Daily Archives: November 6, 2013

Astorino Wins Second Term As Westchester County Executive | Bedford NY Real Estate

Incumbent Rob Astorino has won a second term as Westchester County Executive.

Astorino, a Republican, leads Democratic challenger Bramson 55 percent to 45 percent with 81 percent of precincts reporting.

“The people of Westchester have spoken today and I like what they said,” Astorino told his supporters at the Crowne Plaza in Westchester in a speech that began at 10:55 p.m.

Astorino’s victory for a second term capped an often contentious campaign that featured numerous verbal barbs.

Astorino thanked Bramson and also called New York City Mayor Elect Bill DiBlasio to congratulate him on his election.

“They say there are two New York’s,” Astorino said, “but there is just one Westchester. We have to focus on what brings us together.

“We have to find a balance between what we want and what we can afford. We have to get a grip on overspending and overtaxing.”

Astorino’s victory speech came moments after Bramson, the mayor of New Rochelle, conceded at the Westchester Hilton in Rye Town.

In other county-wide races, incumbent Tim Idoni holds a 53 percent to 47 percent lead over Mary Beth Murphy in the battle for county clerk with 81 percent of precincts reporting.

Democrat David Everett leads Republican Montgomery Delaney 60 percent to 40 percent in the race for County Court judge, also with 81 percent of precincts reporting.

 

 

 

http://whiteplains.dailyvoice.com/politics/astorino-wins-second-term-westchester-county-executive

More purchase originations mean more mortgage fraud | Bedford Corners Real Estate

Market participants are fully aware of the beating refinance volumes are currently taking as the majority of mega banks continue to cut jobs by the thousands.

For those who believe the drop in refi volumes is all but a small small bump in the road on the way through a housing recovery, you’ve got another thing coming.

Economists at the Mortgage Bankers Association last week popped that bubble after announcing their predictions for refis to drop to $463 million in 2014.

Purchase originations are expected to rise from only $661 billion to $723 billion, according to MBA data.

If we take into account another two years, originations will modestly grow to $796 million in 2015 — that’s half of what they were during the housing heyday.

Everyone knows that the more originations in coming up years means more options for mortgage fraud risk. But how much will actually take place?

Interthinx created a specialized info graphic (feature below) for HousingWire to answer this very question.

The company revealed that purchases have a higher risk of fraud, with California, Florida and Illinois leading the way as the riskiest states.

 

 

http://www.housingwire.com/blogs/1-rewired/post/27812-infograph-more-purchase-originations-mean-more-mortgage-fraud

 

Restoration Rallies a 1790 Stone Springhouse | Bedford Hills Real Estate

Preservationists, rejoice. This 18th-century springhouse once appeared dilapidated beyond repair, but it has been restored to its former glory, thanks to the homeowners, the architects at Peter Zimmerman Architects and the builders at Orion Construction. Chipping away at the stucco plastered over the original Pennsylvania fieldstone, they uncovered a gem that adds beauty to the pastoral property. Now the building serves many functions, including pool house, home office and guesthouse.
Houzz at a Glance Who lives here: This is an outbuilding for a couple with lots of grandchildren living nearby. Location: Villanova, Pennsylvania Size: About 900 square feet
Photography by Tom Crane Photography

Springhouses were small structures commonly built over a natural spring for food storage in the days before refrigerators. The spring kept the building’s temperature cool, which prevented dairy foods and meat from spoiling. Zimmerman believes this one was built around 1790.
The actual springhouse portion of the structure was on the right; the larger portion on the left was likely inhabited by a tenant farmer. The springhouse portion’s roof was not watertight and had collapsed. Luckily, the roof on the left side had held, making it possible to preserve the beams and wood ceilings.
AFTER: Here is how the springhouse looks today. The spring under the section on the right still exists and feeds the stream and wetlands down the hill. New vapor barriers prevent any dampness or mold issues. The entire structure has a new cedar shingle roof.
At the same time that they worked on the springhouse, workers graded the land for a new pool and a gentle pathway that connects to the main house higher up. The large stepping stones are salvaged curbs from West Chester, Pennsylvania.
Taking out and regrading what remained of an old concrete watering hole for dairy cows was also part of the project. The new topography slows down the runoff water, which protects the stream and wetlands below from pollutants.
The stucco had to be removed with great care to preserve the fieldstone exterior’s original patina. Workers used pneumatic chippers to take it off, then carefully cleaned out the mortar, gave it a soft wash and applied new mortar.
AFTER: Architect Peter Zimmerman believes the springhouse predates the Italianate main house by 50 years or more. Now that the stucco is gone and the springhouse’s stone facade has been restored, the two buildings have a stronger relationship.
As you can see from this startling before photo, the property around the springhouse had extensive Pennsylvania fieldstone walls. Some portions were in need of repair, and some needed to be temporarily removed during construction and grading, then rebuilt. In addition, the team also built some new stone walls that fit in seamlessly with the originals.
AFTER: This portion of the system of stone walls is new. Zimmerman says there are four important aspects in matching a new stone wall to an antique one:

