Category Archives: Lewisboro

California housing affordability declines as home prices rise | Katonah NY Homes

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California’s post-recession moment for housing affordability appears to be ending fast.

Rising home prices in the San Francisco Bay Area and other coastal markets shut out a big chunk of the state’s home-buying population last quarter, according to data published Monday by the California Assn. of Realtors. Rising mortgage interest rates also didn’t help.

The rise in mortgage costs will probably keep values from skyrocketing, but price appreciation will probably continue, said Leslie Appleton-Young, chief economist for the association. That means housing affordability probably won’t improve any time soon.

“It is going to continue to deteriorate, but perhaps at a lower rate,” Appleton-Young said. “I do think you are going to see a cooling off of price appreciation.”

Thirty-six percent of Californians could afford a single-family home at the state’s median price in the second quarter, down from 44% in the first quarter, according to the association’s housing affordability index. The state hit a record high for affordability in the first quarter of 2012, with 56% of home buyers able to buy a median-priced home.

People looking to buy a house needed to earn a minimum of $79,910 a year to qualify for a home at the statewide median price of $415,770 in the second quarter. In the prior quarter, a minimum annual income of $66,800 was needed to qualify for a home at the median home price of $350,490.

Richard Green, director of USC’s Lusk Center for Real Estate, said the decline in affordability is just the latest indication of wage stagnation in the U.S. In the post-World War II boom, home prices and wages rose in sync, making homeownership increasingly accessible, but that ended in the 1970s.

“People are not making more money, except at the high end,” Green said. “This gets at the broader problem, which is not a housing problem…. It seems to me the problem is much more of an income one.”

Madera County, in the Central Valley, was the most affordable county in the state, with 71% of home buyers there able to afford a home. San Francisco and San Mateo counties were tied for the least affordable, with only 17% of people able to buy a home in those jurisdictions.

 

 

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http://www.latimes.com/business/la-fi-housing-affordability-20130813,0,1509728.story

 

Katonah NY Weekly Real Estate Report | Katonah Homes for Sale

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Katonah   NY Weekly Real Estate Report8/15/13
Homes for sale53
Median Ask Price$899,000.00
Low Price$359,000.00
High Price$18,995,000.00
Average Size3754
Average Price/foot$415.00
Average DOM131
Average Ask Price$2,081,011.00

16 Social Media Marketing Tips From the Pros | Katonah Realtor

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Are you looking for the latest social media marketing tactics?

Do you want to know what the social media marketing pros are doing today?

Keeping up with the latest social media changes is not always easy, and our social media marketing tactics may need to be refreshed.

We asked 16 social media pros to share the best marketing tactics worth doing today.

Here’s what they have to say.

#1: Host Social Media Events

Mari SmithMari Smith

You can build a loyal, raving community by hosting online events that put the focus on your fans.

A fun and effective online event is hosting a “Fan Page Friday”—it’s essentially a virtual networking party where you allow all your fans to share links to their own pages on your page.

The event can last as long as 24 hours or more and is a great way to discover new businesses, get more fans, and build tremendous community while increasing your EdgeRank (news feed visibility), too.

Many page owners launch a Fan Page Friday event every week; however, I find it much more effective to host one about every four to six weeks, as it has a bigger impact. On my last virtual party, several thousand page owners participated, many of whom picked up as much as a hundred or more new fans as a result.

Be sure to include a hashtag like #FacebookFriday and schedule your initial invitation to go out very early in the morning. Then add another couple of invitations throughout the day.

Facebook Friday is a great way to build your community.

 

Another example is to host live webinars where you give away great content. You can monetize your time and effort by making a great offer on the webinar. Many businesses both large and small use this model well.

By way of example, my latest Facebook marketing webinar had over 13,000 registrations; I like to provide ongoing access to the replay as well. Whether your fans ever purchase from you as a result of one of these webinars, you’ll find a good percentage become evangelists for your brand and love to help spread the word to their own community.

