Tag Archives: Westchester Real Estate

Early Bedford Town Primary Election Results | Bedford NY Homes

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The results are in for several primary elections in Bedford races for supervisor, town clerk, town justice and councilman.

Unofficial results suggest that incumbent Erik Jacobsen topped Judy Aydelott for the Independence Party nomination for town justice with 68-percent of the vote and the Conservative Party nomination with 70-percent of the vote.

All other races in Bedford featured candidates running unopposed.

Mary Beth Kass and incumbent Francis Corcoran are the Conservative Party nominees for councilman. Don Scott is the Conservative Party nominee for supervisor. Lisabeth Boo Fumagalli is the Conservative Party nominee for town clerk.

Chris Burdick is the Independence Party nominee for supervisor. Simone Shaprio is the Independence Party nominee for town clerk.

As of Wednesday morning, 88-percent of the vote had been tallied.

The Daily Voice will update results as write-in votes are tallied.

Luxury builders better positioned in rising interest rate environment | Bedford Hills Real Estate

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Market analysts remain confident in homebuilders, with luxury builders expected to lead as rising interest rates freeze out entry-level buyers, analysts say.

Sterne Agee analyst Jay McCanless believes investors should be looking to move-up and luxury homebuilders since households operating on modest incomes are generally the first to bail on housing when mortgage rates rise.

McCanless specifically highlighted the stocks of Ryland Homes (RYL) and Meritage Homes Corp. (MTH) as solid picks. “Our takeaway from this month’s data is to continue buying these names because the fundamental backdrop remains positive,” McCanless said of the two stocks.

The 30-year mortgage reached 4.80% this past week, the highest level obtained since April 2011, and more proof that overly competitive rates are slowly becoming a thing of the past.

Homebuilder stocks overall fell Friday after experiencing a positive run on the HW 30—HousingWire’s exclusive index for mortgage finance and housing stocks.

The dip in share prices followed a strong week for builders – many of which closed in positive territory on Thursday afternoon, only to fall a day later. On Thursday, D.R. Horton (DHI), Lennar Corp. (LEN) and Toll Brothers (TOL), saw their stock prices shoot up on positive gross domestic product and jobless claims data.

D.R. Horton alone rose 3.55% by close on Thursday, only to fall more than 2% by Friday afternoon. Lennar Corp. also fell more than 2% by market close, with Toll Brothers also down 1.86% by market close on Friday.

Despite a weaker close on the HW 30 index for the week, analysts still see homebuilders in a position to benefit from the nascent housing recovery.

“Average sales and inventory trends in the Top 25 markets we monitor continue to improve sequentially and month over month, and we view these indicators as the best barometers of housing demand in our builders’ collective footprints,” McCanless said.

 

http://www.housingwire.com/articles/26573-luxury-builders-better-positioned-in-rising-rate-environment

 

UWS Mansion That Once Asked $31M Sells, Finally, for $14M | Katonah Real Estate

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The history of the Upper West Side’s 12,000-square-foot Schinasi Mansion is equal parts illustrious and disappointing. Illustrious: Carnegie Hall architect William Tuthill designed the 1909 palace for a “Turkish tobacco baron,” there are 3,400 square feet of outdoor space and a secret tunnel in the basement, and the property was a set for a Woody Allen film, Bullets Over Broadway. Disappointing: after asking a high of $31 million in 2006, the property has now sold for $14 million, according to the Journal. The last asking price was below that, at $13.5 million, (and was apparently one of several all-cash offers) but the PriceChopper Hall of Fame will still be inducting this property.

The buyer hasn’t been identified by name, but the listing broker tells the Journal the home’s new owner is “a New York businessman who used to live abroad.” He’ll be doing a lot of work on the property, since the prior owners, who spent $325,000 for the house in 1979, didn’t use it as their primary residence. Once the renovation’s done, maybe the buyer will host another pizza party.

read more…

 

http://ny.curbed.com/archives/2013/08/30/uws_mansion_that_once_asked_31m_sells_finally_for_14m.php

Negative equity to crimp inventory for years to come | Bedford Real Estate

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As home prices continued to increase rapidly, the number of underwater homeowners — borrowers who owe more on their mortgages than their homes are worth — fell at a fast clip in the second quarter, Zillow reported.

But even if steady price appreciation continues, millions of borrowers remain years away from regaining positive equity, and with it, a better ability to sell their homes, Zillow said.

According to Zillow, about 12.2 million homeowners, or 23.8 percent of all homeowners with a mortgage, were underwater at the end of the second quarter, down from 13 million in the first quarter and 15.3 million in the second quarter of 2012.

While that marked a 20 percent year-over-year decrease in underwater homeowners, millions of borrowers are still years away from shedding negative equity, even as the market recovers, Zillow said.

“The frustratingly slow pace of negative equity declines in the face of such robust home value appreciation is a direct result of the fact that many people in the hardest-hit markets are underwater by an enormous amount,” said Zillow Chief Economist Stan Humphries in a statement.

