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Katonah NY Homes

How Much Should Your Painting Project Cost? | Katonah Real Estate

A lot of factors play into the cost of a home painting project. The type of paint, the number of rooms, the siding material and the height of the house all have an impact. According to HomeAdvisor’s True Cost Guide, homeowners pay an average of $1,500 to $4,000 to have their home exteriors painted and $1,000 to $3,000 to have their entire home interior painted. So, how much will your project cost? And what factors do you have to consider?

When to Paint

Interior
Beyond apparent fading and wear, or simply changing up your style, there are a few parameters for how often interiors should be painted – and how frequently you should factor painting into your annual home improvement budget.

How Often to Paint Interior Rooms
Low-Activity Rooms
  • Bedrooms
  • Living Rooms
  • Dining Rooms
3-4 years
High-Activity Rooms
  • Kitchens
  • Bathrooms
  • Hallways
  • Laundry Rooms
5-7 years

Exterior
Climate and maintenance practices will determine how often you’ll need to paint your home. But the type of siding you have plays a major role.

How Often to Paint Home Exteriors
Cement Fiberboard 10-15 years
Aluminum 5-6 years
Stucco 5-6 years
Painted Brick 15-20 years
Wood (Paint) 3-7 years
Wood (Stain) 4 years

If you’re not sure it’s the right time, consult with a painting expert.

The best time of year to paint exteriors is in the late spring and during the summer—when the weather is warmer and dryer, for optimum application conditions.

DIY vs Hiring A Pro

If it’s within your budget, you’ll get the most out of your investment by hiring an expert for your painting project. Experienced painters can do the work in better time. Plus, they’ll have the equipment and training to perform the best preparation and application.

If you do hire a pro, be wary of low quotes. “The wording they’ll use a lot of times is: ‘We guarantee coverage,’” says Nick May, owner of Walls By Design in Denver, Colo. “And that just means they’re going to do one coat and touchups. So, really be sure the contractor spells out: ‘How many coats am I doing? How am I applying it?’”

If you’d prefer to save money and paint your home yourself, keep in mind that it’s easier and safer to paint your home interior yourself than it is to paint the exterior. There are many dangers associated with exterior work — especially on homes with multiple stories.

Interior Painting Costs
The typical cost of supplies is $200-$300 for one room, which includes tarps, ladders, tools and paint. If you hire an expert, you’re likely to pay $400-$800 per room or $1,000-$3,000 for the whole home.

Exterior Painting Costs
An average-sized house calls for 12 gallons of paint, which averages $400-$900. With supplies like extender poles and ladders, you’ll pay roughly $600 to $1,200 to paint your home’s exterior yourself. If you hire a painter or painting company, you’ll pay around $1,500 to $4,000. This price fluctuates according to the number of stories and the type of surface being painted. Painting a three-story home could cost over $5,000. And painting concrete or vinyl siding tends to cost less than painting wood or stucco.

“Paint is the least expensive thing you can get the biggest bang for in your house. You can spend $5,000 on a dining room set, or you can spend $5,000 on paint and redo your whole entire house.”– Nick May, Owner of Walls by Design in Denver, Colo.

Picking Paint

The quality and type of paint you choose can make all the difference in extending the life of your paint job. “Really understand your options,” says May. “Most paint companies make a good paint, but they also can sell a crappy paint. Some paints hide better; some paints perform better; some paints will touch up better.”

Interior Color and Finishes
Bedrooms are best in soothing colors like blue and green. Living rooms can be done in energizing colors like red or purple, but blue and beige are also good tones. And kitchens and bathrooms should be painted clean blues, grays, whites and neutrals. If you can’t decide, you can consult with an interior designer for advice. As far as finishes, semi-gloss has the best moisture resistance and is easy to clean — perfect for kitchens and bathrooms. And satin and eggshell are top sheens for bedrooms and living rooms.

Exterior Color and Materials
Beige comes out on top as the most popular and best color for exteriors, followed by similar neutrals, blues and grays. Mute and forest greens, as well as brick reds, are also good choices. Stay away from obnoxious yellows, oranges, and too-bright greens, blues and pinks. For finishes, satin is most commonly used on the entirety of the exterior. And a glossy finish works best on details like doors and window sashes.

