Tag Archives: Cross River Luxury Real Estate

How Much Does it Cost to Install Countertops? | Cross River Real Estate

Leave a reply
Whether in the kitchen or bathroom, the countertop can be the star of the room. A countertop should fit both your aesthetic style and your lifestyle. How much you pay for your countertops will depend on the sizes needed, the materials used and the labor involved.
Countertops usually get a lot of use. You don’t want to spend money on something that loses its beauty quickly or chips easily. The more you plan to use your counters, the more durability must be a major concern.  Continue Reading
Laminate Countertops

Laminate provides the best selection of colors and patterns at the lowest prices. Laminate can be used to form a seamless cove backsplash to keep spills from seeping behind the cabinets. They’re also cheap and easy to install. The down sides? Laminate scratches or chips easily. It can be tough to clean, and its colors can fade over time.

Ceramic Tile Countertops

No surface offers more choices than tile. The price you pay for tile will largely depend on where you get them. Go for a big box store and you can go as cheap as $10 per square foot. Contact an artist in Florence, and you could pay $5,000 per tile. Tile can adapt as easily to Mexican fiesta as it can to Tokyo contemporary. There are two downsides of tile. One is that it can expensive to install, depending on the square footage of your counters. The other is grout lines, which attract crumbs and stains and require periodic sealing to repel moisture.

Stone Slab Countertops (Granite, Marble, Quartz, etc)

Not much can add dazzle to your kitchen or bathroom like a stone slab countertop. The sheer beauty, amazing selection and durability of stone makes it an excellent choice for your home. The depth and character of natural stone cannot be matched by any man-made surface (though some made-made alternatives have taken great strides.) Natural stone does not depreciate with time and this stone will consistently add value to your home. The costs of the stone depend on how rare its elements, the size and particularly the length of the necessary cuts, which must be finished, buffed and polished. You can sometimes save big money on stone slabs by shopping through remnants.

Acrylic Countertops

The most popular of the acrylics is Corian by DuPont. Corian provides the color versatility of laminates with a rich look (and price) that rivals stone slabs. It’s easy to maintain. Scratches and nicks can easily be buffed out. If you want to create a seamless look, Corian can even be formed into sinks, so there’s no gap between the counter and the sink. Price is determined largely by square footage.

Other Expenses

You may want to also add a new sink or new faucets to your installation. This can be an additional cost, not only in purchasing the hardware, but the installation as well. If you’re going with a stone slab, you have the additional cost of cutting the hole. You also may need to hire a plumber, especially if you want to install something new like an instant hot water dispenser or side spray.

If you are upgrading and replacing your existing counters, you may have to pay for their removal from not only their current location, but from your home as well. Debris removal is normally not a huge expense, but it’s one you should talk with your contractor about nonetheless.
read more..

June Concludes Best Spring Home Shopping Season in Almost a Decade | Cross River Real Estate

Leave a reply

As the weather warmed up this spring, so did the national housing market, shaking off a relatively sluggish start to the year to register the highest annual rate of home value appreciation in any second quarter since 2004.

The U.S. Zillow Home Value Index rose to $161,100 as of the end of the second quarter, up 5.8 percent year-over-year and 2.4 percent from the first quarter, the largest annual gain since August 2006 and largest gain in any quarter since the fourth quarter of 2005. National home values rose just 0.25 percent during the first quarter.

Additionally, not only did the pace of home value appreciation quicken in the second quarter, but the recovery also fully took hold nationwide. Markets in some areas of the Northeast, Midwest and Southeastern U.S. that had previously been slow to turn the corner began to appreciate, which helped boost the overall national market. All of the top 30 largest metro areas covered by Zillow experienced annual appreciation as of the end of the second quarter, and all have hit their bottom. Metros with the largest annual gains in the second quarter included Sacramento (29.5 percent), Las Vegas (29.4 percent) and San Francisco (25.5 percent).

