Monthly Archives: February 2014

6 Simple Home Decor Rules to Follow | North Salem NY Real Estate

 

Domino magazine rounds up the tip six home decor rules to live by with furniture designer and decorator Laura Yaggy. Rich paint, antique prints and tabletop treasures give her rental apartment a storied feel. Best of all, she can take all of it with her.

 

1. Create History Through Paint

Because wallpaper would be a pain to remove, she created an alternative graphic wall treatment: a striking collection of silhouettes that advance the historical fantasy. To perk up the sedate tones, Yaggy incorporated pieces from her company Lorely in luxe skins (the end tables), unusual objets (the candlesticks) and other hits of red.

Create history through paintCreate history through paint

“You have to paint in a rental -it makes such a huge difference,” Yaggy says. Choosing an ethereal blue for the walls provides instant 18th-century atmosphere. Her sofa, chairs and coffee table are in shades of beige, white and brown-neutrals that could work in a future room that’s painted an entirely new color.

2. Entertain According to the Space

Entertain according to spaceEntertain according to spaceYaggy loves to have people over-for cocktails only-and since she doesn’t have a proper dining room, friends gather round the coffee table. She serves cocktails in cut-glass champagne coupes that were her grandmother’s, plus simple snacks that don’t keep the hostess in the kitchen. For intimate groups, she pulls over the armchairs by the windows (she bought them for their angular shape, had their mahogany frames glazed white, then replaced the ghastly yellow upholstery with an English print). If it’s a big party, the living-room furniture gets pushed to the wall.

 

 

 

 

3. Distract Flaws with Theatrical Color

Choose a theatrical colorChoose a theatrical color

Confederate Red walls draw the eye from the cheap laminate cabinets that came with Yaggy’s kitchen, while a Jonathan Adler shower curtain (as window shade!) and a Chinese carpet lend Far East flair. Visitors, she hopes, will focus on the white built-in shelf, stocked with liquor and vintage glasses.

 

 

http://shine.yahoo.com/at-home/6-simple-home-decor-rules-160800770.html

Top 5 trends from the 2014 Builders’ Show | Mt Kisco NY Homes

 

Some 75,000 builders, designers, remodelers, and more descended on Las Vegas last week for the 2014 International Builders’ Show. For the first time ever, the show shared the stage with the Kitchen and Bath Industry Show. Add in a steadily improving housing market, and there was plenty of pep on the floor of the convention center. There was also a lot of ground to cover, including 1,220 exhibitors spread across 650,000 square feet. Our editors and market analysts managed to identify the key themes and hottest products. If you’re considering a move, a remodel, or a brand new home, be sure to take note.

Speedy appliances. Pressed for time during meal prep? We saw a bevy of appliances that could short cut the process, including the pricey Viking Professional TurboChef Double Oven, which uses the same high-speed cooking technology used in places like Starbucks and Dunkin’ Donuts. Viking claims the commercial unit can cook food 15 times faster than conventional ovens. It should be out in late 2014 for over $10,000.

If that’s not in the budget, consider a new steam oven, which Bosch CEO Michael Traub called a “key ingredient of the changing American kitchen.” Besides faster cooking, the roughly $3,000 Bosch Benchmark Steam Convection is being promoted as a healthy compliment to your conventional oven, one that will preserve nutrients, flavors and colors in food and retains moisture. See how other new steam ovens did in Consumer Reports’ tests, as well as additional tips for creating a time-saving kitchen.

When it comes time for clean up, Electrolux has a new QuickWash dishwasher with a 30-minute quick cycle that claims to get dishes just as clean as a normal cycle. And for your laundry room, Electrolux also featured a matching washer and dryer that it says can clean two outfits in less than 30 minutes.

 

 

http://homes.yahoo.com/news/top-5-trends-2014-builders-show-193000338.html

Ask Stacy: What’s the Best Way to Pay Off My Mortgage Early? | Cross River NY Homes

 

This week I’m answering three questions with a common thread. They’re from readers interested in ditching their mortgage ASAP.