“Because of this, negative equity will be a factor in these markets for years to come, constraining the supply of homes for sale and keeping people out of the market who might otherwise get involved.”

read more….

 

 

http://www.inman.com/wire/negative-equity-to-crimp-inventory-for-years-to-come/#sthash.Vjzqgagk.dpuf

Booming markets see lag in construction activity | Bedford Corners Real Estate

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Markets that are seeing the greatest rebound in home prices are also seeing the biggest lag in construction activity, the latest data from Trulia (TRLA) revealed.

Asking home prices rose 11.0% on an annual basis and 1.2% on a monthly basis in august. However, when taking a deeper look at the data, it is obvious that construction activity isn’t back to normal levels quite yet.

In 2013, construction permits are running at only about 60-70% of their average level between 1990 and 2012. Las Vegas, Sacramento, Riverside-San Bernardino, Warren-Troy-Farmington Hills and Detroit are among the housing markets where asking home prices increased more than 20%. These markets saw construction activity at less than half the normal level.

According to Trulia Chief Economist Jed Kolko, there is a very obvious explanation for this: Investors and builders have bet on different markets.

“Investors have bought in the boom-and-bust metros, helping push prices up more than 20% year-over-year in Las Vegas, Sacramento, and Detroit,” said Kolko. “Builders, however, are betting on markets that avoided the worst of the crash, like Boston, much of Texas, and the expensive California coast, where job growth is strong and few homes are vacant,” he added.”

 

 

http://www.housingwire.com/articles/26659-booming-markets-see-lag-in-construction-activity

Donald Trump Strips Doral Golf Resort Down To The Rafters | Armonk Homes

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The Donald is well on his way to a full-scale renovation of the Doral Golf Resort & Spa, now the Trump National Doral Miami. (although we’ve heard murmurs that not even the $250 million he’s spending on the renovations alone will be enough. But hey, that’s just talk) Visible from a quick stroll around the property, the main clubhouse has lost both its front and rear facades, a bunch of the holes are dug up, the pool area is all torn up, and most of the hotel rooms – organized in blocks called ‘lodges’ are closed for business. In fact, most of the property seems to be shut down and mid-overhaul at the moment, except for the spa and meeting/convention spaces.

 

 

http://miami.curbed.com/archives/2013/09/05/trump-doral-golf-resort-construction-update.php

 

Bedford Voters Head To The Polls Tuesday For Primary Elections | Bedford Real Estate

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Polls for Bedford’s Conservative and Independence primary elections open at 6 a.m. and close at 9 p.m. Tuesday, with contested races for seats on the Town Board and for the role of Town Justice.

With two seats available on the Bedford Town Board, candidates Mary Beth Kass and incumbent Francis Corcoran will appear on the Conservative ballot. Conservative voters also have a write-in option.

The town supervisor position also is up for election this year – with Don Scott running on the Conservative ticket and Chris Burdick, a current member of the Town Board, on the Independence ballot. There also is a write-in option for both ballots.

The role of town clerk is being sought on the Conservative ticket by incumbent Lisabeth Boo Fumagalli and on the Independence ballot by Simone Shapiro. Both ballots have the option for writing in a candidate.

Judy Aydelott and incumbent Erik Jacobsen are running against each other on the Conservative and Independence ballots for Bedford Town Justice.

County Legislator and Majority Leader Peter Harckham, of North Salem, is running on the Independence ticket to keep his District 2 seat on the Westchester County Board of Legislators. Voters also have the option of writing in a candidate for the District 2 seat, which represents Bedford, Lewisboro, Mount Kisco, North Salem, Pound Ridge and Somers.

Check the Westchester Board of Elections’ website for information about polling locations.

 

 

http://bedford.dailyvoice.com/politics/bedford-voters-head-polls-tuesday-primary-elections

 

Breezy Point Slow to Recover from Fires and Flooding | North Salem Real Estate

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No place on the East Coast took a harder hit from last October’s Hurricane Sandy than the blue-collar neighborhood of Breezy Point, in Queens. When the storm surge swept over the low-lying streets, electrical power was still on—and soon, fires broke out. By the end of the night, nearly 130 houses burned. In all, some 350 houses were totaled by flood, fire, or both.

Nine months later, Breezy Point is far from recovering, reports the Huffington Post (“Breezy Point Sees Little Rebuilt After Devastating Superstorm Sandy Fire,” by Meghan Barr). “Rows of rectangular boxes sunk into the sand form a graveyard of wrecked homes. American flags waving feebly from the ground help mark where a street once existed,” the Post reports. “A perfect storm of government inefficiency, cumbersome permit laws, and general confusion has hampered the recovery effort in Breezy Point.”

The Wall Street Journal chimes in (“Recovery Is Choppy in Breezy Point,” by Josh Dawsey): “Some leaders and homeowners in Breezy Point, where all the homes are owned by a cooperative, said they had been stymied by city and federal rules.”

