Daily Archives: August 5, 2011

Chappaqua NY Homes | Top 10 Real Estate ETFs – TheStreet

Leave a reply

By Dave Fry

NEW YORK (ETF Digest) — Our goal in this profile is to help investors wade through the many competing ETF offerings available. Using our long experience as an ETF publication, and nearly 40 years in the investment business, we can help select those ETFs that matter and may or may not be repetitive. The result is a more manageable list of issues from which to view and make selections.

There is currently an expanding list of nearly 20 ETFs oriented to primarily REITs (Real Estate Investment Trusts) with more on the way. The following analysis features a fair representation of ETFs available. We believe from these investors may choose an appropriate ETF to satisfy the best index-based offerings individuals and financial advisors may utilize.

We’re not ranking these ETFs favoring one over another so don’t let the listing order mislead you. Although we may use some of these in ETF Digest portfolios it’s not our intention to recommend one over another.

ETFs are based on indexes tied to well-known index providers including Russell, S&P, Barclays, MSCI, Dow Jones and so forth. Also included are some so-called “enhanced” indexes that attempt to achieve better performance through more active management of the index.

Where competitive issues exist and/or repetitive issues available at a fee cost saving we mention those as other choices. New issues are coming to market consistently (especially globally) and sometimes these issues will need to become more seasoned before they may be included at least in our listings.

For traders and investors wishing to hedge, leveraged and inverse issues are available to utilize from ProShares and Direxion and where available these are noted.

Vanguard REIT ETF(VNQ) follows the MSCI US REIT Index which covers about 2/3 of all REITs in the U.S. market. The fund was launched in September 2004. The expense ratio is .12%. AUM (Assets under Management) are approaching $10 billion with average daily trading volume 1.8M shares. As of mid-July 2011 the annual dividend was $1.65 making the current yield roughly 2.68% with YTD return of 10.90%.

Data as of July 2011

VNQ Top 10 Holdings and Weightings

1. Simon Property Group (SPG): 9.12%

2. Public Storage (PSA): 4.66%

3. Equity Residential (EQR): 4.66%

4. HCP (HCP): 4.42%

5. Vornado Realty Trust Shs of Benef Int (VNO): 4.18%

6. Boston Properties (BXP): 3.86%

7. Host Hotels & Resorts (HST): 3.41%

8. AvalonBay Communities (AVB): 2.97%

9. ProLogis Trust (PLD): 2.64%

10. Health Care REIT (HCN): 2.62%

via thestreet.com

Mt Kisco NY Real Estate | Little League Player Returns to Mound After Being Saved by Lewisboro Doctor – Bedford-Katonah, NY Patch

Leave a reply

Tuesday’s little league 10-and-under game between host Mt. Kisco and visiting Lewisboro was a notable one, as its marked Mikey Corsi’s return with a ceremonial first pitch.

Corsi, 10, has been recovering since his heart stopped during a June 30 game, which was hosted by Lewisboro, caused by a generic heart rhythm issue called QT Syndrome. At the game, his life was saved with CPR from Dr. Carmine Sorbera, a Lewisboro resident and a cardiologist at Columbia University Medical Center who performed CPR on Corsi.

Click here for more on the story of Sorbera’s life-saving medical attention on the field.

Sorbera is also a cousin of Mt. Kisco Little League Coach Ralph Nuzzi.

Corsi was subsequently taken to the emergency room at Northern Westchester Hospital, then to Columbia-Presbyterian in New York City, where he then received an internal defibrillator implant, according to his mother, Lisa Corsi.

While Corsi is out for the season as he recovers, he is making progress, and his mother even expects him to be able ot start swimming again soon.

Mt. Kisco won the game, 16-5, according to the box score. It was stopped in the 6th inning due to there being more than a 10-run spread between the teams so late in the game, according to George Rubin, who helps out the team and keeps score. Highlights, according to Rubin, included Tommy Passarelli going 4 for 4, with two home runs. He, along with Joe Nuzzi and Chris DiFiore, were the pitchers.

Video of the game’s start, with Corsi at the mound, is provided by David Green, his uncle. Photos of the game are attached.

via bedford.patch.com

North Salem NY Real Estate | Take a Daycation: Go Stand Up Paddleboarding – Bedford-Katonah, NY Patch

Leave a reply

Don’t have time to take a spa weekend with your girlfriends? Is that week at the beach with the kids looking too expensive? Given money and time constraints, taking time off to recharge and relax can seem impossible.

