Tag Archives: Chappaqua NY Homes

Chappaqua NY Homes

Housing market looking positive | Chappaqua Real Estate

Nationwide’s Health of Housing Markets Report

Select a quarter and then press “Play” to initiate the interactive map. To get the performance ranking for a specific MSA, zoom in or scroll over the map or click on the numerical ranking legend for wider comparisons.N

2019Q2 HoHM Report: Housing market looking more sustainable

  • While home sales data have been a bit slower so far in 2019, the national LIHHM* sees positive, more sustainable trends from the housing sector. With the highest reading in three years, the index points to healthy housing activity over the next year or so.
  • Slower house price gains are improving housing sector sustainability, while reduced mortgage rates, solid job gains, and rising wages should lift home buyer demand this year. Although supply constraints remain, these fundamentals are positive for housing demand
  • More than half of the country’s 400 MSAs have a positive rating as house price gains in many areas have decelerated over the past year. The slowdown is more pronounced in larger cities, especially along the Pacific Coast where price appreciation is now below average.
  • Existing home sales dropped during 2018 as rising mortgage rates squeezed potential home buyers. Data show that the declines were sharper in states with the highest median sales prices. The outlook for the remainder of 2019 has improved with lower mortgage rates
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* Leading Index of Healthy Housing Markets (LIHHM): A data-driven view of the near-term performance of housing markets based upon current health indicators for the national housing market and 400 metropolitan statistical areas (MSAs) and divisions across the country.

Housing outlook continues to brighten with the LIHHM in positive territory

The national LIHHM rose to a positive reading of 106.3 this quarter, the highest reading in three years. Demand metrics (led by solid job growth and strong household formations) remain highly positive and are indicative of near term health for the housing market. National house price growth continues to decelerate and is near the long-term trend, a positive for sector sustainability. Home buyer demand should respond positively to lower mortgage rates and faster income growth, although continued supply constraints are likely to cap any sales gains. Regionally, more than half of the LIHHM performance rankings are positive and indicate a healthy outlook for housing in those local markets. Demand factors at a regional level are generally supportive with low unemployment rates and faster household formations. Moreover, housing affordability is improving in many local areas as income growth outpaces house price gains while mortgage financing costs have declined.

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How the U.S. residential real estate market could take a major hit from the trade war | Chappaqua Real Estate

Chinese investors have been the biggest purchasers of U.S. residential real estate for six consecutive years, but President Trump’s trade war, and China’s efforts to reduce its national debt and boost economic growth, could change that.

And if the impasse continues, the effects could be even more far-reaching. “The Chinese government could place stricter capital controls about taking money out of China and buying in America,” said Lawrence Yun, chief economist at the National Association of Realtors. China’s government has already put pressure on Chinese nationals to reduce their commercial real-estate investments.Meanwhile, the U.S.-China trade dispute has sent the Chinese yuanUSDCNH, -0.0029%to new lows relative to the dollar. “It’s already making U.S. real estate more expensive” for Chinese buyers, said Michael Fratantoni, chief economist at the Mortgage Bankers Association.

The trade war also adds to U.S. economic uncertainty at a time when real-estate demand is weakening even in some of the country’s hottest housing markets.

China has become the largest foreign buyer of U.S. residential real estate

In 2014, China supplanted Canada as the source of the largest share of foreign buyers of U.S. residential real estate, according to data from the National Association of Realtors.

In 2018 dollars, Chinese buyers accounted for roughly 25% of total foreign investment in U.S. residential real estate. Canada was No. 2 at 9%.

Of the 284,000 properties sold to foreign buyers last year, some 40,400, or 15%, were bought by Chinese nationals. Five years earlier, Chinese nationals had purchased 23,075 homes, representing just 12% of all properties sold to foreign buyers.

Even China’s growing share in recent years represents a small percentage of overall investment in U.S. residential real estate. As of 2018, foreign buyers in aggregate accounted for just 3% of U.S. home sales, the association added. That figure had been rising, but experienced a modest decline between 2017 and 2018. The figures for 2019 are expected to be similar to the 2018 levels.Long before the current trade dispute, the Chinese government had been creating hurdles for its citizens who wanted to invest abroad. The country started restricting outbound investments in 2016, allowing residents to take only the equivalent of $50,000 out of the country, as a means of propping up the country’s currency. This not only made it more difficult to purchase real estate in America but prompted some Chinese investors to sell their U.S. assets.

A Chinese pullback could have serious effects for some West Coast markets

Unlike foreign buyers from other countries who spread their investments more evenly across the U.S., Chinese residential real-estate investment is highly concentrated on the Pacific Coast. Nearly 40% of Chinese buyers have purchased in California, home to a large Asian community.

But California isn’t the only place where a fall in Chinese buyers would make a difference. Chinese nationals represent a significant share of the foreign buyers of residential real estate in the New York City metropolitan area and growing shares of buyers in states including Florida and Texas.

Chinese buyers also play a big role in the residential-real-estate markets of college towns, as more Chinese students have opted to study at American universities, Yun said.

However, a retreat by Chinese buyers could be good news for Americans looking to purchase a home, especially in such costly Golden State markets as San Francisco, Los Angeles and San Diego. These are among the most expensive in the entire country, and their popularity had contributed to double-digit home-price appreciation in recent years.

