Category Archives: Pound Ridge

Here’s why there aren’t any houses to buy | Pound Ridge Homes

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The supply of existing homes on the market remains low, at 5.2 months in March, according to a report from Freddie Mac.

The total number of homes offered for sale relative to the number of households in the U.S. has been running at the lowest level in more than 30 years.

“The housing recovery is struggling to shift into a higher gear, and obviously there are various imbalances holding this back from happening, but at the heart of the matter it comes down to jobs,” said Frank Nothaft, Freddie Mac vice president and chief economist.

But these low inventory challenges are the direct offspring of several features of today’s market.

1. Underwater homeowners

Since the Mortgage Forgiveness Debt Relief Act expired on Dec. 31, 2013, many underwater homeowners are reluctant to short-sell.

CoreLogic reported that 6.5 million homeowners remained underwater as of year-end 2013.

Meanwhile, there was also a sharp decline in short sales at the beginning of 2014, from 5.2% of sales in December to 2.2% of sales in February.

2. Low rates

Many borrowers were able to refinance into record low rates in the past several years.

According to the Bureau of Economic Analysis, the average interest rate on single-family mortgages outstanding was 3.9% during the first quarter of 2014, drastically down from the average 30-year fixed-rate average rate of 4.4% for new loans during the quarter.

As a result, homeowners are reluctant to sell their current home and forego the low rate mortgage loan they currently have.

3. REO sales slow

Despite real-estate owned sales remaining strong in some markets, in aggregate REO sales have slowed considerably over the past couple of years.

 

 

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Here’s why there aren’t any houses to buy

Dracula’s castle is now for sale in Romania | Pound Ridge Real Estate

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A view of Bran Castle, Romania. (Daniel Williams/The Washington Post)

The Transylvanian castle erroneously reputed to be the abode of that terrifying abomination Dracula is now technically “for sale.” Bran Castle, an atmospheric pile perched atop a crag, is set to be sold off by its Habsburg owners. The Romanian government has reportedly lodged an $80 million bid.

The fortress dates to the 13th century and has been occupied by various bands of warriors and knights over the years. Images of Bran Castle supposedly reached Bram Stoker, the 19th-century Irish author of “Dracula,” who drew inspiration for his famous work from travelogues and sketches by British diplomats and adventurers in what was then Wallachia (modern-day Romania). He envisioned the scene surrounding the vampire’s lair like so:

The castle is on the very edge of a terrific precipice. A stone falling from the window would fall a thousand feet without touching anything! As far as the eye can reach is a sea of green tree tops, with occasionally a deep rift where there is a chasm. Here and there are silver threads where the rivers wind in deep gorges through the forests.

Bran Castle fits the bill and has since become a popular tourist destination for those seeking their Dracula thrills. The structure was in the possession of the Romanian Habsburg royal line, but it was appropriated by the state with the advent of Communism. After the fall of the Iron Curtain, the Habsburgs’ descendants were ceded back the fortress and set about restoring it — making it the desired attraction it now is.

 

 

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http://www.washingtonpost.com/blogs/worldviews/wp/2014/05/14/draculas-castle-is-now-for-sale-in-romania/?tid=up_next

China’s housing bubble is collapsing, and here’s what it looks like | Pound Ridge Homes

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So what?

Well, for China, there’s a lot to worry about. China’s middle-class consumers have huge chunks of their personal wealth wrapped up in the housing market. So, a disastrous bust would severely impact consumer confidence and undermine China’s effort to rebalance its economy toward domestic demand.

 

A housing bust would also have deleterious effects on the Chinese financial system, raising the risk of either a Lehman-like crisis or a Japan-style zombification of the economy (perhaps both). Either would be a big blow to Chinese growth, which already seems to be slowing fast. The OECD just cut its growth forecast for China, citing concerns about the financial system, and president Xi Jinping told his compatriots a couple of days ago to get ready for a “new normal” of slower growth. And as these charts suggest, those concerns are quite well placed.

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http://qz.com/208532/chinas-housing-bubble-is-collapsing-and-heres-what-it-looks-like/#208532/chinas-housing-bubble-is-collapsing-and-heres-what-it-looks-like/

What the reliance on cash sales means for housing | Pound Ridge Real Estate

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All-cash purchases accounted for almost 43% of all sales of residential property in the first quarter of 2014, up from almost 38% in the previous quarter and 19% in the first quarter of 2013, according to data released Thursday from real-estate data firm RealtyTrac. “It’s a surprising thing for us that cash sales have stayed high for so long even though the big hedge fund investors have pulled out of the market a bit,” says Daren Blomquist, vice president at RealtyTrac. “The high percentage of cash sales reveals the soft underbelly of the housing recovery.”

