Tag Archives: Westchester Luxury Real Estate

Westchester Parks this weekend | Westchester Real Estate

WESTCHESTER COUNTY, NY — Looking for something to do for the weekend? Here’s a list of events at Westchester’s public parks.

Friday, June 16
Playland Park, Playland Parkway, Rye – (914) 813-7010
$15 Friday Nights – 5 p.m. – 10 p.m.
All rides $15 from 5 p.m. to closing. Parking fee applies.

Croton Point Nature Center, Croton Point Avenue, Croton-on-Hudson – (914) 862-5297
Riverlovers Pot Luck Supper – 6 p.m. – 8:30 p.m.
Sign up to help out at the Clearwater Festival. Info at Riverlovers.org.

Muscoot Farm, Route 100, Somers – (914) 864-7282
Muscoot Movies – 8:30 p.m. – 10 p.m.
Enjoy a late night movie in the historic barn. Title to be announced.

Saturday, June 17
Edith G. Read Wildlife Sanctuary, Playland Parkway, Rye – (914) 967-8720
Volunteer Corps Work Day – 10 a.m. – 2 p.m.
Invasive plant removal, trail maintenance, beach clean-up and more.

Trailside Nature Museum at Ward Pound Ridge Reservation, Routes 35 and 121 South, Cross River – (914) 864-7322
Orienteering for Kids – 1 p.m.
Children ages 10 to 12 can learn how to find their way through guided waypoints along the trail. Registration required.

Cranberry Lake Preserve, Old Orchard Street, North White Plains – (914) 428-1005
Orienteering Scavenger Hunt – 1 p.m. – 2:30 p.m.
Find hidden flags at the preserve by using only a map and compass.

Marshlands Conservancy, Route 1 (Boston Post Road), Rye – (914) 835-4466
Volunteer Work Project: Removing Tidal Debris from the Salt Marsh – 1 p.m. – 3 p.m.
Bring work gloves; hand tools provided. Great for any type of service credit hours.

Saturday and Sunday, June 17 and 18
Lasdon Park, Arboretum and Veterans Memorial, Route 35, Somers – (914) 864-7268
Opening of the New Lasdon Conservatory: “The Rainforest: Tropical Treasures” – 10 a.m. – 4 p.m.
Grand opening of the new conservatory with tours, entertainment, face painting, food for sale and more. Admission: $10 adults, $5 children. Info at LasdonPark.org.

Croton Point Park, Croton Point Avenue, Croton-on-Hudson – (914) 864-5290
Clearwater Festival – 11 a.m. – 8:45 p.m.
Music and environment festival. Tickets at Clearwaterfestival.org.

Muscoot Farm, Route 100, Somers – (914) 864-7282
Art Show – Noon – 4 p.m.
Works by local artist Hope Friedland on view in the Main House Gallery on weekends through June 25.

Sunday, June 18
Muscoot Farm, Route 100, Somers – (914) 864-7282
Farmers Market – 9:30 a.m. – 2:30 p.m.
More than 20 vendors offer fresh produce and local food products every Sunday through October. Vendors at muscootfarm.org.
Big Equipment Day – 1 p.m. – 3 p.m.
See the equipment that is used to get some of the biggest jobs done at the farm.

Bronx River Parkway, White Plains to Yonkers – (914) 995-4050
Bicycle Sundays – 10 a.m. – 2 p.m. (Weather permitting)
Parkway closes to vehicular traffic for the exclusive use of cyclists, walkers, joggers and those with strollers, from the Westchester County Center to Scarsdale Road, a 13.5-mile loop. Parking at the County Center. Also 6/25.

Ridge Road Park, 287 Ridge Road, Hartsdale – (914) 946-8133
Portuguese-American Heritage Festival – (914) Noon – 7 p.m.
Music and dance, arts and crafts and food vendors.

Playland Park, Playland Parkway, Rye – (914) 813-7010
Father’s Day at Playland – Noon –10 p.m.
Dads ride free, families pay $15 for unlimited rides all day.

More info at parks.westchestergov.com.

Serious Delinquency Rate on Single-family Mortgages Continues to Drop | Bedford Real Estate

In its quarterly National Delinquency Survey, the Mortgage Bankers Association reported that 3.11% of 1-4 family mortgages were seriously delinquent in the second quarter of 2016. Measured on a not seasonally adjusted basis, the rate of serious delinquency, which includes both mortgages that are 90 or more days past due and mortgages in foreclosure, was 0.84 percentage point less than the 3.95% recorded in the second quarter of 2015. Since reaching a peak of 9.7% in the fourth quarter of 2009, the serious delinquency rate has experienced a steady decline. The current rate of serious delinquency was last seen in 2007.

The decline in the overall serious delinquency rate partly reflects a falling rate on conventional mortgages. Conventional mortgages include both prime and subprime mortgages. In the fourth quarter of 2009, the share of conventional mortgages that were considered seriously delinquent reached its zenith at 9.8%. Since then, the proportion of conventional mortgages considered seriously delinquent has steadily fallen, reaching 2.9%. However, despite the long decline, the serious delinquency rate on conventional mortgages remains above its 2005-2006 average, 1.6%.


