Category Archives: Bedford Hills

Pending home sales decline again, is weather to blame? | Bedford Hills Real Estate

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Harsh winter conditions have largely taken the blame for the recent stagnation in the housing market nationwide, but experts say the genesis of downturn goes all the way back to the warm months of 2013.

The National Association of Realtors released February’s pending home sales numbers this week, revealing an eighth consecutive month of decline in the market.

The South and Northeast saw the biggest decreases, offsetting gains in the West and Midwest.

The pending home sales index dipped 0.8 percent to 93.9, down from 94.7 in January and down 10.5 percent from February 2013.

While harsh weather may not have been the originator of the downturn, it may have stalled the stabilization that seems to be taking hold along with the warmer weather.

“Contract signings for the past three months have been little changed, implying the market appears to be stabilizing,” said NAR chief economist Lawrence Yun. “Moreover, buyer traffic information from our monthly Realtor survey shows a modest turnaround, and some weather delayed transactions should close this spring.”

 

 

http://www.bizjournals.com/birmingham/blog/2014/03/pending-home-sales-warming-up.html

Consumer Confidence and Home Price Data Nod to Stronger Growth | Bedford Hills Real Estate

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American consumer confidence surged to a six-year high in March and house prices rose solidly in January, positioning the economy for stronger growth after a soft spot attributed to bad winter weather.

The upbeat outlook, however, was dimmed somewhat by other data on Tuesday showing new-home sales at a five-month low in February, partly because of the cold weather.

“The economy is showing signs of shaking off the weather effect. We are going to get a big lift to second-quarter growth from the weather,” said Ryan Sweet, a senior economist at Moody’s Analytics in West Chester, Pa.

The Conference Board said its index of consumer attitudes rose to 82.3, from 78.3 in February. That is the highest level since January 2008, just as recession started to take hold, and it beat economists’ expectations for a reading of 78.6.

The jump in confidence bodes well for the economy, even though consumers were less upbeat about the labor market.

An unusually cold and snowy winter has held back the economy, disrupting activity that includes hiring, spending and manufacturing. Growth in the first quarter is expected to have slowed considerably from the fourth quarter’s annualized 2.4 percent pace.

http://www.nytimes.com/2014/03/26/business/confidence-and-home-price-data-point-to-stronger-growth.html?_r=0

Remarkable River Rock Home on an Ultra-Small Foundation | Bedford Hills NY Homes

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It looks like something straight out of a Photoshop contest – an impossibly small-footprint residence on a tiny jagged rock jutting out from the middle of a river, yet it is entirely real.

river home close up

 

This house has survived its its precarious semi-cantilevered position for nearly half a century, withstanding the weather of the Drina River in Serbia and attracting attention from locals and tourists alike.

 

http://homes.yahoo.com/news/remarkable-river-rock-home-ultra-small-foundation-235852209.html

Why the property market could be in trouble after the 2015 election | Bedford Hills Real Estate

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If there was one winner from the Budget,  it seems to have been property.

Chancellor George Osborne has extended part of the ‘Help to Buy’ scheme all the way until 2020.

No wonder. He wants to be as sure as he can that the current property bubble (or recovery, depending on which part of the UK you’re in) lasts until the general election in May.

But I wouldn’t rush out to stick all your newly-freed pension money into buy-to-let.

You see, ‘Help to Buy’ comes in two parts, and the extension does not apply to the most aggressive part of the scheme.

On top of that, Osborne also announced a sting in the tail that could hit central London property hard…

Help to Buy – a scheme of two halves

It easy to forget that the Help to Buy scheme is divided into two parts.

Both allow a buyer to secure a mortgage with as little as a 5% deposit. But they operate in very different ways.

The first part targets only those who want to buy a new-build house. In this case the government gives them a 20% home equity loan, which is interest-free for the first five years.

Effectively, the government owns a chunk of your house. So if you sell up, or want to buy back the government’s stake, the price will reflect the value of the house at that point.

In other words, if you bought a house at £200,000 with a £40,000 loan from the government, and the price rose to £300,000, you would have to pay £60,000 to get full ownership.

We don’t think it’s a good idea for the government to be putting taxpayers’ money on the line in the housing market. But at least this only applies to new builds. And at least the taxpayer is exposed to the upside too.

In contrast, the second part of Help to Buy is much more dangerous.

 

http://moneyweek.com/uk-property-market-could-be-in-trouble-after-the-2015-election/

 

The Windy City’s top 12 suburbs | Bedford Hills Real Estate

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Illinois real estate took a beating this winter, and Chicago is at the epicenter of the housing slowdown. Or is it?

Nestled next to Lake Michigan and home to both the Cubs and White Sox, the Windy City is one of the biggest and busiest cities in the nation.

Chicago Magazine complied a list of the 12 best suburbs in Chicago, comparing the cities based on variables like crime, homes, education and city life.

“The Chicago city market is booming, with extremely low inventory levels and high buyer demand causing bidding wars and fast market times. It’s amazing how much the marketplace has turned from a few years back,” Matt Farrell, president of the Chicago Association of Realtors, said.

Heading into the spring season, “Buyers are ready to move and as homes come on the market, they are aggressively making their best offers,” Farrell added.

“Median pricing is up, signaling a strong market on the rise. As sellers get their homes show-ready for a spring market, we believe these homes, too, will move quickly, if priced right.”

Using the list from Chicago Magazine, we’ve added in the median home price from Zillow‘s February home value index to bring you the 12 best Chicago suburbs:

Cook County

Orland Park $239,700

Named “one of the best places to live” by the magazine.

Northbrook $485,500

Northbrook is updating its Skokie Boulevard Corridor, which will be filled with new stores and apartments.

