Tag Archives: Mount Kisco Real Estate

Mount Kisco Diner Begins Expansion | Mount Kisco Real Estate

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The Mount Kisco Coach Diner, Gov. Andrew Cuomo’s favorite hangout, has begun construction on its expansion.

The diner is adding 1,250 square feet and 13 new parking spaces, along with providing a terrace for outdoor seating.

The project was approved by the planning board earlier this year after the Mount Kisco Village Board approved a zoning change in 2010.

Recently, the Paul Power’s structure, which exists south of the diner, was demolished, which was the first phase of construction.

Harry Georgiou, whose family owns the diner, said it will be much larger and more convenient for customers.

“We wanted to provide more space for clients and a nicer atmosphere,” Georgiou said. “We wanted to modernize the restaurant. It was time to expand.”

Plans for expansion have been in the works for five years. During that time, despite the recession, the diner’s business has remained steady, giving Georgiou confidence expansion was the right idea.

Georgiou’s father, Frank, a Somers resident, purchased the diner 18 years ago. Harry Georgiou, who lives in Queens, said it is in the family’s blood to provide service, hospitality, and good food.

 

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http://chappaqua.dailyvoice.com/business/mount-kisco-diner-begins-expansion

 

California Markets Top Turnaround Towns | Mt Kisco Real Estate

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Oakland, Calif.; Orange County, Calif.; and Santa Barbara-Santa Maria-Lompoc are leading the nation in recovery according to realtor.com’s quarterly ranking of top turnaround towns.

For Q2 2013, the median age of inventory dropped 14.4 percent over the past year, with typical homes selling in 83 days between April and June of this year. Median list price rose 5.4 percent year-over-year, to $196,000, in the second quarter of 2013.  The number of homes available on the market dropped across the country by 10.3 percent year-over-year, with an average of 1.8 million homes on the market on any given day in the second quarter of 2013.

Detroit ranked seventh.  Though plagued by the city’s recent bankruptcy filing, the market nonetheless posted strong improvement in the second quarter. Its median list prices on realtor.com® are 37.8 percent higher for the quarter than they were a year ago, while inventories are down 26.5 percent. The market’s median age of inventory is just 45 days, down 25 percent from the second quarter in 2012.

“Detroit has made remarkable progress in the last year, shrinking its inventory of unsold homes by more than 26 percent and becoming one of the most balanced markets in the nation,” said Steve Berkowitz, CEO of Move. ”We’ll be watching the inventory levels in the months ahead, but if this past quarter is any indication, Detroit won’t be giving up without a fight.”

Q2 2013 Rank

Market

Qtrly

Year/Year Median List Price

Qtrly

Year/Year Median Age of Inventory

Qtrly Year/Year Inventory

1

Oakland, Calif.

41.3%

-53.1%

-34.4%

2

Orange County, Calif.

29.4%

-43.3%

-36.6%

3

Santa Barbara-Santa   Maria-Lompoc, Calif.

34.3%

-30.9%

-27.8%

4

San Jose, Calif.

25.0%

-64.0%

-35.4%

5

Seattle-Bellevue-Everett,   Wash.

17.2%

-55.8%

-29.9%

6

Los Angeles-Long   Beach, Calif.

30.3%

-27.2%

-28.9%

7

Detroit, Mich.

37.8%

-25.0%

-26.5%

8

Portland-Vancouver,   Ore.

12.0%

-45.8%

-23.5%

9

San Diego, Calif.

21.1%

-26.4%

-28.5%

10

Reno, Nev.

26.0%

-32.3%

-29.1%

Top Five Turnaround Towns

#1 – Oakland, Calif.: Oakland has been well on the path to recovery for more than a year. In the second quarter of 2013, listings in the Oakland market fell more than 34 percent from year-ago levels. Oakland led the nation in year-over-year list price increases in the second quarter of 2013 and houses in Oakland are staying listed on realtor.com® for only 15 days, which is the youngest inventory in the nation. The median list house price in Oakland has risen from $339,000 a year ago to $479,000 in the second quarter of 2013.

#2 – Orange County, Calif.: With record numbers of foreclosures just four years ago, home prices inOrange County rose 29.4 percent above year-ago levels. In the second quarter of this year, Orange Countyhad the fastest declining inventory in the nation, with listings on realtor.com® down 36.6 percent. The median age of Orange County homes on realtor.com® in the second quarter of 2013 was 51 days, far below the national median of 83 days and 43.3 percent lower than a year ago.

