Tag Archives: Armonk Homes for Sale

Armonk Homes for Sale

Rates are low, prices stable — why is no one buying? | Armonk Real Estate

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Motley Fool has a piece up from the weekend that caught HousingWire’s eye: “2 Simple Charts Prove That Now Is An Exceptional Time to Buy a Home.”

It caught our eye because it sounds like the kind of story we publish from time to time – our own story from just a month ago along these lines looks at the convergence of low mortgage rates and home prices with a slightly different twist. The Motley Fool writer starts strong enough:

If you’re wondering whether this summer is a smart time to buy a home, then let me cut to the chase. Thanks to still-historically low mortgage rates, housing may never again be as affordable as it is right now.

At present, the interest rate on a 30-year fixed rate mortgage is 4.19%. That’s the cheapest they’ve been all year, and they even recently dipped below half the long-run average of 8.52%.

Click below to see the chart.

Mortgage rates and home prices are two of the big drivers of home sales, after all. Motley Fool looks at these in terms of rates (ridiculously low) and home price affordability, which as measured by the National Association of Realtors, is “the degree to which a typical family can afford the monthly mortgage payments on a typical home.”

Click below to see the chart.

And by that NAR measure alone, homes are more affordable – but that’s just too broad a measure. It’s an empty measure, like the 77 cents on the dollar argument, that doesn’t fairly reflect reality.

But for the sake of argument, let’s say the NAR affordability index isn’t flawed.

Rates are low. According to Freddie Mac’s latest Primary Mortgage Market Survey, although rates edged slightly higher for the week ended June 12, they are still low for the year. The 30-year, fixed rate mortgage averaged 4.20%, up from 4.14% last week and 3.98% a year ago.

 

 

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http://www.housingwire.com/blogs/1-rewired/post/30331-rates-are-low-prices-stable-why-is-no-one-buying

Create a Secret Doorway Behind a Bookcase | Armonk Real Estate

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Everyone’s got something to hide. Cash, documents, jewels, guns, clutter — these are things that earn our extra consideration for being stashed away securely. And no, under your mattress or at the bottom of your sock drawer isn’t going to cut it.

Enter the hidden doorway behind the bookcase. This cool concept keeps your belongings safely tucked away out of sight. Plus, it’s fun. Here’s how to add one.

traditional hall by Roberts Wygal
Roberts Wygal
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Project: Creating a hidden doorway.

Things to consider: First you’ve got to decide where your secret doorway will be. Obviously, it’s going to be much easier to turn an existing doorway into a hidden one. Hallway closets, laundry rooms, mechanical rooms and home offices are great candidates.

Otherwise, if you choose to cut into an existing wall space, you’ll likely want to hire a professional to help determine if your chosen spot is doable or not. If you have to reroute electrical wiring, plumbing or HVAC ducts, this project can quickly get expensive.

You’ll then want to measure your doorway — 32 inches and 36 inches are the most common widths — and think about how you’ll want to conceal the opening. Bookcases are by far the most popular choice. They do a great job of distracting people from thinking there’s a doorway behind them, and are functional because you can store books and display items on them.

traditional by Wende Woodworking LLC
Wende Woodworking LLC
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For this project Thad Wende of Wende Woodworking created a custom swivel bookcase that conceals a storage area in which the homeowners keep private personal belongings. To support the weight of books and other accessories on the shelves, most pivoting bookcases sit on a couple of swivel casters that allow the case to roll easily in and out. That’s why carpeted floors aren’t recommended for this style of bookcase.

Wende recommends considering how your bookcase unit and frame will match up with nearby trimwork or other cabinets. “If you can paint it onsite while you’re installing other cabinetry, or at least get a good match to surrounding pieces, that’s best,” he says. “Otherwise it will give itself away.”

He says it would cost about $1,500 to $1,750, parts and labor, for a piece similar to the one shown here.

modern kids by Siol
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For the 2010 San Francisco Decorator Showcase home, designer Jessica Weigley used this shallow display case to conceal a closet that she turned into a kids’ play nook.
modern kids by Siol
Siol
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She designed curved plywood ramps — similar to ones made for skateboarding — and covered them in carpet for a cool effect. She guesses a similar design could be done for around $2,000, including parts and labor, and would probably take a weekend to complete.

“Everyone loves that element of surprise,” Weigley says. “When you walk into a room and everything’s understood — there’s the bed, there’s the dresser — it can be boring. Whereas when you create a space that gets revealed or explored, it creates something in people — a sense of wonder that captures their interests.”
asian home office by InHouse Design Studio
InHouse Design Studio
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This completely custom bookcase door in a home office leads to a guest bedroom. “The homeowner has a wonderful childlike quality to him,” says Mark Dutka, the general contractor on the project. “He just said, ‘I don’t care what you do. I just want a hidden door.’”

