Category Archives: Chappaqua

Millions of renters say they really want to buy a home | Chappaqua Real Estate

Leave a reply

 

Millions of Americans say they want to buy a home this year, but many won’t be able to, according to a new survey from Zillow.

The reasons: Limited supply of homes, soaring prices and strict lending standards.

“The dream of homeownership remains very much alive and well,” said Zillow’s chief economist Stan Humphries. “But these aspirations must also contend with the current reality, and in many areas, conditions remain difficult.”

In all but one of 20 metro areas Zillow surveyed, 5% or more of residents said they wanted to buy a home over the next 12 months. The desire is particularly strong for renters: 10% of them want to buy. That would translate into 4.2 million first-time buyers, double the number who purchased in 2013.

That won’t happen. Inventories of homes for sale are up slightly, but there are still many local shortages.

And in some markets, like San Francisco, New York and Seattle, tight supply has translated into sky high prices few first-time buyers can afford. Nationwide, home prices are up some 11% last year, according to the S&P/Case-Shiller national home price index.

Meanwhile, mortgage rates have also been moving higher. The average rate for a 30-year fixed is about 4.3%, up about 0.8 of a percentage point compared with a year ago. That has made loan payments on a $200,000, 30-year mortgage about $90 a month more expensive.

3 reasons the housing recovery is sustainable | Chappaqua Real Estate

Leave a reply

 

The results of the 2013 Annual report from the Federal Reserve Bank of Dallas finds that the housing recovery is experiencing what appears to be a sustainable rebound.

“With a durable housing recovery at hand and the broader U.S. economy poised to further improve, we are confident that 2014 will bring new opportunities for the country and the Eleventh District, whose economic performance has led the nation forward from one of its toughest periods,” writes Dallas Fed president Richard Fisher.

Access to all four subreports, written by Dallas Fed vice president John Duca, are available here.

Duca outlines three factors that are broadly consistent with the sustainability of the recovery of real house prices.

Reaching these factors, the report states, is a necessary condition to continue a sustainable home-price turnaround. And this condition appears to have been met, considering evidence from several key measures.

1. Prices consistent with inventory

The inventory of unsold homes largely reversed course in 2011; the months’ supply of homes fell sharply. Since early 2012, this gauge has declined below the neutral six months’ supply threshold, and real house prices have risen at an annualized 4–5% since late 2012. The pace of sales relative to the level of houses for sale suggests that the balance of supply and demand will continue supporting further price increases.

2. Supply and demand is coming in line

House price levels can be sustained when the demand for housing (which mainly depends on personal income, real mortgage interest rates and credit standards) is in line with the housing supply.

Inflation-adjusted income has started to rise on a per-capita basis, and real after-tax mortgage interest rates have returned to more normal levels.

3. House prices are sustainable in light of rents and real mortgage interest rates

 

http://www.housingwire.com/articles/29316-dallas-fed-3-reasons-the-housing-recovery-is-sustainable

 

Down to Earth Farmers Market | Chappaqua Real Estate

Leave a reply

 

MAM-March 2014
Back by Popular Demand:                         Hudson River Apiaries, Maupston Design Studio, Pie Lady & Son, Trotta Pasta & MORE
Tomorrow, Saturday, March 15th Mamaroneck’s Winter Down to Earth Farmers Market 9:00 am-1:00 pm
Indoors at St. Thomas Episcopal Church                         168 West Boston Post Road (at Mount Pleasant Avenue)

Every week, fantastic local farmers and food makers come together at                        the market. They offer seasonal veggies and fruits,                        pasture-raised chicken and meats, fresh fish, pickles, cheese, savory                        yogurt, amazing breads & baked goods, locally-sourced international                        foods…the list keeps growing.

Tomorrow, in honor of St. Patrick’s Day on Monday, the market bakers are bringing Irish                        Soda Bread. If you eat gluten-free, don’t grow green with envy while                        others enjoy this treat. Meredith’s Bread has a gluten-free                        Irish Soda Bread for YOU.

From 10 am to noon, Brian Vegh will bring in the spirit with his Celtic violin playing.

Also, Trotta Pasta will have cheese-filled spinach tortellini! Normally priced at $6 for 13 ounces, this weekend they’re                        offering this specialty for just 1/2 price: $3 for 13 oz!

Everybody’s Irish in celebration of St. Patrick’s Day, or as Ed                        Trotta of Trotta Pasta says, “St. Patrick was born in England while                        under Roman rule, so that makes him Italian, right??”

