Tag Archives: Mt Kisco NY Homes for Sale

The Home from ‘Paranormal Activity’ Sold in a Hot Second | Mt Kisco Real Estate

The San Diego home from Paranormal Activity was listed withColdwell Banker on January 21, but it didn’t stay that way for long. The sale history on Zillow shows that the listing was taken down just eight days later. Given what looks like a quick turnaround, it probably went for the full asking price of $749K, if it did indeed sell. In which case, congrats to the new owners on your demon house!

Aside from being the one of the best found-footage horror films ever (let’s all forget the sequels ever happened), Paranormal Activity stood out because the dread was so directly centered on a very average American home. Covering a really extroverted demon’s attempts to reach out to a young couple, it was genuinely scarier to watch at home, and having your significant other with you might have made it even scarier.

Scan the listing photos below, and note that the bed is oriented differently than in it was in the film, affording a greater distance between it and the hallway door.


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8 Ways to Decorate a Center Table | Mt Kisco Real Estate


Whether placed in a grand foyer, tucked in the corner of a compact entry or serving double duty as a reading spot and dining table, you can count on a center table to bring a gracious note to the home. Here are eight ways to decorate this classic piece.

Haunted Houses in New Orleans | Mt Kisco Homes

8 Haunted Houses in New Orleans That Will Scare Your Pants Off


The Hermann-Grima House in New Orleans’s French Quarter is said to be alive with pleasant, friendly Southern ghosts. They’ve been known to scatter scented rose and lavender around the rooms and light the fireplaces to make it cozy. Built in 1831 for prosperous Creoles, it’s now a museum and one of the most significant residences in New Orleans.

Source: Flickr user wallyg

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Mortgage applications decreased last week | Mt Kisco Real Estate

Mortgage applications decreased 0.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending September 26, 2014.
The Market Composite Index, a measure of mortgage loan application volume, decreased 0.2 percent on a seasonally adjusted basis from one week earlier.  On an unadjusted basis, the Index decreased 0.4 percent compared with the previous week.  The Refinance Index decreased 0.3 percent from the previous week.  The seasonally adjusted Purchase Index remained unchanged from one week earlier. The unadjusted Purchase Index decreased 1 percent compared with the previous week and was 11 percent lower than the same week one year ago.  The seasonally adjusted conventional purchase index increased 1.3 percent to the highest level since July 2014.

The refinance share of mortgage activity remained unchanged at 56 percent of total applications from the previous week.  The adjustable-rate mortgage (ARM) share of activity decreased to 7.6 percent of total applications.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) decreased to 4.33 percent from 4.39 percent, with points decreasing to 0.31 from  0.35 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans.  The effective rate decreased from last week.

The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $417,000) decreased to 4.28 percent from 4.30 percent, with points decreasing to 0.15 from 0.22 (including the origination fee) for 80 percent LTV loans.  The effective rate decreased from last week.

The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased to 4.07 percent from 4.08 percent, with points decreasing to 0.04 from 0.09 (including the origination fee) for 80 percent LTV loans.  The effective rate decreased from last week.

The average contract interest rate for 15-year fixed-rate mortgages decreased to 3.55 percent from 3.56 percent, with points remaining unchanged from 0.26 (including the origination fee) for 80 percent LTV loans.  The effective rate decreased from last week.


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For $2M, Buy an Uncompromising Bastion of ’80s Terribleness | Mt Kisco Real Estate

The brokerbabble for this slice of L.A. county real estate calls the structure a “custom neoclassical estate,” but one peek at the listing photos reveals it’s much more likely to be, say, the set of an L.A.-based Wolf of Wall Street and American Psycho crossover. The listing text touts the 4,444-square-foot house’s “historical statues and carvings,” but that’s just scuffing the surface. The foyer is a shiny marbled expanse with no less than 12 white columns and a sculptural centerpiece of one Greco-Roman figure or another. (Mercury? Hard to tell.) There’s also an art gallery, several million-pound crystal chandeliers, bedrooms double dipped in ’70s-ish patterns, and, in the stunning prose of Curbed LA, “four glittery-disco baths.” The six-bedroom listed and re-listed a lot in the last decade (at one time asking as much as $9M!) though now it could all be yours for just $1.995M.



