Tag Archives: North Salem NY Real Estate

North Salem NY Real Estate

Drab to Fab: Unearthing Your Home’s Hidden Diamonds | North Salem Real Estate

 

 

Every home has “that room” – the one space that’s desperately dated, in disrepair, or otherwise in need of serious help. Of course, that room usually is the one space that everyone can see (we’re looking at you orange kitchen, carpeted bathroom, and boring backyard). So, how do you transform the embarrassing into the astonishing? We’ll show you how to find your diamond in the rough.

Fixin’ the KitchenFixin' the Kitchen

Not surprisingly, 33% of HomeAdvisor users reported that the kitchen was the room that could benefit the most from a refresh. And while many of us dream of gutting our kitchens, it’s possible to get a kitchen you can be proud by making a few key updates to your cabinets and countertops.

You probably don’t need to take a look at your cabinets to tell us whether you hate them or not. If you’re like many homeowners, you’re not too fond of them. Perhaps they’re broken and worn out. Or maybe they’re just plain ugly. Whatever the case, updating them will have a huge impact on your kitchen’s look. The question is: do you need to replace them, reface them, or simply paint them? In many cases, the answer depends on your budget. To help you decide, we recommend taking a look at our Cost Guide to see how much others in your area are paying for similar projects.

Let’s talk about your counters. If you aren’t happy with your kitchen there’s a good chance your countertops are partially to blame. While the reasons for your disdain are probably many, there are a couple of things you can do to rid yourself of your ugly counters. Your first option is to replace them. While this is the spendiest option, it’s the option that will have the biggest impact on the look and value of the room. Your other option (if you have laminate counters) is to resurface them. Far less expensive than replacing your countertops, resurfacing your counters is a labor-intensive, yet affordable option that can change the look of your kitchen without breaking the bank. To learn what option is best for you, we recommend talking to a counter pro.

Bathroom BreakthroughBathroom Breakthrough

Don’t like your bathroom? You’re not alone. You could open the checkbook and remodel your bathroom. Or you could make a few strategic updates that are guaranteed to have an impact.

When it comes to a bathroom update, one of the biggest areas of opportunity is to replace your shower or bathtub. Like most fixtures, bathtubs and showers start to show their age after a number of years. Sometimes the fix is as easy as having the tub refinished. This is a great option if you have a period tub that will be costly to replace. If refinishing is out, spending the money on a high-quality replacement will get you a tub or shower that will improve the look of the room and the value of your home.

If replacing your tub isn’t in the cards, replacing your cabinet hardware and light fixtures are affordable updates that can have freshen up your dated bathroom. While both jobs are doable DIY-projects, replacing your light fixtures can be tricky, especially if you’re not comfortable working with electricity. If you’d rather contract the job out to a pro, we can help you find a pro you can trust. (NOTE: When working with electricity, always make sure to turn the power off at your service panel.)

Luxe LandscapingLuxe Landscaping

When it comes to remodeling, the yard is often one of the last spaces to be addressed. Though this makes perfect sense from a budget standpoint, it makes less sense when you consider how visible your yard is and how much curb appeal can affect your home’s value. So, what can you do to transform landscaping your loathe in a yard you can be proud of? Here are a few options.

Perhaps the project that will have the most immediate impact is clearing out or trimming overgrown shrubs, bushes, and trees. While it can be very labor intensive, cleaning up your landscaping is a project that can be tackled in as little as a few hours or as long as a weekend. Or you can clear your calendar and hire a landscaping pro to do the job for you. Think you look good after a haircut? Just imagine how your yard will look.

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http://welcome.homeadvisor.com/diamondintherough?m=homesense&entry_point_id=28038335

$35M Kessler Canyon Ranch Wants $1M a Square Mile | North Salem Real Estate

 

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Location: Garfield County, Colo.
Price: $35,000,000
The Skinny: According to the listing, Cowgirl magazine once said of this ranch that “Arriving at Kessler Canyon is like entering a new state of mind”, which tells us that there is such a thing as Cowgirl magazine, and that the scenic beauty and luxury of the place is impressive even to hard-bitten, outdoorsy travel journalists. Sitting on 35 square miles of rugged western Colorado land (a spread only slightly smaller than the city of Boston), Kessler Canyon offers plenty of wilderness activities for its next owners and dozens of their paying guests. Originally built as a private ranch by the Kessler family, it’s currently being used as a resort featuring a five-star, eight-bedroom hunting lodge, a six-suite guest house, and five guest cabins, as well as a luxurious owner’s suite. Outdoors there’s a skeet shooting range, boating, and plenty of fish and game to hunt. Inside there’s a wine tasting cellar, something called the “Poseidon Spa,” and the “Safari Lounge,” not to mention a rod and gun room. It’s asking $35M, and can continue to be run as a resort, or can be converted back to a private retreat.