Home values are expected to rise another 5 percent over the next 12 months, according to the Zillow Home Value Forecast. Of the 30 largest metro areas, 29 are expected to show home value appreciation in the next year. Metros expected to see the highest appreciation rates through June 2014 include Sacramento (18.9 percent), Riverside, CA (16.6 percent) and Phoenix (11 percent).

Only the New York metro is expected to show home value depreciation over the next 12 months (-0.8 percent). One possible explanation for expected depreciation (however slight) in the New York metro area is because New York is a judicial foreclosure state, with all foreclosures requiring judicial review before completion, which can lengthen the foreclosure process. Because foreclosures take longer to work through the system, they continue to drag home value appreciation rates down, according to Zillow economists. This could also help explain why large metro areas in other judicial foreclosure states, including Pennsylvania, Ohio and Illinois, are expected to show only modest appreciation over the next year.

As home values continue to rise along with mortgage interest rates, and different kinds of buyers and sellers enter and exit the market, the landscape is expected to change.

“The U.S. housing market as a whole is currently not experiencing a bubble, but in many places it sure must feel like one, with some markets experiencing annual home value appreciation approaching 30 percent. Homeowners are feeling a sense of whiplash after years of depreciation, but this kind of market behavior won’t last,” said Zillow Senior Economist Svenja Gudell. “Investors are starting to pull out of some markets and regular buyers are coming back, and more inventory is slowly but surely coming on line, both of which will contribute to slowdowns in appreciation. Additionally, in some overheated markets, rapid home value increases coupled with rising mortgage rates will lead to housing prices and financing costs outpacing local income growth, which will also contribute to a moderation of the market. Combined, all of these factors will help the market in the second half of 2013 and beyond normalize and become much more steady than it has been in these past six months.”

 

 

June Concludes Best Spring Home Shopping Season in Almost a Decade | Zillow Blog.

Water Pressure Regulators and HOA Document Contingencies | Cross River Real Estate

Leave a reply

Water pressure valve regulators

Hi Leonard — I’ve recently read about water pressure that goes into houses and how it should be like 60-80 PSI. I understand that it can cause damage to pipes if it is much higher. I bought a tester, and my pressure is about 110 PSI, even though I have one of those pressure regulators on my house? I think it might be dead? Help! Bob M., Las Vegas

Hi Bob — Yes, the pounds per square inch (PSI) — and check with your local water authority — should be 60 to 80. You probably bought a $15 tester at the store, unscrewed an outdoor hose attached to your property, then screwed on the tester, turned on the water and found the higher 110 PSI. Good job for doing a little DIY test!

OK, you can reduce that pressure with the water pressure regulator; and you noted you have one on your house, but it doesn’t seem to be doing the job. Those regulators only last 5-7 years, so yours probably is dead if your house is older. To test a little more, you can carefully turn the screw at the top of the pressure regulator, while your tester is on the hose bib, and see if the pressure changes. If not, you need to replace the regulator, and they’re about $85.

If you can find an exact match and size, and your main water shut-off is in line from the city’s water supply and before the regulator, then you might be able to just shut off the water, unscrew the old regulator with a crescent or pipe wrench, and install a new one — if you are handy. If not, have a plumber come test the water PSI and install a new regulator for you.

For non-handy people, parts and labor will probably cost $350-$500 for the install, depending on whether the water main shut-off is easily accessible. Do a little more research on the Internet and make sure to have a couple of plumbers give you an estimate. Good luck.

 

 

Real Estate Q&A: Water Pressure Regulators and HOA Document Contingencies | Zillow Blog.

Support for ‘patent troll’ legislation builds | Cross River Real Estate

Leave a reply

A push for legislation cracking down on so-called “patent trolls” is gathering steam on Capitol Hill, potentially spelling relief for many businesses, including those in the real estate industry.

Last week, Rep. Hakeem Jeffries, D-N.Y., introduced the “Patent Litigation and Innovation Act of 2013″ (H.R. 2639) in the House, which is related to the “Patent Abuse Reduction Act of 2013″ (S. 1013) introduced by Sen. John Cornyn, R-Texas, in May.

