Tag Archives: Bedford Corners NY Homes
A Brief History Of YouTube | Bedford Corners Real Estate
For-Sale Inventory Continues to Fall, But Is Relief on the Way? | Bedford Corners NY Homes
The shortage of available homes for sale has become a major trend in advance of the busy spring home shopping season. New research from Zillow indicates that while this inventory crunch is very real, it also could be beginning to ease somewhat.
The overall number of homes listed for sale nationwide on Zillow was down 16.6 percent year-over-year in late February. Zillow looked at all homes available for sale on Zillow on Feb. 24, 2013, and compared it to the number of homes available on Feb. 24, 2012. The analysis covers homes nationally and in the 99 largest metro areas covered by Zillow, and across bottom, middle and top price tiers.
Nationwide, the greatest year-over-year decreases in inventory were among more expensive homes, with the availability of top-tier properties falling 20.5 percent year-over-year. That was followed by middle-tier homes (-17.2 percent year-over-year) and bottom-tier homes (-9.1 percent year-over-year). Only five metro areas showed more homes for sale overall last month than in February 2012: El Paso, TX (+18.5 percent); Albuquerque, NM (+8.1 percent); Little Rock, AR (+7.7 percent); Fort Myers, FL (+1.5 percent); and Youngstown, OH (+0.2 percent).
“The supply of for-sale listings continues to dry up, driven in part by potential sellers trapped in negative equity and homeowners who won’t sell out of fear they won’t be able to find a suitable home to buy later,” said Zillow Chief Economist Dr. Stan Humphries. “But the impact of constrained inventory will create the solution to the problem. Over the past year, inventory tightness has contributed to increases in home values in many markets. As home values rise, some homeowners will be freed from negative equity and able to list their homes, which will contribute to an easing of the inventory crunch. While this inventory is coming, it may still be a frustrating spring for buyers vying for what inventory is available. It’s important to be patient and not commit to paying beyond one’s comfort level in the heat of negotiations.”
Large California metros experienced the biggest decrease in homes for sale over the past year. Among the 30 largest metros covered by Zillow, four of the top five in inventory contraction are located in California: Sacramento (-48 percent); Los Angeles (-45.7 percent); San Francisco (-40.9 percent); and San Diego (-39.4 percent). Minneapolis-St. Paul (-36.7 percent) rounded out the top five.
But while the overall number of homes listed for sale in February was down significantly year-over-year almost across the board, the national drop was actually less severe than in January. In January, the number of for-sale listings was down 17.5 percent year-over-year, which could indicate an easing of the inventory crunch. Almost two-thirds (63) of the areas surveyed showed a smaller year-over-year decline in for-sale homes in February than in January.
As for-sale inventory shrinks, many potential buyers are turning to alternate means of finding their dream home. Over the past year, as the inventory crunch worsened, Zillow has observed a 132 percent increase in contacts to Make Me Move listings. Make Me Move is a tool current homeowners can use to tell others the price they may be willing to sell their home for, without actually putting it on the market — a “dream price” one might accept if it were offered. These listings have become one of the fastest growing listing types on Zillow, which include homes for rent, foreclosed homes, pre-foreclosure homes and homes for sale by owners or agents.
More information on our latest inventory research can be found on the Zillow Research Blog.
Year-over-year % Change In Homes For Sale Listed On Zillow, Feb. 24, 2013 vs. Feb. 24, 2012 Metro Area Bottom-Tier Homes Middle-Tier Homes Top-Tier Homes All Homes UNITED STATES -9.1% -17.2% -20.5% -16.6% New York -13.3% -23.2% -19.3% -18.9% Los Angeles -56.8% -42.4% -38.2% -45.7% Chicago -11.5% -15.2% -19.8% -16.2% Dallas-Fort Worth -9.8% -20.6% -24.6% -20.7% Philadelphia -8.2% -18.3% -25.2% -18.1% Houston -16.6% -26.5% -25.5% -23.7% Washington, DC -26.0% -21.4% -22.7% -23.3% Miami-Fort Lauderdale 18.1% 3.5% -20.9% -6.9% Atlanta -44.3% -33.9% -23.2% -32.1% Boston -19.1% -28.2% -24.4% -24.2% San Francisco -51.0% -40.0% -34.9% -40.9% Detroit -18.3% -23.0% -24.4% -21.9% Riverside, CA -38.2% -43.7% -29.6% -36.2% Phoenix -42.2% -22.5% -20.7% -26.4% Seattle -31.7% -13.2% -19.5% -21.2% Minneapolis-St Paul -44.6% -31.2% -34.7% -36.7% San Diego -43.0% -43.8% -32.1% -39.4% Tampa, FL -15.0% -21.6% -22.1% -20.1% St. Louis -7.0% -10.4% -19.9% -13.2% Baltimore -16.4% -18.1% -16.3% -16.9% Denver -27.0% -30.7% -35.6% -32.1% Pittsburgh -2.5% -5.4% -4.0% -4.0% Portland, OR -24.5% -15.1% -21.7% -20.5% Sacramento, CA -61.5% -53.2% -33.4% -48.0% Orlando, FL -28.6% -35.6% -21.5% -27.1% Cincinnati 6.2% 0.9% -7.0% -0.5% San Antonio -16.1% -21.3% -18.7% -18.7% Cleveland -4.6% -7.4% -18.0% -10.5% Kansas City -23.0% -32.4% -37.9% -32.4% Las Vegas -30.3% -34.2% -31.2% -32.1%
Staten Island Sandy victims can repair with eye on energy efficiency | Bedford Corners NY Homes
STATEN ISLAND, N.Y. – The state has partnered with a not-for-profit group to restore energy efficiency to eligible low-income Staten Island homes damaged by Hurricane Sandy.
