Daily Archives: June 7, 2013

Police Advisory: Two Chappaqua Burglaries Thursday | Chappaqua Daily Real Estate

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CHAPPAQUA, N.Y. — The following is an advisory from the New Castle police department.

New Castle Police are investigating two burglaries that were reported on Spring Valley Road. One house was entered through an unlocked door off of a second floor deck. The other house had a forced entry to a rear door. Electronic equipment and jewelry are reported stolen.

The burglaries occurred on June 6, 2013 between 11:30AM and 4:00PM. Both homes were unoccupied at the time of the burglaries. New Castle are investigating.

Anyone with information should call 914-238-4422.

Contact Information:

Charles Ferry

Chief of Police

914-238-4422

cferry@town.new-castle.ny.us

 

Police Advisory: Two Chappaqua Burglaries Thursday | The Chappaqua Daily Voice.

Flash Flood Watch Issued For Mt. Kisco Friday Morning | Mt. Kisco Real Estate

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WESTCHESTER COUNTY, N.Y. — The National Weather Service issued a Flash Flood Watch Thursday afternoon for Westchester County.

Flash flooding is possible with widespread heavy rainfall coming Friday and into Saturday ahead of Tropical Storm Andrea. The flash flood watch went into effect just after 2 p.m. Thursday and is expected to last until 2 p.m. Saturday, according to the NWS.

The NWS previously issued a hazardous weather outlook for Westchester County for Friday with heavy rainfall and urban and small stream flooding possible. Rain totals are predicted to be 2 to 2.5 inches or more from the low pressure system and its extensive tropical moisture, according to a previous report.

For more on Tropical Storm Andrea, residents are asked to visit the National Hurricane Center website. Residents can also visit FEMA’s website to learn more on how to prepare for hurricanes and tropical storms.

 

Flash Flood Watch Issued For Mt. Kisco Friday Morning | The Mt. Kisco Daily Voice.

What To Do This Weekend In And Around Bedford | Bedford Real Estate

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CHAPPAQUA, N.Y. – Wondering what’s going on this weekend in and around Chappaqua, Mt. Kisco, Bedford or Armonk? The Daily Voice has your back! Here are some events set to take place this weekend around your town. For a more extensive listing, please visit our Events page.

Friday, June 7

Art Exhibit: Photographs from Robert Pincus will be shown all day in the Mount Kisco Public Library. 100 East Main Street, Mount Kisco.

Game Club: 3 p.m. Middle and high school students are welcome to play board games. North Castle Public Library, 19 Whippoorwill Road East, Armonk.

Movies in Millwood Park: 8:30 p.m. The first annual Movies in Millwood Park will begin with “Happy Feet” under the stars next to Rocky’s deli. 235 Saw Mill River Road.

Katonah Fire Department Carnival: 6 p.m. to 10 p.m. Tickets: $1.25 each; 22 tickets for $25; 36 tickets for $40 Kiddie rides 2 tickets, all other rides 3 tickets. Sat. June 8th ride all afternoon for $22 from 1-5 pm.

Chappaqua Library Fabulous Used Book Sale: 10 a.m. to 8 p.m. Friends of the Chappaqua Library will hold its annual used book sale in the Chappaqua Library Theater. 195 South Greeley Avenue.

Saturday, June 8

Art Exhibit: Photographs from Robert Pincus will be shown all day in the Mount Kisco Public Library. 100 East Main Street, Mount Kisco.

Learn Tai Chi in 2013: 10:30 a.m. Make tai chi your new hobby in 2013 at the North Castle Public Library with certified Feldenkrais movement and tai chi instructor Lawrence Attile. 19 Whippoorwill Road East, Armonk.

Chappaqua Farmers Market Outdoor Season: 8:30 a.m. to 1:30 p.m.  The Chappaqua Farmers Market welcomes shoppers for their third season with new offerings.  The market’s spring/summer season takes place outdoors at the Chappaqua train station.

Chappaqua Library Fabulous Used Book Sale: 10 a.m. to 5 p.m. Friends of the Chappaqua Library will hold its annual used book sale in the Chappaqua Library Theater. 195 South Greeley Avenue.

Katonah Fire Department Carnival: 1 p.m. to 11 p.m. Tickets: $1.25 each; 22 tickets for $25; 36 tickets for $40 Kiddie rides 2 tickets, all other rides 3 tickets. Sat. June 8th ride all afternoon for $22 from 1-5 pm.

Sunday, June 9

Learn and Play Mah Jongg: 1 to 2:30 p.m. For those who don’t know how to play Mah Jongg – or don’t even know what it is – this is your chance to find out. Downstairs Children’s Room in the North Castle Public Library, 19 Whippoorwill Road E., Armonk.

Chappaqua Library Fabulous Used Book Sale: 1 p.m. to 3 p.m. Friends of the Chappaqua Library will hold its annual used book sale in the Chappaqua Library Theater. All remaining books on Sunday are FREE. 195 South Greeley Avenue.

 

What To Do This Weekend In And Around Bedford | The Bedford Daily Voice.