The White House has also issued a series of legislative recommendations and executive actions to tackle the issue. The executive actions will require patent applicants and owners to disclose the true owner of a patent, train patent examiners to flag overly broad patent applications, and offer a website educating consumers and small-business owners about what to do if they are targeted, among other things.

Federal Trade Commission Chairwoman Edith Ramirez last month urged the commission to use its authority to collect more comprehensive information about the business models and scope of “patent assertion entities” — the formal name given to companies that are focused primarily on purchasing and asserting patent claims against companies with products currently on the market.

“These entities are driving the increase in patent litigation and targeting firms in a growing slice of the economy,” Ramirez said. Patent trolls have moved beyond their original primary targets — information technology firms — and are going after financial services providers and retailers, she said.

“Even hotels and coffee shops are not immune,” Ramirez said, and the costs to consumers “appear increasingly tangible and direct.”

– See more at: http://www.inman.com/2013/07/17/support-for-patent-troll-legislation-builds/#sthash.Fb1QAAW4.dpuf

 

Support for ‘patent troll’ legislation builds | Inman News.

Realtor.com: Inventories are Returning to Normal | Cross River Real Estate

Leave a reply

While June inventories continue to be down on year-over-year basis, they rose for the sixth consecutive month and are steadily returning to more normal levels. The number of homes listed for sale increased by 4.3 percent in June to 1.9 million homes, the highest level in the last year, according to monthly data released Monday by realtor.com.

Inventories on realtor.com reached their highest level in more than a year, suggesting that market fundamentals continue to be strong and that housing supply in many markets is gradually catching up with housing demand.  At same time, the median age of the inventory increased by just one day in June, suggesting that housing sales are generally keeping pace with new property listings.

Both year-over-year list prices and inventories rose simultaneously. While the median list price has stabilized somewhat, it remains 5.27 percent higher than it was one year ago. Rising inventories appear to be having a moderating effect on median list prices, although on a year-over-year basis, median list prices were up by 1 percent or more in 98 of the 146 MSAs covered by realtor.com, compared to 103 markets in June, while the number of markets with a list price decline of at least 1 percent rose from 23 to 25.

Key Market Indicators for June 2013

June 2013

Year-over-Year % Change

Month-over-Month % Change

Number   of Listings

1,931,713

-7.29%

4.26%
Median   Age of Inventory

80

-15.79%

1.27%

Median   List Price

$199,900

5.27%

0.45%

Despite six consecutive months of steady growth, inventories continue to be down by 7.29 percent on a year-over-year basis, although they are now approaching more normal levels. The median age of the inventory rose to 80 days in June, up by one day (1.27 percent) over the month but down by 15.79 percent on a year-over-year basis.

The geography of low inventories changed during June. The top ten markets reporting year-over-year inventory declines are no longer dominated by California markets but now include Boston, Lansing, Grand Rapids and Monmouth NJ.  Their potential shortfalls in supply are likely to support robust house price appreciation going forward.  Inventories remain depressed in markets where prices have not improved significantly or where negative equity is greater than elsewhere, making it difficult or owners to sell

 

 

Read more…

 

http://www.realestateeconomywatch.com/2013/07/realtorcom-inventories-are-returning-to-normal/print/

 

‘Long way to go before the caldron bubbles over’: CoreLogic | Cross River Real Estate

Leave a reply

Analytics firm CoreLogic argued in its latest MarketPulse report that the housing market is not on the road to bubble territory, and rising interest rates will only make it less likely for it to head in that direction.

“Economists are often referred to as dismal scientists because of their emphasis on the downside of economic events. However, CoreLogic is prepared to offer an optimistic opinion about the U.S. housing market,” read the report. “CoreLogic does not believe the market is experiencing a housing bubble, either nationally or even in some of the fastest-growing markets.”

The firm also said that housing today remains highly affordable relative to historical norms.