While some homeowners have started – and in some cases finished – repairing their homes, many others are still living with severely damaged basements, eroded pipes and waterlogged walls.
Now, the New York State Energy Research and Development Authority’s (NYSERDA) EmPower New York program has enlisted the Community Environmental Center (CEC), a Queens nonprofit that brings energy efficiency to New York City residents, to assist with post-Sandy relief efforts for low-income homeowners in storm-battered areas in the city, including Staten Island.
“There are enormous needs in these communities, which Governor [Andrew] Cuomo is addressing through a number of efforts,” said Francis J. Murray Jr., president and CEO of NYSERDA. “EmPower NY is one way that NYSERDA can help.”
Through the initiative, CEC and EmPower NY will provide certain energy-efficiency services at no cost, including insulation, heating system upgrades, high-efficiency lighting, carbon monoxide testing, the replacement of inefficient refrigerators and freezers with high-efficiency models, and strategic air sealing to keep out the winter cold.
“This program can help people affected by the storm by providing insulation for their walls and roofs, energy-efficient refrigerators, and heating systems upgrades,” said Richard Cherry, CEC president. “We hope to bring additional comfort and energy efficiency, so these New Yorkers can continue to get on with their lives.”
To qualify for the program, homeowners must earn at or below 60 percent of the state median income, which is:
- $25,656 for households with one person;
- $33,552 for households with two people;
- $49,436 for households with four people.
EmPower doesn’t provide funding for repairs paid for by the Federal Emergency Management Agency (FEMA), insurance or other programs. But in cases where program reimbursements don’t cover the full cost of repairs or high-efficiency equipment, EmPower can pay the additional cost, provided the work is performed by a participating EmPower contractor.
Low-income home owners who wish to apply for EmPower NY assistance can call Community Environmental Center at 718-784-1444 or e-mail Carol Wiggins at cwiggins@cecenter.org.
Heavyweight Help: The Complete Guide to Getting Started on Pinterest | Bedford Corners Realtor
Boehner: No Reason To Block Keystone XL Pipeline | Bedford Corners Homes
WASHINGTON (AP) – A new State Department report is the latest evidence that the long-delayed Keystone XL oil pipeline from Canada should be approved, supporters say.
The draft report, issued Friday, finds there would be no significant environmental impact to most resources along the proposed route from western Canada to refineries in Texas. The report also said other options to get the oil from Canada to Gulf Coast refineries are worse for climate change.
The new report “again makes clear there is no reason for this critical pipeline to be blocked one more day,” said House Speaker John Boehner, R-Ohio. After four years of what he called “needless delays,” Boehner said it is time for President Barack Obama “to stand up for middle-class jobs and energy security and approve the Keystone pipeline.”
Environmentalists see the State Department report in a vastly different light.
They say it was inadequate and failed to account for climate risks posed by the pipeline. The report also is based on a false premise, opponents say — namely, that tar sands in western Canada will be developed for oil production regardless of whether the Keystone XL pipeline is approved.
“Americans are already suffering from the consequences of global warming, from more powerful storms like Hurricane Sandy to drought conditions currently devastating the Midwest and Southwest,” said Daniel Gatti of the group Environment America. Production of oil from Canadian tar sands could add as much as 240 billion metric tons of global warming pollution to the atmosphere, Gatti said, a potential catastrophe that would hasten the arrival of the worst effects of global warming.
Gatti and other opponents said development of the vast tar sands is far from certain, despite assurances by the project’s supporters.
“Tar sands can be stopped, and we are stopping it,” Gatti said, citing a rally in Washington last month attended by an estimated 35,000 people. Project opponents also have blocked construction in Texas and Oklahoma and have been arrested outside the White House gate.
The pipeline plan has become a flashpoint in the U.S. debate over climate change. Republicans and business and labor groups have urged the Obama administration to approve the project as a source of jobs and a step toward North American energy independence. Environmental groups have been pressuring the president to reject the pipeline, saying it would carry “dirty oil” that contributes to global warming. They also worry about a spill.
The State Department review stopped short of recommending approval of the project, but it gave the Obama administration political cover if it chooses to endorse the pipeline in the face of opposition from many Democrats and environmental groups. State Department approval of the 1,700-mile pipeline is needed because it crosses a U.S. border.