The decrease in the serious delinquency rate overall also reflects a drop in the rate on FHA mortgages. Although the rate of serious delinquency on FHA-insured mortgages also peaked in the fourth quarter of 2009, it did not begin to record a sustained decline until 2012. As of the second quarter of 2016, the serious delinquency rate on government mortgages was 4.4%, 1.5 percentage points greater than the serious delinquency rate on conventional mortgages. Although the serious delinquency rate on FHA-insured mortgages is higher than the rate on conventional mortgage, it is lower than its average level between 2005 and 2008.

The serious delinquency rate has been dropping partly because the number of new 90 or more day delinquent mortgages has also been falling. According to the most recent version of the Federal Housing Administration’sSingle-family Loan Performance Trends, the number of new 90 or more day delinquencies has been falling since 2012, largely reflecting a decrease in the number of new delinquencies 90 or more days because of unemployment or income reduction.

As illustrated by Figure 2 below, in fiscal year 2012, approximately 233,000 of the roughly 500,000 loans that were delinquent 90 or more days reached that stage because the borrower experienced unemployment or an income reduction*. By 2015, the number of new FHA-insured mortgages that were 90 or more days delinquent fell to 136,000. Meanwhile, the number of FHA loans delinquent 90 or more days due to excessive obligations, the second largest category, fell by 15% between 2012 and 2015, but number of these delinquencies in each year between 2013 and 2015 has remained near its 2011 level. The decline in the new number of borrowers delinquent 90 or more days due to unemployment or income reduction over the 2012 to 2015 time period accounted for 65% of the total decrease in the number of new FHA-insured mortgages 90 or more days delinquent over this same period.


* This document from the Department of Housing and Urban Development provides definitions of each category.

Unemployment – The delinquency is attributable to a reduction in income resulting from the principal mortgagor having lost his or her job.

Income Reduction – The delinquency is attributable to a reduction in the mortgagor’s income, such as a garnishment of wages, a change to a lower paying job, reduced commissions or overtime pay, loss of a part-time job, etc.

Death of Principal Borrower – The delinquency is attributable to the death of the principal mortgagor.

Illness of Principal Borrower – The delinquency is attributable to a prolonged illness that keeps the principal mortgagor from working and generating income.

Excessive Obligations – The delinquency is attributable to the mortgagors(s) having incurred excessive debts (either in a single instance or as a matter of habit) that prevent him or her from making payments on both those debts and the mortgage debt.

No Contact – Should be used rarely for any 90 day or more delinquency.  Indicates that the reason for delinquency cannot be ascertained because the mortgagor cannot be located or has not responded to the servicer’s inquiries.


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Buy Julia Roberts’ Hanalei Bay Estate in Kauai, Hawaii for $30 Million | North Salem Real Estate

Julia Roberts has listed her Hanalei, HI estate with more than 200 feet of beachfront for $29.85 million, Pacific Business News reports.

The estate, which the actress bought for $13.4 million in 2011, is called “The Faye Estate” for the sugar plantation manager who bought it in 1915, four decades before Hawaii became a state.

“H.P. Faye had the vision and the finances to purchase not one but two lots in the best part of the Bay,” according to the listing, which is held by Neal Norman of Hawai’i Life Real Estate Brokers.

The 2-acre property has views “mauka and makai,” meaning toward the mountains and seaward.

The 3,792-square-foot home was built in 1946 and has 7 bedrooms and 4 bathrooms. Building may be permitted for up to 9,000 square feet for more buildings and a pool.


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Two charts show where Americans stand on housing | Waccbuc Homes


More than two in five adults believe that the housing market continues to be a serious problem, according to a recent survey from the MacArthur Foundation on people’s attitude toward the housing crisis.

chart 1

(source: MacArthur Foundation: click image for larger view)

The survey polled a sample of 1,355 people in April 2014.

“While economists and housing experts say that the housing crisis is behind us, large proportions of the American people are not feeling the relief. Very high proportions of the public continue to believe that we are still in the midst of the housing crisis or that the worst is yet to come,” the report stated.

And this is not the only negative news for the market.

Two-thirds of the public believes that it is less likely today than it was 20 or 30 years ago for a family to build equity and wealth through homeownership.

But it is not all bad. Some indicators suggest that the American public’s views about the housing crisis are shifting slightly toward the positive.

“We see an uptick in the proportion of the public who believe that the housing crisis is behind us and a decrease in the proportion who characterize the housing market as a serious problem,” the report said.

“However, even with these shifts, concerns about housing continue to outweigh optimism, and the public has a real sense that affordable housing is a challenge for many Americans,” it added.



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5 Ways to Sell Your Home Faster This Spring | Armonk NY Homes


A polar vortex may still have much of the country singing the winter blues, but real estate experts say it’s not too early to prep for – the busy spring and summer selling season.

