Daily Archives: February 18, 2015

LeBron James’ $17 Million Grove House is Still Available | Cross River Real Estate

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We haven’t heard about it much lately, so here’s a quick update. Just over four months after the abdicated King of Miami basketball LeBron James put his castle on the market, signaling that, yes, he was giving up Miami for good, the$17 million house still there. Not that that’s all that surprising. It’s only been four months. But then again the total absence of this house from headlines since then might also say something. James’ house comes with a “sommelier’s dream wine cellar”, a fancy kitchen, dockage space for two 60-foot yachts, a big wall around it, an infinity pool with a rather bold lighting scheme, 16,768 square feet of living space, 4500 square feet of entertainment space, six bedrooms, and 6.5 baths, an infinity pool, ceilings high enough for a basketball player, and some gorgeous listing photos.

In other LeBron news, he apparently keeps coming back to Miami.

 

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http://miami.curbed.com/archives/2015/02/18/

Sweet Little Cape with Its Own Sandy Beach | Waccabuc Real Estate

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Technically, this property is in Noyack, but the address is Sag Harbor, and the views are of Sag Harbor Cove. If a buyer is looking for an easy to manage weekend house, this place would fit the bill. It’s small (just 750sf) but nice, with an updated kitchen and bathroom, cozy living room with fireplace, and two bedrooms. Outside, the plot is a petite 0.18 acre, but you get your own sandy beach and a there’s an existing permit for a dock. Price isn’t bad; another house just down the street sold for $2.05M last year, but that was larger with slightly more land.

 

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http://hamptons.curbed.com/archives/2015/02/18/

Housing Starts Decline in the Midwest | South Salem Real Estate

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The pace of housing starts declined 2% in January, including a significant decrease in single-family construction in the Midwest connected to weather factors. Nonetheless, the current pace of home construction remains strong and growth should continue in 2015.

According to the joint Census Bureau and HUD release, the seasonally adjusted annual rate of housing starts came in at 1.065 million, down from a revised pace of 1.087 million in December 2014.

Jan housing starts

The rate of starts for single-family construction was down 6.7% from December, yielding a 678,000 annual pace. Most of this decline is attributable to a 31% drop for single-family starts in the Midwest, which fell from a 133,000 annual rate in December to 92,000 in January.

This decline is consistent with elements of the February NAHB / Wells Fargo Housing Market Index, which suggested declines in builder confidence due to weather factors. However, builder sentiment remains positive, and NAHB expects single-family starts to rise in the coming months given favorable job creation numbers and pent-up housing demand.

Multifamily starts remained strong in February, rising 7.5% to a 387,000 seasonally adjusted annual rate. The three-month moving average of multifamily starts has been above 350,000 since April of 2014.

Jan homes under construction

As a check on the state of the recovery in housing construction, the government data also includes a summary of housing units under construction. On a seasonally adjusted basis, there were 839,000 total homes under construction as of January. The single-family total was 366,000, which is the highest for the post-recession period and almost 9% higher than January 2014.

Multifamily units construction stand at 462,000, also a post-recession high. This estimate is more than 25% higher than the January 2014 total of 368,000.

 

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http://eyeonhousing.org/2015/02/

Mortgage applications tumble 13.2% as rates climb | Katonah Real Estate

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Mortgage applications decreased 13.2% from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending February 13, 2015.

The Market Composite Index, a measure of mortgage loan application volume, decreased 13.2% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 12% compared with the previous week. The Refinance Index decreased 16% from the previous week. The seasonally adjusted Purchase Index decreased 7% from one week earlier. The unadjusted Purchase Index decreased 2% compared with the previous week and was 1% higher than the same week one year ago.

“Mortgage rates increased to their highest level since the beginning of the year last week, and application volume dropped sharply as a result, particularly for refinances. The market index declined to its lowest level since the week ending January 2nd as purchase application activity decreased seven% and refinance applications decreased 16%. Refinance volume fell particularly for larger loans, as evidenced by the decline of almost $25,000 in the average loan size for a refinance loan,” said Mike Fratantoni, MBA’s Chief Economist.

The refinance share of mortgage activity decreased to 66% of total applications from 69% the previous week. The adjustable-rate mortgage (ARM) share of activity decreased to 5.3% of total applications.

