Tag Archives: Westchester Real Estate

HGTV’s ‘House Hunters’ Episode Featuring Bedford Airs Wednesday | Bedford Hills Real Estate

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Fans eagerly awaiting the “House Hunters” episode featuring several Bedford, Mount Kisco and Katonah homes will have to wait just one more day.

The latest episode, which also features local real estate agent Justin Pieragostini, premieres at 10 p.m. Wednesday on HGTV. Originally scheduled to premiere in April, the episode highlighting Pieragostini helping a family relocate to Katonah from Boston is set for the latest episode Wednesday night.

The episode marks the first time HGTV has showcased Westchester County, Pieragostini said, adding that the episode is worth the wait.

“I am so excited to showcase this community on TV,” Pieragostini said Monday. “It’s about featuring that place we all call home and I can’t wait for people to see it. Northern Westchester is a close-knit community full of great people so it was wonderful to bring some attention to that.”

New residents Steven and Megan Grskovic and their three children are featured in the episode, where Pieragostini guided the family through Bedford, Mt. Kisco and Katonah.

“Honestly, we were so caught up in the emotions of the house hunting experience, we never really thought about our ‘story’ until Justin threw out the idea of sharing it on House Hunters,” said Steven Grskovic, in a press release. “Ultimately, we were intrigued by having a unique keepsake for our family to look back on. Justin kept reminding us through the home buying process that once complete we’ll be happy we documented it and he was right. We’re really looking forward to the episode.”

 

HGTV’s ‘House Hunters’ Episode Featuring Bedford Airs Wednesday | The Bedford Daily Voice.

Caramoor In Katonah Celebrates Verdi’s Bicentennial Saturday | Katonah Real Estate

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Caramoor Summer Music Festival and Bel Canto at Caramoor will present a celebration of Giuseppe Verdi’s bicentennial on Saturday at 7:30 p.m.

“Verdi in Paris” highlights the influence the composer’s  time in Paris had on his music. The composer’s long association with the city yielded some of his most significant contributions to opera.

Will Crutchfield, Caramoor’s director of opera, will lead the Orchestra of St. Luke’s in two of the composer’s grand operas composed explicitly for the Paris Opera – “Les vêpres siciliennes” and “Don Carlos” – in their original language.

This semi-staged concert performance will be preceded by lectures and recitals in the Spanish Courtyard.

To order tickets, call the box office at 914-232-1252 or visit www.caramoor.org. 

 

Caramoor In Katonah Celebrates Verdi’s Bicentennial Saturday | The Armonk Daily Voice.

5 ways to exceed your ultrawealthy sellers’ expectations | Waccabuc Real Estate

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You’re about to go on a listing appointment for a multimillion-dollar property. What expectations will the sellers have and how will you meet them?

Most luxury clients expect much more from their agent than just posting pretty pictures of their property on the MLS and on various online sites where you syndicate your listings. What will it take for you to win the listing and get it sold?

1. Move from closing the prospect to creating a unique customer experience

Luxury sales were once based on controlling the prospect and expertly telling them what to do. Closing is an essential part of any sales process. Today’s luxury clients are smarter, well researched and tech savvy. They expect to control the process. Your role first and foremost is to provide them with the specific information they will need to make the best decision regarding their sale or purchase.

Going beyond this minimum level of service will require you to do much more. Find out what matters to your client, and structure her customer experience around what matters to her.

For example, many ultrawealthy clients are collectors. If your client collects vintage dolls, spend an hour reading up on this topic. Then, if you are showing this client property, ask questions that focus on how well the rooms where the collectibles will be displayed fit the client’s needs. This type of detailed focus on your client’s personal interests will make you stand out from competitors and earn you plenty of referrals as well.

– See more at: http://www.inman.com/2013/07/01/5-ways-to-exceed-your-ultrawealthy-sellers-expectations/#sthash.OtEsf0hu.dpuf

 

5 ways to exceed your ultrawealthy sellers’ expectations | Inman News.

Whither real estate market as interest rates rise? | Bedford Real Estate

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Wouldn’t you know it? There are still buyers wondering if now is the time to buy a home. Now, when inventory is extremely low, mortgage interest rates are starting to rise and home prices have seen huge price jumps in many markets.

And yet there are some who believe there may be a price advantage to waiting a few more months, until we get into the fall and even winter season. But more on that in a moment.

There’s no question that the real estate market is healthier than it has been in years, but the headlines aren’t quite giving consumers the whole story. While existing home sales, new construction sales and home prices are trending up, they are still below their prerecession peaks, noted Amy Crews Cutts, senior vice president and chief economist for Equifax.

