Category Archives: Bedford

Hamptons Agents Sum Up 2013 in Real Estate, Part II | Bedford NY Homes

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800px-Sag-flags.jpg [Everyone loves Sag Harbor, via wikipedia]

Susan Breitenbach, Corcoran What neighborhood saw the most change this year? North Haven/Sag Harbor got waterfront condos for sale and ended up with lots of big waterfront transactions. A few years ago hardly anyone ever heard of it; one new transfer will be coming in over $30 mil (just one house and not extremely large property!).

Sum up 2013 in three words Four: One of best in Hamptons!

Your favorite town this year Montauk.

Biggest building trend in 2013 Outside living: amazing exterior pool houses with nano doors, Kalamazoo kitchens, outdoor fireplaces, firepits, gyms, etc.

Any predictions for 2014? All signs are pointing to one of the best in Hamptons real estate history.

Gary De Persia, Corcoran What neighborhood saw the most change this year? Sag Harbor ended the year with two record setting deals, including a waterfront that went to contract on Robertson Drive not far below its $36M ask and my listing on Main Street priced at $9.95M, also in contract at what will prove to be a benchmark price. These go along with the other robust sales in that area this year.

Sum up 2013 in three words Action never stopped.

Your favorite town this year and why Sag Harbor. The only village in the Hamptons that you actually see people cramming the streets at night before and after dinner. Other towns people tend to go to dinner then get in their cars to go home.

Biggest building trend in 2013 Third floor roof decks capturing amazing views of ocean, bays and surrounding countryside, as in my two Town Line Road listings by Lifton-Green which sold within in months of each other, and my current listing Rose Hill Point on Mecox Bay.

Any predictions for 2014? Based on 2013 year-end deals, a normally quiet period, I predict an exciting start to 2014 for new construction, re-sales and land.

Chris Chapin, Douglas Elliman What neighborhood saw the most change this year? Sagaponack has nearly completed its transformation from rural farm settlement to whatever it is now. But at least they are still growing corn and potatoes among the mansions.

Sum up 2013 in three words Sellers’ market returns.

Your favorite town this year and why Noyac still looks as if could be another place or another time. Even at the height of the summer season you can find quiet places to jump in the water.

Biggest building trend in 2013 Farrellization.

Trend you’d like to see crushed in 2014 Farrellization.

Any predictions for 2014? Hamptons real estate will level out a bit as buyers pick up oceanfront on the Jersey Shore for pennies on the dollar.

http://hamptons.curbed.com/archives/2013/12/30/hamptons_agents_sum_up_2013_in_real_estate_part_ii.php

The 7 Steps to Buying a Home | Bedford NY Real Estate

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You’ve finally found the home you love. Now what? Though every market is different, you can expect to follow these seven steps, from offer to closing.

1. Making an offer

If you’re sure the home you love is right for you, it’s time to make your move. This means writing up a formal purchase offer and signing a real estate contract.

Even though it’s early in the buying process, you still must sign a legally binding contract. With your signature, you’re committing to moving ahead with the seller. Keep in mind you can add contingencies to many real estate contracts. For example, most real estate buying offers will be contingent on a property inspection, as well as disclosure review, loan approval, appraisal and other matters. Such contingencies enable buyers to opt out of the contract if unexpected problems or concerns pop up.

2. Disclosures

In most states, sellers are legally required to provide buyers with disclosure documents, a preliminary title report, copies of city reports and any specific local documents. In California, for example, an earthquake hazards report or a geological survey is required as part of the disclosures. In some areas of the South, especially near the Gulf Coast, buyers usually receive flood maps and reports relevant to the property being considered.

In addition, sellers must disclose any known issues that might affect the property’s value or habitability. Usually, in a transfer disclosure statement, sellers must answer a series of “yes” or “no” questions about the property, the neighborhood and their experience there. If there have been leaky windows, violations from the city, work done without permits or plans for a major nearby development, the seller must disclose them. If there are significant issues, the seller’s agent would likely have brought them up before the contract signing. But if something is disclosed here that is a negative factor for you, it is your “out” of the contract.

3. The appraisal

Most buyers put a certain amount of money down toward the purchase price. The balance will come in the form of a bank loan (usually). But a bank isn’t going to hand over that money without due diligence. An appraisal is the financial institution’s way of making sure the contract price is the right price. So the lender sends out a third-party appraiser, which the buyer pays for, to confirm that the contract price is in line with the neighborhood’s comparable sales. If it’s not, the bank can deny the loan or change the terms.

 

 

http://www.zillow.com/blog/2013-12-26/the-7-steps-to-buying-a-home/

As governor, Donald Trump would overhaul Tappan Zee bridge for “peanuts” | Bedford NY Real Estate

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The Donald says he would easily trounce Republican gubernatorial frontrunner Rob Astorino should he decide to run in 2014 thanks to his plentiful personal coffers and a much cheaper proposal for overhauling the Tappan Zee bridge.

Dubbing Astorino a “big, big long shot,” Donald Trump told WGDJ’s Fred Dicker in a radio interview that the establishment favorite would have to raise “$30 million at least” to finance a successful bid for the top job in Albany, according to Capital New York.

