Tag Archives: Pound Ridge Homes for Sale

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

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

4 Men With Sledge Hammers Rob New Canaan Jewelry Store | Pound Ridge NY Homes

Four men with sledge hammers smashed display cases and stole tens of thousands of dollars worth of watches Wednesday afternoon from Henry C. Reid & Son Jewelers in downtown New Canaan, the New Canaan Advertiser reported.

Police were searching for four black men suspected in the robbery at 72 Elm St. at about 4 p.m., the Advertiser said. The four men reportedly fled on foot but could not be found, the report said.

If you have any information, contact police at 203-594-3500.

Read the full story here at the New Canaan Advertiser.

 

 

 

http://newcanaan.dailyvoice.com/police-fire/4-men-sledge-hammers-rob-new-canaan-jewelry-store

Pound Ridge NY Real Estate sales up 14% | Median price up 13% | #RobReportBlog

Pound   Ridge NY Real Estate ReportRobReportBlog
20136 months ending  11/62012
41Sales36up 14%
$750,000.00median sold price$660,250.00up 13%
$399,000.00low sold price$355,000.00
$2,815,000.00high sold price$2,400,000.00
3505average size3140
$262.00ave. price per foot$248.00
184ave days on market204
$935,261.00average sold price$777,217.00
0.9657ave. sold to ask0.9332

Lending standards hold firm despite softer demand | Pound Ridge Real Estate

Despite rising interest rates and softer demand for mortgages, most banks have maintained their existing lending standards in residential loans in recent months. Per The Wall Street Journal:

Nearly 80% of banks said their credit standards for mortgages remained basically unchanged from July through September, according to a quarterly Fed survey of bank loan officers released Monday. Only about 15% of banks said their standards for mortgages have eased somewhat.

“Easier credit conditions, more generally, are helping the economic recovery,” said Erik Johnson, senior U.S. economist at IHS Global Insight. “But what’s concerning is that lending standards for residential mortgages have not improved much since tightening dramatically during the crisis.”

Source: WSJ

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

11 images

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

Get Your Projects Into Clients’ Hands | Pound Ridge Homes

So you want to get your projects published. Why?

It’s great for exposure and marketing. You can use print articles as an extension of your showroom for clients to get ideas, to learn design terminology, and to help you learn what clients do and don’t like; you can use it to show architects.

But take advantage of the longevity of print publications, which often sit on coffee tables in homes but also in doctor’s waiting rooms, salons, and fitness studios. Buy a bunch of issues and slap a banner on them with your logo and some text that reads: “Check out the local home remodeled by YOUR COMPANY featured on page X”

And, of course, most print publications have a web presence, where your work—and links to your company’s website—will live forever.

RESEARCH YOUR OPTIONS There are local and national publications that are always looking for content. Head to your local bookstore and buy a bunch of magazines and study them. Ask yourself if your project might be a good fit. You wouldn’t contact Dog Fancy with your latest kitchen remodel—unless it has a fantastic dog bowl area and they actually publish stories about such things.

Think about who the reader is going to be and who your ideal client is. Where do those two intersect?

You’d be surprised how many local publications there are in your market—from newspapers to business journals, women’s weeklies, and food-focused magazines. And don’t discount association publications from NARI and NAHB, but also those for related industries: doors and windows, concrete, metal fabricators.

Then read the articles themselves and determine how they’re put together and what they focus on. Are written about the lifestyle of the owner? Do it Yourself carpentry? The biggest, the best, the first of its kind, only a particular room?

You ultimately want to make things easy for an editor to see that, yes, your project/story is going to be something their readers will be interested in.

THINK LIKE AN EDITOR Have an idea about what makes a good story. Come up with a hook. “We had to design and build a kitchen for a homeowner who is in a wheel chair.” “Our client’s daughter was going to be married in two months and they wanted a quick kitchen pick-me-up so we did cabinet refacing.” Think about packages: “5 storage options” “kitchens with fireplaces,” “poolside outdoor kitchens.”

Pay attention to lead times. If you built a special Christmas tree closet for a client, don’t pitch that story to a monthly magazine on December 1. Even newspapers might budget time for a story like that a few months in advance. Pitch an outdoor living story in January, a winter holiday story in September.

BUILD A RELATIONSHIP Look on the publication’s masthead to find the appropriate editor—and it’s not the editor-in-chief. You most likely want to contact a senior editor, writer, or contributing writers or editors. There might be a specific editor for the type of material you want to have published. In a national publication, get the name of the regional editor near you.

Call or email and establish a relationship with that person. In many cases, they are hungry for material. Offer to take that person to coffee and show them photos of your projects, help them understand the scope and scale and level of design involved; take them on a tour of your most recent project.

