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NYC luxury broker partners with site devoted to Manhattan’s side streets | Pound Ridge Real Estate

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New York City-based luxury real estate brokerage Warburg Realty has joined forces with a website dedicated to exploring the “hidden gems” of Manhattan’s side streets.

The site, Manhattan Sideways, says it introduces people — through photography, video and narrative — to all that makes up a neighborhood, especially places inaccessible via newspapers, magazines and the Internet. These include boutiques, bars, restaurants, galleries, gardens and historic sites, among other places.

In a statement, Betsy Bober Polivy, creator of Manhattan Sideways, noted that the Avenues — the major north to south thoroughfares of the island — are well-covered by the media and well-traversed by shoppers and travelers.

“I wanted to get off the beaten path and explore the side streets. In fact, the development of Manhattan’s iconic grid, starting at 1st Street and continuing up to 155th Street, envisioned the side streets as being of greater importance than the avenues,” she said.

“I am literally walking side to side, east to west, beginning on 1st Street and winding my way north. My goal is to walk the numbered side streets and comprehensively document every commercial establishment, and other places of interest, with special feature write-ups along the way.”

Warburg Realty, which has 125 brokers throughout Manhattan, will now feature Manhattan Sideways’ Side Picks neighborhoods — which highlight “must see” destinations — on its website and social media channels, the brokerage said.

 

 

 

– See more at: http://www.inman.com/2013/09/11/nyc-luxury-broker-partners-with-site-devoted-to-manhattans-side-streets/#sthash.kPZ5WCkf.dpuf

Sales of new homes rise nearly 8 percent in August | Pound Ridge Real Estate

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Sales of new single-family homes rose nearly 8 percent in August and are 12.6 percent higher than a year ago, according to new data released Wednesday by the Census Bureau.

The rise — which comes just a month after new home sales plunged by more than 14 percent— is the latest turn in what economists say will be a volatile ride for this segment of the housing market.

The number of new homes sold in August was at a seasonally adjusted annual rate of 421,000, up from the revised rate of 390,000 homes in July. That figure is still below the rate of construction needed in a healthy market, according to analysts. Right now, it would take five months to run through the supply of new homes, according to the report.

A six-month supply of homes is considered healthy, and the housing market is still facing a shortage of inventory.

 

 

http://articles.washingtonpost.com/2013-09-25/business/42378348_1_new-homes-housing-recovery-low-inventory

Brooklyn home prices hit 10-year record high | Pound Ridge Realtor

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Brooklyn is no longer the place to buy a home when you can’t afford Manhattan.

Homes in the Borough of Kings are selling at record-high prices, thanks to surging demand and low-but-rising mortgage rates, according to new real-estate figures.

Before the economic meltdown, the average price of a Brooklyn home hit $603,428 in 2007 — then sank to $494,720 in 2009 — but has rebounded to a stunning $694,777, according to the Elliman Report.

“It isn’t a discount neighborhood anymore,” said Pam Liebman, CEO of The Corcoran Group.

Pricey Manhattan homes are helping to drive buyers across the Brooklyn Bridge, but many are attracted to the hipster borough because it’s become an attractive place to live.

“Brooklyn is commanding record sales because it is truly a destination. People no longer view it as an alternative to living in Manhattan,” said Dottie Herman, president and CEO of Douglas Elliman Real Estate.

Liebman concurs.

“People are choosing to go to Brooklyn for the lifestyle. It’s not your father’s Brooklyn anymore,” she said.

“It’s percolating in every neighborhood,” Herman said. But some percolate more than others.

For example, in Carroll Gardens/Boerum Hill/Red Hook, co-op sales average $937,000, up 41 percent from the same quarter last year.

Condos in Williamsburg/Greenpoint now average $914,000, up 21 percent over the year, according to Cor­coran.

Upper-end luxury homes jumped to a median sales price of $1.7 million borough-wide, an increase of 18 percent.

Brooklyn is “hot because of all the restaurant openings, Barclays Center,” said Frank Percesepe, regional senior vice president, Brooklyn for Corcoran. “So many commercial neighborhoods are getting new buildings, and they are getting turned around into beautiful neighborhoods.”

Meanwhile, even if you can afford a Brooklyn home, it’s harder to find one. Inventory is at its lowest third-quarter level in five years. And what’s available is relatively new.

