Tag Archives: Westchester Real Estate

Denver housing market recovers but sellers remain scarce | Waccabuc Homes

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Denver’s housing rebound is in full swing, but sellers are acting as though they didn’t get invitations to the party.

“The question each and every day is: Where are the sellers?” said Gary Bauer, an independent real estate research analyst.

At the end of April,metro Denver had just shy of 7,000 pre-owned homes available for sale, a third fewer than a year earlier and less than half the 15,000 to 20,000 homes that Bauer said would represent a normal market.

“I can’t figure out why people aren’t listing,” said Brenda Yates, a broker associate with Keller Williams DTC.

Yates and her husband plan to put three properties on the market, after finally seeing enough appreciation to make it worthwhile, and they don’t expect it will take long for them to sell.

The median price of homes sold in metro Denver last month rose to $280,000, up from $268,200 in March. The latestStandard & Poor’s/Case-Shiller Home Price indexreports 14 straight months of price increases in Denver, with prices up nearly 10 percent year-over-year as of February.

Scarcity is triggering bidding wars and causing homes to move quickly, often on the first day, brokers report. The median time a new listing in April remained available before going under contract was four days, reports Jim Smith, owner of Golden Real Estate.

 

 

Denver housing market recovers but sellers remain scarce – The Denver Post.

The real estate market must be totally regulated in Qatar | Bedford Corners Homes

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Rents stabilising in Qatar are a clear indication of the upbeat mood in the market about medium- to long-term national economic prospects.

In the last few months, many commercial and residential properties have come to the local market and many more are expected in the months ahead.

For investors, a key factor that drives their business strategy is the projected return on investments (ROI). Obviously, return on investments is decided by the demand and supply situation.

With Qatar economy witnessing rapid growth and many infrastructure projects being taken up, national economic prospects look good.

Population growth has been accelerating mainly because expatriates come to work on new infrastructure projects.

This is bound to put pressure on both commercial and residential properties with the result that rents may go up considerably.

Rents are likely to be a major swing factor in forecasts of consumer price inflation for 2013, experts have already warned.

Historically, from 2005 until 2013, Qatar’s inflation averaged 4.05% reaching an all time high of 16.59% in June 2008 and a record deflation of 9.96% in December 2009, a study by Standard Chartered Bank has shown.

According to QNB, overall inflation increased 3.6% year-on-year and 0.4% month-on-month to 2.4% in March this year.

Since the housing component has the largest weighting in the inflation basket (32.2%), escalating rents are sure to drive inflation in Qatar.

Rising inflation will certainly take the sheen off the real GDP growth, which no economy can afford.

In the past, when inflation surged and touched double digits, the government took very strong measures to contain it.

They included putting a ceiling on the annual rental increases and starting new low-cost residential projects. Many nationals and expatriates have then benefited from the pro-active measures taken by the government.

 

 

The real estate market must be totally regulated.

Australian Properties start moving as real estate market returns to form | Chappaqua Real Estate

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Estate agents yesterday said since the rate cut there had been a sharp increase in activity, with phones running hot the moment the cut was announced.

Zak Smith from LJ Hooker Everton Park said he had noticed an increase in buyer interest immediately after the RBA announced the cut.

“The moment the announcement was made my phone started ringing,” Mr Smith said. “I had three calls on the same property within three hours of interest rates dropping. It’s a great boost because normally this is when the market can slow down.”

Mr Smith said a home at 903 South Pine Rd, Everton Park, had received a lot of new interest since the announcement.

“It’s a brand-new, massive two-storey home, so there’s a lot to like about it,” he said. “It’s just been reduced to offers over $499,000, which is a great deal. The buyers are out there still and with the interest rates cut, they now have a lot more incentive.”

New figures from RP Data show the property market is now a lot more positive than last year.Home sellers in the northern suburb of Deagon faced a bleak prospect last year. Median house prices were down 17.8 per cent, and the time on market was a frustrating 132 days.

Newstead house

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

http://www.theaustralian.com.au

President Obama Urges Congress to Boost Homeowners in ‘Healing’ Housing Market | Armonk Homes

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President Obama today declared that the housing market has reached a point where it is “healing” and reaffirmed the administration’s commitment to promoting initiatives that benefit responsible homeowners, including measures encourage refinancing at low rates.