Rising prices widen homeownership availability gap | Mount Kisco Real Estate

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Across all 100 metros, less affordable markets tend to have high price gains. The correlation between the year-over-year price gain and the mortgage-payment-versus-wage measure is 0.3 (statistically significant at the 5% level). That means that homeownership affordability is becoming more unequal across the U.S. — the gap between more affordable and less affordable markets is growing. To see what this growing gap means for the housing market, read the full blog post byTrulia.

 

Rising prices widen homeownership availability gap | HousingWire.

List of improving housing markets grows | North Salem Real Estate

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After dipping slightly in May, the number of U.S. housing markets on the mend increased by five, bringing the total to 263 in June, according to the National Association of Home Builders/First AmericanImproving Markets Index. 

The IMI, which includes entrants from all 49 states and the District of Columbia, reveals metropolitan areas that have shown improvement in housing permits, employment and home prices for at least six consecutive months. 

This month, 29 new markets were added, while 24 were dropped from the list. New entrants included Salinas, Calif.; Sioux City, Iowa; Chicago; Topeka, Kan.; Baton Rouge, La.; Laredo, Texas; and Philadelphia, Pa. 

“This is the fifth consecutive month in which the IMI has designated more than 70% of U.S. metros as improving,” observed NAHB Chairman Rick Judson. 

He added, “While that’s a good sign that the housing recovery is on solid footing, we know that various challenges are slowing its progress — including continuing issues with credit availability for builders and buyers, as well as appraisals that aren’t keeping up with the rising cost of construction.” 

According to NAHB Chief Economist David Crowe, it is normal to see some seasonal fluctuations regarding the IMI list. “Meanwhile, it’s worth noting that the number of improving markets is now more than three times what it was in June 2012,” he noted.

 

List of improving housing markets grows | HousingWire.

Rent from Steven Spielberg for a mere $125,000 a month | Waccabuc Real Estate

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Sure, it sounds like a lot of money to spend every 30 days on just 1.08 acres, but the spread, which includes 130 feet of beach frontage, a massage room, and a screening room (and, let’s face it, Spielberg has been known to go hog wild with his screening rooms), looks like a downright bargain compared to the houses down the block, writes AOL Real Estate.

 

Rent from Steven Spielberg for a mere $125,000 a month | HousingWire.

Freddie: Borrowers strengthen their household budgets with refis | Cross River Real Estate

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Borrowers who refinanced their homes in the first quarter will save approximately $7 billion in interest over the next 12 months, Freddie Mac said in its first-quarter 2013 quarterly refinance report.

The enterprise’s quarterly report is culled from data on sample properties in which Freddie Mac has funded two successive conventional, first-mortgage loans, with the second being a refinancing.

The overall data shows consumers strengthening their balance sheets by using low mortgage rates to move into reduced monthly payments. In other cases, they are refinancing into shorter loan terms or obtaining a safer long-term, fixed-rate mortgage.

Freddie says in the first quarter $8.1 billion in net home equity was cashed out during the refinancing of conventional prime-credit mortgages. This figure is virtually unchanged from the previous quarter, but substantially down from the peak cash-out refinance volume of $84 billion in the second quarter of 2006.

Of those borrowers who refinanced during the first quarter, 28% shortened their loan terms, 68% kept the same loan terms as the loan they paid off and 3% chose to lengthen their loan terms, Freddie Mac said.

About 85% of those who refinance a first-lien home mortgage maintained the same loan amount after refinancing their mortgage or lowered their principal balance by putting more down at the closing table.

About 95% of refinancing borrowers selected a fixed-rate loan in 1Q.

In fact, 87% of borrowers with a hybrid ARM selected a fixed-rate loan when going through a refi in the first quarter.

Meanwhile, Freddie says the Home Affordable Refinance Program has helped 2.5 million borrowers refinance since its inception through March of 2013.

HARP loans represented more than 20% of the first-quarter refinance loans acquired by Freddie Mac and Fannie Mae.

For all those loans refinanced through HARP in 1Q, the median depreciation in property value hit 28%, with the prior loan having a median age of 6 years.

 

Freddie: Borrowers strengthen their household budgets with refis | HousingWire.

How rising mortgage rates may affect the recovery | South Salem Real Estate

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The news of rising rates has caused bond investors to begin selling out of their 10-year Treasury positions, driving yields for these bonds above 2%. Since mortgage rates correlate closely with Treasury yields, they have followed suit, rising about a quarter of a percentage point in just a week, writes Forbes.

“In Middle America I don’t see much impact since homes are so affordable,” explains Lawrence Yun, chief economist of National Association of Realtors. “The more expensive coastal regions… is where one will begin to feel the first decline or impact.”  

Yun suspects that California metro areas and east coast hubs like Boston, New York and Washington D.C. could begin to experience slackening sales because low-interest monthly mortgage payments in these relatively pricier places have helped make homes seem more affordable to more buyers despite the fact that relative to income, principal amounts are still expensive.

 

How rising mortgage rates may affect the recovery | HousingWire.