 

 

http://nypost.com/2013/10/10/brooklyn-home-prices-hit-10-year-record-high/

9 Strategies for Self-Sufficient Living | Pound Ridge NY Homes

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When you grow your own food, generate your own energy, and work from a home  office or farm for your livelihood, the so-called “costs of living” largely  disappear. You become untethered to the work-earn-spend consumer economy and  thrive, instead, in a more locally centered, self-sufficient economy in which  monetary income is less essential for a rich life. Making this self-sufficiency  dream a reality has been our goal since my wife, Lisa Kivirist, and I moved to  our 5 1/2-acre farmstead in southwestern Wisconsin in 1996.

Self-reliant living can take many forms. You can provide your own food and  energy and be your own barber, repair person, home-school teacher, house  cleaner, painter, and child care provider. By running a home-based business, you  can generate the money needed to obtain essential products or services you’re  unable to produce for yourself.

Transitioning to self-sufficient living requires research and planning. But  have no fear: You can get started today, wherever you live and with whatever  resources and skills you already have.

The Journey to Self-Reliance Begins

Today, our one-third-acre garden meets about 70 percent of our food needs. A  wind turbine and a photovoltaic system generate a surplus of electricity  annually. Our home-based enterprises include running a bed-and-breakfast named  Inn Serendipity, consulting for various nonprofit organizations, and writing  books about sustainable living. A modest farmhouse houses both our family and  our businesses. But it didn’t start out this way.

We moved to our farm from Chicago, newly married and eager to begin our quest  to reclaim the skills and services that we had been buying from others for so  long. We wanted to break free from our fossil fuel addiction and sequester more  carbon dioxide than we emit each year. We knew these goals would take years to  achieve. Here are the strategies we have followed to make our vision a  reality.

1. Be Frugal

Practice financial discipline by making a commitment to frugality. Forgoing  luxuries, such as satellite TV and smartphone service, allows us to live below  our means. We’ve never owned a new car or carried a balance on our credit  card.

Why rent a movie when you can get it free from the library? “Shop” at  clothing swaps, where you drop off the clothes your children have outgrown while  picking up something new for yourself. We chop cords of firewood with neighbors  and enjoy cooking with our Sun Oven solar cooker. The combined savings from  these creative ways to share and use free resources, along with our food and  energy production, allowed us to pay off our mortgage.

With our mortgage retired, we can live on about $10,000 a year. When we do  purchase items, they’re high-quality and durable — many with warranties for a  decade or more — and are bought from cooperatives when possible. As for  retirement, why would we want to stop what we love doing?

2. Think Long-Term and Stay Put

Commit to a permanent location and develop a long-term vision. You will want  to have a practical plan that you can achieve over a time period appropriate to  your current stage of life. Taking on a project in your 50s that would require  years to see through is not the same as doing so in your 20s. Be reasonable and  honest with yourself regarding your abilities and project time frames.

We plotted our journey to self-reliance by the decade, leaving ample time to  figure out projects big and small, from how to plant potatoes to how to take  advantage of renewable energy incentives that made our home energy systems  possible. We also factored in time to persevere when setbacks occurred — which  they did, such as when a severe windstorm damaged all three blades on our wind  turbine. We typically only take on one or two major self-sufficiency projects a  year.

3. Get Back to Basics

Deciding where to start your journey can feel overwhelming. If you’re like we  were — strung out on lattes, hunkered down in cubicles at stressful big-city  jobs, living off biweekly paychecks — simply finding the time to think through  the how, where and when is challenging. Raising kids  and paying a mortgage or student loans can add to the stress.

 

 

 

Read more: http://www.motherearthnews.com/print.aspx?id={2A393461-2F16-4817-B2C4-914EB682EA48}#ixzz2hQ4dgvr0

LendingTree, Zillow Clash over Housing Credit | Pound Ridge Real Estate

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Two companies that compete with each other in housing finance clashed this week over the critical issue of access to mortgage, releasing reports that were in direct conflict with each other and served to increase confusion and tension rather than clarify anything.

According to LendingTree’s report, its Credit Accessibility score is benchmarked at 100, using data from the full year of 2012.  It reported the average accessibility score for the US was 106 in August, compared to 103 in July and 100 in June, indicating that borrowers had an easier time accessing mortgage credit in August compared to prior months, reported a LendingTree news release.

“Over the past few years, potential borrowers may have found it difficult to get approved for a loan.  But as home prices rise, refinance activity slows and government programs change, potential borrowers are finding it easier to gain access to credit,” said Doug Lebda, founder and CEO of LendingTree.  “Lenders are easing down payment and credit score requirements while still adhering to conforming loan guidelines.  And as the private securitization market starts to bounce back, borrowers who didn’t qualify in the past may now have that opportunity.”

On the same day, Zillow’s Mortgage Marketplace reported that:

“Despite a healing housing and mortgage market, three out of 10 Americans remain unlikely to qualify for a mortgage, according to a Zillow® Mortgage Marketplace analysis.