Question No. 1:

Could you go over some different ways to pay off your mortgage early? I am retired and have a fixed income, and would like to retire the debt on this house. I make an extra payment a year, and tried to do a 15-year fixed, but the costs to get the APR down to a reasonable rate drove the mortgage back up to my original loan amount. I felt that I was starting all over again. Thanks. — Richard

Question No. 2:

I have a mortgage loan at 2.75 percent with a variable interest rate (that adjusts) every year, with 11 years remaining. I am making an extra payment of $100 every month. Can you help me lower my interest or years left? Thanks. –Fernando

 

 

http://finance.yahoo.com/news/ask-stacy-best-way-pay-160035947.html

First Person: Why Generation X Needs to Be Mortgage Free | South Salem NY Homes

 

According to some headlines, Generation X has the most financial stress compared to any other generation. Many of us bought homes during the housing bubble. We are sending our children to college at a time when private college tuition costs as much as a house (not a house payment). In order to feel less stressed financially, I have made paying off my mortgage my No. 1 goal. So many experts scoff at the idea of putting extra money toward a mortgage when interest rates are so low. I have a mortgage rate of 2.75 percent. Because my interest rate is so low, I don’t usually have enough mortgage interest to make it worth my while to itemize my deductions. Therefore, I don’t deduct my mortgage interest. According to a recent article by The Street, people who are 35 to 44 have the most financial worries. A Pew study shows Generation X lost an average of $33,000 per person after the Great Recession. Although I’m dealing with stagnant wages, layoffs in my family and high college costs, I know owning my home outright will provide economic security for the rest of our lives.

Owning instead of renting

If I could come out ahead even though I bought a home during the top of the housing bubble, I am confident my Gen-X peers will come out ahead by buying a home at this time. Even though real estate prices are not at the bottom, it’s still more affordable to buy now than it was during the housing bubble. We pay just $900 a month to own our home, but renting a similar home would cost $1,300. When we retire, we will just have to pay property taxes as well as optional home owner’s insurance.

 

http://finance.yahoo.com/news/first-person-why-generation-x-needs-mortgage-free-184800194–finance.html

Yolanda Foster Selling “Dream Home” Due to Battle With Lyme Disease | Waccabuc NY Homes

 

Yolanda Foster explains to Us Weekly why she’s decided to sell her Malibu mansion. “This is our dream home, but due to my battle with Lyme disease for the past two years I just don’t have the strength to run this almost 5-acre property anymore and should really focus on my recovery with as little stress as possible,” she tells Us. “My daughter Gigi moved to New York last July and my Bella will move this July, so it will be just the two of us with my 14-year-old son, Anwar.”

ORIGINAL STORY:

Yolanda Foster is saying goodbye to her lemon trees. The Real Housewives of Beverly Hills star and her husband, Grammy-winning musician David Foster, have listed their Malibu, Calif. mansion for $27.5 million, real estate site Trulia reports.

On Bravo’s Real Housewives of Beverly Hills, Yolanda, 50, and David, 64, have frequently been filmed hosting extravagant dinner parties in their stunning 11,622 square feet custom-built home. The estate has a jaw-dropping ocean view and a gorgeous infinity pool.

 

The property also features orchards of citrus and avocado trees. On her reality show, Yolanda has been seen picking lemons from her trees for her Master Cleanse diet. The Dutch model also showed off her glass refrigerator in her gourmet kitchen.

 

http://celebrity.yahoo.com/news/yolanda-foster-husband-david-foster-list-malibu-mansion-005000267-us-weekly.html

Mortgage Rates Slide Again, Putting Pressure on Buyers | Katonah NY Homes

 

Mortgage rates are falling fast again, and would-be buyers have to start thinking: Can I afford to wait six months to buy a home with interest rates this low?

