Tag Archives: Chappaqua Luxury Real Estate

Sweet, Private Cottage on Five Acres in Wainscott Asks $1.2M | Chappaqua NY Homes

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121 Merchants Path, Wainscott
10 images

We quite like the Colonial Williamsburg vibe of this shingled cottage in the northern reaches of Wainscott. Plus, since it’s set on five acres, it’s quiet and private. The property has been on the market for months, though, so we wonder what the catch is. There’s a charming painted kitchen with a fireplace, more fireplaces in the living room and master bedroom, wide-planked floors, and charming built-ins and pocket doors. In all, there are four bedrooms and 3.5 baths in 2623sf. Outside, the plot is 5.45 acres with pretty gardens. No pool, but plenty of room for one. Price seems fairly reasonable, too.

 

 

http://hamptons.curbed.com/archives/2014/03/21/sweet_private_cottage_on_five_acres_in_wainscott_asks_12m.php

As credit tightens at home, Chinese sell Hong Kong luxury real estate | Chappaqua Real Estate

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Cash-strapped Chinese are scrambling to sell their luxury homes in Hong Kong, and some are knocking up to a fifth off the price for a quick sale, as a liquidity crunch looms on the mainland.

Wealthy Chinese were blamed for pushing up property prices in the former British territory, where they accounted for 43 percent of new luxury home sales in the third quarter of 2012, before a tax hike on foreign buyers was announced.

The rush to sell coincides with a forecast 10 percent drop in property prices this year as the tax increase and rising borrowing costs cool demand. At the same time, credit conditions in China have tightened. Earlier this week, the looming bankruptcy of a Chinese property developer owing 3.5 billion yuan ($565.25 million) heightened concerns that financial risk was spreading.

“Some of the mainland sellers have liquidity issues – say, their companies in China have some difficulties – so they sold the houses to get cash,” said Norton Ng, account manager at a Centaline Property real estate office close to the China border, where luxury houses costing up to HK$30 million ($3.9 million) have been popular with mainland buyers.

Property agents said mainland Chinese own close to a third of the existing homes that are now for sale in Hong Kong – up 20 percent from a year ago. Many are offering discounts of 5-10 percent below the market average – and in some cases as much as 20 percent – to make a quick sale, property agents and analysts said.

 

http://finance.yahoo.com/news/credit-tightens-home-chinese-sell-hong-kong-luxury-211105500–sector.html

Millions of renters say they really want to buy a home | Chappaqua Real Estate

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Millions of Americans say they want to buy a home this year, but many won’t be able to, according to a new survey from Zillow.

The reasons: Limited supply of homes, soaring prices and strict lending standards.

“The dream of homeownership remains very much alive and well,” said Zillow’s chief economist Stan Humphries. “But these aspirations must also contend with the current reality, and in many areas, conditions remain difficult.”

In all but one of 20 metro areas Zillow surveyed, 5% or more of residents said they wanted to buy a home over the next 12 months. The desire is particularly strong for renters: 10% of them want to buy. That would translate into 4.2 million first-time buyers, double the number who purchased in 2013.

That won’t happen. Inventories of homes for sale are up slightly, but there are still many local shortages.

And in some markets, like San Francisco, New York and Seattle, tight supply has translated into sky high prices few first-time buyers can afford. Nationwide, home prices are up some 11% last year, according to the S&P/Case-Shiller national home price index.

Meanwhile, mortgage rates have also been moving higher. The average rate for a 30-year fixed is about 4.3%, up about 0.8 of a percentage point compared with a year ago. That has made loan payments on a $200,000, 30-year mortgage about $90 a month more expensive.

3 reasons the housing recovery is sustainable | Chappaqua Real Estate

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The results of the 2013 Annual report from the Federal Reserve Bank of Dallas finds that the housing recovery is experiencing what appears to be a sustainable rebound.

“With a durable housing recovery at hand and the broader U.S. economy poised to further improve, we are confident that 2014 will bring new opportunities for the country and the Eleventh District, whose economic performance has led the nation forward from one of its toughest periods,” writes Dallas Fed president Richard Fisher.

Access to all four subreports, written by Dallas Fed vice president John Duca, are available here.

Duca outlines three factors that are broadly consistent with the sustainability of the recovery of real house prices.

Reaching these factors, the report states, is a necessary condition to continue a sustainable home-price turnaround. And this condition appears to have been met, considering evidence from several key measures.

