Tag Archives: Lewisboro NY

Lewisboro NY

Short Sales Peak, Then Plummet | Cross River Real Estate

Distress sales as a whole are falling but short sales are declining twice as fast as fewer homeowners are losing their homes over the past year.

For the 12-month period ending in June 2013, distressed sales overall (including both REO and short sales) were down nearly 30 percent from the same period ending in June 2012 — from 650,000 to 463,000. Of these, short sales had declined significantly — by nearly 60 percent — accounting for just over 46,000 sales during that timeframe as compared to 104,000 in 2012 according to residential real estate transaction data from the LPS Home Price Index.

Short sales rose and fell quickly.  In the first quarter of 2012, some 109,521 properties were sold in pre-foreclosure — a proxy for short sales, according to RealtyTrac.  At that time, LPS reported a 25 percent increase from the same quarter the previous year and a three-year high and for the first time, short sale transactions are exceeding foreclosure deals. In January, short sales made up 23.9 percent of home purchases, according to LPS. Meanwhile, foreclosures made up 19.7 percent of sales.  Just one year prior, in the first quarter of 2011, foreclosures made up the bulk at 24.9 percent of transactions while short sales made up 16.3 percent.

LPS’ July Mortgage Monitor report also found that while loan origination volume had slowed slightly from May to June, overall activity remained relatively strong. According to LPS Data & Analytics Senior Vice President Herb Blecher, prepayment activity (historically a good indicator of mortgage refinances) is still largely driving origination volume, as has been the case for some time now.

“Prepayment speeds have been impacted by the sharp increase in mortgage interest rates we’ve seen over the last couple months,” Blecher said. “However, even with that increasing interest rate pressure, July’s monthly prepayment rates are still about where they were this time last year, when rates were at historic lows. In fact, they are roughly at the same levels as the heights of the ‘mini refinance booms’ in 2010 — when interest rates were comparable to where they are today — and in 2009, when rates were even higher. Of course, as interest rates continue to climb, we can expect that both prepayments and associated originations will decline. It’s notable however, that we saw an increase in prepayment activity in July among higher loan-to-value (LTV) mortgages — those with LTVs of 100 percent or more — indicating continued HARP refinance activity.







Jersey Leads in Mortgage Fraud Factors | Waccabuc Real Estate

New Jersey was the only state to make it on all three top 10 lists for mortgage fraud and misrepresentation reported to MIDEX, potential collusion and property defaults, according to the LexisNexis® Risk Solutions 15th Annual Mortgage Fraud Report.

Five states appear on both the Investigation and Origination Mortgage Fraud Indices (MFIs) and the newly-established list of Property Default Rankings: Florida, Georgia, Illinois, Nevada and Ohio.1

Ohio, which ranked first on the Origination MFI list, with a ranking of 224, had more than two times the expected rate of fraud or misrepresentation based on origination volume.

“This year’s study suggests that the more shared problematic economic indicators a state has, the greater its financial challenges will be in the coming years,” said Tom Brown, Senior Vice President, Financial Services, LexisNexis. “With Consumer Financial Protection Bureau (CFPB) mortgage regulations going into effect in January 2014, and demanding new rules for quality loans, it will be interesting to see what impact this has on overall mortgage defaults.”

Five states – Arizona, California, Florida, New Jersey and New York – occupy space on both the Investigation and Origination MFIs.

Eight states – Alabama, Delaware, Iowa, Kentucky, Louisiana, Pennsylvania, New York and Vermont – rank highly on both Collusion Indicator Indices (CIIs) as areas with high percentages of potential non-arm’s length transaction activity.

Analysis of all loans investigated in 2012 and submitted to MIDEX shows a five-year high of 69 percent of all reports received having some type of application misrepresentation or fraud. Similarly, when focusing on just those loans originated in 2012, 61 percent report application misrepresentation and/or fraud. This is up from 49 percent of loans originated in 2011 and 43 percent in 2010.

For the first time in the study, a nationwide aggregation of available LexisNexis property data was used to determine states most likely suffering from the largest percentage of properties in default. Florida and Nevada experienced the most dramatic decreases in properties in default even though they were ranked first and fourth, respectively, on the list for 2012.




All-cash deals on the rise | Katonah Real Estate

As mortgage rates creep up and stringent lending standards continue to make it difficult for many homebuyers to get loans, all-cash deals are accounting for more and more home sales completed in the U.S.

