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Aspirational Modern in Amagansett for $8.25M – On the Market | Chappaqua NY Homes
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Report: East End real estate market ‘booming’ | Chappaqua NY Homes
Home sales on the East End have skyrocketed last year compared to 2012 and 2011, according to a report released Monday by Suffolk Research Service Inc.
The research service’s president, George Simpson, described the East End market as “booming.”
His numbers show Suffolk County’s five eastern towns have seen a 61 percent increase in sales since 2011, with the median price for single family houses on the East End rising by 4 percent from 2012 to 2013.
Looking at 2013’s fourth quarter numbers, which the service just released, 116 housing units were sold in Riverhead Town, compared with 74 in the fourth quarter of 2012 and 60 during the same period in 2011.
Southold Town saw 159 houses sold in the fourth quarter of 2013, compared with 86 during that same three-month stretch of 2012.
Marie Beninati, owner of Beninati Associates in Southold, said the trend of a dwindling housing stock and rising home prices has been going on for about “six months or so,” from her experience — and has been about a year and a half in the making.
“I haven’t really done the numbers, but if you sell two houses, maybe one comes on the market,” she said, adding that rising prices isn’t ideal, but it is a natural thing to see a pendulum swing toward more of a seller’s market.
According to a Long Island Decade Survey of Residential Sales report for 2013 compiled by The Douglas Elliman Report series, there were 12,801 homes for sale on Long Island in 2013 as opposed to 14,574 in 2012 — a decrease of 12.2 percent.
http://riverheadnewsreview.timesreview.com/2014/02/51132/report-east-end-real-estate-market-booming/
Texas Real Estate Market Finishes 2013 Strong | Chappaqua NY Real Estate
The Texas real estate market finished 2013 strong, with continued year-over-year increases in sales volume and prices for single-family homes, according to the Texas Association of Realtors’ Texas Quarterly Housing Report released today.
“The Texas real estate market showed strength in sales volume and price all year long and the fourth quarter was no exception,” said Dan Hatfield, chairman of the Texas Association of Realtors. “We’ve now seen year-over-year increases in both sales volume and price every quarter for more than two years. This makes it clear – demand for Texas homes is strong and enduring.”
According to the Texas Quarterly Housing Report, 60,998 single-family homes were sold in Texas in the fourth quarter of 2013, which is 6.78 percent more than the same quarter of 2012. During the same time frame, the median price for Texas homes was $172,600, up 8.48 percent from 2012-Q4, and the average price was up 8.88 percent to $226,216.
Jim Gaines, Ph.D., economist with the Real Estate Center at Texas A&M University, explained, “One thing that is notable about the price increases seen in the fourth quarter is that they are relatively consistent across the state. Those increases are being seen in markets of every size, not just in the largest Texas markets, so that indicates broad-based appreciation for Texas real estate.”
This high demand continued to contribute to a shrinking inventory of homes in Texas. During the fourth quarter of 2013, the statewide inventory of homes decreased by one full month to 3.6 months. That figure is well below the 6.5 months that the Real Estate Center at Texas A&M University cites as a market balanced between supply and demand.
Read more here: http://www.heraldonline.com/2014/02/03/5639176/texas-real-estate-market-finishes.html#storylink=cpy
Dec. home prices see 11% annual rise | Chappaqua Real Estate
Home prices were up 11% in December year over year as 2013 marked the strongest year for home price gains since 2005, market watcher CoreLogic says.
Ten states and the District of Columbia reached new all-time price peaks, mostly in the second half of the year, CoreLogic says.
Home price gains this year are not expected to be as robust. Rising prices will attract more sellers, leading to an increased supply of homes on the market, and that will have a “moderating effect on prices,” says Mark Fleming, CoreLogic chief economist.
The 10 states hitting all-time price peaks tend to be ones with strong energy economies or places where the home price bubble didn’t inflate as much so prices fell less during the downturn.
The states are Texas, North Dakota, Nebraska, Vermont, South Dakota, Iowa, Colorado, Alaska, Oklahoma and Wyoming, CoreLogic’s data shows.
It’s hardly surprising that 2013 was the strongest year for home price gains since 2005. The historic housing bust took off in earnest in 2006 and it wasn’t until 2011 before prices started to recover in the first major markets.
Most economists see price growth slowing a lot this year, but the nagging question remains how much inventory will come on the market.
http://www.usatoday.com/story/money/business/2014/02/04/december-home-prices-corelogic/5189675/
Chappaqua Schools Will Have Two-Hour Delay Tuesday | Chappaqua Real Estate
The Chappaqua Central School District announced it will have a two-hour delayed start on Tuesday following Monday’s snowstorm.
http://chappaqua.dailyvoice.com/news/chappaqua-schools-will-have-two-hour-delay-tuesday
Tiny Greenwich Village Triplex Wants $785,000 | Chappaqua NY Real Estate
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If you were looking for a triplex apartment in Greenwich Village for under a million dollars, smart money would say you probably wouldn’t find one. But smart money would be wrong because this weird little three-room triplex on East 12th and Broadway exists. Recently renovated and located in a prewar building, the $785,000 unit features a living room on the lower level, a kitchen in the middle, and bedroom with a tiny balcony half a flight above that. It actually looks kind of nice for the price, although the placement of the kitchen is a little odd.
http://ny.curbed.com/archives/2014/02/03/tiny_greenwich_village_triplex_wants_785000.php
5 Cities With the Fastest Rising Home Prices | Chappaqua NY Homes
According to the latest data, housing prices had their best November since 2005 according to the S&P/Case-Shiller Home Price Index.