Single family housing starts are still down around 60 percent from the prerecession peak, while existing home sales are still down about 38 percent and prices are down roughly 20 percent.

“Even with large percentage gains in housing measures, all major indices of housing market vitality point to a long recovery yet to come,” she said in a live webinar on the housing market hosted by Ilyce. (Full disclosure: Ilyce also serves as the managing editor for the Equifax Finance Blog.)

What’s keeping the housing market depressed isn’t a lack of buyers but a lack of inventory. There simply aren’t enough houses to buy. Home builders can’t build homes fast enough: There aren’t enough building materials in some communities, and others are experiencing a shortage of construction workers.

This lack of inventory is starting to push up prices and is making the market move much more quickly, noted Steve Cook, editor of Real Estate Economy Watch, and the former head of public affairs for the National Association of Realtors.

 

Whither real estate market as interest rates rise? – chicagotribune.com.

April Case-Shiller Prices Broke Records for Monthly Gains | Mt Kisco Real Estate

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Home prices rose to 2004 levels in the S&P Case-Shiller Indices for April as the10- and 20-City Composites posted their highest monthly gains in the history of S&P/Case-Shiller.

Data through April 2013 released today showed average home prices increased 11.6 percent and 12.1 percent for the 10- and 20-City Composites in the 12 months ending in April 2013. From March to April, the 10- and 20-City Composites rose 2.6% and 2.5 percent.

All 20 cities and both Composites showed positive year-over-year returns for at least the fourth consecutive month. Atlanta, Dallas, Detroit and Minneapolis posted their highest annual gains since the start of their respective indices. On a monthly basis, all cities with the exception of Detroit posted positive change.

The chart above depicts the annual returns of the 10-City Composite and the 20-City Composite Home Price Indices. In April 2013, the 10- and 20-City Composites posted annual increases of 11.6% and 12.1%, respectively.

“The recovery is definitely broad based. The two Composites showed the largest year-over-year gains in seven years. Atlanta, Las Vegas, Phoenix and San Francisco posted year-over-year gains of over 20% in April. San Francisco was the highest at 23.9%. Phoenix posted 12 consecutive months of double-digit growth. Recent economic data on home sales and inventories confirm the housing recovery’s strength,” David M. Blitzer, Chairman of the Index Committee at S&P Dow Jones Indices.

“Last week’s comments from the Fed and the resulting sharp increase in Treasury yields sparked fears that rising mortgage rates will damage the housing rebound. Home buyers have survived rising mortgage rates in the past, often by shifting from fixed rate to adjustable rate loans. In the housing boom, bust and recovery, banks’ credit quality standards were more important than the level of mortgage rates. The most recent Fed Senior Loan Officer Opinion Survey shows that some banks are easing credit restrictions. Given this, the recovery should continue,” Blitzer said.

For the month of April, 19 of the 20 cities showed positive returns; Detroit was the only MSA to remain flat. Compared to March 2013, thirteen cities showed improvement with Minneapolis showing the largest change with a gain of 2.9% compared to its March return of -1.1%. California is seeing impressive returns all around with gains ranging from 3.4% to 4.9%. Los Angeles, San Diego and San Francisco posted their highest gains since 2004, 1988 and 1987, respectively. Looking at the east coast, Miami showed its largest return, 2.4%, in seven and a half years.

All 20 cities showed increases over their levels from 12 months ago. Twelve MSAs – Atlanta, Detroit, Las Vegas, Los Angeles, Miami, Minneapolis, Phoenix, Portland, San Diego, San Francisco, Seattle and Tampa – continued to show double-digit annual gains. Out of these 12 MSAs, Phoenix and Tampa were the only cities to show year-over-year deceleration.

The table below summarizes the results for April 2013. The S&P/Case-Shiller Home Price Indices are revised for the 24 prior months, based on the receipt of additional source data.

Since its launch in early 2006, the S&P/Case-Shiller Home Price Indices have published, and the markets have followed and reported on, the non-seasonally adjusted data set used in the headline indices. For analytical purposes, S&P Dow Jones Indices publishes a seasonally adjusted data set covered in the headline indices, as well as for the 17 of 20 markets with tiered price indices and the five condo markets that are tracked.

 

April Case-Shiller Prices Broke Records for Monthly Gains | RealEstateEconomyWatch.com.

Luxury Summer Rentals: Is $1 Million the New Normal? | Waccabuc Real Estate

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In the world of short-term rentals, it’s all about Memorial Day to Labor Day. Homes in popular vacation spots from Malibu to The Hamptons are emerging with rental prices from $100,000 to more than $1 million total for the summer.

