Category Archives: Lewisboro

New home sales fall | Cross River Real Estate

Sales of new U.S. single-family homes fell from near an 11-1/2-year high in April as prices rebounded, but demand for housing remains underpinned by declining mortgage rates and a strengthening labor market.FILE PHOTO: A new apartment building housing construction site is seen in Los Angeles, California, U.S. July 30, 2018. REUTERS/Lucy Nicholson

The Commerce Department said on Thursday new home sales dropped 6.9% to a seasonally adjusted annual rate of 673,000 units last month. March’s sales pace was revised up to 723,000 units, the highest level since October 2007, from the previously reported 692,000 units.

April’s decline followed three straight monthly increases

Economists polled by Reuters had forecast new home sales, which account for about 10% of housing market sales, would decrease 2.8% to a pace of 675,000 units in April.

Sales increased 7.0% from a year ago. The median new house price increased 8.8% from a year ago to $342,200 in April, the highest level since December 2017.

New home sales had in recent months outperformed other housing market indicators, including building permits, which had dropped for five straight months in April. New home sales are drawn from permits.

Economists attributed the recent strength in new home sales to declining mortgage rates. The new housing market has not been severely constrained by an inventory shortage, which has crippled sales of previously owned homes.

A report on Tuesday showed existing home sales fell for a second straight month in April, weighed down by a chronic shortage of more affordable houses.

The overall housing market hit a soft patch year and has contracted for five straight quarters. With the 30-year fixed mortgage rate dropping to around 4.07% from near an eight-year high of 4.94% in November, there is reason to be cautiously optimistic about the housing market.

New home sales in the South, which accounts for the bulk of transactions, declined 7.3% in April. Sales in the Midwest dropped 7.4% and those in the West tumbled 8.3%. But sales in the Northeast jumped 11.5%.

There were 332,000 new homes on the market last month, down 0.9% from March. While builders have stepped up construction of more affordable homes to meet strong demand in this market segment, land and labor shortages remain a challenge.

At April’s sales pace it would take 5.9 months to clear the supply of houses on the market, up from 5.6 months in March.

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https://www.reuters.com/article/us-usa-economy-housing/u-s-new-home-sales-fall-more-than-expected-in-april-idUSKCN1ST1QP

Housing starts fall year over year | Katonah Real Estate

US Housing Starts Rise Above Forecast

Housing starts in the US rose 5.7 percent from a month earlier to a seasonally adjusted annual rate of 1,235 thousand units in April 2019, more than an expected 1,205 thousand and following a revised 1.7 percent advance in March. 

Single-family homebuilding, which accounts for the largest share of the housing market, rose 6.2 percent to a rate of 854 thousand units in April and starts for the volatile multi-family housing segment advanced 4.7 percent to a rate of 381 thousand units. Increases in housing starts were recorded in the Northeast (84.6 percent to 144 thousand) and Midwest (42 percent to 186 thousand), while declines were seen in the South (-5.7 percent to 581 thousand) and West (-5.5 percent to 324 thousand). Starts for March were revised to 1,168 thousand from 1,139 thousand.

Building permits were up 0.6 percent to a rate of 1,296 thousand units in April, while markets had expected a 0.5 percent gain. Permits for the volatile multi-family housing segment increased 8.9 percent to 514 thousand, while single-family authorizations fell 4.2 percent to 782 thousand. Across regions, permits were higher in the West (5.3 percent to 339 thousand) and Midwest (2.2 percent to 188 thousand), but dropped in the Northeast (-4 percent to 120 thousand) and South (-1.2 percent to 649 thousand).

Year-on-year, housing starts dropped 2.5 percent and building permits decreased 5 percent.

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https://tradingeconomics.com/united-states/housing-starts

Housing construction weakness continues | Katonah Real Estate

According to a estimates from the U.S. Housing and Urban Development and Commerce Department, single-family starts continued to show weakness in March, despite the recent stabilization in the NAHB/Wells Fargo Housing Market Index (HMI). After downward revisions made to the February data, single-family starts were down 0.4% to a 785,000 seasonally adjusted annual pace in March, the lowest such rate since September 2016.

On a year-to-date basis, single-family construction is 5.3% lower than the first quarter of 2018. NAHB’s forecast, and the forward-looking HMI suggest that future data will show stabilization followed by slight gains due to recent declines in mortgage interest rates. Why not you check this out for more information about construction. However, single-family permits continued to be soft in March, declining 1.1% for the month to a 808,000 annual pace, the lowest since August 2017. Most of this is because many of the constructions that start of end up being unsuccessful, if you want to avoid this then consider reading these tool box topics to learn what you can use to successfully manage a construction.

On a regional and year-to-date basis, single-family starts are down 21% in the housing affordability challenged West, 20% in the Midwest, 2% in the Northeast and up 5% in the South.

Multifamily starts were unchanged from February to March at a 354,000 annual rate. However, comparing the first quarter of 2019 to the first quarter of 2018 shows a 19% decline for 5+ unit production.

Recent production declines are clear in the current estimates of units under production. As of March 2019, there were 531,000 single-family homes under construction. While this is 4.5% higher than a year ago, it is down from the 543,00 peak count from January 2019. Similarly, there are currently 595,000 apartments under construction, which is more than 3% lower than a year ago and down from the peak count of 625,000 in February 2017.  The combination of these declines in current construction activity are seen clearly in the graph below, with declines for total housing under construction for all of 2019.

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Mortgage rates drop to 4.28% | Katonah Real Estate

Mortgage Rates Move Lower
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that mortgage rates dropped with the beginning of spring homebuying season.Sam Khater, Freddie Mac’s chief economist, says, “Mortgage rates have dipped quite dramatically since the start of the year and house prices continue to moderate, which should help on the homebuyer affordability front. The combination of improving affordability and more inventory than the last few spring selling seasons should lead to improved home sales demand.”