VENDOR LIST FOR SATURDAY, MARCH 15th, 2014: American Pride Seafood
Danascara Cheese
Dr. Pickle
Flourish Baking Company
Gaia’s Breath Farm
Gajeski Produce
Maupston Design Studio (handspun yarns & more)
Meredith’s Bread
Orchards of Concklin
Orwarshers Bakery
Pie Lady & Son
Sohha Savory Yogurt
Stone & Thistle Farm
Taiim Falafel Shack
Tierra Farm
Trotta Pasta
Wave Hill Breads Stay tuned to all market events, day vendor listings, and more on the Mamaroneck market webpage.

Thank you for supporting local farms and food businesses.

Down to Earth Farmers Markets is a certified B (Benefit) Corporation that curates and manages approximately twenty farmers markets in Westchester and Rockland Counties, as well as in New York City. We envision a strong regional food system, built by independent farms and                        food businesses, that provides everyone with an alternative to                        industrial food. We believe that seasonal, local food is a vital part of                        our heritage that ensures the health of our communities and                        environment.

DtE_SquareLogo

If you do not wish to receive future emails from Down to Earth Markets, click here to opt-out.

Down to Earth Markets | 173 Main St. | 3rd Floor | Ossining | NY | 10562 | US

Cvent - Web-based Software Solutions

Five Places To Celebrate St. Patrick’s Day In Westchester | Chappaqua Real Estate

Leave a reply

 

Westchester’s residents are bursting with excitement to honor their Irish heritage and celebrate in the spirit of St. Patrick’s Day, Monday, March 17 — and so are its restaurants and bars. Here are five of the biggest St. Patrick’s food events coming up.

1. Yonkers Empire City Casino St. Patrick’s Day Celebration: Irish-American bands Black 47 and Shilelagh Law will be performing an outdoor trackside concert on Sunday, March 16 at 2 p.m. Jameson will be serving shots and cocktails, along with an Irish Beer tent serving Guinness, Harp Lager, Smithwick’s Irish Ale and Magner’s Cider. Corned beef and cabbage, bangers and burgers with Guinness onion rings will be served. $20

2. Burke’s Aishling Irish Community Center Fund-raiser: Burke’s Restaurant in Yonkers will be holding a fund-raiser on the night of March 14 from 8 to 10 p.m. for the Aishling Irish Center. It will additionally be having live Irish music on March 15, brunch on March 16, and March 17, St. Patrick’s Day will feature its traditional all-day corned beef and cabbage special. $30

3. Quiet Man Public House “Kegs and Eggs:” Peekskill’s Quiet Man Public House is getting an early start on St. Patrick’s Day with a “kegs and eggs” breakfast – which is exactly what it sounds like – from 7 a.m. until noon.

4. Ron Black’s St. Patrick’s Day Lunch: The local White Plains favorite will be opening at 11 a.m. on St. Patrick’s Day for lunch, and will be offering Irish beer and food specials throughout the day.

5. Molly Spillane’s All-Day Irish Music and Menu: Molly Spillane’s in Mamaroneck is throwing a reservations-only bash on St. Patrick’s Day, offering drink specials and an authentic Irish menu. Ireland native DJ Frankie Kennedy will be playing music all day, accompanied by bagpipers and step dancers.

 

http://chappaqua.dailyvoice.com/lifestyle/five-places-celebrate-st-patricks-day-westchester

 

17 Signs You Live in the Country | Chappaqua Real Estate

Leave a reply

 

1. Sorry, McMansions-it’s houses like this one that make you go weak in the knees.

2. You start mapping our your garden plans while there’s still snow on the ground.

3. You have a pet pig.

4. You drink cocktails out of Mason jars.

5. You dream of wraparound porches.

6. You think of bargain hunting as a competitive sport.

7. Forget high heels-cowboy boots are as fancy as you get.

8. You’ve pulled over to salvage a piece of furniture someone’s tossed out on the side of the road too many times to count.

9. Your chicken coop is your most-prized possession.

10. You can’t think of anything better than a glass of cold lemonade on a hot summer’s day.

11. You think the best farmer’s market is your own backyard.

12. You’d rather repurpose something old than buy something new.

13. Two words: Tree. Swing.

14. You’re not ashamed to admit you’ve taken the salt shaker straight to the garden before.

15. You fall asleep every night to the sounds of cicadas, crickets, and frogs.

 

http://shine.yahoo.com/at-home/17-signs-live-country-173100611.html

 

7 Facebook Marketing “Tips” and “Tricks” That Don’t Actually Work | Chappaqua Realtor

Leave a reply

 

People will go to all sorts of lengths to get attention from a small subset of Facebook’s 1.23 billion monthly active users. Sometimes it’s good — people focus on creating more compelling content or integrating Facebook with the rest of their marketing strategy. Though it takes more time, their Facebook Page grows steadily and actually delivers results. Continue reading →

Big Investors Boosting Home Prices, And Not Everyone’s Pleased | Chappaqua Real Estate

Leave a reply

 

It’s taken several years, but in many parts of the country, home prices are nearly back to where they were at the peak. In places like Florida, where the housing recession hit hard, home prices rose last year by one-fifth or more.

