Tag Archives: Mt Kisco

How smart photos will change real estate | Mount Kisco Real Estate

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Everything around us is getting smarter.  Phones, cars, televisions, refrigerators, books, thermostats…and maybe even humans.  I find most of these advancements to be very interesting, and quite useful in the daily lives of most people around me.

Photographs, however, are something that I’m particularly interested in watching (and helping) become smarter.

Photos are everywhere; and are certainly at the crux of online real estate, which, in 2012, included 93% of people who sold a home, and 96% of people (under age 44) who bought a home.  Oh, and don’t forget the hundreds of millions of people who visit real estate websites each month.

Today

Recently, a company called ‘Stipple’ has been making some noise in the image monetization and social shopping arena.  They allow businesses to create content and messaging within an image (without widgets or code), and then analyze & track the interaction with the data inside that image.

As it pertains to real estate, I think Stipple provides a viable strategy to those professionals who are active in distributing (quality) visual content across the web.  You can share a link, or better yet, embed the photo into your social pages, blog or website.

Here is an example, using a real estate photo as the context.  Take a look at the picture…and then the tweet that I’ve embedded with the same photo after it was “Stippled”.  Stipple has actually implemented Twitter Cards (which I wrote about in a previous post) which allows you to view and interact with the photo, directly within the twitter feed.

In addition, check out some of the analytical tools that come with Stipple:

stippled-photo-49486160

Check out this beautiful home in Statesville, North Carolina (stipple.com/photos/49486160) — Jeff Nieto (@jeffnieto) Click Here to view the Stippled Tweet

stippled-photo-49514930

In The Future

While products like Stipple are innovative, and quite fascinating; they are admittedly built for e-commerce, photographers, and bloggers.

There’s no question that real estate professionals can leverage these type of tools today.  However, I think there is more to offer the industry when it comes to intelligent photographs.

In addition to what exists, here are some high points on how I think smart photos can provide additional value to real estate professionals AND consumers:

  • Determine and embed which room/view a photograph is displaying.
  • Identify and attach the “features” of a photograph (i.e. granite countertops, 10 foot ceilings, etc).
  • Embed contact information, bios, and videos from the appropriate listing agent.
  • Allow consumers to search & discover using the embedded data.
  • Compile the data within the photographs that are interacted with; and provide summary analytics and “intelligence” to the consumer and their agent.

If the data is embedded and used appropriately, consumers should be able to enjoy a more enhanced (and effective) search.  Furthermore, real estate agents would be able to market properties strategically, while learning specifics about their listings and customers.

 

How smart photos will change real estate | Inman News.

Mt Kisco Real Estate | 30-Year Fixed Mortgage Rates Increase for First Time Since March

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Mortgage rates for 30-year fixed mortgages increased this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 3.39 percent, up from 3.25 percent at this same time last week. This represents the first rate increase since late March.

The 30-year fixed mortgage rate hovered between 3.26 and 3.30 percent for the majority of the week before jumping up near the current rate on Friday.

“Last week, mortgage rates reversed their month-long decline on a stronger-than-expected jobs report,” said Erin Lantz, director of Zillow Mortgage Marketplace. “This coming week, we expect rates to remain fairly stable with limited news or economic data slated for release.”

Additionally, the 15-year fixed mortgage rate this morning was 2.56 percent, and for 5/1 ARMs, the rate was 2.32 percent.

What are the rates right now? Check Zillow Mortgage Marketplace for up-to-the-minute mortgage ratesfor your state.

05-07-13 0951AM

Spring Cleaning for Your Finances | Mt Kisco Real Estate

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Messy desk

With spring rapidly approaching and longer, lighter days ahead, you’re likely anxious to renew and refresh. Here are some projects to consider:

Remodel your home

Jump on the remodeling bandwagon! For inspiration, look no further than Zillow Digs (free on iPad and the Web), where you can browse tens of thousands of photos and get estimated costs.

Get new doors/windows

Bonus: If you make energy-efficient improvements, you’ll not only save money long term, but you might additionally qualify for tax credits.

Paint

In many areas of the country, the best days for big painting projects are in the spring, when you can finally open the windows (rejoice!) without cold, uncomfortable drafts coming in. Why not give your home a whole new look with fun, vibrant colors to get you in the spirit for summer?!