News Facts30-year fixed-rate mortgage (FRM) averaged 4.28 percent with an average 0.4 point for the week ending March 21, 2019, down from last week when it averaged 4.31 percent. A year ago at this time, the 30-year FRM averaged 4.45 percent. 15-year FRM this week averaged 3.71 percent with an average 0.4 point, down from last week when it averaged 3.76 percent. A year ago at this time, the 15-year FRM averaged 3.91 percent. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.84 percent with an average 0.3 point, unchanged from last week. A year ago at this time, the 5-year ARM averaged 3.68 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 link for the Definitions. Borrowers may still pay closing costs which are not included in the survey.Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we’ve made housing more accessible and affordable for homebuyers and renters in communities nationwide. We are building a better housing finance system for homebuyers, renters, lenders, investors and taxpayers. Learn more at FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog FreddieMac.com/blog.

20 Modern Winter Cabins | Katonah Real Estate

20 Modern Winter Cabins We’d Love to Hole Up In

VIEWS41KSHARE221Designed to amplify nature, these cozy, modern cabins invite you to embrace the simple life.

Winter is the perfect time to rally family and friends for a cabin getaway, featuring days in the unspoiled snow and nights spent nursing hot (spiked) cider around the fireplace. If you’re dreaming about your own rustic retreat in the wilderness, look no further for inspiration than these 20 modern winter cabins below that demonstrate a deep respect for their snowy, wooded surrounds.

1. Delta Shelter by Olson Kundig Architects

Described by Seattle–based Olson Kundig Architects as “a steel box on stilts,” this three-story cabin in upstate Washington is fitted with four 10′ x 18′ steel shutters that are rolled over the glass windows, so it can be sealed off from the elements when not in use. In fact, the client requested that Delta Shelter be virtually indestructible: the steel exterior makes it fire-resistant, while its steel-beam legs protect it from flooding.

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Exterior, Cabin Building Type, House Building Type, Flat RoofLine, Tiny Home Building Type, Metal Roof Material, and Wood Siding Material Built in 2005 for a client looking for a compact, easy-to-maintain shelter for his and his friends’ adventures, Delta Shelter’s design was inspired by structures like tree houses and fire lookouts.
Built in 2005 for a client looking for a compact, easy-to-maintain shelter for his and his friends’ adventures, Delta Shelter’s design was inspired by structures like tree houses and fire lookouts.

2. Vindheim Cabin by Vardehaugen Architects

Architect Håkon Matre Aasarød, partner at Oslo–based studio Vardehaugen Architects, led the design of Cabin Vindheim—an off-grid cabin deep in the alpine landscape near Lillehammer, Norway, whose spaceship-like appearance gives it an otherworldly presence.

Exterior, Shed RoofLine, House Building Type, Metal Roof Material, and Wood Siding Material The cabin’s concept was simple: To create a cabin that is small and sparse yet spatially rich. The 55-square-meter (592-square-foot) cabin, commissioned by a private client and completed in 2016, comprises a large living room, bedroom, ski room, and small annex with a utility room. It functions off the water and electricity grids.
The cabin’s concept was simple: To create a cabin that is small and sparse yet spatially rich. The 55-square-meter (592-square-foot) cabin, commissioned by a private client and completed in 2016, comprises a large living room, bedroom, ski room, and small annex with a utility room. It functions off the water and electricity grids.

3. The Nook Residence by MU Architecture

Designed by Montreal–based MU Architecture, Nook Residence is an all-white retreat that harmonizes with the snowy landscape outdoors. 

Exterior, Metal Roof Material, Flat RoofLine, House Building Type, and Wood Siding Material Squinting through Quebec's seasonal fluries, one might not immediately register the Nook Residence, an all-white retreat that purposefully blends into the winter landscape. The house, designed by MU Architecture, presents itself to passersby as a blank monolith; yet around the corner, it opens onto Lake Memphremagog through expansive windows and an interior balcony. 
Squinting through Quebec’s seasonal fluries, one might not immediately register the Nook Residence, an all-white retreat that purposefully blends into the winter landscape. The house, designed by MU Architecture, presents itself to passersby as a blank monolith; yet around the corner, it opens onto Lake Memphremagog through expansive windows and an interior balcony. 

4. Split View Mountain Lodge by Reiulf Ramstad Arkitekter

This sleek cabin by Reiulf Ramstad Arkitekter adapts to the slope of the terrain, and divides into two branches of living areas. The same timber cladding of the exterior extends onto the roof, creating a unified expression.

Exterior, House Building Type, Metal Roof Material, Wood Siding Material, and Gable RoofLine Designed by Reiulf Ramstad Arkitekter for a family of four, the Split View Mountain Lodge is a holiday home near the village of Geilo, Norway. The main volume splits out to form additional annexes that frame individual views of the surrounding mountains.
Designed by Reiulf Ramstad Arkitekter for a family of four, the Split View Mountain Lodge is a holiday home near the village of Geilo, Norway. The main volume splits out to form additional annexes that frame individual views of the surrounding mountains.

 5. Juvet Landscape Hotel by Jensen & Skodvin Arkitektkontor

The minimalist cabins of this Norwegian hotel offer elegant shelter, while striking a remarkable communion with the sublime, natural environment. Billed a “landscape hotel,” the lodge features nine separate rooms that offer distinct views of the topography.

Windows and Picture Window Type Set in a beautiful stretch of fjord country about 250 miles northwest of Oslo, the Juvet Landscape Hotel is the kind of place you could not even dream up. The minimalist design of the Juvet's rooms bring guests into close contact with the Valldola River and the sublime valley beyond it.
Set in a beautiful stretch of fjord country about 250 miles northwest of Oslo, the Juvet Landscape Hotel is the kind of place you could not even dream up. The minimalist design of the Juvet’s rooms bring guests into close contact with the Valldola River and the sublime valley beyond it.

6. Treehotel in Sweden by Snøhetta

International firm Snøhetta created this new addition to Sweden’s Treehotel that’s perfect for stargazing. Barring a fear of heights, you can choose to lay your sleeping bag on the double-layered net that connects the cabin’s two bedrooms and enjoy a night under the stars.