While many associate these numbers with buying a home — not renting one for three months — these listings typically attract renters soon after they hit the market. For those who can afford it, they offer the chance to live in the lap of luxury — without having to think about a mortgage or resale value.

Here’s a look at a few high-end summer rentals currently on the market. Some are offered for a flat fee; others have a monthly rate for the 3-month peak vacation season. (You might have some negotiating power with Memorial Day behind us, but don’t expect to rent one of these pricey pads for less than six figures.)

Beverly Hills: $1.8 million ($600,000/mo.)

Beverly Hills, CA
Perched above the Beverly Hills Hotel at 1011 N Beverly Dr, Beverly Hills, CA 90210, the Beverly House was a for-sale listing asking $115 million before becoming a rental. Whether you’re in the market for a summer home or a year-long lease, the price remains $600,000 per month.

While its ornate architecture and furnishings are notable, the home is most-known for its celebrity history — from publishing magnate William Randolph Hearst, who was given the home by actress Marion Davies in 1946, to John and Jacqueline Kennedy, who spent time there during their honeymoon. The 3.7-acre compound has also served as a set for “The Godfather” and “The Bodyguard.”

Water Mill: $550,000 (flat fee)

Water Mill, NY
Located on Mecox Bay between Bridgehampton and Southampton, Water Mill, NY is an exclusive destination for the rich and famous (Jennifer Lopez just dropped $10 million on a 3-acre estate in the area).

Similar to the Beverly Hills listing above, this Water Mill home first hit the market as a for-sale listing in 2011. After several price changes, the home is now being marketed as a summer rental for a flat fee of $550,000 for Memorial Day through Labor Day. The house includes a master suite with a private terrace, 3 additional bedrooms, an oversized granite pool and spa.

Bridgehampton: $475,000 (flat fee)

Bridgehampton, NY
Bridgehampton is another coveted Hamptons locale, with Goldman Sachs CEO Lloyd Blankfein recently buying a house listed for $32.5 million. Last summer, Beyonce and Jay-Z escaped Manhattan with a Bridgehampton summer rental coined “The Sandcastle.”

Measuring 10,000 square feet, this Bridgehampton home has 7 bedrooms, 9.5 baths, a pool, movie theater, gym, 4 fireplaces and a wine cellar. Close to local shops, restaurants and the beach, it’s an ideal getaway during the summer months, and the price reflects this with a $475,000 flat fee from Memorial Day to Labor Day versus $150,000 for the winter.

Southampton: $395,000 (flat fee)

Southampton, NY
Live like Kate Spade with this Southampton summer home located on your own private pond. The property features 5,800 square feet of living space on 2 landscaped acres with a heated pool and tennis court. Located a block from the Hamptons waterfront, the estate also comes with deeded beach access.

If you’re looking for a longer-term rental, listing agent Nancy Hardy of Halstead Property says additional prices are available.

Malibu: $300,000 ($100,000/mo.)
Malibu, CA

Located behind Malibu Colony’s prestigious gated entrance at 23716 Malibu Colony Rd #28, this home is available only for the summer months, as the homeowners live there the rest of the year. For $100,000 a month, the Cape Cod-style beach house comes with a private deck right on the beach, 5 bedrooms, 5.5 baths and an attached gym.

Malibu is a popular second-home destination for the celebrity set flocking from nearby L.A. While some like to buy their own place, others including Usher and P. Diddy have gone the rental route.

 

Luxury Summer Rentals: Is $1 Million the New Normal? | Zillow Blog.

Don’t Call It Home Staging. Call It Superstaging! | Bedford Hills Real Estate

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It’s not news that San Francisco home sales have been rocketing above expectations since the beginning of the year. Bay area buyers have seen themselves outbid by the cost of a mansion in their home towns; sellers have found that even an unstaged home, or even raw fixer-upper, will sell above asking within a week.

 

You might think this’d encourage laziness among sellers, but at least one boutique agency is thinking just the opposite: a little extra effort might result in record sales within record times. They call it simple marketing, but I call it “uberstaging.”

 

Climb Real Estate has been creating a niche for itself with its rolling Airstream satellite office. Now they’re talking their sellers into spending as much as $50K on pre-sale improvements, betting that the payoff will more than cover the cost.