“Today, seven years after the real estate bubble burst, triggering the worst economic crisis since the Great Depression and costing millions of responsible Americans their jobs and their homes, our housing market is healing,” Obama said in his weekly address. “Sales are up.  Foreclosures are down.  Construction is expanding.  And thanks to rising home prices over the past year, 1.7 million more families have been able to come up for air because they’re no longer underwater on their mortgages.

ap barack obama ll 130506 wblog President Obama Urges Congress to Boost Homeowners in Healing Housing Market

Jose Luis Magana/AP Photo

“But we’ve got more work to do,” he added. “We’ve got more responsible homeowners to help – folks who have never missed a mortgage payment but aren’t allowed to refinance; working families who have done everything right, but still owe more on their homes than they’re worth.”

As he highlighted the administration’s initiatives to boost the housing market, the president called on Congress to confirm Mel Watt, who he recently nominated to head the Federal Housing Finance Agency.

“He’s the right person for the job, and that’s why Congress should do its job and confirm him without delay,” the president said.

Obama also urged Congress to pass additional measures that would allow homeowners to refinance their homes at low rates.

“Our economy and our housing market are poised for progress – but we could do so much more if we work together,” he said. “More good jobs.  Greater security for middle-class families.  A sense that your hard work is rewarded.  That’s what I’m fighting for – and that’s what I’m going to keep fighting for as long as I hold this office.”

While gun control and a battle over government spending has dominated much of the president’s agenda this year, the White House has made an direct push this week to turn attention to the economy.  On Thursday, the president held a series of events promoting innovation and job creation in the technology industry as part of his “Middle Class Jobs & Opportunity Tours,” which he will continue next week with events in Baltimore.

 

 

President Obama Urges Congress to Boost Homeowners in ‘Healing’ Housing Market – ABC News.

Douglas Elliman releases Manhattan-Brooklyn Rental Report | Bedford Realtor

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Douglas Elliman Real Estate just released the “Elliman Report: Manhattan & Brooklyn Rentals April 2013,” the leading resource on the state of the Manhattan and Brooklyn rental markets. As always, our market reports are produced in conjunction with Miller Samuel to provide you and your clients with the most comprehensive and neutral market insight available.

 

Year to date, Manhattan rents continued to rise at the same brisk pace as last year. The gains in rental prices have been consistent across all apartment sizes compared to a year ago. Landlord concessions were used sparingly and the vacancy rate remained below long-term averages. The continuing strength of the rental market has been somewhat surprising since the Manhattan sales market has also seen rising prices and sales volume. Tight credit conditions and an improving regional economy continue to keep pressure on the demand for rental housing.

 

After several months of rapid gains, Brooklyn rental price increases slowed in the month of April. However, the rapid pace of the market continued with brisk listing periods and the lowest listing discount seen in the new year. Competition from a robust sales market along with low mortgage rates are keeping increases in check. We anticipate similar conditions over the coming months.

 

We constantly look for ways to provide our clients with better information to enable them to make more informed decisions. Our efforts to make this market report series possible reflect my strong belief that in a market that is constantly changing, access to timely information is one of the greatest resources we can offer our clients. We are committed to providing the best information and services in the industry. Explore our full market report series covering Manhattan, Brooklyn, Queens, Long Island, The Hamptons, North Fork, Westchester/Putnam, Miami, Boca Raton, Fort Lauderdale and Palm Beach at http://www.elliman.com/marketreports.

 

Douglas Elliman releases Manhattan-Brooklyn Rental Report | Bedford Realtor.

Time to take the measure of the recovery | Waccabuc Real Estate

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Commentary: Many global indicators are at inflection points

Long-term rates fell this week to the lows of 2013, mortgages stickier than 10-year T-notes. Although long Treasurys made it to 1.85 percent, mortgages are still 3.75 percent or so — the mortgage market frightened to death that any loan it buys today will live until its 360th payment.

Trading everywhere has ceased for Passover, Good Friday, and Easter, but next week brings a flood of brand-new information for March, capped on Friday by employment data. Thus a good time to reflect.

