| Armonk, Chappaqua Lead in Highest Ask Price | #RobReportBlog | ||
| Katonah | $18,995,000.00 | |
| Pound Ridge | $5,700,000.00 | |
| South Salem | $12,200,000.00 | |
| Mt Kisco | $3,950,000.00 | |
| Chappaqua | $24,750,000.00 | |
| North Salem | $18,500,000.00 | |
| Armonk | $24,900,000.00 | |
| Bedford | $14,500,000.00 | |
| Bedford Hills | $10,995,000.00 | |
| Bedford Corners | $12,000,000.00 |
Home prices in the Baltimore metro region continued a slow and steady climb in November, while sales grew sluggish, a seasonal trend exacerbated by economic uncertainty.
Home prices rose just over 4 percent in November compared with the same time last year, according to a Tuesday report by RealEstate Business Intelligence, a subsidiary of MRIS. Prices have been rising at about that rate
for almost two years, although the numbers still fall short of the pre-recession peaks.
The median sales price in the Baltimore metro area was $239,450 in November, up from $230,000 in November 2012, but below November 2006’s $270,000, according to the RBI data, which are based on listing service information. In Anne Arundel and Carroll counties, the percentage increase rose in the double digits.
“It’s been a reasonable-sized change, but not too huge,” said Andres Carbacho-Burgos, a housing economist for Moody’s Analytics. “It shows that house prices are starting to recover.”
R. Andrew Bauer, a Baltimore-based senior regional economist for the Federal Reserve Bank of Richmond, agreed, adding, “The fundamentals are in place for the housing market to continue to move forward solidly. The question is the pace.”
RBI data showed buyer activity slowing during the month, with about 2,000 units sold, down 10 percent from October and flat compared to last year, a seasonal trend that RBI’s analysis said was “intensified” by the shutdown of the federal government. The market update, which is compiled with George Mason University’s Center for Regional Analysis, predicted a continuation of this trend in the coming months.
Maryland’s housing market is particularly vulnerable to uncertainty about government funding, with positions in the public sector or funded through federal contracts accounting for more than 27 percent of the state’s total jobs, according to a November study by the Mercatus Institute.
“It’s a little bit weird out there,” said Dominic Cantalupo of Champion Realty Inc. in Pasadena. “I just think people are still a little squeamish about diving in with both feet.”
Uncertainty in the economy makes people concerned about home values and hesitant to buy, particularly when confronted with a small number of desirable properties, said Stephanie Yungmann, an agent with Keller Williams Realty in Baltimore. Inventory remains about 43 percent lower than the July 2008 peak, according to RBI data.
“Anytime there’s any sort of a little hiccup in the market, buyers immediately start talking again … about not wanting to make a decision,” she said.
I never imagined that writing about my personal life would catch the attention of a global health-care foundation and turn me into a globe-trotting, public speaker at an international medical conference in the Middle East. But in this social media age, getting thrust onto the international business stage is possible—even when you least expect it.
I was born with thalassemia, one of the most common genetic blood disorders in the world. There are three versions of the disease: minor, intermediate and major. Those living with thalassemia minor are typically unaware that they have the illness. While those who have the major form, like me, live with a dysfunctional bone marrow that produces misshapen red blood cells that cannot transport oxygen to cells, thus requiring triweekly transfusions for survival.
Estimates indicate that at least 12 children suffering from thalassemia are born every hour around the world and almost 490 million are carriers of genetic hemoglobin disorders globally. While bone-marrow transplants and new gene therapies have led to the potential cure for some patients, most who inherit the disease will die from complications.
I started blogging and sharing my experience on Facebook and Twitter. In April 2013, one of my Facebook posts inspired a message from Riyad Elbard, president of the Thalassemia Foundation of Canada, asking me to share lessons on emotional wellness, a topic that I write about, at the Thalassemia International Federation World Congress, which took place in Abu Dhabi, United Arab Emirates, in October.
Elbard mentioned that he enjoyed reading my blog posts on Facebook and thought I could offer a much-needed message about how to thrive with medical challenges. Simply put, emotional wellness means embracing, rather than denying emotions, so we learn to cope with stress and anxiety in a way that results in a positive approach to life. Freedom from negative thoughts and behavior patterns leads to emotional wellness.
Brokerages affiliated with franchisors Prudential Real Estate, Re/Max and Century 21 scored higher than average in overall customer satisfaction among first-time buyers in a J.D. Power study measuring customer satisfaction among first-time and repeat homebuyers and sellers among the nation’s largest real estate companies.
In general, overall satisfaction with real estate companies was higher among consumers who had bought or sold a home before, compared to first-time buyers and sellers. On a 1,000-point scale, the average score among repeat homebuyers was 817, and 803 among repeat home sellers, compared with the industry average of 797.
Companies affiliated with Prudential Real Estate ranked highest with first-time homebuyers in overall customer satisfaction (811), followed by Re/Max (798) and Century 21 (797). Companies affiliated with Coldwell Banker (792) and Keller Williams (787) scored below average. Among first-time sellers, Prudential Real Estate (809), Keller Williams (802), Re/Max (800) and Century 21 (799) were tops, with Coldwell Banker (780) scoring below average.
