Tag Archives: Chappaqua Luxury Real Estate

Referendum Sought On Chappaqua Train Station Lease | Chappaqua Real Estate

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Applicants who sought to lease space at the Chappaqua train station and were turned down in favor of Leslie Lampert’s Love at 10514 want the lease to be the subject of a permissive referendum.

The applicants — Via Vanti! founder Carla Gambescia and Peter and Erin Chase — have teamed up to back the effort, which requires petition signatures from New Castle residents equal to five percent of the total local turnout in the last election for governor. The deadline for collecting valid signatures is Wednesday, June 18.

The three individuals, collectively, were two applicants because the Chases filed together.

The three, in an announcement of the initiative that was posted to a Facebook group called Our Station, Our Town, gave a statement.

“We are fully confident we will be able to gather the required number of local registered voters’ signatures, resulting in the issuance of a Permissive Referendum on the lease. We, like so many of our fellow residents, are not pleased that we are compelled to seek this course of action; however, we want what is best for our town and only wish for an end result that the residents of New Castle can all feel proud of.”

 

 

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http://chappaqua.dailyvoice.com/news/referendum-sought-chappaqua-train-station-lease

How borrowers can still get a mortgage below 3 percent | Chappaqua Real Estate

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With the average mortgage interest rates well north of 4 percent and predicted to move toward 5 percent by the end of the year, it may surprise you to know that there are still ways to get a rate below 3 percent.

Yes, we said below 3 percent. And yes, on a house.

“It’s definitely possible to get a rate below 3 percent. It’s just going to be a unique product, and not for everyone,” says Nate Kuchera, a senior loan officer with Bank of Manhattan of Newport Beach, California.

But if it is for you, it will save you a lot of money, he says. Here are ways people are still locking in sub-3 percent rates.

Get a 10-Year Mortgage

If you’re looking for the lowest rate you can get on a fixed-rate mortgage, a 10-year term is your best bet, says Kuchera. He says it’s a rare product, but some people do choose it. And right now, he says you can likely find 10-year, fixed-rate mortgages at below 3 percent.

“This is good for people who are on the brink of retiring,” he says. “They’re on the tail end of their careers and want to pay off their mortgage quickly but don’t want to do it in one big lump sum. So they refinance to a 10-year.”

In addition to paying off their home for retirement, he says they also have the opportunity to save a lot of money in interest. That, of course, depends on their original mortgage, he says.

Still, to illustrate how much paying off a mortgage in a shorter time could save you, consider that the lifetime interest on a 30-year, fixed-rate,$300,000 mortgage with a rate of 4.41 percent is $241,460. The lifetime interest on a 10-year, fixed-rate $300,000 mortgage with a rate of 3 percent is $47,619. That’s a $193,841 difference.

There is one thing to keep in mind, however, says Kuchera. With a shorter term mortgage, your monthly payments will be higher.

“Yes, your rate may be better but you know how life is, things come up,” says Kuchera. “So make sure you’re comfortable with the higher payment. If you are, you’ll save a lot of money.”

 

 

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https://homes.yahoo.com/news/how-to-get-a-rate-below-3-percent-182724351.html

Pending home sales plunge 9.2% in April | Chappaqua NY Real Estate

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Pending home sales for the month of April plummeted 9.2% compared to April 2013, the National Association of Realtors reported Thursday.

Contracts signed to buy existing homes increased 0.4% in April compared to March 2014, but that’s coming off three months of flat sales blamed on cold weather.

The expectation had been for at least a 2% gain month-over-month.

Optimistic economists expected that there was a swathe of pent-up demand that would flood the market at the start of the spring buying season. That didn’t happen.

“Higher inventory levels are giving buyers more choices, and a slight decline in mortgage interest rates this spring is raising prospective homebuyers’ confidence,” said Lawrence Yun, chief economist for the NAR. “An uptrend in closed sales is expected, although some months will encounter a modest setback.”

Sales have arrested despite mortgage rates now being at a near nine-month low after five straight weeks of steady declines. The 30-year fixed rate mortgage this week was 4.12%. Even refinancings have dropped to 37% of all mortgage activity, meaning borrowers are staying away despite historic lows.

Which means it could get worse, as Yun projects the 30-year fixed-rate mortgage to trend up and average 5.5% next year.

“The extent to which higher mortgage interest rates will impact housing affordability and sales depends on income growth, ongoing improvement in the labor market and any change to mortgage underwriting conditions,” he said.

This comes as the economy is looking at more bad news.

The nation’s domestic economic output for the first quarter was revised downward Thursday, posting a contraction of -1.0% from a meager positive 0.1% initially reported.

 

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http://www.housingwire.com/articles/30140-pending-home-sales-plunge-92-in-april

Where Can You Really Afford to Buy a Home? | Chappaqua NY Real Estate

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Owning a home has long been associated with success, stability, and work ethic. An investment in your future, purchasing a home is one of your more significant financial decisions. It’s a decision two out of every three Americans have made in recent years.

Interest rates, housing markets, community and school ratings, and crime statistics are only a few of the factors that may weigh into the decision to buy a home. This week, the 30-year fixed mortgage rate is 4.33 percent, and next week this rate will likely change.

While finding the right home that will earn you a decent return on your investment is essential, perhaps even more critical is the need to find a home you can afford. HSH recently published a report on the annual salary required to purchase a home in 27 different metropolitan areas. Based on this report and other supplemental data, let’s see where you can afford to buy at the median home price.

