| Bedford Village NY Real Estate Report | RobReportBlog | ||
| 2013 | 6 months ending 7/5 | 2012 | |
| 40 | Sales | 34 | |
| $887,500.00 | median sold price | $910,250.00 | |
| $370,000.00 | low sold price | $450,000.00 | |
| $8,200,000.00 | high sold price | $4,750,000.00 | |
| 3419 | average size | 4133 | |
| $388.00 | ave. price per foot | $313.00 | |
| 189 | ave days on market | 217 | |
| $1,326,444.00 | average sold price | $1,355,990.00 | |
| 93.37% | ave sold to ask | 93.26% |
Bedford sales up 17% – Prices down 2.5% | RobReportBlog | Bedford Real Estate.
As anyone travelling the roads or eating in the restaurants of Beaufort County knows, the summer tourism season in the Lowcountry is off to a great start. According to the Hilton Head Island/Bluffton Chamber of Commerce, occupancy for vacation rental homes and villas is up strongly year to date on the island, outperforming national averages. The some 7,000 properties that rent short-term on Hilton Head are seeing the benefits of an improving national economy, rising consumer confidence and manageable gasoline and travel prices. You can learn about houses for sale in beaufort sc on this site.
Homeowners are getting on board and choosing to ride the wave of renovation momentum sweeping Hilton Head. They are improving their rental properties to keep pace with area hotels and resorts that are investing tens of millions of dollars of capital on upgrades. By doing so, these hotels, resorts and property owners are showing their bullishness about the future of Hilton Head travel and tourism (source: https://www.junglevistainn.com/).
Now is the perfect time to get in the game and purchase a vacation rental property and renovate it. Buyers that have recently purchased outdated properties are seeing almost immediate appreciation with renovations to the kitchens, bedrooms and bathrooms. This also helps owners gain a competitive advantage on rental revenues as today’s visitors are looking to rent these upgraded properties.
Your personal goals and objectives for purchasing a vacation rental property are the first things to consider. Make a list of your priorities, including your desired location, the ideal size, budget for purchase and for renovations, rental income expectations, how often you intend to use the property and whether you will retire there or eventually sell it. Be sure to choose a local Realtor who is experienced with vacation rental properties.
Next, be sure to consult your accountant and lawyer so that you fully understand the tax and insurance requirements, tax benefits, how to structure your mortgage loan, whether or not to set up an LLC and even if it might make sense for you to purchase a property out of your IRA. Getting these details worked out at the beginning of the vacation rental purchase process will make things much easier as you look for the perfect property.
Consult with a vacation rental expert early in the process. The expert can help with rental projections and great ideas for upgrades and renovations that will pay for themselves over time. Choose a professional rental management company that offers 24 hour reservation service and that can market your property effectively on the internet using social, local and mobile platforms. Your rental manager should employ housekeepers and maintenance technicians that are consistently assigned to your property for the best quality service.
Your management company should be partnered with local merchants and activities in order to give special discounts and deals exclusive to its’ owners and guests. Working with a local Realtor experienced with vacation rentals and employing a good rental manager can make vacation home ownership easy, allowing you and your family to enjoy the benefits for years to come.
Read more here: http://www.islandpacket.com/2013/07/07/2311903/reset-rental-marketing-strategy.html#storylink=cpy
Area vacation rental market fueled by renovations | Real Estate | The Island Packet.
Actress Linda Thompson is selling her Santa Monica home for $1.349 million. While she’s most-known for the men throughout her life — from music producer David Foster to Olympic decathlete Bruce Jenner and even “The King” himself, Elvis Presley — she bought this property beau-free.
The 1,845-square-foot condo has been held under a Thompson-family trust since 2010. Located north of Wilshire at 1043 11th St Unit 4, Santa Monica, CA 90403, it includes 3 bedrooms, 2.5 baths, a gym and 600-square-foot rooftop deck with 360-degree panoramic views.
