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Chappaqua NY Homes

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

See a Concrete House With a $0 Energy Bill | Chappaqua Real Estate

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Damon Gray has spent 10 years building wood-frame homes. That’s exactly why he stayed away from wood framing when he built his own home. Wait, what?

“I got sick of renovating homes that were falling down,” explains Gray, who lives in Victoria, British Columbia. “In B.C., it’s a wet climate, which is great for mold and rot. So when it came to my house, I kept telling myself, ‘You’ve got to stop building these things that are going to last only 30 years.’”

Instead, Gray went with a concrete structure to create a home built on super-energy-efficient Passive House design principles.He hasn’t lived in the house a full year yet, but so far, with the help of solar panels, he’s expecting his energy bill for the year to be $0.

contemporary patio by NZ Builders ltd
NZ Builders ltd
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Photos by Leanna Rathkelly

Houzz at a Glance
Who lives here: Damon and Annie Gray and their boys, Kael (age 2½) and Ollie (11 months)
Location: Victoria, British Columbia, Canada
Size: 3,000 square feet; 4 bedrooms, 4 bathrooms
Cost: $280 per square foot ($840,000)

After Gray measured the sun’s path, the L-shaped design emerged as the most advantageous. Gray learned that the property got the most sun on that L-shaped pocket at 3 p.m., so he responded accordingly. “If I changed the angle of the house by 15 degrees, it lessened the energy performance by 25 percent,” he says.

read more….
http://www.houzz.com/ideabooks/27285792?utm_source=Houzz&utm_campaign=u518&utm_medium=email&utm_content=gallery1

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

 

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

Housing recovery divided | Chappaqua Real Estate

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Monday Morning Cup of Coffee takes a look at stories across the HousingWire news desk, with more coverage to come on bigger issues.

As the first-quarter earnings season starts to come to a close, a new trend started to unfold in CEO letters to shareholders, according to an article in CNBC.

CEOs usually send the letters along with the company’s proxy statement in the spring because proxy statements are due within four months of every company’s fiscal year ending.

The article explained that most CEOs have a tendency to take this time to boast about their accomplishments.

But this year was a little different, with some CEOs taking the opportunity to rmark on recent, not-so-grand events. A full list of CEOs telling it like it is is available in the original USA Today article.

JPMorgan Chase (JPM) CEO Jamie Dimon dealt with a year filled billions of dollars of settlements, mostly related to mortgage securities.

“The bad news was bad,” he wrote. “The most painful, difficult and nerve-wracking experience that I have ever dealt with professionally was trying to resolve the legal issues we had this past year.”

However, Dimon stressed that despite all of the negative, JP Morgan came out strengthened. And, despite the loss, Dimon’s 2013 compensation package was raised to $20 million.

Thousands of homeowners will open their mailboxes to a pleasant surprise as Everbank Financial is prepared to write $1,050 checks to 25,389 of its customers, even though no errors were found in reviews of their foreclosure files, an article in The Washington Post explained.

 

 

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http://www.housingwire.com/blogs/1-rewired/post/29896-monday-morning-cup-of-coffee-jpmorgan-ceo-tells-all-housing-recovery-divided-across-nation

Teatown Lake Reservation Updates | Chappaqua Real Estate

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April 23, 2014
TEATOWN PROGRAMS THIS WEEK:
New Educational Workshop:  Nature Matters at Teatown
How Healthy Are Our Forests:
An Overview of Current Issues Disrupting Nature’s Delicate Balance
Speaker: Dr. Charlie Canham
Cary Institute of Ecosystem Studies
Thursday, April 24
7 pm
Sitting on PURPOSE

Saturday, April 26
10:00 am

Every Day is Earth Day

Saturday, April 26 1:00 pm – 3:00 pm For more information about this program

Sneak Peak at Programs Next Week: Central Park Birding with Charlie Roberto

Wednesday, April 30
Teatown Camp:
Summer is Just Around the Corner!
Summer Camp

Teatown’s Natural

Science Day Camp!
Four sessions this summer
TESA
Teatown’s Environmental Science Academy
for Teens
Visit Teatown
Like us on FacebookFollow us on TwitterFind us on PinterestView our videos on YouTube
1600 Spring Valley Road
Ossining, NY 10562
Nature Center hours:
9:00am-5:00pm daily
Trails are open 365 days a year from dawn to dusk.

