Monthly Archives: August 2014

Weak Home Sales, Falling House Prices | Katonah Real Estate

Followers of the housing market got spooked a couple weeks ago by some data suggesting the market was in trouble. First, the recent pending home sales data from the National Association of Realtors showed a 1.1% decline, when economists had forecast a 0.5% increase. Second, the S&P Case-Shiller 20-city house price index declined 0.3% on a monthly basis, when economists had predicted a 0.4% increase. Is it game over for the U.S. housing market?

U.S. housing affordability and homeowner vacancy rates
There’s no doubt that the housing market has slowed from the strong growth it saw in 2013, but that doesn’t mean it’s about to crash. On the contrary, there are four key reasons the market is likely to improve.

First, despite the talk that rising mortgage rates will choke off demand, housing still remains relatively affordable. Take a look at the National Association of Home Builders/Wells Fargo housing opportunity index — the higher the number, the more affordable housing is.

Source: NAHB/Wells Fargo.

Affordability fell in the second half of 2013, but on a historical basis, it’s still supportive of good growth in the housing market. Readers can see that, according to the index, housing is more affordable than it was for most of the 1992-2009 period.

Second, homeowner and rental vacancy rates suggest that the number of houses and rentals available is shrinking. Vacancy rates simply refer to the percentage of properties which are unoccupied. A look at the data from the U.S. Census Bureau demonstrates that rental vacancy rates are falling sharply, while homeowner vacancy rates remain low. The lower the number, the fewer properties there are available to rent or buy

5 signs you’re ready to get a mortgage | Bedford Hills Real Estate

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Interest rates remain at historic lows and the housing market continues to steadily recover, creating a strong environment for buying a home.

This doesn’t mean the timing is right for everyone, but you may already be doing these five things that show you could be ready to move toward homeownership. And, unless you have significant amounts of cash on hand, that means you’ll need to get a mortgage.

And so, this article in The Globe and Mail outlines the five signs you are ready for a mortgage.

1. You are making the right financial strides

“If they have already started saving toward a down payment, that is a great sign,” said Jeffrey Baker, a real estate agent with Sutton Group in Montreal. “They have either been saving aggressively over a certain length of time and given themselves a target for the amount that will be their down payment. Or they will have had a meeting with a financial adviser or bank, who has shown them the amount they can realistically spend.”

2. You are creating a firm budget

“A well-educated first-time buyer needs to know their budgets to know where they stand,” said Russell Westcott, vice-president of Vancouver-based Real Estate Investment Network.

read more…

5 signs you’re ready to get a mortgage

Where is real estate booming across America? | Bedford NY Real Estate

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While home prices continue to moderate in many metropolitan areas in the second quarter, there is still a divide regionally, according to the National Association of Realtors.

Overall, fewer markers witnessed price increases in the second quarter compared to the first when price increases were recorded in 74% of metro areas. And, it’s in the Midwest region of the United States where home sales are really beginning to pick up again.

Nationally, only 19 metropolitan statistical areas in the second quarter (11%) had double-digit increases, drastically falling from the 37 areas last quarter and the overall average of 43 areas since the second quarter of 2013.

Lawrence Yun, NAR chief economist, explained that price increases are balancing out to the benefit for both buyers and sellers.

“National median home prices began their most recent rise during the first quarter of 2012 but had climbed to unsustainable levels given the current pace of inflation and wage growth,” he said. “At this slower but healthier rate, homeowners can continue steadily building equity. Meanwhile, for buyers, increased supply with moderate price gains is giving them better opportunities to choose.”

Here are how the four regions are squaring up in the second quarter…

15 states aggressively going after stop-foreclosure scams | Pound Ridge Realtor

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Last month, it was announced that the Consumer Financial Protection Bureau and the Federal Trade Commission were filing nine lawsuits against companies and individuals that collected more than $25 million in illegal advance fees with false promises to prevent foreclosures.

That was on a national level.

At the same time, 15 state Attorney General offices announced an additional 32 actions against foreclosure prevention scammers.

Often in these scams, the scammers offer delinquent homeowners security from mortgage servicers who are seeking to foreclose.

They promise the homeowners home retention, often take fees upfront and do little in return.

The homeowners often still face foreclosure, and receive none of the promised compensation.

Well, as HousingWire can now exclusively reveal, here are those 15 states that are aggressively going after these scammers.

The list was provided by the CFPB, and for the purpose of the list, we gathered some additional information.

15 states aggressively going after stop-foreclosure scams

Fannie Mae: Americans increasingly skeptical on housing | Bedford Corners Real Estate

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Consumer attitudes about the direction of the economy overall have grown more negative and Americans’ attitudes toward the housing market remain mixed, according to results from the Fannie Mae July 2014 National Housing Survey.