Experts say the high percentage of those paying cash won’t last much longer, though. “Cash buyers will become few and far between,” Blomquist says. So who does have the money to buy a home outright? Wealthy Americans and downsizing empty nesters make some of these all-cash deals, he says. Investors who are eager to make a profit by buying low and renting those properties — or flipping them — also drive up the number of all-cash deals, he adds.

Institutional investors — people or companies that have purchased at least 10 properties in a calendar year — appear to be gradually pulling out of the housing market. Investors accounted for 5.6% of all U.S. residential sales in the first quarter, down from 6.8% in the fourth quarter of 2013 and 7% in the first quarter of 2013. But while the share of institutional investor buyers declined in 18 of the top 20 markets for institutional investors, home prices continued to appreciate in most of those markets, although at a slower pace. “But price appreciation will definitely flatten out,” he adds.

The top five markets for cash sales were in Florida, which experienced one of the biggest property crashes after the 2008 recession: Cape Coral-Fort Myers (74%), Miami (67%), Sarasota (65%), Palm Bay (64%), and Lakeland (62%). Other major metro areas where over half of all property sales were done in cash included New York (57%), Columbia, S.C., (56%), Memphis, Tenn. (55%), Detroit, Mich. (53%), Atlanta (53%) and Las Vegas (52%). Many high-end homes are also purchased with cash and buyers in competitive areas where inventory is low are more likely to offer cash.

Not everyone agrees that the housing market is so reliant on cash. The National Association of Realtors says its data suggests the rate of cash sales is lower and on the decline. All-cash sales comprised 33% of transactions in March versus 35% in February and 30% in March 2013, according to data released last month. Individual investors purchased 17% of homes in March, down from 21% in February and 19% in March 2013, the NAR found. But existing home sales were flat in March, the report found. The pool of potential buyers is limited due to tight lending standards and rising interest rates, experts say.

 

 

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http://www.marketwatch.com/story/43-of-2014-home-buyers-paid-all-cash-2014-05-08?siteid=yhoof2

 

10 NYC One-Bedrooms You Can Buy for $600,000 | Pound Ridge Real Estate

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The last Price Points column found the best two-bedrooms available for $675,000, so we’re going a little smaller and a little cheaper for this roundup: one-bedrooms for $600K. StreetEasy shows the median price for one-bedrooms in Brooklyn and Manhattan to be under $700,000, but there is quite a bit of inventory for one hundred grand cheaper. First up, there’s a one-bedroom in Williamsburg offering up “the finest in indoor and outdoor living” with a living space and bedroom that open onto a large private terrace. The condo has marble countertops, newly updated appliances, and an in-unit washer and dryer. The apartment also comes with a deeded parking space in the garage below the elevator-ed building, and buyers have access to a communal gym. Asking price is an even $600,000

 

 

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http://ny.curbed.com/archives/2014/05/06/behold_10_nyc_onebedrooms_you_can_buy_for_600000.php

 

Catching Great Yogi Berra Lists Longtime Home Base in N.J. | Pound Ridge Real Estate

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Location: Montclair, N.J.
Price: $888,000
The Skinny: Set aside any preconceived notions of what the home of an octogenarian baseball player with a propensity for folksy malapropisms should look like, and you won’t be surprised at the restrained, charming interior of the long-time home of legendary Yankees catcher Yogi Berra, which just hit the market in Montclair, N.J. The relatively tasteful look of the home just might spring from the influence of his late wife, Carmen, who was known for her elegance and of whom he once remarked, “I guess I’ve got a smart wife.” Home to the pair (who were married for over 65 years!) from 1974 until her passing in March, the former Yankee great is reported to now be looking to downsize. Though as the voluble Hall of Famer would say, “A nickel ain’t worth a dime anymore”, the asking price of $888K isn’t bad for a 112-year-old, six-bedroom home less than 25 miles from Yankee Stadium, especially one as obviously well cared-for as this one.

 

 

 

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http://curbed.com/archives/2014/05/02/catching-great-yogi-berra-lists-longtime-home-base-in-nj.php

 

 

 

 

Charming Façade, Crisp Interiors in East Hampton | Pound Ridge Real Estate

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74 Sherrill Road East Hampton
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Just outside the village is this newly built house asking $2.049M. What we love about it is the incredibly sweet exterior combined with the modern, bright, airy interior. The house is compact at 1875sf, but there are still three bedrooms and three beautiful bathrooms, and the open plan feels spacious. The plot is similarly small, at 0.16 acre, but offers a gunite pool for lazy summer afternoons. Plus, you’re within easy walking distance to town, restaurants, and the movies. Make a deal to buy the furniture and move right in!

 

 

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http://hamptons.curbed.com/archives/2014/04/29/charming_facade_crisp_interiors_in_east_hampton.php

A pool that cleans itself? naturally with pool cleaning service| Pound Ridge Homes

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Summer’s heat is not far behind the bursting of spring blooms and windy rains. Imagine yourself cooling off by floating in a backyard pool that feels immersed in nature.