 

 

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http://curbed.com/archives/2014/06/09/35m-kessler-canyon-ranch-wants-1m-per-square-mile.php

Is the smart money exiting the housing market? | North Salem NY Homes

 

 

The number of all-cash residential property buyers in the U.S. was on the rise in the first quarter, while institutional investors increasingly bowed out of the market.

All-cash buys constituted 42.7 percent of all residential property sales in the first quarter of 2014 — up 37.8 percent from the previous quarter and a 19.1 percent jump year-over-year, according to RealtyTrac’s first-quarter institutional investor and cash sales report, cited by Zero Hedge.

Institutional investors, meanwhile, are trickling out of the market. Traditional all-cash buyers like Blackstone accounted for only 5.6 percent of U.S. residential sales in the first three months of the year, down from 6.8 percent the previous quarter and 7 percent in the same period a year ago. This marks the lowest level of investment for institutional investors since the first quarter of 2012, according got the report.

“Strict lending standards combined with low inventory continue to give the advantage to investors and other cash buyers in this housing market,” Daren Blomquist, vice president at RealtyTrac, told Zero Hedge. “The good news is that as institutional investors pull back their purchasing in many markets across the country, there is still strong demand from other cash buyers — including individual investors, second-home buyers and even owner-occupant buyers — to fill the vacuum of demand left by institutional investors.”

According to some industry watchers, the trend is evidence that “smart money” is exiting the market, leaving property flippers to pick up the scraps and deep-pocketed foreign buyers to snatch up properties as second, third or fourth homes.

 

 

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http://therealdeal.com/blog/2014/05/08/is-smart-money-exiting-the-housing-market/

Prep your home properly before you put it on the market | North Salem Real Estate

 

Selling a house is a major undertaking. Where do you begin? First you’ll need to establish a big-picture view of how to prepare it. This ideabook will help you do that, so you can get your home in shape to sell quickly at the best possible price (without breaking your budget).

The project: Get a home ready to sell.
Why: Taking the time to prepare your home before putting it on the market can help it fetch a higher price and increase buyer interest, making for a quicker sale. Taking a big-picture look at what to do to get your home ready to sell will help ensure that you make the best decisions and stay under budget.
Things to consider: It makes sense to start with the outside of your home, since that is what potential buyers will notice first. Shoot for nice landscaping, a freshly cleaned exterior, a driveway and walking path in good repair, a well-lit porch and an eye-catching front door.
Make a list early on of all of the repairs your home needs, from the tiny (change a lightbulb) to the major (new roof) before deciding what to get done. The fact is that the cost of most repairs and upgrades will not be recouped in the sale price, so focus on taking care of the minor repairs and tackle bigger projects only if you feel you must.

Self-employed spouses still owe taxes even if one loses more than the other makes | North Salem NY Real Estate

 

The vast majority of real estate brokers and agents are self-employed sole proprietors. They are often married to spouses who are self-employed as well. Marital togetherness is great, but when spouses each have their own separately run business, they need to keep their business income (or losses) separate for self-employment tax purposes. One spouse’s business losses cannot be used to reduce the other spouse’s net self-employment income and thereby reduce the Social Security and Medicare tax due on that income. This is so even if spouses live in a community property state like California. The U.S. Tax Court recently taught this lesson to Brenda Fitch, a California-licensed real estate agent, and her husband, Donald, a CPA. Self-employment taxes are based on net earnings from self-employment — that is, on the profit earned from the business after subtracting deductible expenses.

