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ANTLER ALERT: THRUWAY AUTHORITY, STATE POLICE REMIND MOTORISTS OF DEER SEASON DANGERS | Pound Ridge Real Estate

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ANTLER ALERT: THRUWAY AUTHORITY, STATE POLICE REMIND MOTORISTS OF DEER SEASON DANGERS

The New York State Thruway Authority and New York State Police Troop T are reminding motorists of the dangers of deer season with the semi-annual “Antler Alert.”

Deer become more active and are more frequently present along the roadside in May and June. Most deer-vehicle collisions on the Thruway occur May through June and October through November, according to the Thruway Authority and the State Police Troop T.

The Thruway Authority maintains an excellent safety record and uses deer crossing signs at locations with a higher-than-average history of vehicle-deer collisions. Nevertheless more than 2,000 of these incidents occurred along the Thruway in 2012.

The Thruway Authority offers these safety tips for motorists:

  • Always wear your seatbelt; it’s the law.
  • Be more aware of deer throughout May and June.
  • Deer are more active during evening, dusk and dawn.
  • Scan shoulders of the roadside for deer eyes reflecting light.
  • Using high beams and sounding horn may help to repel deer, but won’t necessarily prevent a collision.
  • Slow down when approaching deer standing at the roadside, as they may run into oncoming traffic.
  • Deer often move in groups. Where there’s one, there may be more.
  • If you see a deer in your lane, brake firmly. The most serious vehicle-deer accidents occur when drivers veer at high speeds, and strike another vehicle or go off the road.
  • Never swerve to avoid hitting a deer. This can confuse deer and possibly cause them to go into the roadway.
  • If you are involved in a vehicle-deer collision, do not attempt to approach or touch the deer.

If a vehicle-deer accident occurs, motorists should make every attempt to drive their vehicle as far off the highway as possible, park on the right shoulder, activate their four-way hazard flashers, and stay in the vehicle and wait until help arrives.
Motorists traveling on the Thruway can report an accident by calling 911 or the Thruway Authority’s emergency number at 1-800-842-2233.

 

 

Press Release – New York State Thruway.

Elevated refi activity pushes mortgage applications higher | Pound Ridge Real Estate

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Mortgage applications increased 7% for the week ending May 3 when compared to a week earlier, an industry trade group said Wednesday.

The steeper jump comes after only slight increases these past few weeks, the Mortgage Bankers Association said.

The refinance index also soared 8%, reaching its highest level since December 2012.

“The gain in the refinance index was due to increases in both the conventional and government refinance indices of 8.8% and 5.7% respectively,” the MBA noted.

The seasonally adjusted purchase index rose 2%, bringing it back to its highest level since May 2010.

Breaking a three-week trend, the refinance share of overall mortgage activity inched up to 76% of total applications compared to 75% last week.

Additionally, the adjustable-rate mortgage share of activity increased slightly and now accounts for 4% of all mortgage applications.

The average 30-year, fixed-rate mortgage with a conforming loan balance continued to slip to 3.59%, the lowest level since December 2012, and down from 3.60% the previous week.

Meanwhile, the average 30-year, FRM with a jumbo loan balance dipped to 3.79% from 3.80% last week.

The average contract interest rate for the 30-year, FRM backed by the FHA ticked up to 3.35% compared to 3.34% the previous week.

Both the 5/1 ARM and the 15-year, FRM fell to the lowest rate in the history of the survey, tumbling to 2.53% and 2.81%, respectively.

 

 

http://www.housingwire.com/news

Ryan Reynolds and Blake Lively Buy Country Spread Just Outside New York for $5.7 million | Pound Ridge Homes

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Ryan Reynolds and Blake Livelymore big

The happily-married hot celebrity couple, Ryan Reynolds and Blake Lively has reportedly dropped $5.7 million on a residence in the Westchester County town of Pound Ridge, New York. (Photo : Reuters)

The happily-married hot celebrity couple, Ryan Reynolds and Blake Lively, has reportedly dropped $5.7 million on a residence in the Westchester County town of Pound Ridge, New York.

According to the Real Estalker, the couple had closed the deal on the property sometime back in November 2012, but kept it private just as they had kept their wedding in September.

“Blake was trying to decide between getting married in her new home in New York or in Charleston. She chose Charleston because we could keep it secret, quiet and a private affair for her,” Tara Guérard, their wedding planner told Life & Style at the Martha Stewart Weddings Annual Bridal Market Party. Apparently, they also used a lot of code names to do a lot of things, reports Life & Style Magazine.

The Real Estalker tried searching for some “meaty” property records but could only lay hands on some less interesting stuff. The couple bought the estate under a trust that Reynolds used to purchase his Bedford, New York and Los Angeles homes. Currently, the home is under renovation. However, the original colonial-style residence spans an area of 8892 square feet and  has 21 rooms including seven bedrooms seven/six bathrooms, all sitting on 12 large acres of land. A detached barn and a sweeping driveway are also a part of the property.