Natural swimming pools use plants or a combination of plants and sand filters to keep the water clean and clear without chemicals, these and others accesories  you can find. They were developed in Austria and Germany in the 1980s and have since grown in popularity worldwide. contemporary landscape by Genus Loci Ecological Landscapes Inc.

Genus Loci Ecological Landscapes Inc.
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They can be designed in a multitude of ways: Some look like natural ponds; others may be disguised as standard tiled pools. And if you want to clean leaf from pool and want to buy blower then you must visit to Worx WG546 Turbine Cordless Leaf Blower Review. Power failure is a common problem when you face a flooding situation and your sump pump will, at best, be a sitting duck unable to provide any relief. A battery backup sump pump system is your only reliable solutions in such a scenario. It’s most often installed on the basement floor to drain away any water when power is unavailable, to the pump directly, from the house supply line. When the power fails, the battery back-up sump systems are available to power the secondary pump so that water can continue to be pumped from the basement sump pit until the main power supply is restored. Pressure Coach provide a best sump pump for your swimming poll and other use.

Whatever look you are trying to achieve, the principles of function are the same for both natural swimming pools and traditional ones, the best bet is always to get a custom swimming pool.

How they work. Natural swimming pools rely on a constructed wetland of plants and gravel to filter the water in an area called the regeneration zone. This zone is like a water garden; a variety of plants selected by a natural pool specialist or a landscape architect create an ecosystem that cleans the pool water, I always recommended Maple Land Works Services for the perfect landscaping.
traditional landscape by R. P. Marzilli & Company Landscape Contractor
R. P. Marzilli & Company Landscape Contractor
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How the zones interact. The regeneration zone’s size and depth are related to the volume of water to be cleaned. The planted zone is shallower than the swimming area. Clean water slowly flows from the planted zone into the swimming zone.

A specialized water skimmer removes large debris that falls on the water’s surface in the swim zone. The skimmer is fitted with a fine sieve that removes small debris before the water is circulated into a biological filter. Additional equipment, like UV light filters and filters that use sand to remove phosphorous, is helpful in maintaining the balance in a natural pool system.

traditional pool by Armond Aquatech Pools
Armond Aquatech Pools
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How much space do you need? Natural swimming pools can be small enough for an urban yard or extra large for a rural property, Swimming Pool Remodeling Contractors recommend have an adequate maintenance. The relationship between the regeneration and swimming zones can also vary depending on the space available. For instance, a rectilinear pool can be designed as the swimming area, with the water circulation apparatus running underground to the regeneration zone. In the most common setup, the regeneration zone is directly adjacent to the swimming zone, as shown here, with edges that allow for a specific volume of water to flow over the edge. Generally, the size of the zones should be equal for adequate water cleansing.
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http://www.houzz.com/ideabooks/25802335?utm_source=Houzz&utm_campaign=u494&utm_medium=email&utm_content=gallery0

Building and retaining a successful real estate team: Identify strengths, procedures and your ‘big why’ | Pound Ridge Real Estate

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You’ve decided to start a real estate team, determined your compensation models and hired a really terrific person. The next issue you will face will be how to integrate that person into your new or existing team and how to retain him. When agents start a team, most become frustrated when the team does not perform well right from the beginning.

A critical point to keep in mind is that building a high-performance team requires time, patience and the team leader’s attention. Psychologist Bruce Tuckman created an excellent model that describes the four steps required in creating and maintaining a successful team.

The four steps are, “forming, storming, norming and performing.”Whether you are starting your team from scratch or adding new members to an existing team, a critical point to keep in mind is that you must go through the process below every single time the team changes.

1. Forming When you add a new team member, everyone is excited and hopeful about the future. They may also be apprehensive, especially if the person is joining an existing team. The forming stage is about realigning tasks and job descriptions to fit the strengths and the weaknesses of your current team members.

This is the reason that it is so important to use a behavioral assessment such as the DISC, as well as Tom Rath’s StrengthsFinder. Each of these tools allows everyone on the team to see what each team member does well and what needs to be handled by other team members. It also helps the team leader to identify the skills needed for the next hire.

 

– See more at: http://www.inman.com/2014/04/28/building-and-retaining-a-successful-real-estate-team-identify-strengths-procedures-and-your-big-why/?utm_source=20140428&utm_medium=email&utm_campaign=dailyheadlinesam#sthash.ssbrtzd7.dpuf

Spring clean your way to being fit | Pound Ridge Real Estate

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Skip the gym and bust out the broom: These household activities torch up to 200 calories in just 30 minutes—nearly double the amount you’d burn pumping iron in the gym. Keep the routine up on a weekly basis and you’re bound to banish both extra clutter and inches. Read on to find out which projects will put a dent in your to-do list and prep your body for spring’s skin-baring clothing.

 

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http://healthyliving.msn.com/fitness/spring-clean-your-way-to-fit