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National Weather Service: Mount Kisco’s Winter Won’t Be So Bad | Mt Kisco Real Estate

Despite several reports of doom and gloom about the upcoming winter, the National Weather Service is forecasting average temperatures and average precipitation for the season.

The National Weather Service is forecasting roughly average temperatures for much of the country with the exception of below average temperatures in southwest Texas and above average highs in the northern great plains and Pacific Northwest.

Precipitation estimates are expected to be around the typical norm as well in the Northeast.

The National Weather Service has also said that predicting long-range weather is far from an exact science. While prevailing weather patterns like El Nino do have an impact on weather trends, the week-to-week shifts play a much larger role and thus make long-range forecasting little more than guess work.

The National Weather Service, does, however, remind residents to be prepared when the snow starts to fall. This is, after all, still the Northeast.


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10 things your landlord won’t tell you | Mt Kisco Real Estate


1. Your real landlord might be Wall Street

The bursting of the housing bubble, and the recession that came with it, have led more Americans to rent rather than own their homes. In the first quarter of this year, 64.8% of American families owned the homes they lived in, the lowest level since 1995—and far from the peak of nearly 69% of households in 2006.

Fewer owners means growing tenant demand for rental property, and that has allowed landlords to raise prices. Apartment rents in the U.S. rose at the fastest pace this year since the Great Recession, according to the property research company Axiometrics, as April occupancy rates reached 94.8%. And for many Americans, the rent is too damn high, at an average of 30% of monthly household income—the highest in 30 years, up from an average of around 25% from 1985 to 2000, according to data from Zillow Z, +0.51%

The housing bubble and its aftermath also created an opportunity for Wall Street, as investment firms used the opportunity to snap up cheap foreclosed homes and build rental empires. Private-equity firms, hedge funds and other institutional investors accounted for nearly 6.5% of single-family home purchases in 2012, according to a recent research note from the Federal Reserve, up from less than 1% in 2004. Read: Apartment rent hikes are slowing — finally.

Those parties now own about 200,000 single family homes nationwide, the investment bank Keefe, Bruyette & Woods estimates. Blackstone Group BX, -1.66% which Bloomberg News estimates is now the largest single-family landlord in the U.S., owns about 43,000 rental homes across the country, from Phoenix to Tampa, through a subsidiary called Invitation Homes

What’s it like when Wall Street is your landlord?

“They handle you beautifully from the door but once you get in the house, all hell breaks out,” says Chanda Mason, who moved into a three-bedroom, two-bath rental from Invitation Homes in Dallas, Ga., outside Atlanta, last July. She says she was greeted by moldy oven racks and a giant crack in the driveway, where her van got stuck each time she tried to drive in or pull out. Mason is one of a vocal group of Invitation Homes tenants who have complained about maintenance. When Mason complained, the corporate offices would “glaze over the situation and get me out of their face,” she says. “When it comes to getting something fixed, good luck. You’re going to have an issue,” she adds, noting that she will not renew her lease when it expires in July.

Invitation Homes spokesman Andrew Gallina says the company takes complaints and requests seriously, and that residents of a sprawling network of houses all hold different expectations. Invitation Homes has 1,600 employees in 35 field offices to handle tenant issues and offers a 24-hour emergency hotline, he says. Tenants can submit maintenance requests online, which enter a database that tracks when calls are put in, the average response and completion time for different types of work and homes’ repair histories. “We’ve invested in state of the art technology, which your average mom and pop landlord will not,” Gallina says.

Still, some commentators worry about whether any entity, high-tech or not, can do a good job managing a big, far-flung portfolio. These investors “may pose risks to local housing markets if investors have difficulties managing such large stocks of rental properties or fail to adequately maintain their homes,” potentially lowering the quality of neighborhoods, or even pushing prices down, the Federal Reserve note says.


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London housing market put into reverse gear by surge in supply | Mt Kisco Real Estate

The number of new houses being put up for sale in London is increasing at a rate more than three times the national average as homeowners look to cash in on the surge in property values in the capital.