Exterior, Cabin Building Type, Wood Siding Material, Gable RoofLine, and House Building Type <span style="font-family: Theinhardt, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Oxygen-Sans, Ubuntu, Cantarell, "Helvetica Neue", sans-serif;"/>An extension of Treehotel’s mission of bringing modern design to a serene natural environment, the 7th room is a cabin lofted among the treetops that blurs the distinction between indoors and outdoors. Designed by the renowned firm Snøhetta, the structure hovers 10 meters above the ground with a black-and-white print of the canopy covering the bottom façade, creating a trompe l’oeil effect.<span style="font-family: Theinhardt, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Oxygen-Sans, Ubuntu, Cantarell, "Helvetica Neue", sans-serif;">   </span>“/></a><figcaption>An extension of Treehotel’s mission of bringing modern design to a serene natural environment, the 7th room is a cabin lofted among the treetops that blurs the distinction between indoors and outdoors. Designed by the renowned firm Snøhetta, the structure hovers 10 meters above the ground with a black-and-white print of the canopy covering the bottom façade, creating a trompe l’oeil effect.   </figcaption></figure><h4 class=7. Troll Hus by Mork-Ulnes Architects

Hovering over a concrete plinth, Troll Hus is a vacation home that accommodates three generations of skiers in Tahoe, California. The concrete base houses ski storage and a changing area during the snowy season. And when the family isn’t skiing, they can enjoy a partially roofed patio during the summer.

Exterior, Cabin Building Type, Wood Siding Material, House Building Type, Saltbox RoofLine, and Metal Roof Material Located in California’s Sugar Bowl neighborhood, this shadowy lair by Mork-Ulnes Architects looks like something out of fairy tale. "We call the house Troll Hus, with a reference to the otherworldly beings in Norse mythology and Scandinavian folklore that are said to dwell in remote mountains," architect Casper Mork-Ulnes says.
Located in California’s Sugar Bowl neighborhood, this shadowy lair by Mork-Ulnes Architects looks like something out of fairy tale. “We call the house Troll Hus, with a reference to the otherworldly beings in Norse mythology and Scandinavian folklore that are said to dwell in remote mountains,” architect Casper Mork-Ulnes says.

8. The Koxvold by Studio Padron

This snug guesthouse in upstate New York, designed by Studio Padron, boasts bright and modern interiors that are a surprising contrast to its dark cedar facade.

Exterior, Cabin Building Type, Wood Siding Material, Tiny Home Building Type, Metal Roof Material, Shed RoofLine, and Shed Building Type Jason and Suzanne Koxvold commissioned Studio Padron to design a 200-square-foot guesthouse on their Ellenville, New York, property. The geometric structure’s dark cedar cladding contrasts with the inviting interior, which is heated by a cast-iron Jøtul stove. A layer of built-in bookshelves made from felled oak lumber also helps insulate the building in winter.
Jason and Suzanne Koxvold commissioned Studio Padron to design a 200-square-foot guesthouse on their Ellenville, New York, property. The geometric structure’s dark cedar cladding contrasts with the inviting interior, which is heated by a cast-iron Jøtul stove. A layer of built-in bookshelves made from felled oak lumber also helps insulate the building in winter.

9. Four-Cornered Villa by Avanto Architects

This carbon-neutral house by Helsinki studio Avanto Architects has a facade of dark-stained wood, but light wooden interiors. The retreat allows the owners to live simply, growing their own herbs and vegetables and catching pike at nearby Vaskivesi Lake. There is no running water; the home is solar-powered, well-insulated, and is warmed by the fireplaces.

Exterior, Metal Roof Material, Cabin Building Type, House Building Type, Flat RoofLine, and Wood Siding Material Shaped like a cross, this four-cornered villa offers four different views of its location on an island in Finland. Avanto Architects created a black exterior, dotted with large windows, to make it invisible from the nearby lake.
Shaped like a cross, this four-cornered villa offers four different views of its location on an island in Finland. Avanto Architects created a black exterior, dotted with large windows, to make it invisible from the nearby lake.

10. Quebec Hide-Away by _naturehumaine

Teeming with owls, moose, and black bears, the snowy forests of Eastern Quebec make an ideal site for a winter fortress. It was perfect for Canadian architecture firm _naturehumaine’s latest client, a behind-the-scenes movie guy who wanted a secluded place to recuperate from intensive, exhausting projects. Its geometric silhouette that echoes the classic typology of the region’s gable roof barns. 

Exterior, House Building Type, Metal Siding Material, Metal Roof Material, Gable RoofLine, and Cabin Building Type Architects Stéphane Rasselet and David Dworkind delivered with a strikingly simple concept, anchoring two stacked, rectangular volumes into a steep mountainside surrounded by awe-inspiring vistas. 
Architects Stéphane Rasselet and David Dworkind delivered with a strikingly simple concept, anchoring two stacked, rectangular volumes into a steep mountainside surrounded by awe-inspiring vistas. 

11. Nelson Cabin by CAST Architecture

On a sloping, woodland site in Wintrop Washington, CAST Architecture has created a family retreat that allows the landscape to flow through the structure. Super-insulated walls and ceilings, energy-efficient windows, and an efficient radiant heating system minimize energy consumption—even in snowy winters. 

Exterior, House Building Type, Metal Roof Material, Metal Siding Material, Shed RoofLine, and Cabin Building Type This cabin has a commodious kitchen and living area that encourages family and friends to come together for meals and conversation.
This cabin has a commodious kitchen and living area that encourages family and friends to come together for meals and conversation.

12. High House by DELORDINAIRE 

Raised to capture views of Mont-Sainte-Anne, High House is a minimalist home in Quebec, Canada designed by Paris-based studio DELORDINAIRE with white, concrete panel cladding that blends into the snowy environment, and stilts that allow sunlight to penetrate the space throughout the day. 

Exterior, Cabin Building Type, Metal Roof Material, Gable RoofLine, Concrete Siding Material, and Tiny Home Building Type White concrete panel cladding and corrugated steel roof panels give this cabin a crisp, geometric form that almost melts into the landscape on bleary, snowy days.
White concrete panel cladding and corrugated steel roof panels give this cabin a crisp, geometric form that almost melts into the landscape on bleary, snowy days.