Wilmette $611,500

Wilmette is now accepting applications for tree planting, helping add to the village’s beauty.

Barrington Hills $732,600
This suburb is home to 10 key historic sites, allowing visitors to take a self-guided tour and see what life was like more than 100 years ago.
Du Page County

Wheaton $293,800

Wheaton just launched a new edition of the “Wheaton Remembers” video series, where Wheaton Community High School alumni recall what it was like to be a high school student in 1960s Wheaton.

Hinsdale $782,700

Located just 21 miles west of Chicago, this city just launched a new “Block Watch” initiative to help protect against crime.

Lake County

Highland Park $473,300

Moody’s Investors Service issued a Aaa rating on the city’s planned general obligation bond issue, affirming this rating on all outstanding debt.

Lake Bluff $558,800

Lake Bluff is the fourth-happiest seaside town as well.

Kane County

Geneva $286,500

This city also the home of Class A minor league Kane Country Cougars, if you’re in the mood for a hometown baseball game.

 

 

http://www.housingwire.com/articles/29384-the-windy-citys-top-12-suburbs

6 Ways to Upgrade Your Home This Weekend | Bedford Hills Real Estate

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Create amazing changes in 48 hours (no table saw or big budget required).

By Pamela Masin

Photo: Claire Richardson – Creating the Vintage Look

If You Have 2 Hours…

Update your window treatment-without any sewing. Ellie Laycock, the author of Creating the Vintage Look, created curtains from fun, appealing dish towels. To do it yourself, establish that the length of your dish towels covers the height of the window. Then, add the width of all your towels together and make sure that number equals the width of your window times 2.5. You can sew a hem on top, like Ellie does, but an easier option is to clip on curtain rings and slide the dishtowels across a wire. Another simple window treatment: Take a twin-size flat sheet in a fun pattern or color and, again, clip on rings to hold it to the rod.

Read More: Why Lindsay Lohan Says She Feels Like a Prisoner In Her Hotel Room

Photo: Kelle Boyd of Ann Kelle

If You Have 3 Hours…

Please give a warm welcome to Washi tape. The decorative Japanese masking tape is known for its affordable price and durability for all sorts of projects. But our favorite use of the tape is as an alternative to wall stencils. Create a rainbow-striped room like Kelle Boyd, the designer behind the brand Ann Kelle, put up a honeycomb pattern using Jane and Fern’s how-to guide or add different-colored polka dots. Don’t worry if you mess up-Washi tape can easily be removed without leaving any marks and you can reposition the same piece of tape without it losing its stickiness. A dream come true for renters and (anxious, all-thumb) crafters.

Photo: Modern Masters, Inc.

If You Have 5 Hours…

Make over your front door in metallic copper. The metal is a pretty-established home interior trend-usually found on kitchen countertops and fireplace fronts-but we love the idea of taking the trend outdoors. Try painting a metallic copper finish over a charcoal or dark-colored door to create a weathered look. Or, go for a more modern approach by painting the trim of a metallic copper door in an inky black color. For more ideas on how to update your front door, here are five more dazzling projects

 

http://shine.yahoo.com/at-home/6-ways-upgrade-home-weekend-172500833.html

Mortgage apps decline 1.2% week after big spike | Bedford Hills Real Estate

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A week after a big spike of almost 10%, mortgage applications fell 1.2%, according to data from the Mortgage Bankers Association’s weekly mortgage applications survey for the week ending March 14, 2014.

The MBA’s measure of mortgage loan application volume fell 1.2% on a seasonally adjusted basis from the week ending March 7.

The refinance index decreased 1% from the previous week. The seasonally adjusted purchase index also decreased 1% from one week earlier.

The refinance share decreased for the sixth straight week to 56.5% of total applications, down from 57% the previous week. ARMS stayed the same share of activity at 8% of total applications.

The MBA said the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) decreased to 4.5% from 4.52%, with points decreasing to 0.26 from 0.29 (including the origination fee) for 80% loan-to-value ratio loans. The effective rate decreased from last week.

The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $417,000) decreased to 4.39% from 4.41%, with points decreasing to 0.19 from 0.20 (including the origination fee) for 80% LTV loans.

The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased to 4.13% from 4.18%, with points decreasing to 0.18 from 0.21 (including the origination fee) for 80% LTV loans. The effective rate decreased from last week.

The average contract interest rate for 15-year fixed-rate mortgages decreased to 3.52% from 3.53%, with points decreasing to 0.25 from 0.28 (including the origination fee) for 80% LTV loans. The effective rate decreased from last week.

 

http://www.housingwire.com/articles/29353-mortgage-apps-decline-12-week-after-big-spike

 

Find an Apartment in the Top Cities for Singles | Bedford Hills Real Estate

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If you are single and looking for the best possible place to live, you should make your way to the sunny shores of Santa Barbara, according to Kiplinger’s recently released list of the top 10 cities for singles.

The city along California’s Central Coast—home to the University of California, Santa Barbara—sits atop the list thanks to “a financially fit populace [making for] a highly eligible dating pool,” Kiplinger reported.

Many of the other hotspots for singles are also located in college towns. If you would like to settle in a singles hotspot, we’ll play matchmaker by giving you a heads-up on what you can expect to find in its rental market.

Here are four of Kiplinger’s top 10:

Santa Barbara

Willow Springs in Santa Barbara has one-, two-, and three-bedroom apartments for rent that range from $1,740 to $2,410 per month. New units are being added to the community along with amenity upgrades aplenty. If you wind up at Willow Springs, you will be just minutes away from the ocean. The complex also features a patio and pool area perfect for relaxing with a date.

 

 

http://www.realtor.com/news/apartments-top-cities-singles/