Tag Archives: Westchester Homes for Sale

Westchester Homes for Sale

U.K. House Prices Hit Five-Year High Amid Bubble Fears | Katonah Real Estate

 

U.K. house prices rose to a five-year high in July as a controversial government support program fuels fears that another house price bubble may be in the making.

The Help to Buy program supports buyers by offering cheaper mortgages but doesn’t guarantee new housing supply. Help to Buy and increased home loans from banks using the separate Funding for Lending program enable home sellers to ask for higher prices for a short supply of residential property.

Bloomberg News

A pedestrian crosses a street between rows of residential properties in the Notting Hill district of London on July 25.

That potential mismatch between demand and supply has prompted many economists to question the wisdom of the government’s support programs, fearing that they may lead to a sharp rise in house prices that can’t be sustained over the long run.

The rise in house prices is in line with other indicators that suggest the U.K.’s long-awaited economic recovery is gaining momentum. A survey of purchasing managers at construction companies released Friday recorded a surge in activity during July.

However, with wage growth remaining below inflation, Britons are still seeing their real incomes falling. The National Institute of Economic and Social Research on Friday said that Britons are being forced to dip into their savings to maintain their living standards.

A reliance on rising house prices and spending that outstrips income growth would reprise the weaknesses that contributed to the economy’s sharp contraction in the wake of the 2008 financial crisis.

Since then, the government and Bank of England have said they want to see a more balanced economy, with growth also driven by exports and increased business investment. But that rebalancing has yet to begin.

“House prices are already overvalued, and with many first-time buyers already locked out of the market, it is unlikely they are happy at the prospect of having to take on even more debt to realize their homeownership aspirations,” said Matthew Pointon, an economist at Capital Economics.

 

U.K. House Prices Hit Five-Year High Amid Bubble Fears – WSJ.com.

Mapping New York City Neighborhoods’ Median Rents for July | Katonah Real Estate

 

zumpermedianjuly_8_13.jpg

New York City can never have too many charts and maps illustrating median rents in different neighborhoods. The folks at listings website Zumper have followed up on their May pricing map with two for July, shown above, illustrating median rents for one- and two-bedrooms in Manhattan, a few neighborhoods of Brooklyn, and Astoria. Once again, Tribeca retained its “most expensive” crown with a median price of $4,200/month for a 1BR and $7,695/month for a 2BR.

The next most expensive neighborhoods were—completely non-shockingly—Soho, with a median rent of $3,550/month for 1BRs, and Greenwich Village, at $3,500/month. The best deals were to be found on the East Side, with the Lower East Side median-ing $2,395/month and the Upper East Side $2,495/month

 

Mapping New York City Neighborhoods’ Median Rents for July – Cool Map Thing – Curbed NY.

Westchester Foreclosure Filings Surge In First Half Of 2013 | Pound Ridge Real Estate

Foreclosure filings on houses in Westchester County surged to their highest point since the housing crash of 2008, with nearly 1,500 foreclosures reported in the first half of 2013.

The Westchester County Clerk’s office reported 1,426 foreclosure actions started between Jan. 1 and June 30 of this year, as compared with 824 during the same period last year.

The number of foreclosures surpassed the number at the height of the 2008 housing crisis, when first half numbers reached 1,410 foreclosures.

Foreclosure numbers had been trending in a positive direction, with only 824 foreclosures reported in the first half of 2012. That was the lowest amount of foreclosures since 2006.

The negative foreclosure numbers come on the heels of national news that housing prices have increased 12.2-percent since last year.

Westchester County Clerk Timothy C. Idoni cautioned Westchester residents facing foreclosure in a statement to be wary of foreclosure schemes.

He recommended contacting Westchester Residential Opportunities (WRO), a non-profit housing agency with offices in White Plains and Mount Vernon to get information on foreclosures.

 

Westchester Foreclosure Filings Surge In First Half Of 2013 | The Armonk Daily Voice.

Ultimate Recycling: Relocating a House | Bedford Corners Real Estate

Watching a large house roll down the road on a truck is enough to make most of us do a double take. We tend to think of houses as being stable and stationary. With the right equipment, though, almost any house can be moved to a new location. Relocating a house is recycling on the largest scale many of us can achieve, and in addition to saving resources, this option may save you money, too.

Buying and moving a house is a possibility for anyone who finds the perfect piece of land that doesn’t include the perfect house. This scenario is especially common for homesteaders — if you’re interested in gardening, farming or raising animals, you’ll probably have to look long and hard to find land that meets your needs. Odds are not high of also getting a good house with the land you choose.

Houses are torn down all the time to make way for new highways, suburban developments or large institutions, such as an expanding hospital or university. These buildings are often sold for a song — or given away — on the condition that they’re moved off the property. The catch is that you have to pay to move a house, and even if you already own the land, you’ll have to figure in the costs of a new foundation, plumbing, utility hookups, and any other amenities. Still, moving a house can make financial sense.