And low they are, as evidenced by a slew of mortgage rate data out early this week.

First up is the BankingMyWay Weekly Mortgage Rate tracker, which shows 30-year fixed mortgage rates sliding from 4.40% last week to 4.21% this week.

One-, three- and five-year adjustable-rate mortgages are also in full retreat this week, with the benchmark three-year ARM rate falling from 3.46% to 2.85%.

The BMW rate tracker also shows 15-year fixed-rate mortgages falling, from 3.58% to 3.43%.

Freddie Mac is out with new mortgage rates as well, and they pretty much mirror the BMW figures. Freddie Mac has current 30-year fixed mortgage rates at 4.23% and 15-year fixed loan rates at 3.33%.

While rates are well above where they were last year at this time (at 3.53% for the 30-year rate), mortgage interest costs have dropped significantly in recent weeks.

“Mortgage rates fell further this week following the release of weaker housing data,” says Frank Nothaft, vice president and chief economist, at Freddie Mac.

He notes the U.S. pending home sales index declined by 8.7% in December, to its lowest level since October 2011. “Fixed residential investment negatively contributed to GDP in the fourth quarter for the first time since the third quarter of 2010,” he says. “Also, the Institute for Supply Management reported a significant slowing in growth in the manufacturing industry in December than the market consensus forecast.”

 

http://www.thestreet.com/story/12326974/1/mortgage-rates-slide-again-putting-pressure-on-buyers.html?puc=yahoo&cm_ven=YAHOO

 

I Turned My Tiny, Dark, And Overpriced New York Apartment Into A ‘Smart Home’ For Just $300 | Cross River Homes

 

The SmartThings kit has all the basics you need to get started connecting your home.

My apartment gets almost no natural light.

That’s one of the problems with living in New York. I spend about a zillion dollars per month in rent, and still have a teeny tiny apartment that faces the back of a bunch of taller buildings that block the sun. My bedroom window faces some other guy’s bedroom window across a narrow, dark alley.

So no matter what time of day it is, I always have the lights on in my apartment.

For the last several weeks, my apartment has been programmed to light itself up. Whenever I enter my building, my apartment knows I’m home and switches on the lamp in my living room so I don’t have to fumble around in the dark. When I leave the room, the light shuts itself off.

That’s because I’ve been testing something called SmartThings. SmartThings isn’t just one gadget, but a Web-connected system of everyday objects that can control everything in your home from your lights to your coffee maker. I tested one of the SmartThings starter kits, which sell for $199 or $299.

How It Works

SmartThings starts with the hub, a small white plastic box that looks sort of like a WiFi router. The hub plugs into your router and talks to the rest of the connected objects in your home. Since the hub is connected to the Internet, you can control everything from a computer or the SmartThings app, even if you’re out of the house.

From there, you set up the objects you want connected. My starter kit came with two motion sensors, two multi sensors that can tell you when a door or window is open, two presence sensors that you clip to your keychain so the hub knows when you’re home (the app can also double as a presence sensor using your phone’s GPS), a smart outlet for controlling lamps or appliances, and a moisture sensor that goes under the sink to alert you in case of a leak.

 

 

http://finance.yahoo.com/news/turned-tiny-dark-overpriced-york-164004491.html

CoreLogic Projects January Prices up 10.2 Percent | Bedford NY Real Estate

Prices in the new year will pick up almost where last year left off, registering a 10.2 percent increase in January over a year ago according to CoreLogic.   However, the double digit increase is a slight decline from December’s 11 percent.  Is it a sign of softer prices to come?

Rising foreclosure and short sale prices helped December record the 22nd consecutive monthly year-over-year increase in home prices nationally, according to CoreLogic’s December CoreLogic Home Price Index (HPI®) report.

