Tag Archives: Mt Kisco Homes for Sale

Down to Earth Farmers Markets | Mt Kisco Real Estate

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Fresh Food from Local Sources – August 29th-September 4th, 2013 Down to Earth Markets
PlumsonTree
What’s New and in Season This Week
**Any 3 items for $20!** Pika’s Farm Table Apples Taliaferro Farm Butternut Squash Rexcroft Farm Cut Flowers Locust Grove Fruit Farm
Dandelion Greens John D. Madura Farms
Donut Peaches Migliorelli Farm                                     Rexcroft Farm
Eggplant Varieties John D. Madura Farms                                     Migliorelli Farm                                     Rexcroft Farm Haricot Verts Taliaferro Farms Heirloom Tomatoes Alex’s Tomato Farm                                     Migliorelli Farm                                     Rexcroft Farm                                     Rockland Farm Alliance
Melons Alex’s Tomato Farm Plums Alex’s Tomato Farm                                     Mead Orchards                                     Migliorelli Farm Sweet Peppers Migliorelli Farm
Yellow Watermelon Migliorelli Farm Zestar! Apples Alex’s Tomato Farm                                     Mead Orchards                                     Migliorelli Farm
Click on a Market to see all vendor and event details…

Westchester                                     County     Ossining
Saturdays, 8:30 am-1:00 pm		Rockland                                     County
Croton
Sundays, 9:00 am-2:00 pm
Rye
Sundays, 8:30 am-2:00 pm 		Piermont
Sundays, 9:30 am-3:00 pm
L Larchmont
Saturdays, 8:30 am-1:00 pm
 Tarrytown/Sleepy Hollow
Patriot’s Park Farmers Market                                     Saturdays, 8:30 am-1:00 pm
Spring Valley
Wednesdays,                                      8:30 am-3:00 pm
New Rochelle
Now at Huguenot Park!                                     Fridays, 8:30 am-2:30 pm 		Yonkers/Ridge Hill
Ridge Hill’s Farmers Market                                     Fridays, 11 am-7:00 pm 		Headed to the city soon? Visit a Down to Earth Farmers Market in NYC!
Announcements
Tarrytown
This Saturday local guitarist Glenn Roth will play acoustic tunes at the market from 10 am to noon. His music adds a lovely ambiance to your beautiful market!   Stay tuned to all market happenings via our Down to Earth Markets Facebook page                           and follow us on Twitter @DowntoEarthMkts.                                                
Farmers Market Bounty for NOFA-NY Locavore Challenge
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Recognize this cast of characters? The Down to Earth Markets crew enjoys                                     Locavore Dinner at Little Seeds Gardens                                     September 2012

Investors place their bets on luxury homes | Mt Kisco Real Estate

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Recently, there has been a surge in high-end and luxury property flipping nationwide.

Beginning in 2011, flips of homes valued at $1 million or more have risen nearly 40% across the U.S., according to RealtyTrac.

Between 2011 and 2012, high-end flipping soared 456 percent in Phoenix (150 properties from 27); 867 percent in Orlando (29 homes from 3); and to 73 properties from 10 in Las Vegas.

                    Source: Reuters

Commercial real estate key to Las Vegas economic rebound | Mt Kisco Real Estate

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As someone who has spent most of his adult life working in commercial real estate in Southern Nevada, I often find myself explaining to others why they should care about my industry. The short answer is that as commercial real estate goes, so goes the overall economy.

We all know the Great Recession hit Las Vegas harder than most places. And few industries felt more of this pain than commercial real estate. For proof, look no farther than the nearest half-finished shopping center or office building.

Recent reports suggest we might finally be seeing some light at the end of this tunnel. According to the National Association of Realtors, the market is starting to improve nationwide, and commercial real estate professionals are regaining confidence.

Most members of the Commercial Alliance Las Vegas seem to share that sentiment.

NAR recently released its 2013 Commercial Member Profile. It shows that annual income, transactions and sales volume have all increased over the past year for commercial real estate professionals. NAR members who practice commercial real estate reported a median annual gross income of more than $90,000 in 2012. This is the highest level since 2008 and is more than $4,000 above the 2011 figure.

NAR Chief Economist Lawrence Yun recently pointed out that vacancy rates are falling and commercial rents are gradually rising nationwide.

As with the housing market and other areas of the economy, Las Vegas has lagged the rest of the country in bouncing back from the recession. But fortunately for those of us who make our living in this industry, we’re starting to see some bright spots here, too.