“The research analyzed 13 million loan quotes and more than 225,000 purchase loan requests on Zillow Mortgage Marketplace in September 2013, and compared it to a similar study conducted in September 2010.

“Borrowers with credit scores under 620 who requested purchase loan quotes for 30-year fixed, conventional loans were unlikely to receive even one loan quote in September 2013, unchanged from three years ago, even if they offered a relatively high down payment of 15 to 25 percent. Nearly 3 out of 10 Americans, or 28.4 percent, have a credit score of 620 or lower, according to data provided by myFICO.com.

“Meanwhile, the bar has risen for borrowers to get the lowest available mortgage rates. The best mortgage rates are typically reserved for those with credit scores of 740 or higher, compared with 720 in 2010. According to myFICO.com, 40.3 percent of Americans currently fall into this category. In 2010, 47 percent of Americans had credit scores over 720 and were able to get the best rates. Borrowers with credit scores above 740 did not receive significantly better mortgage rates.

“In the 2013 study, borrowers with credit scores of 740 or above got an average low annual percentage rate (APR) of 4.42 percent for conventional 30-year fixed mortgages. Borrowers with mid-range credit scores between 620 and 739 received APRs, on average, between 5.09 and 4.47 percent, with the APR rising as the credit score drops. Those with credit scores below 620 received too few loan quotes to calculate the average low APR.

“Despite all-time high levels of affordability in the housing market, tightened lending standards mean that nearly one-third of Americans are unlikely to be able to achieve the American Dream of homeownership because they can’t qualify for a mortgage due to a low credit score,” said Erin Lantz, director of mortgages at Zillow. “Your credit score is the single most important factor in determining your mortgage interest rate and monthly payment. To avoid any surprises when buying a home, check your credit score and report at least six months before you intend to buy to see if there are any costly inaccuracies, pay down high-balance lines of credit and make sure your bills are always paid on time.”

 

 

http://www.realestateeconomywatch.com/2013/09/lendingtree-zillow-clash-over-housing-credit/

Susan Sarandon hands over Clinton Hill pad to rocker son | Pound Ridge Real Estate

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Famed actress Susan Sarandon has unloaded one of her three New York City apartments to her musician son, by way of a trust overseen by the ex-wife of television personality Geraldo Rivera and a veteran Hollywood actress.

Sarandon transferred the apartment at 334 Grand Avenue in Clinton Hill for $900,000 — the same price she paid for it in January 2012 — to a trust named after Miles Robbins, her son with long-time partner, the actor Tim Robbins, property records filed with the city today show.

The trustees of the Lancaster, Pa.-based trust are Edith Vonnegut, the daughter of noted novelist Kurt Vonnegut and Rivera’s former wife, and actress Lynn Cohen, who has appeared on the television show “Sex and the City” and is part of the cast of the upcoming “Hunger Games” film.

Sarandon won an Academy Award in 1996 for her leading role in “Dead Man Walking” and is a four-time Oscar nominee. Her more memorable film roles include “Thelma & Louise” and “The Rocky Horror Picture Show.”

Miles Robbins, 21, is a musician and has appeared in a few of his mom’s films, including “The Greatest” and “Dead Man Walking.”

The two-bedroom, two-bathroom, 2,500-square-foot apartment includes 17-foot ceilings, a vaulted skylight, a working fireplace and 25-foot long rooms, according to the most recent listing.

Artist Danny Simmons, the older brother of music maven Russell Simmons, was the apartment’s previous owner. He put it on and off the market over the course of six years, beginning in May 2006, when it was priced at $1.25 million, StreetEasy and city property records show. Russell’s name was on the deed of the apartment until 2005, records show.

Toni Martin of the Corcoran Group had the listing when Sarandon purchased the home. She could not immediately be reached for comment.

Sarandon also owns a West Village penthouse at 61 West 9th Street, which she purchased in June 2011 for $1.75 million, as previously reported. She also owns a co-op at 147 West 15th Street in Chelsea, which she purchased from Tom Robbins for $3.2 million in June 2011 after they split.

 

 

http://therealdeal.com/blog/2013/10/03/susan-sarandon-hands-over-clinton-hill-pad-to-rocker-son/

Larry Bird’s Party-Ready Florida Mansion Listed For $4.8M | Pound Ridge Real Estate

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After an injury-induced hiatus, former Celtics star Larry Bird is back in commission as the Indiana Pacers team president, and is thus selling his Florida mansion, which he built from the ground up in the late ’90s, for $4.8M. The design scheme for the 6,000-square-foot, four-bedroom home leaves a lot to be desired—unless you love beige drapes and columns—but with a 10-person home theater, an infinity pool, a tiki hut, and a full-service bar with the obvious—a built-in aquarium—the Bird’s Naples hideaway is nothing if not a roarin’ good time. No word yet on whether Bird plans on dropping by for a little one on one, but one can dare to dream.