Mari Smith, author of The New Relationship Marketing and co-author of Facebook Marketing: An Hour a Day.

 

 

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http://www.socialmediaexaminer.com/16-social-media-marketing-tips-from-the-pros/

Cooler Asking Prices Chill Hot Markets | Katonah Real Estate

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Asking home prices are losing steam as mortgage rates rise, inventories expand, and investor demand declines. Nationally, asking prices dropped 0.3 percent in July – the first month-over-month (M-o-M) decline since November 2012. Seasonally adjusted, prices rose 3.3 percent quarter-over-quarter (Q-o-Q), down from a peak of 4.2 percent in April. Year-over-year (Y-o-Y), prices are up 11 percent nationally, according to Trulia’s July market report.

In 64 out of 100 U.S. metros, the quarterly asking home price gain was lower than in the previous quarter. This slowdown was most apparent in the West Coast where prices have rebounded strongly already. Among housing markets where asking prices rose sharply Y-o-Y, price gains dipped the most Q-o-Q in Las Vegas, Oakland, and San Francisco. Other California metros, including Sacramento, Ventura County, San Jose, and Fresno, saw Q-o-Q gains drop by at least two percentage points between April and July. Meanwhile, many metros in the South and Midwest are seeing price gains accelerate, such as Atlanta (3.2 percentage points higher in July versus April) and Detroit (3.7 percentage points).

Hot Housing Markets Where Prices are Slowing Most
#U.S. MetroY-o-Y % change, July 2013Q-o-Q % change, July 2013Q-o-Q % change, April 2013Price slowdown = Difference in Q-o-Q % change, July minus April
1Las Vegas, NV32.9%7.5%12.7%-5.2%
2Oakland, CA31.0%7.2%10.8%-3.6%
3San Francisco, CA17.2%3.0%6.5%-3.5%
4Sacramento, CA33.7%6.8%10.2%-3.3%
5Portland, OR-WA18.1%3.6%6.9%-3.3%
6Ventura County, CA18.6%5.3%8.2%-2.9%
7Grand Rapids, MI18.2%5.1%7.6%-2.6%
8San Jose, CA20.9%4.5%6.9%-2.4%
9Fresno, CA19.9%5.2%7.4%-2.2%
10Salt Lake City, UT17.4%3.3%4.6%-1.3%
11Bakersfield, CA24.2%5.4%6.6%-1.2%
12Orange County, CA23.3%5.9%7.0%-1.1%
13Los Angeles, CA20.9%5.6%6.7%-1.1%
Table shows metros with the biggest decline in Q-o-Q   asking prices between April and July, among metros with large Y-o-Y   increases. The final column equals the difference between the third and   second data columns, but the numbers might not appear to add up due to   rounding.

Asking Home Prices Outpace Rents in All Major Rental Markets

Rents rose 3.9 percent year-over-year nationally, which was a big increase compared with inflation or income growth, but small compared with asking home price gains. Even as asking home prices slow down, July was the first time that prices outpaced rents in the 25 largest rental markets since Trulia started tracking rent trends in March 2011

 

 

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http://www.realestateeconomywatch.com/2013/08/cooler-asking-prices-chill-hot-markets/

 

 

Richard Gere Honorary Chair For Caramoor Harvest Dinner | Katonah Real Estate

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KATONAH, N.Y. – Actor Richard Gere will be the honorary chair for an Oct. 5 Harvest Dinner at Caramoor.

The evening begins at 5:30 p.m. with cocktails, followed by dinner prepared by the Bedford Post Inn at 6:15. A musical performance by The Knights caps the night beginning at 8 p.m. in the Venetian Theater.

The Harvest Dinner is part of the Fall Festival at Caramoor Oct. 4-5. Jazz in the Courtyard will be Oct. 4, beginning at 8 p.m. Concert tickets for The Knights Oct. 5 also are available.