RealtyTrac data released today shows that 40 percent of all home sales in July — including single-family homes, co-ops, condos and townhomes — were made without a loan being recorded, up from 35 percent in June and 31 percent in July 2012.

A Goldman Sachs Group report released this month estimated that more than half of home sales during the last year and a half were all-cash deals.

OrganizationEstimated percentage of deals that were all-cash in July 2012Estimated percentage of deals that were all-cash in July 2013
Goldman Sachs Group50-plus%55-plus%
National Association of Realtors27%*31%*

Sources: RealtyTracGoldman Sachs Group (PDF)National Association of Realtors *Existing-home sales

Goldman Sachs analysts compared home sales data from the National Association of Realtors and the Census Bureau with data from the Mortgage Bankers Association and Lender Processing Services to come up with that estimate.

NAR’s data, built from monthly surveys of agents, shows all-cash deals made up 31 percent of existing-home sales in July, up 4 percentage points from the same time a year ago. But that estimate is made by calibrating sales with Census Bureau home sales data from 2011 — the last time NAR had enough data to recalibrate estimates — which could account for the some of the difference, NAR spokesman Walt Maloney said.

– See more at: http://www.inman.com/2013/08/29/all-cash-deals-on-the-rise/#sthash.3VWjHkN5.dpuf



All-cash deals on the rise | Inman News.

90 Stories Above Manhattan, This Pad Has a 30′ Waterfall | Waccabuc Real Estate

[All renderings by ODA.]

This apartment, located somewhere 90 stories above Manhattan, is apparently “one of the largest private apartment residences in the United States,” according to the blurb from ODA-Architecture, which handled the apartment’s interiors. We’re not sure exactly when the renovation took place, but we stumbled on it yesterday courtesy of one helpful Curbed tipster, and it’s the kind of apartment that’s worth our attention regardless of timing. The property is 18,000 square feet, with six bedrooms and 12 bathrooms. Then there are the quirkier features, which include a theater and music room, private spa and gym, teahouse, 2,000 bottle wine room, sculpture garden, and 30′ waterfall with reflecting pool. Each of those amenities deserves to be followed by an (!) or two. And the archibabble reveals a little bit more:

With a perimeter of 16′ foot floor- to-ceiling windows, the essence of the apartment is the sculpture garden at its entrance. The garden features a spectacular 30′ water wall and reflecting pool overlooking the famed United Nations headquarters along the East River. This superlative dwelling also features a 75′ expanse of living and dining area along with a Italian kitchen, library, game room, day spa, home theater and professional grade listening room with recording studio.



The ODA listing for the project does not, of course, disclose the apartment’s owner. Our tipster wonders if the apartment in question is the three-unitpenthouse duplex at Trump World Tower, which sold back in 2007 for $33.654 million. The square footage doesn’t quite add up, though—anyone have any insight?
· Private Residence [ODA]
· Trump World Tower coverage [Curbed]



90 Stories Above Manhattan, This Pad Has a 30′ Waterfall – Renovations – Curbed NY.

Living Off the Grid and Thriving! | Katonah NY Homes

Michelle and Cam are living off the grid entirely at Sunflower Farm, their homestead in Eastern Ontario.



More than a decade ago, my wife, Michelle, and I moved from a busy suburban street to 150 acres in the Ontario bush, where our nearest neighbors are three miles away. Ditto for the nearest utility pole. We’d transitioned to living off the grid with little knowledge about renewable energy — or electricity, for that matter — and had to quickly put into practice our home-schooling mantra of “lifelong learning.”

To say that the learning curve was steep is an understatement. Back then, there were no good books on the subject of renewable energy for homes, and the information you could find was pieced together by pioneers who were learning as they went along. Consulting with any local electrician was a waste of time, so we learned by the seat of our pants. Luckily, we developed a network of helpful and skilled friends along the way. We came to realize that the more things we learned to do ourselves, the more independent we would become, which is the theme of the book I’ve just written, Thriving During Challenging Times: The Energy, Food and Financial Independence Handbook.

As we begin to experience the converging challenges of resource depletion, climate change, and the ongoing financial crisis, we need to make ourselves more resilient to shocks to the system.