#3 – Santa Barbara-Santa Maria-Lompoc, Calif.: Santa Barbara’s strong prices catapulted it into third place on the list. In the second quarter of 2013, this market’s median price was up 34.3 percent over a year ago to $685,000. Though Santa Barbara inventories were still extraordinarily low – down 27.8 percent from the second quarter of 2012 – they have started to recover. The average time that Santa Barbaralistings spend on realtor.com® (56 days) dropped 30.9 percent from the second quarter of 2012.

#4 – San Jose, Calif.: Inventories in San Jose dropped 35.4 percent compared to the second quarter of 2012, the second-largest drop in the nation. Year-over-year San Jose prices were up exactly 25 percent in the second quarter of 2013, another sign that the market is returning to normal after a combination of historically low inventories and strong demand powered prices in San Jose and several other Northern California cities to huge increases.

 

 

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http://www.realestateeconomywatch.com/2013/08/california-markets-top-turnaround-towns/

More Consumers Expect Rates to Rise | Mt Kisco Real Estate

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The share of consumers who believe interest rates will go up over the next year increased another 5 percentage points to 62 percent, the highest level in the three-year history of Fannie Mae’s July 2013 National Housing Survey. Consumers also expect home prices to climb 3.9 percent on average over the next 12 months, holding steady from the May and June survey results. At the same time, the share of respondents who say it is a good time to buy a house increased to 74 percent, while the share who say it’s a good time to sell a house increased to 40 percent, matching the survey high. “Consumers have taken the interest rate rise in stride. Expectations for continued improvement in housing persist, and sentiment toward the current buying and selling environment is back on track from its dip last month,” said Doug Duncan, senior vice president and chief economist at Fannie Mae. “These results are consistent with our own analysis of previous housing cycles, which finds that interest rates and home prices are not strongly correlated.” Homeownership and Renting

At 3.9 percent, the average 12-month home price change expectation increased slightly to match May 2013’s survey high. The share of people who say home prices will go up in the next 12 months fell 4 percentage points from June’s survey high to 53 percent, while those who say home prices will go down reached a survey low of 6 percent. The share of respondents who say mortgage rates will go up in the next 12 months jumped 5 percentage points to 62 percent, the highest level since the survey’s inception. The share who say it is a good time to buy a house increased slightly to 74 percent, and those who say it is a good time to sell a house increased 4 percentage points to 40 percent. The average 12-month rental price expectation fell to 4.2 percent, a 0.4 percent decrease from last month.

Fifty-four percent of those surveyed say home rental prices will go up in the next 12 months, a 2 percentage point decrease from June’s survey high.  Forty-five percent of respondents think it would be easy for them to get a home mortgage today, a 2 percentage point decrease from last month.  The share of respondents who said they would buy if they were going to move decreased slightly to 64 percent.

 

 

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http://www.realestateeconomywatch.com/2013/08/more-consumers-expect-rates-to-rise/

Small Dog’s Death Raises Concern About Coyotes | Mount Kisco Homes

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Concerns about a coyote invasion in Westchester County have been heightened since the animals attacked and killed one woman’s beloved dog.

As CBS 2’s Tracee Carrasco reported Monday night, a tiny backyard memorial has been set up for the small dog that lost her life to three vicious members of her own taxonomic genus.

“She was a Chihuahua-terrier mix, about 7 pounds; full of heart,” said Kristin Porteus.

But the tiny pup, Roxy, was no match for a pack of three coyotes last Friday morning.

Like any other day, Porteus let her three dogs into the backyard of her Mount Kisco home in Westchester County. But on this particular day, there were three coyotes right there waiting.

“Right around here, I saw a lot of commotion and Roxy was barking, and I saw two coyotes come,” Porteus said.

Two of Porteus’ small dogs were able to escape as she chased the coyotes out of her backyard. But Roxy could not get away.

Now, Porteus and other Mount Kisco residents have become worried that the brazen animals are becoming more aggressive. They are afraid the animals may attack a child next.

 

 

 

Small Dog’s Death Raises Concern About Coyotes In Westchester County « CBS New York.