Tickets for the Harvest Dinner are $425. For more information, email events@caramoor.org

 

 

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http://armonk.dailyvoice.com/events/richard-gere-honorary-chair-caramoor-harvest-dinner

Local Housing Prices hit 31-Month High | Cross River Real Estate

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A significant jump in July home prices and leap in housing inventory are the latest statistics confirming that the Rockford real estate market is realizing the return of home sellers.
The three-month rolling average price hit $113,178 in July, the highest monthly average since $117,520 in January 2011.
The July 2013 price was up slightly from $112,679 in July 2011. However, this marked seven out of the last eight months of year-over-
year price increases.
Housing sales were up 2.7 percent in Winnebago, Boone and Ogle Counties from 364 home sales in July 2012 to 374 home sales this July.
Year-over-year monthly sales have been up 10 out of the last 12 months.
“This extended run of year-over-year sales gains shows the drive to own a home is powering the Rockford housing market,” said Steve Bois, CEO of Rockford Area Realtors.
“Rising home prices fuel the selling market because existing home owners feel more secure about selling their current homes at a profit and moving up to bigger houses.”
Rockford area housing inventory reached 2,093 homes in July, the highest all year and marking the first time properties hit the 2,000 level this year.
“Enthusiasm on the part of buyers shows no signs of flagging,” Bois commented, “and add to that the addition of more than 100 sellers to the market. This indicates that both buyers and sellers believe the time is right to get into the market.”
Driving sales are the return of two key home buyer groups: millennials and move-up buyers.
Almost a quarter of now-married millennials purchased a home with their current spouse before their wedding, according to Coldwell Banker’s new Mortgage and Homebuying study.
By comparison, just 14 percent of those 45 and older purchased a
home with their current spouse before marriage.
Rising Rockford housing inventory levels indicate the return of sellers to the market.
“Existing home owners looking to purchase a better or larger home are coming back in the housing market,” Bois remarked.
“Move-up buyers coming back into the market is a true sign of housing recovery and economic growth.”
Bois said inventory should continue to expand as existing homeowners put their homes on the market, giving first-time buyers more opportunities to find a suitable home.
New national research confirms this move. Nearly half of Americans (47 percent) say they feel more comfortable purchasing a home today than at any other time in the past five years, say results of a survey by Mayflower Research.
“The data reflects an easing of the wariness Americans have felt in recent years following the housing bubble.” Bois said.
“The top two reasons for a delay—economic instability and declining real estate market—are now falling by the wayside. Americans
have rising faith in the housing market.”

 

Local Housing Prices hit 31-Month High.

1924 Plan to Drain the East River to Ease Traffic Congestion | Katonah Real Estate

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Screen-Shot-2013-08-05-at-11.40.25-AM.jpg[Click for big!]

Ten years before Norman Sper proposed filling in the Hudson River to make New York larger, a different dude wanted to do something similar on the other side of Manhattan. An article in a 1924 issue of Popular Science details a plan to drain the East River and create a 5-mile stretch of new land for more roads, subway lines, and civic buildings. The crazy idea came from Dr. John A. Harriss, identified as a “special deputy police commissioner in charge of traffic,” and the goal was to ease traffic congestion, which was supposedly so bad it was causing the city to lose $1.5 million every day.

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Two new concrete dams would have been created, one near the Manhattan Bridge and the other near Hell Gate where the Harlem and East Rivers meet:

The river then would be drained, and the 500 feet between the Manhattan and the Brooklyn docks bridged with levels supported by steel uprights. Thus would be provided a vast traffic center on stilts, joining four boroughs. The plan contemplates removal of noisy elevated structures.

From the river bed would be built subway lines, vehicular subway, taxi stands, conduit, city equipment departments, parking spaces, and private and municipal garages. On the top level would be five 100-foot boulevards for autos and pedestrians. Ramps would be provided for cross-traffic. And midway along the great thoroughfare would be erected an imposing city hall and community center.