The share of respondents who believe the economy is on the wrong track increased by 5 percentage points from last month to 59%.

The 12-month home price change that consumers expect declined again in July, falling to 2.3%, and the share of respondents who expect home prices to climb in the next year also continued on a downward trend, falling to 42%.

“The continued cautious sentiment expressed across the range of consumer indicators this month gives weight to our view that the first phase of the housing recovery is decelerating, and 2014 will be a year of mixed housing outcomes with home prices rising more slowly and home sales falling slightly,” said Doug Duncan, senior vice president and chief economist at Fannie Mae.

“We have always believed that for the housing recovery to be considered robust, we will need strong and sustained full-time job and income growth. Recent data indicating the creation of more than 200,000 jobs over each of the last six months, combined with this month’s improvement in the share of consumers reporting significantly higher household income than a year ago, does provide some reason for optimism. If these trends continue, they could lead to some upside in housing in 2015,” he said.

http://www.housingwire.com/articles/30959-americans-increasingly-skeptical-on-housing-economic-recovery

Local Farmers Markets | Armonk NY Homes

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JAN2014-DTE-E-Mail-Masthead_(722x226pxl)FRESH-2-(1

Fresh Fish & Bread Return Full-time at Tarrytown Farmers Market;
Recycle Sack Program Begins in Ossining;
Chef Maria Reina Hosts Cooking Demo in Croton-on-Hudson + MORE
August 7-13th, 2014
DowntoEarthMarkets.com

What’s New, In Season, and On Sale This Week

$1 OFF Round Soaps
Regularly $4 each; now $3!
Sisters Wicked Good Soap

$2 OFF purchase of 5 products Select from chuneys & frozen
kofta, saag, samosa, & rajama
Bombay Emerald Chutney Co.

Arugula
Taliaferro Farm

Blueberry Honey
Honeybrook Farms

Cantaloupe
Gajeski Produce
Mead Orchards

Croissants
Almond, Chocolate, & Traditional
Wave Hill Breads

Eggs
Fishkill Farm

Eggplant
Taliaferro Farm

Flowers
Fishkill Farm

Gooseberries
Fishkill Farm

Honey in the Rough
Honeybrook Farms

Just Crust Chips and
Rustic Croutons
Garlic, Naked & With a Kick
$0.50 OFF/bag this weekend!
Wave Hill Breads

Kabuchi Squash
Gajeski Produce

Monkey Bread
Wave Hill Breads

Peaches
Alex’s Tomato Farm
Mead Orchards
Migliorelli Farm

Pears
Mead Orchards

Peppers
Taliaferro Farm

Tomatoes
Fishkill Farm
John D. Madura Farm
Migliorelli Farm
Rexcroft Farm
Wright Family Farm

Shawungunk Honey
Honeybrook Farms

Spring Meadow Honey
Honeybrook Farms

Summer Squash Ravioli
Made w green & yellow squash, roasted red peppers, tomatoes, &
onions – all from Newgate Farm
Trotta Pasta

String Beans
Gajeski Produce

Watermelon
Alex’s Tomato Farm

Click on a Market to see all vendor and event details…

Westchester County		Rockland County
Ossining Saturdays 8:30 am-1:00 pm	Larchmont Saturdays 8:30 am-1:00 pm	Piermont Sundays 9:30 am-3:00 pm
Croton-on-Hudson Sundays 9:00 am-2:00 pm	Rye Sundays 8:30 am-2:00 pm	Spring Valley Wednesdays 8:30 am-3:00 pm
Tarrytown/Sleepy Hollow Saturdays 8:30 am-1:00 pm	New Rochelle Fridays 8:30 am-2:30 pm	*Headed to the city soon?* Visit a Down to Earth Farmers Market in NYC!

Announcements

New Rochelle – Friday, August 8th

Only TWO chances left to meet a Rockstar (under age 9, that is…)! The Beth El Day Camp Rockstars, girls ages 7 and 8, will serve as Food Ambassadors to New Rochelle’s Down to Earth Farmers Market tomorrow and Friday, August 15th. Between the hours of 11 am and 1 pm, you can find the girls with their latest recipe made from fresh market ingredients. Tomorrow they’ll feature FRUIT KABOBS. They make the recipe and offer free samples – and free recipe cards – for everyone to recreate it at home. See you there!

Ossining – Saturday, August 9th

Recycle Sack: With the goal to eliminate plastic bags from the farmers market, this Saturday, the market manager in Ossining will begin accepting donations of clean, reusable shopping bags that people would like to drop-off. The donated bags will be offered to customers as an alternative to plastic bags for their market purchases. For each bag donated, customers can enter to win a $25 gift certificate for the market, and a winner will be drawn every 2 weeks!

