Tag Archives: #poundridge

Tight home buying market | Pound Ridge Real Estate

The tight US housing market is prompting a growing number of homebuyers to bid before they’re able to see the properties in person, a Redfin survey found.

Last year, 35% of homebuyers — over a third — made an offer sight-unseen, according to a survey conducted late last year. That’s up from 33% of buyers that were polled in May 2017, and 19% of those polled in June 2016.

It shows how heated the race to make the fastest and most attractive offer has become.

Because builders are unable to keep up with the pace of demand, housing markets in many major cities are tight, except at the luxury end. Additionally, existing homeowners trying to upgrade may be able to sell quickly, but often hesitate knowing they’ll face a much tougher buyer’s market. That’s making even fewer homes available for sale.

Millennials were much more likely than older homebuyers to make offers sight-unseen. Redfin’s Greg McCarriston, who authored the report, said this was partly because the younger demographic tends to have more faith in what they see when shopping online. Remote shoppers also relied on agents to conduct live video tours, and for advice on details like school districts and neighborhoods.

A full 57% of offers in Los Angeles were made sight-unseen, while 46% of offers San Diego, and 44% in San Francisco were made remotely, according to the study.

“Demand is relentless despite all of these headwinds homebuyers should be facing in terms of low inventory competition and high prices,” Cheryl Young, a senior economist at Trulia, told Business Insider. “I think we’ll actually see demand continue going up this year.”




read more…



Mortgage rates average 4.05% | Pound Ridge Real Estate

Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year mortgage rate hovering around 4 percent for the fourth consecutive week.

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 4.05 percent with an average 0.5 point for the week ending May 11, 2017, up from last week when it averaged 4.02 percent. A year ago at this time, the 30-year FRM averaged 3.57 percent.
  • 15-year FRM this week averaged 3.29 percent with an average 0.5 point, up from last week when it averaged 3.27 percent. A year ago at this time, the 15-year FRM averaged 2.81 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.14 percent this week with an average 0.5 point, up from last week when it averaged 3.13 percent. A year ago, the 5-year ARM averaged 2.78 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 link for the Definitions. Borrowers may still pay closing costs which are not included in the survey.

Attributed to Sean Becketti, chief economist, Freddie Mac.

“The 10-year Treasury yield jumped 8 basis points this week while the 30-year mortgage rate rose 3 basis points to 4.05 percent. Mixed economic reports over the last few weeks have anchored the 30-year mortgage rate around the 4 percent mark.”

Price Increases Bring Buyers Into the Market | Pound Ridge Real Estate

In ordinary markets, when prices are volatile, market players tend to shy away. This is one of the reasons why even the stock markets are very sensitive to price changes. In a report from businessinsider.com, the reverse is true in the housing market, as price volatility is actually an invitation to investors to join the party.

In a study conducted by James P. Smith, Zoe Oldfield, Richard Blundell and James Banks on the relative volatility of specific housing markets in the UK and the US, they surmised two major conclusions. The first being, individuals are more likely to purchase a home earlier in life in places that have high volatility in prices. The second being, people would move to a larger home in places that have high volatility in prices.

While this seems to go against common sense, the group said in their paper, “Typically, risk averse individuals will avoid risky assets as volatility increases. In this paper, we show that owner-occupied housing is an exception to that rule.”

The researchers discovered that people intuitively dive into the large waves price volatility creates in the housing market. In a report from sciencedaily.com, the willingness of these buyers to risk their money not only creates the fluctuations but also is directly related to the price volatility in the housing market.

According to research conducted by fellows from the University of Kansas, namely Associate Professor for Economics Shu Wu and fellow authors Joseph Fairchild of Bank of America and Jun Ma from the University of Alabama, the risk taking in a market place triggers the volatility.


read more…



Beautifully Restored Marcel Breuer Masterpiece | Pound Ridge Real Estate

All photos via Klemm Real Estate

Location: Litchfield, Connecticut
Price: $2,495,000

Hailed as the first piece of modern architecture in Litchfield, Connecticut, the 1950 Stillman House by Modernist great Marcel Breuer brought glass, colors, and clean lines to an historic New England town that was until then all about colonials. The 2,359-square-foot masterpiece, which would usher in more modern works in Litchfield by other members of Breuer’s Bauhaus-inspired cohort, the Harvard Five, is set on over two acres of secluded hilltop grounds. When current owners purchased it from the Stillman family in 2009, it was in desperate need of repairs. What followed was a four-year total restoration that introduced contemporary luxuries while maintaining Breuer’s original intentions.