The lengthy report says Canadian tar sands are likely to be developed, regardless of whether the U.S. approves the Keystone XL pipeline, which would carry oil through Montana, South Dakota, Kansas, Nebraska and Oklahoma.
The report acknowledges that development of tar sands in Alberta would create greenhouse gases but makes clear that other methods of transporting the oil — including rail, trucks and barges — also pose a risk to the environment.
The State Department analysis for the first time evaluated two options using rail: shipping the oil on trains to existing pipelines or to oil tankers. The report shows that those other methods would release more greenhouse gases that contribute to global warming than the pipeline. The Keystone XL pipeline, according to the report, would release annually the same amount of global warming pollution as 626,000 passenger cars.
A scenario that would move the oil on trains to mostly existing pipelines would release 8 percent more greenhouse gases such as carbon dioxide than Keystone XL. That scenario would not require State Department approval because any new pipelines would not cross the U.S border.
Another alternative that relies mostly on rail to move the oil to the Canadian west coast, where it would be loaded onto oil tankers to the U.S. Gulf Coast, would result in 17 percent more greenhouse gas emissions, the report said.
In both alternatives, the oil would be shipped in rail cars as bitumen, a thick, tar-like substance, rather than as a liquid.
The State Department was required to conduct a new environmental analysis after the pipeline’s operator, Calgary-based TransCanada, changed the project’s route though Nebraska. The Obama administration blocked the project last year because of concerns that the original route would have jeopardized environmentally sensitive land in the Sand Hills region.
The administration later approved a southern section of the pipeline, from Cushing, Okla., to the Texas coast, as part of what Obama has called an “all of the above” energy policy that embraces a wide range of sources, from oil and gas to renewables such as wind and solar.
The draft report issued Friday begins a 45-day comment period, after which the State Department will issue a final environmental report before Secretary of State John Kerry makes a recommendation about whether the pipeline is in the national interest.
Kerry has promised a “fair and transparent” review of the plan and said he hopes to decide on the project in the “near term.” Most observers do not expect a decision until summer at the earliest.
Canadian Natural Resource Minister Joe Oliver said Friday that Canada will respect the U.S. review process and noted the importance of the pipeline to the Canadian economy.
Obama’s initial rejection of the pipeline last year went over badly in Canada, which relies on the United States for 97 percent of its energy exports.
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Associated Press writers Rob Gillies in Toronto and Dina Cappiello in Washington contributed to this report.
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Follow Matthew Daly on Twitter: https://twitter.com/MatthewDalyWDC
(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)
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Bedford Corners NY Weekly Real Estate Report | RobReportBlog
Bedford Corners NY Weekly Real Estate Report Homes for sale 26 Median Ask Price $2,147,000.00 Low Price $399,900.00 High Price $11,250,000.00 Average Size 5542 Average Price/foot $510.00 Average DOM 173 Average Ask Price $3,208,838.00
Government role in mortgage market | Bedford Corners Real Estate
Can the American mortgage market ever function again without Uncle Sam guaranteeing that lenders will be repaid?
“For the foreseeable future, there is simply not enough capacity on the balance sheets of U.S. banks to allow a reliance on depository institutions as the sole source of liquidity for the mortgage market,” stated a report on the American housing market this week, issued by a group that was filled with members of the housing establishment.
Distressed Sales Down | Bedford Corners Homes
New-Home Sales Gain Steam | Bedford Corners Homes
Sales of new single-family homes in January rose to its fastest pace since 2008, leading to more confirmation that the recovery in the new-home sector is charging forward.
New-home sales rose 15.6 percent in January to reach a seasonally adjusted annual rate of 437,000 units, HUD and the U.S. Census Bureau reports.
“The surge in demand for new homes this January is an excellent sign that the housing recovery is gaining steam and helping put more people back to work,” says Rick Judson, chairman of the National Association of Home Builders. “While we can’t expect to see double-digit sales growth every month, consumers are definitely coming off the fence as prices start to rise, and builders in some cases are having a tough time keeping up. Challenges related to credit availability, poor appraisals, dwindling lot supplies, spot shortages of skilled labor and rising materials costs are all weighing on the recovery process.”
Regionally, new-home sales increased the most in the West by 45.3 percent, followed by the Northeast with a 27.6 percent gain, an 11.1 percent increase in the Midwest, and a 3.2 percent increase in the South.
Meanwhile, inventories remain low. The months’ supply of new homes for sale dropped to the lowest level in nearly eight years.
“Today’s report shows a strong revival in new-home sales across all regions of the country and bodes well for the upcoming spring buying season,” says NAHB Chief Economist David Crowe. “That said, the razor-thin supply of new homes for sale is very concerning at a time when we are only about halfway back to what could be considered a ‘normal’ level of activity. Builders need to be able to refresh their inventories to keep the momentum going.”