Vacancy rates for office space are still hovering around record levels. For example, as of March 31, CB Richard Ellis reported the vacancy rate for Class A office space in the Las Vegas area was 29.4 percent. But even the local office market is showing signs that it has hit bottom and is on the road to recovery.

One example of this gradual rebound came in early July, when it was reported that the stalled mixed-use project formerly known as Manhattan West is being finished by new owner the Krausz Cos. Inc., which is calling it The Gramercy. The company spent $20 million in June to buy the 20-acre project in the southwestern part of town, announcing that it plans to spend an additional $30 million to finish its office, residential and retail components. As with the announcement that construction would resume on the previously stalled Shops at Summerlin shopping mall, this is a great sign for our local industry and economy.

As NAR points out, commercial real estate is the basis for much of the growth in the American real estate industry and economy. This is especially true in Southern Nevada, where real estate has traditionally trailed only the gaming and tourism industries in economic impact. Any improvement in commercial real estate will provide a much-needed boost to our overall economy.

We’re not out of the woods yet. Remaining hurdles on the road to recovery include too many commercial real estate projects still struggling to find financing.

According to NAR’s Commercial Real Estate 2013 Lending Survey, members reported a significant disadvantage when it came to financing for buyers of properties under $2 million, which makes up 85 percent of all commercial clients NAR members handle. These small business are typically financed by private investors or local and regional banks. Fifty-two percent of commercial members reported they had commercial transactions fail in the past year due to a lack of financing. We’ve seen our share of that here, too

 

 

Read more…

http://www.reviewjournal.com/opinion/commercial-real-estate-key-las-vegas-economic-rebound

 

Forget Lowballing: Bidding Wars Return in Hot Housing Markets | Mt Kisco Real Estate

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Are buyers being manipulated into overbidding for the relatively few attractive homes on the market?
Earlier this year, the National Association of Realtors (NAR) announced that the number of homes for sale in the U.S. had reached a low not seen since 1999. More homes have hit the market since then, but Lawrence Yun, NAR’s chief economist, said in March that in many areas around the nation, the inventory of homes for sale is unlikely to keep up with the number of interested buyers.
“Buyer traffic is 40% above a year ago, so there is plenty of demand but insufficient inventory to improve sales more strongly. We’ve transitioned into a seller’s market in much of the country,” said Yun. “We expect a seasonal rise of inventory this spring, but it may be insufficient to avoid more frequent incidences of multiple bidding and faster-than-normal price growth.
Bidding wars have been commonplace in Connecticut this spring, especially for mid-range properties ($300K to $600K), reports the Hartford Courant. Buyers are reportedly frustrated by “the slow trickle of new listings,” and “they are ready to pounce,” according to a local realtor, when an attractive property in their price range comes onto the market.
Bidding wars have also been popping up in cities such as Denver, where half of new homes on the market have been selling in under 30 days. CNN Money recently noted that nine in 10 homes in hot markets in northern and southern California have attracted bidding wars, as have at least two-thirds of properties in Boston, New York City, Seattle, and Washington, D.C. “The only question is not whether a new listing will get multiple bids but how many it will get,” one agent in the Sacramento area explained.

 

Forget Lowballing: Bidding Wars Return in Hot Housing Markets | Mt Kisco Real Estate | Bedford NY Real Estate | Robert Paul Talks Life in Bedford NY.

Housing Crash Fades as Defaults Decline to 2007 Levels | Mt Kisco Real Estate

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First-time delinquent home loans fell to 0.84 percent of the 50.2 million mortgages in March, the first month below 1 percent since 2007, before a wave of defaults led to the financial crisis, according to a report today by Lender Processing Services Inc. The rate of first-time defaults, defined as loans that went from performing to at least 60 days delinquent, peaked at 2.89 percent in January 2009.

The decline in new problem loans shows that the recovering U.S. economy, falling unemployment and rising home prices, combined with more than four years of banks’ tightening lending standards, are propelling the worst real estate crash since the Great Depression into the rearview mirror.

“Mortgage quality is improving rapidly,” Mark Zandi, chief economist for Moody’s Analytics Inc. said in a telephone interview from his office in West Chester, Pennsylvania. “Once we’re able to work through this last bulge of foreclosed property, which I think we’ll be able to do over the next 18 to 24 months, mortgage credit quality is going to look absolutely beautiful.”

Mortgages at least 30 days delinquent or in some stage offoreclosure fell to 5 million in March, down from a peak of 7.7 million in January 2010, according to Lender Processing Services, a real estate information service based in Jacksonville, Florida. That’s still more than double the 2.2 million non-current mortgages of January 2005, when the housing market was rising toward its peak.

