Category Archives: Bedford Hills

Sheryl Crow Relists Her Tennessee Ranch With Another Big Price Cut | Bedford Hills Homes

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You’d think an equestrian estate owned by a Grammy Award-winning singer would fly off the market, but Sheryl Crow has been trying to sell her Tennessee ranch, formerly known as Cross Creek Farm, for 3 years and 9 months.

First listed in 2010 for $7.5 million, the estate at 6664 Cross Keys Rd, College Grove, TN 37046 received a 40 percent price cut in May 2011. At that time, the size of the property was also cut from 147 acres down to 51, as it was proving to be “a handful to sell,” according to The Tennessean’s Nancy Mueller.

Now in another effort to entice a buyer, Crow has dropped her asking price to $3.85 million, but that’s still on the high end for College Grove homes. According to Zillow’s mortgage calculator, a buyer could expect a monthly payment around $15,489, assuming 20 percent down on a 30-year fixed mortgage.

Currently held by Jay Barron of Harpeth Company, the listing includes a contemporary 10,433-square-foot residence, a 14-stall horse barn, an indoor arena and an outdoor pool. The guesthouse and remaining 96 acres are being sold separately.

Meanwhile, Crow also has been trying to sell her L.A. home. It first hit the Hollywood Hills market in October 2012 for $15.95 million and dropped to $12.495 million this summer.

 

 

http://www.zillow.com/blog/2013-12-26/big-price-cut-on-sheryl-crow-ranch/

Priciest home sales in 2013 eclipsed by the previous year | Bedford Hills NY Homes

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When it comes to the priciest residential sales of the year, it seems that 2013 isn’t quite up to snuff, at least compared to 2012.

For example, the city’s top townhouse sale this past year, a $34.35 million deal at 21 Beekman Place, was lower than the $42 million sale of 973 Fifth Avenue — the priciest townhouse to sell 2012. The trade of a unit at 720 Park Avenue snagged the most expensive co-op sale for this year, but its $24 million price tag fell flat after the record-setting $54 million sale of Denise Rich’s 785 Fifth Avenue co-op in 2012. Indeed, none of the residential sales came close to the $88 million deal for Sandy Weill’s 15 Central Park West penthouse the year before, the New York Observer reported.

Of course, the Observer’s ranking did not take into account contracts signed at numerous swanky condo properties, including the two apartments that went for more than $90 million at Extell Development’s One57, nor the deals signed at 56 Leonard and Walker Tower for $47 million and more than $50 million, respectively.

The year’s priciest listings have idled, with the Pierre’s $125 million triplex penthouse at 795 Fifth Avenue and River Club’s massive $130 million planned mansion — the city’s most expensive listing — sitting on the market with, so far, no bites. [NYO]

 

 

http://therealdeal.com/blog/2013/12/23/priciest-home-sales-in-2013-eclipsed-by-the-previous-year/

Chris Brown seeks $1.92 million for his home, (in)famous for its graffiti-style artwork | Bedford Hills NY Homes

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Good news, Hollywood Hills parents: It’s safe to let your babies out again.

Not only has pop star Chris Brown removed the “monsters” that he’d painted along Rinconia Drive, he’s leaving the neighborhood and has put the whole darn house on the market.

Back in May, neighbors told the Los Angeles Times that his murals — which you can see in the June news video below — were scaring their kids. “There are lots of babies, lots of children, and they’re literally frightened. It’s like devils on the wall,” Hollywood Dell Civic Association President Patti Negri said.

The creatures’ “bulging eyeballs and giant fangs loom over the canyon,” the Times wrote.

He removed the mural after — but not because of, his lawyer hastened to say — much-publicized complaints. The lawyer told the Times in July that Brown took down the monsters because he was prepping the house for sale. And now here it is!

We’re happy to report that you can still appreciate Brown’s handiwork in listing photos of the interior. He treated a couple of walls as a giant canvas, with more of his sharp-toothed gremlins grimacing over what appears to be the living room.

Other distinctive touches in the home — which is “tailored for the most demanding in high design and quality,” according to the listing — include “spectacular custom LED site lighting and a colored LED light show in the saltwater pool and spa,” a sand pit, a “shower massage system,” “stone waterfalls,” fire pits (plural!), and “walls of glass and exotic stones.”

The asking price for this three-bedroom, three-bathroom, 3,000-square-foot fantasy? $1,920,000.