The rate at which home prices are climbing has recently slowed as buyers have struggled with affordability. The lack of competition from foreign buyers, who typically enter competitive all-cash offers, could provide an opportunity to get a better deal on a home for locals looking to buy.

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Americans favor owning over renting | Chappaqua Real Estate

close up neighborhood houses

With a homeownership rate of 64.2%, it’s safe to say the American dream of homeownership is alive and well. However, lackluster growth in the sector suggests the market might be turning, especially as affordability remains a top concern.

In a recent analysis, LendingTree surveyed 2,095 American homeowners aged 22 and older about their perceptions of owning a property versus renting.

According to the company’s study, 67% of American homeowners believe owning a home is a better option than renting. However, LendingTree discovered that for many American homeowners, renting is still a viable option.

“About 15% of homeowners believe renting is easier than owning a home, and another 18% are neutral on the topic,” LendingTree writes. “Just 13% of homeowners across all ages wish they could go back to renting, but when broken down by age, 1 out of every 5 homeowners ages 22 to 37 say they miss renting.”

Interestingly, LendingTree says this breakdown is highly dependent on the number of years a homeowner has lived in their home.

“In most cases, the longer that survey respondents have been in their homes, the more likely they are to believe owning is easier,” LendingTree writes. “That changes for those who have owned for a decade or longer. Nearly 72% of homeowners who have spent seven to nine years in their home agree with the statement, compared with 65% of those with at least 10 years in their home.”

Additionally, the report found that age also plays a major role in homeowner satisfaction.

According to the study, 23% of Gen Xers claimed to be dissatisfied with their home purchases, this was followed by 21% of Millennials who expressed the same sentiment.

When it came to Baby Boomers and those aged 73 and older, LendingTree reports that only 14% and 3% held the same regrets, respectively.

Overall, the study revealed that homeownership tenure is a tremendous indication of whether or not a person is likely to return to the rental market. 

“Our survey found that the longer you own your home, the less likely you’ll want to rent again,” LendingTree writes. “Only 7% of respondents who have owned their home for at least 10 years wish they could go back to renting, compared with 19% of those who have owned for three years or less.”

The image below highlights the percentage of Americans who wish to return to renting after owning a home:

(Click to enlarge

LendingTree: Return to Renting

Note: LendingTree commissioned Qualtrics to collect the responses of 2,095 American homeowners aged 22 and older from the dates of March 22-27, 2019.

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https://www.housingwire.com/articles/48981-americans-still-favor-owning-over-renting-but-for-how-long?utm_campaign=Newsletter%20-%20HousingWire%20Daily&utm_source=hs_email&utm_medium=email&utm_content=72449673&_hsenc=p2ANqtz-_wf5nhkg1FFSaVfcLLsDAq-vSfamUsKWH6fYQFizfFvEM3FO4rbfwKPtMxpuPxnlua16i-cB9BPHu8neekjPxwT8280A&_hsmi=72449673

Best kitchen paint colors | Chappaqua Real Estate

If you want to paint your kitchen hot pink or mint green, that’s totally up to you (and, by the way, that would make for a pretty fab conversation-starting space!) However, if you ask real estate agents, they’ve got definite opinions on colorways for this all too important room in the house. (They also know that painting your kitchen certain colors, like brick or barn red, can actually devalue your home to the tune for more than $2,000, says a recent Zillow study!) Read on for their take on the best color palette for your kitchen:

Go for neutral and modern colors

“I work with a stager who uses Gray Mist and Edgecomb Gray, both Benjamin Moore paints, and people always asks what colors these are,” says Maria Daou of Warburg Realty in New York City. “They’re both soft colors that really look great in all types of light.”

When in doubt, stay uniform

“Unless you have nine-foot-plus ceiling heights, I would suggest you keep the kitchen walls and ceilings the same color,” says Robin Kencel of Compass Real Estate in Greenwich, Connecticut. She recommends keeping your kitchen white, and, if you’re on a budget, opting for Benjamin Moore’s Simply White, described as ‘reminiscent of the first snowfall.’

“This will end up creating an enveloping feeling and a sense of harmony in the space,” Kencel says.

But consider the power of contrasting color

“I love the look of white cabinets with a touch of gray,” says Peggy Dahan, of Siderow Residential Group in New York City. “I always suggest keeping it simple and easy to match when it comes to color. Another great way to contrast those white cabinets? Wood floors or tile floors that resemble wood. I’ve noticed that those are a big hit these days.”

If you want something a little more funky, consider contrasting top and bottom cabinets. Zillow’s 2018 Paint Color analysis found that these “tuxedo” kitchens (top and bottom cabinets painted with dark and light colors), were found to sell at a $1,500 premium.

Show off your stainless appliances

“For those with stainless appliances, a white kitchen looks great and there’s a huge demand for that palette,” says Lewis Friedman, of the Friedman Team at Compass Real Estate in New York City. “We often have clients paint cabinets and walls white, and Chantilly Lace by Benjamin Moore is a favorite.”