Currently, any active listing could not be found on the estate. An eyewitness reportedly saw the couple’s car moving in and out of the property many a times. The witness also saw trucks hauling loads of furniture to the residence.

Well! Nothing can be known until they want it to be known. Recently, Lively opened up about how she and Reynolds chose the Bedford home in an interview with Elle décor. The former “Gossip Girl” star said that the location of the home and the kitchen was why they liked the place a lot. Lively loves to cook and therefore having a comfy kitchen was one of the first things in her mind.

“Since my kitchen is the most important part of my home, I want to be creative and innovative, not only in its aesthetic, but also in the tools that I’m using to cook,” she explains in the interview.

 

 

http://www.realtytoday.com/articles

 

Calgary’s country residential real estate market set to take off | Pound Ridge Real Estate

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A longer winter season in the Calgary area has had an impact on sales in the country residential market but with the weather warming up it’s expected that sector will see an uptick in activity similar to what’s happening in the city and in surrounding towns.

“As the snow has melted and access to rural properties becomes an easier venture, buyers are becoming more motivated to purchase within the rural markets,” said Mark Evernden, with Sotheby’s International Realty Canada in Calgary. “As well as warm weather, a strong and growing economy accompanied by low interest rates also make home buyers eager and able to obtain homes.”

According to the Calgary Real Estate Board, year-to-date until the end of April, there have been 263 MLS sales in the ‘country residential’ market which includes acreages. That’s down 2.95 per cent compared with the same period a year ago. However, the average sale price has increased by 2.64 per cent to $823,253. New listings are off by 1.20 per cent to 991.

Evernden said the country residential market is now in full swing of activity.

“It is seasonal. The longer winter does impact the sales and volume as we are seeing. From a marketing position, the green pastures and rolling hills with colour give it that extra appeal to the consumer with digital and print marketing that goes out. No different than terrible rain seasons and gloomy days in the tropics,” he said, adding that there will now be an increase in viewings driven by the better weather, strong economy and migration of high net worth clients to the area.

Read more: http://www.calgaryherald.com/Calgary+country+residential+real+estate+market+take/8347802/story.html#ixzz2Sd9SPf18

More move-up buyers are ‘going to Miami’ | Pound Ridge Real Estate

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Home sales in Miami rose year-over-year for the 11thconsecutive month in March. The March report fromDataQuick also revealed sizeable increases in mid- to high-end activity and a record level of sales to investors and other absentee buyers.

Miami’s median price paid for a home rose 14.1% year-over-year, marking the 15th consecutive month that the city saw a gain.

In March, there were 10,215 new and resale houses and condos closed in the metro area that encompasses Miami-Dade, Palm Beach and Broward counties. Sales in March rose 18.8% from February and 7.1% from one-year prior, according to DataQuick.

However, while a sharp gain between February and March is normal, the change between those two months has averaged 26.7% since 1997.

During the first quarter of 2013 — January through March — a total of 28,294 homes sold in the region, a 14.2% increase from the first-quarter of 2012.

Sales of homes that were priced below $100,000 dipped 11.2% year-over-year, while sub-$200,000 homes dropped 3.3%.

In Miami and other markets slammed by foreclosures in recent years, you tend to have the greatest inventory restraints in the most affordable areas — the bottom third or so of the market, says Andrew LePage, a spokesperson for DataQuick.

 

 

http://www.housingwire.com

The Perfect Facebook Post? | Pound Ridge NY Realtor

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Perfection. What is that?

In the world of cars ….is it a Ferrari? If it is art… could it be the Mona Lisa? With the profession of architecture, is it personified in the Sydney Opera House?The Perfect Facebook Post

A rose?

Big claims… but you have to admit their all damm good. Memorable even…and maybe even the term excellent could be rolled out and we could even stretch it to “awesome”.

When you see something that is splendid you know it. The visual impact can be visceral , emotional and inspiring.

Whatever the phrase it is always good to strive for perfection. But keep in mind that if you are always “waiting” for your creation to be sublime and faultless then that post will never be published or that book will never be written.

At some stage the finger needs to hit that “publish” button or that “enter” key.

7 Tips for the Perfect Facebook Post

Images on Facebook are the most shared of any media. As humans we do like a good picture. Facebook just makes it easy to acknowledge that with a “like” or if we get really get excited we can even share it with our 500 “best” friends.

Creating a perfect Facebook post for images is maybe not possible, but here are 7 tips to help you move along the spectrum of excellence towards a “God like” Facebook post.

1. Post copy

Keep it short and sharp and less than 90 characters or make sure that you if you have a URL include it near the top of that text. Oh yes…asking a question about the image is sublime because it increases engagement.

2. Call to action

You need to include a URL in your post copy that drives your audience either deeper into Facebook, your blog or website. Also make that ugly long link more attractive by shortening it with bit.ly

A bit like putting lipstick on a pig.

3. Target your Post

If you are targeting a country, language or audience then make the post relevant and specific for them.