Croton-on-Hudson: Sunday, August 10th

Chef Maria Reina of Bella Cucina Maria will host a free cooking demo from 11:30 am-1:30 pm. She creates healthy, seasonal dishes with fresh ingredients from the market. She has a wonderful recipe for this week that features pasture-raised eggs and peppers, but that’s the only hint we’ll give for now. Stop by to sample her dish and gain new ideas for cooking from the market!

For additional events, visit our Down to Earth Markets Event Calendar.

Stay tuned to all market happenings via our Down to Earth Markets Facebook page
and follow us on Instagram and on Twitter @DowntoEarthMkts.

Feed Your River: How Riverkeeper and Down to Earth Markets Are Teaming Up
to Support Local Food and Clean Water
by Jeremy Cherson of Riverkeeper

Hudson River sunset as seen by the
Ossining waterfront

Riverkeeper, New York’s clean water advocate, and Down to Earth Markets are teaming up this summer and fall to present the Feed Your River Series, a partnership between neighbors to promote local food and the importance of clean water. The first event takes place this Saturday, August 9th, when Riverkeeper will appear at the Ossining Farmers Market to discuss our latest initiatives with market customers.

Did you know that over 100,000 New Yorkers get their drinking water directly from the Hudson River? Another 8 million New Yorkers depend on the good health of the Catskills for their drinking water supply.

Come visit Riverkeeper at these Down to Earth Farmers Markets:

8/9: Ossining Farmers Market
8/16: Tarrytown Farmers Market
8/31: Piermont Farmers Market
9/7: McGolrick Park Farmers Market (Brooklyn)
9/7: Park Slope Farmers Market (Brooklyn)
10/11: Morningside Park Farmers Market (Manhattan)

The connection between clean water and healthful food is readily apparent for our friends at Down to Earth Markets. Their farmers markets bring the finest produce of the Hudson Valley and surrounding area to the people of the metro region.

Farmers in the Catskills and Hudson Valley rely on clean, plentiful water to provide us with nutritious food. Supporting farmers at a Down to Earth Market helps farms within the NYC watershed stay in business and thrive. Ultimately, stewardship of farmland is an important component of maintaining water quality on the Hudson and its tributaries.

Riverkeeper will be featured at select Down to Earth Markets throughout the estuary to engage communities about the importance of protecting the Hudson River and our drinking supply. Stop by the learn about our ongoing campaigns to stop dangerous oil shipments down the Hudson, prevent the raid of clean water funds to finance the Tappan Zee Bridge, and keep fracking waste off New York roads. Everyone can make an impact. Find out how by visiting Riverkeeper at your favorite Down to Earth Farmers Market.

Riverkeeper relies on extraordinary heroes like you to raise the red flag and educate the public on threats to our river. We need you to join our volunteer team to help the Feed Your River Series thrive and grow. Click here to join our outreach and education volunteer team. See you at the markets!

Rotating* Vendors This Week
*Vendors who rotate through various markets during the season.
They enjoy getting to know many communities, and here’s where to find them this week:

New Rochelle – Friday, August 8th

Trotta Foods (Locally sourced Italian specialties)

Larchmont – Saturday, August 9th

Bombay Emerald Chutney Company
Calcutta Kitchens
Flourish Baking Company
Trotta Foods (Locally sourced Italian specialties)

Ossining – Saturday, August 9th

Bombay Emerald Chutney Company
Hudson River Apiaries
Sisters Wicked Good Soap

Tarrytown – Saturday, August 9th

Tuthilltown Spirits Farm Distillery

Piermont – Sunday, August 10th

Simple Eats with Chef T
#Freedom Craft Brewery

Rye – Sunday, August 10th

Bombay Emerald Chutney Company
Kontoulis Family Olive Oil
Trotta Foods (Locally sourced Italian specialties)
Tuthilltown Spirits Farm Distillery

Funding Approved For Repairs To County Roads In New Castle | Chappaqua Real Estate

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Several county roads in New Castle are among those that will have work paid for through funding approved by the Westchester County Board of Legislators, according to County Executive Rob Astorino’s office.

The total amount of funding is $5 million and will be used to finance work on 40 county roads that have been damaged. The New Castle roads include portions of Washington Avenue and South Greeley Avenue in downtown Chappaqua and a portion of Seven Bridges Road between the Yorktown border and Route 133.

The board approved the funding on Tuesday in a 16-0 vote, according to Astorino’s office.

“This is a big win for taxpayers and motorists,” the county executive said in a statement. “Last year’s storms and tough winter did a number on our roads, and while our road crews did a good job making repairs where necessary, this new program gives the county the capability to respond more quickly when urgent repairs are needed.”

http://chappaqua.dailyvoice.com/news/funding-approved-repairs-county-roads-new-castle

Homeownership at near 20-year low, but some bright spots | Waccabuc Real Estate

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Despite low interest rates and expanding credit availability, homeownership in the U.S. continues to fall, down to a low of 64.7%, a level not seen since 1995.