“For housing price affordability to return to the average level that we saw in the years between 2000 and 2004, either home prices would have to rise an additional 47 percent or interest rates rise to 6.75 percent,” CoreLogic said.

“So while the bubble opinions swirl like the words of Shakespeare, ‘Double, double toil and trouble/Fire burn and caldron bubble,’ this housing market still has a long way to go before the caldron bubbles over,” the report later added.

– See more at: http://www.inman.com/wire/long-way-to-go-before-the-caldron-bubbles-over-corelogic/#sthash.SYMVwu20.dpuf

Greenwich, Take Steps To Avoid Mosquitoes And West Nile Virus | Cross River Real Estate

Leave a reply

The discovery of a mosquito carrying the West Nile virus in Norwalk last week renews the summer fear of insect bites.

The Connecticut Mosquito Management Program advises the best way to avoid the West Nile virus is to lower your risk of being bitten by mosquitoes.

Here are steps to take to avoid the annoying summer pests, according to the Mosquito Management Program:

  • Minimize time spent outdoors between dusk and dawn when mosquitoes are most active.
  • Be sure door and window screens are tight-fitting and in good repair.
  • Wear shoes, socks, long pants and a long-sleeved shirt when outdoors for long periods or when mosquitoes are most active. Clothing should be light colored and made of tightly woven materials that keep mosquitoes away from the skin.
  • Use mosquito netting when sleeping outdoors or in an unscreened structure and to protect babies when outdoors.
  • Consider the use of mosquito repellent, according to directions, when outdoors.

Restricting mosquito breeding habitats can greatly lessen the potential for West Nile virus to become a significant human health threat, the Connecticut Mosquito Management Program says.

To protect you and your family from mosquitoes and the West Nile virus, it advises you:

  • Reduce the amount of standing water available for mosquito breeding around your home.
  • Empty standing water from used or discarded tires, including tire swings, that may have accumulated on your property.
  • Dispose of cans, plastic containers, ceramic pots or similar water-holding containers. Do not overlook containers that have become overgrown by vegetation.
  • Drill holes in the bottom of recycling containers that are left outside. Drainage holes on the sides collect enough water for mosquitoes to breed.
  • Clean clogged roof gutters annually. Roof gutters can produce millions of mosquitoes each season.
  • Turn over plastic wading pools when not in use. A wading pool becomes a mosquito producer if it is not used regularly.
  • Turn over wheelbarrows and do not allow water to stagnate in birdbaths. Change water in birdbaths and wading pools weekly.
  • Aerate ornamental pools or stock them with fish. Water gardens are fashionable but become major mosquito producers if they stagnate.
  • Clean and chlorinate swimming pools, even if not being used. A swimming pool left untended during a vacation can produce enough mosquitoes to result in neighborhood-wide complaints. Mosquitoes may breed in the water that collects on swimming pool covers.
  • Use landscaping to eliminate standing water that collects on your property. Mosquitoes can develop in any puddle that lasts more than seven to 10 days

 

Greenwich, Take Steps To Avoid Mosquitoes And West Nile Virus | The Greenwich Daily Voice.

13 Homes From the 13 Colonies | Cross River Real Estate

Leave a reply

We have 50 states now, but 237 years ago, there were just 13 Colonies with a handful of settlements in each. To celebrate Independence Day, we’re taking a real estate tour through each colony and getting a history lesson along the way.

Virginia

240 Prince George St, Urbanna, VA
For sale: $449,000
Year built: 1742

virginia

Once upon a time, this residence was a tavern serving the seaport town of Urbanna. The story goes that the quaint residence even hosted Patrick Henry, the lawyer and future legislator who openly argued for the Colonies’ freedom from British rule.

Massachusetts

306 Concord St, Framingham, MA
For sale: $289,900
Year built: 1628

Massachusetts

The construction date of this home is just eight years after the colony of Massachusetts was founded by Puritan settlers. Coined the Thomas Gleason House, this residence has seen its share of history and updates, but it still has some of its original Colonial characteristics.