Meanwhile, demand for housing is rising much faster outside of London than in the capital, where the market has cooled significantly, according to new research.

The figures, published by the estate agents network Sequence, suggests that London has shifted from a seller’s market to one that is increasingly favouring buyers in recent months, while the opposite is true in the regions.

In the UK overall, buyer registrations rose 21pc in the year to July, three times faster than the 7pc increase in properties put on the market. In comparison, there was a 7pc increase in potential buyers and 25pc more houses put up for sale in London.


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NYC residential construction jumps 50% | Mt Kisco Real Estate


Residential construction in the city is expected to rise 50% this year, most of the apartments created will be for the wealthy.Photo: Katrina Samuelson

Spending on residential construction is poised to hit a new record high this year of $10.2 billion, up 50% from 2013, according to a report released Wednesday by the New York Building Congress. Last year’s total was $6.8 billion. The bad news is the steep run up in spending will actually yield fewer units—20,000—than the 30,000 per annum pace that was hit several times in the last real estate cycle. The difference is that this year there will be far more money spent on luxury properties designed for wealthy residents or investors.

“While the luxury residential market is booming in Manhattan and in parts of Brooklyn and Queens, we have our work cut out for us in terms of achieving Mayor [Bill] de Blasio’s plan to create or preserve 200,000 units of affordable housing over the next decade,” Richard Anderson, president of the congress, said in a statement.

While a rise in construction costs also contributed to the decline in the number of new residential units built compared to the last boom, New York City is also trailing behind most other growing cities in terms of the percent change in total housing units between 2000 and 2012, according to a policy brief recently released by the Citizens Budget Commission. In fact, with a gain of under 10% in that 12-year span, the Big Apple came in 19th out of 22 large cities in the country.

But regardless, the current boom in residential construction has created thousands of new construction industry jobs and increased economic activity and tax revenues, Mr. Anderson noted. In fact, the Building Congress report predicts that the residential sector will single-handedly lift total construction spending across all sectors by 10% this year over last year’s level.


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‘I was right, the housing recovery was a sham’: The Guardian’s Heidi Moore | Mt Kisco Real Estate


The housing market appears to be hurting. Last week we learned that sales of new homes plunged 14.5% in March compared to February, while sales of existing homes fell slightly month-to-month, too. Meanwhile, demand for home loans have hit a 14-year low in the first quarter, according to industry newsletter Inside Mortgage Finance.

But today the National Association of Realtors reported that pending home sales in March rose for the first time in nine months. They were up 3.4% from February, but down 7.9% from a year ago.

Heidi Moore, U.S. finance and economics editor at The Guardian, called the housing recovery a sham last June and in the video above says the latest run of weak data suggests the same concerns she raised when the recovery was humming along last summer. Moore says the recent slowdown reveals the recovery was in fact “dubious” and based on investor demand versus real homebuyers.

Others blame this year’s unseasonably cold weather along with higher mortgage rates for the slow start to the spring selling season. “Weather has been blamed for a lot, and it’s true it has some role, but there are so many other metrics that go in the direction of real trouble,” says Moore. “People haven’t been able to borrow for a mortgage for years — that has nothing to do with the weather, I promise you.” The same goes for issues like rising prices and low supply, she adds.

When it comes to the impact of these real estate conditions more broadly, Neil Irwin argues in the New York Times’ Upshot that the housing market is still stalling the economy. He points out that investment in residential property remains a smaller share of the overall economy than at any time since World War II, contributing less to growth than in past downturns, including the early 1980s when mortgage rates were 20% (compared to 4.5% currently).

Irwin argues if more people were buying homes and building returned to its postwar average as a share of the economy, growth would jump to 4% and about 1.5 million more jobs would be created. He says the main factor holding housing back is demand: Fewer people can or want to start a household of their own.

In Moore’s view, it’s the other way around: It’s the economy that’s slowing the housing market. Factors including stagnant wages, high unemployment and high household and student loan debt are reasons why people aren’t able to buy houses, says Moore. In other words, because the economy is stuck, the housing market is too.


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