Even if it doesn’t turn into something right away, keep up the relationship. The publication might not need anything right now, but your new editor friend will have your name and might call on you as a source for another story. Or, he or she might know that in a few weeks the publication needs 10 contemporary baths. It’s good for them to have contacts in the architecture and design community.

 

 

http://www.remodeling.hw.net/marketing/get-your-projects-into-clients-hands1.aspx

How does Google’s Hummingbird Update Impact Social Media Marketers? | Pound Ridge Realtor

Google recently launched a new algorithm, code-named Hummingbird, that was  designed to answer more complex queries and present more in-depth knowledge to  users.   Launched over a month ago, Google’s Hummingbird is its  largest algorithm overhaul in 10 years.

At a press conference announcing the change, Google explained that the new  algorithm is smarter, able to understand complex queries and return more  relevant answers.  They are preparing for a future of phone concierges,  where you ask your phone for information and it talks back to you, understanding  the meaning behind your questions and giving you semantically relevant  answers.

According to the  NY Times:

“The company made the changes  because Google users are asking  increasingly long and complex questions and are searching Google more often on  mobile phones with voice search.”

So how does Google’s Hummingbird update impact social media marketers?

What can you do to make sure your blog’s visibility improves in the wake of  Hummingbird?

#1. Improve your mobile’s web search experience

On InsideSearch, Amit Singhal, Google’s chief technologist, explained:

“The world has changed so much: billions of people have come online, the  Web has grown exponentially, and now you can ask any question on the powerful  little device in your pocket.”

Obviously mobile is a major focus for Google, and Hummingbird presents a way  for Google to serve better results for mobile users.  Given the massive  amounts of data Google has at their fingertips, they can anticipate trends  better than any other company…and if they are focusing on mobile and overhauling  their entire algorithm to serve better mobile results, then this is something  social media marketers must pay attention to.  Just this week, Google  changed their User Interface for tablet and mobile users.

What can you do to get your website mobile ready?

Do you need more information?  Check out Google’s extensive guide on how  to build Mobile-Optimized  Websites.

#2. Connect your blog to your Google+ profile using Authorship

Authorship is a way of identifying categorical influencers and featuring  their content in Google.

According to Google:

“Using authorship helps  searchers discover great information by highlighting content from authors who  they might find interesting. If you’re an author, signing up for authorship will  help users recognize content that you’ve written. Additionally, searchers can  click the byline to see more articles you’ve authored or to follow you on  Google+”.

It’s that simple!

 

 

 

Read more at http://www.jeffbullas.com/2013/10/30/how-does-googles-hummingbird-update-impact-social-media-marketers/#7RxDdcHq6wjBLmZV.99

$65M In Housing Aid Brings Sandy Recovery Funds In Connecticut To $500M | Pound Ridge Real Estate

Connecticut will receive an additional $65 million from the U.S. Department of Housing and Urban Development to bolster its Superstorm Sandy recovery efforts, bringing the total aid from the federal government over the last year to an unprecedented $500 million.

The aid was announced by Gov. Dannel Malloy in a statement Monday, the eve of the first anniversary of the hurricane. The $500 million will support recovery and relief efforts for residents, local education systems, small businesses, nonprofits and municipalities.

“Families across the state are still coping with the devastation caused by Superstorm Sandy last year,” said U.S. Sen. Chris Murphy, D-Conn. “With the winter months again approaching, we need to ensure these families have the tools they need to fully recover and prepare for future severe weather.”

HUD had previously provided $71.82 million to help residents, businesses and communities recover and rebuild after the storm. The first allocation of funding was made based on unmet needs and applications for individual assistance from FEMA; this new funding allocation was distributed based on a formula driven by federal data and statistics detailing unmet need and public assistance, including damage to transportation infrastructure, in Sandy-affected states.

The state Department of Housing will develop an action plan to disburse the new funding, which will require approval from both the state legislature and HUD.

“One year later, it’s clear these communities continue to be challenged by the sheer scale of this devastating storm, requiring further investment to make certain these needs are met,” HUD Secretary Shaun Donovan said. “These resources are making a difference helping individuals, families, and businesses to get back on their feet and come back stronger and more resilient than ever.”

Projects in Fairfield, New London, New Haven, and Middlesex counties and the Mashantucket Pequot tribal area are eligible for assistance. Eligible expenses are those not covered by insurance, the Federal Emergency Management Agency, or any other sources of funding. Specific work that is eligible includes:

  • Structural repair or replacement of damaged property;
  • Mitigation assistance to elevate homes and/or reduce the damage from future disasters; and
  • Rehabilitation, modification and/or improvements to infrastructure and public facilities to address damage from the storm and to reduce the damage from future disasters.

