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Armonk Homes for Sale

Cleaning Up Armonk | Armonk Real Estate

To The Residents of North Castle…………………….


            On July 3, 2015 I wrote a letter to the Town Board (see below). The issue at hand relates to the irresponsible and hazardous stockpiling of asphalt millings or RAP (Recycled Asphalt Pavement) within the Highway Department’s property off Bedford Road and within its yard on Middle Patent Road.  There is great concern that the stockpiling of asphalt millings can cause serious human health and environmental problems.  Dust particles containing high concentration of pollutants can be wind swept into the air off of stockpiles and rainfall can cause these same pollutants to leach out into the soil and eventually find their way into our water supply.


I am very concerned that the Town maybe stockpiling this material without the proper permits required from the New York State Department of Conservation (DEC) nor are they abiding by the New York State Environmental Quality Review Act or SEQR.  To read more information about the SEQR process visit the NYS DEC website atwww.dec.gov.ny/permits/357.html


Last April I fought with the Town unsuccessfully to have stockpiles of asphalt millings removed from the Town yard at Middle Patent Road, an area which is in close proximity to State regulated wetlands. The Middle Patent yard is boarded by the Mianus River watercourse which has tributaries that lead into the Mianus Gorge, which in turn provides drinking water to certain areas of Connecticut.  Also, the yard is located in close proximity to the wells that provide drinking water to the residents of Windmill. Is our town acting environmentally responsible? Does it fully understand the potential problems we face as taxpayers without going through the SEQR process?


I plan on attending tomorrow night’s Town Board meeting to discuss these issues.  The meeting will be held at the North White Plains Community Center, 10 Clove Road, North White Plains, New York 10603 at 7:30 pm.


Michael Fareri



July 3, 2015


Supervisor Michael J. Schiliro & Members of the Town Board

Town of North Castle

Town Hall

15 Bedford Road

Armonk, New York 10504


Re: Town Dump


Dear Supervisor Schiliro & Members of the Town Board:

It is with great displeasure that once again I have to report to you the foolish and irresponsible actions undertaken by the Town Administrator and the Towns Highway General Forman. After all the weeks of aggravation I was put through last April in an effort to have the stockpile of asphalt millings removed from the Towns property across from my office building at 333 Main Street, approximately 4000 cubic yards of milling were once again delivered to the Towns property and stockpiled.
I spoke to the Town Attorney and the Town Engineer and they assured me that they knew nothing about this situation and I believe them because surely, they would not allow the Town to be exposed to such a potentially damaging liability.  As I stated on numerous occasions in the past, not only is this aesthetically unpleasing where located, the stockpiling of asphalt millings has the potential to pose human health and environmental concerns (see links & photos below).  Asphalt millings, also known as RAP (Recycled Asphalt Paving) contain a high concentration of Polycyclic Aromatic Hydocarbons (PAHs) which are compounds specified as pollutants by the U.S. Environmental Protection Agency (USEPA).  When rainfall or wind infiltrate these stockpiles, especially in the condition they are in which is one without any form of protection whatsoever, they will leach off contaminates into the soil and from there a potential migration of contaminates into our water supply.
 Has everyone already forgotten Westwood and the $500,000 cost to the taxpayer? Trust me, the stockpiling of these millings could bring about even greater environmental problems.  That is why I am demanding that you have these millings removed from Town property immediately.  If they are not removed immediately I will take whatever legal action necessary to see that it is done while holding this Town Board, the Highway Department and the Town Administrator responsible and accountable. 




Michael E. Fareri

Click on the link below, or copy and paste the URL link into your web browser address box


All About Armonk – Read Michelle Boyle’s article regarding Fareri’s letter and the stockpiling of millings



Leaching Characteristics of Asphalt Road Waste by Timothy G Townsend, June 1998



Asphalt Pavements and the Environment by Dr. Gerhard J.A. Kennepohl, P.Eng.