13. Stairway to Heaven by Wood Arkitektur + Design 

In Hellerud, a borough of Oslo, Norway, local firm Arkitektur + Design used heat-treated pine and bricks to fashion a cozy, family retreat dubbed Stairway to Heaven. 

Exterior, Wood Siding Material, House Building Type, Metal Roof Material, Gable RoofLine, and Cabin Building Type Stairway to Heaven is located on the clients' parents' land, just steps away from the homeowner's childhood home. Two siblings were also building homes on the property, making it a true family compound. The architects were mindful to create a home that utilized the views, but also allowed for privacy between residents.
Stairway to Heaven is located on the clients’ parents’ land, just steps away from the homeowner’s childhood home. Two siblings were also building homes on the property, making it a true family compound. The architects were mindful to create a home that utilized the views, but also allowed for privacy between residents.

14. Mirrored Lake Cottage by UUfie 

Nestled within a forest near Ontario’s Kawartha Lakes, this modern cabin name Lake Cottage by Toronto–based architecture firm UUfie has an exterior clad in mirror panels that reflect the natural surroundings. 

Exterior, Gable RoofLine, Metal Roof Material, Cabin Building Type, Metal Siding Material, and Glass Siding Material The cabin is surrounded by a thick forest of birch and spruce.
The cabin is surrounded by a thick forest of birch and spruce.

15. Cabin on the Rock by I-Kanda Architects

Set high on a soaring granite outcropping, I-Kanda Architects’ Cabin on a Rock is a modernist, prefab cabin in New Hampshire with a 24-foot-wide sliding glass wall that captures the most scenic views. 

Exterior, Prefab Building Type, Metal Siding Material, Wood Siding Material, Cabin Building Type, House Building Type, Metal Roof Material, and Shed RoofLine "The 900-square-foot cabin perches on one piece of granite, projecting precariously over a steep drop-off to afford dramatic eastern views across the valley below," says Isamu Kanda, principal at I-Kanda.
“The 900-square-foot cabin perches on one piece of granite, projecting precariously over a steep drop-off to afford dramatic eastern views across the valley below,” says Isamu Kanda, principal at I-Kanda.

16. Mountain House by Studio Razavi Architecture

To meet with strict Alpine valley building regulations when designing this mountain house in the French alpine commune of Manigod, Studio Razavi Architecture took great care in analyzing local historical buildings to understand what their forms accomplished functionally, and how they shaped the local architectural culture. 

Exterior, Cabin Building Type, House Building Type, Gable RoofLine, Wood Siding Material, and Metal Roof Material The base of this cabin is constructed out of cast-in-place concrete with formwork using the same wood as the floor cladding above. 
The base of this cabin is constructed out of cast-in-place concrete with formwork using the same wood as the floor cladding above. 

17. Lake House by Nicholas Dudge Architects

Set within a hardwood forest along the shores of the Bras D’or Lake, and respectful of its surroundings, this cabin in Nova Scotia, Canada, was designed by local practice Nicholas Fudge Architects with a clear separation between the public and private realms. 

Exterior, Cabin Building Type, Prefab Building Type, Metal Siding Material, Flat RoofLine, Glass Siding Material, House Building Type, Wood Siding Material, and Metal Roof Material This 1,900-square-foot home was assembled on-site in just two days with wall panels consisting of staggered 2' x 4' studs on a 2' x 8' plate, which eliminates thermal bridging and maximizes energy efficiency.
This 1,900-square-foot home was assembled on-site in just two days with wall panels consisting of staggered 2′ x 4′ studs on a 2′ x 8′ plate, which eliminates thermal bridging and maximizes energy efficiency.

18. Enough House by Brian Mackay-Lyons 

Designed by Canadian architect Brian Mackay-Lyons, Enough House is a Cor-Ten steel holiday rental home with wood beam ceilings and a blend of modern and vintage furniture. A 24-foot-wide corner window looks out to the valleys in the north, and a 12-foot window frames distant views of the beach. The house is available for rent through Boutique Homes.

Exterior, Cabin Building Type, Metal Siding Material, Gable RoofLine, Metal Roof Material, Wood Siding Material, and House Building Type Enough House by MacKay-Lyons Sweetapple Architects resides on Brian MacKay Lyons' Shobac farm in Nova Scotia, a campus that allows the firm to experiment with form, materiality, and building. The Cor-Ten steel cabin, which features exposed Douglas fir plywood sheathing and stained pine flooring inside, houses an intern architect.
Enough House by MacKay-Lyons Sweetapple Architects resides on Brian MacKay Lyons’ Shobac farm in Nova Scotia, a campus that allows the firm to experiment with form, materiality, and building. The Cor-Ten steel cabin, which features exposed Douglas fir plywood sheathing and stained pine flooring inside, houses an intern architect.

19. New Jersey A-Frame Holiday Retreat  

Chad and Courtney Ludeman, the husband-and-wife team behind Philadelphia’s design-driven Lokal Hotel, transformed this classic 1960s A-frame cabin in New Jersey into a Scandinavian-inspired holiday retreat in the woods. 

Exterior, Mid-Century Building Type, A-Frame RoofLine, Wood Siding Material, Shingles Roof Material, House Building Type, and Cabin Building Type The material palette consists of concrete, bleached flooring, pine plywood, and lots of matte black and white. 
The material palette consists of concrete, bleached flooring, pine plywood, and lots of matte black and white. 

20. Mylla Hytte by Mork Ulnes Architects 

Mork Ulnes Architects designed this compact, pinwheel-shaped, pine-clad cabin on a hilltop side in the north of Oslo with four wings that branch out for distinct views.   

Exterior, Gable RoofLine, House Building Type, Wood Siding Material, Cabin Building Type, Shed RoofLine, and Metal Roof Material Planning regulations required a gable roof, which the architects split into four shed roofs carefully designed to respond to heavy snow shed and meet spatial and aesthetic wishes.
Planning regulations required a gable roof, which the architects split into four shed roofs carefully designed to respond to heavy snow shed and meet spatial and aesthetic wishes.