The FHA share of total applications increased to 15.2% this week from 14.1% last week. The VA share of total applications decreased to 8.0% this week from 8.3% last week. The USDA share of total applications increased to 0.9% from 0.7% last week.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) increased to 3.93% from 3.84%, with points increasing to 0.35 from 0.31 (including the origination fee) for 80% loan-to-value ratio (LTV) loans. The effective rate increased from last week.

The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $417,000) increased to 3.92% from 3.90%, with points increasing to 0.28 from 0.19 (including the origination fee) for 80% LTV loans. The effective rate increased from last week.

The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 3.73% from 3.72%, with points decreasing to 0.12 from 0.13 (including the origination fee) for 80% LTV loans. The effective rate remained unchanged from last week.

The average contract interest rate for 15-year fixed-rate mortgages increased to 3.24% from 3.15%, with points increasing to 0.35 from 0.29 (including the origination fee) for 80% LTV loans. The effective rate increased from last week.

 

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http://www.housingwire.com/articles/32970-mortgage-applications-tumble-132-as-rates-climb

Firefighters Battle Two Bedford Home Blazes Within A Day | Bedford Hills Real Estate

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Bedford Hills fire

Bedford Hills fire

Firefighters in and near Bedford were busy on Tuesday battling two house fires in town, both of which were in the Bedford Hills Fire District.

Bedford Hills Fire Chief Joseph Lombardo said that his department responded shortly before midnight Tuesday for a chimney fire, which was at a home at 98 Buxton Road. A firefighter, who arrived in just minutes, observed heavy fire on the roof, Lombardo said, and the fire extended to the attic and roof line.

It took about an hour and a half to get the fire under control, Lombardo recalled. One firefighter was injured due to having fallen on ice, according to the chief.

The fire was caused by a malfunctioning chimney, Lombardo explained. Mutual aid was provided, according to the chief, by fire departments from Katonah, Mount Kisco, Goldens Bridge and Banksville. The Katonah Bedford Hills Volunteer Ambulance Corps (KBHVAC) and Westchester EMS were also on scene, he noted.

The blaze caused the home’s roof to collapse. The home is located at Buxton Gorge Farm, which traces its history to circa 1760. The farm is a short drive away from downtown Bedford Hills.

 

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http://bedford.dailyvoice.com/police-fire/firefighters-battle-two-bedford-home-blazes-within-day

Off-the-Grid Island Home | Bedford Corners Real Estate

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It was something like 25 degrees below zero one February in Winnipeg, Canada, when Holly McNally picked up the National Post newspaper and flipped to the travel section. A full-page story raved about Sidney Island, part of the Gulf Islands off the coast of Victoria and just south of Vancouver. Everything about it — the remoteness, the scenery — seemed to fit with Holly and her husband, Paul. “We got on a plane within days and went to check it out,” Holly says.

It was perfect for them, as well as their two Newfoundland dogs. So they snatched up a building lot and started designing an off-the-grid home with the help of Kim Smith, of Helliwell + Smith | Blue Sky Architecture. The result is a circular layout that captures views of the ocean while creating a sunny courtyard protected from the strong sea winds. It’s a place where Holly can finally garden (lacking this ability on the frozen clay prairies back home had frustrated her), and where Paul can build furniture in his woodshop. Plus, after retiring from the business they founded and ran, McNally Robinson Booksellers —one of the largest independent bookstores in Canada — they can finally kick back and enjoy a few good books. OK, a lot of good books.

Contemporary Exterior by Helliwell + Smith | Blue Sky Architecture
Helliwell + Smith | Blue Sky Architecture
Houzz at a Glance
Who lives here: Holly and Paul McNally, former owners of McNally Robinson Booksellers
Location: Sidney Island, Canada
Size: 2,000 square feet (222 square meters); 3 bedrooms plus a study, 2 bathrooms

Paul has a thing for curves, which show up in many of the bookstores the couple has designed together, hence the circular nature of the home. But practically speaking, the design serves many functions.

For one, it creates a courtyard that’s protected from the sometimes-harsh winds. Plus, it allows for a garden protected from the feral deer population on the island. Because the deer have no predators, 600 to 800 of them are removed from the island every year to keep the population somewhat in check. A 6-foot-high fence built from milled trees on the property lets Holly have her fruit trees and flowers.

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http://www.houzz.com/ideabooks/44265792?utm_source=Houzz&utm_campaign=u1024&utm_medium=email&utm_content=gallery0