Brighten a dark kitchen

You might have gotten the gist that homebuyers often like white kitchens as they make things seem bigger. But you don’t have to paint your kitchen white for a spacious feel.

“While white cabinets and subway tiles have become practically de rigueur for everything, it’s become boring,” says Marie Bromberg of Compass Real Estate in New York City. Her antidote? Thinking light, like light wood and natural finishes and customizations.

“I painted my own walls Gentleman’s Grey by Benjamin Moore,” she says. “It keeps all of my kitchen’s secrets and doesn’t require that much maintenance.”

Thinking of doing a couple of other updates to your kitchen? Here, the best kitchen updates to increase your home’s value, for every budget.

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https://www.apartmenttherapy.com/realtor-recommended-kitchen-colors-to-boost-home-value-268464?utm_source=at_daily&utm_medium=email&utm_campaign=04082019

Con Ed wants 6% electric rate increase in Westchester | Chappaqua Real Estate

Con Edison has requested a rate increase that, if approved, could have Westchester County customers paying about 6 percent more for electricity each month.

The company filed a rate request with the New York State Public Service Commission Jan. 31, seeking approval for rate requests totaling $695 million for the company’s electric and natural gas delivery systems. The increase would go into effect in 2020.

Con Edison
The utility’s Westchester headquarters in Rye. Photo by Ryan Deffenbaugh

Con Edison supplies natural gas to 1.1 million customers and electricity to 3.4 million customers in New York City and Westchester.

With the increase, the bill for a residential costumer in Westchester using 300 kilowatt hours would rise $6.10, to an average of $114.04 per month. The average monthly bill for a New York City customer for the same usage would increase $4.45, to $81.78. For a typical commercial customer in the region, the monthly bill would increase $80.96 to $1,970.67, an increase of 4.3 percent.

The average monthly bill for a residential gas customer, using on average 100 therms per month, would increase $17.28 to $176.34, according to Con Edison, an increase of 10.9 percent.

The utility said the rate increase would fund infrastructure improvements and other investments in clean energy, energy savings and customer service.

“Our proposal will build on the progress we have made in putting tools in the hands of our customers to help them manage their energy usage,” Con Edison President Timothy Cawley said. “We’re making it easier for them to take advantage of energy efficiency, charge electric vehicles and communicate with us. We’re also improving our response to severe weather events and taking steps to protect the environment.”

Through a rate case proceeding, the state Public Service Commission will render a decision on how much the utility can raise rates. The state is required to provide a decision within 11 months.

“Our number one priority is ensuring utility rates are fair and reasonable, and we will not allow a multibillion-dollar utility to line shareholders’ pockets at the expense of ratepayers,” state Department of Public Service spokesman James Denn said. “Today, Con Edison is seeking a rate increase, but to be crystal clear, one has not been approved.”

The state has assembled what it said is a panel of 50 experts to review the rate filing. The process also allows for public comment, which often draws from industry groups, consumer advocates and large-scale electricity and gas users.

The utility last sought a rate increase in 2016. The company asked the state to approve  an electric increase of $482 million and a gas increase of $154 million. After a joint-agreement involving 22-separate parties, the PSC authorized a three-year rate plan in 2017 that allowed for annual electric increases of $199 million, and a gas increase of $35.5 million in year one, $92.3 million in year two and $89.5 million in year three. The decision, according to the PSC, included measures to boost the availability of energy efficiency and smart-grid technologies.

While Con Edison’s proposal is for 2020, the company indicated in its announcement that it intends to discuss multiyear rate plans with the PSC. A multiyear plan, the company said, could result in lower annual increases and provide more cost certainty. It also agreed to a two-year rate plan in its 2014 rate case.

Among the efforts Con Edison said it would fund with the rate increase is its $100 million plan to increase the storm resiliency in Westchester. The four-year plan would strengthen the county’s overhead electric system. The company announced the plan last year amid public pressure from elected officials after a series of snow storms in March caused some of the most significant outages in company history.

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Climate change tax on real estate in Massachusetts | Chappaqua Real Estate

The plan marks one of Governor Charlie Baker’s most high-profile bids to address climate resiliency as he begins his second term.
The plan marks one of Governor Charlie Baker’s most high-profile bids to address climate resiliency as he begins his second term.

Governor Charlie Baker, a Republican who once campaigned against raising taxes, unveiled a proposal Friday to hike the tax on Massachusetts real estate transfers by 50 percent, and funnel the more than $1 billion it could generate in the next decade into steeling cities and towns against the effects of climate change.

The plan, which Baker intends to include in his state budget proposal on Wednesday, marks one of his most high-profile bids to address climate resiliency as he begins his second term.

But it’s also expected to face heavy resistance within real estate circles, where trade groups warn a tax hike could exacerbate the region’s already steep housing costs.

Baker’s proposed tax increase would add nearly $1,200 in taxes to the sale of a $500,000 home, with those costs paid by the seller.Get Metro Headlines in your inbox:The 10 top local news stories from metro Boston and around New England delivered daily.Sign Up

Baker said the increase to the so-called deeds excise rate could generate anywhere from $130 million to $150 million annually toward a Global Warming Solutions Trust Fund, which cities and towns could then tap through grants, loans, and other avenues for local projects. That could include modernizing public buildings, fortifying sea walls, or improving drainage and flood control methods, depending on a city or town’s needs.