Home prices generally dip downwards in November, and while the average home price fell by a fraction of a percent (0.1% to be exactly), the chairman of the Index Committee, David Blitzer, noted that even despite the dip, “November was a good month for home prices.”
The steady road to recovery Although home prices plummeted following the financial meltdown and subsequent bursting of the housing bubble, 2013 has marked a year where home prices have rebounded significantly. Through the end of September last year, the average home price in the U.S. grew by nearly 12% since January, and prices in the major 20 cities measured in the Case-Shiller Index grew by 13.5%.
While there was wide variation in the rate of that price growth, ranging from 6% to 25%, there were still encouraging signs in all cities as home prices rose, even despite the rising mortgage rates. It is also widely anticipated that home prices will rise in 2014, just at a slower rate than what was seen in 2013.
To see which cities have watched their prices rise the most this year, as well as the national trends, check out the infographic below.
http://www.fool.com/investing/general/2014/02/02/5-cities-with-the-fastest-rising-home-prices.aspx
Case-Shiller: Home prices dipped in November | Chappaqua Homes
Home prices in November fell slightly for the first time since November 2012, as the combination of price gains earlier in 2013 and higher mortgage rates caused prices to reach a plateau, according to a leading index of housing-market activity.
The Standard & Poor’s Case-Shiller index of home prices in 20 top cities fell 0.1% in November. A separate 10-city index also fell by 0.1%, Standard & Poor’s/Dow Jones Indices said in a statement. The 20-city index showed prices 13.8% higher than a year earlier, while the 10-city index rose 13.7%.
The company said the dip is not a reversal of the housing recovery. Prices typically dip in November and this performance was the best for any November since 2005. Seasonally adjusted, prices rose 0.9% in November.
“Beginning June 2012, we saw a steady rise in year-over-year increases, (and) November continued that trend,” said David Blitzer, head of the index committee at S&P/Dow Jones Indices. “The Sun Belt continues to push ahead with Atlanta, Las Vegas, Los Angeles, Miami, Phoenix, San Diego, San Francisco and Tampa taking eight of the top nine spots.”
http://www.usatoday.com/story/money/business/2014/01/28/case-shiller-housing/4957633/
Housing Market Resumes This Downtrend | Chappaqua NY Real Estate
Despite a slight improvement in interest rates, mortgage applications and refinancing activity declined in the latest update from the Mortgage Bankers Association. For the week ended January 24, 2014, applications for home loans decreased 0.2 percent on a seasonally adjusted basis from one week earlier.
On an unadjusted basis, mortgage applications plunged 9 percent from the prior week. There have only been a handful of increases over the past nine months as the housing market is starting to return to a more sustainable pace. The Refinance Index and Purchase Index both declined 2 percent from the previous week. Meanwhile, the unadjusted Purchase Index decreased 3 percent compared with the previous week and was 12 percent lower than the same week one year ago.
Overall, the refinance share of mortgage activity accounted for 62 percent of total applications, down from 64 percent a week earlier, which was the highest level in a month. Interest rates have rebounded higher in recent months, but a disappointing jobs report earlier this month could keep rates under control for the near future as the Federal Reserve maintains a loose monetary policy. In December, the U.S. economy added only 74,000 jobs, the smallest monthly gain in three years and a far cry from the 200,000 jobs estimated by economists
http://wallstcheatsheet.com/stocks/housing-market-resumes-this-downtrend.html/?ref=YF
Buyer’s agent builds blog audience by cutting Greenwich, Conn., down to size | Chappaqua Real Estate
Instead of singing the praises of his local market, Greenwich, Conn., buyer’s agent Christopher Fountain has built an audience for his blog, “For What It’s Worth,” by tearing it down.
“The essence of his complaint,” writes the New York Times’ Landon Thomas Jr. in a profile of Fountain, is that “decades of easy money and ceaseless greed have created a glut of unsalable houses that will remain a blight on his hometown for many years.”
Fountain catalogs residents’ “run-ins with the law, debt-fueled implosions or plain old bad taste,” Thomas says, winning a “cult following” among the very people he’s making fun of: “financial titans who can afford to plunk down $5 million or more on a house.” Source: New York Times.
– See more at: http://www.inman.com/wire/greenwich-conn-agent-nabs-attention-with-blog-that-lambastes-local-real-estate/?utm_source=20140127&utm_medium=email&utm_campaign=dailyheadlinespm#sthash.VtsefwpH.dpuf