  • Matching the stone geologically. In this case all of the stone is local Pennsylvania fieldstone.
  • Copying the patterning of the stones. The walls here, original and new, are called random rubble stone walls.
  • Mimicking the style of mortar. A raked-back joint method with a brushed finish was used here.
  • Matching the color of the mortar. The team created a formula that mimicked the original mortar color.

 

http://www.houzz.com/ideabooks/19479149

 

How to Make the Most of Your Photos | Katonah NY Real Estate

The 2 million-plus stunning photos featured on Houzz manage to inspire, instruct and encourage all at once. The power of these photos for both professionals and homeowners is undeniable — but do you know how to take full advantage of it?
We spoke with five designers who’ve learned to harness the potential of photos on Houzz. Take a peek at their strategies — including choosing the right photo size, picking keywords and answering questions — to learn about what makes a photo popular and see how you can make the most out of your own photos on Houzz.
Related: How to Find a Designer or Architect Using Photos on Houzz

Quality. A photo’s quality has a huge impact on its visibility. “Everyone on the Houzz site makes or designs a visual product, so having really nice photos that show off a variety of work is key,” says Caitlin Walker of Mercury Mosaics. “You can create a beautiful design and have bad photos that don’t do it justice. Reward your hard work with good photos!”
Houzz always recommends uploading high-resolution photos taken by a professional photographer. Bigger is better: High-resolution photos with a minimum width of 1,000 pixels look best and will likely get many more views. And a professional photographer can make each image light, bright and fresh. (Don’t forget to credit the photographer in your photos.)
“It’s really taught me how critical it is to take proper and professional photos of projects,” says designer Jason Urrutia. “It’s an investment but well worth the cost. It’s another step of branding — it says that you mean business, you care about your project and that your design is to be taken seriously.”
Variety. Upload a diverse portfolio of work, from your most amazing projects to the simpler but still stylish spaces.  Include a variety of shots, from full room shots to details. Even open drawers and take photos of the insides! You’d be surprised how popular those photos are. Don’t underestimate the selling power of your simpler designs — sometimes those are the most inspiring for homeowners.
Style. Every year Houzz puts together a series of ideabooks that highlight the most popular photos of that year, according to how often they’ve been added to users’ ideabooks. And every year we spot certain consistencies in the most popular images: They’re chock-full of take-home ideas. Tracy Kundell found this to be true for the bathroom photo shown here — one of the most popular on the site, added to more than 255,000 ideabooks. “Almost everyone has a home with a bathtub that can be converted, such as this space,” she says. “More and more people prefer larger showers to shower-tub combinations. This layout is a very common builder layout, too.”
Work with your photographer to highlight your best work in beautiful photos that will show clients what you’ve got. Make sure your identity as a designer is coming through and that each photo doesn’t just look great, but shows potential clients how you can make their style shine through, too.
How Do Great Photos Pay Off?
The more popular a photo becomes on Houzz, the easier it is to find. Houzzers may see it in another Houzzer’s favorite photos, in a featured ideabook or on the Houzz homepage. How is this beneficial to pros? It’s more eyeballs on your work — homeowner eyeballs, to be exact. A great photo on Houzz can directly result in client referrals.
Architect John Mattingly found this to be true for the incredibly popular bedroom shown here, added to more than 200,000 ideabooks. Many designers and homeowners have contacted him about some of the room’s components or the entire project. He’s also sold a few furniture items that he custom designed for this particular home.
When Urrutia’s popular bedroom photo (the second photo above) was added to 180,000 ideabooks (and counting), interest in his business increased. “I’ve heard tons of comments from clients about this photo and this room in particular,” he says.