Life Cycle Environmental and Economic Assessment of Using Recycled Materials for Asphalt Pavements by Arpad Horvath



 Recycled Asphalt Pavement and Asphalt Millings (RAP) Reuse Guide by NJDEP


Middle Patent Yard
Mianus Watercourse
Highway Dept. Property


Sales of Existing Homes to First-Time Buyers Rise | Armonk Real Estate

Existing home sales, as reported by the National Association of Realtors (NAR), rose to the highest pace in six years in May. The report was also notable due to an increase in purchases by first-time buyers, which rose to the highest share experienced since September 2012.

The May pace of existing home sales (5.35 million on seasonally adjusted annual basis) was 5.1% higher than the prior month and 9.2% higher than the rate set during May of 2014. Sales of single-family homes were up 5.6% for the month, reaching a 4.73 million annual rate.


The first-time buyer share increased to 32% in May, up from 30% in April. NAR reported that first-time buyer share reached its highest level since September 2012. This increase is consistent with prior analysis of Fannie Mae data illustrating that the share of mortgage originations to first-time home buyers is expected to rise in 2015.

Regionally, existing home sales increased strongly in the Northeast (11.3% for May) and are up 11.3% year-over-year. Midwest sales increased 4.1% for the month and now stand 12.4% higher than May 2014. Sales in the West rose 4.3% in May and are up 9% from a year ago. Finally, sales in the South increased 4.3% compared to April and are 6.9% higher than May 2014.

Total housing inventory, as estimated by NAR, increased 3.2% t0 2.29 million existing housing units. This marks a 5.1 months-supply at the May sales pace.

The median existing home price in May was $228,700. NAR noted that May represented the 39th consecutive month of year-over-year price gains for existing homes.


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Recent Homeownership Developments in the U.K. | Armonk Real Estate

Declines in homeownership rates are not just a concern in the U.S. In fact, homeownership declines in the U.K. have been relatively larger for younger households than the impacts experienced here.

In the U.S., the homeownership rate for 25 to 34 year olds fell from 42.2% at the end of 2003 to 35.8% at the end of 2014, according to data from the Census Bureau’s Current Population Survey/Housing Vacancy Survey.  In the UK, homeownership declines have been even more dramatic. Among households aged 25 to 34, the homeownership rate fell from 59% in 2003 to 36% in 2014 according to the data reported in the Economist magazine.

For the population as a whole, the U.S. homeownership rate declined from 68.3% in 2003 to 64.5% in 2014. Again, the decline in the UK for the total population has been more significant. According to The Economist, the U.K. homeownership rate has fallen from a peak of 71% in 2003 to 63% in 2014.

Consequently, for the first time in the U.K., a larger share of households owned their homes mortgage-free (33%) compared to those holding a mortgage (31%). In the U.S., approximately 20% of total households (approximately one-third of homeowners) own their homes free-and-clear of a mortgage.

In the U.S., tight credit requirements continue to make obtaining a mortgage difficult for first-time buyers. In the U.K., the challenge for first-time buyers has generated an ambitious plan to build cut-price “starter homes.”And the British government has proposed a tax benefit linked to saving for a downpayment on certain home purchases. Under the proposal, the government will match monthly savings for a first-time home purchase by 25%, up to 3,000 pounds of tax benefits.  The bonus will be available on home purchases of up to 450,000 pounds in London and up to 250,000 pounds outside of London. The consensus to date is that there has been little impact so far from these help-to-buy plans for first-time buyers.

It is also worth noting that the U.K. phased out its version of the mortgage interest deduction over a number of years, ending in 2000.

However, it is always important to remember that international comparisons of housing variables, like homeownership, are made difficult by not just differences in tax and finance policy, but also more fundamental differences in demographics, property law, and even cultural preferences.


