Tag Archives: Armonk NY Homes for Sale

Armonk NY Homes for Sale

Teacher Charged In Threat To Greenwich Middle School | Armonk NY Real Estate

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Greenwich middle school teacher Stacey Goodnow, 46, was accused of leaving a voice mail message to another teacher that she would “shoot up” her school because she was upset over a personnel situation, according to Norwalk police.

Goodnow, who lives on Melrose Avenue in Norwalk and is a sixth-grade teacher at Western Middle School in Greenwich, was arrested Friday and charged with misdemeanor disorderly conduct and was initially held on $100,000 bond.

According to Norwalk Police Lt. Thomas Mattera, Goodnow’s bond was lowered at Norwalk Superior Court on Monday to $5,000. She posted bond and was released.

Police said Goodnow left the voice mail earlier in the month, which prompted a report to Greenwich police. The Greenwich Police Department contacted the Norwalk Police Department because the call was placed from the suspect’s home, according to Mattera. The lieutenant declined to elaborate, but Goodnow is believed to have made more than one threatening call.

“Her alleged statements were annoying and alarming on several levels,” said Mattera.

The court put conditions on her release, such as staying away from the school district and school personnel.

 

Teacher Charged In Threat To Greenwich Middle School | The Greenwich Daily Voice.

Aspen brokers fighting over $80M in listings | Armonk Real Estate

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A prominent Aspen, Colo.-based real estate broker is suing his former brokerage, saying he was recruited six years ago with a promise that he’d be made a partner in the firm that was never fulfilled, the Aspen Daily News reports.

Gary Feldman, who’s worked in the Aspen market since 1985, is now attempting to transfer clients and $80 million in current listings from Joshua and Co., which fired him, to another brokerage, BJ Adams and Co. Inc., where he now works. Source: aspendailynews.com.

– See more at: http://www.inman.com/wire/aspen-brokers-fighting-over-80m-in-listings/#sthash.MBsuIazE.dpuf

 

Aspen brokers fighting over $80M in listings | Inman News.

Schiliro To Run For North Castle Town Supervisor | Armonk NY Homes

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ARMONK, N.Y. – The North Castle Democratic Committee endorsed Michael Schiliro for Town Supervisor for the upcoming November election in this week’s top news.

In other top news this week:

 

Schiliro To Run For North Castle Town Supervisor Tops This Week’s News | The Armonk Daily Voice.

Corporate Buyers Boosting Prices in New Housing Boom | Armonk Real Estate

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Double-digit home-price gains from San Francisco to Detroit to Miami have some aspiring home buyers racing back into the market.

But buyers, beware.

The housing market may not be as strong as you think.

Sure it’s tempting to want to lock in a low interest rate and take advantage of lower home prices before they rise further.

But it may make sense to take a breather before you buy a home and wait for prices to drop, as institutional investors might be inflating home prices.

Namely, Wall Street investors are scooping up homes in bulk, and there’s considerable concern this is inflating prices in certain areas of the country—and pricing individuals out of the market in general.

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Wesley Bedrosian

These institutional investors have been spending billions of dollars buying up single-family homes en masse. In 2012, institutional buyers purchased about 138,540 of both distressed and non-distressed homes in the U.S., or about 3% of all sales, according to RealtyTrac. It estimates institutional buyers purchased 32,355 homes in the U.S. in the first quarter of this year, or about 3.5% of home sales.

That may sound like a small amount of purchases, but in certain markets institutional investors are taking a larger stake. For example, institutional buyers accounted for 5% and 8% of sales in Arizona and Nevada, respectively, so far this year.

And some of the hottest markets for big corporate buyers from 2010-2012 are seeing some of the biggest price jumps this year—Phoenix, Las Vegas, the San Franciso Bay Area, portions of Florida and elsewhere.

There are concerns we may be headed for another bubble in areas where housing-price gains may not be sustainable, especially if unemployment remains high, interest rates start rising, selling prices peak and investors quickly unload their holdings in bulk, depressing home prices.

“I’d discourage a client from buying in an area with a lot of institutional action in that there might be some uncertainty as to the institutions’ plans with the property,” says Brian Frederick, a financial planner in Scottsdale, Ariz.

Add in a small supply of homes for sale—thanks in part to regulations that limit the pace of foreclosure sales and underwater sellers who owe more on their mortgages than their houses are worth and are holding out for even better prices—along with pent-up demand from people who have been waiting to move until they’ve felt more economically secure and tight lending standards—and you’ve got the makings of some frustrated, and maybe over-eager, would-be buyers.

