Daily Archives: November 7, 2014

Millionaire Bargain Hunters Swoop on London’s Flatlining Luxury Real Estate | Waccabuc Real Estate

Luxury London house prices were unchanged in October, the first time in four years without a monthly rise. To thrifty millionaires looking for Luxury residential homes, that’s a buy signal.

London property-buying agents have seen an influx of bargain hunters knocking on their doors. Many are the same clients that balked at eye-watering asking prices earlier this year.

The leveling off in October shown by the Knight Frank data is widely expected to continue ahead of the U.K.’s general election next May.

Data like this encouraged one potential buyer from China to book a trip to view London homes on Dec. 20, said Penny Mosgrove, managing director at buying agent Quintessentially Estates. Her client has left empty handed on four previous trips this year, but “he thinks that right before Christmas he’ll be more likely to get his bargain,” Ms. Mosgrove said.

Evidence of the cooling market has extended beyond price data. Last month, real-estate broker Foxtons GroupFOXT.LN +0.30% warned it would miss year-end targets due to weak London sales volumes. The firm’s stock Friday was trading at 172 pence, about 57% below its peak of 402 pence reached in February.

That share price was all one American client of Ms. Mosgrove’s needed to see to stop dragging his feet after a nine-month search, Ms. Mosgrove said. “He came in and said that’s it, I want a deal,” she said.

However, bargain hunters shouldn’t expect to find a raft of reduced prices. Lots of sellers are still holding firm, said Jo Eccles, managing director of buying agent Sourcing Property. “Everybody is getting very excited about the market collapsing. But the bargain hunters we’re seeing are usually disappointed,” she said.

read more…

http://blogs.wsj.com/moneybeat/2014/11/07/millionaire-bargain-hunters-swoop-on-londons-flatlining-luxury-real-estate/

Steady Job Growth in October | Cross River Real Estate

The economy continues to produce jobs at a modest pace, although wages gains remain weak according to the most recent labor market reports from the Bureau of Labor Statistics. Improvements in both areas should help support growth in both owner-occupied and rental housing demand in the coming year.

res constr employment

In October, home builders and remodelers added 8,000 jobs to the residential construction sector on a seasonal adjusted basis according to NAHB analysis of BLS data. Over the last 12 months, the industry has created 131,000 jobs. Since the low point of industry employment following the Great Recession, the residential construction industry has gained 333,700 positions, although employment remains 1.132 million lower than the peak level seen in early 2006. Employment growth for the sector has been steady recently, adding on average just a little more than 10,000 jobs per month over the last six months.

U rate

Of course, national employment conditions are a key factor driving housing demand. According to the most recent BLS data, total nonfarm payroll employment grew by 214,000 on a seasonal adjusted basis in October. After upward revisions for September and August, the economy added 673,000 positions over the last three months. In the separate household survey, the national unemployment rate fell from 5.9% to 5.8% in October. Real wage growth continues to lag, posting only a 0.1% pickup in October after a 0.2% decline in September.

 

read more…

 

http://eyeonhousing.org/2014/11/steady-job-growth-in-october/

Local Representation for North Castle | Armonk Real Estate

Local Representation for North Castle Neighborhoods

Understanding the Ward System – Frequently Asked Questions

Neighborhood Representation on the North Castle Town Board will  make Town Government more accessible and accountable.

 

 

A special election considering Neighborhood

Representation on the Town Board will be held on Thursday, November 13, 2014.

 

Propositions to convert Town Council elections to the Ward System and to increase Councilpersons to six from four will provide a more representative system for North Castle citizens.

 

 

What is the Ward System Proposal?

 

Quite simply, it is changing the way we elect Board Members from town wide elections, to elections based on districts built around neighborhoods.  It is also proposed to increase the number of Councilpersons from four to six to allow more direct representation of the many neighborhoods in the town.  No other aspect of Town government changes.

 

 

 

Why do we need a change?

 

The current system allows one area of Town to dominate the election process leaving other parts of town underrepresented.

 

There is no geographic diversity on the Town Board. In recent memory, there has not been a council member from North White Plains, the Middle Patent or Banksville  areas. Other neighborhoods such as Windmill and Whippoorwill have had to  rely on Neighborhood Associations to be heard.

 

Currently the all  Town Board Members live, on average,  one mile from the Town Hall and this has been the case for decades.  The Armonk centric Board does not understand the needs of the many neighborhoods in the Town. The ward system will provide elected  neighborhood representation and will assure your neighborhood has representation on the Board.

 

 

Why is this a problem?  Our town spans a large area with highly diverse communities.  Different geographies – urban, suburban and rural;  different age and economic profiles – middle class, professional, new families, retirees;  different school districts – Byram Hills, Valhalla, Bedford, Harrison, Mt. Pleasant.

 

Almost 10% of active voters in North Castle signed the Petitions calling for the referendum. They and many more believe that the Town Board structurally “didn’t get it” and would not until there was a reform in the system.

 

 

 

How will this benefit Your Neighborhood?

 

Your neighborhood will have someone on the Board who understands your needs; will be from your neighborhood; and is accountable to you.

 

 

The change to the Ward System will also bring the Town Board back to standard two year terms instead of the current four year.  This will  increase the accountability of councilpersons.