 

The first step is to identify the potential buyer. In the case of this property, on Page Street in Hayes Valley, they  pitched their concept toward a single, professional woman in her 30s buying her first home – a powerful buying force in today’s market, by the way. Then they hired a interior designer Ian Stalling, art consultants from Art Haus, color consultant Wendy Trotter, and even landscape designer Dat Pham to create a space designed specifically for this fictitious buyer.

 

“This isn’t about the four walls,” says Chris Lim, Climb’s marketing director. “It’s about what happens in those four walls. How is your life going to be better if you buy this property? Is it that Blue Bottle coffee is just down the street? Is it the restaurants and the easy commute to downtown? How do you create a storyline that will convince someone that this is meant to be her home?” The stack of takeout menus and bottles of coffee in the kitchen are only the beginning of that story.

 

Don’t Call It Home Staging. Call It Superstaging! | Houses | HGTV FrontDoor.

Housing Market: From Recovery to Bubble–Already? | Armonk Real Estate

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Only a year after the housing market bottomed, “bubble” talk has surfaced as soaring, double-digit price gains sweep markets across the country.

An open house in Cheviot Hills—a neighborhood in West Los Angeles—attracted 150 people and brought in 14 bids before the home sold for 7 percent above the listing price at $2.9 million.

A loft in Manhattan’s SoHo district recently sold for $3.25 million after a bidding war pushed the price 10 percent above the asking price.

In Chicago’s Wrigleyville area, a two-flat greystone was bid up to $850,000, 6 percent above asking price, and sold to a single-family home converter who plans to add another floor and put it back on the market for $1.8 million.

“Prices in some areas are just out of control,” said Scott Tamkin, an agent with Keller Williams Realty in Los Angeles. “As soon as a good property comes on the market at a reasonable price—bam! It’s gone in multiple offers, often times in cash.”

U.S. home prices surged 12.1 percent in April from the same period a year ago, the biggest jump since February 2006 and the second straight month of double-digit gains, CoreLogic reported at the start of June.

Tight inventories, cheap money, and investor appetite are driving prices through the roof in some cities; particularly in hard-hit markets such as Phoenix and Las Vegas.

To be sure, not all areas are overheated nor have some even recovered since the downturn. But in most big cities, demand is hot, deals are quick, and many properties are getting bid up before selling for cash.

And even though home values are still a far cry from their peak in 2006, economists caution that prices in some areas have risen too far, too fast.

“It’s clearly not sustainable,” said Stan Humphries, chief economist at Zillow.

Wells Fargo Senior Economist Mark Vitner seconded that: “If investors don’t back off soon, it could lead to a bit of a price bubble.”

Prices have risen despite a lack of major improvement in fundamentals—namely jobs growth and incomes.

“Home prices need to moderate,” said Lawrence Yun, chief economist at the National Association of Realtors. “It’s bad news in terms of affordability and certainly not sustainable for prices to rise and incomes to lag.”

 

Housing Market: From Recovery to Bubble–Already?.

Key takeaways on rising home sales | Mt Kisco Real Estate

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If you exclude November 2009, when home sales spiked amid a frenzy to claim a tax credit for first-time home buyers, home sales are running at their highest rate in six years, writes the Wall Street Journal.

The National Association of Realtors reported on Thursday that sales in May rose to a seasonally adjusted annual rate of 5.18 million homes. They reached a level of 5.44 million in November 2009, and 5.27 million in May 2007, when the housing market collapse accelerated. They hit a low of 3.45 million in July 2010, after the last round of home-buyer tax credits expired.

See the key takeaways from the Wall Street Journal on these rising home prices here.

Key takeaways on rising home sales | HousingWire.

Tight inventory of Cape Cod mansions make prices soar | Waccabuc Real Estate

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Brokers said many wealthy Cape Codders are trading up. Other buyers see the Cape as a strong investment, with bigger properties still selling at a 20% to 50% discount to the Hamptons in New York.

CNBC has learned that billionaire William Koch—the sailor, wine-collector and brother of famed conservatives David and Charles—is putting his historic compound on the private island of Oyster Harbors up for sale.Robert Paul Properties, an affiliate of Luxury Portfolio International, is about to list the property for $15 million.

Koch is selling after he purchased a nearby estate previously owned by Rachel “Bunny” Melon for $19.5 million, according to reports.

The top listing in Martha’s Vineyard, the Obamas’ favorite summer retreat, is a property called Herring Creek Farm, a 25-acre estate on the market for $19.5 million. The farm sits on a private corner of land off Slough Cove. Located on the southeast part of the island, the property features sweeping views of Edgartown Great Pond and the Atlantic, writes CNBC.

 

Tight inventory of Cape Cod mansions make prices soar | HousingWire.