“We continue to plan—and meet—aggressive timetables in order get these funds out to homeowners and businesses as fast as possible,” said Evonne Klein, housing commissioner. “We continue to accept applications and encourage those impacted by the storm to visit one of our intake centers or visit the Web site to learn about the many ways we can help.”

U.S. Sen. Richard Blumenthal, D-Conn., said: “I commend the efforts over the past year to restore and repair our shoreline communities, but much work remains to ensure homeowners, businesses and municipalities have the resources they need to fully recover from the devastation of Superstorm Sandy.

“As storms like Sandy become the new normal, it is vital that we continue to invest in mitigation efforts to reduce future damages, emergency costs, injuries and hardships. Further, we must work to improve our systems and processes so that those in need receive the assistance they need when they need it most.”

The state recently opened four intake centers in East Haven, Fairfield, Milford and Norwalk to provide one-on-one assistance to homeowners. (Read more about the centers here.) The state’s official CT Recovers website provides information on assistance available to homeowners and businesses impacted by Superstorm Sandy from all state agencies.

 

 

http://greenwich.dailyvoice.com/politics/65m-housing-aid-brings-sandy-recovery-funds-connecticut-500m

 

North Stamford Home Rocked By Fiery Explosion | Pound Ridge Homes

An explosion ripped through a home in Stamford on Tuesday afternoon, causing heavy damage to the structure and spreading fire to neighboring buildings, according to Stamford Fire and Rescue.

Very little of the structure at 305 Webbs Hill Road in Stamford appeared to remain in a photograph taken by an eyewitness.

The cause was unknown as of Tuesday afternoon. No injuries had been reported as of yet.

UPDATE 4 p.m.: Yankee Gas spokesman Mitch Gross said that there is no natural gas service to that part of Stamford.

“Yankee Gas was requested to come to the scene by the Stamford Fire Department,” he said. “This is standard procedure.”

The Daily Voice will have more information as it becomes available.

 

 

 

http://newcanaan.dailyvoice.com/police-fire/

Housing: Should you stay or should you go? | Pound Ridge Real Estate

If you listed a home for sale in the last few months, you may have been pleasantly surprised.

 

Demand has been robust, and stories abound of houses selling for well above their asking price. In states like Florida that were especially hard hit by the housing collapse, prices in some markets are up double digits from a year earlier.

 

And when mortgage rates began their sharp rise several weeks ago, demand initially rose as buyers—apparently worried about locking in rates before they moved higher—rushed to sign deals.

 

But logic suggests that that particular party can’t last. In fact, mortgage applications slipped for the week ended July 12, the Mortgage Bankers Association said.

 

Meanwhile, a recent survey by Trulia found a of consumers said they would be discouraged from buying a home if interest rates rose above 5 percent.

 

All of which raises some tough questions for many homeowners: Should you rush to sell your house now, even as the summer doldrums approach? Or with the economy and the job market apparently on the mend, is it better to wait for the moderate pickup in activity that usually surfaces in the fall?

 

Housing starts are down. How worried should we be? CNBC’s Diana Olick has a realty check.

It depends partly on what kind of home you’re selling.

 

If you have a house that would appeal to a family, it makes much more sense to act now, says Lawrence Yun, the National Association of Realtors’ chief economist. “If someone has a large house that would be a good fit for a family with kids, they would have a harder time in the fall months,” he said. “Even though some say there’s a second revival, it’s not as strong as the spring.”

 

Even if you’re not selling a potential family home, Yun says waiting may be risky. “Even if there are slightly more people with jobs, from the seller’s strategic point of view, I think they will see more potential buyers at a lower interest rate.”

 

There is also the matter of inventories. The number of homes on the market in June was about 7 percent below the level a year earlier, according to Realtor.com. In some markets, it is almost impossible to find a home in certain price ranges.

 

But the overall supply of homes for sale has been building, and home builders are gaining confidence, both of which suggest more competition awaits potential sellers.

 

Still, even with these clouds on the horizon, experts like Frank Nothaft, chief economist at Freddie Mac, says sellers don’t need to panic.

 

The market is strong right now, he said, but “I don’t mean to say it’s going to be bad in a couple of months.” While buyers may be experiencing some sticker shock from the rapid rise in mortgage rates, he does not expect much more in the way of rate hikes. In any case, he added, in most markets, homes tend to still be “very affordable” at a 4.5 percent mortgage rate.

 

Housing: Should you stay or should you go?.