Tag Archives: Pound Ridge NY Real Estate

Pound Ridge NY Real Estate

Existing Home Sales Tumble | Pound Ridge NY Homes

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Existing home sales fell 3.2% month-over-month in October to an annualized pace of 5.12 million units.

This was worse than expectations for a 2.9% month-over-month to an annualized pace of 5.14 million units.

This was the second straight monthly decline.

September’s number was left unchanged to show a 1.9% MoM fall to 5.29 million units the previous month.

“The erosion in buying power is dampening home sales,” Lawrence Yun, NAR chief economist said in a press release. “Moreover, low inventory is holding back sales while at the same time pushing up home prices in most of the country. More new home construction is needed to help relieve the inventory pressure and moderate price gains.”

The national median existing-home price was up 12.8% on the year to $199,500. Meanwhile, the median time for homes on the market was 54 days, up from 50 days the previous month.

Housing inventory fell 1.8% to 2.13 million units for sale at the end of the month. This represented a 5 month supply at current sales pace.

The share of distressed sales in existing home sales was unchanged at 14% in October. This is up from 12% in August, but is well down from 27% in 2012, which is an encouraging sign for the market.

Here’s a look at the regional breakdown:

  • In the northeast, existing home sales fell 2.9% to an annual rate of 670,000, but were up 11.7% year-over-year.
  • In the Midwest, they fell 1.6% to 1.22 million units, but were up 8% from a year ago.
  • In the South, they were down 1.9% to 2.06 million units, but up 7.3% on the year.
  • In the West, existing home sales were down 7.1% to 1.17 million units, down 0.8% on the year.

Pending home sales, considered a leading indicator for future existing home sales, have been falling sharply. This suggests that existing home sales will be ticking lower.

Existing home sales account for a larger share of the market than new homes

 

 

 

http://finance.yahoo.com/news/comes-existing-home-sales-143906022.html

Overcoming job stress: Don’t discount the power of positive thinking, superstition | Pound Ridge Realtor

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Have you ever had a particularly bad day, week or month that left you feeling like the mole in the “Whac-a-Mole” game?

As a Realtor, someone is always taking a swat at you or your business; what can you do to cope? Recently I had a conversation about the impending changes coming in January with respect to the qualified residential mortgage, as well as how the “Obamacare” health insurance cancellations and premium increases may impact the real estate market.

As we were discussing how these uncertainties could put the brakes on the real estate market, it struck me that the “Whac-a-Mole” game was the perfect metaphor to describe what Realtors experience on a day-in, day-out basis.

Realtors are constantly being “whacked” by unrealistic sellers; buyers who work with them and then buy from a different agent; tight credit; low appraisals; and a host of other transaction-related issues.

Moreover, federal, state and local regulations (the qualified residential mortgage is a great example) often create such high degrees of uncertainty that even the experts are uncertain about what’s coming and what real estate professionals must do in order to comply.

Now couple this with the normal day-to-day stresses such as family issues, money woes and traffic, plus the never-ending onslaught of text messages, Facebook notifications and other digital distractions, and it’s no wonder that so many agents are feeling battered about as if they’re the mole in the “Whac-a-Mole” game.

 

– See more at: http://www.inman.com/2013/11/21/overcoming-job-stress-dont-discount-the-power-of-positive-thinking-superstition/#sthash.UY1PuFGS.dpuf

Pound Ridge Police Chief Lends Voice To Panel On Domestic Violence | Pound Ridge Homes

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A recent panel discussion organized by the Domestic Abuse Network of Northeastern Westchester (DANNEW) was held at the Pound Ridge Library. Among those speaking was Town Police Chief David Ryan, who presented a convincing case as to how this issue is more prevalent in a small community like ours than most people may think.

The 90-minute discussion was moderated by Nicole Malgarinos of DANNEW.

The panel included six dedicated professionals who compared their views on working with victims when providing assistance. Included on the panel were Chip Andrus, pastor of the South Salem Presbyterian Church and Kymberly McNair, associate minister of the Antioch Baptist Church of Bedford Hills. McNair is also a coordinator at My Sister’s Place, an advocacy service that provides emergency housing for victims of domestic abuse.

In many communities, clergy are usually considered first responders because they are usually the ones a victim will turn to for help.

Also part of the panel was a local resident who through her resilience, spoke of dealing with domestic abuse and how she was able to receive assistance from people trained to reach out to anyone experiencing an abusive situation. In acknowledging Ryan, this individual started out by saying “If not for him I would not be alive today.”

In explaining what she went through before receiving help, she continued “It’s like living a nightmare and then feeling like being dumped into an ocean and you don’t know if you’re swimming up or down but you’re swimming as hard as you can.”

 

 

 

http://armonk.dailyvoice.com/news/pound-ridge-police-chief-lends-voice-panel-domestic-violence

This North Andover home has style and elegance | Pound Ridge Real Estate

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We’ve seen a lot of huge regal houses in town. But who says you need land to have luxury?

Check out this luxury condominium located at 2705 Tupelo Circle, the most expensive condo on the market in North Andover today, listed at

It’s not your typical condo — with three bedrooms and more than 3,000 square feet of living space, it’s larger than many single-family homes on the market today.

The unit has shiny hardwood floors and new carpeting; a large gourmet kitchen with high-end upgrades; a fireplace in the living room and another in the master bedroom; a two-stall garage; and a master bathroom with French doors and a big jacuzzi bath.

The condominium complex, Oakridge Village, has a community swimming pool, a community fitness center, laundry room and a park.