 

 

 

Will we lose influence by voting for our own Councilperson?

 

 

You will gain influence.    The current political environment in North Castle is dominated by factions and parties, not by neighborhoods where the need for services reside.

 

Current Councilpersons are accountable only to the biggest blocs of votes, not to every neighborhood.   A dedicated councilperson will be your representative and and will have a seat at the table.

 

Without a representative system 51% gets 100% control and 0% for the rest.  That is why we need representative government.

 

In North Castle you will gain representative government. You will vote for your  councilperson, the Supervisor, the Town Clerk and Tax Receiver.

 

 

 

Why increase the number of Board members?

 

 

North Castle is spread over a large and diverse geography with numerous distinct neighborhoods.  Six councilpersons are necessary to create districts built around key neighborhoods

 

 

Will there be enough candidates?

 

 

 

More than enough.  The Ward System dramatically lowers the barriers to running for office. Candidates will no longer have to rely on The Democrat or Republican  Political Parties  to effectively launch a campaign.

 

THAT IS WHY THE PARTY COMMITTEES ARE OPPOSING IT!

 

Candidates need only compete in their neighborhood rather than Town wide, making campaigns closer the the voters, lower cost and easier to conduct.

 

 

We currently have four Councilpersons in an area which would be the equivalent size of one ward.  Those councilpersons are arguing that we could not get one “qualified”  candidate from each of the other proposed 6 areas.

 

 

 

Will this Cost the Town More?

 

 

It should cost less, not more.  A change in the Board system is an opportunity to adjust Board compensation from $18,000 per year plus benefits to perhaps $10,000 like New Castle or $0 like Scarsdale.  The cost is totally up to the Board and can be reduced substantially.

 

 

Will the Ward System create divisiveness on the Board?

 

 

Current Board members are arguing that it is now peaceful on the Board and that the Ward System would create divisiveness.

 

 

They are somehow assuming that the current set of councilpersons, who live on average just a mile from Town Hall, can work together responsibly, but representatives from other parts of Town cannot.  A Board from all parts of town is not divisive.  It is representative. The implication that a representative from currently unrepresentative neighborhoods could not work constructively on the Board is insulting.

 

 

We can be sure that Town Board members will have the wisdom to work together for the benefit of the whole town. Having geographic diversity on the Board will help them to make better decisions.  Some disagreements on the Board may be a good thing.

 

 

How will districts be drawn?

 

Under the law, districts must be made up of approximately the same population.  The petitioners are proposing six districts built around major neighborhoods in Town.  The exact boundaries will be established by the Westchester Board of Elections.  The Town and the public will have input into the final boundaries. 

 

 

 

Who Supports Neighborhood Representations?

Some councilpersons contend that the ward system is a “solution in search of a problem”.  Almost 10% of North Castle active voters signed the petition supporting neighborhood representation via the ward system. They think there is a problem.  These petitioners came heavily from neighborhoods which do not feel represented by the current system.

 

 

 

 

 

PLEASE JOIN US TO FIGHT FOR NEIGHBORHOOD REPRESENTATION – FORWARD THIS TO A FRIEND.

 

 

 

 

VOTE ON NOVEMBER 13 FOR BOTH OF THE WARD SYSTEM PROPOSALS.

 

 

 

 

 

 

 

 

 

 

 

Informed Citizens | tony@armonk.email | Informed Citizens 2014 | Box 59 | Valhalla, NY 10595

 

 

 

Buy Lauren Bacall’s Dakota Home for a Whopping $26 Million | Katonah Real Estate

 

DakotaExterior.jpgThe late great Lauren Bacall‘s long-time Dakota residence is poised to hit the market any minute now, asking a whopping $26 million. Her estate tapped Warburg Realty to broker the place, which she purchased back in 1961 for a pittance, when she could count Boris Karloff, Judy Holliday and Roberta Flack as neighbors. All ye who would like to live in the storied Dakota building: it’s haunted.

Reports vary: did the venerable actress pay $28,000 or $48,000 back in the day? Either way, it’s appreciated a lot. Appraisers valued the apartment, which apparently hasn’t been touched in years and is crying out for a good renovation, at $9 million. So the difference of $19 million is no doubt because Bacall was all-around beloved, and institution, and with that star power comes a hefty asking price. Stay tuned for photos.

 

read more…

 

http://ny.curbed.com/archives/2014/11/06/buy_lauren_bacalls_dakota_home_for_a_whopping_26_million.php

Renovated 80s Modern Looks Cool and Classic Today | Bedford Hills Real Estate

 

5 Gunpowder Lane East Hampton
11 images

This house, designed in 1985 by architect Robert Young, looks fresh as a daisy now because of a recent renovation. Recent as in this autumn. The house sold back in August for $765K and now is asking $1.925M. Er…good luck with that? Looks like the flippers put in a new kitchen, bathrooms, re-landscaped and updated the mechanicals. The house has four bedrooms and 2.5 baths in 2000sf. The plot size is 0.7 acre and includes a pool and outdoor shower.

 

read more….

 

http://hamptons.curbed.com/archives/2014/11/06/renovated_80s_modern_looks_cool_and_classic_today.php