According to listing agent Enzo Ricciardelli, members of the family have lived there over the past three years — likely a reference to Thompson’s sons, Brandon and Brody Jenner.
The three share an affinity for reality television — the boys stared in a short-lived series “The Princes of Malibu,” while Thompson has made appearances on “The Hills” and “The Real Housewives of Beverly Hills.”
Off screen, Thompson is also very connected with the “RHOBH” cast. After divorcing Foster in 2005, Thompon’s ex-husband went on to marry one of the show’s stars, Yolanda Hadid. Meanwhile, Thompson remains close friends with Taylor Armstrong.
Actress Linda Thompson’s Santa Monica Family Home for Sale | Zillow Blog.
A Valhalla man was arrested early Tuesday after Westchester County Police said they discovered a large cache of commercial-grade fireworks stacked floor-to-ceiling in his basement on Saldi Lane.
Police evacuated the area around the home Tuesday and closed the streets to traffic until the explosive material was removed.
Stephen Surace, 53, has been charged with third-degree criminal possession of a weapon, a felony, first-degree reckless endangerment, a felony, and unlawfully dealing in fireworks, a misdemeanor. Surace will be arraigned in Mount Pleasant Town Court on Tuesday.
Police arrested Surace after an undercover officer bought $1,000 worth of fireworks and noticed the large cache in the basement.
“Based on the volume of material and the potential explosive hazard, the decision was made to move immediately to arrest Mr. Surace and secure the home,” Public Safety Commissioner George N. Longworth said.
Many of the fireworks were the type used in commercial fireworks displays. Officers from the Westchester County Police Hazardous Devices Unit and the federal Bureau of Alcohol, Tobacco, Firearms and Explosives were removing the fireworks from the house.
Police Seize Cache Of Fireworks From Valhalla Home, Evacuate Area | The White Plains Daily Voice.
Business Insider drew on the latest data to identify the best housing markets for the next five years. The top 15 cities are ranked by the projected annualized change in home prices between Q4 2012 and Q4 2017.
Business Insider also included the median home price, median household income, unemployment rate, and the change in home prices since their peak, to offer a broader view of the local economy and housing market.
Click here to visit Business Insider’s list of top housing markets.
For the sixth straight month, home value appreciation was at or exceeded 5%, according to data from Zillow. More specifically, home values rose in April to $158,300.
Home values jumped 5.2% over year ago levels, Zillow ($59.41 0%)reported, reaching their highest level since June 2004.
A majority of the 365 metros — 55% to be exact — experienced home value appreciation in April from March. Sacramento saw the largest monthly increase, with home values jumping 3.4%. Las Vegas and San Francisco also reported monthly increases of 3% and 2.8%, respectively.
Looking forward, home values from April 2013 through April 2014 are predicted to rise 4% to approximately $164,648, according to Zillow. This is a drop from the 5.2% annual rate of appreciation reported between April 2012 and April 2013 and indicates a shift in supply and demand in some of the hardest-hit markets.
“April marks the sixth straight month of annual home value appreciation of 5% or above, the longest such streak since the height of the bubble in 2006. In the short-term, this has been welcome news for homeowners. But in the long-term, this cannot be sustained, and consumers entering the market today should not expect this kind of appreciation to last,” said Zillow Chief Economist Stan Humphries.
Humphries added, “Overall, we expect home value appreciation to moderate as more supply comes on line over the next year, but in some areas, runaway home value appreciation, combined with expected interest rate hikes in coming years, runs a real risk of pricing out many potential buyers. Home values in these areas will have to flatten or even fall to come back in line.”
Chicago was the only metro that did not experience year-over-year home value increases. More than half of the 30 largest metros covered saw double-digit percentage increases.
Home values rise 5% for sixth consecutive month | HousingWire.
PulteGroup survey: Intention to buy rose among most 18- to 34-year-olds in the last year
Most millennials that make more than $50,000 a year are more interested in buying homes than they were a year ago, a recent survey by homebuilder PulteGroup, Inc. found.