 

 

 

 

http://northandover.patch.com/groups/real-estate/p/high-end-most-expensive-condo-on-the-market

 

 

 

 

Hollywood Hills Modern With Glass Garage Asks $8.5M | Pound Ridge Real Estate

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Location: Los Angeles, Calif. Price: $8,500,000 The Skinny: Some houses definitely need brokerbabble that scales the dizzying heights of Purple Prose Mountain to help make the sale, but then again, some houses really ought to be able to sell themselves. This car collector’s dream home that Curbed L.A. covered last week is definitely one of the latter. For the studio exec (for example) who wants to be able park their Bentley next to his Tesla inside a glass-walled nine-car garage, it’s a no-brainer. That being said, it’s hard to sever the bond between a broker and his or her hyperbole: “An irreplaceable property, an unparalleled history, and great location. This trophy estate of awe-inspiring indoor & outdoor living space is one of the most distinctive residential properties in Los Angeles…. comparable to 5-Star Hotel with amazing pool, spa and an opulent master suite, this is the absolute best opportunity to purchase a pristine compound in years. ..This celebrity compound is Walled & gated and sits on almost ONE ACRE of complete PRIVACY.” It goes on like that—with, oddly, just one off-handed mention of the garage—when all the listing really needs to say is “Do you have nine cars that need a glass garage to park in? Then buy this house.” The listing asks $8.5M.

Palatial Post-Modern Estate by Michael Graves Asks $5.8M | Pound Ridge Real Estate

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Have a nomination for a jaw-dropping listing that would make a mighty fine House of the Day? Get thee to the tipline and send us your suggestions. We’d love to see what you’ve got.

Location: Livingston, N.J. Price: $5,800,000 The Skinny: Looking for a home that combines the welcoming feel of a corporate campus with the homey decor of an airport hotel in a second tier convention city? Good news! This Michael Graves design in Livingston, N.J., has all those bases covered. From the faded tan exteriors to the teal blue walls of the indoor gym, the color palette of this seven-bedroom, seven-bathroom, 16,000-square-foot paean to corporatist post-modernism is spot on. The atrium will remind you of the lobby of your office building, the piano lounge will bring back fond memories of that time you spent a week in Oklahoma City on business, and the ubiquitous flat-screen TVs are just one part of the “exquisite appointments” the brokerbabble brags about. All teasing aside, the place brags some cool curved walls, huge windows, and a prime location “atop the highest point in [New Jersey’s] Bel Air.” Outside? A lawn, swimming pool, and jungle gym. The owners are asking $5.8 M for what the listing describes as a “must see for discriminating clients.”

R.I. mortgage delinquency and foreclosure rates take a dip | Pound Ridge Real Estate

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Rhode Island’s rates of mortgage delinquency, foreclosure and new foreclosure starts all fell less than 1 percent in the third quarter of 2013, compared with the second quarter, according to statistics released Thursday by the Mortgage Bankers Association.

Still, more than 1 in 10 mortgages in Rhode Island are either in foreclosure or behind in payments, well above historical norms.

Nationally, Rhode Island ranked 13th in delinquencies and 9th in new foreclosures started during the third quarter. The numbers come from the association’s quarterly National Delinquency Survey.

Rhode Island’s delinquency rate was 7.84 percent of mortgage loans, compared with a national rate of 6.67 percent for one-to-four-unit residential properties.

The delinquency rate includes loans that are at least 30 days past due, but it does not include loans in foreclosure. Rhode Island’s foreclosure rate in the third quarter was 3.25 percent, compared with a national rate of 3.08 percent.

For new foreclosures started during the quarter, Rhode Island’s rate was 0.75 percent, while nationally, that rate was 0.61 percent.

Jay Brinkmann, the chief economist for the bankers’ group, said the continuing high foreclosure rate is due to “underlying economic factors impacting the housing markets,” though “we’re also working through the problems of the past,” referring to the many unsustainable loans that led to massive numbers of foreclosures and the banking crisis of 2008.

 

 

http://www.providencejournal.com/breaking-news/content/20131107

Roman Abramovich to Buy Lavish (Almost) Manse For $75M | Pound Ridge Real Estate

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Perhaps feeling insecure after Sheikh Khalifa bin Zayed al-Nayan stole the title as owner of the world’s largest yacht, billionaire Roman Abramovich has bought—well, he’s in contract to buy, according to the Post—this ridiculously opulent Manhattan mansion. The purchase would add a NYC home to an already robust portfolio (which includes, but is by no means limited to, nine-figure estates in St. Barths, Snowmass, Colo., and the English countryside), and provide Abramovich 22 rooms, eight bedrooms, 15 bathrooms, a grand ballroom, a reception rotunda, a library, a rooftop terrace, and some of the most lavish, gussied-up interiors in the city.

When the mansion hit the market last year, it was asking $72M for three units, all owned by the Monaco-based family of the late real estate developer Howard Ronson. That price was meant for uncombined—and frankly somewhat architecturally incompatible—units, but not the entirety of the building, as there were, at the time, still two of five holdout owners. If Abramovich was’t able to quietly convince them to vacate—and, really, who would want to be in the bad graces of a corrupt Russian billionaire?—perhaps his publicly profligate ways, surely a media magnet, will finally convince those guys to bid, uh, do svidaniya.

Curbed NY points out that if the deal goes through for $75M, it will become the most expensive co-op ever sold in New York. Oh, and that $3M over ask? Yep, that’s just about 0.03 percent of Abramovich’s net worth.

 

 

http://curbed.com/archives/2013/10/04/roman-abramovich-to-buy-lavish-almost-manse-for-75m.php