Now on the market for $2.495M, the property includes a main house with four bedrooms, a guesthouse with a large sunken living room, floating staircases on the interior and exterior, and the most covetable pool. As seen in a 1950s black-and-white outdoor shot below, one end of the pool was adorned with a striking geometric mural by American sculptor Alexander Calder. The pool wall has since then been rebuilt after it deteriorated, and today, a facsimile of the artwork stands, continuing a dynamic dialogue with the blue, yellow, red, and grey strips on the front facade. On the interior, one end of a fireplace also sports the original Sound Waves mural by Bauhaus artistXanti Schawinsky.


read more…



Old Postcards of Miami & Miami Beach | Pound Ridge Real Estate

XC2008_10_6_5_000.jpg[Images via Wolfsonian-FIU]

Whatever the architecture blogs think, Miami did not discover great architecture just in the last ten to twenty years. We may not have always had Rem Koolhaas (although Rem’s been connected to this town longer than you’d think), but we’ve always had beautiful environments, and outstanding buildings. Just look at thesepostcards of Miami and Miami Beach though the decades, from theWolfsonian Museum’s archives. They’re all about architecture and edenic landscapes, be it Art Deco, the neoclassical Beaux Arts, or Mediterranean Revival. They also show a healthy zest for the good life, which Miami has always had in spades.


read more…



Townhouse on One of NY’s Most Exclusive Gardens | Pound Ridge Real Estate

The 95-year-old Jones Wood Garden, located between Lexington and Third Avenues and 65th and 66th Streets, is accessible only via one of the 12 townhouses that surround it, and now one of those townhouses is for sale, asking $12.3 million. Forget Gramercy Park (that place is on Google Maps, for crying out loud)—this is the real super-exclusive stuff. So what if it’s mostly paved and looks a little dreary in the sole photograph?* Only 12 keys! Plus, there’s a fountain. And it was named after the family of Edith Wharton, who had previous owned the land. The townhouse itself isn’t too shabby, either.

* In an old Streetscapes from 1997, Christopher Gray writes that when the garden was first designed, “The Times said the garden foliage ‘will look best in winter.'” Hmm.


read more…



Oil Prices and Mortgages | Pound Ridge Real Estate

Oil is pushing its way down to below $47.50 per barrel as of Monday, and there’s no sign it’s going to change anytime.

Saudi Prince Al-Waleed bin Talal says in an interview today that the days of $100 per barrel oil are over.

Some worry the recent plunge in oil prices could cause home prices to slip in the oil-producing markets of Texas, Oklahoma, Louisiana, and elsewhere, writes Jed Kolko, the chief economist for Trulia (TRLA).

“But it typically takes two years for oil prices to fully affect home prices in those markets,” Kolko writes. “At the same time, lower oil prices could boost home values in the Northeast and Midwest.”

Paul Diggle, property economist at Capital Economics, says in a client note that any drag on housing in oil-driven markets from drop in demand and from decline in employment in the United States would be offset by increased consumer spending power.

“If production and employment are scaled back, housing markets in some oil-producing States, which have recently been among the most buoyant, could potentially suffer,” Diggle writes. “But any drag that this may generate will be more than offset by the wider boost to household incomes. Combined with looser credit conditions, lower oil prices should therefore give housing a boost.”

He says that the slump in oil prices could have both positive and negative effects on the housing market. The negatives are centered on the shale-oil producing states, where extraction costs over the long-run may be higher than the current $50 per barrel oil price. A dip in oil production and investment would hit jobs and ultimately housing market activity.


read more…



Teatown Lake Reservation update | #PoundRidge #RealEstate


December 10, 2014                                                          Like us on Facebook Follow us on Twitter Find us on Pinterest  View our videos on YouTubenull
Advanced Registration is required for all programs. Unless noted, all programs meet in the Nature Center and are $7 per person or FREE for members. Please register by calling (914) 762-2912 ext. 110. 