“This is an excise tax that’s basically about property. And the proposal we’re making here is to protect property,” Baker told reporters after unveiling the contours of the plan to hundreds of local officials at the Massachusetts Municipal Association’s annual meeting.

“We think in the long run, the cost benefit on this one is a good deal for Massachusetts residents,” Baker said.

The tax increase, which would need legislative approval, could mean hundreds, if not thousands, more dollars borne by those unloading their homes.

Under current law, a home seller in most parts of the state pays $4.56 in transfer taxes per $1,000 of a purchase price. That means for a $500,000 home sale, a seller pays a $2,280 tax bill. If Baker’s proposal passes, the transfer tax rate would jump to $6.84 per $1,000, meaning for the same $500,000 sale, the tax bill balloons to $3,420.

On Cape Cod, where the excise tax is lower than the rest of the state, the increase is actually more dramatic under Baker’s proposal. The $3.42 per $1,000 of a purchase price home sellers currently pay would jump by 67 percent to $5.70.

As a candidate in 2014, Baker continually opposed tax and fee increases, later allowing that if the state offered a new service and attached a fee to it, he didn’t think he would be breaking his commitment. En route to winning reelection last fall, he reiterated that he is against broad-based tax increases for the sake of “balancing the budget.”

During four-plus years in office, he has signed a number of new fees and taxes into law, including an assessment to help cover the cost of the state’s Medicaid program and an estimated $800 million payroll tax, split between employers and employees, that goes into effect in July to pay for a new paid family and medical leave program. Baker also signed off on a new $2 surcharge on car rental transactions to raise up to $10 million toward training for local police.

Baker defended his pursuit of the tax hike in the new climate change proposal. “There’s no program in Massachusetts that’s going to put a billion dollars on the table to put the kind of resiliency programming in place that we’re going to need to deal with the intensity and the frequency of storms,” he said.

His administration, however, also noted that it has already invested $600 million in programs targeting the effects of climate change.

The proposal is the second major climate-change-focused initiative Baker has touted since winning reelection. Last month, Massachusetts and eight other states announced a landmark agreement to create a system to impose regionwide limits on transportation emissions, the nation’s largest source of carbon pollution.

Within hours, the plan was drawing resistance from the real estate industry. Tamara Small, chief executive of NAIOP Massachusetts, the powerful trade group for commercial real estate, questioned tying the fund to property sales.

“When we have a market downturn, which I think is not far down the road . . . that could affect the amount of money that could be raised,” Small said. “When you’re talking about a 50 percent increase, there’s no doubt that for someone who is trying to sell their home, that’s going to increase prices. That’s going to have an impact.”

The Massachusetts Association of Realtors, which opposes the increase, said efforts to support climate resiliency shouldn’t target only those looking to sell property, said Justin Davidson, the group’s general counsel.

“This proposal would quite frankly increase the cost of housing in Massachusetts,” he said. “We’ll be reaching out to legislators to let them know about our position.”

Baker is likely to have powerful support, too. The plan received a “very positive response” from local officials at their annual meeting, according to Geoffrey Beckwith, the Massachusetts Municipal Association’s executive director, who called it a “common sense funding solution.”

“There’s a direct connection between what cities and towns have to do, and the proposal the governor made,” Beckwith said.

Environmental groups, who have been critical of Baker before, offered cautious praise Friday for this proposal, noting they’re still waiting to see all of the details.

“I think it’s a great signal that he intends to take climate change and climate resilience and adaptation seriously,” said Elizabeth Turnbull Henry, president of the Environmental League of Massachusetts. “Massachusetts has 1,500 miles of coastline. The time is now to be thinking about how we’re going to pay for the investments that we need to protect ourselves.”

Bradley Campbell, president of the Conservation Law Foundation, said he was encouraged by Baker’s plan, but called the money it could raise “modest” compared to the projected need.

“Ultimately, I think there will be a need to look at multiple revenue sources to assure that the cost burden of climate risk is allocated in a fair and equitable way,” he said. “This proposal provides a solid start to that dialogue.”

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https://www.bostonglobe.com/metro/2019/01/18/baker-proposes-percent-tax-hike-real-estate-sales-pay-for-local-climate-change-projects/1M59Xd7ij90ILDpWwW2j4O/story.html

Mortgage rates average 4.45% | Chappaqua Real Estate

Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that the 30-year fixed-rate mortgage remained unchanged for the third consecutive week. 

Sam Khater, Freddie Mac’s chief economist, says, “Mortgage rates have stabilized during the last month and are essentially at the same level as last spring – yet the most recent home sales are roughly half a million lower over the same period. Given that the economy remains on solid footing and weekly mortgage purchase application activity has been strong so far in 2019, we expect the decline in home sales to moderate or even reverse over the next couple of months.”

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 4.45 percent with an average 0.4 point for the week ending January 24, 2019, unchanged from last week. A year ago at this time, the 30-year FRM averaged 4.15 percent. 
  • 15-year FRM this week averaged 3.88 percent with an average 0.4 point, unchanged from last week. A year ago at this time, the 15-year FRM averaged 3.62 percent. 
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.90 percent with an average 0.3 point, up from last week when it averaged 3.87 percent. A year ago at this time, the 5-year ARM averaged 3.52 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 link for the Definitions. Borrowers may still pay closing costs which are not included in the survey.

