Monthly Archives: August 2013

Mark your calendars: Key housing reports due out this week | Cross River Real Estate

Home Prices

The Dow Jones faced a wild ride this past week, tumbling 200 points by market close on Friday.

Investors left to deal with the aftermath will rely heavily on several monetary policy and housing reports due out this week.

Wednesday is a busy day for the markets with the Federal Reserve expected to release its latest minutes from the Federal Open Market Committee. Investors needing a more in-depth look on how the committee assessed the future of mortgage-backed securities purchases can visit HousingWire for full coverage. The Fed also kicks off its annual 3-day annual symposium in Jackson Hole, Wyo., on Wednesday.

On the same day, the National Association of Realtors existing-home sales report is due out, followed by the FHFA home price index on Thursday and the government’s latest new home sales report on Friday.

Visit the HW US Economic Calendar to track all these events and more.

 

http://www.housingwire.com/articles/26257-mark-your-calendars-key-housing-reports-due-out-this-week

 

Ugly Houses Boom as Foreclosures Dwindle | South Salem Real Estate

While declining numbers of foreclosures are slowing down most investors, the leading homes-for-cash company is expanding into new territories.

HomeVestors, the number one buyer of houses in the U.S. opened 64 new franchises in the past three months, which is almost double the highest number of franchisees that have previously enrolled in a single quarter.  “This number is remarkable and attests to continued strong interest in real estate investment and the opportunity for investors in today’s market,” said HomeVestors Co-President David Hicks.

Hicks said a lot of their growth is coming from properties in older neighborhoods where houses are 30 years older or more, not newer homes more typical of those that have dominated distress sale inventories.

“Our franchises are buying from homeowners who are selling for a variety of reasons.  Hedge funds don’t have access to those homes and mom and pop investors want to buy in newer neighborhoods,” he said.

HomeVestors’ rapid growth comes amid the housing comeback. “The number of additional new franchisees during the second quarter of 2013 is an indication that investors increasingly believe what we know is true — that there is continued opportunity in the market,” said HomeVestors’ co-president, Ken Channell.  “We are committed to our franchisees to help encourage continued growth and success this year.”

Among the new franchises HomeVestors have added are in new territory for the company such as Cedar Rapids, Iowa; Lower Hudson Valley, New York; and Myrtle Beach, South Carolina. HomeVestors of America, Inc. is also known as the “We Buy Ugly Houses” company.

 

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http://www.realestateeconomywatch.com/2013/08/ugly-houses-boom-as-foreclosures-dwindle/

 

 

 

Fannie reconsiders low downpayment mortgages | Waccabuc Real Estate

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According to the Wall Street Journal, Fannie Mae is in talks to reduce portfolio risk. This gut-check prompted the GSE to consider scaling back on its purchases of minimum downpayment loans. The Wall Street Journal further notes that:

In recent months, a series of changes in the mortgage market have led to an uptick in low-down-payment loans available for sale to Fannie. That prompted a review of the company’s lending policies, and officials are said to be working on a plan to limit the company’s purchases of these loans.

                    Source: Wall Street Journal

 

Construction revival set to boost growth | Katonah Real Estate

 

The housing recovery has sparked a construction revival that, with tight inventory, could boost the economy for years to come, NPR reports.

Construction has been “one of the most important things that’s been missing from this recovery,” and the rebound could contribute a full percentage point of growth to gross domestic product (GDP) over the next three to four years, an economist told NPR.

Source: NPR

– See more at: http://www.inman.com/wire/construction-revival-set-to-boost-growth/#sthash.8d2fX1D0.dpuf

Post-Reno, Bernie Madoff’s Former Duplex Asks $17.25M | Mt Kisco Real Estate

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Location: New York, N.Y.Price: $17,250,000The Skinny: In 2010, less than a year after Bernie Madoff, the mastermind of a Ponzi scheme considered to be the largest financial fraud in this country’s history, was sentenced to 150 years in federal prison, the United States sold off his longtime penthouse on Manhattan’s Upper East Side for $8M. Despite giving the pad a much-needed upgrade (Madoff bought the place in ’84, a fact demonstrated by its floral valances and salmon walls), the buyers are ready to unload the duplex, now asking $17.25M for the 4,000-square-foot unit. What attracted the the current owners, Patsy Kahn and her husband, Alfred—the man who’s credited with bringing Pokemon to the U.S.—in the first place? Possibly the apartment’s 11-foot ceilings, library, or chef’s kitchen, but Patsy insisted in 2010 it was the wraparound terrace, which won them over despite Alfred’s worries, uh, “about the karma.”

 

 

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http://curbed.com/archives/2013/08/23/postreno-bernie-madoffs-former-penthouse-asks-1725m.php

 

Kitchen Remodeling: Step-by-Step | Chappaqua Real Estate

Kitchen Remodeling: Step-by-Step

In many ways, deciding to move forward with your kitchen remodel is the toughest decision you have to make during the project. It’s the decision to proceed that commits you to such a significant project. And while setting your budget, figuring out the materials you want to use and the contractor you want to hire can be challenging, they don’t have to turn your big project into a big headache. Here’s what you can do to ensure your kitchen remodel goes as smooth as possible.

