Tag Archives: North Salem NY Real Estate for Sale

North Salem NY Real Estate for Sale

11 Ridiculous Facts About Your New Dream Job: Estate Manager | North Salem Real Estate

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Attention, earnest young strivers whose skillsets have yet to find practical application in “the real world” and whose applications have yet to catch the eye of the casting directors of The Real World: The Wall Street Journal has found the perfect job for you and it is sooo Downton Abbey. You, yes you, could rake in as much as $200K a year as an estate manager, and all you would need to do is cater to homeowners with “a lot of home to handle,” many of whom only live in their palatial mansions for a few months a year. Use the following steps as a sort of job description, and before you know it you could be managing an L.A. estate for members of a Saudi royal family with a staff of 75:

1. Be ready to perform duties including “everything from patrolling the tennis court to stretching the owner’s Manolo Blahnik heels.” (Maybe try putting water-filled Ziplocs in the toe and setting them in the freezer?)

2. Going off the experience of one estate manager who lives in the guest quarters on his client’s Beverly Hills estate, an average 12-hour shift involves entering the house 10-20 times a day for “regular security sweeps, meetings with the housekeepers and landscaper, and a maintenance inspection of all nine refrigerators, eight air conditioners and 12 bathrooms.”

3. It’s important to know where to draw the line, though: “I don’t fold people’s laundry or underwear, but I am an accommodator.”

4. You could also draw the line at taking care of tropical fish. “When they die and the owner cries for a week,” says one manager, “I’m not going to be responsible.”

5. Still, you can expect to find the following on a list of chores: “Check the salinity level of the indoor saltwater pool; polish about 15 bronze statues, including a giraffe and a mermaid; tidy up the meditation room with the large Buddha statue; regularly flush all seven toilets and run the steam showers.” Between tidying up around the Buddha and accommodating your clients’ lack of toilet use, remember your mantra, “I am not an accommodator.” Repeat it often.

6. Other duties may include taking the boat out on the lake “to warm up the engine,” and spending five years nurturing a pair of prized bonsai trees “that needed to be treated like children.”

7. Absolute discretion is key: “My children don’t know who I work for—my parents don’t know who I work for.”

8. Other helpful attributes include “reliability” and “moxie.” Positions go to everyone from ex security professionals to former fashion models, though for one estate manager, being from a “big Italian family” was qualification enough.

9. Colorful duties said backgrounds would make you perfect for include scouring the country “for a manufacturer of a specialty tile imported from Italy,” finding a “voodoo priest to bless the owner’s new house,” and carrying “non-FDA approved drugs” for clients. These kinds of responsibilities are why “trust is so important.”

10. Think of it this way: You are, In the words of an L.A. estate manager, “running a company, and the company just happens to be a family of five.” Be sure to inquire about stock options.

 

 

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http://curbed.com/archives/2014/09/29/being-an-estate-manager.php

 

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

Auf Wiedersehen German real estate? Not so fast | North Salem Real Estate

 

As soon as someone mutters the words London property, the word “bubble” is never far away.

London house prices displayed a jaw-dropping 20 percent growth year-on-year in July– even though last week’s RICS indicator showed that the housing market is pausing for breath. Bank of England (BoE) Governor Mark Carney has sounded a warning on tougher mortgage rates and the expectation of higher rates.

But London isn’t the only place which is seeing a dizzying increase in property prices. Look no further than across the channel – to the euro zone’s economic powerhouse – Germany.

Major cities like Frankfurt, the financial capital, Munich with its famous beer gardens and proximity to the Alps and Stuttgart, the home of Mercedes and Porsche, are becoming increasingly attractive as a place to live and work. Germans from rural settings and immigrants are flocking to the cities.

But like in London, an equally potent driver of the property market in Germany is the good old “search for yield”.

 

 

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http://www.cnbc.com/id/101926645?__source=yahoo%7Cfinance%7Cheadline%7Cheadline%7Cstory&par=yahoo&doc=101926645#.

 

Bank of America Merrill Lynch concludes Dodd-Frank killed housing | North Salem Homes

 

Two analysts at Bank of America Merrill Lynch are celebrating the 4-year anniversary of Dodd-Frank, the financial reform law, by calling it “persistent financial repression.”

Analysts Chris Flanagan and Adam Katz joined a chorus of voices using the birthday opportunity to express displeasure of the legislation and disdain in the inability to effect more meaningful reform — that is one that promotes more responsible mortgage lending.

“In testimony to Congress on QRM this week, Mr. Frank noted changing the US residential mortgage market was foremost among the very purpose of the statute,” said Flanagan and Katz.

And change that market it did — by sucking the life out of it.

“We think persistently low mortgage application volumes and this week’s extremely weak new home sales report for June and May are natural outcomes of the legislation,” the analysts write, adding they don’t expect the next four years to be very different.

 

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Bank of America Merrill Lynch concludes Dodd-Frank killed housing

A Homebuilding CEO Nailed It On What’s Wrong With The Housing Market | North Salem Homes

 

Prices are still on the rise, and activity is above crisis levels. But the pace of activity still seems sub-normal, which is being attributed to a combination of: lack of supply, the difficulty of getting a mortgage, and subdued activity among tradition first-time homebuyers.

The missing “first-time homebuyers” is a big source of discussion, as people theorize that the new generation just isn’t interested in homeownership. Or maybe they are interested in homeownership, but due to student loan debt and lack of jobs, they just can’t make it happen.

So what will get them into the housing market? Simple, strong job growth.