Read more: http://wallstcheatsheet.com/personal-finance/where-can-you-really-afford-to-buy-a-home.html/?a=viewall#ixzz32Mv4rOsv

 

How to build a tiny house for $30,000 | Chappaqua Real Estate

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This is Alek Lisefski’s tiny home, which was built on a 8-by-12-foot flatbed trailer and inspired by his desire to live a simpler, more sustainable lifestyle. The home measures 13 feet and 4 inches tall, 8 feet and 6 inches wide, and 20 feet long, and can be pulled behind a car

 

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http://realestate.msn.com/how-to-build-a-tiny-house-for-dollar30000

Drop in rates spurs rise in mortgage refinancing | Chappaqua Homes

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Mortgage applications edged slightly higher last week, as rates fell to their lowest level since November.

Applications rose 3.6 percent on week. However, the move was entirely due to a 7 percent gain in refinances, according to the Mortgage Bankers Association. Meanwhile, applications to purchase a home fell less than one percent on week but dropped 12 percent on year.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) decreased to 4.39 percent from 4.43 percent. Concerns over whether or not the European Central Bank (ECB) might undertake easing measures at its June policy meeting spooked equity markets last week. Lackluster retail sales this week didn’t help matters. As investors flee to the relative security of the bond market, yields fall, and interest rates loosely follow those moves.

 

“We always get some response to any move to periodic highs/lows in rates. Some magic percentage of mortgage holders are always needing or wanting to refinance, and some percentage of that percentage is flexible as to their lock time frame,” said Matthew Graham COO of Mortgage News Daily. “Those are the folks that make the applications numbers move the most. In general, they’re locking more as rates are hitting periodic lows.”

 

 

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https://homes.yahoo.com/news/drop-rates-spurs-rise-mortgage-110000227.html

Big bargains for sale in the 10 best small towns | Chappaqua Real Estate

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The words “small town” conjure an array of mental images — quaint streets, neighbors helping neighbors and backyard barbecues.

Smithsonian Magazine recently released its look at the “20 Best Small Towns to Visit in 2014,” which inspired us to see if those towns were worth more than just a visit. The magazine limited the list to towns of less than 15,000 residents, so if you are looking to avoid the madding crowds and embrace small-town living, these cities may fit your bill.

We picked a home from each of the top 10 visit-worthy towns. You’ll find an interesting mix of high and low price points, charming homes and a converted church to boot.

 

 

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http://realestate.msn.com/big-bargains-for-sale-in-the-10-best-small-towns

Mortgage applications climb 5.3% for week | Chappaqua Real Estate

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Breaking two weeks of declines, mortgage applications increased 5.3% from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending May 2, 2014.

The Market Composite Index, a measure of mortgage loan application volume, increased 5.3% on a seasonally adjusted basis from one week earlier.

The Refinance Index increased 2% from the previous week. The seasonally adjusted Purchase Index increased 9% from one week earlier to the highest level since January 2014.

“It is official: we are in a majority purchase market for the first time since 2009,” said Mike Fratantoni, MBA’s chief economist. “A sizeable increase in purchase applications last week likely reflected the impact of somewhat lower mortgage rates as well as continued growth in the job market, as confirmed by Friday’s employment report from the BLS.”

Despite the strong increase in the purchase market last week, volume continues to run 16% behind last year’s pace.

 

 

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http://www.housingwire.com/articles/29928-mortgage-applications-climb-53-for-week

32% of people looking to buy a home in the next two years | Chappaqua Real Estate

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Americans are becoming more optimistic about buying a home, with 67% of people saying they plan on purchasing a home, and of that amount, 32% are looking to buy within the next two years.

The PulteGroup (PHM) Home Index surveyed 1,004 adults on their sentiment about the U.S. economy and how current housing conditions are impacting future homebuyers.

According to the survey results, 74% of adults feel the economy has remained steady or improved in the last year.

As a result, 57% of adults think now is a good or excellent time to purchase items they want or need, especially when it comes to entering the housing market.

Millennials and move-up buyers are the most engaged consumer segments, with 85% and 71%, respectively, intending to purchase a home in the future.

“For the first time in years, Americans have a growing sense of optimism that the housing market is improving, and that these positive changes may be sustainable,” said Margaret Gramann, senior vice president of sales for PulteGroup.

“This favorable outlook is giving them the confidence to pursue more meaningful, big-picture life opportunities they may have otherwise put on hold,” Gramann added.

There are two main drivers to purchasing a home: the need for more space and the view that owning a home is a smart financial investment.

Currently 70% of home shoppers plan to spend as much or more money on their next home, along with 64% of people saying they prefer to spend on a home that’s move-in ready rather than spend less and renovate.

“Whether it’s a first-time or move-up buyer, or an active adult, purchasing a home is a major life decision and Americans are recognizing the importance of maximizing what they view as a long-term investment,” said Gramann. “They’re aiming to create value in a home that meets their specific wants and needs from day one, and if that means spending more money, they’re willing to do so because of confidence in the market.”

And as consumer demand for housing increases, so does the demand for more credit.

For borrowers who already have a home, the demand for home equity lines of credit is increasing.

 

 

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Americans ready to spend money…especially on housing

Do-it-yourself design projects that are less crafty | Chappaqua Homes

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Pinha lamp

To create its customizable Pinha lamp, the London studio Raw-Edges took advantage of cork’s unique properties. As an insulator with low heat conductivity, it’s safe to wrap around virtually any bare lightbulb without the risk of burning the whole house down. And the fact that it makes a great pincushion gave the duo the idea for its shape: Four tiers provide the perfect platforms for tacking on a shade of your choosing, from graph paper to vintage maps.

 

 

 

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http://living.msn.com/home-decor/diy-decorating/do-it-yourself-design-projects-that-are-less-crafty-more-cool#2