What don’t you like about your kitchen? Odds are there are quite a few things. Maybe it’s as simple as replacing your appliances, cabinets, and counters. Or maybe it means gutting the room and changing the layout. Your goal here is to figure out exactly what would make the space work best for your home and lifestyle, which, if you’re like 49 percent of homeowners, is to make your home more comfortable and livable. Going Here for more information about kitchen remodeling.

While the planning phase can be the longest phase (don’t be surprised if you spend months planning your kitchen) it’s also one of the most enjoyable. This is the time when you can let your imagination run wild as you try to define the design direction you want to go. And while it can be hard to nail down the exact style you want, it’s easy to find inspiration, especially with all of the online resources that are now available. One design tool that we happen to really like is our very own DesignMine. Whether you use DesignMine to find and save photos that inspire you, or prefer to clip images from magazines or other online resources, saving the images and showing them to your contractor is the best way to articulate your vision.

Step Two: Budget

Defining your budget is important enough to warrant its own step, but there’s a good chance that you’ll start hammering out your budget during the planning phase. In fact, some folks prefer setting their budget before they get too deep into the planning, since knowing how much they have to spend affects the scope of their remodel and the materials they choose. However you choose to go about budgeting, we recommend checking out our Cost Guide to get a better idea of how much others in your area are paying for their kitchen remodels. When budgeting, it’s important to remember that you’ll have to factor in the cost of obtaining permits. Each municipality handles the permitting process differently so be sure to do your research.

Armonk’s Mariani Gardens Granted Zoning Text Amendment For Café Plans | Armonk Real Estate

 

Mariani Gardens in Armonk was recently granted a zoning text amendment from the North Castle Town Board to enlarge its café, according to a report by The Examiner News.

The text amendment would allow the Armonk nursery, located on Bedford Road, to enlarge its café from 1,000-square-feet to up to 3,500-square feet, and it would also be able to increase its seating capacity from 16 to 72, the report said. Certain home furnishing and luxury items, like soaps, lotions and jewelry, could also be sold at the business.

The final step in granting the zoning revision is approval from the North Castle Planning Board.

The text amendment was granted after two years of debate and revised proposals, according to the report.

Michael Palladino-Designed Mansion on 218 Acres Asks $15.9M | Bedford Corners Real Estate

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Location: Santa Ynez, Calif. Price: $15,900,000 The Skinny: Designed by architect Michael Palladino, a design partner in Richard Meier & Partners Architects, this sprawling modernist mansion occupies a prime hilltop site amid 218 private acres of Santa Barbara wine country. Completed in 2005, the five-bed, five-bath spread is now listed for $15.9M, along with the aforementioned acreage, a separate guest suite, a two-bedroom cottage, a ranch manager’s house, an eight-stall horse barn, and extensive equestrian facilities. Though the current owner’s identity is disguised by a blind trust, the house is said to have been commissioned by Nancy Englander and Harold Williams, both former executives at the J. Paul Getty Trust and he the former chairman of the Securities and Exchange Commission. That the pair picked Meier’s office for their residence shouldn’t come as much of a surprise, considering Williams headed up the team that selected Richard Meier as the architect of the Getty Center.

 

 

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http://curbed.com/archives/2013/08/22/michael-palladinodesigned-mansion-on-218-acres-asks-159m.php

 

 

 

Grow Your Best Fall Garden Vegetables: What, When and How | Pound Ridge Real Estate

Right now, before you forget, put a rubber band around your wrist to remind  you of one gardening task that cannot be postponed: Planting seeds for fall  garden vegetables. As summer draws to a close, gardens everywhere can morph into  a tapestry of delicious greens, from tender lettuce to frost-proof spinach, with  a sprinkling of red mustard added for spice. In North America’s southern half,  as long as seeds germinate in late July or early August, fall gardens can grow  the best cabbage, broccoli, and cauliflower you’ve ever tasted. In colder  climates it’s prime time to sow carrots, rutabagas, and turnips to harvest in  the fall. Filling space vacated by spring crops with summer-sown vegetables will  keep your garden productive well into fall, and even winter.

Granted, the height of summer is not the best time to start tender seedlings  of anything. Hot days, sparse rain, and heavy pest pressure must be factored  into a sound planting plan, and then there’s the challenge of keeping fall  plantings on schedule. A great way you can get rid of pests and still add a decoration to your garden is to get a pest-free bird feeder from ballachy.com. But you can meet all of the basic requirements for a  successful, surprisingly low-maintenance fall garden by following the steps  outlined below. The time you invest now will pay off big time as you continue to  harvest fresh veggies from your garden long after frost has killed your tomatoes  and blackened your beans.