Higher mortgage rates slow real estate purchases | Chappaqua Real Estate

Information compiled by Freddie Mac shows that mortgage rates continued to increase in the fall. The 30-year FRM – Commitment rate, inched up by four basis points to 4.87 percent from 4.83 percent in October. With the November increase, the 30-year FRM – Commitment rate, was at the highest level since February 2011. As a result of rising home costs, builder confidence in the market for newly-built single-family homes fell four points to 56 in December and affordability was at the lowest level in a decade.

The Federal Housing Finance Agency reported that the contract rate for newly-built homes, inched up 10 basis points to 4.77 percent in November. Mortgage rates on purchases of newly built homes (MIRS) increased by 11 basis points over the month of November to 4.86 percent.

After increasing the federal funds rate to 2.25 percent to 2.50 percent at the December Federal Open Market Committee meeting, the Fed remains cautiously on track to continue its gradual approach to raising interest rates with one or two possible rate hikes in 2019.

Moreover, the 10-year Treasury rate fell from above 3.21% at the start of November to 2.7% at the start of January. This decline will reduce mortgage interest rates. The average market rate, according to Freddie Mac, was 4.51% at the start of January.

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Pre-fabs for all budgets | Chappaqua Real Estate

Once regarded as uninspiring look-alikes with no personality or pizazz, modular homes can now be found in just about any configuration you can imagine, and at just about any price point. Not only that, modular homes have become incredibly of the moment, incorporating modern design and sustainable practices for maximum efficiency.

The problem is, many potential buyers don’t know much about modular homes. That’s why we’re here to clear up any confusion—after all, modular homes make great dwellings for today’s modern families looking for energy-efficient and affordable options. 

NEWSLETTERJoin the Prefab Homes Mailing ListSign up for Prefabs Newsletter

Exterior, Flat RoofLine, Wood Siding Material, House Building Type, and Prefab Building Type Based in New York City, Cocoon9 takes a unique approach to prefab homes, offering a line of tiny homes with high-quality construction and finishes, smart technology, energy efficiencies, and versatile spaces that are ready for the modern market. Their models start at 160 square feet and go up to 480. Although design and production of each prefab takes about four weeks, on site installation typically takes under one week to complete.
Based in New York City, Cocoon9 takes a unique approach to prefab homes, offering a line of tiny homes with high-quality construction and finishes, smart technology, energy efficiencies, and versatile spaces that are ready for the modern market. Their models start at 160 square feet and go up to 480. Although design and production of each prefab takes about four weeks, on site installation typically takes under one week to complete.

Modular homes are built as several large pieces in climate-controlled indoor factories, then pieced together at the site the homeowner has chosen. During construction, modular homes are subject to extremely rigorous quality control standards. The truth is, modular homes are just as—if not more so—sturdy as stick-built homes that are constructed fully on site. Today’s modular homes are made to withstand wind speeds up to 180 miles per hour.  

Are modular homes less expensive than regular homes, and by how much? You’ll be glad to know that another major benefit of prefab homes is that they are generally less expensive than stick-built homes; choosing a modular design can save as much as 15 to 30 percent over traditional homes. Most of that savings is reflected in the much shorter build time. 

Since they are constructed in indoor factories on assembly lines, modular homes are much less labor intensive than traditional, stick-built homes. Be aware, however, that the price you’re quoted for a prefab home often won’t include additional costs like land, permits, site work, customization, and transportation. 

Here, we’ve rounded up a sample of modular homes at a variety of different price points for every budget. The modular home prices featured here are just for the homes. Additional costs mentioned above will apply. 

Modular Homes Under $200K 

No matter where you live across the United States (and even worldwide), you shouldn’t have any trouble finding modular homes under $200,000. Given that modular homes are often cost-effective choices, the modular homes under $200,000 that we’ve included are spacious with lots of stylish customizations.

FUSE Series by IdeaBox – Oregon

Price: $188,000 

Exterior, Shed RoofLine, Metal Roof Material, Prefab Building Type, and Wood Siding Material Constructed with durable Montana timber, corrugated metal roofing, and energy-efficient windows, the FUSE 2 by Ideabox is a 1,360-square-foot modular home.
Constructed with durable Montana timber, corrugated metal roofing, and energy-efficient windows, the FUSE 2 by Ideabox is a 1,360-square-foot modular home.
IdeaBox expertly makes small spaces seem much larger with seamless views of the outdoors, 8-foot ceilings, tall windows, and light, airy interiors. These features make the FUSE series a popular option for modular homes under $200K.
IdeaBox expertly makes small spaces seem much larger with seamless views of the outdoors, 8-foot ceilings, tall windows, and light, airy interiors. These features make the FUSE series a popular option for modular homes under $200K.

