Monthly Archives: December 2013

Canadian home sales remain flat | North Salem NY Homes

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Canadian home sales remained mostly flat in November compared to October, but were up 5.9 percent from a year ago, The Canadian Real Estate Association (CREA) reported.

“National sales activity in November stood 3.4 percent below the peak reached in September, providing further evidence that activity in the later summer and early fall was likely boosted by homebuyers with preapproved mortgages at lower-than-current interest rates jumping into the market before their preapprovals expired,” the trade group said in a statement.

The number of newly listed homes also increased 1.8 percent month over month in November, representing a supply of homes that would take six months to sell, the same level as the previous month.

Meanwhile, the MLS Home Price Index (HPI) edged up 0.3 percent month over month in November, and was up 4.1 percent year over year.

Source: CREA

– See more at: http://www.inman.com/wire/canadian-home-sales-remain-flat/?utm_source=20131216&utm_medium=email&utm_campaign=dailyheadlinespm#sthash.tQ6rFuU7.dpuf

Bitcoin now accepted by RentHop | Mt Kisco NY Realtor

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Rental listing site RentHop thinks it can entice landlords and real estate brokers into using Bitcoin by slashing its listing advertisement fee if they pay with the digital currency.

Users must currently pay $2 to post listings on RentHop, which covers New York City, Boston and Chicago, and has plans to expand nationally.

But as of this week, if brokers and landlords use Bitcoin, they’ll have to pay only 0.833 milli-citcoin (1/1000th of a bitcoin), or $0.76 at today’s exchange rates. That represents a 60 percent discount off the rate that RentHop will continue to charge advertisers who pay in dollars. Find more details at https://de.thebitcoinscode.com/.

“RentHop has always catered to early adopters exploring innovations in real estate,” said RentHop CEO Lee Lin in a statement. “Over the years we’ve noticed the most successful landlords are the ones who proactively seek out and embrace new and disruptive platforms. Bitcoin users are exactly the type of participant we welcome to our marketplace.”

RentHop intends to reduce the exchange-rate volatility of owning Bitcoin for customers by maintaing the exact number in bitcoins that it charges unless Bitcoin’s dollar value changes by more than 30 percent.

Lawrence Zhou, co-founder of RentHop, breaks it down for us:

– See more at: http://www.inman.com/2013/12/16/bitcoin-now-accepted-by-renthop/?utm_source=20131216&utm_medium=email&utm_campaign=dailyheadlinespm#sthash.UtWNx7SJ.dpuf

Renovation Do No. 2: Revamp your bathroom | Bedford Corners NY Homes

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A toilet that looks old, cracked or dirty (or doesn’t flush properly) is a turn-off, and the same goes for a vanity, which should be eye-catching and practical. “Install a vanity that recesses into the wall, so it saves space,” advises Alen Moshkovich, a broker for Douglas Elliman in New York City.

Proper lighting can also be a great value booster, such as adding a window in the bathroom, so natural light can illuminate the space.

And homeowners tend to overlook one other simple fix: Reglazing a tub, rather than getting a new one, will save you money and upgrade the look of your bathroom.

http://money.msn.com/home-loans/good-and-bad-renovations-for-your-homes-value

 

Renovation Do No. 1: Upgrade your kitchen | Armonk Real Estate

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All of our experts agree that a kitchen renovation should be at the top of your list, since it’s the heart of a home and the room where families spend most of their time. But where to start? A couple of givens include upgrading to stainless steel appliances and installing countertops made from engineered stone or granite, because these fairly easy changes will improve the aesthetic appeal of the space. Details can also make a difference, like putting shiny knobs on cabinets and purchasing a sparkling new faucet for the sink.

Modern innovations and technology have been so good to everyday life. Having the ability to cook on an electric stove and use electricity for many other things in life is something that many people take for granted. However, when your electricity isn’t working right or you need electric oven repair, you might be a little more than overwhelmed with all of the things that you have to consider in order to make the most of your repair services. Take the time to Check This Out all of your options. If the winter was bitterly cold and the heat cost were unspeakably high, then you certainly need to think about insulation for your home. If it is formulated as simply as possible, then insulation serves ultimately to prevent or slow down heat exchange between two areas. Ideally, the heat stays in the house and the cold outside or vice versa for the summer months when you want to keep to cold air inside and heat outside. Many building materials can be a source of insulation, but only a few do this effectively. Even a simple stone wall holds heat to a certain extent in the walls. However, if considerable savings are to be made in terms of heating costs, there is no way around special insulation materials. But it does not always have to be “packed” within the whole house to save money. It is often enough to simply insulate the top floor, which will considerably reduce fuel consumption. Click here for more information https://www.insulation4us.com/blogs/what-insulation-should-i-use-when-insulating-my-home-in-brooklyn-ny/