But sometimes, I discovered, a day is all you need.

Just over the Connecticut border is a quick “daycation” destination enjoyable for friends, families and couples: Stand-up paddle boarding. The water sport, which is actually an ancient form of surfing originating from Hawaii, involves paddling a long surf board, or paddle board, while standing.

For a group of first-timers from the Katonah-Lewisboro area, it was easy-to-learn activity in a “resort-like” setting that made us feel like we were on vacation.

SUP has become more popular among non-surfers as a way to travel on rivers, lakes and ponds. After trying it myself, I can tell you it doesn’t require any athletic skill beyond being able to hoist yourself from a kneeling position to standing on a board about three feet across in width. And if you develop some technique, it can give your core a great workout.

Stephanie Sanz of Goldens Bridge corralled her sister, Jennifer Bohner, and a group of mom-friends including me, Adele Lombardi of Katonah, Anna Peris of Waccabuc and Suzanne Melnick of Goldens Bridge. Jennifer, an experienced SUPer, had her own board but the rest of us reserved boards for a two-hour trip through Down Under Kayaking in Rowayton, CT, a picturesque seaport village at the start of the Five Mile River.

Depending on what part of town you’re leaving from, it’s about 30-40 minutes away and ample parking is available in a lot across the street.

That “vacation feeling” began as soon as we pulled into town. Beachy shops lined the main drag and the harbor below was full of yachts and fishing boats and kayaks. “Rowayton is fantastic—it looks like a postcard,” said Anna.

After checking in with Kim Beaumont, the owner of the surf shop, we were told there weren’t enough boards—“we’re just waiting for someone to come back and you’ll be all set,” she said in her New Zealand accent.

I immediately tensed up—this might be a daycation but it was sandwiched in-between camp drop-off and pick-up and I was taking time from work (shh—it was “research”). Waiting around could foil our attempts at scheduled relaxation!

Had we read Beaumont’s bio on the Down Under website, we might have been forewarned about her carefree philosophy. “We‘re laid back, down to earth, honest, easy going,” it reads. We don‘t really worry about tomorrow, or yesterday.”

But the wait was just long enough to check out the cute surf clothes and sun dresses in the shop. We were soon being outfitted with paddles and life jackets and given a very brief demonstration on how to stand up on the board.

And we were off.

We paddled out, kayak-style and on our knees. We were told to remain kneeling until we were away from the dock. One by one, we laid our paddles across the board, put one foot up, then the other, assuming a downward-dog like position, eventually standing tall—some of us more gracefully than others.

Within minutes we were gliding past the shops and boats and admiring the mansions along this section of Connecticut’s gold coast. We all managed to keep a steady pace and no one fell. Jennifer—the one with the experience—showed us how to paddle with a twisting motion to enhance the work on our oblique muscles.

The scenery was breathtaking and aside from an occasional wake from a motorboat, the water was calm. We were paddling in the Long Island Sound now, and made it to a small island where we rested for a bit—though no one seemed overly fatigued. We noticed some other picnickers who arrived with a cooler by kayak and wished we had strapped piná coladas to our backs.

We paddled back, more quickly this time, and completed the round trip in exactly two hours.

“I thought it would be a lot harder than it was,” Adele said afterwards. “It did feel like a good core workout, and although I thought I’d be sore the next day, I wasn’t. I would definitely do it again. It was a fun way to catch up with friends while trying something new and different.”

Anna added that, as a beginner, it was not difficult to get up on the board. “I got the hang of it quickly and I felt very stable most of the time. I think you can control how much you get out of it by speeding up the rowing and also by engaging your abdominal muscles.”

Suzanne also gave it a thumbs up—though she said kayaking makes her feel more “one with the water.” She also said she’d love to return to town for kayaking with the kids or dinner with her husband.

What to know before you go:

  • Advance reservations are recommended.

  • Down Under rents by the hour: $25 for the first, and $15 for each additional hour. If the weather looks bad, you must cancel at least 24-hours ahead of time.

  • Parking is available in a commuter lot across the street

  • They recommend kids be at least 9 years old to head out on their own paddle, accompanied by an adult.

  • There are a few dining options that look good, but right above the shop is the Rowayton Market, which has tables overlooking the water. Help yourself to delicious sandwiches, freshly prepared foods and baked goods, and make your way outside.

via bedford.patch.com

South Salem NY Real Estate | Ball Tour Comes to Town – Bedford-Katonah, NY Patch

Leave a reply

Republican State Sen. Greg Ball of Patterson brought his traveling legislative review to town hall Tuesday, and found his official audience—a three-member town board—less than enthusiastic about some of Albany’s accomplishments.