Ma Modular – Texas

Price: varies by location 

At 550 square feet, Ma Modular’s "Grand Ma" model is one of the larger modular homes under $200K on our list. Prices vary—modular home prices in Texas for this model are $225 per square foot, bringing the Grand Ma to about $124,000. Modular home prices in Pennsylvania for the same model are somewhat less, at $118,000. Finally, to own the Grand Ma in Florida, you’ll pay about $107,000.
At 550 square feet, Ma Modular’s “Grand Ma” model is one of the larger modular homes under $200K on our list. Prices vary—modular home prices in Texas for this model are $225 per square foot, bringing the Grand Ma to about $124,000. Modular home prices in Pennsylvania for the same model are somewhat less, at $118,000. Finally, to own the Grand Ma in Florida, you’ll pay about $107,000.

Brightbuilt Barn – Maine

Price: starting at $160,000

Kitchen, Undermount Sink, Cooktops, Refrigerator, Track Lighting, Light Hardwood Floor, Laminate Counter, Wood Cabinet, Dishwasher, and Wood Backsplashe Despite the small size, Brightbuilt Homes’ modular homes under $200K are tastefully designed with modern touches, like light-toned hardwood floors and stainless-steel appliances.
Despite the small size, Brightbuilt Homes’ modular homes under $200K are tastefully designed with modern touches, like light-toned hardwood floors and stainless-steel appliances.
Exterior, Cabin Building Type, Prefab Building Type, Gable RoofLine, and Wood Siding Material Brightbuilt Homes has been constructing beautiful modular homes in Maine since 2005. Modular home prices in Maine reflect the somewhat more expensive Northeast market: this tiny but tasteful, fully customized, net-zero energy barn runs about $280 per square foot.
Brightbuilt Homes has been constructing beautiful modular homes in Maine since 2005. Modular home prices in Maine reflect the somewhat more expensive Northeast market: this tiny but tasteful, fully customized, net-zero energy barn runs about $280 per square foot.

Modular Homes Under $100K 

The modular homes under $100,000 on our list don’t scrimp on high-quality materials and stylish accents. At this price point, choices abound, so be sure to find the model that speaks to your individual taste.

K6 Series by KitHaus – California

Price: starting at $80,000

Exterior, Metal Roof Material, Wood Siding Material, Flat RoofLine, Glass Siding Material, and Prefab Building Type The handsome K6 Series, one of KitHaus’ largest models, offers modular homes under $100K. These can be customized to include an Ipe deck and hardwood siding, as well as corrugated roofing. All KitHaus frames are lightweight but durable, made with M.H.S.** structural anodized aluminum framing. 
The handsome K6 Series, one of KitHaus’ largest models, offers modular homes under $100K. These can be customized to include an Ipe deck and hardwood siding, as well as corrugated roofing. All KitHaus frames are lightweight but durable, made with M.H.S.** structural anodized aluminum framing. 
Exterior, Flat RoofLine, Wood Siding Material, and Prefab Building Type Modular home prices in Pennsylvania tend to be lower than in California or New York. But most pricing variations come down to external factors, such as land, customizations, transportation, and zoning costs. KitHaus serves many markets across the U.S., so final pricing may vary.
Modular home prices in Pennsylvania tend to be lower than in California or New York. But most pricing variations come down to external factors, such as land, customizations, transportation, and zoning costs. KitHaus serves many markets across the U.S., so final pricing may vary.
KitHaus modular homes offer modern touches, like sleek, angular designs and vanities made of timber.
KitHaus modular homes offer modern touches, like sleek, angular designs and vanities made of timber.

M.05 Studio by Honomobo – California

Price: $98,000 

Exterior, Prefab Building Type, Glass Siding Material, and Flat RoofLine One of the most popular models of modular homes under $100K, the M.05 Studio by Honomobo offers small-space living with a unique twist; all of Honomobo’s beautiful homes are made out of shipping containers. The M Studio is a 200-square-foot modular home made of extremely durable Cor-Ten steel, which is made to withstand the harshest weather conditions.
One of the most popular models of modular homes under $100K, the M.05 Studio by Honomobo offers small-space living with a unique twist; all of Honomobo’s beautiful homes are made out of shipping containers. The M Studio is a 200-square-foot modular home made of extremely durable Cor-Ten steel, which is made to withstand the harshest weather conditions.
Offering a truly seamless indoor/outdoor experience with floor-to-ceiling windows, the M Studio, like all Honomobo models, can be customized with a variety of upgrades, like this high-gloss white cabinetry and premium countertop.
Offering a truly seamless indoor/outdoor experience with floor-to-ceiling windows, the M Studio, like all Honomobo models, can be customized with a variety of upgrades, like this high-gloss white cabinetry and premium countertop.

Steel Homes Tulip Model – Florida

Price: $80,000 

Steel Homes, a Florida–based modular home company, faces a unique problem: how to design and build a modular home that can withstand the frequent hurricanes the state sees. That’s why these modular homes under $100K use light-gauge steel. The high strength-to-weight ratio maximizes building design flexibility and provides rigid structural integrity. Modular home prices in Florida are comparatively cheaper than in markets like California, New England, and D.C. At 1,010 square feet, the Tulip is Steel Homes’ smallest model, with a price tag right around $80,000.
Steel Homes, a Florida–based modular home company, faces a unique problem: how to design and build a modular home that can withstand the frequent hurricanes the state sees. That’s why these modular homes under $100K use light-gauge steel. The high strength-to-weight ratio maximizes building design flexibility and provides rigid structural integrity. Modular home prices in Florida are comparatively cheaper than in markets like California, New England, and D.C. At 1,010 square feet, the Tulip is Steel Homes’ smallest model, with a price tag right around $80,000.