If you’re struggling to choose a color for your painting project, look for a pro who offers color consulting among their services. “We know that’s one of the biggest barriers to entry for a homeowner when they’re painting their house,” says May. “So, we just made a decision, almost since the beginning, to have trained color designers that go out and work with customers.”

 

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How Much Should Your Painting Project Cost?

New home sales rise | Katonah Real Estate

New home sales increased in May, partially reversing the previous month’s decrease, according to the latest report from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.

Sales of new single-family homes in May increased to a seasonally adjusted annual rate of 610,000 home sales, the report showed. This is an increase of 2.9% from April’s 593,000 and is 8.9% above last year’s 560,000 sales.

Click to Enlarge

Home sales

(Source: HUD, U.S. Census Bureau)

The median sales price of new homes sold increased from last month’s $309,200 to $345,800 in May. The average sales price for new homes sold came in at $406,400 for the month.

The seasonally adjusted estimate of new homes for sale at the end of May came in at 268,000 homes, the same as the previous month. However, with the faster sales pace, this represents a 5.3-month supply, down from April’s 5.7 months.

 

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https://www.housingwire.com/articles/40507-new-home-sales-reverse-course-increase-in-may?eid=311691494&bid=1795724

Katonah village survey | Katonah Real Estate

KVIS Town Forum Survey 2017

1. How strong is the sense of community in Katonah?

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2. What new businesses or stores would you like to see in town?

3. To limit noise pollution, Maplewood, New Jersey recently passed an ordinance limiting the use of gas powered leaf blowers. Would you support a similiar ordinance?

4. What new events would you like to see in town?

5. How easy is it to find parking when you shop/dine in Katonah?

6. Speeding on area roads is frequently raised as a safety concern. Would you support the use of “speed cameras” as a method of enforcing speed limits?

7. How many years have you lived in Katonah?

8. How well are the streets and roads in Katonah maintained?

9. A group of residents has proposed the building of a bicycle pump track in Katonah Memorial Park which is currently being reviewed by the Parks Advisory Committee. Do you support this proposal?

10. Would you favor a ban of single-use, carryout plastic bags by retailers in the Katonah and at special events in town?

Cash Finances Smallest Share of New Home Sales Since 2010 | Katonah Real Estate

NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the Census Bureau reveals that just 4.7% of new home sales in the first quarter of 2017 were purchased with cash—down from the most recent peak of 9.5% in the fourth quarter of 2014. In contrast, the share of new home sales financed with conventional mortgages rose to 72.0%, its second-highest share since the fourth quarter of 2014. Meanwhile, FHA loan market share continued its upward trend, rising from14.4% to 14.7%.

Census data and NAHB calculations show that new home sales backed by VA products rose to 22,000 (+4,000) in the first quarter of 2017, though market share fell from 8.8% to 8.1%. The market share of VA loans averaged just 2.9% between the 2001 recession and the Great Recession, but has averaged 9.3% since the U.S. economy came out of recession in 2009.

It is worth adopting some caution associated with the Census market share estimates. In particular, the statistical error associated with the FHA, cash, and VA sales estimates from this data set are relatively high. This reduces the reliability of measures of short-term market changes.

Mindful of this limitation, over the long run the current FHA share is roughly one-half the 28% share determined for the first quarter of 2010 but still elevated compared to the 2002-2003 average of 10%.

Although cash sales make up a small portion of new home sales, they constitute a considerably larger share of existing home sales. In February 27% of existing home transactions were all-cash sales—the highest share since November 2015—according to estimates from the National Association of Realtors.

It is also worth noting that a different measure from CoreLogic shows a higher market share for cash sales for new construction: 17.7% in January.

FHA-backed loans were responsible for 14.7% of new home sales during the first quarter of 2017. Although the share has increased in two consecutive quarters, it remains more than twice its pre-recession average of 6.4%.

Conventional financing has expanded as the housing recovery has grown. The market share of new home sales with conventional financing was 62.2% in 2009 and 72.0% in the first quarter of 2017. This share has remained between 68% and 75% over the past four years.