“Real estate companies remain challenged in adapting their customer service approach to best meet the needs of first-time homebuyers and sellers,” said Christina Cooley, director in the diversified services industries practice at J.D. Power, in a statement.
“They need to educate these customers by explaining the current state of the market, discuss foreclosure and short-sale transactions, and walk them through every step of the closing process.”
– See more at: http://www.inman.com/2013/12/10/jd-power-survey-highlights-challenges-of-serving-first-time-buyers-and-sellers/?utm_source=20131211&utm_medium=email&utm_campaign=dailyheadlinesam#sthash.at475iP0.dpuf
The snowstorm that dropped 2-4 inches of snow throughout Westchester County has passed, but the National Weather Service has just issued a Special Weather Statement warning of black ice and slick conditions Tuesday night and into Wednesday.
Those conditions are especially likely on walkways and untreated roads, where many are either wet or covered with snow and ice.
Temperatures are expected to fall into the 20s Tuesday night with any slush or standing water refreezing.
Icy conditions could continue Wednesday, which will be mostly sunny but with a high of only around 30 degrees.
Thursday and Friday should also be dry, but temperatures are not expected to climb past the freezing mark.
The next chance of snow is Saturday, with a 70 percent chance and a high temperature of 35.
http://chappaqua.dailyvoice.com/news/black-ice-slick-conditions-likely-westchester
Immigration reform in America would broaden and accelerate the current housing recovery, in addition to feeding the growth of the economy by adding new, younger workers into the labor force, a report from the Bipartisan Policy Center said.
In a report titled “Immigration Reform: Implications for Growth, Budgets, and Housing,” the policy center argues that immigration reform can produce powerful economic benefits, and for people trying to protect their immigration status in the USA, the use of a lawyer from the Sam Shihab & Associates, LLC is one of the best options for this.
Immigration reform would jump-start the housing recovery by dramatically increasing demand for housing units, growing residential construction spending by an average of $68 billion per year from fiscal year 2014 to 2023, the report said.
The 20-year period includes a peak of more than $110 billion per year in fiscal year 2022 through 2025, with the first decade’s annual average about $56 billion per year higher, and the second decade’s about $81 per year billion higher.
However, if all unauthorized workers were removed, spending would decline by more than $100 billion per year compared with the baseline, or the current projections if no change was made, and more than $175 billion per year compared to the reference case.
http://www.housingwire.com/articles/28250-immigration-reform-could-spur-housing-recovery
Toll Brothers (TOL), the nation’s largest luxury homebuilder, reported a 65% drop in its net income for fiscal year 2013 versus fiscal year 2012, following a fourth quarter that beat estimates, but was still down from last year.
The firm’s fiscal-year 2013 earnings declined to $170.6 million, or $0.97 per share diluted, compared to earnings of $487.1 million, or $2.86 per share diluted, for fiscal year 2012.
Fourth-quarter earnings for 2013 were $94.9 million, or $0.54 per share diluted, compared to $411.4 million, or $2.35 per share, in fiscal year 2012.
A tax benefit in the fourth quarter of last year could account for some of the disparity.
Toll Brothers’ deferred-tax asset valuation allowance reversal was $394.7 million for the fourth quarter of 2012, versus $4.6 million for their fourth quarter in 2013.
Douglas Yearley, chief executive officer for Toll Brothers, focused on the positive growth the company saw in 2013.
“With revenues and contracts up over 40%, backlog up over 50% and operating income up over 200%, fiscal year 2013 was an excellent year for Toll Brothers,” Yearling said.
Fourth quarter 2013 revenues rose 65% to $1.04 billion compared to the fourth quarter of 2012, with a 36% increase in units to 1,485 deliveries.
The average price of homes delivered rose to $703,000 in the fourth quarter, topping $651,000 in the third quarter of 2013 and $582,000 in the fourth quarter last year.
It’s official: Congressman Mel Watt, D-N.C., will lead the Federal Housing Finance Agency after the U.S. Senate confirmed his nomination Tuesday afternoon.
Senators confirmed Watt as Ed DeMarco’s replacement, with a majority of the chamber’s legislators voting in Watt’s favor. The congressman easily obtained 57 votes, with 41 Senators voting against the appointment.
Ed DeMarco, who has served as acting director of the FHFA ever since the GSEs entered conservatorship, has long staved off attempts to use the agency as an instrument for enacting principal write-downs to help underwater borrowers.
The market has had plenty of time to get used to a Watt appointment, but he’s still viewed as a major sea change for the conservator of Fannie Mae and Freddie Mac.
Housing advocates praised the move on the grounds that Watt is more likely to grant some form of additional housing aid, either through an expanded Home Affordable Refinance Program or principal write-downs. But the mortgage industry — especially investors in residential mortgage-backed securities — remain guarded about the prospect of Watt at the helm.