Wipe out your closet

Are there things in there that you haven’t worn in two years? You know the rule: Toss! Consider selling to consignment or donating to charity and taking the tax break.

Organize your home office

A survey by Brother International shows that most office workers spend 30 minutes each week hunting for paperwork on a disorganized desk. Having a system will not only save you time and alleviate the stress, but likely save you money, too, as being sloppy typically results in things like late fees, higher interest rates and penalty rate increases.

Related:

Vera Gibbons is a financial journalist based in New York City and is a contributor to Zillow Blog. Connect with her at http://veragibbons.com/.

Note: The views and opinions expressed in this article are those of the author and do not necessarily reflect the opinion or position of Zillow.

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Home sales dip, but tight inventories provide price support | Mount Kisco NY Homes for Sale

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Sales of existing homes slipped from August to September but were still up strongly from a year ago — a sign that the national housing market is finding solid ground, the National Association of Realtors said today.

At a seasonally adjusted annual rate of 4.75 million, sales of single-family homes, townhomes, condos and co-ops were down 1.7 percent from August to September, but up 11 percent from a year ago.

September sales of existing homes were up 11 percent from last September with a seasonally adjusted annual rate of 4.75 million, which represents a slight dip of 1.7 percent from August’s upwardly revised rate of 4.83 million.

The 2.32 million homes on the market at the end of September represented a 5.9-month supply, down from 8.1 months a year ago. Many analysts view a six-month supply of housing as an even balance between buyer and seller demand.

Thanks to tight inventories, the national median home price was up 11.3 percent to $183,900 from a year ago, the seventh month in a row of annual increases and the longest stretch of annual increases in six years.

“We’re experiencing a genuine recovery,” said Lawrence Yun, NAR’s chief economist, in a statement. “More people are attempting to buy homes than are able to qualify for mortgages, and recent price increases are not deterring buyer interest,” he said.

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Low inventory will be a temporary issue, said Jed Kolko, Trulia’s chief economist. “Rising prices will get some homeowners back above water and willing to sell their homes, and tight inventory will encourage builders to keep ramping up new construction, bringing more new homes to market,” he said.

First-time buyers accounted for 32 percent of purchasers in September, up from 31 percent in August.

Foreclosures and short sales sold for 21 percent below market value, on average, and accounted for 24 percent of September’s sales.

All-cash deals accounted for 28 percent of September’s sales — up a percentage point from August and down two from last September.

Existing-home sales, September 2012

Seasonally adjusted annual rate4.75 million
% change from September 201111.0%
% change from August 2012-1.7%
National median price$183,900
% change from September 201111.3%
Unsold inventory (months’ supply)5.9
Share of all-cash buyers28%
Share of investor buyers18%
Share of first-time buyers32%
Share of distressed sales24%

Source: National Association of Realtors

All U.S. regions saw existing-home sales and prices rise in September from a year ago.

As was the case in August, the Midwest led the way in home sales with a 19.6 percent year-over-year increase to an annual rate of 1.1 million sales. The median price in the Midwest also rose in September from a year ago, up 7 percent to $145,200.

The South saw sales jump 14.2 percent from last September to an annual rate of 1.93 million. Median prices jumped, too, to 13.1 percent from last September to $163,600.

Home sales rose 7.3 in the Northeast on an annual basis to a rate of 590,000. Median prices in the region rose 4.1 percent to $238,700.

The West experienced a slight 0.9 percent yearly increase in home sales to 1.13 million, but saw the largest yearly median price jump of any region, 18.4 percent to $246,300, in September.

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Housing Flipping Dead For 2011 | Mt Kisco Luxury Real Estate

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We keep hearing about what’s popular in 2011 for home design — but how about what’s not? Builder Magazine writer Jenny Sullivan asked industry experts to weigh in on design fads that you won’t likely see in the new year. Here are some of the fading home trends experts mentioned:

1. Trophy space: Forget those two-story grand entrances. Builders are seeking more affordable, energy efficient design so they are getting rid of large, volume spaces in homes.