 

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http://eyeonhousing.org/2017/05/cash-finances-smallest-share-of-new-home-sales-since-2010/

30 Year Mortgage rates average 3.57% | Katonah Real Estate

Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates falling for the third consecutive week following disappointing April employment data. Mortgage rates are at their low point for the year.

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 3.57 percent with an average 0.5 point for the week ending May 12, 2016, down from last week when it averaged 3.61 percent. A year ago at this time, the 30-year FRM averaged 3.85 percent.
  • 15-year FRM this week averaged 2.81 percent with an average 0.5 point, down from last week when it averaged 2.86 percent. A year ago at this time, the 15-year FRM averaged 3.07 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.78 percent this week with an average 0.5 point, down from last week when it averaged 2.80 percent. A year ago, the 5-year ARM averaged 2.89 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 theDefinitions. Borrowers may still pay closing costs which are not included in the survey.

Quote
Attributed to Sean Becketti, chief economist, Freddie Mac.

“Disappointing April employment data once again kept a lid on Treasury yields, which have struggled to stay above 1.8 percent since late March. As a result, the 30-year mortgage rate fell 4 basis points to 3.57 percent, a new low for 2016 and the lowest mark in 3 years. Prospective homebuyers will continue to take advantage of a falling rate environment that has seen mortgage rates drop in 14 of the previous 19 weeks.”

US Mortgage Apps surge 25% | Katonah Real Estate

Applications for U.S. house mortgages surged 25.5 percent in the week ended October 2nd, 2015, rebounding from a 6.7 percent fall in the previous period and posting the highest gain since-mid January as many applications were filled prior to the TILA-RESPA regulation took effect on October 3rd, introducing changes to the mortgage process. In addition, fixed 30-year mortgage rates averaged 3.99 percent, the lowest in five months. Refinancing applications soared 24.2 percent and purchase applications went up 27.4 percent. Mortgage Applications in the United States averaged 0.54 percent from 2007 until 2015, reaching an all time high of 49.10 percent in January of 2015 and a record low of -38.80 percent in January of 2009. Mortgage Applications in the United States is reported by the Mortgage Bankers Association of America.

 

Actual Previous Highest Lowest Dates Unit Frequency
25.50 -6.70 49.10 -38.80 2007 – 2015 percent Weekly
SA
Mortgage Applications measure the change in the number of new applications for mortgages backed by the Mortgage Bankers Association during the reported week. Mortgage applications include both refinancing and home purchasing. This page provides – United States MBA Mortgage Applications – actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for – United States MBA Mortgage Applications – was last refreshed on Wednesday, October 7, 2015.
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http://www.tradingeconomics.com/united-states/mortgage-applications

Boost Your All-White Color Scheme | Katonah Real Estate

Love the look of fresh white but don’t want to feel like you live in a cold, minimalist compound? Here’s how to boost white to get a livable, inviting look that feels airy, open and full of personality.

Manhattan Studios Rentals Set Record | Katonah Real Estate

Manhattan’s smallest apartments are fueling big gains in rents.

The median rent in the borough jumped 8.9 percent last month to $3,375, according to a report Thursday by appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate. Costs for studio apartments climbed 10 percent to a median $2,351, while rents for one-bedrooms rose 9.4 percent to $3,400, both the highest in more than seven years of record-keeping.

New York’s smaller apartments are luring new tenants entering an improving job market in the city, as well as those who can’t afford bigger homes. Would-be buyers who have been shut out of owning because of high prices and tight credit are also lingering as renters.

“The studio and one-bedroom market is the more common jumping-off point for first-time buyers,” said Jonathan Miller, president of Miller Samuel and a Bloomberg View contributor. Rents are rising “because of the logjam that has been created by people who have either been priced out of the purchase market or don’t qualify for a mortgage.”

Manhattan apartment prices jumped to the highest since their 2008 peak in the fourth quarter as buyers competed for a limited supply of homes. Demand was greatest for one-bedroom apartments, which accounted for 38 percent of all sales last quarter, Miller said.

A strengthening job market is also fueling housing demand. New York City’s private sector added 112,300 jobs in the 12 months through January, and the unemployment rate fell to 7.1 percent that month from 8.3 percent a year earlier, the New York State Labor Department said Tuesday.

