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Armonk NY Homes

China’s penchant for property evokes US bubble mentality | Armonk NY Homes

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Amid the government’s effort to pass aggressive legislation designed to cool the housing market, China’s home prices soared to record heights in October, underscoring the persistent danger of a price bubble, Reuters reports.

China’s booming market is reminiscent of the U.S. bubble, since it is driven in large part the view that property is one of the soundest investments. The government has said it intends to pass legislation aimed at curbing a possible bubble as part of what Reuters called its “boldest set of economic and social reforms in nearly three decades.”

 

 

 

Source: Reuters

Dodgers Ex-Co-Owner Jamie McCourt Buys In Napa for $11.25M | Armonk Real Estate

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Jamie McCourt, former CEO and co-owner of the Dodgers with ex-husband Frank McCourt, spent $11.25 million on the sweeping Napa Valley estate at 40 Auberge Road. Situated on over 21 acres next to the Auberge du Soleil resort, the property boasts a 4 acre working vineyard that yields between 6.6 to 10 tons per year, a 3,500-square-foot 2-bedroom main house, an architecturally renowned 2-bedroom guest house, and a show-stopping lap pool.

The main house was designed by Scott Johnson of Johnson Fain Partners. It contains two bedrooms, an office, a gym, and views of both the valley and the property’s outdoor space, which was designed by Roger Warner and Jack Chandler. The guest house, designed by Stanley Saitowitz, won an AIA Award for design.

The property’s former owner was attorney Robert Lieff, founder of the law firm Lieff Cabraser Heimann & Bernstein. He reportedly purchased the land in 1998 for $805K, and built the house and guest house over the next three years. He used the vineyard to produce a highly-regarded private-label Cabernet Sauvignon. He listed the property in April 2012 for $17 million, and then reduced the price to just under $15 million.

McCourt’s broker in the purchase was Ginger Martin, who has the current record for closing the sale on the most expensive Sonoma County property on record ($35 million). Martin was at one point the broker for the seller of 40 Auberge Road, and it’s not clear if she represented both sides of this transaction. Regardless, McCourt got the property for well under the original asking price, and now plans to split her time between LA and Napa. · Former Dodgers CEO Pays $11.25 Million for Napa Vineyard Estate [WSJ] · A Glass House In Napa Wine Country [WSJ] · 40 Auberge Road [Ginger Martin & Co.]

BofA CEO: Housing market is fairly stable | Armonk NY Real Estate

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According to The Wall Street Journal, Bank of America (BAC) CEO Brian Moynihan said the U.S. housing market is fairly stable, as consumer spending stays solid and the shutdown fails to hinder progress.

Big banks have seen their mortgage banking income decline in recent quarters as refinancing activity fizzles. But Mr. Moynihan said that a decrease in refinancing activity is not indicative of the strength of the overall U.S. housing market. Instead, he said that home purchases, which have grown slightly since the beginning of the year, are what spurs broader economic growth.

He added that he believed the Federal Reserve would keep rates low until the economy starts to show greater signs of growth.

Moynihan also spoke about how the bank has spent more than $40 billion to date putting its legal troubles behind it. He wouldn’t say whether he thinks the government is unfairly “shaking down” big banks with penalties for crisis-era behavior.

                    Source: WSJ

Schiliro Leads Arden In North Castle Supervisor Race | Armonk NY Real Estate

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Councilman Michael Schiliro remains in the lead in the race for North Castle Supervisor as of 11:50 p.m.

Schiliro is leading Supervisor Howard Arden 56 percent to 44 percent with 90 percent of precincts reporting.

Republican Barbara DiGiacinto and Democrat Barry Reiter are pulling away in the race for town board, leading with 29 percent of the vote each. Incumbent Republican John Cronin trails with 22 percent of the vote and Democrat Jose Berra has 21 percent.

Arden, a Republican, was running for a second term as supervisor, is opposed by Schiliro, who has served three terms on the Town Board. Cronin was running for a second term on the board. Cronin campaigned with Diane Didonato-Roth, who was defeated in the Republican primary by DiGiancinto.

Berra and Reiter were running for the first time on the Democratic line.

 

 

http://armonk.dailyvoice.com/politics/schiliro-leads-arden-north-castle-supervisor-race

 

Homebuyers more likely to use real estate agents, even as Internet usage hits an all-time high | Armonk NY Homes

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Use of the Internet among consumers in the homebuying process continues to grow, but those buyers are more, not less, likely to use a real estate agent, according to an annual survey from the National Association of Realtors.

NAR’s 2013 Profile of Home Buyers and Sellers includes survey responses from 8,767 people who purchased a home between July 2012 and June 2013. The seller information in the report is from those buyers who also sold a home.

For those who purchased a home during that time period, the highest share ever – 92 percent — used the Internet to search for a home, up from 90 percent in last year’s survey and 71 percent in 2003.

use_of_internet_home_search_NAR_2013

Source: National Association of Realtors.

Just over 4 in 10 buyers (42 percent) started the homebuying process by looking for properties online (up from 35 percent in 2011) followed distantly by those whose first step was to contact a real estate agent (17 percent). Online websites and agents tied as the most common information sources homebuyers used in their search with 89 percent using each. Yard signs followed at 51 percent.

 

 

– See more at: http://www.inman.com/2013/11/04/homebuyers-more-likely-to-use-real-estate-agents-even-as-internet-usage-hits-an-all-time-high/#sthash.Me4tRDgv.dpuf

Armonk Sales up 39% | Median price up 18% | Armonk NY Real Estate

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Armonk   NY Real Estate ReportRobReportBlog
20136 months ending 11/42012
74Sales53up 39%
$1,040,000.00median sold price$875,000.00up 18%
$255,000.00low sold price$150,000.00
$2,895,000.00high sold price$9,300,000.00
3857average size3515
$309.00ave. price per foot$352.00down 12%
179ave days on market187
$1,179,609.00average sold price$1,297,501.00

1 in 6 markets back to normal, with smaller metros leading the way | Amonk Real Estate

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Smaller metros are leading the way in the housing recovery, accounting for 43 of the top 50 markets on an index compiled by the National Association of Home Builders and First American Title Insurance Co.

The NAHB/First American Leading Markets Index (LMI) shows housing markets in 52 out of 350 metro areas have now returned to or exceed their prerecessionary levels of activity.

The LMI uses employment growth data from the Bureau of Labor Statistics, home price appreciation data from Freddie Mac, and single-family housing permit growth from the U.S. Census Bureau.

 

Source: nahb.org –

 

See more at: http://www.inman.com/wire/one-in-six-markets-back-to-normal-with-smaller-metros-leading-the-way/#sthash.td97cv0z.dpuf

The 13 Most Haunted Buildings in New York City | Armonk NY Homes

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halloweenmap_10_13.jpg

New York has been called the most haunted city in the world, and with good reason. Every single street is steeped in history, and in the four-hundred-plus years of cycles of expansion, construction, destruction, and rejuvenation, you’re bound to hear more than a few legends and tales of the otherwordly. So, in the spirit of Halloween, we’re proud to present this map of the most haunted buildings in town, from the southernmost tip of Staten Island, all the way up to the hills of Washington Heights. We’ve got ethereal authors, pesky poltergeists, creepy colonials, phantom flappers, and even a mysterious mayor or two. And hey, if a skeptic you remain, a lot of these locales are open to the public, so by all means, check them out yourself if you think you ain’t afraid of no ghost. You might just learn something too!

Special thanks to The Bowery Boys and Forgotten NY.