Modular Homes Under $75K 

Go big on style and small on size with our selection of modular homes under $75,000. Though these modular homes may have less square footage, they make innovative use of the space. 

Wings Laneway LW596 by Jenesys Buildings – Canada

Price: $42,000 (shell package only) 

Based out of Canada, Jenesys Buildings offers three different designs of "Laneway" houses. The Wings model is an attractive, contemporary design, with an angled roof, modern finishes, and cladding. It’s a great option to consider if you’re looking for modular homes under $75K.
Based out of Canada, Jenesys Buildings offers three different designs of “Laneway” houses. The Wings model is an attractive, contemporary design, with an angled roof, modern finishes, and cladding. It’s a great option to consider if you’re looking for modular homes under $75K.

Minim Homes – Pennsylvania

Price: $70,000 

Exterior, Wood Siding Material, Flat RoofLine, Metal Roof Material, and Prefab Building Type Minim Homes are wrapped in beautiful, shiplapped cyprus that will gently age to grey. And a 960-watt solar array on the roof can be battery powered, allowing the home to be completely off-grid if desired.
Minim Homes are wrapped in beautiful, shiplapped cyprus that will gently age to grey. And a 960-watt solar array on the roof can be battery powered, allowing the home to be completely off-grid if desired.
Living Room, Medium Hardwood Floor, Bookcase, Coffee Tables, Sofa, and Console Tables On the inside, genius design meets modern styling. Minim offers one of the most innovative modular homes under $75K. The company has won numerous American Institute of Architects awards for their incredibly space-conscious designs.
On the inside, genius design meets modern styling. Minim offers one of the most innovative modular homes under $75K. The company has won numerous American Institute of Architects awards for their incredibly space-conscious designs.

Modular Homes Under $50K 

If you’re looking for modular homes under $50,000, be sure to find a local prefab company to get the most bang for your buck. Steep transportation fees can make even the most affordable modular home prices rise quickly.

Nano by Unity Homes – New Hampshire

Price: $50,000 

Unity Homes, a well-known modular home company in New England, now offers a small home at an affordable price. It’s called the Nano, and at 477 square feet, it’s available for just $50,000. That lands this adorable, energy-efficient cottage on the lower side of modular home prices in Massachusetts and other states surrounding its factory in New Hampshire, where prices are typically much higher.
Unity Homes, a well-known modular home company in New England, now offers a small home at an affordable price. It’s called the Nano, and at 477 square feet, it’s available for just $50,000. That lands this adorable, energy-efficient cottage on the lower side of modular home prices in Massachusetts and other states surrounding its factory in New Hampshire, where prices are typically much higher.

Modular Homes Under $40K 

While it’s definitely possible to find modular homes under $40,000, you’ll find smaller spaces with few customizations. Still, we’ve included some can’t-miss models on our list of modular homes under $40,000.

Bonsai by Bamboo Living – Hawaii

Price: Starting at $17,980 

The Bonsai tiny home is one of Bamboo Living's many homes that use timber-grade structural bamboo as a building material. These innovative modular homes under $40K use bamboo-framed exterior wall panels, which are now available as single-wall (for warm climates) or double-wall (for a wider range of temperatures). On the exterior, the Bonsai uses natural split bamboo siding. Based in Pahoa, Hawaii, the company seeks to protect and restore the planet by pioneering the use of timber-grade structural bamboo as a tree-free building material.
The Bonsai tiny home is one of Bamboo Living’s many homes that use timber-grade structural bamboo as a building material. These innovative modular homes under $40K use bamboo-framed exterior wall panels, which are now available as single-wall (for warm climates) or double-wall (for a wider range of temperatures). On the exterior, the Bonsai uses natural split bamboo siding. Based in Pahoa, Hawaii, the company seeks to protect and restore the planet by pioneering the use of timber-grade structural bamboo as a tree-free building material.

Casa Ti by Green Modern Kits – Virginia

Price: Starting at $30,000 

Designed by architect David Day and manufactured and constructed by Green Modern Kits, Casa Ti is a passive solar, one-story modern modular with a whopping 1,200 square feet and three bedrooms. That makes it one of the largest modular homes under $40K that we’ve seen.
Designed by architect David Day and manufactured and constructed by Green Modern Kits, Casa Ti is a passive solar, one-story modern modular with a whopping 1,200 square feet and three bedrooms. That makes it one of the largest modular homes under $40K that we’ve seen.
The net-zero, off-the-grid prototype is clad in SIPs (Structural Insulated Panels). Green Modern Kit homes come without anything included, and you’ll have to contract your own builder, but the kits are fully customizable.
The net-zero, off-the-grid prototype is clad in SIPs (Structural Insulated Panels). Green Modern Kit homes come without anything included, and you’ll have to contract your own builder, but the kits are fully customizable.