More Affordable

While employment is improving, incomes aren’t rising as fast as Manhattan rents, leading tenants to seek affordability by finding smaller spaces, Gary Malin, president of brokerage Citi Habitats, said in an interview.

“Smaller apartments are drawing more attention because there’s more of an appetite for those price points if there’s only a certain amount of money you can afford to spend,” Malin said.

Citi Habitats, which also released a report today on the Manhattan rental market, said the average rent for a studio increased 5 percent in February from a year earlier to $2,150. Rents for one-bedroom units climbed 3 percent to $2,893.

Rents declined at the higher end of the market. Two-bedroom units fell 2 percent to $3,957, and three-bedrooms dropped 1 percent to $5,133, Citi Habitats said.

 

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http://www.bloomberg.com/news/articles/2015-03-12/manhattan-studios-set-rent-record-as-tenants-go-small

1.8 Million Bubble-Era HELOCS Could Bust | Katonah Real Estate

More than half, 56 percent, of the 3.3 million Home Equity Lines of Credit scheduled to reset over the next four years with fully amortizing monthly payments replacing interest-only payments are on properties that are seriously underwater, according to a new report from RealtyTrac.

With no equity remaining in the Bubble-era HRLOCs, the risk is high that the resets will trigger widespread foreclosures as owners struggle to meet the higher monthly payments.

A total of 3,262,036 HELOCs with an estimated total balance of $158 billion that originated during the housing price bubble between 2005 and 2008 are still open and scheduled to reset between 2015 and 2018. Of these, 1,834,588 (56 percent) are on residential properties that are seriously underwater, meaning the combined loan to value ratio of all outstanding loans secured by the property is 125 percent or higher.

“Homes purchased or refinanced near the peak of the housing bubble between 2005 and 2008 are much more likely to still be underwater despite the strong recovery in home prices over the last three years,” said Daren Blomquist, vice president at RealtyTrac. “Furthermore, many homeowners with HELOCs who have positive equity likely already refinanced to mitigate the payment shock from a resetting HELOC — an option not readily available for homeowners still underwater.

“While these underwater homeowners experiencing payment shock from resetting HELOCs are at higher risk for default, the good news is that we’ve already seen a large wave of more than 700,000 resetting HELOCs in 2014 without a corresponding wave of defaults,” Blomquist noted. “The bad news is that a much lower 40 percent of those 2014 HELOC resets were on seriously underwater homes. We are entering a period of higher risk over the next four years when it comes to resetting bubble-era HELOCs — especially given slowing home price appreciation that offers underwater homeowners less hope of recovering their equity in the short term.”

 

HELOCS

States with most HELOC resets are California, Florida, Illinois, Texas and New Jersey

With 645,872 HELOCs scheduled to reset over the next four years, California led the way among the states in terms of sheer volume of resetting HELOCs. A total of 423,706 (66 percent) of those resetting HELOCs in California are on homes still seriously underwater, and the average monthly payment increase on HELOCs resetting in California over the next four years is $215.

Florida had the second highest number among all states of resetting HELOCs over the next four years, with 513,229, followed by Illinois with 158,199. In both Florida and Illinois, seriously underwater homes backed 71 percent of the resetting HELOCs over the next four years.

Texas had the fourth highest number of resetting HELOCs with 158,017 over the next four years — 36 percent of which were on seriously underwater homes, and New Jersey had the fifth highest number of resetting HELOCs with 145,312 over the next four years — 47 percent of which were on seriously underwater homes.

 

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http://www.realestateeconomywatch.com/2015/03/1-8-million-bubble-era-helocs-could-bust/

Mixing Vintage and Modern in an Urban Family Kitchen | South Salem Real Estate

Emily and Ian Allison’s kitchen looked like it was thrown together on a whim, that’s because it kind of was. When previous owners converted their 1888-built home into a duplex, they put together an ad hoc kitchen on the second floor because the original kitchen resided on the ground floor. So when the Allisons bought both units and rented out the bottom floor, they were stuck with a kitchen that seriously lacked function. “There wasn’t even a single drawer,” says Ian. “It was a bummer.”