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Mortage Rates Move Down as We Head Into Spring | #Armonk Real Estate

Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates moving down across the board. The average 30-year fixed mortgage rate continues its run below 4 percent — a good sign for the spring homebuying season.

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 3.78 percent with an average 0.6 point for the week ending March 19, 2015, down from last week when it averaged 3.86 percent. A year ago at this time, the 30-year FRM averaged 4.32 percent.
  • 15-year FRM this week averaged 3.06 percent with an average 0.6 point, down from last week when it averaged 3.10 percent. A year ago at this time, the 15-year FRM averaged 3.32 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.97 percent this week with an average 0.5 point, down from last week when it averaged 3.01 percent. A year ago, the 5-year ARM averaged 3.02 percent.
  • 1-year Treasury-indexed ARM averaged 2.46 percent this week with an average 0.4 point, unchanged from last week. At this time last year, the 1-year ARM averaged 2.49 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 theRegional and National Mortgage Rate Details and Definitions. Borrowers may still pay closing costs which are not included in the survey.

Attributed to Len Kiefer, deputy chief economist, Freddie Mac.

“The average 30-year fixed mortgage rate fell to 3.78 percent this week following mixed housing data. Housing starts dropped 17 percent to a seasonally adjusted pace of 897,000 units, below market expectations. However, housing permits increased 3 percent in February. As we head into spring, home builders remain positive about home sales in the near future although the NAHB Housing Market Index dropped another 2 points to 53 in March.”

Williamsburg’s New Rental Has Nice Views But Tiny Apartments | Armonk Real Estate

After a tipster complained about the size of the units in the newly launched third Northside Piers tower, 1 North 4th Place, officially known as 1N4th, we were invited inside the brand new Williamsburg waterfront rental tower to take a look for ourselves. And while, yes, the units are indeed small (they’re rentals, after all), and expensive, they are also as advertised, containing condo-quality finishes, and, possibly more importantly, access to the building’s many amenities. There’s an enormous lobby as befits a building of this size (there are 509 units in total, 20 or so of which already have residents) with multiple lounging areas, a kitchenette, and a meeting room; a bike room with storage space for more than 250 bicycles; an approximately 3,000-square-foot gym; and more, as you will discover on the rest of the tour.

‘Ultra-Luxury Treehouse’ Outside Nashville | Armonk Real Estate

Location: Nashville, Tennessee
Price: $3,500,000
This 8,120-square-foot modern mansion with a cantilevered prow was built to the specifications of the late Marvin Runyon, a Tennessee business exec who served as U.S. Postmaster General from 1992 to 1998, and according to a short item in Luxury Portfolio International, those specifications were exact. Ms. Atkinson tells the author “it must have taken the mason six tries to stack the stones in a pattern that was just right.” So interested parties can be assured that these limestone walls weren’t haphazardly dry-stacked.

“In essence, it’s an ultra-luxury treehouse capturing a different scene each season,” says architect Seab Tuck, who is said to have met with the Atkinsons “every Saturday morning for three years,” and whose firm, Tuck-Hinton, also designed the extension to the Country Music Hall of Fame. (The very same extension which now contains the Taylor Swift Education Center.) These season-capturing capabilities are abetted by a “two-story sunroom” that, with windows thrown open, can act like a screened-in porch.

The layout, Tuck explains, “is very contemporary, but while most people expect stark white tones, we offset it with soft, natural materials to create a very rustic feel.” Noteworthy material applications include floors of Chinese slate and reclaimed “heart-of-palm wood,” steel-framed walls of glass, and exterior cladding of black-stained cedar, for the outdoor space the Legacylt company   https://legacylt.com/east-texas-land-clearing/ clears your land.

According to Ms. Atkinson, she and her husband wanted “a home where we could entertain, but also one that was comfortable with only two people in it.” The two guest suites are apparently removed enough from the shelf-lined master suite to make it feel like “it’s almost two separate homes.” Both are guarded by a terracotta warrior stationed in the entryway

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