HUD Report Questions Westchester Zoning Laws | Mt. Kisco Real Estate

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Seven Westchester municipalities have been accused in a U.S. Department of Housing and Urban Development report of having zoning laws that keep out and segregate low-income families.

Croton-on-Hudson, Harrison, Lewisboro, the Town of Mamaroneck, the Town of Ossining, Pelham Manor and Pound Ridge were the seven municipalities named in the report recently released from Housing Monitor James Johnson. Johnson is trying to ensure that Westchester County meets the terms of a 2009 anti-discrimination housing settlement that requires the county to build 750 units of affordable housing by 2016, according to a news release.

Johnson said the towns lack zoning laws that provide incentives for or mandate affordable housing.

“Our work made clear (that) seven municipalities did not meet the first standard. I believe more data is required before one can conclude on the second,” Johnson said.

The county settled the anti-discrimination suit with HUD in 2009, but the two sides have butted heads since County Executive Robert Astorino took office in 2010. HUD is threatening to withhold $20 million in federal grants for nonprofits if the county does not meet HUD’s terms.

Ned McCormack, communications director and senior adviser to Astorino rejected the HUD report.

“The county’s comprehensive analysis in eight submissions to HUD – running to thousands of pages of documentation – found no evidence of any exclusionary zoning,” McCormack said in a statement.  “The county executive once again demands that HUD release the $17 million it is arbitrarily withholding from our local communities. There is no reason for HUD to continue to hold this money hostage, which is designed to help our neediest residents.”

 

 

HUD Report Questions Westchester Zoning Laws | The Mt. Kisco Daily Voice.

Mount Kisco Police Issue Alert after Coyotes Kill Pet Dog | Mt. Kisco Real Estate

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A coyote attack on three dogs on Friday prompted police to issue an alert urging residents to be vigilant about monitoring their children and pets outside.

Around 7 a.m. three coyotes descended on Kristin Porteus’ three small Chihuahua terrier mixes at her  Langeland Drive home, killing one of them despite Porteus’ efforts to prevent the attack, according to a report in The Journal News.

Mount Kisco police sent out an online alert Saturday night about the coyote attack. A coyote also was sighted Friday evening in northeast Mount Kisco. The  incidents are the latest in a string of confrontations with coyotes.

Read the full Journal News article here.

 

 

Mount Kisco Police Issue Alert after Coyotes Kill Pet Dog | The Mt. Kisco Daily Voice.

Commercial real estate development surge expected in California | Mt Kisco Real Estate

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As the economy improves, commercial real estate industry leaders are increasingly optimistic about a surge in the California market over the next three years or so, a new report said.

Experts said they expect the nonresidential market will keep growing steadily for the next three years but start to slow after 2016 or 2017. There will still be growth, the report said, but at a slower rate.

 

 

Commercial real estate development surge expected in California – Los Angeles Times.

April Case-Shiller Prices Broke Records for Monthly Gains | Mt Kisco Real Estate

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Home prices rose to 2004 levels in the S&P Case-Shiller Indices for April as the10- and 20-City Composites posted their highest monthly gains in the history of S&P/Case-Shiller.

Data through April 2013 released today showed average home prices increased 11.6 percent and 12.1 percent for the 10- and 20-City Composites in the 12 months ending in April 2013. From March to April, the 10- and 20-City Composites rose 2.6% and 2.5 percent.

All 20 cities and both Composites showed positive year-over-year returns for at least the fourth consecutive month. Atlanta, Dallas, Detroit and Minneapolis posted their highest annual gains since the start of their respective indices. On a monthly basis, all cities with the exception of Detroit posted positive change.

The chart above depicts the annual returns of the 10-City Composite and the 20-City Composite Home Price Indices. In April 2013, the 10- and 20-City Composites posted annual increases of 11.6% and 12.1%, respectively.

“The recovery is definitely broad based. The two Composites showed the largest year-over-year gains in seven years. Atlanta, Las Vegas, Phoenix and San Francisco posted year-over-year gains of over 20% in April. San Francisco was the highest at 23.9%. Phoenix posted 12 consecutive months of double-digit growth. Recent economic data on home sales and inventories confirm the housing recovery’s strength,” David M. Blitzer, Chairman of the Index Committee at S&P Dow Jones Indices.