Another wise kitchen upgrade? Knocking down a full or half wall, so you can connect the kitchen to the den or living room. “It makes the kitchen feel more spacious,” says Phyllis Rockower, the owner of the Real Estate Investors Club of Los Angeles. “If you’re cooking, you can still hear what people are saying during a party, or keep an eye on your kids while they’re playing.” http://money.msn.com/home-loans/good-and-bad-renovations-for-your-homes-value

More shakeups at StreetEasy as public face Sofia Song departs | North Salem NY Real Estate

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Major shifts continue at StreetEasy since the company was acquired by listings giant Zillow. On Friday, the company’s longtime head of research and communications, Sofia Song, left the firm.

She is the third high-level executive to be pushed aside or leave in the four months since Zillow paid $50 million for the city’s leading residential listings website.

Before Song, the real estate community was shocked when Michael Smith, company co-founder and CEO, was replaced in September with Susan Daimler, the general manager of Zillow New York, which includes StreetEasy; and around the same time Robin Allstadt, company chief operating officer, departed the firm. In addition, Zillow shuttered StreetEasy’s expansion websites in South Florida, Washington, D.C. and Philadelphia.

It was not clear where Song would end up. She did not respond to a request for comment. Two sources close to Song said she was not immediately joining another company.

Song was a popular voice for the firm, and for many in the public relations, journalism and real estate industries, she was the public face of the company. She joined StreetEasy in 2007.

“Sofia was on the front line of StreetEasy’s efforts to win over the [New York City] real estate market,” Jonathan Miller, CEO of appraisal and analysis firm Miller Samuel, said. “She was a data maven. I’ve long appreciated her efforts and her expertise will be missed, and she will be successful wherever she ends up.”

While Zillow has executed successful acquisitions in the past, the changeover period is often rocky, as with any merger, Miller said.

“When a big firm — Zillow — takes over a little firm — StreetEasy — the highest brand risk is the transition period they are going through right now,” he said.

Last week, Song notified reporters through emails and conversations at the firm’s holiday party Dec. 11 at Umami Burger in the West Village that Lauren Riefflin would replace her in public relations matters, but did not divulge that she intended to leave the company.

A spokesperson for Zillow said the firm does not comment on employee matters, but added, “Sofia’s contributions to StreetEasy over the past six years have been instrumental in building the company into the real estate powerhouse that it is today. We wish her all the best.”

All eyes are now on the developers behind StreetEasy, insiders said, as programmers are in high demand in New York City.

 

http://therealdeal.com/blog/2013/12/16/more-shakeups-at-streeteasy-as-public-face-sofia-song-departs/

 

Armonk, Bedford Corners Lead in Highest Average Size | #RobReportBlog

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Armonk,   Bedford Corners Lead in Highest Average Size | #RobReportBlogSquare Feet
Katonah3,876
Pound   Ridge3,854
South   Salem3,029
Mt Kisco2,788
Chappaqua4,101
North   Salem3,288
Armonk5,800
Bedford4,701
Bedford   Hills4,021
Bedford   Corners5,059

5 predictions for housing in 2014 | Bedford Corners NY Homes

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The housing market may quite return to normal next year, but it’s getting there.

Dusting off their crystal balls, real estate experts can at least spy the path toward for the sector in 2014. According to real estate listing and research site Trulia, sales and prices of of non-distressed homes are almost back to normal, while foreclosures are ebbing and fewer homeowners are behind on their mortgage payments.

Yet while this march toward a more stable housing market is a welcome one, it’s creating new problems along the way. Expect less highs and lows next year, but not smooth sailing. Here are five trends to look for in the new year:

Mortgage rates will top 5 percent. This is a matter of when, not if, as well as how high interest rates on mortgage loans. As 2013 draws to a close, mortgage rates have increased 1 percent over last year, rising on the back of a strengthening economy. Stronger economic growth will eventually lift the Federal Reserve’s hand out of the mortgage market in 2014, causing it to taper its bond-buying stimulus program. When the Fed merely mentioned tapering the program last June, rates jumped nearly half a percentage point overnight.

Housing market research firm Zillow predicts that interest rates for a 30-year fixed-rate mortgage will surpass 5 percent for the first time since early 2010.

“While this will make homes more expensive to finance – the monthly payment on a $200,000 loan will rise by roughly $160 – it’s important to remember that mortgage rates in the 5 percent range are still very low,” said Erin Lantz, Zillow director of mortgages, in an e-mail.

Mortgages will be easier to secure. Although loan rates are likely to rise, getting a mortgage should be easier next year.

“Rising rates means lenders’ refinance business will dwindle, forcing them to compete for buyers by potentially loosening their lending standards,” Lantz said.