2. Just for show: Fancy, overdone rooms won’t cut it in the era of the practical, cash-strapped buyer. Lavish industrial-grade kitchen ranges or fancy master bath spa tubs– that are hardly even used anyway–will fall to the wayside. “The kitchen is once again becoming a working part of the home and not just a showcase,” architect Don Taylor of DW Taylor Associates in Ellicott City, Md., noted in the article. “It needs to provide all of the latest conveniences and technology, but with practical applications in mind. The faux commercial kitchen look may have reached its summit.”

3. Egocentric houses: It’s not just about the interior of a home that makes a home.

Buyers are caring more about its curb appeal and what’s nearby the home as well. Parks, amenities and neighborhood connections create a sense of community, said John M. Thatch, principal with Dahlin Group Architecture and Planning in Pleasanton, Calif. While most infill homes on the boards are 10-20 percent smaller in size, Thatch notes that buyers are willing to trade extra space for a more appealing neighborhood.

4. Home flipping: Gone is the trend of buying a “starter” home or a home for short-term investment. Buyers are now buying for keeps and it’s changing the way they view homes. “The idea of a home as a short-term money maker is essentially gone, so when people do buy they’ll do it with the intention of staying ten years instead of two or three,” says Jim Chittaro, president of Smykal Homes in Chicago. As such, he says buyers will care more about the design of the home and they won’t want it to feel cheap.

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Mt Kisco NY Restaurant Names Soup After Governor Elect Cuomo | Mt Kisco NY Real Estate

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A restaurant in Mount Kisco has unveiled a new soup in honor of Gov.-elect Andrew Cuomo, who lives in New Castle (but has a Mount Kisco mailing address). Via Vanti! is now serving “Lago di Cuomo” soup. It is a “puree of warming winter greens served with a crostini topped with goat

cheese, chopped tomato and fresh basil,” the restaurant Founder Jimmy John said in a news release. The soup is vegan and non-dairy, and a gluten-free crostini is available upon request.

The soup, while named for Cuomo, is also inspired by the Lago di Como resort destination in northern Italy, according to the restaurant. Customers will get a free taste of the “inaugural soup” during January. Lago di Cuomo will be one of Via Vanti!’s seasonal soups, and $1 from every purchase of it will be donated to the Food Bank of Westchester.

The 2-year-old restaurant is located in the historic Mount Kisco Train Station at 2 Kirby Plaza.

Existing Sales Rise 5.6% In November According to NAR | Mt Kisco Real Estate

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Existing-home sales got back on an upward path in November, resuming a growth trend since bottoming in July, according to the National Association of REALTORS®.  

Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums, and co-ops, rose 5.6 percent to a seasonally adjusted annual rate of 4.68 million in November from 4.43 million in October, but are 27.9 percent below the cyclical peak of 6.49 million in November 2009, which was the initial deadline for the first-time buyer tax credit. 

Lawrence Yun, NAR chief economist, is hopeful for 2011. “Continuing gains in home sales are encouraging, and the positive impact of steady job creation will more than trump some negative impact from a modest rise in mortgage interest rates, which remain historically favorable,” he said. 

Yun added that home buyers are responding to improved affordability conditions. “The relationship recently between mortgage interest rates, home prices and family income has been the most favorable on record for buying a home since we started measuring in 1970,” he said. “Therefore, the market is recovering, and we should trend up to a healthy, sustainable level in 2011.” 

The national median existing-home price for all housing types was $170,600 in November, up 0.4 percent from November 2009. Distressed homes have been a fairly stable market share, accounting for 33 percent of sales in November; they were 34 percent in October and 33 percent in November 2009. 

Foreclosures, which accounted for two-thirds of the distressed sales share, sold at a median discount of 15 percent in November, while short sales were discounted 10 percent in comparison with traditional home sales. 

Inventory Drops
Total housing inventory at the end of November fell 4.0 percent to 3.71 million existing homes available for sale, which represents a 9.5-month supply at the current sales pace, down from a 10.5-month supply in October. 

NAR President Ron Phipps said good buying opportunities will continue. “Traditionally there are far fewer buyers competing for properties at this time of the year, so serious buyers have a lot of opportunities during the winter months,” he said. “Buyers will enjoy favorable affordability conditions into the new year, although mortgage rates are expected to gradually rise as 2011 progresses.” 

