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Bedford NY Schools

Americans are Moving More Often | Bedford NY Real Estate

Rising home values, affordable prices, pent up demand and fewer households underwater on there are motivating more American families to move more often. The average home buyer is expected to stay in a home only 13 years, down from a peak of 20 years in 2009.

Based on a long-run calculation that averages mobility tendencies over a number of years, the typical buyer of a single-family home-including first-time buyers as well as move up buyers- can be expected to stay in the home is now approximately 13 years, according to recent article published by the National Association of Home Builders.

The NAHB work updates a previous article that used data from the American Housing Survey (funded by the Department of Housing and Urban Development and conducted in odd-numbered years by the Census Bureau) through 2007. The new study incorporates AHS data through 2011.

The mobility tendencies observed in the 2011 data imply that the expected length of stay in an owner-occupied, single-family home would be about 16 years (the time it would take half of single-family buyers to move out). However, 2011 is likely to be an atypical year, so the article repeats the analysis using mobility tendencies observable in earlier years, with results as shown in the figure below.

If a single estimate is needed for how long buyers who move in today or in the near future can be expected to remain in their homes, the article recommends 13 years, based on the rounded average across all data points.

The article also shows that, over the 1987-2011 period, the expected length of stay in a single-family home has been consistently longer for trade-up buyers than for first-time buyers. Averaged over those years, the expected length of stay in a single-family home is about 11 and a half years for first-time buyers, compared to 15 years for buyers who have owned a home before.

The National Association of Realtors reported that the average tenure is still nine years in its recent 2012 Profile of Home Buyers and Sellers, up from six years before the housing crash in 2007, but the average buyers expectation is to live in theuir new home 15 years.

Bedford NY area homes selling under $500k up 39% | RobReportBlog

Bedford NY area real estate selling for under $500k up 39% |  RobReportBlog

Bedford NY Real Estate Market Report  –  last six months

2012

120  homes sold

2011

86  homes sold

The market for homes selling for under $500k is up 39.5% from last year.  Low rates and market realistic pricing has been good news for the market.

Currently there are 133 homes for sale asking under $500k in the area and at the current pace they will sell in     6.65 months.  A very healthy market in this price range.

U.S. Solar Industry on Pace for Record Growth in 2012 | Bedford NY Real Estate

solar installs 2012

With only weeks left in 2012, it appears that the U.S. solar installs will surpass 2011 levels in dramatic fashion. A new report from GTM Research and the Solar Energy Industries Association® (SEIA®) released today shows 684 megawatts added in the third quarter (Q3) of 2012, representing 44-percent growth over the same period last year. Already, 1,992 megawatts have been added to the grid – surpassing 2011′s total of 1,885 megawatts. And we’ve still got reporting on the fourth quarter of 2012 to go!

According to the report, there are more than 6.4 gigawatts of solar electric capacity installed in the U.S., enough to power more than one million average American households.

“While Q3 2012 was remarkable for the U.S. PV market, it is just the opening act for what we expect to see in Q4,” said Shayle Kann, vice president of research at GTM. “We forecast more than 1.2 gigawatts of PV to be installed next quarter on the back of developers who are pushing to meet year-end deadlines in both the utility and commercial segments. We also expect to see the residential PV market post another record number in Q4, as third-party residential installers gain more traction in mature, cost-effective markets.”

Ok – so what’s all this mean? Greener energy, more acceptance, and cheaper prices. Average residential system prices dropped $5.45 per watt to $5.21 per watt nationally. In the utility sector, the savings were even greater – dropping to $2.40 per watt – a 30% decrease from last year.

Check out the full report here.

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