The board was especially critical of a state-imposed 2 percent limit on the amount that property taxes—the town’s principal source of revenue—may increase in any year. Coupled with so-called “unfunded mandates”—multiple things the state demands of the town but does not finance—the 2 percent tax cap “is very hard to achieve,” Supervisor Lee V.A. Roberts told Ball. “We’ve been cutting [the budget] for three years.”

Councilman Chris Burdick said that as a result of those cuts, which had already steeply pared town outlays, the tax cap’s arrival now “is almost punitive.”  Bedford was put at a disadvantage “because we’ve been fiscally prudent,” he said. “I really think those unfunded mandates had to be addressed first” by the legislature.

Councilman Francis Corcoran suggested that some less budget-conscious municipalities elsewhere had deservedly spent their way into a tax cap. “We understand there are lots of places that need it,” he said. But, Corcoran said,  “we would rather you had done mandates instead of the cap.”

Ball told him that “politically, it [the mandate relief] would have been a nonstarter.”

Roberts also beseeched Ball for state help with the municipal pension burden, saying, “We have to have some relief from that. . . . If you could address that issue it would be the most meaningful for us.”   

 

Board begins budget planning, Bedford Community Theatre explores non-profit status

 

The town board’s regular meeting Tuesday was only the centerpiece of an evening that saw hour-long work sessions both before and after the proceedings captured for television/web cameras. Directly and indirectly, the subject, was as it frequently is in these cash-strapped days, money.

In the early session, the board held the first in a doubtlessly lengthy series of meetings on the 2012 budget, not due to be adopted until December. “I know it seems like a long time to talk about the budget,” Roberts said, “but we have many items to consider.”

After the curtain fell on the regular meeting, the board and Town Attorney Joel Sachs met with a dozen members of the Bedford Community Theater. Arrayed around a makeshift table like a cast at a first-reading, they discussed the troupe’s future: should the theater group, once a quasi town department, be treated that way or would it—and the town—benefit from its becoming a nonprofit 501(c)(3) organization. No firm decisions were reached, but by the meeting’s final act the nonprofit route was not drawing many rave reviews. “We have jobs, we have kids,” said member Diane Bradsell. “We don’t have time to be a 501(c)(3).”

via bedford.patch.com

Bedford NY Real Estate | Bedford Central’s Tax Rates Set, Slightly Higher Than Estimated – Bedford-Katonah, NY Patch

Leave a reply

Tax bills for homeowners in the Bedford Central School district will be slightly higher than forecast in June.

At the time of the 2011-12 school district budget passing, taxes were projected to decrease 3.01 percent in Bedford and increase by 11.2 percent in Mt. Kisco, 2.86 percent in Pound Ridge, 7.25 percent in New Castle and 3.4 percent in North Castle.

They are now set to drop 2.84 percent in Bedford and increase by 11.38 percent in Mt. Kisco, 3.04 percent in Pound Ridge, 7.44 percent in New Castle and 3.58 percent in North Castle.

“The tax levy has not changed since June 15,” said Mark Betz, assistant superintendent for business, at Wednesday’s school board meeting. “What has changed in between the time we put the budget together and the time we put tax rates together is that the tax rolls have closed and the number of small claims or certiorari claims cause changes. Where assessments have gone down slightly, the tax base goes down and rates go up slightly.”

District residents had previously approved a $118,980,000 budget, which included a 1.8 percent tax increase. The tax levy, which is the portion of the budget funded through property taxes, did not change from what it was set at June 15: $105,231,561. However, said Betz, a review of the district’s un-audited June 30 financials showed about $315,000 fewer dollars in the coffers than what was previously estimated.

The difference was a result of about $127,000 less than expected in revenue—mostly due to a drop in state aid and county sales tax revenue. On the expenditure side, the district shelled out an additional $188,000 more than planned because of higher health claim costs and special education obligations. 

The school board approved a $4.4 million appropriation from the district’s fund balance to reduce the tax levy, leaving $4,441,106, or 3.73 percent of next year’s budget, in fund balance—under the four percent limit in undesignated fund balance the district is allowed to keep under state law.