 

Corporate Buyers Boosting Prices in New Housing Boom – WSJ.com.

dotloop reinvents user experience, launches mobile iOS app | Armonk Realtor

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Real estate software company dotloop released a revamped version of its innovative real estate platform while simultaneously launching a full-featured mobile iOS app this week.

The re-tweaked and re-launched dotloop is designed to improve users connections with other professionals in the space while also linking them to every document and task needed to finalize a real estate transaction. The Cincinnati-based company unveiled the revamped platform at HousingWire’s Real Estate Expo (REX) Monday.

“The new dotloop represents an entirely new way of working that puts people first, not technology — what we call ‘peoplework,'” said Austin Allison, CEO of dotloop. “It’s not about features or functions, but rather people working better together. That’s the essence of successful businesses today, in real estate and nearly every other industry. And it’s why we completely redesigned dotloop to make it easier, faster and more enjoyable to do business with others.”

So who’s empowered in the dotloop network? Everyone. The platform allows clients, lenders, housing inspectors and other real estate professionals to work together at a rapid pace using the network’s various interfaces and workflows.

The platform provides direct access to essential real estate documents. Not to mention, a series of sequenced steps are integrated into the system to help users complete a transaction, taking them all the way from the disclosure process to the end of the deal.

All documents listed in the loop are private until shared with other parties. By using permission controls, users can easily modify their preferences.

The Mobile iOS app is another addition for users on the go, giving them a chance to log on remotely from any location.

“The new dotloop is an incredibly powerful platform that consolidates everything needed to get deals done more efficiently, while delivering a great experience that my agents and, more importantly, their clients love,” said David Jones, president and COO of Coldwell Banker Howard Perry and Walston.

“As a broker, I now have deeper visibility into every deal being conducted at the offices, and my agents have the tools they need to get the entire deal done, not individual pieces of the real estate puzzle. The new dotloop is a huge step forward for our brokerage, allowing everyone to focus on our No. 1 priority: our clients.”

dotloop launched in 2009 and has since grown to a user-base of 600,000 real estate professionals.

Users tap into the company’s cloud-based platform to get deals done faster while delivering a quality experience to tech-savvy consumers.

 

dotloop reinvents user experience, launches mobile iOS app | HousingWire.

Foreclosure Sales Fall 22% In Q1 | Armonk NY Real Estate

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foreclosure

Foreclosure and bank owned sales fell 18% in the first quarter to 190,121, according to RealtyTrac’s latest report.  This is down 22% from Q1 2012.

Foreclosure and short sales accounted for 21% of all residential sales in Q1, down form 25% in Q1 2012, and a peak of 45% in Q1 2009.

Meanwhile, non-foreclosure short sales were down 10% from Q4 2012, and down 35% from Q1 2012.

Including non-foreclosure short sales, the share of distressed sales came to 36%.

The decline in foreclosure related sales is in large part because of  a decline in foreclosure activity. But the decline in non-foreclosure short sales was “surprising” according to RaltyTrac vice president Daren Blomquist, given that 11 million homeowners are in negative equity.

“Rising home prices in many markets are stunting the continued growth of short sales by reducing incentive for both underwater homeowners and lenders.

“Underwater homeowners may be willing to stick it out a few more months or even years in the hope that they will be able to walk away with money at the closing table and without a hit to their credit rating, and for lenders a failed short sale may no longer translate into bigger losses down the road given that average prices of bank-owned homes are rising — at a faster pace than non-distressed home prices in many markets.”

Here are some details from the report:

  • The average price of a foreclosure related sale declined 1% quarter-over-quarter in Q1 to $167,095.
  • At 35% Georgia had the biggest percentage of foreclosure related sales. Meanwhile, in Massachusetts, New York, and New Jersey foreclosure-related sales account for less than 10% of sales.
  • The average price of a foreclosed home was 30% below the average price of a non-foreclosure property.

Here’s a look at foreclosure sales against average foreclosure sale price:

foreclosure sale and price chart

 

Foreclosure Sales Fall 22% In Q1 – Business Insider.

Case-Shiller Double Digits the Critics | Armonk Real Estate

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Just as the volume of concern that the recovery would be short-lived was growing, Case-Shiller reported double digit price increases in all three of its composites, which posted their highest returns in seven years

Prices increased in the 10-City and 20-City Composites by 10.3 percent and 10.9 percent in the year to March with the national composite rising by 10.2 percent. All 20 cities posted positive year-over-year growth.