If you do decide to go off the grid, generating your own electricity from the sun and wind provides an incredible sense of well-being — not only from a sense of independence, but also from the realization that you aren’t using any electricity that comes from coal. Powering your home with renewable energy is a huge step toward reducing your carbon footprint. We started with a fairly small solar-electric system that the previous owners of our home had installed, and we’ve steadily added more panels. As we learned more about peak oil, we were determined to reduce our use of nonrenewable fossil fuels for both cooking and powering our gasoline generator; there are times when there isn’t enough sunlight or wind to charge our off-grid batteries, so we use a fossil fuel-powered generator as a backup.

Wonderful Wind, Super Solar

When we moved in, there was an old wind turbine on a 60-foot tower on our property, but several years ago we decided to replace it with a new Bergey 1-kilowatt turbine on a 100-foot tower. We are surrounded by forests (not optimal for wind generation), so putting up a 100-foot tower set the turbine about 30 feet above the trees to capture some of the stronger winds. We decided to film the installation process and sell a video of it via our publishing company, Aztext. I’m a visual learner, and if I could have watched a video of the process of putting all the pieces of our off-the-grid system together, it would have made our efforts go more smoothly.

The new turbine required us to upgrade our battery bank from a 12-volt to a 24-volt system, so we also upgraded our inverter and added more solar panels. In the previous year, we ran our backup generator about 15 times. In the year after we put up the turbine and added solar panels, we ran the generator just twice. This means that, on many days, we now have extra electricity to use for cooking, offsetting our propane use.

Most people who move off grid just move onto propane, substituting propane for all their major heat loads, such as cooking and heating water. We already heat with wood cut sustainably from our property, so using the electric stove helps reduce our propane use as well.

The biggest drop in our propane consumption came when we installed our solar hot water system. It uses solar energy to heat water we use for washing and bathing, and should offset about 60 percent of water heating costs. For most people, this should be the first solar panel they put on their roof, because the payback is much faster than that of photovoltaics. There’s nothing nicer on a cold winter evening than soaking in a bath with water that was heated all day by the sun. After the system is paid for, there are no additional costs, and there are no carbon dioxide emissions created by the energy that heats the water. It’s an incredible, guilt-free luxury.

Many utilities now offer incentives to integrate renewable energy technologies, and with faster paybacks on your investment, you can take the savings from these systems and pay down debt. This was one of our keys to being able to move where we did. We scrimped, saved, and paid off our old mortgage before we left the city. Financial independence allows you to capitalize on the opportunities that will present themselves in the future.

Read more: http://www.motherearthnews.com/print.aspx?id={47AF2418-0348-4C83-A164-280F2EF9170C}#ixzz2eKFnTFTK



Living Off the Grid and Thriving! – Homesteading and Livestock – MOTHER EARTH NEWS.

How to Achieve Fun, Fame and Fortune Blogging | Cross River Realtor

I don’t know about you but sometimes this blogging gig can be a chore.

Long lonely hours of writing and editing, coming up with the inspiration for the headlines and sitting down to do the work while your friends are out partying. Just getting started is a challenge. What do you want to blog about? Will it work? How do I set up this WordPress technology thing.

Writers block lurks every day. It doesn’t just afflict the beginner but the best. These are some of the challenges that confront us all.

So why should you start and why persist?

Why you should start

When starting, the reasons why are sometimes nothing more than a curiosity driven by a passion for the topic. Sometimes it is the intersection and synergy of multiple motivations. Maybe leave a legacy and learn along the way.

Here are some of the reasons for blogging that I hadn’t really considered when I published for the first time.

Your brand awareness will grow

Open doors to global opportunities

Create business networking opportunities

Position you and your brand as a thought leader and expert

Website will rank higher in search engines

Learn a lot about your business and yourself

Build an online asset that doesn’t sleep

Grow as an individual and as a business

Provide lifestyle freedom

Gain access to free crowd sourced marketing

I am sure there are more but there is something for everyone. Done right it does contain fun, a possible 15 minutes of fame and more and the promise of fortune.

Achieve one of those…then it is worthwhile.

Who has the money?

In looking around it starts to become apparent that there are many ways to make money from new media (blogging). It is not a singular approach but a matrix of multiple opportunities and tactics.

Blogging has evolved rapidly because of the social web and in the past was driven by building email lists which took a lot of time. With the advent of social media their marketing and growth have been supercharged.

Global reach and influence at the speed of a tweet, a Facebook share or a viral video.

To make money from a blog in 2013 you do not have to be a Huffington Post. There are many ways to make a living out of blogging that can enhance your current business and lifestyle that are within everyone’s reach.

Here are 11 different business models in this Slideshare presentation with case studies.