I do not recall a moment in which so many economic elements at the same time have been at points of inflection. In the old days (five years ago) nothing much mattered except U.S. data. In global markets the world is more important than the U.S.

1. Rates are down because of Europe. Period. Euro elites are secure looking down their noses: “Cyprus is unique, the euro-zone will be fine, just a little austerity and economic reform ahead.” Au contraire… bank funding costs in March everywhere except Germany rose by 25 percent (who wants a haircut at shoulder-level?); French and Spanish 10-year yields are opening versus German; nobody is making fiscal progress, the combination of austerity and euro-shackles making recovery impossible. Yet everyone who has cried euro-failure “Wolf!” has been premature. Or wrong: maybe there is no wolf at all. Or, if the wolf finally does arrive, the bigger the shock.

2. The stock market set a new high yesterday, greeted by no exuberance. Usually a technical “breakout” like this is followed by a big run. Not. This new high is a half-inch above the same top in 1999 and 2007. Whee. And yet … stocks could really run and bring back the wealth effect.

3. That wealth effect may already be here. This morning’s news: personal incomes jumped 1.1 percent in February and spending with them, up 0.6 percent.

 

 

 

Time to take the measure of the recovery | Inman News.

Market Overheats in Scarsdale | Real Estate

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The experts concur – it’s a banner year for home sales in Scarsdale. We checked in with three local agencies for their observations on the Spring market and here is what they had to say:

Zach Harrison:
Platinum Drive:

“This is the strongest real estate market I have seen in Westchester since 2006. Bidding wars have been commonplace, driven by low interest rates and a lack of inventory.”

Linda Roth
Coldwell Banker: 

This spring is an exceptional time to sell real estate in Scarsdale/Edgemont and surrounding communities. In addition the national real estate market is also showing strong growth. The combination of lack of inventory, an improving economy and historically low interest rates has brought out large numbers of purchasers, which in turn bring multiple offers, many over the asking price and with excellent terms. As always, lower Westchester with its convenient location leads the market.

Lewis Arlt
Houlihan Lawrence: 

Looking out the rear view mirror at sold properties in Scarsdale, we see an up-tick of 9.3% year-to-date (from 43 last year at this date, to 47 this year). And an increase of 11.7% year over year from May 6, 2012 (206 sold) to May 6, 2013 (230 sold). The median sale price stands at $1.246M year to date, compared to $1.285 last year at this time. (a 3% drop, statistically not very significant). The good news is prices remain relatively stable and sales are moving forward at a healthy pace.

Peering out the windshield at pending business, we can see a very healthy ratio of active listings to pending deals. The 112 currently active listings (a 19% decrease compared to 2012 at this time) is well balanced by 82 deals in contract, compared to 76 last year – nearly 8% more. Decreased inventory across the region has fueled higher prices as more buyers compete for fewer homes. This phenomenon has led to some highly competitive bidding and sale prices exceeding expectations, most evidenced in the $700,000-1,500,000 price range. Rates are low, consumer confidence is strong, and we are currently on pace to record more sales this year in the village than in a decade.

 

 

Scarsdale, NY 10583 | Market Overheats in Scarsdale | Real Estate | Your Community Corner.

Florida’s Housing Market Showed Improvement in the First Quarter of 2013 | Pound Ridge NY Real Estate

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Florida’s housing market gained strength in first quarter 2013 with increased closed sales, more pending sales, higher median prices and a reduced supply of homes for sale compared to the same quarter in 2012, according to the latest housing data released by Florida Realtors®.
“The first three months of 2013 demonstrate that Florida’s housing market is gaining momentum and continuing to bolster the state’s economy,” said 2013 Florida Realtors President Dean Asher , broker-owner with Don Asher & Associates Inc. in Orlando. “More people went back to work as more jobs were created in Florida during the first quarter, and our population is also growing –which provide a solid foundation for growth in the housing market. It’s taking less time to sell a home and, coupled with tight inventory, that shows buyers are eager to lock in historically low mortgage interest rates and take advantage of favorable, but rising prices.”
Statewide closed sales of existing single-family homes totaled 48,976 in 1Q 2013, up 10.2 percent compared to the year-ago figure, according to data from Florida Realtors Industry Data and Analysis department in partnership with local Realtor boards/associations. Closed sales typically occur 30 to 90 days after sales contracts are written.
Meanwhile, pending sales – contracts that are signed but not yet completed or closed – for existing single-family homes rose 26.8 percent in the first quarter compared to the 1Q 2012 figure. The statewide median sales price for single-family existing homes in 1Q 2013 was $153,000, up 13.4 percent from the same quarter a year ago.
The median is the midpoint; half the homes sold for more, half for less. Housing industry analysts note that sales of foreclosures and other distressed properties downwardly distort the median price because they generally sell at a discount relative to traditional homes.
Looking at Florida’s year-to-year comparison for sales of townhouse-condos, a total of 24,655 units sold statewide in the first quarter, up 3.2 percent from the first three months of 2012. Pending sales for townhouse-condos in 1Q 2013 increased 13.7 percent compared to a year ago, while the statewide median for townhouse-condo properties was $116,000, up 18.4 percent over the same quarter last year