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https://www.dwell.com/article/modern-winter-cabin-designs-ed140478?utm_medium=email&utm_source=postup&utm_campaign=&list=1

Mortgage rates average 4.37% | Katonah Real Estate

Freddie Mac today released the results of its Primary Mortgage Market Survey®, showing that fixed-rate mortgages fell to the lowest levels since early 2018.

Sam Khater, Freddie Mac’s chief economist, says, “The combination of cooling inflation and slower global economic growth led mortgage rates to drift down to the lowest levels in a year. While housing activity has clearly softened over the last nine months and the lingering effects of higher rates from last year are still being felt, lower mortgage rates and a strong job market should rekindle demand for the spring homebuying season.”

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 4.37 percent with an average 0.4 point for the week ending February 14, 2019, down from last week when it averaged 4.41 percent. A year ago at this time, the 30-year FRM averaged 4.38 percent. 
  • 15-year FRM this week averaged 3.81 percent with an average 0.4 point, down from last week when it averaged 3.84 percent. A year ago at this time, the 15-year FRM averaged 3.84 percent. 
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.88 percent with an average 0.3 point, down from last week when it averaged 3.91 percent. A year ago at this time, the 5-year ARM averaged 3.63 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 link for the Definitions. Borrowers may still pay closing costs which are not included in the survey.

California home sales drop eighth straight month | Katonah Real Estate

California home sales close year on downward trend as home prices post mild gains, C.A.R. reports

– Existing, single-family home sales totaled 372,260 in December on a seasonally adjusted annualized rate, down 2.4 percent from November and down 11.6 percent from December 2017.

– December’s statewide median home price was $557,600, down 0.5 percent from November and up 1.5 percent from December 2017.

– Statewide active listings rose for the ninth straight month, increasing 30.6 percent from the previous year.

– The statewide Unsold Inventory Index was 3.5 months in December, down from 3.7 months in November.

– For the year as a whole, sales were down 5.2 percent from 2017.

LOS ANGELES (Jan. 17) – California home sales declined for the eighth straight month in December, and a stagnating market for much of the year pushed sales lower in 2018 for the first time in four years, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.  

Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 372,260 units in December, according to information collected by C.A.R. from more than 90 local REALTOR®associations and MLSs statewide. The statewide annualized sales figure represents what would be the total number of homes sold during 2018 if sales maintained the December pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.

December’s sales figure was down 2.4 percent from the revised 381,400 level in November and down 11.6 percent from home sales in December 2017 of 420,960. December marked the fifth month in a row that sales were below 400,000 and the lowest level of sales sold since January 2015.

“The housing market continued to shift in December and drift downward as sales have fallen double digits for the past three out of four months,” said C.A.R. President Jared Martin. “This trend is expected to continue, as buyers remain cautious about the murky housing market outlook due primarily to the volatility in the financial markets and uncertainty in the economic and political arenas.

“Additionally, housing markets in and around the wildfire areas have been exhibiting unusual patterns that could remain unsettled for the next few months. The impact, however, is confined mostly within the region and should not have a noticeable effect in the housing market at the state level.”

The statewide median home price declined to $557,600 in December. The December statewide median price was up 0.5 percent from $554,760 in November and up 1.5 percent from a revised $549,550 in December 2017. The statewide median home price for the year as a whole was $570,010, up 6.0 percent from $537,860 in 2017.

“California’s housing market in 2018 was hindered by endlessly rising home prices and interest rate hikes, which combined to erode housing affordability and hamper home sales,” said C.A.R. Senior Vice President and Chief Economist Leslie Appleton-Young. “As a result, while the statewide median home price surpassed its previous peak and set a new record in 2018, annual home sales fell for the first time in four years to a preliminary 402,750 closed escrows in California, down from 2017’s pace of 424,890.

“In the coming months, we expect a brief hiccup in sales as the government shutdown temporarily delays closings due to interruptions in IRS income verification or the processing of HUD, VA and USDA loans,” said Appleton-Young.

Other key points from C.A.R.’s December 2018 resale housing report include:

  • On a regionwide, non-seasonally adjusted basis, sales dropped double-digits on a year-over-year basis in the San Francisco Bay Area, the Central Coast, Central Valley and Southern California regions, with the Central Coast dropping the most at 24.9 percent.
  • Thirty-nine of the 51 counties reported by C.A.R. posted a sales decline in December with an average year-over-year sales decline of 20 percent. Thirty-four counties recorded double-digit sales drops on an annual basis, and 10 counties experienced an increase in sales from a year ago.
  • Sales for the San Francisco Bay Area as a whole fell 17.5 percent from a year ago. Eight of nine Bay Area counties recorded annual sales declines of more than 10 percent. Only San Francisco County posted a year-over-year increase, gaining 11.3 percent from December 2017.
  • The Los Angeles Metro region posted a year-over-year sales drop of 17.8 percent, as home sales fell 16.3 percent in Los Angeles County and 18.3 percent in Orange County.
  • Home sales in the Inland Empire declined 19.8 percent from a year ago as Riverside and San Bernardino counties posted annual sales declines of 17.7 percent and 23.1 percent, respectively.
  • The median home price continued to increase in all regions, except in the San Francisco Bay Area. On a year-over-year basis, the Bay Area median price dipped 3.6 percent from December 2017. Home prices in Marin, San Francisco, San Mateo and Santa Clara counties continued to remain above $1 million, but both San Mateo County and Santa Clara counties recorded a year-over-year price decline.
  • Statewide active listings rose for the ninth consecutive month after nearly three straight years of declines, increasing 30.6 percent from the previous year. All major regions recorded an increase in active listings, with the Bay Area posting the highest increase at 65 percent, followed by Southern California (34 percent), Central Valley (24 percent) and the Central Coast (12 percent).
  • The Unsold Inventory Index, which is a ratio of inventory over sales, increased year-to-year from 2.5 months in December 2017 to 3.5 months in December 2018. The index measures the number of months it would take to sell the supply of homes on the market at the current sales rate.
  • The median number of days it took to sell a California single-family home rose from 25 days in December 2017 to 32 days in December 2018.
  • C.A.R.’s statewide sales price-to-list-price ratio* decreased from 98.7 percent in December 2017 to 97.4 percent in December 2018.
  • The average statewide price per square foot** for an existing, single-family home statewide edged up from $268 in December 2018 to $266 in December 2017.
  • The 30-year, fixed-mortgage interest rate averaged 4.64 percent in December, up from 3.95 percent in December 2017, according to Freddie Mac. The five-year, adjustable mortgage interest rate also increased in December to an average of 4.02 percent from 3.39 from December 2017.