Regardless of whether financial savings are your main priority, choosing an existing house is a significant way to reduce your environmental impact, because you’ll use far fewer new materials than you would if you built a new house. You may also be able to find a house with higher-quality wood and other materials than you’d likely be able to get in new construction. Or perhaps the reason you want to move a house is purely nostalgic — you’ve fallen for the charms of an older home and want to preserve it.

That was the case for Glenn and Denise Bowman. In 2006, they bought a home that was built in about 1840 and moved it to a rural property in Clarksville, Md. The house had been a fixture in their community, but it was on land owned by an auto dealership whose owners wanted to expand their business. If the house wasn’t moved, it was going to be demolished.

After falling in love with the house, the Bowmans just couldn’t let that happen. So, working through a local historic preservation organization, the couple got in touch with the building’s owners and bought it for a bargain price of $1, just enough to make it an official sale. The cost to relocate the house 3 miles was much higher — about $55,000 just for the move. That’s at the high end of what people pay for a move, mainly because the house was a three-story structure. The Bowmans say their decision to save this home has definitely been worth it — they’re enjoying restoring their house, and have blogged about it at 12 Hills. “We’re in it for the joy of it,” Glenn says. “It’s the house we want to raise our kid in.”

Read more: http://www.motherearthnews.com/green-homes/relocating-a-house-zm0z13aszsor.aspx?newsletter=1&utm_source=Sailthru&utm_medium=email&utm_term=GEGH%20eNews&utm_campaign=08.02.13%20GEGH#ixzz2b1a87aBo

 

Ultimate Recycling: Relocating a House – Green Homes – MOTHER EARTH NEWS.

5 reasons your listing won’t sell even in a seller’s market | Bedford Corners Realtor

What keeps listings from selling? In most cases, it’s the price, but it can also be due to a host of factors over which you as the listing agent have little control. What steps can you take to make sure that your listings end up “sold” rather than “expired”?

Part one of this series identified overpricing as the primary reason that a property may not sell. When a seller wants to overprice his listing, the agent has three viable options: (1) negotiate a lower price from the onset; (2) schedule regular price reductions as part of the actual listing agreement; or (3) walk away from the listing.

Even in the hottest markets where there is as a little as two months of inventory, this still means that only half of the listings sell each month and that the other half remain on the market. In order for the house to sell, even when the market is on fire, it must cross that threshold where it is in the top 50 percent of all listings in terms of price and value. If not, it can continue to sit on the market month after month with the listing ultimately expiring. So who is responsible for what in the transaction?

Factors that can’t be changed

The old adage that all that matters in real estate is location, location, location is still true. You can’t control where a property is located nor can you control the number of competing properties. Price is the one factor that takes both of these issues into account.

Buyers determine the price

– See more at: http://www.inman.com/2013/07/25/5-reasons-your-listing-wont-sell-even-in-a-sellers-market/#sthash.hZ5xQMK6.dpuf

 

 

5 reasons your listing won’t sell even in a seller’s market | Inman News.

Home of Michael Clarke Duncan Listed for $1.299 Million | Waccabuc Real Estate

A year after actor Michael Clarke Duncan died suddenly of a heart attack, his Woodland Hills home has entered the real estate market with a price tag of $1.299 million.

Located at 5616 Farralone Ave, Los Angeles, CA 91367, the residence is described in the listing as a “trust sale” of a celebrity-owned property. Records show the trust is held by Duncan’s business manager, Matthew Lichtenberg.

The house sprawls across a large lot, and like most celeb properties, is situated behind gates. The 7-bedroom, 7-bath home was purchased by Duncan in 2001 for $1.05 million. More recently, Duncan shared the home with his fiancee, controversial former “Apprentice” contestant Omarosa Manigault-Stallworth.

Built in 1979, the 6,861-square-foot home includes a media room, built-in fish tanks, formal dining room and wet bar. Other features are a 3-car garage, additional subterranean parking garage with room for 10 more vehicles, basketball sport court, pool, spa and barbecue area.

Duncan became an actor in a serendipitous way. He started out as a bodyguard when he first headed to Hollywood, but snagged a bit role in “Armageddon” that launched his career, leading to his breakout part in “The Green Mile.”

 

 

Home of Michael Clarke Duncan Listed for $1.299 Million | Zillow Blog.

With Home Prices Soaring, Has Success Spoiled San Francisco? | Cross River Real Estate

Joe Kelso and John Winter probably waited too long. The couple has been together for a dozen years but only got serious recently about buying a house in San Francisco.

They saved enough to be able to afford anything under $500,000, but houses at such prices are now few and far between.

This spring, the median home price in San Francisco topped $1 million, up by a third from last year.

There are still houses listed for under $400,000, but that’s just to get the bidding going. Those types of properties will sell for more than $500,000, while still requiring maybe $100,000 worth of work.

A T-shirt for sale reflects the sentiments of people who find the cost of living in San Francisco too high.

Alan Greenblatt/NPR

“By the time we made our first offer in February, prices had shot up $100,000 to $150,000,” Winter says. Since then, they’ve been outbid seven more times.