 

Florida’s Housing Market Showed Improvement in the First Quarter of 2013 | Pound Ridge NY Real Estate | Bedford NY Real Estate | Robert Paul Talks Life in Bedford NY.

Cuba’s Real Estate Market on the Rise :: EDGE on the Net | Chappaqua Real Estate

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Estrella Diaz sits next to a homemade sign advertising her home for sale, in Havana, Cuba.

Estrella Diaz sits next to a homemade sign advertising her home for sale, in Havana, Cuba.  (Source:AP Photo/Franklin Reyes)
In some ways, Yosuan Crespo’s real estate office resembles any you might find in New York, London or Tokyo. There are slick posters of hot properties hanging from the ceiling, a steady stream of hopeful buyers and sellers and a constant clack of computer keys.

But Crespo’s headquarters in central Havana’s trendy Vedado neighborhood is actually somebody else’s breezy front porch. The computer’s only connection to the Internet is a creaky dial-up link, and Crespo is careful to say he’s not operating as a broker, since the job is still technically illegal.

A baffling, sometimes bizarre real estate market has emerged in the year and a half since President Raul Castro legalized private home sales on this Communist-run island for the first time in five decades.

While trade in homes is now legal, the people who bring buyers together with sellers are not. The government has yet to make good on promises to legitimize brokers, most of whom still operate in the shadows.

It’s a story that has been typical of Castro’s economic reforms, which often have left little space for the sort of middlemen and other services that help markets work.

The Cuban leader also has legalized a used car market, but not the right to open a business that sells them. And while reforms have sparked an explosion of private restaurants and cafes across Cuba, the government has yet to give them access to wholesalers that could keep them better supplied.

Crespo gets around the broker ban by operating as a licensed computer programmer and photographer, helping clients list their properties on Web portals, producing the for-sale posters that hang in his office and offering digital photo services for sellers. He says he doesn’t charge commissions.

Crespo’s listed fees are just a few dollars, but he’s found himself in major demand. He estimates 30 to 40 customers a day wander into his porch-side business, called EspacioCuba. He says his service has 2,500 current listings and has helped sell about 250 properties since it opened in January.

“Right now we are very pleased,” said Crespo, a smartly dressed 28-year-old computer scientist with close-cropped hair, but he added that the market would benefit by the government made brokering legal.

The market also still lacks a workable mortgage system, an easy means of advertising potential sales and, most important, a middle class with resources to buy.

Yet sales are humming, with some 45,000 homes changing hands in the first eight months after Castro legalized the real estate market in November 2011, according to the most recent statistics from the government.

 

 

Cuba’s Real Estate Market on the Rise :: EDGE on the Net | Chappaqua Real Estate | Bedford NY Real Estate | Robert Paul Talks Life in Bedford NY.

What $700K Can Buy You Around The Cape & Islands | Chappaqua Homes

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↑ Kicking off in Provincetown with The Boathouse, a 1BR, 1BA condo directly on Cape Cod Bay. Built in 1900, the year-round 487 sq. ft. freestanding cottage has waterviews on three sides, an exclusive use deck and parking for one. The property last changed hands in 2005 for $685,000 and returned to the market in May 2011 asking $735,000. The listing was removed in October 2011 and reappeared last month with a $729,300 price tag.

 

 

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