In the first quarter of 2013, the national composite rose by 1.2 percent. On a monthly basis, the 10- and 20-City Composites both posted increases of 1.4 percent. As of March 2013, average home prices across the United States are back to their late 2003 levels for both the 10-City and 20- City Composites.

Measured from their June/July 2006 peaks, the peak-to-current decline for both Composites is approximately 28-29 percent. The recovery from the March 2012 lows is 10.3 percent and 10.9 percent for the 10- and 20-City Composites, respectively.

“Home prices continued to climb,” says David M. Blitzer, Chairman of the Index Committee at S&P Dow

Jones Indices. “Home prices in all 20 cities posted annual gains for the third month in a row. Twelve of the 20 saw prices rise at double-digit annual growth. The National Index and the 10- and 20-City Composites posted their highest annual returns since 2006.

“Phoenix again had the largest annual increase at 22.5 percent followed by San Francisco with 22.2 percent and Las Vegas with 20.6 percent. Miami and Tampa, the eastern end of the Sunbelt, were softer with annual gains of 10.7 percent and 11.8 percent. The weakest annual price gains were seen in New York (+2.6 percent), Cleveland (+4.8 percent) and Boston (+6.7 percent); even these numbers are quite substantial.

“Other housing market data reported in recent weeks confirm these strong trends: housing starts and permits, sales of new home and existing homes continue to trend higher. At the same time, the larger than usual share of multi-family housing, a large number of homes still in some stage of foreclosure and buying-to-rent by investors suggest that the housing recovery is not complete.”

As of March 2013, average home prices across the United States are back to their late 2003 levels for both the 10-City and 20- City Composites. Measured from their June/July 2006 peaks, the peak-to-current decline for both Composites is approximately 28-29 percent. The recovery from the March 2012 lows is 10.3 percent and 10.9 percent for the 10- and 20-City Composites, respectively.

The number of cities that showed monthly gains increased to 15. Denver, Charlotte, Seattle and Washington entered positive territory; Seattle and Charlotte were the most notable with returns of +3.0 percent and +2.4 percent. San Francisco posted the highest month-over-month return of 3.9 percent.

All 20 cities showed increases on an annual basis for at least three consecutive months. Atlanta, Detroit, Las Vegas, Los Angeles, Miami, Minneapolis, Phoenix, Portland, San Diego, San Francisco, Seattle and Tampa all posted double-digit annual returns. Las Vegas, Phoenix and San Francisco were the three MSAs to increase over 20 percent in March 2013 over March 2012.

 

Case-Shiller Double Digits the Critics | RealEstateEconomyWatch.com.

Home price rise sets seven-year record in March: S&P | Armonk Real Estate

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U.S. single-family home prices rose in March, racking up their best annual gain in nearly seven years in a further sign that the strengthening housing recovery is providing a source of support for the economy, a closely watched survey showed on Tuesday.

The S&P/Case Shiller composite index of 20 metropolitan areas gained 1.1 percent in March on a seasonally adjusted basis, topping economists’ forecasts for a 1 percent rise.

Prices in the 20 cities jumped 10.9 percent year over year, beating expectations for 10.2 percent. This was the biggest increase since April 2006, just before prices peaked in the summer of that year.

All 20 cities covered by the index saw yearly gains for the third month in a row. Average prices in March were back at their late-2003 levels.

Prices in Phoenix continued their sharp ascent, rising 22.5 percent from a year earlier. Other standouts included San Francisco, up 22.2 percent, and hard-hit Las Vegas, up 20.6 percent.

The housing market turned a corner in 2012, several years after its far-reaching collapse. The recovery has picked up since as inventory tightened, foreclosures eased and historically low mortgage rates have attracted buyers.

For the first quarter of this year, the seasonally adjusted national index rose 3.9 percent, stronger than the 2.4 percent gain of the final quarter of last year.

 

The data provoked little reaction in financial markets. Wall Street was poised to open higher as comments from central banks around the world reassured investors that supportive monetary policies would remain in place.

 

 

Home price rise sets seven-year record in March: S&P | Reuters.

Banks Seen Holding REOs for Higher Prices | Armonk Real Estate

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Real estate agents report banks are keeping foreclosures off the market in hopes of higher prices, a practice that is temporarily reducing the percentage of distress sales but lengthening the foreclosure timeline.