New Hampshire

130 Old College Rd, Andover, NH
For sale: $2.45 million
Year built: 1781

new hampshire

Little-known state fact: New Hampshire was called North Virginia when it was first founded in the 1620s by Capt. John Smith, (yes, that John Smith of Pocahontas fame.) This stately gentleman’s farm residence didn’t see Smith, but boasts a 5,500-square-foot home, 680 feet of lake frontage and a location just 90 minutes north of Boston.

Maryland

3251 Gamber Rd, Finksburg, MD
For sale: $2.889 million
Year built: 1765

marylan

This 18th-century stone home was originally built for the governor to the king of England. Years later, the home is still grand. The 7-bedroom, 5-bath home is listed on the National Register of Historic Places and sits on a pastoral setting an hour from the the nation’s capital.

Connecticut

6 Parker Ln, Essex, CT
For sale: $1.45 million
Year built: 1750

connecticut

Built years before the rumblings of revolution led to all-out war, this lakefront Connecticut property sits above a sloping lawn and quiet beach. The 3-bedroom, 3-bath home has been updated from its Colonial roots and includes freshly refinished hardwood floors and a water-facing porch

 

13 Homes From the 13 Colonies | Zillow Blog.

US Foreclosure Inventory Declines | Cross River Real Estate

Leave a reply

florida foreclosure

U.S. foreclosure inventory, which refers to properties in some stage of foreclosure, equaled 1.1 million in April,according to CoreLogic’s latest report.

This was down 24% from 1.5 million a year ago. It was also down 2 percent from March.

Foreclosure inventory represented 2.8% of all homes with a mortgage, compared with 3.5% a year ago.

Meanwhile, there were 52,000 completed foreclosures in April, the same as March. But this was down from 62,000 a year ago. Before the housing bust, completed foreclosures averaged about 21,000 a month.

Home prices have been boosted by tight supply, especially a decline in the stock of distressed properties.

“Fewer distressed properties combined with improving home prices and a pickup in home purchases are significant signals that the ongoing recovery in the housing and mortgage markets continues to gather steam,” said Anand Nallathambi, president of CoreLogic in a press release.

Here are some details from the report:

  • “The five states with the highest number of completed foreclosures for the 12 months ending in April 2013 were: Florida (102,000), California (79,000), Michigan (68,000), Texas (53,000) and Georgia (47,000). These five states account for almost half of all completed foreclosures nationally.”
  • “The five states with the highest foreclosure inventory as a percentage of all mortgaged homes were: Florida (9.5 percent), New Jersey (7.4 percent), New York (5.1 percent), Maine (4.4 percent) and Nevada (4.3 percent).”
  • “The five states with the lowest foreclosure inventory as a percentage of all mortgaged homes were: Wyoming (0.5 percent), Alaska (0.6 percent), North Dakota (0.7 percent), Nebraska (0.8 percent) and Virginia (0.9 percent).”

Here’s a look at foreclosure inventory by state:

foreclosure inventory by state

 

US Foreclosure Inventory Declines – Business Insider.

Madison Square Garden offers the Street exclusive real estate investment | Cross River Real Estate

Leave a reply

Real estate is one of the hottest investment stories on the Street. That’s because fro the first time in six years, home prices logged an annual gain in 2012, and that momentum has carried into 2013.

But while there is consensus that real estate is rebounding, how to profit is a different story.

The Madison Square Garden Co.  ($59.44 0.02%) is an integrated sports media and entertainment company that provides investors with exposure to a one-of-a-kind real-estate asset: New York City’s Madison Square Garden.

The company is maximizing value and expanding margins with a $1 billion renovation project wrapping up this fall that will enhance fans and performers’ experiences. That includes upgraded seating, more bathrooms, retail space and a wider selection of food. The facility will also receive upgraded lighting, sound and video systems.

 

Madison Square Garden offers the Street exclusive real estate investment | HousingWire.