 

 

– See more at: http://www.inman.com/2014/02/24/self-employed-spouses-with-separate-businesses-still-owe-taxes-even-if-one-loses-more-than-the-other-makes/?utm_source=20140224&utm_medium=email&utm_campaign=dailyheadlinesam#sthash.qv1F5J6t.dpuf

6 Simple Home Decor Rules to Follow | North Salem NY Real Estate

 

Domino magazine rounds up the tip six home decor rules to live by with furniture designer and decorator Laura Yaggy. Rich paint, antique prints and tabletop treasures give her rental apartment a storied feel. Best of all, she can take all of it with her.

 

1. Create History Through Paint

Because wallpaper would be a pain to remove, she created an alternative graphic wall treatment: a striking collection of silhouettes that advance the historical fantasy. To perk up the sedate tones, Yaggy incorporated pieces from her company Lorely in luxe skins (the end tables), unusual objets (the candlesticks) and other hits of red.

Create history through paintCreate history through paint

“You have to paint in a rental -it makes such a huge difference,” Yaggy says. Choosing an ethereal blue for the walls provides instant 18th-century atmosphere. Her sofa, chairs and coffee table are in shades of beige, white and brown-neutrals that could work in a future room that’s painted an entirely new color.

2. Entertain According to the Space

Entertain according to spaceEntertain according to spaceYaggy loves to have people over-for cocktails only-and since she doesn’t have a proper dining room, friends gather round the coffee table. She serves cocktails in cut-glass champagne coupes that were her grandmother’s, plus simple snacks that don’t keep the hostess in the kitchen. For intimate groups, she pulls over the armchairs by the windows (she bought them for their angular shape, had their mahogany frames glazed white, then replaced the ghastly yellow upholstery with an English print). If it’s a big party, the living-room furniture gets pushed to the wall.

 

 

 

 

3. Distract Flaws with Theatrical Color

Choose a theatrical colorChoose a theatrical color

Confederate Red walls draw the eye from the cheap laminate cabinets that came with Yaggy’s kitchen, while a Jonathan Adler shower curtain (as window shade!) and a Chinese carpet lend Far East flair. Visitors, she hopes, will focus on the white built-in shelf, stocked with liquor and vintage glasses.

 

 

http://shine.yahoo.com/at-home/6-simple-home-decor-rules-160800770.html

Housing Scorecard: America still healing from Great Recession | North Salem NY Real Estate

 

Despite positive trends in the housing market, officials caution that the economy is still healing from the Great Recession, the Obama Administration said in the November housing scorecard.

Home prices stayed relatively still according to the S&P Case-Shiller home price index, which increased to 165.8 in December from 165.9 a month prior. Year-over-year the index is up from 145.8 in November 2012.

Existing homes sales climbed to 405,800 from 401,700 in November, just marginally down from 408,300 a year prior, the most recent data from the National Association of Realtors said.

The U.S. Census Bureau and U.S. Department of Housing and Urban Development found that new home sales slightly fell to 34,500 in December from 37,100 in November, but is barely up from 33,000 from December 2012.

Additionally, the supply of existing-homes for sale posted little change from a year ago and ticked up to a 4.6-month supply in December from 4.5-month supply last year, but significantly down from a 5.1-month supply in November, NAR found.

Although foreclosure starts are up from 52,800 in November, coming in at 52,100 in December, starts are still drastically down from 72,500 in 2012, RealtyTrac recent report revealed.

 

 

http://www.housingwire.com/articles/28898-housing-scorecard-america-still-healing-from-great-recession

Mortgage rates hit three-month lows as stocks dip | North Salem NY Homes

 

One upside to the downturn in the U.S. stock market is a sharp drop in mortgage rates. Those rates follow the yield on the 10-year Treasury bond and on pricing in agency mortgage-backed securities; as investors rush to the comparative safety of the bond market, yields fall and so do rates.

It’s not a perfect correlation, however, since there are other factors weighing on today’s lenders, such as new regulations.

The average rate on the 30-year fixed conforming mortgage hit 4.34 percent Friday, down from 4.50 percent just a week earlier, according to Mortgage News Daily. Lenders haven’t offered rates that low since November.

“This correction is bigger than I would have expected,” said Matthew Graham, COO of Mortgage News Daily, who points out that this week’s jobs report could send rates right back in the other direction.