Sellers who get their homes listed early in the season actually have a better shot at closing a deal and doing so at a better price. While peak season varies by region, home asking prices peak nationally in May and inventory peaks in the summer – but buyers tend to start searching for homes as early as March, according to Trulia data.

“Buyers wake up from hibernation before sellers do,” says Trulia housing analyst Jed Kolko. “Sellers who list earlier may get higher prices and face less competition.”




The ‘McMansion’ is back | Armonk NY Real Estate


Though the reign of the “McMansion” appeared to crumble during the housing crisis, demand for big homes has surged recently, The New York Times reports.

The average size of a new home reached an all-time high in 2012, and sales of homes costing more than $1 million leaped nearly 50 percent year over year in July 2013, according to The Times.

“The housing market is being driven by the move-up buyer, the luxury buyer,” Brad Hunter, chief economist and director of consulting at Metrostudy, told The Times. “And those who have strong incomes, secure jobs, their stock portfolio is doing well — they are able to buy whatever they want. And what they are buying is larger houses.”

Source: The New York Times

– See more at: http://www.inman.com/wire/the-mcmansion-is-back/?utm_source=20140127&utm_medium=email&utm_campaign=dailyheadlinespm#sthash.eqeZnSWh.dpuf

Should You Rent or Sell Your Home? | North Salem Real Estate


Ryan Severino liked the location of his family’s home in Scotch Plains, N.J., but he also thought they needed more space. So in the summer of 2011, they decided to buy a bigger house. Mortgage interest rates were down, and so were home prices. “We were outgrowing our house,” Severino says. “We didn’t want to wait for prices to go back up.”

But one thing he didn’t realize was exactly how long it would take to sell the first house or to rent it, if that turned out to be the better option. “It comes down to more than pure economics,” says Severino, senior economist and associate director of research at Reis, Inc., a real estate research firm.

Finally, in the spring of 2012, eight or nine months later, Severino found a buyer for the first house. In the interim, Severino weighed the pros and cons of renting versus selling, and he reflected on the decision he ultimately made. “It was tough to sell it in that market,” Severino says. “We had the house on the market for sale while we were getting inquiries for renting it.” But Severino knew he didn’t want to be a landlord, and “didn’t want the money tied up in the house.”

Determining whether a property is a good investment takes research and analysis, and it’s wise to take your time in making the decision because it’s a major one, real estate experts say.




For Sale: Mid-Century Homes With Modern Upgrades | Mt Kisco NY Real Estate


Mid-century modern homes are just as popular as ever: furniture stores are lined with sleek, retro pieces, and designers are showing off their “Mad Men” flair on Zillow Digs. But shopping for an architectural gem doesn’t mean you have to forgo contemporary amenities. Here’s a look at a few homes currently on the market combining classic mid-century style with tasteful upgrades.

Phoenix, AZ

4832 E Virginia Ave, Phoenix, AZ For sale: $269,900

Phoenix, AZPhoenix, AZ - 2

Built in 1957, this Phoenix mid-century residence has been completely remodeled with a new kitchen layout, maple cabinets, granite countertops, stainless steel appliances, modern bath fixtures and an indoor-outdoor entertaining space separated by a glass garage door. The home first hit the market in September 2013; its list price was dropped by $1,000 in December.




Q4 California Foreclosures Hit Lowest Mark in Eight Years | Bedford Hills Real Estate


The number of California homeowners pulled into the formal foreclosure process dropped to an eight-year low last quarter, the result of an improving economy, foreclosure prevention efforts and higher home prices, according to DataQuick. A total of 18,120 Notices of Default (NoDs) were recorded by lenders and their servicers on California owners of houses and condos during the October-through-December period. That was down 10.8 percent from 20,314 for the prior quarter, and down 52.6 percent from 38,212 in fourth-quarter 2012. Last quarter’s tally was the lowest since 15,337 NoDs were recorded during fourth-quarter 2005. NoDs peaked in first-quarter 2009 at 135,431. DataQuick’s NoD statistics go back to 1992.

“Some of this decline in foreclosure starts stems from the use of various foreclosure prevention efforts – short sales, loan modifications and the ability of some underwater homeowners to refinance. But most of the drop is because of the improving economy and the increase in home values. Fewer people are behind on their mortgage payments. And of those who do get into trouble, many, if not most, can sell and pay off what they owe. Also, those who are underwater and close to slipping into foreclosure are far less likely to give up their homes now that appreciation has returned to the housing market. There’s a strong incentive to hang on,” said John Walsh, DataQuick president.



North Castle Police Chief is accusing a Lieutenant of falsifying overtime | Armonk Real Estate


North Castle’s police chief is accusing a lieutenant of corruption and the town administrator of attempting to soil his reputation, according to LoHud.com.

Chief Geoffrey Harisch filed a complaint that claims Lt. William Fisher attempted to falsely claim overtime and that he told Town Administrator Joan Goldberg about the attempted time theft during a secret meeting in 2012, LoHud.com reported.