“The FHFA director has the power to help rebuild local economies and communities through direct action and administrative reforms, and we’re confident Mel Watt will do just that,” said Alan Jenkins, executive director of The Opportunity Agenda, a group that advocates for expanding homeownership.
Elyse Cherry, CEO of Boston Community Capital, a firm that successfully enacted a principal reduction-shared appreciation program to help underwater borrowers, is a strong supporter of Watt’s.
“I am glad the Senate is moving forward with Mr. Watt’s confirmation to the FHFA,” Cherry said. “For too long, our policy at this agency has been headed in the wrong direction for the wrong reasons, and Mr. Watt’s nomination is a chance to turn things around.”
But the Watt nomination certainly drew its fair share of skeptics from day one. With Mel Watt often viewed as more of a political figurehead, the mortgage industry was less receptive to the president’s pick at first.
Several months ago, when Watt was first in consideration, Edward Mills, a senior vice president at FBR Capital Markets, said the president’s DeMarco replacement pick would raise eyebrows on Wall Street.
“One of the hallmarks of the DeMarco tenure is that he was a nonpolitical figure before accepting this job,” said Mills. “Since then, he has taken his stand as conservator very seriously and has been resistant to pressure from the Hill,” he added.
The Miami Marine Stadium, designed by Hilario Candela, stands as one of Miami’s most crowning architectural achievements. The stadium undeniably captures the essence of the Miami Modern, or MiMo, architectural style—a term coined by Randall Robinson and Teri D’Amico that describes the adaptation of the International Style of modernism to South Florida’s environment and culture from the end of WWII until the late 1960s. Recently an effort to save the stadium from demolition and restore it has received much attention and support, all in the interest of the enormous architectural and social impact the stadium has had on Miami through its history.
Pancoast, Ferendino, Skeels, and Burnham’s as built plans of Miami Marine Stadium. 1963. [Courtesy of Hilario Candela]
In 1962 the City of Miami hired the Chicago firm of Ralph H. Burke to master plan a new park on Virginia Key, along the Rickenbacker Causeway. The proposal called for a monumental racecourse for speedboats, similar to Rome’s Circus Maximus but with water. It would include a grandstand on the south side and be open to Biscayne Bay on the northwest end. The project’s total estimated cost: $10 million.
The inclusion of a grandstand and other amenities for a large audience came at a time when boat racing and water skiing were exploding in popularity throughout the country. Amateurs and professionals alike embraced a sport that had once only been accessible to the wealthy who owned yachts or belonged to private clubs. Yet no city in America had an adequate boat racing course. In Miami, the annual Orange Bowl Regatta in December attracted hundreds of spectators and boat entries to the event. However, due to the lack of unprotected and limited space the event also gained public criticism.
The new stadium was to be the world’s first specifically designed for powerboat racing. Though other marine stadiums existed, such as the Long Beach Marine Stadium in California or the Jones Beach Marine Theatre in New York, each was built for either rowing/boat races or musical concerts, respectively. Miami’s new stadium would capitalize on tourism and local revenue with a diverse list of events to be hosted on site including major regattas, shows, and concerts.
To carry out the project the City of Miami hired the Miami-based architectural firm of Pancoast, Feredino, Skeels and Burnham, as well as Dignum Engineers. Dignum’s lead engineer Jack Meyer and Hilario Candela, a young Cuban-born architect from Pancoast, Feredino set out to construct an ambitious concrete wonder.
Construction photos of Miami Marine Stadium. 1963. Photo by Pancoast, Ferendino, Skeels, and Burnham. [Courtesy of Hilario Candela]
The then 27-year old Hilario Candela had a resume of experiences prior to this project that he usefully drew on for the stadium. Candela trained at the Georgia Institute of Technology and his mentors, a group of men that were leading the pathway with concrete structure experimentation, included Italian architect Pier Luigi Nervi, Spanish structural engineer Eduardo Torroja, and Spanish-Mexican architect Félix Candela. After graduation Candela returned to Havana, Cuba where he interned under Max Borges, Jr., designer of the famed Arcos de Cristal at the Tropicana Night Club, and Sáenz, Cancio, Martín, Álvarez and Gutiérrez-the largest firm in Havana at the time. It was here that Candela was introduced to thin-shell concrete construction and expressive rooflines. Coming to Miami to join Pancoast, Feredino, Skeels and Burnham, Candela’s first project was to construct a series of buildings for the first campus of Miami Dade College—something he continued for 30 years.
http://miami.curbed.com/archives/2013/12/09/marine-stadium-marvin-aguilar.php
The folks at exMiami have procured more renderings of the Related Group’s Hyde Midtown condo tower project, which they say show the “Arquitectonica touch” (more renderings at exMiami, this way). A sales center is currently under construction at the 3 Midtown site.
The more detailed renderings show that the ground floor, if not exactly a head-turner, is at least well-designed. · New Hyde Midtown Renderings Show Arquitectonica Touch [exMiami] · Previous Hyde Midtown coverage [Curbed Miami]