Mind-Boggling Former Real World House Asks $22M | Cross River Real Estate

Now this is a Tuesday Townhouse. It’s got a wacky history, quirky decor, and a sizable ask of $22 million—plus, it was the filming location for the tenth season of The Real World, after which the owner opened it up for other film and photo shoots and events. The space is divided into several units, according to the brokerbabble, including a triplex with a 40-foot atrium, a solarium, and a roof garden; a floor-through apartment and a separate studio below; and commercial space on the ground floor, with a “prohibition-style” speakeasy “well known in event circles and constantly rented.” And that’s just the present-day use of the space.

Investors Have Doubled Purchases Over 2012 | North Salem Real Estate

Though most observers forecast rising home prices would drive investors out of the market for single family rentals, that fact is that to date investors have purchased more homes than they did in all of 2012 or 2011.

Investors have purchased more than 370,000 properties so far in 2013, already more than in either of the previous two full years according to a new investor insight report released today by RealtyTrac.

The report also found that:

  • Investors have purchased more than $1 trillion in US real estate since 2011. Fifty-four percent were all-cash;
  • Fifty-seven percent of investor purchases re-sold, only 1 percent re-sold by 1,000+ purchasers. Investors with 1,000+ purchases bought 36 percent of properties as foreclosures
  • Out of the more than 950,000 purchases totaling more than $1 trillion made by investors since 2011, 54 percent were all-cash purchases. When the data is filtered for just entities that purchased at least 1,000 properties, the all-cash percentage skyrockets to 93 percent.
  • Investors have purchased more than 370,000 properties so far in 2013, already more than in either of the previous two full years.
  • The majority (54 percent) of properties purchased by investors were underwater but not in foreclosure. Meanwhile 24 percent of properties purchased by investors were in foreclosure or bank-owned, and 23 percent were a regular, equity purchases.
  • Among entities that purchased at least 1,000 properties during the three-year period, 36 percent were in some stage of foreclosure (22 percent auction alone), while 37 percent were underwater and 27 percent were regular equity sales.
  • Among all investor purchases during the time period, 57 percent have subsequently been re-sold, but only 25 percent of properties have been re-sold by entities purchasing at least 100 properties, and only 1 percent of properties have been re-sold by entities purchasing at least 1,000 properties.

RealtyTrac’s report, Real Estate Investor Purchase and Finance Patterns: 2011 to 2013, looks at a number of investor habits relating to real estate purchases since 2011, including the volume of properties purchased, breakdown of cash versus financed purchases, property situation (distressed, non-distressed, underwater etc.), investor purchases by property value, and number of investor-purchased properties that have since resold.

“The new investor insight report is the first of its kind and offers customers an exclusive look into investor decision making that has never been done on this scale before,” said Daren Blomquist, vice president at RealtyTrac. “We examined in-depth a variety of factors from cash sales to lender financing that impact real estate investing and offers key insight that no one else in the market can deliver.”

This report features purchasing activity of real estate investors across the U.S., identifying key variables by state and quarter within the last three years. The report identifies an investor as any person or entity that purchased three or more properties within a 12-month timeframe and provides key insights into the transactions made by investors over this time period, which was marked by the U.S. housing market moving from full distress mode to full recovery mode including.

Key metrics covered by the Investor Insight report:

  • Transaction by Financing Type identifies by investor name how many properties were purchased with 100 percent cash, 100 percent finance, mixed cash & finance, or unknown along with the amount identified for each category.

 

 

http://www.realestateeconomywatch.com/2013/10/investors-have-doubled-purchases-over-2012-or-2011/

Supporting a Wide-Span Floor With Structural Steel | Waccabuc Real Estate

When my client described how he wanted to convert his home’s existing two-car garage into a spacious new living room, I knew it would be a great project for my design/build firm. Measuring 34 feet deep by 28 feet wide, the garage space was a blank slate — little more than an unheated box with a concrete slab for a floor. The garage had a full-height attic that he was planning to convert into a master suite, and the first floor had plenty of space for a nice living room and his many collectibles. The only problem was that the wide-open floor plan he wanted wouldn’t be possible until we figured out a way to support the second floor’s main girder, which was propped up by a steel I-beam running down the center of the garage (see Figure 1).

To transform this garage (top) into living space with an open floor plan, the author replaced the existing steel I-beam and supporting column with a framework of custom-fabricated decorative steel (bottom).

When we started the design process — specifically, figuring out how to create a unique space and support the second floor without posts or columns — I immediately thought of local steel fabricator and sculptor John Rubino, whose decorative steel beams are on display in various residential and commercial structures in northern Vermont. Although these structural elements function much like ordinary structural red iron, the stylized beams look anything but ordinary.