The share of distressed properties in the housing market fell to a three-and-a-half-year low in April, falling to 33.0 percent in April, based on a three-month moving average. That was not only down from 35.6 percent in March, but also a very sharp drop from the 43.6 percent distressed property market share seen a year ago, according to the latest Campbell/Inside Mortgage Finance HousingPulse Tracking

However, there also are reports from real estate professionals participating in the survey that many banks are holding back their sale of foreclosed properties until home prices climb further. As a result, there is the potential for a spike in distressed property sales in the coming months.

In the past year, charges that lenders have sought to manipulate REO process have increased as foreclosure inventories have declined.

In EForeclosure Magazine last April, Wells Fargo senior economist and vice president Scott Anderson explained that withholding a number of foreclosure properties for sale from the real estate market is a deliberate effort on the part of lenders to abate the drastic decline in home prices.

Results from a study of the foreclosures market showed that only one third of repo homes are being marketed for sale. Anderson added that if banks will release all foreclosure properties on their portfolios for sale, property values will surely take another steep plunge.

Anderson pointed out that withholding foreclosure properties from the market could greatly impact the balance sheets of lenders and for any individual who will try to sell a home or seek mortgage refinancing.

In studies for AOL Real Estate last year, RealtyTrac found that just 15 percent of REOs in the Washington, D.C., area were for sale, a statistic that is representative of nationwide numbers, the company said.  CoreLogic provided an even lower estimate, suggesting that just 10 percent of all REOs in the country are listed by their owners, which include Fannie Mae and Freddie Mac as well as the Federal Housing Administration. As of April 2012, 390,000 repossessed homes sat in limbo, while about 39,000 were actually listed for sale, said Sam Khater, senior economist at CoreLogic.

The drop in distressed property activity in April was accompanied by a parallel dip in the percentage of purchases attributable to investors, the latest HousingPulse numbers show. Investors accounted for 21.6 percent of home purchase transactions tracked last month based on a three-month moving average. That was the lowest investor share recorded since November.

Foreclosed properties in need of repair – or so-called damaged REO – remain the largest category of purchases by investors. Typically, investors buy these properties, fix them up, and then turn them into rental housing.

Last month investors accounted for 62.8 percent of damaged REO purchases, HousingPulse numbers show. This compared to a 63.9 percent share in March and a 60.4 percent share a year earlier.

 

Banks Seen Holding REOs for Higher Prices | RealEstateEconomyWatch.com.

Luxury Prices Lag Lower Price Tiers | Armonk NY Homes

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For nearly two months, through the heart of the spring buying season, the Institute for Luxury Home Marketing’s Market Action Index has stayed stuck at 29, one point below the official level designating a seller’s market.

Meanwhile lower priced homes have risen. The national median price on Realtor.com for all price tiers is up 2.63 percent in April over March and other listing-based market reports registered similar gains as slim inventories and a robust buying season combined to fuel the recovery. While the average price for ILHM’s market profile has risen to $1,266,086 through May 16, it’s only 1.6 percent above the ILHM average at the end of March.

Compared to lower price tiers, luxury demand is much weaker. Inventories in ILHM’s profile have increased 7.3 percent since the end of March, typical for this time of year and in line with monthly increases in the overall national inventory. However, time on market, which measures the balance between supply and demand, has been stuck on neutral like ILHM’s market index. The average days on market for luxury homes is 184 days, unchanged in six weeks. The median age of inventory on Realtor.com, however, was 81 days at the end of April, down 2.41 percent from March.

However, in the hottest markets in the nation, luxury sales have been doing as well as lower priced homes. In Denver, one of the best markets in the nation for all price tiers, luxury home sales skyrocketed in April, with sales of homes priced at $1 million or more rising almost 142 percent from April 2012, according to independent broker Gary Bauer. For luxury homes priced at $1 million or more, there were 87 single-family home sales in April, a 141.7 percent jump from the 36 in April 2012, according to the report based on Metrolist data.

Luxury home values increased in San Francisco, Los Angeles and San Diego in the first quarter of 2013 compared to a year ago, according to the First Republic Prestige Home Index by First Republic Bank. San Francisco Bay Area values jumped 8.7 percent from the first quarter of 2012 and 3.2 percent from the fourth quarter of 2012. The average luxury home in San Francisco is $2.82 million. Los Angeles area values rose 7.1 percent from the first quarter a year ago and 1.9 percent from the fourth quarter of 2012. The average luxury home in Los Angeles is $2.1 million.

 

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