Read more at http://www.jeffbullas.com/2013/06/14/how-to-achieve-fun-fame-and-fortune-blogging/#1FIKyx5R19yMQIzW.99



How to Achieve Fun, Fame and Fortune Blogging | Jeffbullas’s Blog.

Calgary and Edmonton buck national housing market trend of declining sales | Cross River Real Estate

A soft landing is underway in the Canadian housing market and should continue but Calgary and Edmonton are bucking the trend with sales rising compared with a year ago, says a new report released Tuesday by BMO Capital Markets.

The report, by Sal Guatieri, senior economist for BMO, said the Canadian housing market is “calming not crashing.”

“In most regions, sales have fallen at double-digit rates this year from high levels last year,” said Guatieri. “But the rate of decline has slowed recently.

“By contrast, Alberta enjoys decent sales growth.”

As of April, the three month moving average of sales in the existing home market was down 10.9 per cent across the country. However, Calgary and Edmonton were the only two major markets to see growth at three per cent and 1.2 per cent, respectively.

Also, while the average sale price across Canada rose by only 1.0 per cent, Calgary led the nation with a 7.5 per cent hike. Edmonton was up 3.2 per cent.

Guatieri said Calgary’s resale prices are “supported by good valuations, following the 2008 correction, and strong job growth.”

“The upward trend should continue, as Alberta is expected to lead the nation’s economic performance in 2014,” he said.

According to the Calgary RealEstate Board, year-to-date until May 27, there have been 9,541 MLS sales in the city, up 3.89 per cent compared with the same period a year ago. The average sale price has risen by 6.6 per cent while the median price has increased by 5.51 per cent to $399,900.

At the national level. Guatieri said tighter mortgage ruls have slowed credit growth, helping to cool the housing market in an orderly fashion.

“Lack of pent-up demand, with homeownership rates near 70 per cent, and elevated household debt have abetted the slowing,” he said.

“Nationwide, sales are expected to stabilize this year amid steady job growth. Although long-term interest rates are likely to rise moderately next year, they should remain relatively low for some time.”


Calgary and Edmonton buck national housing market trend of declining sales.

Goldman Sachs’ DIY Outlook Hinges on Housing Recovery | Cross River Real Estate

Rising home prices stand to benefit home-improvement retailers, especially Lowe’s, although investors may have to wait until second-quarter results are out before they see meaningful acceleration, Goldman Sachs said in a new research report.

For now, first-quarter strength will likely be shrouded by unfavorable weather comparisons after a much colder-than-normal period following a more-mild-than-usual first quarter of 2012.

Recent economic data point to a sharp uptick in prices with the median price for a home resale rising the most since 2005 and the S&P/Case-Shiller indexshowing the best annual increase for single-family home prices since May 2006.

Play Video
Housing: Bubble Watch With Trulia
Jed Kolko, Trulia chief economist, reveals the results of its latest report on housing and credit, explaining that they found in most of the country, “prices are below “their fundamental value.”

Both of these are correlated to increases in do-it-yourself same-store sales trends, Goldman said. The firm also talked with private remodeling firms in five different markets in the eastern half of the U.S. to gauge the health of the housing environment.

“We heard consistent feedback that reinforces our expectation of strengthening sales in remodeling-oriented categories, and for larger projects,” the report said. “Note that all of these players—like most pros—source only a small part of their materials for big box retailers, but these sales are certainly rising, and to the extent that they are representative of the broader market, they bode well for overall demand.”

Analysts also noted that the ratio of residential improvements to gross domestic product remains lower than its level a year ago, with upside of 10 percent until it returns to its historic average.

Even with these sharp rises, home prices have further room to run, said Jed Kolko, Trulia’s chief economist. Currently, 91 of the 100 largest metro prices remain below their fundamental values, according to the company’s analysis.

“Right now, prices are still actually 7 percent undervalued relative to fundamentals,” he told CNBC’s “Squawk Box.” “That’s even with the big price increases we’ve seen over the past year.”

Citing rising home prices and discussions with remodeling firms, Goldman raised its 12-month price target on Lowe’s to $46 with a “buy” rating and upped its target forHome Depot to $81 with a “neutral” rating. Home Depot, it noted, already has a premium valuation and near-peak margins, while Lowe’s margins are well below its historical peak levels.

A separate report from Oppenheimer was also bullish on the two home-improvement retailers with “outperform” ratings on each. The housing market recovery is likely to propel consumer spending for the foreseeable future, driving both home-improvement sales and home-goods sales, its analysts said.



