Monthly Archives: November 2013

Big Reveal: How Much for This Waterfront Noyack Four Bed? | Bedford NY Homes

Address: 58 Noyac Harbor Rd, Sag Harbor, NY 11963 Asking Price: $2.495M Close. Very close. But no cigar! The most popular guess for this listing was $2.795M, which is 300K more than the actual price. (Bargain!) You folks liked this serene updated waterfront cottage, though one commenter noted that the property is “just a little more congested than those perfect photos.” · Waterfront Beach Cottage [Town&Country] · How Much for This Waterfront Noyack Four Bed? [Curbed Hamptons]

http://hamptons.curbed.com/archives/2013/11/08/big_reveal_how_much_for_this_waterfront_noyack_four_bed.php

Palatial Post-Modern Estate by Michael Graves Asks $5.8M | Pound Ridge Real Estate

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Have a nomination for a jaw-dropping listing that would make a mighty fine House of the Day? Get thee to the tipline and send us your suggestions. We’d love to see what you’ve got.

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Location: Livingston, N.J. Price: $5,800,000 The Skinny: Looking for a home that combines the welcoming feel of a corporate campus with the homey decor of an airport hotel in a second tier convention city? Good news! This Michael Graves design in Livingston, N.J., has all those bases covered. From the faded tan exteriors to the teal blue walls of the indoor gym, the color palette of this seven-bedroom, seven-bathroom, 16,000-square-foot paean to corporatist post-modernism is spot on. The atrium will remind you of the lobby of your office building, the piano lounge will bring back fond memories of that time you spent a week in Oklahoma City on business, and the ubiquitous flat-screen TVs are just one part of the “exquisite appointments” the brokerbabble brags about. All teasing aside, the place brags some cool curved walls, huge windows, and a prime location “atop the highest point in [New Jersey’s] Bel Air.” Outside? A lawn, swimming pool, and jungle gym. The owners are asking $5.8 M for what the listing describes as a “must see for discriminating clients.”

More photos, this way >>

http://curbed.com/archives/2013/11/08/palatial-post-modern-estate-by-michael-graves-asks-58-m.php

Once $95M, 15 CPW Combo Now Asking a Paltry $70M | Bedford Corners Real Estate

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The tale of combination unit #35AB—the massive, 6,000-square-foot apartment owned by steel tycoon Leroy Schecter—at 15 Central Park West is well-documented, but it just got a little more interesting, now that its back on the market asking $70 million.

Schecter bought units A and B at 15 CPW for $18.9 million a few years back, renting out one of them to A-Rod before allowing unit A to assimilate all in its path like the terrifying, insatiable Borg, against which resistance is futile.

In August 2012, the combined Borg-unit hit the market asking an insane $95 million, where it remained unsold for almost a year, until last April, when its price decreased by $10 million. Now, after switching brokerages, its ask has been chopped yet again, settling at its current “still-absurd-but-slightly-less-insane-because-that-is-somehow-normal-in-New-York-these-days” $70 million.

Its been a rollercoaster ride, but will that $25 million pricechop be enough to sell this place? · Listing: 15 Central Park West #35AB [Brown Harris Stevens] · Leroy Schecter coverage [Curbed] · 15 Central Park West coverage [Curbed]

Tips real estate agents can use to qualify for ‘Obamacare’ credits | Chappaqua Real Estate

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Last week, a 57-year-old Florida Realtor named Dianne Barrette got a good deal of publicity — not because of her real estate activities, but because of health insurance.

It turned out that she was one of hundreds of thousands of Americans who have been informed by their health insurers that their plans will not be renewed for 2014 because they don’t comply with the new “Obamacare” requirements.

Her insurer, FloridaBlue, offered her a new plan, but told her the premium would be $591 a month, far more than the approximately $50 a month she had been paying.

Barrette, who makes $30,000 a year, could not pay for such a plan. She soon became the poster child for the anti-”Obamacare” crowd, making appearances on Fox News and other media. However, when reporters dug a little deeper into Barrette’s story, the truth turned out to be a quite different than initially reported: Rather than being an “’Obamacare’ victim,” she was an “Obamacare” beneficiary.

Because of her relatively modest income, she qualifies for substantial tax credits if she purchases new health insurance through her state’s online exchange. Reporters found that, with the credits, she could obtain far better health insurance than she had before for $100-$150 per month out of pocket, with the credits paying for the rest. She was delighted and quickly became a nonperson to Fox News.

Don’t let the naysayers fool you. For most self-employed Realtors like Dianne Barrette, and other self-employed people, “Obamacare” is the best thing that’s happened in decades. Historically, obtaining affordable health insurance coverage has been one of the greatest challenges the self-employed face, especially those with pre-existing medical conditions

– See more at: http://www.inman.com/2013/11/11/tips-real-estate-agents-can-use-to-qualify-for-obamacare-credits/#sthash.mTTuxx8T.dpuf

Obama Scorecard: Despite improvements, housing remains fragile | Armonk NY Homes

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Despite strong improvements in home prices, purchases of new homes and sales of existing homes, officials caution that the overall recovery remains fragile, the Obama administration said in its latest October housing scorecard.

“As indicated in the October housing scorecard, the Administration continues to work to stabilize the housing market and help responsible homeowners get back on their feet,” said the Department of Housing Urban Development Deputy Assistant Secretary for Economic Affairs Kurt Usowski.

“With homeowners’ equity at its highest level since 2007 and home prices increasing steadily, it is clear that we are moving in the right direction. As our housing market regains stability, it seems the time is ripe for private capital to begin taking a larger role in the housing finance system,” Usowski added.

Home prices maintained their steady growth, with S&P Case-Shiller home price index rising to 164.5 in October from 162.4 last September. Year-over-year the index is up from 145.8 the same period a year ago.

Existing homes sales took a dive down, as sales dropped to 440,800 in October to from 449,200 in September, according to the latest data from the National Association of Realtors. However, this is significantly up from 398,300 in October 2012.

Homebuilders are heading into their peak season, with more than 75% of annual homebuilder returns historically generated in the November-to-January timeframe. Following past trends, new home sales rose to 35,100 in October, up from 32,500 in September and 31,200 October 2012, data from the U.S. Census Bureau and HUD reported.

The supply of existing-homes for sale remained fairly unchanged, as inventory inched up from a 4.9-month supply in September to a 5-month supply in October, NAR posted. Meanwhile, the supply of new homes for sale slightly dipped to a 5-month supply in October, compared to a 5.2-month supply in September, the Census Bureau and HUD said.

In addition, the industry took a slight step back in progress, with foreclosure starts increasing to 58,000 in October, from 55,800 last month, the most recent RealtyTrac found.

Furthermore, mortgage delinquency rates for prime borrowers remained frozen at 3.3% in October, according to Lender Processing Services.