 

 

http://www.cnbc.com/id/101384967?__source=yahoo%7Cfinance%7Cheadline%7Cheadline%7Cstory&par=yahoo&doc=101384967%7CMortgage%20rates%20hit%20three

If you’re going to refinance, first do this: Spruce up your house | North Salem Real Estate

 

For anyone selling a home, sprucing up is a no-brainer. Repairs, upgrades, painting and landscaping can raise the sales price. But homeowners who are staying put and refinancing often don’t bother with these improvements. If you’re not looking for a buyer and have years to get around to these things, why bother?

Because the home’s condition will be reflected in the lender’s appraisal, which will determine whether you get the new mortgage and how large it can be.

Appraisals start with an analysis of comparable sales data — the prices of nearby homes that have sold recently. Homes that have merely been refinanced are not included. Because most home sellers do spruce up, the comparable prices likely reflect homes in good to excellent condition.

In the second step, the appraiser makes adjustments for differences between the home and what he or she believes to be the standard among the comparables. So if you have a kitchen from the ’70s and the recently sold homes were more up to date, your appraised value will suffer.

After all, the point of the appraisal is to make sure the home is valuable enough to serve as collateral on the loan. The homeowner may perceive the “value” as including all those nagging improvement plans as if they’d be done, as they surely would be before a sale. But the lender wants to know what the home would fetch as is, in case it had to be unloaded after a foreclosure. A homeowner with enough financial troubles to land in foreclosure is unlikely to spend big money on repairs and improvements.

 

http://homes.yahoo.com/news/if-you-re-going-to-refinance–first-do-this–spruce-up-your-house-210847495.html

 

Douglas Elliman lists 87-Acre Ridgefield Equestrian Facility For $55 Million | North Salem Real Estate

Double H Farm, a 87-acre Olympic equestrian training facility and family home in Ridgefield, has hit the market for $55 million.

Canada’s top-earning CEO, Hunter Harrison, who heads Canadian Pacific Railroad, owns the property. He purchased the dairy farm in 2005 and transformed it into one of the country’s leading equestrian facilities. The property is listed with Sally Slater of Douglas Elliman Real Estate.

Double H Farm farm extends over 97 acres of rolling hills and vast fenced grass paddocks with never-ending views and dramatic sunsets. It has six bedrooms, seven bathrooms and 14,250 square feet of living space.

The circa-1765 property is rich in history. Formerly known as the McKeon Farm, it was the oldest working dairy farm in Ridgefield. Conservation property is adjacent to the farm.

Since 2005 the farm has undergone a series of renovations to turn it into a world-class Olympic-level equestrian facility and dream estate.

The house was built in 2009. Framed with vintage, reconditioned barn beams from Vermont, the entire house incorporates green technology, geothermal heating and air conditioning systems and radiant heat in the floors. An elevator goes to all levels of the home.

The living room has 38-foot ceilings, a massive limestone and fieldstone gas fireplace highlighted by a scaffolding of barn beams and a wall of glass overlooking the property. The formal dining room has cove lighting and a gas fireplace. The eat-in gourmet kitchen and family room has an informal dining area, top-of-the-line appliances and a massive center island. The fully outfitted outdoor kitchen is built into the screened porch off the kitchen. There is also an office with a gas fireplace.

The first floor houses the luxurious master bedroom with 20-foot domed ceilings, Venetian plaster walls, a limestone fireplace, a large marble bath with two showers, a hot tubs boise (Jacuzzi), a gas fireplace and his and hers closets in addition to a safe room.

The lower level features a state-of-the-art media room with a gas fireplace and a 105-inch plasma television, wine cellar, sauna, golf room with a putting green and golf simulator and a massage room/gym with a bath and steam shower.

The seven-car garage includes mahogany decks with two stone fire pits, a Jacuzzi spa with a waterfall, a Koi pond, an audio-visual room and a  “home networking’ system to work every system in the house.

An additional four-bedroom home and the totally renovated historical home, dating from 1765, grace the property sharing views past the pool and tennis court of a bucolic pond and paddocks.  Surrounding conservation land protects this special property for posterity.

Double H Farm features two barns with more than 40 stalls. The main barn has 20 spacious and airy stalls, four grooming and wash stalls in addition to laundry, tack and feed rooms. There are three staff apartments with living rooms and kitchens. The second barn, built for the breeding operation, has 14 stalls and two grooming and wash stalls.

For complete information on the property, view the listing website.

http://greenwich.dailyvoice.com/real-estate/87-acre-equestrian-facility-hits-market-55-million