcome. Free for members, $5 for non-members.

All programs require pre-registration

To register call 914-762-2912 x 110

unless otherwise noted.

Click for more info on Teatown’s upcoming programs.

Teatown’s Hudson River EagleFestsm
General Admission Tickets Now Available!

Click here to purchase general admission tickets.

To purchase bus tour tickets, call 914-762-2912 x 110.

For more information, click here.

Nature Girls

Tuesdays, January 28 – March 25, 3:30 – 5:30 pm

Come on girls get your nature on! Led by Elissa Schilmeister, girls will hike and explore natural habitats, engage in team-building activities, conduct mini-experiments and scientific investigations. *No program February 18. Girls ages 10- 14.

For more information, click here.

Little Tree Huggers: Wonderful Winter

Tuesdays, January 28 – March 11, 10:00- 11:15am

This class for 2- 3 year olds is packed with age-appropriate outdoor explorations, stories and activities. *No program February 18. Must be accompanied by parent or caregiver.

For more information,click here.

Reap the rewards

of being a Teatown member.

Click to join today!

Farewell to Jove

Our beloved little kestrel, Jove, passed away earlier last week. He had a beak handicap which meant that he would never survive in the wild. So he came to Teatown and spent the last 6 years educating the public about raptors, falcons, and especially, the right steps to take when encountering baby birds to prevent imprinting. He helped give those birds the chance he would never have – a wild life.

Jove had more character and personality packed into that tiny body of his than you could imagine. I am certain that at some point he landed on every handler’s head in his enclosure. He loved to fly to his dish and be hand fed his minced mouse tartar, making him one of the easiest birds to work with. And, “working” did not phase him – he was comfortable with his audiences, allowing countless people a chance to glimpse a beautiful falcon up very close and personal. He both wow’d and charmed his audiences time and again. He even had his five minutes of fame, starring in the opening scene of the locally filmed movie “A Birder’s Guide to Everything.”

Jove has earned a special place in my heart, and I can honestly say that he will probably be one of the best raptor ambassadors that I’ll ever work with. I know those of you who will miss him most – miss him rousing on your glove, bobbing his head and tail. I think we can all be proud of our little friend’s legacy. He touched many lives and helped instill compassion and respect for wildlife and their local habitats.

-Written by Erin Baker, Teatown’s Animal Care Supervisor & Environmental Educator.

“From Garbage to Black GOLD: Realizing the Value of Food Waste”

January 24, 2014, 8:30 am-10:30am
Greenburgh Public Library

Conservation Cafe´presents

the next Conversations on Conservation.

“From Garbage to Black GOLD:

Realizing the Value of Food Waste”

Moderator: Braeden Cohen, Composting/Sustainability Specialist and educator at the Greenburgh Nature Center will be discussing the scope and expense of the food waste problem in Westchester; composting as a profitable solution to food waste; basic mechanics of composting food along with yard organics.

Jean Bonhotal of the Cornell Waste Management Institute and the Department of Crop and Soil Sciences, will be speaking on the economics of food waste composting and case studies of food waste composting operations in New York State.

Terry Laibach, Recycling Specialist at NYS Department of Environmental Conservation Region III will talk about the New York State DEC requirements for food waste composting in New York and examples of food waste composting facilities currently in operation or in planning stages in New York State.

Sarah Groat, Manager of Soil, Recycling, and Compost Operations at Stone Barns Center For Food and Agriculture will present on how Stone Barns turns Garbage To Gold as part of both their mission and business operations.

Who Should Attend: Municipal officials, DPW officials, school facility managers, grocery store associations, restaurateurs, homeowners, the agricultural community, gardening enthusiasts, organizations that have high food waste disposal costs and those concerned about waste.

Registration begins at 8:30 a.m.; the program begins at 8:45 a.m.

This is a FREE program, and all are welcome to join.

Australia House-Price Jump Rekindles Bubble Fears | Bedford Hills Homes

Home prices in Australia’s main cities surged in 2014, deepening concern a possible housing bubble may be forming that could potentially derail a fragile economic recovery.

The country’s property market ran hot again last year with prices nationally rising at the fastest pace in more than three years, fueled by record-low interest rates and growing demand for investment housing.

The sharp rises throughout past year have created some of the most expensive property in the world, fanning concern the market may be overheating and that a sudden crash could make jittery consumers even more nervous about spending.