 

 

 

http://curbed.com/archives/2013/09/26/larry-birds-party-ready-florida-mansion-listed-for-48m.php

Mortgage Rates decline again | Pound Ridge Homes

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Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates falling for the third consecutive week amid declining consumer confidence and the onset of the federal government shutdown. The average 30-year fixed rate mortgage is at its lowest level since the week ending June 20, 2013.

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 4.22 percent with an average 0.7 point for the week ending October 3, 2013, down from last week when it averaged 4.32 percent. A year ago at this time, the 30-year FRM averaged 3.36 percent.
  • 15-year FRM this week averaged 3.29 percent with an average 0.7 point, down from last week when it averaged 3.37 percent. A year ago at this time, the 15-year FRM averaged 2.69 percent.
  • 1-year Treasury-indexed ARM averaged 2.63 percent this week with an average 0.4 point, unchanged from last week. At this time last year, the 1-year ARM averaged 2.57 percent.

Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following links for the Regional and National Mortgage Rate Details and Definitions. Borrowers may still pay closing costs which are not included in the survey.

Quotes Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac.

“With the onset of the federal government shutdown and declining consumer confidence, fixed mortgage rates fell for the third consecutive week. Consumer sentiment fell for the second month in a row in September to its lowest reading since April, according to the University of Michigan. Moreover, a recent Bloomberg survey of professional forecasters suggests that a partial federal shutdown lasting one week would shave 0.1 percentage points off of GDP growth in the fourth quarter and even more if the shutdown lasts longer.”

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation’s residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for one in four home borrowers and is one of the largest sources of financing for multifamily housing. For more information please visit www.FreddieMac.com and Twitter: @FreddieMac.

Enjoy Cider Saturday At New Canaan Nature Center | Pound Ridge Homes

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The New Canaan Nature Center is celebrating cider season with a series of autumn-themed events on Saturday from 11 a.m. to 3 p.m.

Cider press demonstrations will be held 15 and 45 minutes after every hour, and the apple sling shot will be fired at the top of every hour.

There will also be a pumpkin scavenger hunt and seasonal crafts activities for children.

Fresh local cider will be available for purchase by the cup, half gallon and gallon.

Admission is $5 for nature center members and $8 for nonmembers. Children under age 2 are free.

The Nature Center is located at 144 Oenoke Ridge in New Canaan.

For more information, contact the nature center at 203-966-9577 or online at http://www.newcanaannature.org.

 

 

http://newcanaan.dailyvoice.com/neighbors/enjoy-cider-saturday-new-canaan-nature-center

Considering or Dreaming About Buying a Home? How to Pick the Best Mortgage Rate for You | Pound Ridge Homes

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Even though the 15-year fixed-rate mortgage was just 2.5 percent last year, the lowest in recorded history, and three-quarters of a percentage point below the 30-year fixed-rate loan, more than 85 percent of the home loan market was dominated by 30-year fixed-rate mortgages.

The 30-year fixed-rate mortgage has been popular particularly in recent times after the housing bubble and crash, said Lawrence Yun, chief economist with the National Association of Realtors.

Yun said consumers want certainty, and by getting a 30-year fixed rate mortgage while they are in their homes is protection against the uncertainty of other economic factors.

As for the second reason, stability, a fixed interest rate over 30 years also means a monthly principal and interest payment that is predictable to homeowners.

“Moreover, by avoiding payment shock and negative amortization, fixed-rate borrowers are less likely to fall behind on their payments, – a plus for investors too,” Nothaft writes.

Why not a longer period than 30 years?

Yun says institutions and homeowners rely on the 30-year fixed-rate mortgage for both tradition and history.

Also, “People view more than 30 years as lifetime of payments,” Yun said. “Thirty years offers a term limit to say,  ‘At a certain point in my life, I will not have to pay a mortgage.’ I think that assurance is comforting.”

Yun adds that given the mortgage’s standardization and popularity, it makes it easy for Wall Street, or Fannie and Freddie to guarantee those mortgages.

Nothaft said 30-year fixed-rate loan is flexible because it is generally prepayable at any time without penalty.

If homebuyers choose to pay off the loan before maturity, in the case of refinancing or selling the home, for example, they can do so without paying an early prepayment fee, Nothaft said.

http://abcnews.go.com/Business/