Tag Archives: North Salem Luxury Homes

Rate on New Home Loans Stays Just Above 4 Percent | North Salem Real Estate

Earlier today, the Federal Housing Finance Agency (FHFA) reported that mortgage interest rates declined in September.  That was true as well for the subset of mortgages used to purchase newly built homes, but the changes were very small.  On conventional mortgages for new homes, the average contract interest rate edged down by just 2 basis points, to 4.11 percent.

Contr Rate Sep14Meanwhile, the average initial fee on mortgages used to purchase newly built homes dropped from 1.15 to 1.09 percent—the lowest it’s been since August of 2013.

Fees Sep14However, the decline in the average fee was not enough to drive the average effective interest rate (which amortizes the initial fee over the estimated life of the loan) down by more than 2 basis points, to 4.23 percent.  Except for these minor fluctuations, the average terms on conventional new home mortgages have been stable for the past four months.

Eff Rate Sep14Also in September, the average price of a new home purchased with a convention loan, and the average amount of the loan, both increased. The average loan amount went from $314,200 to $319,800, while the average new home purchase price went from $411,800 to $422,300.  Each has been hovering within a relatively narrow band since March.

 

 

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http://eyeonhousing.org/2014/10/rate-on-new-home-loans-stays-just-above-4-percent/

 

Housing is waking up to a new hangover | North Salem Real Estate

 

First came a historic national crash in home prices, then a surprisingly sharp jolt off the bottom. Investors, desperate for yield and fueled by Fed-induced cheap cash, swarmed the most distressed housing markets, buying bargain-basement properties and turning them into rentals. Some markets saw double-digit annual price appreciation. Some analysts started to float the word “bubble,” again.

Now, finally, reality is setting in yet again.

Foreclosures have fallen to new lows since the crisis, and investors, while not selling their homes, are not buying nearly as many. That has taken much of the air out of home prices. In addition, the number of homes for sale is rising, pushing sellers from the driver’s seat to the way, way back.

“What a difference a year makes,” said Stan Humphries, chief economist at Zillow. “At this time last year, we were worrying about a number of frothy markets that looked like they could be on the edge of another housing bubble, places where homes were appreciating at more than 20 percent per year and where buyers’ heads were spinning just trying to keep up.”

Now those markets, while not in the red, are barely in the black. Los Angeles, for example, saw home prices rise over 18 percent in the third quarter of 2013 from the same time in 2012. Now its annual appreciation for the quarter is down to 8 percent, according to Zillow.

“Buyers don’t have the same sense of urgency as they did before. They can be a little bit more discerning,” said Greg Bender, a Los Angeles-area Realtor with Berkshire Hathaway HomeServices.

Bender is seeing homes sit on the market far longer than they did just six months ago. It is no longer a seller’s market.

In Phoenix, hard hit by the housing crash and a favorite among investors in 2012 and 2013, the price deflation is even more dramatic. Last year, prices were up 18 percent annually at this time. Today they are up barely 1 percent. Demand and supply are low.

“Most of the median-price increase over the last 12 months is because a greater percentage of the homes being sold are in the luxury market, not because home values overall are increasing,” Arizona State University’s Mike Orr wrote in a recent report. “We anticipate pricing will move sideways or slightly down over the next few months until supply and demand get back into balance.”

While most housing analysts do not expect home prices to go negative on a national level again, some have floated that possibility. Home prices soared from 2003 to 2007 due to cheap and easy credit. When that went away, prices plummeted nationally for the first time in history.

 

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http://finance.yahoo.com/news/housing-waking-hangover-155830848.html

 

Tribeca’s grandest new restaurant | #NorthSalem #RealEstate

Floyd Cardoz is one of the few people who can make me eat a beet.

Normally, I’ve got no interest in beets’ “earthiness” (which is, let’s admit it, sort of a BS description; when was the last time you took a bite of earth?).

But when Cardoz was the head chef at Danny Meyer’s North End Grill, I once had a tour of the restaurant’s rooftop garden. Cardoz pulled some beets right out of the ground, then roasted them so simply that, for once, they actually tasted like candy.

The design aesthetic of White Street, Cardoz’s new Tribeca restaurant, embraces André Leon Talley’s mantra of “luxury or nothing”: black and gold accents, chandeliers dripping with crystals, a swank bar up front. It feels more Midtown hotel than Downtown restaurant, with a well-heeled crowd mostly talking in hushed tones.

Chef Floyd Cardoz and his squid ink bucatini with lobster

The menu takes its inspirations from all over—wasabi! grits! aged balsamic!—so “global” may be the best way to describe the food.

“I just love flavor,” Cardoz explains when we talk later. “So I take broad strokes from different cuisines—and I don’t start with preconceived notions for any dish.”

It’s an eclectic approach that works: Nicely tart house-made apple cider is poured tableside over hamachi tartare flecked with bits of hearts of palm ($17); squid-ink bucatini ($19) topped with gorgeous, tender lobster claws still fully intact, is sauced with an intense lobster broth, then finished with coriander, chiles and coconut milk instead of cream.

