Tag Archives: Westchester NY Homes

Westchester NY Homes

Tennis Great John McEnroe Buys Another Malibu Home | Armonk Real Estate

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It’s a case of real estate love, which is far better than “love” in tennis.

Tennis star John McEnroe, best known for winning seven Grand Slam titles, has bought a Malibu home just six miles from his other Malibu residence, Real Estalker blog first reported.

His new beachy digs is a California ranch-style home on 1.5-acres off the Pacific Coast Highway. The home does not sit right on the beach — which makes sense considering McEnroe and wife Patty Smyth paid just $3.345 million — but reportedly does come with deeded access to one of Malibu’s most desirable beaches.

According to the listing, the 1960s-built home offers 2,800 square feet of living space, 4 bedrooms and 3.5 baths. An open floor plan leads from an updated, gourmet kitchen to a great room with vaulted ceilings. Outdoor living spaces include a kitchen and firepit.

It’s hard to say what McEnroe will do with his other Malibu home, just a few miles down the road. He could keep it as a rental or try to hop on the sellers’ market.

 

 

Tennis Great John McEnroe Buys Another Malibu Home | Zillow Blog.

Outdoor Shakespeare Festival In Mount Kisco Starts Friday | Bedford Real Estate

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You can spend a mid-summer’s evening watching Shakespeare’s A Midsummer Night’s Dream at Westmoreland Sanctuary this weekend.

The 60-minute, family-friendly adaptation will be performed four times: Friday, July 26 at 6:30pm; Saturday July 27 at 2:00pm and 6:30pm;  and Sunday July 27 at 1:00pm.

The grounds will open 90 minutes ahead of the performances for picnicking.  The evening performances will end with a marshmallow roast around a campfire.

Tickets are $17.50 for Westmoreland Sanctuary members and $20 for non-members.  Contact Michele Miller at MMiller@WestmorelandSanctuary.org for more information.

 

Outdoor Shakespeare Festival In Mount Kisco Starts Friday | The Bedford Daily Voice.

Housing market: Broward’s median price rises 23 percent | Waccabuc Real Estate

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Broward County home sellers enjoyed more pricing power in June.

The county’s median price for existing single-family homes hit $265,000, a 23 percent increase from a year ago, the Greater Fort Lauderdale Realtors said Monday.

It was the seventh consecutive month that the median jumped by more than 20 percent. Home sales rose 3 percent, to 1,356.

Broward’s median condominium price last month rose 22 percent to $105,000. But condo sales declined 9 percent from June 2012.

“At one time, buyers thought they could do what they want, when they wanted, but they’re realizing now that they don’t have the control they once did,” said Carrie Hazen, a real estate agent with Coldwell Banker in northwest Broward.

Palm Beach County and statewide figures were not released Monday because of a technical problem. Those numbers are expected Tuesday.

The median price means half the properties in Broward sold for more and half for less. The percentage increase does not reflect all home values countywide.

Sellers of single-family homes last month received 96 percent of their list prices, up from 93 percent a year earlier, the Realtor group said. The typical Broward home went under contract in 29 days, down from 37.

Ken H. Johnson, a professor at Florida International University’s Hollo School of Real Estate, said some prospective buyers are frustrated by the recent price increases and are staying out of the market. But he doesn’t recommend that strategy.

“A lot of people are upset that they missed the bottom. Yes, but big deal,” Johnson said. “Prices are still affordable. Nobody should be waiting.”

A shortage of homes for sale and an abundance of investors have helped fuel the housing recovery.

Broward had 4,225 homes on the market at the end of June, down 14 percent from a year ago. 

Large investment firms, including Blackstone Group and Waypoint Homes, are buying thousands of homes in South Florida and across the country. The firms are pushing prices higher while keeping homes out of the hands of first-time and move-up buyers.

 

Housing market: Broward’s median price rises 23 percent – South Florida Sun-Sentinel.com.

Higher Rates Aren’t Enough to Stall Housing | Katonah NY Homes

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The U.S. housing recovery that began unfolding early last year faces its first serious test: In the span of just two months, mortgage rates have jumped by a full percentage point, something that has happened only twice since 1994.

Mortgage rates, which at the beginning of May stood at 3.59% for the average 30-year fixed-rate loan, jumped to 4.68% during the first two weeks of July, the latest available data, according to the Mortgage Bankers Association. That is the highest level in two years.

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Bloomberg News

A ‘sold’ sign outside a home in LaSalle, Ill., last month. Economists say that even at a 4.5% or 5% mortgage rate, housing is still affordable by historical standards.

