Category Archives: Lewisboro

Turnover of real estate market in Azerbaijan grew by 38.6% and exceeded AZN 3.495 bn in 2013 | Katonah NY Homes

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Baku, Fineko/abc.az. The Central Bank of Azerbaijan reports that turnover of the country’s residential property market for the first 11 months of 2013 increased by 38.6% against the same term of 2012. In 2012 the index grew by 24.86% against 2011.

According to the CBA, turnover of residential property (the cash flow of notary’s offices) reached AZN 3.495 bn by 1 December 2013 versus AZN 2.52 bn a year earlier.

At the same time transfers to notary’s offices accounts for purchase/sale of residential real estate by individuals totaled AZN 1.548 bn for Jan-Nov 2013 versus AZN 1.1 bn a year earlier (+40.45%), and the withdrawals from these accounts AZN 1.947 bn versus AZN 1.419 bn (+37.22%).

At that, the CBA reports of a rise in revenues of mediators (banks, notary’s offices and realtors) for residential real estate transactions by 25.99% for Jan-Nov of 2013. As of 1 December 2013 mediators’ earnings were AZN 399.119 million versus AZN 316.795 million a year earlier.

Last year’s turnover of residential property totaled AZN 2.828 bn versus AZN 2.265 bn in 2011. At that, transfers to notary’s offices accounts for purchase/sale of residential real estate by individuals totaled AZN 1.599 bn versus AZN 1.2 bn a year earlier (+31.81%), and the withdrawals from these accounts AZN 1.228 bn versus AZN 1.05 bn (+16.84%). Last year mediators’ earnings grew 2.29-fold up to AZN 371.307 million versus AZN 162.3 million a year earlier.

 

 

 

http://abc.az/eng/news/main/78660.html

Australia Housing Report Revives Bubble Fears | Katonah Homes

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Australia’s latest housing data, while promising on the surface, has increased concern the market may be overheating, posing a potential threat to a still fragile economic recovery.

A government report Monday showed the value of home loans approved in Australia rose 1.1% in November from October and 15% from a year earlier, confirming that record-low interest rates are continuing to fuel demand for houses and apartments.

However, the data also highlighted two trends that policy makers will be less thrilled about.

First, the rise in the value of mortgages approved continues to be driven by people looking to invest in property, rather than those seeking to move into houses or apartments. Second, first-home buyers are increasingly being frozen out of a market in which house prices have hit record highs in some large cities.

“While owner-occupier demand is intensifying, investor demand is surging well ahead,” said Janu Chan, a Sydney-based economist at St. George Bank in a note to clients, pointing out that investor loans for housing exceeded 30% in November.

 

 

 

http://online.wsj.com/news/articles/SB10001424052702303819704579317782145387774?mg=reno64-wsj&url=http%3A%2F%2Fonline.wsj.com%2Farticle%2FSB10001424052702303819704579317782145387774.html

Government thinks it can fix struggling communities | Cross River Real Estate

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The Secretary of Housing and Urban Development joined the education and agriculture secretaries Thursday in a press conference to elaborate on what will be involved in President Obama’s new “promise zone” initiative.

President Barack Obama announced that he is starting a new government program designed to help economically challenged communities.

The promise zone initiative, Obama said, will focus on attracting private investment to replace distressed housing with what they call “mixed-income” housing, reducing crime, providing tax incentives to stimulate economic growth, and promoting programs to help high schools retain and graduate students.

The first five locations will be San Antonio, Philadelphia, Los Angeles, Southeastern Kentucky, and the Choctaw Nation of Oklahoma. The White House plans to announce 15 more promise zones over the next two years in blighted rural and urban areas.

HUD Secretary Shaun Donovan said the effort will integrate housing, education and crime relief efforts, and bring together local community leaders with businesses through tax credits, coordinated by federal oversight.

“This is a sharp departure from the way the government provided aid in the past,” Donovan said. “Washington would swoop in and impose solutions without working with local leaders to support their visions and strengthen all assets needed for communities to thrive.”

“We want to bring together a wide variety of stake holders to better communities,” Donovan said. “Home is the foundation of all of our lives. Now we are going to connect housing with other efforts to expand opportunity.”

Donovan said that the tax credit component of the promise zone initiative is critical, especially for housing and job creation.

“Yes, these zones will work without tax credits, but no, not to full capacity,” he said. “Those tax credits that will be proposed are critical in accelerating job creation and improving housing.”

He added he believed the promise zones initiatives and tax credits will receive bipartisan support in Congress.

http://www.housingwire.com/articles/28537-big-promises-the-white-house-is-making-now-about-housing

Katonah-Lewisboro Parents Propose New School Redistricting Option | Katonah NY Real Estate

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Edward Burt’s third-grade son may have to change schools in the fall if the Katonah-Lewisboro school board decides to close an elementary school when it votes on the matter Thursday, Jan. 23.

He isn’t alone. The Increase Miller Elementary School parent was one of dozens to attend a forum on the matter Wednesday night, moderated by Goldens Bridge resident and former Assemblyman Robert Castelli.

Mirjana Jovanovic, a mother of two at Increase Miller, asked the two Katonah-Lewisboro school board members present to consider an alternative option to moving 94 students to Katonah Elementary. Since the school runs below capacity, she proposed letting those students stay at Increase Miller and send new and incoming students to Katonah.

The idea caught steam with the board members and parents. Other parents suggested to let just those in fourth and fifth grades finish out their time at Increase Miller.

The school board formed a School Closure Task Force in June to investigate the possibility of closing one or two elementary schools in response to enrollment that has dropped by 700-plus students since 2006. The task force decided closing Lewisboro Elementary would disrupt the fewest students possible and created a redistricting plan that spread the 300-plus students across the remaining three schools.