The resolution to approve the tax warrant was approved by Susan Elion Wollin, school board president, and board members Erika Long, Jennifer Gerken, Suzanne Grant and Graham Anderson. Mark Chernis and Eric Karle were absent from the meeting.

Betz noted that this year the district was unable to calculate the amount of the tax levy that would be apportioned to STAR exemptions (New York State School Tax Relief Program), which provides partial relief from school property taxes for homeowners earning less than $500,000.

“The state has now capped the amount a person can save on their taxes at 2 percent of the prior years’ savings,” he said. “It’s another way for the state to reduce their burden to pay for their portion of the tax levy. It used to be we could determine how much the state would pay us in STAR payments, but with the cap, we won’t know the savings until the tax bills are produced by town assessors.”

The first half of the school tax bills will be sent to residents prior to September 1.

Check back with Patch later today for other news from Wednesday’s board meeting.

via bedford.patch.com

Katonah NY Real Estate | Weekend Planner: The Renaissance Faire, Caramoor Jazz Festival and Dog Adoption Weekend – Bedford-Katonah, NY Patch

Leave a reply

The New York Renaissance Faire

When and Where:  August 6-September 25 on Saturdays and Sundays from 10am-7pm in Tuxedo Park, NY

Why Go:  Experience life in Elizabethan England at the annual New York Renaissance Faire. Learn 16th Century games; see hordes of brightly costumed minstrels, musicians, storytellers, courtiers, outlaws, horseback jousts, magicians and nonstop entertainment. A Tudor-style marketplace will be chock-full of period games, drink and food as well as handmade wares.

Price:  $22 adults, $11 ages 5-12, free ages 4 and under

 

Caramoor Jazz Festival

When and Where: Friday, August 5-Sunday August 7 at the Caramoor Center for the Arts in Katonah

Why Go: Since its birth nearly two decades ago, the Caramoor International Jazz Festival has become one of the country’s premiere destinations for this music—jazz artists and fans alike. This year, jazz producer Jim Luce has crafted a three-day festival packed with jazz legends and innovative voices on the international scene demonstrating the breadth and diversity of the state of jazz.  Great Performances will grill chicken, ribs and hot dogs on the picnic lawns.

Price:  Tickets range from $30-$57.00, see website for details

 

Summer Theatre of New Canaan’s CAROUSEL

When and Where:  Thursday, August 4-Saturday, August 6 at 11 Farm Road, New Canaan, CT

Why Go: Take in a local performance of Rodgers and Hammerstein’s most cherished musicals. With classic songs such as “If I Loved You”, “June Is Bustin’ Out, All Over” and “You’ll Never Walk Alone”, this story touches upon life, love, and family. Brilliant sets, costumes, and an unbeatable cast complement this celebrated Broadway score.

Price: Tickets range from $25.00-$45.00

 

Marine Life Study Cruise

When and Where:  Saturday, August 6 at 1:00pm at the Norwalk Aquarium

Why Go:  Board the research vessel Oceanic and collect and examine animals from all levels of the water column brought on board using a trawl net.

Price: Recommended for children ages 8 and up (under 16 must be accompanied by adult). $20.50. Reservations required.

 

The Peekskill Celebration

When and Where: Friday, August 5-Sunday August 7 at Peekskill’s Riverfront Green from 5:00-9:00pm

Why Go: As the largest happening in Peekskill, the festival showcases the city’s vibrant maritime heritage and reinforces its sense of community. The festival is famous for its dragon boat races, but also includes live bands, a tomato sauce cook-off and new this year—hot-air balloon rides.

 

Wade Preston & The Moving Out Band (Billy Joel Tribute)

When and Where: Sunday, August 7, 6:00pm at the John “Jack” De Vito Gazebo on Veterans Road in Yorktown.

Why Go:  Part of the Town of Yorktown’s Summer Concert Series, this evening will be a tribute to the music of Billy Joel.

Price:  Free

 

Dog Days of Summer Adoption Weekend

When and Where:  Saturday, August 6 and Sunday, August 7 from 10:00am-3:00pm at the Putnam Humane Society in Carmel

Why Go:  If you are thinking about adopting or fostering a dog, this weekend drive to help get the cats and dogs out of the summer heat may just be the perfect opportunity. There will be refreshments, door prizes and giveaways.

Price:  Adoption fees are waived for senior animals

 

Indian Heritage Festival

When and Where:  Sunday August 7, 2011 from 12:30pm-6:30pm at the Kensico Dam in Valhalla

Why Go:  This weekend’s festival celebrates the rich culture of India with ethnic food and a wide variety of music.