But the New York Daily News is focusing on success (“First new Breezy Point homes are starting to rise after Superstorm Sandy,” by Clare Trapasso) — highlighting the story of residents Rich and Tracy Whalen, whose modular house has just been set on a new poured concrete foundation. “The couple is racing against the clock to be in their two-story, three-bedroom modular home by Labor Day — right around the time their second child is due,” the paper reports. Whalen, a volunteer firefighter, told the paper, “This is our home. This is where we grew up. A little water’s not going to scare us away.”

For Christine and George Donley, an older couple, rebuilding is a hard slog — but they’re not giving up, reports NBC News: (“‘It will be beautiful again’: Breezy Point couple returns home, and recovers through rebuilding,” by Miranda Leitsinger). “Sixty-three years old sleeping on a mattress on the floor is tough,” Christine said as she presented the single habitable room of their Breezy Point home. “He sleeps on the couch, and this is where we live now.”

But Christine Donley’s determined: “”We will get through this,” she told NBC. “I am stronger than the storm. I am. It took me a long time to say that, but I said it the other night. I am stronger.”

Bedford Begins Process To Fill School Board Vacancy | Bedford Corners Real Estate

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The Bedford Central School District has begun the process of filling the vacancy on the school board.

The board is filling the vacancy left by Lee Goldstein, who resigned because her family is moving to Connecticut. The school board said applications are due Sept. 13.

There will be a special election for the seat May 20. Goldstein was elected to the school board in 2012; her three-year term expires June 30, 2015.

The board will conduct interviews at Fox Lane Middle School Sept. 18. The meeting will be open to the public and televised on BCSD-TV. The district said they are asking community members to submit questions or topics by Sept. 13

The board is expected to make an appointment Sept. 25. To be eligible for the position, an individual must be a qualified voter of the district  and have lived in the school district for at least one continuous year. At a minimum, service on the board requires preparation for and attendance at bi-monthly meetings. In addition, board members serve on at least one board subcommittee, which meets monthly.

Interested individuals may obtain an application on the district’s website www.bcsdny.org or may contact Carole LaColla, district clerk at 914-241-6011 or via email at clacolla1777@bcsdny.org.

Susan Wollin, president of the school board, said she is confident the process will choose a worthy candidate. This is the third time the board has filled a vacancy during Wollin’s tenure.

“It’s very similar to the process we’ve used in the past,” Wollin said. “We hope to appoint somebody based on the outcome of the meetings.”

The board last filled a vacancy in 2011 when Mark Chernis resigned to avoid a conflict of interest with his employer and the district.

The Bedford Central School District is comprised of the towns of Bedford, Pound Ridge and Mount Kisco.

 

 

http://bedford.dailyvoice.com/news/bedford-begins-process-fill-school-board-vacancy

 

How Much Does it Cost to Install Windows? | Chappaqua Real Estate

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Windows can bring light and warmth, provide views, beautify inside and out and add tremendous value to your home. They also can let in the elements and intruders that put your home at risk. That’s why windows – quality windows – must be considered an important investment. The cost of windows will depend on the type, dimensions, materials used, security features, the complexity of the installation, and, of course, the number of windows needed.
Number of Windows

Generally, the more windows you need to install, the more expensive the installation price. But installation professionals will charge less per window if you install several at the same time. So if you’re thinking about only replacing a couple of windows, it might make sense for you to talk to your pro about the cost of installing multiple windows at one time. It may save you money in the long run.  Continue Reading

Window Sizes

According to Window Replacement DC – Hyattsville, windows tend toward different dimensions depending on where they’re needed. Living rooms typically have larger picture windows hung in multiples ranging from 3×4′ to 6×6′. Standard bathroom windows are quite a bit smaller, ranging from 2×1.5′ to 2×3′. Major window manufacturers can customize windows to any dimensions, but be aware that you may pay more for odd sizes.

Window Sash Materials

Vinyl windows are inexpensive and require little or no maintenance. They’re also extremely durable; changes in humidity don’t cause them to swell or shrink. Most vinyl window manufacturers stand behind their products with strong warranties. Their greatest drawback is that they’re not as sturdy or attractive as wood. Wood frames, on the other hand, cost more and require much more maintenance. Fail to repaint and finish wooden window frames and they become susceptible to the elements. But all that work and money can be worth it for the classic, authentic architectural appeal of wood. That’s why some historical neighborhoods have covenants requiring that windows be framed with wood. New composite windows attempt to capture the best of both worlds by mixing PVC polymers with wood fiber to create a stronger, more attractive synthetic window frame.

Window Panes

New windows can save you considerable money on your utility bills and make your home more comfortable. Windows are rated by the U-factor. The lower the U-factor, the more energy efficient and higher the initial cost. You’ll pay more for double-pane windows, but they will pay for themselves over time. Experts say double-pane windows can save up to 24 percent in cold climates during the winter and up to 18 percent in hot climates during the summer. More about double-pane options.

Other Window Cost Factors

Replacing existing windows is, of course, usually cheaper than cutting walls for new ones. You might consider talking to both your contractor and a security firm about how to make your windows safe from burglars. Also, be aware that windows above the first floor may be more expensive to install because of access issues.