A major factor in the price rise is hedge funds, private equity firms and other large investors. They’ve moved aggressively into the residential market over the past two years, buying tens of thousands of distressed properties, often at bargain prices.

Some analysts are worried that those bulk purchases will leave middle-class buyers out in the cold.

One place where investors have been very active is Florida’s Palm Beach County. Jeff Lichtenstein is a real estate agent there, and he’s busy. He’s listing and selling homes at a pace reminiscent of the go-go days of the last real estate boom back in 2005 and 2006. “I have 19 or 20 under contract right now, which is the most I’ve had at any given time,” he says.

Lichtenstein is currently showing a home he has listed in PGA National, a resort and residential development with more than 5,000 homes. It’s a community of palm trees, lakes, golf courses and manicured lawns.

“This was built in ’92 or ’93. Three bedrooms, three baths,” he explains as he shows off the house, which has a back patio looking out onto a golf course. “The view is what people come here to Florida for.”

 

 

http://www.npr.org/2014/03/10/286261937/big-investors-boosting-home-prices-and-not-everyones-pleased

Which Home Remodeling Projects Are Worth Your Money? | Chappaqua Real Estate

Leave a reply

 

Even if you’re not planning to sell your home anytime soon, it’s an inevitable question when you consider remodeling: How much will this improvement add to the value of my home?

Surprisingly, much of the time the answer is not as much value as it costs to actually make the improvement.

But some home renovations bring you more bang for your buck than others.

The top-ranking home improvement? A new front door, which on average adds 96.6 percent of the amount you spent to the value to your home, according to Remodeling magazine’s annual Cost vs. Value Report for 2014.

But “it has to be the right front door,” says Steven Aaron, owner of the Steve Aaron Realtor Group at Keller Williams Beverly Hills and one of the protagonists of the HGTV series “Selling LA.” Keep in mind that sometimes painting the existing front door provides the same payoff.

All 35 projects included in the Cost vs. Value report added more value this year than last year, and this is the second consecutive year of increases after several years of decline.

 

http://news.yahoo.com/home-remodeling-projects-worth-money-155500763.html

10 cities where ordinary people can no longer afford homes | Chappaqua NY Homes

Leave a reply

 

It now seems pretty clear that late 2012 or early 2013 was the ideal time to purchase a home: Real-estate prices and interest rates were both near record lows, creating an unprecedented buying opportunity for those who could muster a down payment and qualify for a mortgage.

Home affordability is still pretty good by historical standards, but typical buyers are once again being priced out in at least two dozen markets ranging from coastal hotspots to lower-cost inland cities. Three factors are pushing the cost of owning a home beyond the financial reach of ordinary families: Mortgage rates are ticking upwward as the Federal Reserve backs away from the super-easy monetary policy of the past five years. Home prices are rising as the economy recovers. And incomes are barely budging, which means typical families are once again falling behind as they try to bank enough to buy a home.

We used data from research firm RealtyTrac to determine where housing affordability is deteriorating the most. At the top of the list is Salinas, Calif., where a median-priced home rose 40% from the end of 2012 to the end of 2013, to $388,000. When rising interest rates are factored in, the income required to purchase a typical home rose by a whopping 58%.

The 10 areas in the list below are ranked by the increase in income required to buy a typical home from December 2012 to December 2013. We also included RealtyTrac’s affordability-index rating for the county each city is located in, to exclude cities in which required incomes have risen but homes are still relatively cheap. (The affordability index represents the median income per county as a percentage of the required income for a typical home purchase, so cities with a rating below 100 are less affordable while those above 100 are more affordable). We also grouped cities in northern and southern California into two entries, since there are so many of them. Here are the 10 areas where home affordability is deteriorating the most:

Source: RealtyTrac

With home prices rising nationwide by an average of about 11% in 2013, the income required to buy a typical home rose in all but a handful of cities. Still, affordability remains strong in the majority of markets, says Daren Blomquist of RealtyTrac. Here are the 10 cities where affordability has either improved during the past year, or barely changed (affordability-index data isn’t available for every city).

 

http://finance.yahoo.com/news/10-cities-where-ordinary-people-can-no-longer-afford-homes-203700652.html