Goldman Sachs’ DIY Outlook Hinges on Housing Recovery.

Lewisboro – Pound Ridge Real Estate Update | Assemblyman Castelli Reports

Dear Robert,The investigation is, in a sense, already underway.

As of yesterday, we have been advised that Con Ed expects full restoration of power on November 9th.

NYSEG has indicated they expect full restoration of power by November 7th.

Both of those, I am sure you would agree, are unacceptable.

I have been in contact with the management of both NYSEG and Con Ed, to express our displeasure at the inconvenience and danger this poses to our citizens.

Governor Cuomo has indicated as of yesterday that those restoration times may be shorter, but that will be on a town by town basis.  Gasoline has also run short, as a result the Coast Guard has opened the Port of New York again for deliveries and we expect that to take place hopefully sooner rather than later.

However it should be noted that those gasoline stations which do not operate on their own independent generators will not be able to pump gas until their regular power is restored.

This storm has had a catastrophic effect on the northeast and is many times worse than Hurricane Irene and the previous storms we experienced in the last several years.

Bottled water and dry ice will be available through each town and please contact your town police department to find out the times and locations for those distributions.

I have contacted the Governor’s office every day since this has happened in an attempt to get pressure put on Con Ed and NYSEG to expedite our road openings and power restoration.  As a result, our Governor has issued the sternest response and direction to both NYSEG and Con Ed indicating that their performance is unacceptable and falls short of any reasonable expectation for companies of this size.

He has further directed state interagency monitors and the Commissioners of the Public Service Commission to the headquarters of both facilities to personally oversee their performance and stands ready to employ the National Guard to take over for them if they are incapable of doing their own job.

Please understand that we as elected officials and your municipal officials are doing everything in our power to get these public utilities to do their job properly and while we understand that this is a catastrophic incident, their inability to deal with the problem is another example of their incapability of servicing the citizens of New York and will need to be dealt with in the very near future.

We apologize to you for this terrible inconvenience and please know that from the Governor’s office on down, everyone is outraged by the lack of service by both Con Ed and NYSEG, has expressed that outrage to them every day, in no uncertain terms and will continue to push them to do their job properly for the sake of our citizens.

Respectfully yours,

Member of Assembly

P.S. Although both my office and home are currently without power, we are currently able to check my email remotely from the Emergency Operations Centers in each town. As information becomes available, we will update this

Lewisboro NY Parks and Preserves | Lewisboro NY Real Estate

Lewisboro is rich in natural areas and is a component of the biotic corridor. Two Westchester County Parks are on Lewisboro’s borders, and there are 6 town parks and several community preserves.

Ward Pound Ridge Reservation is Westchester County’s largest (4,700 acre) park. In addition to many trails, there are camping facilities and a Trailside Museum. The main entrance is on route 121 in Cross River.

Mountain Lakes Camp is a County park on the northern border of Lewisboro, with beautiful ponds and trails in the forest. The most popular trail leads to Look Out Point which is perched on top of a cliff overlooking Lake Waccabuc,Lake Oscaleta and Lake Rippowam.

Onatru Farm on Elmwood Road is one of Lewisboro’s preëminent parks and includes tennis facilities and playing fields as well as some town offices. This area also includes some walking trails.

The Lewisboro Town Park on Route 35 contains tennis courts, the town pool, ball fields, and outdoor basketball courts. When ice skating is available in winter, a sign is posted. There are also some walking trails in this park that connect to the adjacent Ward Pound Ridge Reservation.

The Leon Levy Preserve was acquired by the town in 2006 as open space. While some trails exist in this 370-acre (1.5 km2) parcel, as of 2008 additional horse and hiking trails are under development and parking is still limited.

The Brownell Preserve is 118 acres (0.48 km2) of forested land given to the town. It has a 2-mile (3.2 km) trail that loops past an overlook of Lake Katonah.

The Old Field Preserve was obtained in 2003, and contains about 100 acres (0.40 km2) of woods, wetlands, and sizable old fields (thus, the name). The meadows will be preserved to support the birds and animals that are dependent upon this increasingly rare habitat.

Fox Valley Park has a variety of sports facilities for the town, including very busy soccer fields, ball fields, and tennis courts.
See Walking Wild Lewisboro for information on park facilities and trail maps.

Lewisboro Homes

Lewisboro Luxury Homes