Read more: http://www.tastingtable.com/entry_detail/nyc/17941/Chef_Floyd_Cardoz_Goes_Elegant_at_White_Street_in_Tribeca.htm#ixzz3EFOXjN81

Sarah Jessica Parker, Matthew Broderick Re-List $22M House | #NorthSalem Real Estate

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Celebrity super-couple and serial real estate shoppers Sarah Jessica Parker and Matthew Broderick are on the house hunt once again—the actors just re-listed their Greenwich Village townhouse at 20 East 10th Street for $22 million. The couple put the house on the market two years ago (during this same week) for $25 million, before briefly taking it off the market this April. Supposedly, the couple has never actually lived in the house, but they renovated it anyway (Vogue interviewed SJP in a different property earlier this year, one Curbed commenter says that the interview likely took place at their house on Charles Street). The 25-foot wide, 6,800-square-foot home has seven fireplaces, a landscaped garden, five bedrooms, and a full-floor master suite with a terrace, two walk-in closets, and a hand-carved stone tub. The couple bought the place in 2011 for just under $19M.

 

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http://ny.curbed.com/archives/2014/09/08/sarah_jessica_parker_matthew_broderick_relist_22m_house.php

 

How these amateur home flippers found their niche in real estate | North Salem Real Estate

 

As the number of available foreclosure properties dwindle and home values improve, house flipping in the U.S. is on the decline.

Recent data from RealtyTrac shows only 31,000 single-family homes were flipped in the second quarter of 2014, making up just 4.6% of all home sales — down from 5.9% in the first quarter and 6.2% in the last quarter of 2013 (house flipping is defined as buying and then selling a home within 12 months).

Lower-end house flipping has seen the steepest decline. While sales of homes flipped for $750,000 or more increased by 21% this year, homes sold for less than $100,000 dropped by 5%, according to RealtyTrac.

Low-end house flippers played a crucial part of the housing recovery, says Ardell DellaLoggia, a Seattle real estate agent. In areas wracked with foreclosures , flippers swooped in to rehab homes that otherwise might have been left in disrepair. But with the inventory of distressed homes on the decline, there’s less opportunity for “mom and pop” flippers  to invest.  There’s also no guarantee they’ll net a solid return on their investment. Home flippers averaged a gross return of 21% this year, which is nothing to sniff at, but represents a 10% drop from one year ago, according to RealtyTrac. 

“If you have enough flippers, you will not have those neighborhoods filled with [vacant homes],” DellaLoggia says. “For a [first-time home buyer] who would be thrilled to death to be able to afford a house that’s liveable, flippers are wonderful.”  

For now at least, it will continue to be a high-end flipper’s market. But we tracked down some home flippers who are still sticking it out on the lower end of the market. They aren’t making massive profits and they don’t have tons of cash to throw around, but they’re still managing to make home flipping a worthwhile investment.

 

read more…

 

http://finance.yahoo.com/news/how-these-amateur-home-flippers-found-their-niche-in-real-estate-155020348.html

 

Teatown Lake Reservation | North Salem Real Estate

 

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August 13, 2014
PROGRAMS THIS WEEK:
Advanced Registration is required for all programs. Unless noted, all programs meet in the Nature Center and are $7 per person or FREE for members. Please register by calling (914) 762-2912 ext. 110.
Honey Bee

Busy as a Bee: National Honey Bee Day
Saturday, August 16
10 – 11:30 am

Catch the buzz about honey bees in this program to learn about all the services they provide and bring awareness about the plight of the bee. All Welcome.

Visit Teatown

1600 Spring Valley Road
Ossining, NY 10562
Teatown Lake Reservation’s
mission is to inspire our community to lifelong environmental stewardship.
Nature Center hours:
9 am – 5 pm daily
Trails are open 365 days a year from dawn to dusk.
Click here for Teatown membership benefits, details,
and to purchase or renew
your membership online.

Your donation can make

an immediate impact and help

support our environmental education programs and the stewardship of our 1,000 acre preserve.

Shop on Amazon?

Click the link below and a portion of your Amazon purchase will be donated to Teatown!

Click here.

Upcoming Events and Workshops:
Ferret Frolic!
Saturday, August 23
1-2:30 pm

Let’s share play time with Teatown’s domestic weasels – our ferrets! Watch how they use their bodies and senses to frolic and communicate, and learn how their wild cousins like otters and minks do the same thing. All Welcome. Space is limited to 10 participants.

Nature’s Recyclers
Sunday, August 24
11 am – 12 pm

How does recycling get accomplished in nature? Meet some animal recyclers and find out how things get broken down the natural way. All Welcome.

In the Nature Center Gallery:

Nature Center Gallery Richard Pileggi

Quiet Landscapes

Photography

By Richard Pileggi

On exhibit

July 5 – August 30

Click here for more info

Announcing the publication of:

Teatown’s Wildflower Island

by Lisa Fleck Dondiego

A privately printed, 80-page photo book with an Index identifying the flowers.

Foreword by Leah Waybright Kennell, Curator of Wildflower Island.

This wonderful book is available for

purchase in Teatown’s nature store for $45 plus tax.