He says it takes a skilled team to create a unit that’s flush with the frame as well as the floor. Otherwise your door-hiding bookcase will stand out like a sore thumb. This project was a three-person job. A designer spearheaded the aesthetic direction and had the technical expertise to assess the wall structure. Dutka made sure it was possible to build it accurately. And a cabinetmaker built the actual unit.

home gym by CS Hardware
CS Hardware
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Many companies now make prefabricated units that can be assembled in about an hour by the average homeowner. “If you’ve put together Ikea furniture, you can do this,” says Tim Stepanski, the marketing manager for CS Hardware, which sells prefabricated and semicustom units like the one seen here.
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http://www.houzz.com/ideabooks/28061441?utm_source=Houzz&utm_campaign=u536&utm_medium=email&utm_content=gallery0

Kensico Burger And Beer Festival To Feature 30 Local Restaurants | Armonk Real Estate

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Let out your inner child, foodie, shopaholic and nature lover out at these exciting upcoming events in Westchester County.

1. Westchester’s Burger and Beer Blast at Kensico Dam Plaza in Valhalla on Friday, June 6 from 6 p.m. to 10 p.m.

Described as “the ultimate block party,” this part of Westchester Magazine’s Food and Wine week may be the tastiest. Thirty lauded burger restaurants from across the county will strut their stuff, serving signature dishes along with beer pairings. When you’re done noshing, vote on the best burger and catch a live performance by Mary C and the Stellars. $65. 21 and older. Rain or shine.

2. Pelham’s Annual Street Fair on Saturday, June 7 from 10 a.m. to 5 p.m.

Hosted by the Chamber of Commerce, the free fair has attracted thousands of people from around the area in previous years. The event sports several fun activities for children and adults alike to benefit a variety of local businesses and philanthropies. Free. Rain or shine. Fifth Avenue between First and Lincoln Avenues.

3. Family Bird Walk in Mamaroneck’s Harbor Island Park on Saturday, June 7 at 10:15 a.m.

Led by Phil Horner, longtime resident and member of the Mamaroneck village committee for the environment, enjoy a walk through scenic harbor island park and learn about some of your local feathered friends. Free, but make sure to bring your own binoculars. Meet at the Marine Education Center.

4. Yonkers’ LEGOLAND Discovery Center Westchester Brick Factor on Saturday and Sunday, June 7-8, at 10 a.m.

“Brick Factor” is a two day search in which contestants will compete in creative LEGO building challenges for a chance to win their dream job as a Master Model Builder. 39 Fitzgerald Street.

 

 

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http://bedford.dailyvoice.com/events/kensico-burger-and-beer-festival-feature-30-local-restaurants

World’s most expensive billionaire homes | Armonk Real Estate

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Owner: Bill Gates, net worth $77.5 billion

Market value: $120.5 million, 2014 tax assessment

The high-tech Lake Washington complex owned by the world’s second-richest man boasts a pool with an underwater music system, a 2,500-square-foot gym and a library with a domed reading room.

 

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http://realestate.msn.com/worlds-most-expensive-billionaire-homes#2

Metro Atlanta home prices jumped 18% at end of ‘13 | Armonk Real Estate

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Metro Atlanta’s housing market continued to rebound at the end of 2013, posting double-digit growth, according to the CoreLogic Case-Shiller Indexes.

The area’s house prices jumped 17.8 percent in the fourth quarter of 2013, compared with the fourth quarter of 2012. CoreLogic also predicts metro Atlanta’s home prices will increase 2.9 percent in the fourth quarter of 2014.

National home prices rose 11.3 percent in the fourth quarter, compared with the fourth quarter of 2012. Home prices nationwide were 20 percent above the trough reached in the fourth quarter of 2011, but remained 21 percent below the peak reached in the first quarter of 2006.

 

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http://www.bizjournals.com/atlanta/news/2014/05/13/metro-atlanta-home-prices-jumped-18-at-end-of-13.html

Take a Virtual Stroll Through Tokyo’s Bamboo Basket Bakery | Armonk NY Homes

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Screen%20Shot%202014-05-08%20at%203.36.16%20PM.pngPhoto via Arch Daily

Built by pile o’ sticks guru Kengo Kuma—whose quirky, previous projects include high-design Starbucks locales and timber-lined dog huts—this bamboo basket-shaped bakery in Tokyo just might be the oddest, most flammable purveyor of sweets in all the land. Constructed using Kuma’s signature Japanese joint technique of “Jiigoku-Gumi,” the design team explains that the SunnyHills pineapple cake shop uses its interior and exterior wooden latticework to differentiate itself from its surroundings by appearing “completely different from a concrete box.” Inside, the space feels open and sunny, thanks to the filtered daylight streaming through the slatted walls. French architect and filmmaker Vincent Hecht has a video tour of the standout little building, below:

 

 

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http://curbed.com/archives/2014/05/08/take-a-virtual-stroll-through-tokyos-bamboo-basket-bakery.php

Transunion: Mortgage delinquency rate falls to mid-2008 low | Armonk NY Homes

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The mortgage delinquency rate for those more than 60 days late declined for the ninth consecutive quarter to 3.61% at the end of Q1 2014, according to TransUnion’s latest mortgage report.