With the client’s go-ahead, John and I worked out a plan: We would support the top half of the building without intermediate posts and simultaneously create a living space using exposed steel framing that would become an integral part of the overall design. While John spent about a month fabricating the steel in his Morrisville, Vt., shop (see “Fabricating a Custom steel Beam“), my crew and I readied the building for its new structural elements.

The steel design was relatively simple — two upside-down U-shaped frames connected to another beam running perpendicular to them at the center. Designed with a graceful sweeping curve, the connecting beam would replace the garage’s existing center I- beam and eliminate the need for supporting columns; it would also add a sculptural element to the space.

Getting to Work

Before delivery of the steel, we built a pair of 2×4 walls that would temporarily support the second floor while we removed the existing steel I-beam and posts. Even though we had to frame new openings for a 6-foot patio door and several windows, we purposely left the existing garage-door openings in place to make it easier to bring the steel inside.

About a month after finalizing the plan, John backed his delivery truck into the garage and we lifted the beams off with a chain hoist (Figure 2). John had welded on lifting points near the center span of each beam, to help keep the components nice and level as they went up. This was good thinking, because this steel was meant to be exposed and had been spray-painted and finished with a water-based clear finish called Safecoat Acrylacq (AFM, 619/239-0321, www.afmsafecoat.com). This coating is pretty tough, but we still had to handle the steel with care so as not to scratch it. The lifting points made the process a lot easier and safer.

 

 

http://www.jlconline.com/framing/supporting-a-wide-span-floor-with-structural-steel.aspx

Billionaire Activist Wants $48M for Award-Winning Penthouse | Mt Kisco Real Estate

[Photos via BHS.]
22 images

Back in 2002, billionaire activist Jon Stryker snapped up two adjacent apartments atop the Beaux-Arts Prasada on Central Park West for $12.8 million, setting what was then an Upper West Side record for the the most expensive single-occupancy apartment purchase. Well, times, they have a-changed, and prices, they have a-soared. And Stryker just listed the combined, renovated triplex penthouse—clocking in at 5,600 square feet with five bedrooms and six baths, plus two levels of outdoor space, exposures in every direction, and Central Park views—for a whopping $48 million (h/t The Real Estalker.)

Though he’s trained as an architect himself in his native Michigan, where he is the heir to the fortune of a medical-equipment firm that bears his surname, Stryker currently devotes his time to philanthropy as one of the largest donors to gay and lesbian charities and conservation groups. Since he’s busy getting a species of monkey named after him and fighting for social justice and all, Stryker tapped notable design firm Shelton, Mindel & Associates to carry out the makeover. The units apparently came with, erm, “nymph sconces and endless stained-glass windows.” Eleven years later, the sprawling apartment still retains some classic touches, like detailed millwork and coffered ceilings, but the vibe is decidedly updated. Earning an award for its interiors from the American Institute of Architects, a 2010 jury deemed it “beguilingly timeless” and “masterfully done.” Agree or disagree?

If the photos don’t speak for themselves, there’s this from listing agent Brown Harris Stevens:

Featured in Architectural Digest, this unique mansion in the sky is in mint condition and features soaring ceilings, pristine hardwood flooring and expertly crafted millwork throughout. There are 4-5 bedrooms, 6 baths, 45 windows and 2 fireplaces. A stately foyer leads to a 19-foot gallery opening onto a dramatic corner entertaining expanse, with a fireplace a double-height coffered ceiling, a mezzanine balcony and a series of eight 7 windows capturing breathtaking direct Park views. …  Upstairs, there is a magnificent altelier, with 3 walls of floor-to-ceiling windows, limestone flooring. and French doors leading onto an extraordinary private decked terrace of approximately 3,000 sf with attractive plantings. A staircase from the terrace leads to a second, tower rooftop terrace of approximately 480 square feet, offering 360 degree views.

Stryker has plenty of other real estate holdings in Michigan, Palm Beach, and upstate New York, so perhaps he was ready to sell while the market is going gangbusters in order to harness some more millions for his charity work. · Listing: 50 Central Park West [Brown Harris Stevens] · Floor Plan Porn: Jon Stryker [The Real Estalker] · Historic Central Park Triplex [Shelton, Mindel & Associates] · 2010 INSTITUTE HONOR AWARDS FOR INTERIOR ARCHITECTURE RECIPIENT: Historic Central Park West Residence [AIA] · West Side Record [NYO]