Graphics (click links to open):

Note:  The County MLS median price and sales data in the tables are generated from a survey of more than 90 associations of REALTORS® throughout the state and represent statistics of existing single-family detached homes only. County sales data are not adjusted to account for seasonal factors that can influence home sales. Movements in sales prices should not be interpreted as changes in the cost of a standard home. The median price is where half sold for more and half sold for less; medians are more typical than average prices, which are skewed by a relatively small share of transactions at either the lower-end or the upper-end. Median prices can be influenced by changes in cost, as well as changes in the characteristics and the size of homes sold. The change in median prices should not be construed as actual price changes in specific homes.

*Sales-to-list-price ratio is an indicator that reflects the negotiation power of home buyers and home sellers under current market conditions. The ratio is calculated by dividing the final sales price of a property by its last list price and is expressed as a percentage. A sales-to-list ratio with 100 percent or above suggests that the property sold for more than the list price, and a ratio below 100 percent indicates that the price sold below the asking price.

**Price per square foot is a measure commonly used by real estate agents and brokers to determine how much a square foot of space a buyer will pay for a property. It is calculated as the sale price of the home divided by the number of finished square feet. C.A.R. currently tracks price-per-square foot statistics for 50 counties.

Leading the way…® in California real estate for more than 110 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States with more than 190,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.

# # #


December 2018 County Sales and Price Activity
(Regional and condo sales data not seasonally adjusted)

December 2018Median Sold Price of Existing Single-Family HomesSales
State/Region/CountyDec. 2018Nov. 2018 Dec. 2017 Price MTM% ChgPrice YTY% ChgSales MTM% ChgSales YTY% Chg
Calif. Single-family home$557,600$554,760 $549,550r0.5%1.5%-2.4%-11.6%
Calif. Condo/Townhome$460,660$465,770 $446,840 -1.1%3.1%-10.0%-21.4%
Los Angeles Metro Area$500,000$512,000 $495,000r-2.3%1.0%-8.3%-17.8%
Central Coast$717,650$672,500 $657,500 6.7%9.1%-15.2%-24.9%
Central Valley$317,500$320,000 $310,000 -0.8%2.4%-8.0%-15.7%
Inland Empire$359,000$363,620 $342,000r-1.3%5.0%-10.1%-19.8%
San Francisco Bay Area$850,000$905,000 $882,000r-6.1%-3.6%-20.2%-17.5%
          
San Francisco Bay Area         
Alameda$850,000$900,000 $862,000 -5.6%-1.4%-24.2%-19.9%
Contra Costa$612,500$641,000 $600,000 -4.4%2.1%-19.1%-16.7%
Marin$1,270,500$1,172,944 $1,268,900 8.3%0.1%-21.3%-12.6%
Napa$725,000$683,500 $688,000 6.1%5.4%-14.1%-21.8%
San Francisco$1,500,000$1,442,500 $1,475,000 4.0%1.7%-24.5%11.3%
San Mateo$1,483,000$1,500,000 $1,500,000 -1.1%-1.1%-24.0%-20.4%
Santa Clara$1,150,000$1,250,000 $1,300,000 -8.0%-11.5%-22.0%-20.6%
Solano$425,000$450,000 $416,000 -5.6%2.2%-13.0%-18.5%
Sonoma$639,000$612,500 $670,000 4.3%-4.6%-10.0%-16.7%
Southern California         
Los Angeles$588,140$553,940 $577,690r6.2%1.8%-3.0%-16.3%
Orange$785,000$795,000 $785,500 -1.3%-0.1%-15.5%-18.3%
Riverside$398,000$400,000 $385,000 -0.5%3.4%-4.9%-17.7%
San Bernardino$295,000$299,450 $278,000 -1.5%6.1%-17.4%-23.1%
San Diego$618,500$626,000 $605,000 -1.2%2.2%-7.4%-14.7%
Ventura$640,000$643,740 $645,000 -0.6%-0.8%-14.0%-13.8%
Central Coast         
Monterey$590,000$630,000 $614,000 -6.3%-3.9%-26.1%-31.0%
San Luis Obispo$640,000$624,000 $590,000 2.6%8.5%-16.3%-23.7%
Santa Barbara$806,030$550,000 $730,000 46.6%10.4%-1.1%-14.8%
Santa Cruz$926,000$862,500 $831,000 7.4%11.4%-16.2%-31.7%
Central Valley         
Fresno$266,500$265,750 $259,750 0.3%2.6%-4.1%-4.7%
Glenn$246,500$225,000 $230,000 9.6%7.2%77.8%113.3%
Kern$242,380$235,250 $233,000 3.0%4.0%-7.1%-7.8%
Kings$243,000$222,000 $225,000 9.5%8.0%-7.1%-17.0%
Madera$263,000$265,000 $239,000r-0.8%10.0%-18.8%-34.6%
Merced$269,060$261,930 $239,900 2.7%12.2%22.0%11.9%
Placer$492,993$461,000 $451,500 6.9%9.2%-10.2%-18.5%
Sacramento$364,500$365,000 $350,000 -0.1%4.1%-14.8%-22.4%
San Benito$577,000$583,200 $537,000 -1.1%7.4%-15.9%-28.8%
San Joaquin$365,000$365,000 $349,720 0.0%4.4%1.1%-14.1%
Stanislaus$309,000$310,000 $300,000 -0.3%3.0%-6.2%-16.0%
Tulare$236,450$237,400 $219,500 -0.4%7.7%-11.5%-20.1%
Other Calif. Counties         
AmadorNANA $305,000 NANANANA
Butte$356,558$326,940 $304,000 9.1%17.3%97.5%105.3%
Calaveras$310,000$325,000 $285,000 -4.6%8.8%11.7%-26.5%
Del Norte$243,900$250,000 $251,500 -2.4%-3.0%-40.0%-36.8%
El Dorado$454,500$461,750 $450,000 -1.6%1.0%-15.5%-33.6%
Humboldt$308,000$310,000 $319,500 -0.6%-3.6%-15.3%-28.4%
Lake$269,000$255,000 $269,500 5.5%-0.2%17.7%-6.4%
Lassen$208,000$184,000 $175,000 13.0%18.9%53.3%0.0%
Mariposa$320,000$355,000 $310,000 -9.9%3.2%0.0%40.0%
Mendocino$424,900$414,000 $409,500 2.6%3.8%-17.0%-2.2%
Mono$541,000$725,000 $515,000 -25.4%5.0%-55.6%-42.9%
Nevada$389,950$399,000 $393,500 -2.3%-0.9%1.1%-6.0%
Plumas$262,950$289,500 $256,000 -9.2%2.7%0.0%-13.3%
Shasta$267,500$283,000 $258,250 -5.5%3.6%-1.3%6.8%
Siskiyou$182,500$226,000 $192,500 -19.2%-5.2%-13.5%-33.3%
Sutter$320,000$296,000 $270,000 8.1%18.5%26.6%5.2%
Tehama$255,000$199,000 $190,000 28.1%34.2%184.6%100.0%
Tuolumne$258,950$288,500 $269,900 -10.2%-4.1%21.2%27.0%
Yolo$429,000$429,500 $420,000 -0.1%2.1%-1.0%-19.8%
Yuba$298,000$263,000 $241,000 13.3%23.7%2.5%17.4%