Modular Homes Under $10K 

For the most part, modular homes under $10,000 aren’t stand-alone living spaces, but rather add-on spaces. Consider these tiny spaces if you need an extra bedroom, a pool house, or a dedicated studio space.

K3 Series by Kithaus – California

Price: Starting at $8,000 for an outdoor shower and going up to $60,000 for a larger space with a lofted bed, bathroom, and kitchenette 

If you’re willing to sacrifice space for a super-low price tag in your search for modular homes under $10K, the K3 by KitHaus is an option. It’s adaptable as a backyard studio, home office, pool house, or play room, to name a few options. Its exterior is clad in corrugated galvalume or smooth, natural cement board with corrugated roofing, and floors are natural hardwood or finished plywood.
If you’re willing to sacrifice space for a super-low price tag in your search for modular homes under $10K, the K3 by KitHaus is an option. It’s adaptable as a backyard studio, home office, pool house, or play room, to name a few options. Its exterior is clad in corrugated galvalume or smooth, natural cement board with corrugated roofing, and floors are natural hardwood or finished plywood.

Oregon Timberwerks Cabin – Oregon

Price: $6,000 

From Oregon Timberwerks comes one of the lowest modular home prices we could find. These adorable log cabins make great options if you’re considering a (seriously) tiny home. They’re well insulated and fully weatherproof, constructed with solid wood and plywood. The floors are constructed of pressure treated lumber and exterior plywood, and the walls are covered with tapered lap siding over plywood sheathing and a vapor barrier. 
From Oregon Timberwerks comes one of the lowest modular home prices we could find. These adorable log cabins make great options if you’re considering a (seriously) tiny home. They’re well insulated and fully weatherproof, constructed with solid wood and plywood. The floors are constructed of pressure treated lumber and exterior plywood, and the walls are covered with tapered lap siding over plywood sheathing and a vapor barrier. 

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https://www.dwell.com/article/modular-home-prices-4f640bf9?utm_medium=email&utm_source=postup&utm_campaign=Contemporary,%20cool,%20and%20cost-effective.&list=1

Case Shiller prices up 5.8% | Chappaqua Real Estate

  • Nationally, prices rose 5.8 percent in August compared with August 2017, according to the S&P CoreLogic Case-Shiller home prices index. That is less than the 6 percent annual gain in July.
  • The index’s 10-City Composite rose 5.1 percent annually, down from 5.5 percent in the previous month. The 20-City Composite posted a 5.5 percent year-over-year gain, down from 5.9 percent in the previous month.
  • “Following reports that home sales are flat to down, price gains are beginning to moderate,” David M. Blitzer, managing director and chairman of the index committee at S&P Dow Jones Indices, said in a release.
GS: Real estate agent and prospective buyer in house 091001

A real estate agent shows a home for sale to a prospective buyer in Miami.Getty Images

Mortgage interest rates didn’t begin their recent surge until the start of September, but home prices were already feeling pressure, as fewer people could afford what was for sale.

Nationally, prices rose 5.8 percent in August compared with August 2017, according to the S&P CoreLogic Case-Shiller home prices index. That is less than the 6 percent annual gain in July.

The index’s 10-City Composite rose 5.1 percent annually, down from 5.5 percent in the previous month. The 20-City Composite posted a 5.5 percent year-over-year gain, down from 5.9 percent in the previous month.

“Following reports that home sales are flat to down, price gains are beginning to moderate,” David M. Blitzer, managing director and chairman of the index committee at S&P Dow Jones Indices, said in a release. “Rising prices may be pricing some potential home buyers out of the market, especially when combined with mortgage rates approaching 5 percent for 30-year fixed rate loans.”

WATCH NOWVIDEO00:46Pending home sales inch up

The jump in mortgage interest rates began at the start of September, but home sales were already slowing, as prices were just too high for some buyers, especially entry-level buyers. Home prices have been pushed higher over the past few years due to a critical shortage of homes for sale. Inventory, however, finally began to rise in August, and continues to gain this fall. Not only are there more listings, but fewer sales, so homes are sitting on the market longer.

The market is beginning to balance more between supply and demand, following one of the strongest seller’s markets in decades. There is little concern, however, that prices will actually fall, only that the gains will fall back to more normal, historical levels of 3 percent to 4 percent annually.

“There are no signs that the current weakness will become a repeat of the crisis, however. In 2006, when home prices peaked and then tumbled, mortgage default rates bottomed out and started a three year surge,” said Blitzer. “Today, the mortgage default rates reported by the S&P/Experian Consumer Credit Default Indices are stable. Without a collapse in housing finance like the one seen 12 years ago, a crash in home prices is unlikely.”

Even as the gains shrink, some local markets continue to show price strength. Las Vegas, San Francisco and Seattle saw the biggest annual gains among the 20-city index.

In August, Las Vegas home prices jumped 13.9 percent year-over-year, followed by San Francisco with a 10.6 percent increase and Seattle with a 9.6 percent gain. Four of the 20 cities reported greater price increases in the year ending August 2018 versus the year ending July 2018.

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https://www.cnbc.com/2018/10/30/home-price-gains-fall-below-6percent-for-the-first-time-in-a-year-august-sp-case-shiller-indices.html