Teatown Highlight:
Wildflower Island Summer Tours
Be inspired by Teatown’s natural beauty – Don’t miss Wildflower Island’s final blooms of the season.
Weekend tours
Saturdays: 10am & 1pm
Sundays: 1pm
Private tours for groups of eight or more can be arranged.
 
Pre-registration is required for all tours. $6 per person or $4 per member.
To register, please call 914-762-2912 ext. 110.
 

Teatown Lake Reservation News | North Salem Real Estate

 

View our videos on YouTube Like us on FacebookFind us on PinterestFollow us on Twitter

July 16, 2014
PROGRAMS THIS WEEK:
Advanced Registration is required for all programs. Unless noted, all programs meet in the Nature Center and are $7 per person or FREE for members. Please register by calling (914) 762-2912 ext. 110.

Wake Up and Hike!
Saturday, July 19
9 – 11 am

Start your day with a hike through Hidden Valley before the heat of the day settles in, and see what is up and about. This is an adult program.

Exploration on Bailey Brook
Sunday, July 20
10 – 11:30 am

What’s living in the brook? Be prepared to get a little wet and muddy as we search for insects, crayfish, turtles and fish in the cool water. All Welcome

Visit Teatown

1600 Spring Valley Road
Ossining, NY 10562
Teatown Lake Reservation’s
mission is to inspire our community to lifelong environmental stewardship.
Nature Center hours:
9 am – 5 pm daily
Trails are open 365 days a year from dawn to dusk.
Click here for Teatown membership benefits, details,
and to purchase or renew
your membership online .

Your donation can make

an immediate impact and help

support our environmental education programs and the stewardship of our 1,000 acre preserve.

Upcoming Events and Workshops:
What a Hummer!
Saturday, July 26
2 – 3:30 pm

Hummingbirds are winged jewels of the bird world. Learn more about these birds and make a hummingbird feeder to attract them to your yard. All Welcome. $5 per feeder

In the Nature Center Gallery:

Nature Center Gallery Richard Pileggi

Quiet Landscapes

Photography

By Richard Pileggi

On exhibit

July 5 – August 30

Click here for more info

Announcing the publication of:

Teatown’s Wildflower Island

by Lisa Fleck Dondiego

A privately printed, 80-page photo book with an Index identifying the flowers.

Foreword by Leah Waybright Kennell, Curator of Wildflower Island.

This wonderful book is available for

purchase in Teatown’s nature store for $45 plus tax.

Teatown in the News:
Invasive Species Awareness Week at Teatown
Photo by Anthony

New York State celebrated its first Invasive Species Awareness Week from July 6 through 12.
At Teatown we watched and learned about our local invasive species as our staff removed Oriental bittersweet from Wildflower Woods, black swallow-wort from Cliffdale’s fields, and water chestnut from Teatown Lake.
Click here to learn how you can help stop the spread of invasive species.

The Baby Boomer housing sell-off | North Salem Real Estate

 

When Arthur Nelson, a professor at the University of Arizona, went shopping for a home in Tucson recently, he found plenty of senior citizens trying to sell their homes — but at prices far more than what they were worth. “I was amazed at the number of homes that were overpriced by about 25% where the owners were seniors,” he said. These seniors would barely counteroffer, taking so little off the asking price that it wasn’t worth negotiating, Nelson said.

 

read more…

 

http://www.housingwire.com/articles/30485-the-baby-boomer-housing-sell-off?v=preview

National prices now just 12% off their peak | North Salem Real Estate

 

Home prices nationally rose 0.9% in April, which is up 6.4% year-over-year, according to the most comprehensive and latest report from Black Knight Financial Services.

The report is based on April 2014 residential real estate transactions.

This puts U.S. home prices at just 12% off their 2006 peak.

The Music City, Nashville, hit a new peak in April. It was among seven of 40 largest metro areas to do so.

Click below to see the chart.

Nineteen of 20 largest states see month-over-month growth with no declines.

Looking at the states, Georgia and Massachusetts led monthly gain with 1.6% monthly growth, while Iowa and Arizona brought up the rear with 0.4% and 0.0%, respectively.

 

 

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http://www.housingwire.com/articles/30399-black-knight-home-prices-up-09-for-april

New York Ranks High Among Safest States To Live | North Salem Real Estate

 

WalletHub, the personal finance social media network, recently ranked New York as the 10th safest state to live in.

WalletHub compared each of the 50 U.S. states and the District of Columbia in 26 different metrics. The data is broken down into categories that include workplace safety, emergency preparedness, home and community stability, traffic safety and financial security.

The Empire State ranked in the Top 10 in two categories: home and community safety (third) and financial safety (ninth). New York also finished in the top half in driving safety (13th), but ranked dead last in natural disasters (51st).

Massachusetts,ranked No. 1 overall, just ahead of New Hampshire. Neighbors Connecticut and New Jersey ranked ninth and 13th, respectively.

Nevada was ranked last in overall safety, coming in 51st

 

 

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http://bedford.dailyvoice.com/lifestyle/new-york-ranks-high-among-safest-states-live