Price:  Free

 

 

 

 

via bedford.patch.com

Bedford Hills NY Real Estate | Prepayment Penalties for Bedford Hills NY Homes

Leave a reply

Although not as common as they were just a few years ago, there are still various loan programs that give people an option to have a prepayment penalty.

If you get a mortgage that has a prepayment penalty, it means that you are agreeing in writing that should you “prepay” the mortgage before a specified period of time (usually less than 5 years) then you agree to pay a specified “penalty” to the lender.  Some prepayment penalties require you to agree to the penalty only under certain circumstances (for example, you may not have to pay if you sell your house), others require you to pay the penalty regardless of the reason you prepaid the mortgage.

When a lender agrees to loan you money, they have calculated their expected return on the mortgage and built it into their models, even calculating the period of time that they expect you to have the mortgage before it “prepays.”

Although winning the lottery happens, the most common reason that someone would prepay a loan off before the maturity is that they were able to find a loan offered by another lender with a lower interest rate and refinanced out of their current mortgage and into a new mortgage.

When interest rates drop, many people refinance and prepay numbers go up dramatically.

How To Tell If You Have A Prepayment Penalty On Your Mortgage

The easiest way to find out if you currently have a prepayment penalty is to dig out the paperwork you have from when you signed your final paperwork and look for your mortgage note.  Most often, there will be wording in your note that outlines the prepayment penalty terms.  Sometimes there will also be something called a “Prepayment Penalty Rider,”, but it will vary depending on when you closed your loan and your lender.

Are Prepayment Penalties “Bad”?

Some loans never allow a prepayment penalty. For example, there is never a prepayment penalty on an FHA loan, VA loan or USDA loan.  Does this mean that prepayment penalties are bad?

Prepayment penalties aren’t bad — in fact, I tend to view them as a potentially good thing.  For example, let’s say that in exchange for agreeing to a prepayment penalty a homeowner:

  • Is aware of the prepayment penalty, what it means and what the terms of the prepayment penalty are

and

  • Received a lower interest rate and/or lower closing costs

and

  • Is given the choice of having the prepayment penalty

Then, a prepayment agreement can be a good thing for both homeowner and lender.

The simple reason many people think that prepayment penalties are “bad”?  Because, in the past,  people haven’t been made aware of these three things.

Justin McHood works for Academy Mortgage and is based in Chandler, AZ. He is a contributor to Zillow Blog and has conversations about mortgages whenever he can. Learn more about Justin at http://www.mortgagecommentator.com.

via zillow.com

Bedford NY Real Estate | “Everybody Loves Raymond” Star Re-Lists West Hollywood Condo

Leave a reply

Source: IMDb

Best known for her role as Debra, wife to plaid-wearing funnyman Ray Romano on “Everybody Loves Raymond,” Patricia Heaton and her husband David Hunt also own a production company called FourBoys Films.

The company’s offices are held in a contemporary loft-style condo, which is now listed for $1,050,000.

This isn’t the first time Patricia Heaton’s condo has hit the West Hollywood real estate market. According to the property listing, Heaton and her husband tried to sell the place for $1,195,000 in 2009 and then dropped the price in January 2010 to $1,150,000. The listing was removed in late February 2010.

Over a year later, Heaton is testing the real estate market again with a $100,000 price cut. According to Real Estalker, even this price may be a little too high. A slightly smaller condo in the same building is currently listed for $719,000. Heaton and Hunt purchased their condo in 2007 for $1,145,000 but median West Hollywood home values have dropped 10 percent year-over year, making price cuts on most properties an unfortunate reality.

The 1,640-square foot loft has 2 bedrooms and 2 bathrooms and features a mix of clean and contemporary finishes. The condo has two living areas, custom-built entertainment centers, towering floor-to-ceiling windows and high ceilings. One of the living areas has a modern roll-up glass garage door that opens out to a wrap-around roof deck with views of downtown and the famed Hollywood sign.

The updated kitchen has Carrera marble, a large island with breakfast bar and high-end appliances. A separate office and private ground-level yard complete the condo.

—

Based on a 30-year mortgage at a rate of 4.23 percent and assuming a 10 percent down payment, the monthly mortgage payment for this home is $5,225 per month, as quoted on Zillow Mortgage Marketplace.

The listing is held by Susan Andrews of Hilton & Hyland.

via zillow.com