4. Timely promotion

Want to reach a bigger audience?… then run it as a “sponsored story” on Facebook within 24 hours of posting. To ensure it works as an ad unit make sure the image is square.

5. Image Upload

Make it at least 300×300 pixels and use an image that has high impact. This includes close-ups of people (don’t use a company logo) and colors like red and orange are good.

6. Mobile first

Facebook is very often viewed on a mobile (some figures show that as being 70%) so use simple images, short copy and yes/no questions are ideal.
Read more at http://www.jeffbullas.com/2013/05/03/the-perfect-facebook-post/#2z70R0yXlk7K6Cdw.99

Will rising mortgage rates undermine home prices? | Pound Ridge NY Real Estate

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Thanks to freakishly low interest rates, many homeowners with mortgages are able to make their monthly house payments using a much smaller percentage of their income than has been the historical norm, an analysis by Zillow shows.

But home prices are actually more expensive relative to median annual incomes than they were during the pre-boom years, which raises a troubling question: What happens when the economy improves and interest rates go up?

Because housing affordability is more highly dependent on interest rates than it has been in the past, when rates go up, home values will either have to remain stagnant while incomes catch up, or home values may even have to fall in some markets, said Stan Humphries, Zillow’s chief economist.

Some homebuyers could find themselves newly underwater if rising mortgage interest rates depress home values in their markets.

“Those buyers purchasing with little money down and high initial mortgage balances will be more at risk for slipping underwater if home prices fall marginally,” Humphries said. “Many homebuyers financing their purchase with a mortgage backed by the Federal Housing Administration can put down as little as 3.5 percent of the home price in down payment, and these buyers could be more susceptible to falling into negative equity even with modest home value declines.”

U.S. homeowners in the fourth quarter of 2012 devoted 12.6 percent of their median monthly incomes to mortgage payments, according to Zillow. That’s close to 37 percent more than homeowners paid from 1985 to 1999, Zillow says, when mortgages took up 19.9 percent of a typical homeowners’ median monthly income.

via inman.com

Are Home Prices Are Rising Too Fast? | Pound Ridge Real Estate

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Nick Timiraos explains how the Federal Reserve keeping interest rates low is causing home prices to grow faster than they normally would during a recovery, and that has some experts worried.

Category: Real Estate, Video

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

11 Responses to “Are Home Prices Are Rising Too Fast?”

  1. Chief Tomahawk says:

    Saw an SFGate article recently which said one homebuyer was using an “interest-only” loan to buy. I believe that means the third “i” in Warren Buffett’s investing gameplan has been turned loose yet again. Probably only because Uncle Sam is the 4th “i”.

  3. wally says:

    Interesting points. The mirror image issue is that middle class incomes have not risen for many years. Eventually that plays havoc with any modern developed economy because consumer spending is the foundation of all such economies. This will become a bigger and bigger structural issue – and political issue – in the years ahead.

  4. rj chicago says:

    Read yesterday’s post by BR originated by Mark Hanson Advisors – Nuf said.

  5. wisegrowth says:

    We need to keep in mind that there was an income shock to the economy by high income earners just before the end of 2012 due to a tax change. This extra income at the high income level of the economy has made its way into the stock market and the real estate market. The income to support the rise in these asset values won’t be sustained after a few months.
    My view is that the economy was pushed closer to a recession because of the income shock to the economy.
    I posted this explanation for you all…

    http://effectivedemand.typepad.com/ed/2013/04/an-income-shock-can-push-us-into-an-economic-contraction.html

  6. BuildingCom says:

    Sadly, prices weren’t allowed to fall due to interference and the end result is the market was never allowed to clear.

    What does that mean? Simply put, the housing price correction has been delayed and prices have even further to fall.

  7. MikeNY says:

    It’s right out of the Greenspan playbook, people: the only solution to a burst bubble is … another, preferably bigger, bubble!

  8. Angryman1 says:

    Nope, cause prices aren’t rising that fast. Note where they are rising and where they are still falling. Classic. Eventually those areas booming will cool and those areas struggling will nominally rise at a constant rate.

  9. AtlasRocked says:

    *SNIP*

    Ideological nonsense deleted due to stupidity

  10. ByteMe says:

    Not sure we’re in “bubble territory” again, but…

    What I’m seeing is that in 2004-2007, we had a huge number of smaller investors buying up real estate, but they didn’t have the deep pockets to sustain themselves during tough times and they were overpaying for their investments. Obvious bad outcome.

    Now what we’re seeing is a smaller number of deep pocketed large investors using cheap money to swoop in and buy undervalued properties and renting them. A year ago, we had no problem picking up a reasonably priced investment property; this year, we’ve tried for 7 properties so far and haven’t been able to do the deal because someone else with deeper pockets wanted to pay more than was reasonable (considering the work involved in renting properties, anything less than an 8% annual return seems stupid to me, but clearly not to someone with a huge wad of someone else’s cheap money).

    So, there’s not a bubble yet… but there are definitely pockets of inefficient money out there.

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via ritholtz.com