r = revised
NA = not available

December 2018 County Unsold Inventory and Days on Market

(Regional and condo sales data not seasonally adjusted)

December 2018Unsold Inventory IndexMedian Time on Market
State/Region/CountyDec. 2018Nov. 2018 Dec. 2017 Dec. 2018Nov. 2018 Dec. 2017 
Calif. Single-family home3.53.7 2.5 32.028.0 25.0 
Calif. Condo/Townhome3.23.4 1.9 30.025.0 18.0 
Los Angeles Metro Area4.14.2 2.8 36.032.0 28.0 
Central Coast4.34.4 3.1 35.034.0 32.0 
Central Valley3.13.3 2.3 27.025.0 22.0 
Inland Empire4.74.7 3.4 41.537.0 34.0r
San Francisco Bay Area2.12.3 1.3 29.023.0 17.0 
           
San Francisco Bay Area          
Alameda1.71.9 1.0 24.017.0 13.0 
Contra Costa1.92.2 1.4 23.019.0 16.0 
Marin2.53.0 1.7 44.535.0 41.0 
Napa4.54.6 2.9 62.049.0 57.0 
San Francisco1.11.7 1.0 25.016.5 18.0 
San Mateo1.61.9 0.9 20.016.0 12.0 
Santa Clara1.82.1 0.9 22.018.0 9.0 
Solano2.93.0 1.9 44.541.0 36.0 
Sonoma3.23.8 1.8 54.049.0 35.0 
Southern California          
Los Angeles3.53.9 2.4 31.027.0 24.0 
Orange4.03.9 2.6 29.528.0 24.5 
Riverside4.74.9 3.4 41.036.0 32.0 
San Bernardino4.64.3 3.2 42.042.0 36.0 
San Diego3.53.9 2.3 27.022.0 18.0 
Ventura5.55.4 4.0 59.053.0 55.0 
Central Coast          
Monterey5.04.3 3.3 28.025.0 36.0 
San Luis Obispo4.94.6 3.7 37.540.0 35.5 
Santa Barbara4.05.2 3.3 41.541.0 37.0 
Santa Cruz2.83.2 1.7 35.030.5 21.0 
Central Valley          
Fresno3.23.5 2.6 23.019.0 17.0 
Glenn2.34.8 4.1 29.573.5 40.0 
Kern2.83.1 2.9 31.026.0 27.0 
Kings3.53.5 2.5 37.023.5 17.5 
Madera5.75.1 3.2 40.034.0 31.0 
Merced3.64.8 3.6 29.023.0 30.0 
Placer2.63.0 1.9 29.027.0 26.0 
Sacramento2.52.7 1.8 25.024.0 18.0 
San Benito3.13.1 2.6 33.041.5 32.0 
San Joaquin2.93.6 2.0 29.024.0 21.0 
Stanislaus3.13.3 2.2 27.025.0 21.0 
Tulare4.34.1 3.2 29.035.0 40.0 
Other Calif. Counties          
AmadorNANA 3.6 NANA 32.0 
Butte1.22.9 2.3 25.024.0 22.0 
Calaveras4.86.5 3.4 61.553.0 64.0 
Del Norte9.85.6 6.3 104.0110.0 118.0 
El Dorado4.44.4 2.4 42.041.5 48.0 
Humboldt6.05.8 3.9 34.024.5 35.0 
Lake5.37.0 4.2 54.060.5 60.5 
Lassen4.68.6 5.6 111.0110.0 90.0 
Mariposa4.14.8 5.6 59.0147.0 29.5 
Mendocino8.57.9 5.8 68.566.0 62.0 
Mono17.58.4 8.4 82.5127.0 134.0 
Nevada4.85.7 3.3 42.541.0 31.0 
Plumas8.59.8 5.7 189.5152.0 170.0 
Shasta4.04.4 3.9 38.026.5 45.0 
Siskiyou7.97.1 4.2 48.060.5 46.0 
Sutter1.92.9 2.3 39.029.5 24.0 
Tehama2.89.2 4.6 80.549.5 52.0 
Tuolumne3.85.8 3.9 65.058.5 38.0 
Yolo3.13.7 1.6 34.027.0 25.0 
Yuba2.42.9 3.1 30.030.0 27.0 

r = revised

NA = not available

read more…

https://www.car.org/aboutus/mediacenter/newsreleases/2018releases/december2018sales

Mortgage rates average 4.63% | Katonah Real Estate

Mortgage Rates Drop to Lowest Point in Three Months

Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that rates dropped significantly after several weeks of moderating.