1. Prices consistent with inventory

The inventory of unsold homes largely reversed course in 2011; the months’ supply of homes fell sharply. Since early 2012, this gauge has declined below the neutral six months’ supply threshold, and real house prices have risen at an annualized 4–5% since late 2012. The pace of sales relative to the level of houses for sale suggests that the balance of supply and demand will continue supporting further price increases.

2. Supply and demand is coming in line

House price levels can be sustained when the demand for housing (which mainly depends on personal income, real mortgage interest rates and credit standards) is in line with the housing supply.

Inflation-adjusted income has started to rise on a per-capita basis, and real after-tax mortgage interest rates have returned to more normal levels.

3. House prices are sustainable in light of rents and real mortgage interest rates

 

http://www.housingwire.com/articles/29316-dallas-fed-3-reasons-the-housing-recovery-is-sustainable

 

Down to Earth Farmers Market | Chappaqua Real Estate

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MAM-March 2014
Back by Popular Demand:                         Hudson River Apiaries, Maupston Design Studio, Pie Lady & Son, Trotta Pasta & MORE
Tomorrow, Saturday, March 15th Mamaroneck’s Winter Down to Earth Farmers Market 9:00 am-1:00 pm
Indoors at St. Thomas Episcopal Church                         168 West Boston Post Road (at Mount Pleasant Avenue)

Every week, fantastic local farmers and food makers come together at                        the market. They offer seasonal veggies and fruits,                        pasture-raised chicken and meats, fresh fish, pickles, cheese, savory                        yogurt, amazing breads & baked goods, locally-sourced international                        foods…the list keeps growing.

Tomorrow, in honor of St. Patrick’s Day on Monday, the market bakers are bringing Irish                        Soda Bread. If you eat gluten-free, don’t grow green with envy while                        others enjoy this treat. Meredith’s Bread has a gluten-free                        Irish Soda Bread for YOU.

From 10 am to noon, Brian Vegh will bring in the spirit with his Celtic violin playing.

Also, Trotta Pasta will have cheese-filled spinach tortellini! Normally priced at $6 for 13 ounces, this weekend they’re                        offering this specialty for just 1/2 price: $3 for 13 oz!

Everybody’s Irish in celebration of St. Patrick’s Day, or as Ed                        Trotta of Trotta Pasta says, “St. Patrick was born in England while                        under Roman rule, so that makes him Italian, right??”

VENDOR LIST FOR SATURDAY, MARCH 15th, 2014: American Pride Seafood
Danascara Cheese
Dr. Pickle
Flourish Baking Company
Gaia’s Breath Farm
Gajeski Produce
Maupston Design Studio (handspun yarns & more)
Meredith’s Bread
Orchards of Concklin
Orwarshers Bakery
Pie Lady & Son
Sohha Savory Yogurt
Stone & Thistle Farm
Taiim Falafel Shack
Tierra Farm
Trotta Pasta
Wave Hill Breads Stay tuned to all market events, day vendor listings, and more on the Mamaroneck market webpage.

Thank you for supporting local farms and food businesses.

Down to Earth Farmers Markets is a certified B (Benefit) Corporation that curates and manages approximately twenty farmers markets in Westchester and Rockland Counties, as well as in New York City. We envision a strong regional food system, built by independent farms and                        food businesses, that provides everyone with an alternative to                        industrial food. We believe that seasonal, local food is a vital part of                        our heritage that ensures the health of our communities and                        environment.

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Down to Earth Markets | 173 Main St. | 3rd Floor | Ossining | NY | 10562 | US

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17 Signs You Live in the Country | Chappaqua Real Estate

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1. Sorry, McMansions-it’s houses like this one that make you go weak in the knees.

2. You start mapping our your garden plans while there’s still snow on the ground.

3. You have a pet pig.

4. You drink cocktails out of Mason jars.

5. You dream of wraparound porches.

6. You think of bargain hunting as a competitive sport.

7. Forget high heels-cowboy boots are as fancy as you get.

8. You’ve pulled over to salvage a piece of furniture someone’s tossed out on the side of the road too many times to count.

9. Your chicken coop is your most-prized possession.

10. You can’t think of anything better than a glass of cold lemonade on a hot summer’s day.

11. You think the best farmer’s market is your own backyard.

12. You’d rather repurpose something old than buy something new.

13. Two words: Tree. Swing.

14. You’re not ashamed to admit you’ve taken the salt shaker straight to the garden before.

15. You fall asleep every night to the sounds of cicadas, crickets, and frogs.

 

http://shine.yahoo.com/at-home/17-signs-live-country-173100611.html

 

10 cities where ordinary people can no longer afford homes | Chappaqua NY Homes

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It now seems pretty clear that late 2012 or early 2013 was the ideal time to purchase a home: Real-estate prices and interest rates were both near record lows, creating an unprecedented buying opportunity for those who could muster a down payment and qualify for a mortgage.