Economists say that even at a 4.5% or 5% mortgage rate, housing is still affordable by historical standards—and that rates could rise to 6% or prices could rise an additional 20% before housing would become unaffordable relative to historical levels.

The spike nevertheless represents a big payment shock for would-be buyers. Many shop for a home based on their monthly mortgage payment. The monthly payment of principal and interest—and not including taxes and insurance—on a $200,000 home with a 10% down payment just went up by more than $100, to $925, while the monthly cost of a $450,000 home just went up by around $250, to $2,095.

“That’s extremely meaningful. It is putting people on the sidelines that were really at the margins of being able to qualify,” said Ronald Peltier, chief executive of HomeServices of America Inc., which owns real-estate brokerages in 21 states.

Some agents say it’s possible that rising rates will spur purchases by dawdling buyers who had already decided they were going to buy a home. But mortgage bankers say it’s rare that higher rates actually generate net new demand.

 

Higher Rates Aren’t Enough to Stall Housing – WSJ.com.

Give unrealistic sellers the ‘shock treatment’ | Bedford NY Homes

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There’s an old saying that it’s best to be the first born, second spouse and the third listing agent. So whose fault is it when a property doesn’t sell?

There are thousands of reasons that cause listings to expire. An agent may do everything possible and the property still doesn’t sell due to lack of activity in that price range or location. Other times, the listing agent didn’t market the property adequately, or conditions under the seller’s control prevented the sale. In almost every case, however, the reason most properties do not sell is the price.

A major misconception

Many people, including a large number of real estate professionals, fail to realize that it is the buyers (and sometimes the appraisers) who determine the selling price, not the sellers or agents.

The stock market provides a good analogy for understanding this situation. Assume that an investor paid $100 for a share of IBM stock. Today that stock is trading at $60 a share. If the investor insists on getting $100 a share, he will have to wait to sell until the market conditions improve. Otherwise, if he must sell now he will need to reduce his price to $60 a share.

The same is true for the real estate market. If someone paid $225,000 for a home and today similar homes are selling for $180,000, the owner has the same choices as the investor in the example above: sell at today’s prices or wait for the market to improve.

– See more at: http://www.inman.com/2013/07/22/give-unrealistic-sellers-the-shock-treatment/#sthash.IKPvdyVR.dpuf

 

Give unrealistic sellers the ‘shock treatment’ | Inman News.

Real estate market in China picks up in June | Pound Ridge NY Homes

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Real estate climate edges lower in May

In June 2013, China’s real estate climate edged up slightly from 97.29 in May to 97.29. The composite index was developed by China’s National Bureau of Statistics, and it measures the aggregate business activity for land, capital, and sales of real estate, which is useful in showing the trend of the Chinese real estate market. Figures above 100 show prosperity or economic growth, whereas figures below 100 mark depression.

Lower figures have followed the implementation of property tightening measures, as the government raised concerns regarding rising property prices in February. These measures include restricting loans to real estate developers and individual buyers, as well as imposing taxes on home sales. As a result, the real estate climate index has been falling for the past few months.

Short-term negative in a long-term up trend

The rebound, whether temporary or not, is encouraging news for dry bulk shipping companies such as DryShips Inc. (DRYS), Diana Shipping Inc. (DSX), Knightsbridge Tankers Ltd. (VLCCF), Navios Maritime Partners LP (NMM), and Eagle Bulk Shipping Inc. (EGLE). While activity has fallen over the past few months, which was a negative, the light weakness (marked by slight declines rather than large drops) suggests the government doesn’t plan to hurt the real estate market. As current levels are below the post-2000 average of 102, long-term fundamentals remain favorable. The fact that the real estate climate isn’t falling sharply suggests the long-term trend remains intact.

 

Real estate investment turnaround

Furthermore, investments in real estate development during the first five months of 2013 remain solid. Perhaps more interestingly, the growth rate of land purchased by real estate enterprises jumped significantly from -22.8% during January to March 2013 to -8.6% during January to April compared to the same periods in 2012. January to June’s data is also encouraging.

While several industries tied to the real estate sector, such as iron ore and coal, have fallen due to current weakness in China’s real estate sector, it’s unlikely that the government will enforce a much tighter policy that will hurt the broader economy. Current data also shows the government isn’t willing to do so. This would be positive for investors who are seeking long-term investments in shipping companies, as demand for dry bulk imports—such as iron ore and coal—should continue to grow over the long run.