However, Lewisboro Elementary parents asked the board to alter its redistricting plan to send their kids to only two schools. By sending them in larger groups parents argued this would prevent some students from being torn apart from their friends.

Tobin said the board agreed and the administration develop a second scenario, in which some Increase Miller kids would be redistricted to Katonah Elementary to even out the distribution among the three remaining schools. This, Burt said, would send students, including his son, to Katonah alone, without any of their friends.

“You listened to them, well you should listen to us,” Burt said. “You agreed with them, now here’s the other side of it.”

The other side of it left Burt and scores of parents filling the small room in the Lewisboro Recreation and Parks Building debating which redistricting scenario they prefer, each choosing the one that would impact their child least. Most parents supported Jovanovic’s idea because it would keep their kids together.

The first scenario would give Increase Miller 470 students, Katonah 490 and Meadow Pond 426. The second scenario would give Increase Miller 467, Katonah 472 and Meadow Pond 447.

The second scenario also comes with a lower savings total at $1.74 million, down from $1.89 million.

Tobin said she will bring the parents’ third scenario to the board at its regular meeting at 7:30 p.m. Thursday, where they are scheduled to discuss which scenario is best. If four of the seven agree the phasing in, or grandfather clause should be looked into, the administration will do so, she said.

A public hearing on the school closing is scheduled for Thursday, Jan. 16 and the final vote is Thursday, Jan. 23.

Parents may email all seven school board members, the superintendent and assistant superintendents ahead of the meeting Thursday, which will be held at the John Jay High School library on 60 Cross River Road, Cross River.

http://bedford.dailyvoice.com/schools/katonah-lewisboro-parents-propose-new-school-redistricting-option

Why 2013 Might be Housing’s Best Year Ever | Katonah NY Real Estate

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After nearly a decade of disaster that reached levels of despair not seen since the Great Depression., the year ending today was more than a turnaround year. Within its short life, it changed housing from a liability to an asset so favorable that it had to power to take the rest of the nation’s economy along for its ride upward, in the eyes of the Bernankes and Obamas.

In some ways, it changed the housing economy for years to come. Like a human life, it’s true place in history won’t be known until it is gone and some time has passed, but it will be hard to argue with the hard numbers of what was achieved in 2013.

Some examples:
◦ Home prices are rising faster than they have since the housing boom. The S&P/Case-Shiller index of property prices in 20 cities released today climbed 13.6 percent from October 2012, the biggest 12-month gain since February 2006, after a 13.3 percent increase in the year ended in September.
◦ Annual existing home sales should reach 5.1 million in 2013, the highest total in seven years, according to NAR. That is 10 percent higher than 2012’s total of almost 4.7 million.
◦ New home sales are on pace to reach 435,100 new homes sold this year, the most since 2008, according to Bloomberg. In November, purchases of new U.S. homes exceeded projections, holding near a five-year high and showing the housing recovery was gaining momentum even as mortgage rates climbed.
◦ Through the third quarter of 2013. more than 3 million homeowners returned to positive equity and homeowner equity increased by $33 billion. Some 7.1 million homes, or 14.5 percent of all residential properties with a mortgage, were still in negative equity at the end of the second quarter of 2013. This figure is down from 9.6 million homes, or 19.7 percent of all residential properties with a mortgage, at the end of the first quarter of 2013, according to CoreLogic.
◦ By the end of October, homeowners in 55 of the nation’s 100 largest markets have now recovered more than half of the equity they lost in the housing crash. Of the 84 all markets that achieved more than a 100 percent rebound in November, 58 were midsize. Additionally, 58 midsize markets (28% of the U.S. midsized markets) now have fully recovered prices.
◦ Mortgage rates rose about one full point during the year, which made buying a home more expensive for many. But at long last lending standards have begun to loosen up, perhaps because many originators are shifting from refinancing to purchase loans. Median FICO scores, for example, were at 729 in November, down from 750 in November 2012. Closing rates were 53.1% compared to 52.3% in 2012.

http://www.realestateeconomywatch.com/2013/12/why-2013-might-be-housing%e2%80%99s-best-year-ever/

Down to Earth Farmers Market | Katonah NY Homes

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Bigger and Better Than Ever:
Mamaroneck’s Winter Down to Earth Farmers Market
Opens Saturday, January 4th, 2014

Every Saturday into May
9:00 am-1:00 pm

Indoors at St. Thomas Episcopal Church
168 West Boston Post Road (at Mount Pleasant Avenue)

Down to Earth Markets is thrilled to announce that Mamaroneck’s Winter Farmers Market keeps growing!

For the 2014 season, help us welcome the largest variety of vendors yet. All winter long, local farmers and food makers will bring seasonal produce, pasture-raised meats and poultry, fresh fish, delicious breads, pickles, savory yogurt, Middle Eastern specialties, pies, pastas, locally-roasted nuts and coffees, and MORE.

On Opening Day, Saturday, January 4th, you’ll find:

American Pride Seafood

Dr. Pickle

Gaia’s Breath Farm

Gajeski Produce

Meredith’s Bread

Orchards of Concklin

Orwarshers Bakery
(Opening Day Special: FREE baguette with purchase of any bread loaf! Reg = $3.50)

Pie Lady & Son

Sohha Savory Yogurt

Stone & Thistle Farm

Taiim Falafel

Tierra Farm

Trotta Foods

Wave Hill Breads

Later in this month, these talented vendors will be joined by:

Bombay Emerald Chutney Company

Calcutta Kitchens

Flourish Baking Company

Kontoulis Family Olive Oil

Mortgage Apple Cakes

Robinson & Co. Catering Services (Fine British pies and more)

And others!

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 mission-driven company 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.