Decorate a Tree for Wildlife
Saturday, December 13
10 am – 11:30 am
Join us for a Teatown holiday tradition that celebrates nature’s gifts. We’ll decorate a tree with goodies for the birds, squirrels and other wildlife.

Pre-Count Bird Survey
Wednesday, December 17
9 am – 11 am
Meet in the Teatown parking lot to carpool to local birding hot-spots with Charlie Roberto as we conduct a pre-Christmas bird count survey. Free.

Visit Teatown
Teatown Discovers 

a Cure

Click here to help fight Nature Deficit Disorder



Holiday Birthday 

Party Special

Book a party and invite a friend to book a party and each save $25 on the booking fee. Parties may be scheduled for any date but must be booked before December 15.

Please call 914-762-2912, 110 to book your party.


Shopping on Amazon this

holiday season?

Your purchases can

help Teatown!

Click here for info.



1600 Spring Valley Road
Ossining, NY 10562


Teatown Lake Reservation’s
mission is to inspire our community to lifelong environmental stewardship.
Nature Center hours:
9 am – 5 pm daily
Trails are open 365 days a year from dawn to dusk.
Click here for Teatown membership benefits, details,
and to purchase or renew
your membership online.

Your donation can make

an immediate impact and help

support our environmental education programs and the stewardship of our 1,000 acre preserve.

Upcoming Events and Workshops:

Christmas Bird Count
Saturday, December 20
8 am – 9:30 am
Celebrate nature this holiday season by helping Teatown educators in this important census to count wintering birds. The information gathered is compiled and sent to National Audubon which uses the information to monitor trends in populations and other conservation issues that impact avian health. Free. Dress for the weather, bring binoculars and wear hiking boots.

Whoo Loves Winter?
Saturday, December 27
10 am – 11:30 am
Now is the time when great-horned owls begin to pair up and call for their mates. By mid-winter the females are sitting on eggs with snow falling on their heads. Come learn about these nocturnal winter-loving top predators, and meet one of Teatown’s great-horned owls.

Last Hike of the Year
Sunday, December 28
10 am – 11:30 am
Let’s see out the old year and welcome in the new with an invigorating hike up Teatown Hill. Dress for the weather and wear hiking boots. This hike is intended for adults only. 
In the Nature Center Gallery:


Ceramic Plates & Sculpture 

by Barbara Krohn

On exhibit December 2014

Ms. Krohn and her family have long standing connections to Teatown and we are very pleased to be hosting an exhibit of her recent works.


Click here for more info.

Teatown Highlight:

Experience! Nature
Teatown is proud to launch Experience! Nature an after-school enrichment program for Sleepy Hollow Middle School students focused on place-based learning at Peabody Preserve (a recently opened 39-acre, outdoor classroom owned by the school district and located in Sleepy Hollow). Our partners in this program include the Tarrytown Union Free School District, the Jacob Burns Film Center, Family Services of Westchester and the Friends of Peabody Preserve.


Experience! Nature is a journey of exploration and discovery, engaging students’ natural curiosity and awakening their innate ability to connect to the world around them.  Teatown educators will serve as mentors and teachers, guiding students to learn about the natural world and the environmental impacts they make where they live, while gaining insight about themselves and their relationships with their peers.


Media partner JBFC will collaborate with Teatown’s  educators and students to produce a dual-language, digital field guide to the Peabody Preserve.   The field guide will be easily accessible as a resource for the entire community.  Regular field trips in all seasons, led by Teatown to the Preserve will enable students to connect with nature, learn ecological concepts improving their ecological literacy as well as their English language skills.

Holi-daze Mini-Camp
December 29, 30, 31
The holidays are coming: when school is out and nature is in! Come for a day, or two or more of fun in the outdoors. There will be hiking, crafts, and enough adventure to keep your child  busy and active throughout the holiday season.

Like us on Facebook Follow us on Twitter Find us on Pinterest   View our videos on YouTubenull