Teatown Lake Reservation’s
mission is to conserve open
space and to  educate and
involve the regional community
in order to sustain the  diversity
of wildlife, plants and habitats
for future generations.

Your donation can make

an immediate impact to help

conserve and protect the

diversity of wildlife, plants

and habitats…

today and into the future.

Why We Do What We Do Support Teatown this Spring:
 

Imagine for a moment, Teatown without…

 

Dogwoods blooming in the Spring on the Back 40 Trail

 

– Or maples on display in all their glorious fall colors at Vernay Lake

 

– Or walking the Lakeside Trail without the sound of bird song

 

– Or without a forest at all

 

These are very real threats to the  biodiversity of Teatown’s preserve.  So, what are we doing? How is  Teatown leading as part of the solution?

 

Read on and become part of the solution…

 

Events at Teatown:
Fishing at Teatown, Members-Only
Saturdays in May and June
(must pre-register, rules apply) More information about Members-Only Fishing

Teatown’s Annual Plant Sale

($10 First Pick on May 9, Free May 10)
Movie on the Lawn, Members-Only
Friday, June 6 at 7:15 More information about Members-Only – Movie on the Lawn

Not a member, but want to participate in the Members-Only programs? Become a member today here!
Teatown is Seeking an EMT Health Director for Summer Camp
Teatown is seeking an EMT to act as Health Director for its science day camp, June 30th-August 22nd.   Responsibilities include responding to camper illness or injury, coordinating first aid supplies and medications, and speaking with parents about camper health issues. Candidates must be at least 21 years old, physically active and comfortable navigating through a natural setting on foot or by an off-road vehicle.  Please contact Lisa Baugh at lbaugh@teatown.org or call 762-2912 ext. 137.

 

Trail Work Volunteer Opportunities
Strap on your work shoes and grab a shovel! Teatown is offering trail volunteer workshops in April.
Volunteers will clear trails, replace markers and signs, remove invasives and more! We have projects for all ages, group sizes, interests and abilities.
Trail workshop dates: April 25 & 26: Stone Step Installation  – This Weekend!!

Contact Leigh Draper, ldraper@teatown.org for more information.
Trail Workshops made possible by Con Edison’s Teatown Trails Green Stewardship Program. 

 

I Love My Park Day

Saturday, May 3, 9:30 am – 2:30 pm On the Old Croton Aqueduct Trail

Co-sponsored by Teatown, join friends of the Old Croton Aqueduct on “I Love My Park Day” on the Old Croton Aqueduct Trail in Cortlandt/Ossining and lop vines, remove invasive plants and bushes and learn invasive plant ID and pruning/removal techniques.

Reigster in advance here
Walk-ins also are welcome.

 

In the Nature Center:  Through the End of April
Local Artist, Jeanne Demotses

Jeanne Demotses’ work is in the Nature Center and available for purchase through April 27th.  30% of proceeds will go towards supporting Teatown’s programs.

 

 

Out with housing recovery, in with unaffordability? | Chappaqua Homes

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Not only have home prices been on the rise for the ninth straight quarter, but they are starting to creep closer to being more expensive than ever.

According to the latest Zillow Home Value Forecast, home values grew 5.7% year-over-year in the first quarter, with declines experienced in the recession almost gone or close to being erased in almost 20% of metro housing markets nationwide.

Home values nationwide grew .5% from the fourth quarter of 2013, and are expected to increase another 3.3% through the first quarter of 2015.