Their experience has become typical. With San Francisco drawing both employees and tech companies from Silicon Valley, houses have become an unaffordable luxury for people in the middle class and even the very highly paid.

It’s changing a city historically known as friendly to outsiders wanting to pursue alternative lifestyles. That’s harder to do in an environment where brokers speak blithely of $600,000 and $700,000 “starter homes.”

With people unable to afford San Francisco, prices are jumping in neighboring cities such as Oakland as well.

“Buyers are facing frustration,” says Colleen McFerrin, a real estate agent. “Prices are going up and when they lose one or two [houses] they begin to panic.”

Higher Costs All Around

San Francisco has long attracted waves of people seeking a pleasant, progressive life — immigrants and hippies, gays and beatniks.

Jorge Cino, an aspiring fiction writer, was drawn all the way from Argentina. “I loved the city and I did love its bohemian, reckless culture,” he says.

 

 

With Home Prices Soaring, Has Success Spoiled San Francisco? : NPR.

How cat videos are changing the world [VIDEO] | Mt Kisco Real Estate

As YouTube’s former director of product, Hunter Walk can explain how cat videos and other “viral” content are changing the world.

For real estate professionals, the implications are deeper than the phenomenon of viral videos. The rapid increase in the spread of information and feelings of connectedness engendered by social media are changing the nature of citizenship itself.

Walk knows his stuff, having joined Google in 2003 where he also managed product and sales efforts for the search giant’s contextual advertising business. He was also a founding member of the product and marketing team at Linden Lab, the creators of online virtual world Second Life.

Hunter Walk, YouTube’s former director of product, talks about “How Cat Videos Are Changing the World: Global Media & Global Citizenship.” (18:38).

– See more at: http://www.inman.com/2013/07/22/how-cat-videos-are-changing-the-world-video/#sthash.PKAUmhXy.dpuf

 

How cat videos are changing the world [VIDEO] | Inman News.

Country Star Ronnie Dunn Buys in Nashville | Bedford Real Estate

If you aren’t a big enough fan of country music to have heard of Ronnie Dunn, perhaps the name Brooks & Dunn rings a bell. Dunn, who was one-half of the former country duo (he and Kix Brooks split after 20 years to pursue solo careers) just purchased a house with his wife in Nashville, according to property records and a report by the Real Estalker blog.

Nashville, obviously, is the capital of country music, and it’s no surprise to find a country musician picking up a new place within its city limits. This is the third home the Dunns have purchased in Nashville; they also own a condo, as well as an equestrian farm.

The Dunns’ new property sits on just under 6.5 acres. Rather than the traditional style most commonly found in the area, this home is a neoclassical-designed home by Palm Beach architect John L. Volk.

Measuring 5,751 square feet, the house has 5 bedrooms and 4.5 baths. Enormous windows, tall ceilings and indoor-outdoor living spaces add to the home. The grounds includes a barn and stable, guest cottage and lush, traditional garden surrounded by boxwood.

 

 

 

Country Star Ronnie Dunn Buys in Nashville | Zillow Blog.

Chicago Property Once Part of Original Playboy Mansion for Sale | Cross River Real Estate

Before the Playboy Mansion was in a location beneath palm trees and the Hollywood sunshine, it was on the Gold Coast in Chicago. Today, the original mansion holds condos, and one of the connected properties is currently on the market for $7.85 million, according to the Huffington Post.

Hugh Hefner bought the limestone-and-brick building at 1340 N State Parkway in 1959, shortly after his divorce. Newly single and pouring money into his new Playboy Magazine, Hefner wanted to create a space for people to live out the lifestyle showcased in the publication. The historic mansion was just the place.

Built in 1899 for a prominent Chicago doctor, the mansion had previously entertained prestigious guests, including Theodore Roosevelt. The kind of guests Hefner envisioned for the home were slightly different. He created an enormous ballroom, measuring 60 feet by 30 feet, added an indoor pool, underwater bar accessed by a fireman’s pole and furnished suites for live-in guests. The house also included a game room, movie theater, steam room and tanning beds.

For several years the home and the nearby Playboy Club were at the height of popularity, with well-known celebrities, writers and artists continually dropping in to party. However, by the 1970s, the death of a friend and following drug investigation led Hefner to spend more and more time in Hollywood, where he had purchased another mansion. In 1984, Playboy lent the Chicago mansion to the School of the Art Institute, and in 1993 the house was finally sold to developers, who turned the residence into condos.

No evidence of the pool, underwater bar or any of the other Playboy amenities remain. The particular property for sale today — located at 1336 N State Parkway, Chicago, IL 60610 — was once connected to the Playboy Mansion; the original owner built the home for his daughter.

Measuring 9,000 square feet, the home has 5 bedrooms, 7 baths and according to the listing, was updated with “no expense spared.”

 

Chicago Property Once Part of Original Playboy Mansion for Sale | Zillow Blog.