The new city hall would house the police and health departments, as well as a music and art center. A new theater district would be built, and public schools and playgrounds would surround the civic center.

Screen-Shot-2013-08-05-at-11.38.25-AM.jpg[Click for big!]

Since the plan would removed a busy shipping waterway, the proposal also called for digging a new canal through Brooklyn and Queens, connecting the Long Island Sound with the Jamaica Bay and Atlantic Ocean. It would probably have suffered the same polluted fate as the Gowanus Canal and Newtown Creek, giving Brooklyn a trifecta of Superfund waterways. Such a shame that never happened.

 

 

1924 Plan to Drain the East River to Ease Traffic Congestion – Curbed’s Could Have Been – Curbed NY.

Bedford NY area sales highlights | Chappaqua sales up 80% – Bedford up 17% | RobReportBlog

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Sales
Armonkup 7%
Chappaquaup 80%
Pound Ridgedown 25%
Bedford Cornerseven
Bedford Villageup 17%
Bedford Hillsup 9%
South Salemup 7%
Katonahup 2%
North Salemup 11%
Mt Kiscodown 12%

Home-price growth near seven-year high | Katonah Real Estate

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Annual home-price growth in June was close to the fastest pace in seven years, as inventories of existing and new homes remained low, according to data released Tuesday.

Home prices, including distressed sales, rose 1.9% in June, and were up 11.88% from a year earlier, according to CoreLogic (NYSE:CLGX) , an Irvine, Calif.-based analysis firm. In May, prices were up 11.93% from the prior year, the fastest annual growth since February 2006.Excluding short sales and other distressed properties, prices rose 1.8% in June, and were up 10.97% from the year-earlier period, reaching the fastest annual pace since February 2006.

“The U.S. housing market experienced robust price appreciation during the first half of 2013 and our forecast calls for double-digit growth through July,” said Anand Nallathambi, CoreLogic’s chief executive. “Despite their rebound of late, home prices remain reasonable in a historical context, with most states near peak affordability levels.”

 

 

Home-price growth near seven-year high – Economic Report – MarketWatch.

U.K. House Prices Hit Five-Year High Amid Bubble Fears | Katonah Real Estate

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U.K. house prices rose to a five-year high in July as a controversial government support program fuels fears that another house price bubble may be in the making.

The Help to Buy program supports buyers by offering cheaper mortgages but doesn’t guarantee new housing supply. Help to Buy and increased home loans from banks using the separate Funding for Lending program enable home sellers to ask for higher prices for a short supply of residential property.

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Bloomberg News

A pedestrian crosses a street between rows of residential properties in the Notting Hill district of London on July 25.

That potential mismatch between demand and supply has prompted many economists to question the wisdom of the government’s support programs, fearing that they may lead to a sharp rise in house prices that can’t be sustained over the long run.

The rise in house prices is in line with other indicators that suggest the U.K.’s long-awaited economic recovery is gaining momentum. A survey of purchasing managers at construction companies released Friday recorded a surge in activity during July.

However, with wage growth remaining below inflation, Britons are still seeing their real incomes falling. The National Institute of Economic and Social Research on Friday said that Britons are being forced to dip into their savings to maintain their living standards.

A reliance on rising house prices and spending that outstrips income growth would reprise the weaknesses that contributed to the economy’s sharp contraction in the wake of the 2008 financial crisis.

Since then, the government and Bank of England have said they want to see a more balanced economy, with growth also driven by exports and increased business investment. But that rebalancing has yet to begin.

“House prices are already overvalued, and with many first-time buyers already locked out of the market, it is unlikely they are happy at the prospect of having to take on even more debt to realize their homeownership aspirations,” said Matthew Pointon, an economist at Capital Economics.

 

U.K. House Prices Hit Five-Year High Amid Bubble Fears – WSJ.com.