Sam Khater, Freddie Mac’s chief economist, says, “The 30-year fixed fell to 4.63 percent this week – the lowest it has been since mid-September. Mortgage rates have either fallen or remained flat for five consecutive weeks and purchase applicants are responding with an uptick in demand given these lower rates. While the housing market softened in response to higher rates through most of this year, the combination of a low unemployment and recent downdraft in rates should support home sales heading into the early winter months.”

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 4.63 percent with an average 0.5 point for the week ending December 13, 2018, down from last week when it averaged 4.75. A year ago at this time, the 30-year FRM averaged 3.93 percent.
  • 15-year FRM this week averaged 4.07 percent with an average 0.5 point, down from last week when it averaged 4.21 percent. A year ago at this time, the 15-year FRM averaged 3.36 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 4.04 percent with an average 0.3 point, down from last week when it averaged 4.07. A year ago at this time, the 5-year ARM averaged 3.36 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 link for the Definitions. Borrowers may still pay closing costs which are not included in the survey

Home projects for the New Year | Cross River Real Estate

New Year’s Resolutions for Your Home

Easy tasks that will make you happier, healthier and even wealthier!

Prevent Bathroom Mold

Prevent Bathroom Mold

No matter where you live, the high moisture level in your bathroom can cause mold and mildew. Eliminating bathroom dampness is the key to keeping mold from growing. To do that, follow these steps:

First, after a bath or a shower, squeegee water off the shower walls. That eliminates at least three-fourths of the moisture that supports mold and mildew growth.

Second, run your bath fans during your bath or shower and for a half-hour after to flush out moisture. Or add a timer switch to make this step automatic.

Third, if you have tile, seal the grout lines annually with a standard grout sealer to waterproof them.

To get rid of the current mold, scrub with detergent and water, then let the surface dry completely. Or use a solution of 10 percent bleach and 90 percent water (a stronger bleach solution will not give better results). Spray or brush on the solution, let it sit 10 minutes, then rinse it off and let dry.

If the fans aren’t clearing out most of the moisture in your bathrooms after five to 10 minutes, your fans may not be moving enough air. Fans are certified by the volume (cfm, or cubic feet per minute) of air ‘exhausted’ out of the room. To find the recommended fan capacity for your bathroom, simply multiply the bathroom square footage by 1.1 (assuming an 8-ft. ceiling; for a 9-ft. ceiling, multiply by 1.5).

Restore Free Flow to Your Showerhead

Restore Free Flow to Your Showerhead

If the flow from your showerhead is growing weaker, the cause is probably mineral buildup. Many manufacturers recommend that you remove the showerhead and soak it in a half-and-half mixture of warm water and vinegar (any type). But there’s really no need to remove the head. Just pour the mix into a heavy-duty plastic bag and attach it to the shower arm with a rubber band. The acid in the vinegar dissolves minerals, but prolonged contact can harm some plastics and metal finishes, so remove the bag every 15 minutes and check the shower flow.

Clean Out Dryer Lint

Clean Out Dryer Lint

If you notice that it takes longer than normal for loads to dry in your clothes dryer, it may be time to clean out the vent. First detach the duct from behind the unit and then push a plumbing snake through your dryer vent from outside. Tie a rag securely to the snake end. Pull the cloth and snake through a couple of times and your clean vent will not only save energy but possibly prevent a fire as well.

If you discover that your dryer vent cover needs repair, this is how to fix it and this video shows you how to replace the vent it it’s in bad shape.

Sparkling Dishwasher

Sparkling Dishwasher

Add a cup of vinegar to your empty dishwasher and let it run a full cycle once a month or so. Your kitchen may smell a bit like a pickle jar for a few hours, but hard-water lime buildup will be rinsed away, making your spray arm and other dishwasher parts work flawlessly.

Check Your Gutters

Check Your Gutters

A 1,000-sq.-ft. roof will shed about 620 gallons of water during a 1-in. rainfall, or about 103 gallons per downspout if you have six downspouts. That’s a lot of water dumped right next to your basement. Although it may seem obvious, clean and properly functioning seamless gutter systems with downspouts that empty away from the foundation are key to avoiding major and expensive home repairs, gutter cleaning is always a good idea.

So before you leave for a vacation, take a walk around the house and check your gutters. Check to see if leaves, sticks or other debris are blocking the inlet of the downspout and preventing water from flowing down the spout. In fact, you do not need to clean gutters by yourself. Learn about Gutter Guards Gettysburg and their services to solve all your problems with gutters. Also make sure your downspout extensions are discharging the water far enough from the foundation and that you always reattach them after you mow your lawn. You should try this company for house gutters repairs.

Avoid a Scalding by Setting Your Water Heater to 120 Degrees

Avoid a Scalding by Setting Your Water Heater to 120 Degrees

Plain old tapwater can be dangerous. Water heaters set too high send thousands (mostly children) to hospitals each year with burns. Most safety experts recommend a setting of 120 degrees F. But finding that setting on the dial isn’t easy—most dials aren’t labeled with numbers.

If the stickers on the water heater don’t tell you how to set the temperature and you can’t find the owner’s manual, use this method: Run hot water at the tap closest to the water heater for at least three minutes. Then fill a glass and check the temperature. If the water is above 120 degrees, adjust the dial, wait about three hours and check again. Repeat until you get 120-degree water. For a final test, check the temperature the following morning, before anyone uses hot water.

read more…

https://www.familyhandyman.com/smart-homeowner/

NAHB Hombuilder Index Falls | Lewisboro Real Estate

United States Nahb Housing Market Index  Forecast 2016-2020

Nahb Housing Market Index in the United States is expected to be 70.00 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Nahb Housing Market Index in the United States to stand at 60.00 in 12 months time. In the long-term, the United States Nahb Housing Market Index is projected to trend around 53.00 in 2020, according to our econometric models.

 

United States Nahb Housing Market Index

 

ForecastActualQ2/17Q3/17Q4/17Q1/182020Unit
Nahb Housing Market Index677062566053

 

read more…

www.tradingeconomics.com