 

 

Real estate market in China picks up in June, good sign for dry bulk shippers – Yahoo! Finance.

How to Lock in Savings as the Real Estate Market Heats Up | Mt Kisco Real Estate

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Home prices in the U.S. rose 12.2% year over year in May 2013 according to CoreLogic (www.corelogic.com), which provides data on the real estate markets, and they were up 2.6% from April to May. Home prices rose in all but two states in May.

At the same time that home prices are soaring, interest rates are on the rise, with the average 30-year fixed rate mortgage currently now well over 4%, according to Bankrate.com (www.bankrate.com/mortgage)

Given these trends, some homeowners may think that it is too late to take action to save money on some of the largest home-related expenses. That is not necessarily so. In fact, even with home prices and interest rates up, there are still plenty of money-saving opportunities that could save homeowners hundreds or even thousands of dollars.

Refinance

It is not too late to refinance a mortgage. Sure, mortgage rates have risen somewhat, but they remain low historically. Depending on a homeowner’s situation, there are several possibilities to lower monthly payments by refinancing. For example, refinancing might make sense for:

A homeowner who expects to be in his home indefinitely and who still has a mortgage with an interest rate well above what is available in today’s market. Although a rule of thumb once was that for a refinance to make financial sense, it needed to result in at least a one percentage point reduction in the mortgage rate, in fact, depending on the upfront cost of the refinance, the reduction in monthly payment, and how long the homeowner expects to own the home, even a lesser reduction could be a big money-saver over time.

A homeowner who doesn’t expect to own his home more than five to seven years and can lower his rate by refinancing to a five-year or seven-year adjustable rate mortgage (ARM).

A homeowner who believes that interest rates are likely to continue to go up and, therefore, who wants to refinance an ARM to a fixed rate loan.

Reassess

If a homeowner did not get the value of his home lowered for tax purposes after the real estate bubble burst and, therefore, still is paying taxes on an assessment that is well above the current market, the rebound in real estate values should be a wake-up call that now is the time to take action. Even though real estate prices are up, in many (if not most) markets, they are still well below their peaks, so for many homeowners, the opportunities to lower property taxes as a result of a reassessment could be substantial.

 

First Person: How to Lock in Savings as the Real Estate Market Heats Up – Yahoo! Finance.

Con Ed Warns Armonk Residents To Conserve Electricity Usage | Armonk NY Homes

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Con Edison is asking its Westchester and New York City customers to conserve their electricity usage as sweltering heat and humidity continue to bake the area.

Electricity usage was near an all-time peak, reaching 13,161 megawatts Thursday evening, Con Edison reported of its coverage area.  The all-time electric peak record was set in July 2011 at 13,189 megawatts.

Con Ed said its crews continue to work to restore customers affected by scattered power outages due to this week’s heat wave. When it comes to superior HVAC services in the Jacksonville, FL, area, we’re at the top of our class. From heating and cooling to indoor air quality and maintenance plans, you’ll always receive grade-A service when Buehler Air Conditioning arrives at your front doorstep. If you are looking for the top air conditioning repair companies in jacksonville fl then visit us today.

The power company would like to remind customers to use these energy and money-saving tips:

  • Install a timer or clock thermostat on your air conditioner with the help of United PLumbing Heating Air & Electric, so you can program it to operate and shut-off at a pre-determined time. Air conditioning is among the systems that keeps each and every New York home as comfortable as possible. Especially on hot summer months, air conditioners are among the cores from where the quality of indoor living greatly depends on. So whether you are in Long Island, Manhattan, Brooklyn, Staten Island, or Queens; it pays to learn more about these types of appliances to maximize indoor comforts, save more money and even help in the reduction of environmental pollution. By definition, air conditioners may refer to single appliances or a whole system that keeps an area cool through extraction of heat and blowing them back as cooler air. When you need a high quality system installed, look no further than Landmark Air. Providing annual services, repairs, replacements, supply and installation for Canberrans ducted and split systems. For landmark air services, you can check out LandmarkAir.com.au site.
  • This cycle is known as refrigeration. The process that these appliances do makes up the complete HVAC system that results to a more livable home. Preparing your home for the scorching summer months or brutal winter months is crucial. Taking the time to inspect your appliances, schedule maintenance checks, and invest in HVAC repair will prevent a crisis. Checking the air filters on an HVAC will help keep the appliance running well. Along with regularly changing the air filter, it’s important to check fuses and capacitors. A HVAC repair professional can fix any of these small problems, as well as any larger issues if you don’t feel comfortable fixing it yourself. While it’s important to keep your appliance running in great shape, so is making improvements around the house to prevent drafts and lower energy cost.
  • If you have a room air-conditioning unit, close off the rooms not being used; if you have central air, block off the vents for un-used rooms. The room air conditioning appliances is Also known as window air conditioner units, these appliances ideally provide cooling for small spaces only. Though their efficiency may be considered lower than other types, the operating costs are not as expensive. These types are commonly used by hotels, inns and other hospitality businesses and for rooms in the house that are seldom used due to its plug in and out feature-providing cooling only when needed.
  • Plan cooking, baking or other household activities that produce heat and humidity for the cooler times of the day and night.
  • Use a portable or ceiling fan to circulate the pre-cooled air in your air-conditioned home. A fan uses about 90 percent less energy than an air conditioner.
  • In very humid weather, adjust your air conditioner’s fan to a low setting. It’ll take longer for the air conditioner to cool your home, but your unit will bring in steamy air at a slower rate and make you feel more comfortable. Appliance repair is inevitable, especially when your appliances get old or are excessively overused. Of all the appliances AC, HVAC, and Refrigerator are the most heavily used equipment that often breakdown. Although there could be many service providers that offer AC repair, HVAC repair, and Refrigerator repair not all of them can be trusted with these expensive pieces of machinery.
  • Pull your curtains and shades on windows to block out the heat.

Con Ed Warns Armonk Residents To Conserve Electricity Usage | The Armonk Daily Voice.

Realtors lose bid to throw out rival application for ‘.MLS’ domain | Waccabuc Real Estate

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An arbitration panel has rejected a plea from the Canadian Real Estate Association to throw out a competing application for a .MLS top-level domain on the grounds that “MLS” is a generic term in English-speaking countries.

Last year, CREA — the National Association of Realtors’ counterpart in Canada — applied to the Internet Corporation for Assigned Names and Numbers (ICANN) to create and manage a new .MLS top-level domain. CREA’s application has the backing of the MLS Domains Association, a nonprofit group of 55 U.S. multiple listings services representing more than 600,000 agents and brokers.

In early 2011, ICANN, which manages the Internet’s domain name system, launched a process to allow the creation of potentially hundreds of new top-level domains. Examples of top-level domains common today include “.com” and “.org.”

If ICANN approves a “.MLS” top-level domain, CREA and the MLS Domains Association want CREA to be in charge of managing it. Consumers, the groups say, should have a way of distinguishing between websites operated by industry professionals from those maintained by third parties.

Although the MLS Domains Association had originally planned to file an application with ICANN to create and manage the .MLS top-level domain, CREA is taking the lead because CREA’s ownership of the trademarks for “Multiple Listing Service” and “MLS” in Canada were thought to make the trade group a stronger applicant. NAR has applied to ICANN to create and manage several new top-level domains including “.Realtor,” a term it has trademarked.

If granted authority to manage the “.MLS” top-level domain, “only members of CREA and its foreign affiliates will be permitted to register .MLS websites,” CREA said in its ICANN application.

– See more at: http://www.inman.com/2013/07/19/realtors-lose-bid-to-throw-out-rival-application-for-mls-domain/#sthash.5JwkCYdd.dpuf

 

 

Realtors lose bid to throw out rival application for ‘.MLS’ domain | Inman News.

What $1,800/Month Can Rent You Around New York City | Bedford Corners Real Estate

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Welcome back to Curbed Comparisons, a column that explores what one can rent for a set dollar amount in various New York City neighborhoods. Is one man’s studio another man’s townhouse? Let’s find out! Today’s price:$1,800/month.

↑ On Eighth Avenue at West 132nd Street in Harlem, a newly gut-renovated 2BR/2BA is going for $1,895/month. It has central air, recessed lighting, and a big skylight.

↑ In Midtown East, a spacious, 625-square-foot first-floor 1BR is available for$1,850/month. In addition to the over-200-square-foot living room (completely separate from the bedroom and kitchen) there are three closets.

↑ Located more or less on the border of Crown Heights and Flatbush, acolorful, 950-square-foot 2BR on the third floor of an elevator co-op building is asking $1,850/month.

↑ Live in a cool computer hacker (or music producer) bedroom in this 440-square-foot studio with “defined bedroom space” on the Upper East Side. It’s asking $1,800/month and is a walkup on the fourth floor.

 

 

What $1,800/Month Can Rent You Around New York City – Curbed Comparisons – Curbed NY.