Home affordability is still pretty good by historical standards, but typical buyers are once again being priced out in at least two dozen markets ranging from coastal hotspots to lower-cost inland cities. Three factors are pushing the cost of owning a home beyond the financial reach of ordinary families: Mortgage rates are ticking upwward as the Federal Reserve backs away from the super-easy monetary policy of the past five years. Home prices are rising as the economy recovers. And incomes are barely budging, which means typical families are once again falling behind as they try to bank enough to buy a home.

We used data from research firm RealtyTrac to determine where housing affordability is deteriorating the most. At the top of the list is Salinas, Calif., where a median-priced home rose 40% from the end of 2012 to the end of 2013, to $388,000. When rising interest rates are factored in, the income required to purchase a typical home rose by a whopping 58%.

The 10 areas in the list below are ranked by the increase in income required to buy a typical home from December 2012 to December 2013. We also included RealtyTrac’s affordability-index rating for the county each city is located in, to exclude cities in which required incomes have risen but homes are still relatively cheap. (The affordability index represents the median income per county as a percentage of the required income for a typical home purchase, so cities with a rating below 100 are less affordable while those above 100 are more affordable). We also grouped cities in northern and southern California into two entries, since there are so many of them. Here are the 10 areas where home affordability is deteriorating the most:

Source: RealtyTrac

With home prices rising nationwide by an average of about 11% in 2013, the income required to buy a typical home rose in all but a handful of cities. Still, affordability remains strong in the majority of markets, says Daren Blomquist of RealtyTrac. Here are the 10 cities where affordability has either improved during the past year, or barely changed (affordability-index data isn’t available for every city).

 

http://finance.yahoo.com/news/10-cities-where-ordinary-people-can-no-longer-afford-homes-203700652.html

Chappaqua School Budget Meetings Begin Monday | Chappaqua NY Homes

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The Chappaqua School District recently released an update on the 2014-15 budget process.

A PTA-sponsored Community Forum on the proposed school budget is set for 9:30 a.m. and 7:30 p.m. Monday, March 3, in Bell Middle School’s auditorium.

At each forum, Schools Superintendent Lyn McKay and Assistant Superintendent for Business John Chow will present a brief overview of the proposed budget, representatives said. The forums are intended to “provide an alternative venue for community members to ask questions, voice concerns and provide input before the board adopts its budget” on April 23.

The Board of Education will hold work sessions and meetings through the budget process.

The following is a listing of budget and school election dates, according to the district:

  • Wednesday, March 5, Board Work Session – Curriculum/Technology 7:30 p.m. – Horace Greeley High School (HGHS), Academic Commons
  • Wednesday, March 12, Board Meeting/Work Session – Special Education/Athletics 7:30 p.m. – HGHS, Academic Commons

http://chappaqua.dailyvoice.com/schools/chappaqua-school-budget-meetings-begin-monday

The Housing Market Is Plunging. Is It Time to Panic? | Chappaqua Real Estate

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The bottom just dropped out of the housing market. Or, at least, that’s what a report released this week by the government suggests.

According to the Commerce Department, the number of housing starts — new residential construction projects commenced during the month — plummeted by 16% in January compared to December.

It was the worst monthly decline in almost three years. The only recent month that even comes close was April of last year, when housing starts fell by 15%.

The general opinion is that unusually cold and snowy weather caused the dramatic decline, as many of the East Coast’s biggest cities have been bombarded by snowstorms since the beginning of the year.

According to the Associated Press, “U.S. home construction fell in January for a second month, but the weakness in both months reflected severe winter weather in many parts of the country.”

Yet, this appears to tell only half of the story, as housing starts in the hardest-hit region, the Northeast, actually increased by 62% compared to December. It was the Midwest that suffered the biggest blow, where new home construction fell by a staggering 68%.

“While we believe the weather did impact construction activity, we think this is just part of the story, as the new construction slowdown was more broad-based,” an economist at BNP Paribas wrote in a note to clients.

 

 

http://www.fool.com/investing/general/2014/02/23/the-housing-market-is-plunging-is-it-time-to-panic.aspx