Nearly two-thirds, or 65 percent, of renters between 18 and 34 who responded to the survey and had an income above $50,000 said that their intention to buy has “significantly or somewhat increased in the past year,” PulteGroup said.
“Millennials have witnessed the housing boom and bust, but still believe homeownership is a good investment,” said Fred Ehle, vice president for PulteGroup, in a statement. “Consistent with other third-party research that shows more than 90 percent of millennials plan to buy a home someday, we see a lot of young adults who are making financial sacrifices to afford a place of their own.”
As part of the survey, PulteGroup also polled people on what home aspects matter most to them. The company found that millennials highly value efficient use of space in a home, with 69 percent of respondents indicating that they “overwhelmingly want an open layout space in the kitchen and family rooms for entertaining family and friends.”
Millennial survey respondents also said these features were either very important or extremely important to them:
More millennials see homeownership as a good investment | Inman News.
Douglas Elliman Real Estate just released the “Elliman Report: Manhattan & Brooklyn Rentals April 2013,” the leading resource on the state of the Manhattan and Brooklyn rental markets. As always, our market reports are produced in conjunction with Miller Samuel to provide you and your clients with the most comprehensive and neutral market insight available.
Year to date, Manhattan rents continued to rise at the same brisk pace as last year. The gains in rental prices have been consistent across all apartment sizes compared to a year ago. Landlord concessions were used sparingly and the vacancy rate remained below long-term averages. The continuing strength of the rental market has been somewhat surprising since the Manhattan sales market has also seen rising prices and sales volume. Tight credit conditions and an improving regional economy continue to keep pressure on the demand for rental housing.
After several months of rapid gains, Brooklyn rental price increases slowed in the month of April. However, the rapid pace of the market continued with brisk listing periods and the lowest listing discount seen in the new year. Competition from a robust sales market along with low mortgage rates are keeping increases in check. We anticipate similar conditions over the coming months.
We constantly look for ways to provide our clients with better information to enable them to make more informed decisions. Our efforts to make this market report series possible reflect my strong belief that in a market that is constantly changing, access to timely information is one of the greatest resources we can offer our clients. We are committed to providing the best information and services in the industry. Explore our full market report series covering Manhattan, Brooklyn, Queens, Long Island, The Hamptons, North Fork, Westchester/Putnam, Miami, Boca Raton, Fort Lauderdale and Palm Beach at http://www.elliman.com/marketreports.
Douglas Elliman releases Manhattan-Brooklyn Rental Report | Bedford Realtor.
WESTCHESTER COUNTY, N.Y. – Residents in Chappaqua, Bedford, Mount Kisco and Armonk should eliminate standing water from around their properties, especially after it rains to help prevent mosquitoes from breeding, in an effort to eliminate breeding sites for mosquitoes that can carry West Nile Virus, Westchester County Department of Health said.
The county will start its West Nile Virus prevention efforts on Monday, May 13, by checking catch basins throughout the county for standing water and applying larvicide as needed.
Large areas of standing water on public property that cannot easily be removed should be reported to the Health Department by calling (914) 813-5000.
Health department larviciding teams will begin in the northern part of the county and work their way south, evaluating and treating as needed all catch basins on county and municipal roads throughout the county over the next few months.
“Through the combined efforts of residents and county government, we can successfully curb the mosquito population and keep cases of West Nile Virus to a minimum,” said Sherlita Amler, MD, commissioner of health.
A bill designed to speed up the foreclosure process in Florida passed the state Senate Friday and is now heading off to the governor for final approval, Naples Daily News reported.
The publication explained how the bill is designed to expedite the default process in a state that continues to deal with foreclosure backlogs and issues stemming from the housing meltdown.
The legislation expedites the process by requiring a judge to immediately review any foreclosure filings in chambers without a hearing, before asking the parties to show cause why a final judgment should be entered.
That process allows the judge to enter a final judgment quickly if the lender feels the borrower has no defense. But if a homeowner believes he or she has a case, a judge will be required to hear the homeowner’s case.