“Last week’s comments from the Fed and the resulting sharp increase in Treasury yields sparked fears that rising mortgage rates will damage the housing rebound. Home buyers have survived rising mortgage rates in the past, often by shifting from fixed rate to adjustable rate loans. In the housing boom, bust and recovery, banks’ credit quality standards were more important than the level of mortgage rates. The most recent Fed Senior Loan Officer Opinion Survey shows that some banks are easing credit restrictions. Given this, the recovery should continue,” Blitzer said.

For the month of April, 19 of the 20 cities showed positive returns; Detroit was the only MSA to remain flat. Compared to March 2013, thirteen cities showed improvement with Minneapolis showing the largest change with a gain of 2.9% compared to its March return of -1.1%. California is seeing impressive returns all around with gains ranging from 3.4% to 4.9%. Los Angeles, San Diego and San Francisco posted their highest gains since 2004, 1988 and 1987, respectively. Looking at the east coast, Miami showed its largest return, 2.4%, in seven and a half years.

All 20 cities showed increases over their levels from 12 months ago. Twelve MSAs – Atlanta, Detroit, Las Vegas, Los Angeles, Miami, Minneapolis, Phoenix, Portland, San Diego, San Francisco, Seattle and Tampa – continued to show double-digit annual gains. Out of these 12 MSAs, Phoenix and Tampa were the only cities to show year-over-year deceleration.

The table below summarizes the results for April 2013. The S&P/Case-Shiller Home Price Indices are revised for the 24 prior months, based on the receipt of additional source data.

Since its launch in early 2006, the S&P/Case-Shiller Home Price Indices have published, and the markets have followed and reported on, the non-seasonally adjusted data set used in the headline indices. For analytical purposes, S&P Dow Jones Indices publishes a seasonally adjusted data set covered in the headline indices, as well as for the 17 of 20 markets with tiered price indices and the five condo markets that are tracked.

 

April Case-Shiller Prices Broke Records for Monthly Gains | RealEstateEconomyWatch.com.

Many Mt. Kisco Village Tax Bills Have Been Lost In the Mail | Mt. Kisco Homes

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MT. KISCO, N.Y. — The following is an advisory from Mt. Kisco regarding your tax bill.

ALL 2013 VILLAGE TAX BILLS THAT WERE MAILED OUT ON MAY 31, 2013 HAVE BEEN LOST BY THE WHITE PLAINS REGIONAL PROCESSING CENTER OF THE UNITED STATES POSTAL SERVICE. WE ARE IN THE PROCESS OF SENDING OUT A DUPLICATE BILLING TO ALL PROPERTY OWNERS BY TUESDAY, JUNE 11, 2013.

HOWEVER, NYS REAL PROPERTY TAX LAW WILL NOT ALLOW ME OR ANY OTHER VILLAGE OFFICIAL TO WAIVE ANY PENALTY. ALL VILLAGE TAX BILLS ARE STILL DUE BY JULY 1, 2013, WITHOUT PENALTY.

PLEASE KNOW, AS ALWAYS, YOU ARE WELCOME TO PAY YOUR BILL IN PERSON AND WILL RECEIVE A COPY OF YOUR TAX BILL AT THAT TIME IF THAT IS MORE CONVENIENT FOR YOU.

WE APOLOGIZE FOR ANY INCONVENIENCE THIS HAS CAUSED YOU. PLEASE BE ASSURED THAT THE VILLAGE HAS COMMENCED AN INVESIGATION WITH THE POSTAL SERVICE AND HAVE ALREADY BEEN ASSURED THAT ANY AND ALL ADDITIONAL COSTS WILL BE PAID FOR BY THE U.S. POSTAL SERVICE.

Joann F. Cerretani
Receiver of Taxes
Village/Town of Mount Kisco
104 Main Street
Mount Kisco, New York 10549
(914) 864-0034

 

Many Mt. Kisco Village Tax Bills Have Been Lost In the Mail | The Mt. Kisco Daily Voice.

Rising prices widen homeownership availability gap | Mount Kisco Real Estate

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Across all 100 metros, less affordable markets tend to have high price gains. The correlation between the year-over-year price gain and the mortgage-payment-versus-wage measure is 0.3 (statistically significant at the 5% level). That means that homeownership affordability is becoming more unequal across the U.S. — the gap between more affordable and less affordable markets is growing. To see what this growing gap means for the housing market, read the full blog post byTrulia.

 

Rising prices widen homeownership availability gap | HousingWire.