On his company’s quarterly conference call this past week (via Calculated Risk), Jeff Mezger, the CEO of homebuilder KB Home, said that there was some slight signs of renewed first-time homebuyer activity. During the Q&A portion of the conference call, Mezger was pressed on what specifically he was seeing. Here’s the key back and forth, where an analyst from JPMorgan asks for clarification on first-time homebuyer activity. Note the bolded part of Mezger’s answer:

Michael Rehaut – JPMorgan

That’s great. I appreciate that. And I guess second question for Jeff Mezger, as there are two Jeffs I have to distinguish. Jeff, you mentioned that in your opening remarks that there was evidence of a reemergence of the first-time buyer and I was hoping you could expand on that a little bit in terms of that if that’s something you are seeing in your own business itself and particularly given that you continue to perhaps shift to maybe away from the historically traditional first-time buyer more of a financially – more financially a stronger type of first time buyer that’s more financially able and more perhaps the move up community, so I was just wondering if this was something that you kind of saw specifically within your own business or if it was more just kind of general comments as it relates to perhaps mortgage lending standards or other trends that you see out there?

Jeff Mezger – Chief Executive Officer

Mike, it’s part of why I split it into the two different business dynamics we are dealing with today. In the higher income with land constrained areas I don’t know that our first-time buyer mix has changed. It’s a different first-time buyer I know it’s a higher income buyer than we would have seen 10 years ago. What I was trying to point out in the cities pick a Texas City because all four of the larger cities has solid job growth and real population growth going on today. And it’s a because of the job growth we are seeing more first-time buyers. They are not – it’s a well healed first-time buyer, but it’s not the high income first-time buyer like you would see in Orange County or up in the Santa Clara County. So I think it’s because you have job growth going on in those cities and that’s within our own business we are seeing this .

 

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http://finance.yahoo.com/news/homebuilding-ceo-nailed-whats-wrong-151910637.html

What you need to apply for a mortgage | North Salem Real Estate

 

 

When it comes time to apply for a mortgage in 2014, you might be surprised at how much documentation you’ll need.

J.D. Crowe, president of Southeast Mortgage in Lawrenceville, Ga., says most of the documentation should be familiar to you if you have applied for a mortgage loan in the last five years. If you’re new to the mortgage market this year, he says, this is all new.

The new qualified-mortgage rules that took effect on Jan. 10 make this paperwork even more important. To meet the rules, lenders will be even more diligent in collecting the paperwork that proves that you can afford your monthly mortgage payments. David Reiss, professor of law at Brooklyn Law School in Brooklyn, N.Y., says that while the documentation requirements under the rules might come as a shock to those who haven’t applied for a mortgage since 2008, they are common-sense requirements, for the most part.

“These are really common-sense rules,” Reiss says. “The new rules say that mortgage lenders are no longer allowed to throw out the common-sense standards of lending money during boom times, when they might be tempted to overlook long-term financial goals for quick profits. If the rules help that happen, they’ll be a good thing.”

 

 

 

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http://realestate.msn.com/what-you-need-to-apply-for-a-mortgage

Should You Rent or Sell Your Home? | North Salem Real Estate

 

Ryan Severino liked the location of his family’s home in Scotch Plains, N.J., but he also thought they needed more space. So in the summer of 2011, they decided to buy a bigger house. Mortgage interest rates were down, and so were home prices. “We were outgrowing our house,” Severino says. “We didn’t want to wait for prices to go back up.”

But one thing he didn’t realize was exactly how long it would take to sell the first house or to rent it, if that turned out to be the better option. “It comes down to more than pure economics,” says Severino, senior economist and associate director of research at Reis, Inc., a real estate research firm.

Finally, in the spring of 2012, eight or nine months later, Severino found a buyer for the first house. In the interim, Severino weighed the pros and cons of renting versus selling, and he reflected on the decision he ultimately made. “It was tough to sell it in that market,” Severino says. “We had the house on the market for sale while we were getting inquiries for renting it.” But Severino knew he didn’t want to be a landlord, and “didn’t want the money tied up in the house.”

Determining whether a property is a good investment takes research and analysis, and it’s wise to take your time in making the decision because it’s a major one, real estate experts say.

 

 

http://news.yahoo.com/rent-sell-home-204651328.html

Princess Firyal’s Pierre duplex hits the market for $70M | North Salem NY Homes

 

A sprawling Upper East Side home believed to belong to HRH Princess Firyal of Jordan is once again on the market — this time, with an asking price of $70 million.

The duplex apartment, which spans the 30th and 31st floors of the Pierre at 795 Fifth Avenue, was owned by the late financier Lionel Pincus and later handed over to the Jordanian princess, Pincus’ longtime companion. The luxurious 7,000-square-foot, five-bedroom home boasts 360-degree views of Central Park and the Manhattan skyline, a 42-foot library along Fifth Avenue and two master bedroom suites with custom wood-paneled dressing rooms and marble baths, according to the listing. Sotheby’s International Realty broker Serena Boardman has the listing.

Boardman declined to comment for this story, and a spokesperson for Sotheby’s declined to confirm the seller’s identity. Calls and emails to Firyal’s publicist were not immediately returned.

Pincus, who co-founded private equity firm Warburg Pincus, was incapacitated in 2003. His sons listed the apartment in 2007 for $50 million, claiming the upkeep was too expensive. They listed it again In March 2008 for $35 million.

 

http://therealdeal.com/blog/2014/01/27/princess-firyals-pierre-duplex-hits-the-market-for-70m/