Lending Standards

Tight lending standards have made it harder for borrowers to obtain mortgages, helping drive down default rates while reducing the homeownership rate in the first quarter to 65 percent, the lowest since 1995.

The Federal Housing Administration, which offers loans to buyers with downpayments as low as 3.5 percent, has steadily raised its credit scores. In the third quarter of 2012, the most recent available, 97 percent of FHA borrowers had credit scores above 620 of a possible 850. In the last quarter of 2006, only 53 percent had a score above 620.

 

 

http://www.bloomberg.com/news

Mortgage Rates are near record lows. How do they affect buyers qualified to buy a home? | Mt Kisco NY Real Estate

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  • In a previous post, we examined the impact of mortgage rates and house prices on the number of renters qualified to buy to show that lower mortgage rates, rising incomes and changes in house prices have affected the number of renters who could qualify to purchase a median-priced home over time.
  • In this post, we look at the impact of mortgage rates ceteris paribus, a latin term used in economics that means “holding everything else constant.” In this case, we’re going to use the same income distribution, home price, and down payment requirement, but we’re going to change the mortgage rates to see what happens to the number of renter households who qualify to purchase the median priced home.
  • The table below shows the results of our thought experiment. While 20 million renter households qualify based on income to purchase the median-priced home in 2012 at prevailing mortgage rates, that figure would decline if interest rates were to rise.
  • If rates were to return to 5 percent, only 17.6 million renter households would have income sufficient to qualify to purchase the median-priced existing home. A rate increase to 7 percent causes increased monthly payments of $280 per month, and an additional $13,400 is needed to qualify to purchase this home. That type of rate increase would knock nearly 6 million currently qualified renter-households out of the market

  • What is the likelihood of increasing mortgage rates? In our current forecast, NAR Research expects mortgage rates to begin to creep up but still remain below 5 percent through the 2014 forecast horizon. Mortgage rates bottomed in November/December 2012 at 3.4 percent for 30-year fixed-rate mortgages. Over the most recent 15 years, rates have ranged from 3.4 to 8.5 percent and averaged 6 percent as seen in the chart below.

  • One note about the above calculations. They assume that potential buyers meet credit qualifications and have sufficient cash on hand to close a transaction. Lending standards, credit quality, and access to funds will affect the number of households who will ultimately be able to buy a home.

 

http://economistsoutlook.blogs.realtor.org/2013/04/29

Property Wars star says Phoenix’s housing market is booming | Mt Kisco NY Real Estate

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Some good news for the Phoenix housing market. A new report from Standard and Poor’s shows home prices here the valley have skyrocketed in the past year.

They’re up 23 percent — and that’s the biggest gain in the country.

Investors are a big part of that, accounting for 28-percent of the sales in March. And this new data comes on the same day that another report shows that foreclosure rates in Phoenix are among the lowest in the country.

With home values skyrocketing, are these signs of another housing bubble? We spoke to one of the stars of Property Wars. The hit reality show is focused on the Phoenix real estate market.

Doug Hopkins doesn’t just star on the cable show Property Wars — he owns Red Brick Realty in the east valley and he’s been in real estate since 1994.

He likes the way the market looks right now. He says factors like weather, the ages of homes, and the supply of foreclosed houses has attracted investors and improved our housing market.

In his second season on the Discovery Channel’s Property Wars, you can find Doug Hopkins taking huge risks and making big money.

And this valley native, with 20 years of experience in the valley, says the market is great.

“The housing market is hot hot hot. Basically everything we put on the market is selling, especially if it’s priced right, its selling in less than 3 days.”

It sounds like we’re heading for another housing bubble — but Hopkins believes the situation is much different than it was last decade

via myfoxphoenix.com

Don’t underestimate the impact of housing market on economy | Mt Kisco NY Homes

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When real estate is discussed, the conversation most often turns to the number of homes sold, the median price in the area, available inventory or pending sales. All of those items and the trends they represent are important, but rarely does anyone take a look at the overall impact of the real estate market on the economy.

Economic development efforts sometimes overlook the key impact of the housing market.

Let’s take a look at the economic impact of single-family homes in Greater Nashville just so far this year (not even including condominiums) using the number of closings and median prices already reported. Based on the number of homes sold in the first quarter, at the median price reported in each of the first three months of this year, there have been more than $825 million in residential real estate sales in the Greater Nashville area.

In addition to that, whenever someone purchases a home, there is a significant amount of money put into the economy through the add-on purchases such as appliances, furniture, flooring, cabinetry, lighting, window treatments, landscaping, lawn service and much more.

via tennessean.com