“The lows of the housing recession are becoming an increasingly distant memory as home values reach new highs and homes become more expensive than ever in many areas. This is a remarkable milestone coming only two and a half years after the end of the worst housing recession since the Great Depression, and is a testament to just how robust this housing recovery has been,” said Zillow Chief Economist Stan Humphries.

Across the U.S., home values are 13.5% below their 2007 peak after falling 22.6% during the recession before bottoming in 2011.

However, the market is almost past this.

So far, 1,080 of the more than 8,700 cities and towns covered by Zillow, with home values already at or expected to reach pre-recession levels in the next year, including in many hard-hit areas.

 

 

read more….

http://www.housingwire.com/articles/29738-out-with-housing-recovery-in-with-unaffordability

Cubist Confection Oriented Toward Nature | Chappaqua Real Estate

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modern exterior by splyce design

When a Vancouver couple decided to give up their downtown condo for something closer to nature, they never realized just how close nature would get.
The cubist confection they built in West Vancouver embraces ocean and forest with unparalleled gusto, capturing views from every angle and allowing air to flow so fluidly through the building that the house cools itself.
Overlooking English Bay to the south and a steep, wooded creekside bluff to the west, the house makes the most of a limited footprint through a stacked floor plan and dramatic cantilevers.
Houzz at a Glance Who lives here: The owner of an electrical wholesale business, a psychotherapist and their daughters, ages 2 and 6 Location: West Vancouver, British Columbia Size: 4,600 square feet (427 square meters); 5 bedrooms, 5 bathrooms

9 Things Your Buyers Should Ignore While House Hunting | Chappaqua Real Estate

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For many buyers, looking for a new home can be a challenge. As agents, we see homes daily and are well-trained on how to see past the superficial problems and see a home for its potential. But when clients are looking for the home in which they plan on building their lives, it can be hard to envision how a home could truly be ‘mine.’ Many people choose to remodel and stage their homes prior to putting it on the market, but then there are the vast majority of people who choose to sell their beloved home “as-is.”

While a turn-key home is ideal for people who want to move right in and make no changes, there are those “time warp” homes that are actually incredible gems that just need a little polishing.

Love these tips? Share this information with current clients and your prospective buyers. Download the handout to include in your marketing materials and to help buyers throughout their home buying journey!

As you walk your clients through their house hunt, here are 9 things about a for-sale home that you should remind clients to ignore in order to keep them from passing on a what could be the perfect home for them.

 

http://www.trulia.com/pro/buyers/things-buyers-should-ignore/?ecampaign=anews&eurl=trulia.com%252Fpro%252Fbuyers%252Fthings-buyers-should-ignore%252F

 

Home Prices in 20 U.S. Cities Rose 13.2% in Year to January | Chappaqua NY Real Estate

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Residential real-estate prices climbed at a slower pace in the year through January than a month earlier, indicating momentum in the housing market may be cooling.

The S&P/Case-Shiller index of property values in 20 cities increased 13.2 percent from January 2013, the smallest gain since August, after rising 13.4 percent in the 12 months through December, the group said today in New York. The median projection of 30 economists surveyed by Bloomberg called for a 13.3 percent advance. Compared with the prior month, prices rose 0.8 percent.

Price appreciation on a year-over-year basis has eased in recent months as higher mortgage rates and unusually severe winter weather slowed demand for properties. Smaller increases in asking prices will help improve affordability, providing support for the residential real-estate market, which has been a source of strength for the economy.

“Prices are rising, even though we should see those gains moderating,” said Scott Brown, chief economist at Raymond James & Associates Inc., who correctly forecast the year-over-year gain. “You’re still talking about double-digit percentage increases, which aren’t going to be sustainable over the long term.”

Estimates (SPCS20Y%) in the Bloomberg survey ranged from year-over-year gains of 11.2 percent to 13.8 percent. The Case-Shiller index is based on a three-month average, which means the January figure was also influenced by transactions in December and November.

 

http://www.businessweek.com/news/2014-03-25/home-prices-in-20-u-dot-s-dot-cities-rose-13-dot-2-percent-in-year-to-january