According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage rose to 4.30 percent in November from a record low 4.23 percent in October; the rate was 4.88 percent in November 2009. 

“In the short term, mortgage interest rates should hover just above recent record lows, while home prices have generally stabilized following declines from 2007 through 2009,” Yun said. “Although mortgage interest rates have ticked up in recent weeks, overall conditions remain extremely favorable for buyers who can obtain credit.” 

A parallel NAR practitioner survey shows first-time buyers purchased 32 percent of homes in November, the same as in October, but are below a 51 percent share in November 2009 from the surge to beat the initial deadline for the first-time buyer tax credit. 

Investors accounted for 19 percent of transactions in November, also unchanged from October, but are up from 12 percent in November 2009; the balance of sales were to repeat buyers. All-cash sales were at 31 percent in November, up from 29 percent in October and 19 percent a year ago. “The elevated level of all-cash transactions continues to reflect tight credit market conditions,” Yun said. 

Single-Family Homes Sales Jump
Single-family home sales rose 6.7 percent to a seasonally adjusted annual rate of 4.15 million in November from 3.89 million in October, but are 27.3 percent below a surge to a 5.71 million cyclical peak in November 2009. The median existing single-family home price was $171,300 in November, which is 1.2 percent above a year ago. 

Existing condominium and co-op sales declined 1.9 percent to a seasonally adjusted annual rate of 530,000 in November from 540,000 in October, and are 32.2 percent below the 782,000-unit tax credit rush one year ago. The median existing condo price was $165,300 in November, down 5.5 percent from November 2009. “At the current stage of the housing cycle, condos are offering better deals for bargain hunters,” Yun said.

NAR

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HUD Sets New Rules to Sell HUD Owned Homes in Mt Kisco NY | Mt Kisco Real Estate

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Overhaul of U.S. Dept. of Housing and Urban Development (HUD) REO sales program features a superstore website, new management composition, increased bidding advantages for owner occupant purchasers, new real estate commission structure, and new policies and procedures that leave non-Realtor licensees scrambling for access to HUD properties.

HUDHomeStore.com is a one-stop shop for all information and resources pertaining to HUD Homes.  The new website replaces a clunky, confusing myriad of government and regional contractor websites that made the search for HUD Homes a laborious, time consuming chore. Yardi, Santa Barbara based property and asset management software developer, built the supersite.

The new website gives real estate agents and consumers access to extensive information about properties, and all contracts, disclosures, and property condition reports can be downloaded at property detail pages. Agents and brokers register at HUDHomeStore.com prior to placing bids on HUD homes, and agents and consumers can sign up to receive automatic e-mail notices when new listings come on the market.

Daily property listings replace weekly announcements.

HUD’s new M&M III Contractor Program is the first overhaul of the agency’s REO sales system since 1999, when the agency outsourced management of its foreclosed FHA inventory as part of Al Gore’s “Reinvent Government” initiative.  HUD is rolling out a new asset distribution method to streamline operations, capitalize on expertise of potential vendors, and provide flexibility in a changing environment.

“These new [M&M III] contracts epitomize FHA’s continuing effort to reduce risk, increase net returns, decrease holding times and improve efficiency in the resale of its inventory of foreclosed properties,” said HUD Secretary Shaun Donovan. “It is critically important that FHA successfully and efficiently sell its inventory of these properties and these contractors will help us do that.”

HUD’s current inventory of foreclosed FHA property is approximately 44,000 homes. That is up from the usual average level of 35,000 to 40,000.

The M&M III program replaces a single contractor design, separates marketing and maintenance responsibilities, and establishes a management trio in each market area — Asset Managers, Field  Service Managers, and Mortgagee Compliance Managers.

Asset Managers assign HUD properties to Local Listing Brokers and award commissions up to three percent to those listing brokers. A commission based on percentage of sale price replaces a nominal flat fee listing brokers received prior to M&M III. The listing broker commission schedule is designed to incentivize listing brokerages to engage in agent and consumer outreach to spur more HUD Home sales. Selling broker commission caps are reduced from five percent to a maximum of three percent, in an amount corresponding to the Local Listing Broker commission in that market area.

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