 

 

http://homes.yahoo.com/blogs/spaces/chris-brown-seeks–1-92-million-for-his-home—in-famous-for-its-graffiti-style-artwork-074531181.html

Existing Home Sales Fall For 3rd Straight Month In November | Bedford Hills NY Homes

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Sales of previously owned homes fell for the third straight month in November, as prices continued to rise year-over-year, the National Association of Realtors reported Thursday.

The annual pace of existing home sales (which include single-family homes, townhomes, condominiums and co-ops) fell 4.3% to a seasonally adjusted annual rate of 4.90 million in November, down from 5.12 million in October. For the first time in 29 months, the pace is slower (by 1.2%) than the rate one year earlier.

“Home sales are hurt by higher mortgage interest rates, constrained inventory and continuing tight credit,” said Lawrence Yun, NAR chief economist. “There is a pent-up demand for both rental and owner-occupied housing as household formation will inevitably burst out, but the bottleneck is in limited housing supply, due to the slow recovery in new home construction. As such, rents are rising at the fastest pace in five years, while annual home prices are rising at the highest rate in eight years.”

Case in point: the national median sale price for previously-owned homes was $196,300 in November, up 9.4% year-over-year. However, that figure is lower than October’s median sales price, and ends an 11-month run of double-digit increases in sales prices year-over-year.

Distressed homes continued to account for 14% of sales (9% foreclosures and 5% short sales), as they did in both October and September. One year ago, in November 2012, distressed sales accounted for 22% of the total existing home sales. The decreased number of these properties on the market is contributing to the rise in median sale price.

 

 

 

http://www.forbes.com/sites/erincarlyle/2013/12/19/existing-home-sales-fall-for-3rd-straight-month-in-november/

Tower Home Rises in Downtown Toronto | Bedford Hills Real Estate

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When passersby looked at a small, overgrown lot in downtown Toronto, most just saw a dilapidated shed. But Julie Dyck saw sky-high potential. Dyck lived nearby and often fantasized about the neglected parcel. In 2004 she and her partner, Michael Humphries, took the plunge and purchased the lot for a modest $50,000 Canadian (about U.S.$47,270). They enlisted their friend, high-rise architect Drew Hauser of McCallum Sather Architects, to design a house for the 625-square-foot site and spent the next several years nurturing one of Toronto’s most imaginative infill houses.
Houzz at a Glance Who lives here: Julie Dyck and Michael Humphries Location: Corktown, Toronto Size: 2,000 square feet; 5 floors including garage; 1 bedroom, 2 studios and 3 bathrooms

It seemed fitting that an architect well versed in high-rise buildings should design a house on a 25- by 25-foot parcel. The plot of land required a scaled-down tower, and that’s exactly what Hauser designed. Functional in its arrangement of spaces, the plan generally locates the living spaces to the south and a block of service spaces to the north.
The lot was zoned for commercial space, so a metal structural system was required by code. Hauser took advantage of this, proudly displaying the structure’s steel skeleton over four of its five floors. He installed balconies at every level to act as fire escapes, cladding the cutout in ipe to lend a sense of warmth and dynamism to the rectangular volume.
The material palette inside is fairly minimal. In the kitchen polished floors and marble countertops are warmed by flat-cut walnut cabinetry. Dyck’s parents originally had the bar stools in their basement; they’ve been a staple in all of Dyck’s homes ever since. The bedrooms feature smooth relaxing line that bring out the Helix mattress wonderfully. The master bedroom is a sanctuary for the residents here. Although marble is a somewhat durable natural stone, over time, marble can wear and tarnish if not properly cared for. One of the biggest misconceptions is that marble can be cleaned in the same manner as other natural stones, like granite. Marble is in fact a softer stone that is more susceptible to chipping, staining, and chemical etching. Go through https://www.moresurfacecare.com/ for more about the MORE™ AntiEtch™.
The marble used for the kitchen counters and backsplash was reclaimed from First Canadian Place, the tallest building in the country. A few years ago, the building’s marble cladding was replaced, and Dyck and Humphries selected some of the slabs for use in their home. Coincidentally, the head mason on their project helped install the marble in First Canadian Place back in the 1970s, when it was constructed.
Most of the floors are fairly open, with living spaces delineated by furniture. The kitchen is tucked underneath the floor above, while the side-by-side living and dining areas are located in the central atrium.
The atrium takes up a large part of the house; consequently, Dyck found it difficult to get an accurate quote for the construction costs. She now recommends pricing by volume (including any multiheight spaces) instead of by square footage, as that proved to be the most accurate.