One wild card is a new federal rule kicking in on Jan. 10 that sets mortgage standards. Lenders that don’t follow the rules will face greater legal liability and potential penalties if that loan defaults. It remains to be seen whether that could constrain lending.

Inventory will stabilize. The National Association of Realtors, a Washington trade group, characterized 2013 as the “year of low inventory.” That wasn’t all bad, with low inventory driving most of the explosive price gains in the spring and summer. But the shortage was short-lived, as inventory has since returned to 2012 levels. Cash-carrying investors are also exiting the market.

Trulia chief economist Jed Kolko said that means home buying will look far less frenzied than it was this year.

 

 

 

http://www.cbsnews.com/news/5-predictions-for-housing-in-2014/

Fed taper remains guessing game | Mt Kisco Real Estate

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Monday Morning Cup of Coffee takes a look at news coming across HousingWire’s weekend desk, with more coverage to come on bigger issues.

Looking forward to the week ahead, one of the most anticipated events will be the meeting of the Federal Open Market Committee on Wednesday, where Ben Bernanke will give his last press conference as chairman of the Federal Reserve.

Most observers expect no major change in interest rates. There is, however, speculation about the Fed’s Treasury and bond-purchase policy. Decisions on whether or not to continue at the same pace is decided in FOMC meetings. While many economists expect the Fed’s bond-buying program to remain unchanged until January or even March, there is growing sentiment that Wednesday might see some announcement.

It is important to note, that for every report showing a sentiment to taper this year, there is another suggesting otherwise.

“Fed officials face a more difficult decision at their meeting next week, as the employment and growth data have picked up since the October meeting” said analysts at Goldman Sachs in a weekend note to clients. “But our central forecast for the first tapering move remains March, with January possible as well.”

In a Reuters poll last week of 60 economists, about half expected the Federal Reserve to wait until March to start the tapering program, but 12 economists — almost one fourth — now see this week as more likely. That’s a steep increase from the three who predicted that in a poll a month ago.

The November drop in unemployment to 7% is certainly a factor in considering tapering, but there are still plenty of signs that the U.S. economy is not strong enough for a cutback in the stimulus.The positive affect on the housing market of that lower unemployment number may be offset by the expanded unemployment benefit that expires at the end of this month.

In the two-year budget deal that the House of Representatives reached this week, that benefit — which has been providing the unemployed with an extra 14 weeks of help — was not renewed. That will immediately affect 1.3 million Americans who are receiving that help now, along with another 3.6 million who would have qualified in 2014.

And although the unemployment rate declined for young workers — 16 to 24 year olds — from 15.1% in October to 14.1% in November, that number is still double the national average. As HousingWire reported last month, the decline in the overall homeownership rate to 63.9% this year shows that there are still significant barriers to first-time buyers — including that Millennial market that will be key for the future of housing.

 

http://www.housingwire.com/blogs/1-rewired/post/28305-monday-morning-cup-of-coffee-fed-taper-remains-guessing-game

 

Snow Is Back In The Forecast For Tuesday In Armonk | Armonk NY Homes

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Westchester County is likely to see its second accumulating snow fall in the span of four days on Tuesday.

After a mostly sunny day Monday with highs near 30, there is an 80 percent chance of snow on Tuesday, mainly before 4 p.m., with 2 to 4 inches accumulation possible, according to the latest forecast from the National Weather Service. The snow is expected to start prior to dawn on Tuesday, which could make driving conditions during the morning commute treacherous.

It will clear out on Wednesday, with sunny skies and a high around 35.

Thursday should be mostly sunny with a high around 34.

Temperatures will then warm up for the weekend.

There is a chance of rain Friday with a high of around 48. There’s a chance of rain on Saturday with a high around 43.

 

 

http://armonk.dailyvoice.com/news/snow-back-forecast-tuesday-westchester

Branstad, MidAmerican officials plan major wind energy announcement | Waccabuc Real Estate

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Officials at MidAmerican Energy Co. and the state of Iowa are set to make a major announcement regarding a new wind energy development.

Gov. Terry Branstad is expected to discuss the project at his morning news conference Monday and release further details with company officials at a 1 p.m. news conference to be held at the Siemens Energy wind blade factory near Fort Madison.

In August MidAmerican Energy received approval from the Iowa Utilities Board for a $1.9 billion project to install hundreds of wind turbines by the end of 2015.

More than 448 turbines are to be installed in Grundy, Madison, Marshall, O’Brien, and Webster counties.

MidAmerican, Iowa’s largest energy company began building wind turbines in 2004, and it currently has more than 1,200 wind turbines in Iowa.

 

 

http://www.desmoinesregister.com/viewart/20131216/BUSINESS/312160051/Branstad-MidAmerican-officials-plan-major-wind-energy-announcement