The central bank has cut rates eight times in the past two years to try to get other sectors such as retail and housing to pick up and to compensate for a fading mining boom that is expected to dent the economy in coming years.

The RP Data-Rismark house-price report for December showed home values rose by 9.8% during the 2013 calendar year. Sydney, the country’s largest property market, posted a 14.5% gain over the same period, while property prices in Melbourne and Perth also made strong advances. In December, home values nationally rose by 1.4% from November.

The housing figures came on the same day data showed manufacturing activity contracted in the last month of 2013. It was the second contraction in a row that erased expansions in September and October.

“This latest snapshot is yet another reminder of the urgency for Australia to put itself on a more balanced and diversified growth path,” said Innes Willox, chief executive of AIG Group, which did the survey.

The disparity between surging house prices and weaker manufacturing highlights the key challenge facing Australia’s economic-policy makers, who must find new sources of growth as the decadelong mining boom cools.

http://online.wsj.com/news/articles/SB10001424052702303640604579295503032402682

Treehouse

Incredible treehouse hotels | Bedford Corners NY Homes

ARIAU AMAZON TOWERS
This sprawling sylvan playground, located 35 miles northwest of Manaus, offers more than six miles of canopy walkways, some as high as 70 feet. Outdoorsy though they may feel, these treehouse suites have all the trappings of more conventional accommodations: A/C, queen beds, private bathrooms, and big ol’ balconies. Adventurous guests can go jungle trekking and piranha fishing, or sign up for a tropical tree-climbing program led by local photographer Leonide Principe; the rest of you can just drink the day away in one of the resort’s four treetop bars.

http://living.msn.com/life-inspired/life-unleashed/incredible-treehouse-hotels

Fixed Mortgage Rates Start the Year Higher | Bedford NY Real Estate

Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates continuing to edge higher as we enter the new year.

News Facts
•30-year fixed-rate mortgage (FRM) averaged 4.53 percent with an average 0.8 point for the week ending January 2, 2014, up from last week when it averaged 4.48 percent. A year ago at this time, the 30-year FRM averaged 3.34 percent.

•15-year FRM this week averaged 3.55 percent with an average 0.7 point, up from last week when it averaged 3.52 percent. A year ago at this time, the 15-year FRM averaged 2.64 percent.

•5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.05 percent this week with an average 0.4 point, up from last week when it averaged 3.00 percent. A year ago, the 5-year ARM averaged 2.71 percent.

•1-year Treasury-indexed ARM averaged 2.56 percent this week with an average 0.5 point, unchanged from last week. At this time last year, the 1-year ARM averaged 2.57 percent.

Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following links for the Regional and National Mortgage Rate Details and Definitions. Borrowers may still pay closing costs which are not included in the survey.

Quotes
Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac.

“Mortgage rates edged up to begin the year on signs of a stronger economic recovery. The pending home sales index inched up 0.2 percent in November, after five consecutive months of decline. The Conference Board reported that confidence among consumers rose in December and the S&P/Case-Shiller® 20-city composite house price index rose 13.6 percent over the 12-months ending in October 2013.”

What a midsize home costs in 15 cities | Bedford Hills Real Estate

We can envision a tiny house or a sprawling mansion. But how big, exactly, is a “midsize” home?

According to the latest available data (PDF) from the Census Bureau, the median size for a U.S. single-family house is 2,306 square feet. This means that half of all homes in the country are smaller than this size, and half are larger.

What this kind of home costs, however, varies greatly by city.

Here’s a look at homes for sale that are at or near the median home size in 15 parts of the country.

http://realestate.msn.com/what-a-midsize-home-costs-in-15-cities

DIY Center: Projects Are Calling | Bedford Corners NY Homes

Organizational shoe-in

Finding the right organization and storage solutions for your home can be hard. But making your own is much easier than you’d think! These 38 DIY organizing ideas may inspire you.

Don’t you just love it when a storage solution that is ideal for one type of organization turns out to be equally useful for another? Hang a clear shoe organizer on your pantry door, label the pockets with colorful tags, and use them to store a variety of kitchen utensil and supplies. You’ll find it’s a perfect fit.

http://living.msn.com/home-decor/diy-center-projects-are-calling/slideshow?cp-documentid=259178005