The mortgage delinquency rate has declined more than 24% in the last year, down from 4.76% in Q1 2013, and it is now at the exact same level as it stood in Q2 2008.

“It’s encouraging to see mortgage delinquencies drop once again, especially during a period when mortgage originations slowed considerably,” said Steve Chaouki, head of financial services for TransUnion. “This trend in improved performance is driven in part by lenders working their way through the foreclosure backlog, along with continued conservatism in underwriting new mortgages.”

All 50 states and the District of Columbia experienced declines in their mortgage delinquency rates between Q1 2013 and Q1 2014.

The largest percentage declines continued to occur in states most impacted by the mortgage crisis – Arizona (down 37.8%), California (down 36.9%) and Nevada (down 34.0%). Both Arizona (2.81%) and California (2.80%), which just five years earlier had delinquency rates nearly double the national average, are now significantly lower than the rest of the nation.

 

 

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http://www.housingwire.com/articles/29923-transunion-mortgage-delinquency-rate-falls-to-mid-2008-low

 

Lending standards aren’t getting looser | Armonk Real Estate

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Lending standards aren’t getting looser; the market is changing.

That’s the findings from a study by the Urban Institute.

Study authors Jun Zhu, Laurie Goodman and Bing Bai say that market composition change explains the decrease in average credit scores for conventional and Federal Housing Administration mortgages.

Despite rising home prices, the mortgage lending rules have remained tight, inhibiting housing demand and economic growth, they say.

The price of FHA mortgages compared to agency loans with private mortgage insurance have driven would-be FHA borrowers to the GSEs, according to the report.

“Our analysis shows credit scores on conventional mortgages sold to government-sponsored enterprises like Fannie Mae and Freddie Mac averaged 752, down from 758 a year earlier. Credit scores on purchase loans backed by FHA declined even more, averaging 686, a 11-point drop down from 697,” the study says. “But pooling the loans together reveals that credit scores actually remained the same. The average credit score of all purchase loans stayed around 730 during the one-year period—no actual credit easing.”

 

 

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http://www.housingwire.com/articles/29884-urban-institute-lending-standards-arent-getting-looser

Let customer feedback shape the evolution of your product and it will sell itself | Armonk Homes

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A lot of companies are started out of frustration, trying to solve a problem that their founders don’t see an available solution for, says Onvedeo founder and CEO Boubou Guiro.

Guiro says that was certainly the case for him. As a would-be homebuyer, the time he squandered visiting properties that weren’t always as they were depicted online convinced him that the solution was a video marketing platformm scalable so that it was affordable enough for every broker and agent to employ on all their listings.

Now he’s passing along the insight he’s gained building the company. He advises his fellow entrepreneurs to keep testing their product, and evolving it based on customer feedback.

“I truly believe the product is going to be the best marketing and the best sales tool you’re going to get,” he says. “If people love your product, you don’t really need to do much after that, besides just making them aware of it.”

 

 

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http://www.inman.com/2014/05/02/let-customer-feedback-shape-the-evolution-of-your-product-and-it-will-sell-itself/?utm_source=20140502&utm_medium=email&utm_campaign=dailyheadlinesam

Sacramento home sales still hot, but not burning | Armonk Homes

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As a region, Sacramento still ranks in the top 10 in the nation for turning over home inventory, but as other metrics have also shown, sales are quite a bit slower than a year ago.

According to rankings compiled by Trulia, 45 percent of all homes for sale in the region have been on the market for two months or more, good enough for ninth nationally. The figure was 41 percent a year earlier, when Trulia noted both investor buys and rapid price appreciation fueled by bidding wars were much more common, making the market that much more active.

The slight cool down, only 4 percent below a year earlier, reflects mostly more inventory on the market, which is still a sellers’ market overall, according to Trulia.

By comparison, in Virginia Beach, Va., 72 percent of homes on sale now were also on the market two months ago.

Of the overall list, every city above Sacramento was on the West Coast and almost all on or near the Pacific Ocean, with Denver, at fourth, the only exception.

In Oakland, which topped the list, 29 percent of the homes on the market had been there two months or longer, and asking prices were 22.7 percent higher than a year earlier. Sacramento asking prices have risen by 22.2 percent, according to Trulia figures.

 

 

 

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http://www.bizjournals.com/sacramento/news/2014/04/28/sacramento-home-sales-still-hot-but-not-burning.html