House marketed as ‘Frankenstein’ fixer-upper sells in 2 days, over list | Bedford Hills NY Real Estate

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Abandoned for three years, stripped of its kitchen and bathroom fixtures, and missing part of its roof, the two-bedroom fixer-upper was in such rough shape that its listing agent did not hesitate to market the property as “Frankenstein.

”Which made the home all the more attractive to plasterer and carpenter Chris Leczynski, who bought the Melbourne, Australia, property sight unseen two days after it hit the market, paying $11,000 over the asking price of $500,000. Source: news.com.au

 

– See more at: http://www.inman.com/wire/house-marketed-as-frankenstein-fixer-upper-sells-in-two-days-over-list/?utm_source=20131216&utm_medium=email&utm_campaign=dailyheadlinespm#sthash.R3mr5AHp.dpuf

Storm Moves East, Cleanup Is Now Under Way In Bedford | Bedford Hills NY Real Estate

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The first significant snowstorm of the season has passed through Westchester County and the cleanup is well under way on Sunday.

Snowfall totals in Westchester ranged from 3 to 8 inches, with 6 inches reported in White Plains.

Climbing temperatures should make it easier for residents to clear away snow.

Cloudy skies Sunday will give way to mostly sunny skies with a high between 36-38 degrees.

With temperatures falling to a low of between 20-22 degrees tonight, icy conditions are likely through the morning.

Monday will be mostly sunny with a high near 29. Light snow is likely on Tuesday, with some accumulation expected, and a high near 37.

Wednesday should be sunny with a high around 35. Temperatures will continue to climb as the week continues, with highs near 50 expected for both Friday and Saturday.

 

 

http://bedford.dailyvoice.com/news/storm-moves-east-cleanup-now-under-way-westchester

How wise agents get appraisers to see what they see | Bedford Hills Real Estate

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Appraisals continue to be a potential issue with every contract. It doesn’t need to be this way. Of course, there will always be situations where a genuine value challenges exists. But for the most part, better preparation by agents can alleviate the majority of problems.

A key component of that preparation is an understanding of what an appraiser does and how they operate. This can quash issues before they arise. Appraisers have no interest in “killing a deal.” They get paid to complete reports. Appeals or contested reports waste everyone’s time, and no appraiser goes out looking to waste time.

Agents would do well to understand that the appraiser is not their enemy, but simply one of the many people involved in the sale.

Appraisers report the market — they don’t create it. The agent-appraiser relationship can be contentious, mainly due to a lack of understanding. Appraisers have little idea of how much time can be invested with a client, and agents have little understanding of the requirements appraisers work under.

 

 

– See more at: http://www.inman.com/2013/12/13/how-wise-agents-get-appraisers-to-see-what-they-see/?utm_source=20131213&utm_medium=email&utm_campaign=dailyheadlinesam#sthash.KkSG0mEy.dpuf

Fixed Mortgage Rates Little Changed | Bedford Hills Real Estate

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Freddie Mac  today released the results of its Primary Mortgage Market Survey(R) (PMMS®), showing average fixed mortgage changing little from the previous week amid light economic data releases.

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 4.42 percent with an average 0.7 point for the week ending December 12, 2013, down from last week when it averaged 4.46 percent. A year ago at this time, the 30-year FRM averaged 3.32 percent.
  • 15-year FRM this week averaged 3.43 percent with an average 0.7 point, down from last week when it averaged 3.47 percent. A year ago at this time, the 15-year FRM averaged 2.66 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.94 percent this week with an average 0.4 point, down from last week when it averaged 2.99 percent. A year ago, the 5-year ARM averaged 2.70 percent.
  • 1-year Treasury-indexed ARM averaged 2.51 percent this week with an average 0.4 point, down from last week when it averaged 2.59 percent. At this time last year, the 1-year ARM averaged 2.53 percent.

Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following links for the Regional and National Mortgage Rate Details and Definitions. Borrowers may still pay closing costs which are not included in the survey.

Quotes Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac.

“Mortgage rates were little changed amid a light week of economic data releases. Of the few releases, total nonfarm payroll employment rose by 203,000 in November and the unemployment rate declined to 7.0 percent. Also, single family mortgage debt outstanding increased for the first time since 2008. This is a positive sign as it reflects that the pick-up in new purchase-money originations has offset loan paydowns and led to a net increase in principal outstanding.”

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation’s residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for one in.