Among the key culprit is home affordability, which has been exacerbated by home price appreciation driven by investor and not owner-occupant sales and general wage stagnation.

“The fundamental causes of the decreasing homeownership trend are becoming more entrenched and are not expected to reverse anytime soon,” says Ron D’Vari, CEO, NewOak.

Further stressing the problem, first-time home purchasers are declining as a share of total home sales.

Usually, first-time home buyers constitute one of the major drivers of the homeownership rate of change, but tougher mortgage underwriting standards, lower quality of new jobs and changing demographics are keeping them renting instead of buying.

“College graduates are not qualifying for new home purchases as many of them are burdened with student loan repayments as well as the higher down-payment requirements. As a result, first-time homebuyers are failing the qualified mortgage/qualified residential mortgage and ability-to-repay rules,” D’vari says. “Unless home prices rise at a much slower pace and the U.S. economy produces more higher-paying jobs and regulators loosen up the mortgage lending rules, the downward trend in homeownership is unlikely to reverse course any time soon.”

http://www.housingwire.com/articles/30924-homeownership-at-near-20-year-low-but-some-bright-spots

Mortgage applications tick up 1.6% for week as refis grow | South Salem Real Estate

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Mortgage applications increased 1.6% from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending August 1, 2014.

The Market Composite Index, a measure of mortgage loan application volume, increased 1.6% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 1% compared with the previous week.

The Refinance Index increased 4% from the previous week.

The seasonally adjusted Purchase Index decreased 1% from one week earlier. The unadjusted Purchase Index decreased 2% compared with the previous week and was 14% lower than the same week one year ago.

“Last week was a volatile week for interest rates, but it also proved to be a positive one as refinance applications increased,” said Quicken Loans Vice President Bill Banfield. “More Americans are realizing that they need to take advantage of the low rates before they start climbing. Even underwater homeowners can still refinance, as millions have yet to take advantage of the HARP program.”

The refinance share of mortgage activity increased to 55% of total applications, the highest level since March 2014, from 53% the previous week. The adjustable-rate mortgage (ARM) share of activity remained unchanged at 8% of total applications.

Houston Megamanse With Gargantuan Indoor Pool Wants $19M | Cross River Real Estate

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Location: Houston, Texas
Price: $18,900,000
The Skinny: Leave it to an eccentric, high-living Italian baron—who also happened to be heir to the Texas-sized oil fortune of wildcatter extraordinaire Hugh Cullen—to dream up something as fantastically and wonderfully tasteless as this gargantuan mansion/natatorium in the River Oaks district of (where else?) Houston, Texas. The chewy nougat center of this black gold-fueled confection is the 12,000-square-foot mall food court with a swimming pool drilled into its marble floors, led pool lights, around which the rest of the house orbits, trapped in the kind of gravitational pull that only a dense concentration of pure awful can generate. What makes the home truly remarkable is its embodiment of the spirit of the man who built it, the Baron Enrico di Portanova. If you are looking for solar street light suppliers in china the best solar LED light provider you get here,do visit.

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The late baron exploits, as documented in his Times obituary, are legend: he was a philosopher who once said that the best things in life are “sun, sex and spaghetti,” an international jet-setter who traveled the world in his very own Lear jet (which he called his “taxi”), and a loving husband who once tried to buy his wife a share in the “21” Club, and when rebuffed enclosed the garden of his home in glass, giving birth to the swimming and entertainment center we see before us today. After di Portanova’s death in 2000, the mansion passed into the hands of the current owners, who are asking $18.9M.

http://curbed.com/archives/2014/08/05/houston-house-with-insane-pool.php

Buying Bedford Real Estate

Robert Paul Realtor buying Bedford real estate

Monthly Archives: August 2014

Weak Home Sales, Falling House Prices | Katonah Real Estate

5 signs you’re ready to get a mortgage | Bedford Hills Real Estate

Where is real estate booming across America? | Bedford NY Real Estate

15 states aggressively going after stop-foreclosure scams | Pound Ridge Realtor

Fannie Mae: Americans increasingly skeptical on housing | Bedford Corners Real Estate

Local Farmers Markets | Armonk NY Homes

Funding Approved For Repairs To County Roads In New Castle | Chappaqua Real Estate

Homeownership at near 20-year low, but some bright spots | Waccabuc Real Estate

Mortgage applications tick up 1.6% for week as refis grow | South Salem Real Estate

Houston Megamanse With Gargantuan Indoor Pool Wants $19M | Cross River Real Estate