The CoreLogic Pending HPI indicates that January 2014 home prices, including distressed sales, are projected to increase 10.2 percent year over year from January 2013. On a month-over-month basis, home prices are expected to dip 0.8 percent from December 2013 to January 2014.  Excluding distressed sales, home prices increased 9.9 percent in December 2013 compared to December 2012 and 0.2 percent month over month compared to November 2013. Distressed sales include short sales and real estate owned (REO) transactions.

Excluding distressed sales, January 2014 home prices are poised to rise 9.7 percent year over year from January 2013 and 0.2 percent month over month from December 2013. The CoreLogic Pending HPI is a proprietary and exclusive metric that provides the most current indication of trends in home prices. It is based on Multiple Listing Service (MLS) data that measures price changes for the most recent month.

“Last year, home prices rose 11 percent, the highest rate of annual increase since 2005, and ten states and the District of Columbia reached new all-time price peaks,” said Dr. Mark Fleming, chief economist for CoreLogic. “We expect the rising prices to attract more sellers, unlocking this pent-up supply, which will have a moderating effect on prices in 2014.”

 

 

 

http://www.realestateeconomywatch.com/2014/02/corelogic-projects-january-prices-up-10-2-percent/

 

Mortgage Delinquencies Now 1.5 Times Pre-Crisis Levels | Bedford Corners NY Homes

 

Black Knight, formerly LPS Financial Services, reports that 2013 marked the fourth consecutive year of significant, sustained improvement in the nation’s inventory of delinquent mortgages, and the second consecutive year of significant improvement for those in foreclosure. Delinquencies were just 1.5 times their pre-crisis average, with foreclosures down to 4.6 times their pre-crisis levels (declining from more than eight times the historical norm).

“In many ways, 2013 marked an abatement to crisis conditions in the U.S. mortgage market,” said Herb Blecher, senior vice president of Black Knight Financial Services’ Data & Analytics division. “Delinquencies neared pre-crisis levels, foreclosure inventory declined 30 percent over the year, new problem loan rates improved in both judicial and non-judicial foreclosure states, and foreclosure starts ended the year at the lowest level since April 2007. Despite a recent drop off, 2013 was also the best year for property sales since 2007, with totals through November outnumbering the full year totals for each of the prior three years. In addition, as we’ve noted before, due to stricter underwriting, 2013 originations have proven to be the best-performing loans on record.

“However, at the same time, higher interest rates and seasonality pushed monthly originations to the lowest level since 2008, and the current interest rate environment seems to have also brought an end to the refinancing wave we’ve observed for the last several years. In fact, refinance activity has remained low despite year-end declines in interest rates. With continued tapering anticipated by the market, opportunities for new originations will likely come from looser underwriting and/or home equity lending (which has shown a sizable increase in volume since last year).

 

 

http://www.realestateeconomywatch.com/2014/02/mortgage-delinquencies-now-1-5-times-pre-crisis-levels/

How to sell a home, despite winter wonderland | Mt Kisco NY Real Estate

 

Inch upon inch of snow is piling up, and the desire to stay home curled up by the fire is becoming harder to turn away from: welcome to winter.

But despite continued snow flurries, home shopping is still growing.

According Zillow’s (Z) latest report, the online real estate marketplace reached a record number of unique users in January 2014, soaring to 70 million.

So how can real estate agents capitalize on this secret fountain of potential homeowners?

Zillow Real Estate Expert Brendon DeSimone outlined three tips for sellers and agents looking to sell a home during winter season.

One of the biggest points DeSimone emphasized was the need to have strong online photos of your house. Especially during the winter, buyers are shopping online all day.

“Nowadays, you only have one shot to make a good impression, which is your web appeal,” DeSimone explained.

Before, a seller would only have to worry about whether the house had good curb appeal.

“Now your first impression is on the web. Spend as much time and money for the photo shoot as you would for the first open house,” he said.

 

http://www.housingwire.com/blogs/1-rewired/post/28902-zillow-how-to-sell-a-home-despite-winter-wonderland