1. Starting Seeds

Count back 12 to 14 weeks from your average first fall frost date (see “Fall  Garden Planting Schedule” below) to plan your first task: starting seeds of  broccoli, Brussels sprouts, cabbage, cauliflower, and kale indoors, where  germination conditions are better than they are in the garden. Some garden  centers carry a few cabbage family seedlings for fall planting, but don’t expect  a good selection. The only sure way to have vigorous young seedlings is to grow  your own, using the same procedures you would use in spring (see Start Your Own Seeds). As soon as the seedlings are three  weeks old, be ready to set them out during a period of cloudy weather.

If you’re already running late, you can try direct-seeding fast-growing  varieties of broccoli, kale or kohlrabi. Sow the seeds in shallow furrows  covered with half an inch of potting soil. Keep the soil moist until the  seedlings germinate, then thin them. The important thing is to get the plants up  and growing in time to catch the last waves of summer heat.

When is too late? The end of July marks the close of planting season for  cabbage family crops in northern areas (USDA Zones 6 and lower); August is  perfect in warmer climates. Be forewarned: If cabbage family crops are set out  after temperatures have cooled, they grow so slowly that they may not make a  crop. Fortunately, leafy greens (keep reading) do not have this problem.

2. Think Soil First

In addition to putting plenty of supernutritious food on your table, your  fall garden provides an opportunity to manage soil fertility, and even control  weeds. Rustic greens including arugula, mustard, and turnips make great  triple-use fall garden crops. They taste great, their broad leaves shade out  weeds, and nutrients they take up in fall are cycled back into the soil as the  winter-killed residue rots. If you have time, enrich the soil with compost or  aged manure to replenish micronutrients and give the plants a strong start.

You can also use vigorous leafy greens to “mop up” excess nitrogen left  behind by spring crops (the organic matter in soil can hold quite a bit of  nitrogen, but some leaches away during winter). Space that has recently been  vacated by snap beans or garden peas is often a great place to grow heavy  feeders such as spinach and cabbage family crops. When sown into corn stubble,  comparatively easy-to-please leafy greens such as lettuce and mustard are great  at finding hidden caches of nitrogen.

3. Try New Crops

Several of the best crops for your fall garden may not only be new to your  garden, but new to your kitchen, too. Set aside small spaces to experiment with  nutty arugula, crunchy Chinese cabbage, and super-cold-hardy mâche (corn salad).  Definitely put rutabaga on your “gotta try it” list: Dense and nutty “Swede  turnips” are really good (and easy!) when grown in the fall. Many Asian greens  have been specially selected for growing in fall, too. Examples include ‘Vitamin  Green’ spinach-mustard, supervigorous mizuna and glossy green tatsoi (also  spelled tah tsai), which is beautiful enough to use as flower bed edging.

As you consider the possibilities, veer toward open-pollinated varieties for  leafy greens, which are usually as good as — or better than — hybrids when grown  in home gardens. The unopened flower buds of collards and kale pass for the  gourmet vegetable called broccolini, and the young green seed pods of immature  turnips and all types of mustard are great in stir-fries and salads. Allow your  strongest plants to produce mature seeds. Collect some of the seeds for  replanting, and scatter others where you want future greens to grow. In my  garden, arugula, mizuna and turnips naturalize themselves with very little help  from me, as long as I leave a few plants to flower and set seed each year.

With broccoli, cabbage, cauliflower, and their close cousins, hybrid  varieties generally excel in terms of fast, uniform growth, so this is one  veggie group for which the hybrid edge is a huge asset. Breeding work is  underway to develop better open-pollinated varieties for organic growers, but  for now, trusted hybrids such as ‘Belstar’ broccoli, ‘Gonzales’ cabbage or ‘Snow  Crown’ cauliflower are usually the best choices.

Finally, be sure to leave ample space for garlic, which is planted later on,  when you can smell winter in the air. Shallots, multiplying onions, and  perennial “nest” onions are also best planted in mid-fall, after the soil has  cooled. In short-season areas these alliums are planted in September; elsewhere  they are planted in October.

Read more: http://www.motherearthnews.com/print.aspx?id={E12AADD6-B599-46F9-AF14-D80638639472}#ixzz2dMdm4t2S

Bedford Central Schools, Teachers’ Union Reach Deal | Bedford Real Estate

 

 

The Bedford Central School Board and the Bedford Teachers’ Association have reached a tentative agreement on a new three-year deal.

The deal will be retroactive to July 1 and continue through June 30, 2016, according to patch.com

Based on the new collective bargaining agreement, current teachers will receive “modified compensation,” though exact numbers were not announced. New teachers, however will be subject to a new compensation framework.

Current teachers on “step increases” will receive partial increases for the 2013-2014 and 2014-15 school years. A full step increase won’t take place until the 2015-2016 school year and will involve an off-schedule payment.

The new compensation structure is designed to comply with the state-mandated tax levy cap. The tax levy cap limits tax revenue increases to the lesser of 2 percent or inflation.

The previous four-year contract expired June 30.

Though the tentative agreement has been reached, it still requires formal approval. The union will vote on the deal in September; the school board will vote after the union.

 

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http://bedford.dailyvoice.com/schools/bedford-central-schools-teachers-union-reach-deal