“I think I’d win if I decide to do it, because I wouldn’t have to raise money,” Trump said in the interview.

He also offered up an alternative to a current plan to replace the Tappan Zee bridge that would cost as much as $10 billion and necessitate a $25-per-car toll. Without specifying how he arrived at those numbers, Trump said that he could renovate the existing structure for “peanuts” in comparison to the state’s current replacement plan.

“The bridge is a totally fine structure, but it needs renewal, and the renewal can be done for a tiny fraction of the, in my opinion, $10 billion,” he said in the radio interview. “You get the right engineers — I mean the right people — not the egg heads that sit on their Park Avenue stools and they just design away because they’re going to make about ten times or a hundred times more in fees by designing a new bridge.”

The Thruway Authority, which holds the bridge construction contract, did not immediately comment to Capital New York on Trump’s statements, nor did Governor Cuomo’s office. [Capital New York]

 

 

http://therealdeal.com/blog/2013/12/23/as-governor-donald-trump-would-overhaul-tappan-zee-bridge-for-peanuts/

 

Solar energy finally gets a push in NY | Bedford NY Real Estate

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An array of shimmering panels covering 3 acres in New York’s Finger Lakes is a sign of the state’s latest push to catch up to its neighbors in the Northeast that have set the pace in recent years for promoting solar energy.

The project in Romulus, N.Y., that will produce much of the electricity for the Seneca County sheriff’s department, was funded in part with a grant of almost $1 million from the state’s NY-Sun program. The initiative by Gov. Andrew Cuomo’s administration will provide tens of millions of dollars a year for public and private projects producing at least a megawatt of solar power, the equivalent of about 200 typical residential installations.

An initial round of competition in 2012 allocated $30 million to 16 developers in New York City and the Hudson Valley who planned to put a total of 34 megawatts online by the end of this year.

One aim of NY-Sun is to help meet goals for increasing the share of the state’s energy needs covered by renewable sources, now dominated by hydropower. Another is to close the gap with other states that moved more aggressively and quickly to encourage development of solar.

Massachusetts, for example, saw 129 megawatts of solar installed in 2012 compared to 60 in New York, according to an industry group. At the same time, 415 megawatts were installed in New Jersey, where regulatory policy created a system that has utilities effectively subsidizing solar owners to meet renewable energy standards.

“It quickly comes down to policies,” said Michael Johnson, a California-based expert on funding such projects, who returned to his home county this month to help flip the switch on the Romulus system. “Every state does it their own way.”

Developers say Massachusetts and Vermont outpaced New York, in part, because of more generous incentives for a wider range of projects.

 

 

http://www.crainsnewyork.com/article/20131223/REAL_ESTATE/131229976

Existing home sales fell for the third straight month | Bedford NY Real Estate

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Existing home sales fell 4.3% in November but as higher interest rates and tight inventory dampened the market, the National Association of Realtors said Thursday.

Sales dropped for the third straight month to a seasonally adjusted annual rate of 4.9 million from 5.12 million in October.

That was 1.2% off the November 2012 pace and the first time in 29 months that sales were below year ago levels.

Economists’ median forecast was for a November rate of 5.1 million, according to a survey by Action Economics.

Home sales are being hurt by higher mortgage interest rates, limited inventory and tight credit, says Lawrence Yun, NAR chief economist.

The national median existing price was $196,300 in November, up 9.4% from the year before.

Distressed homes accounted for 14% of November sales, unchanged from October.

Inventory expanded to a 5.1 month supply, up from 4.9 months in October. That means all homes would be sold in that time frame at the current sales rate. A six or seven month supply is a balanced market.

In November, the inventory of existing homes for sale was 5% above a year ago, NAR says. The supply of homes for sale is up 8.4% from when it bottomed in January, on a seasonally adjusted basis, says Jed Kolko, Trulia economist.

More homes for sale mean buyers have more choices, which may lead to lower price gains going forward.

The report comes a day after a strong showing for November housing starts and the Federal Reserve’s announcement that it will trim its bond buying starting next month.

The Fed’s tapering, which was expected, will likely drive mortgage interest rates higher. That’ll be “a tough reality check for many homebuyers,” says Ellen Haberle, economist for real estate brokerage Redfin.

 

 

http://www.usatoday.com/story/money/business/2013/12/19/existing-home-sales-november/4115407/

 

Bedford home invasion: Queens man, 23, sentenced to 15 years | Bedford NY Real Estate

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An illegal Polish immigrant who terrorized a Bedford family in a home invasion, barn-burning and extortion plot last year was sentenced Tuesday to 15 years in federal prison.

U.S. District Judge Kenneth Karas went above the sentencing guidelines for Bartek Zajkowski, calling what the 23-year-old Queens man did “an exceptionally evil and cowardly crime.”

Zajkowski apologized, calling his crimes “the actions of a boy,” after hearing victim Leonardo LeBrun discuss the ongoing trauma his family is experiencing. LeBrun said his wife does not leave the house without their new guard dog and his youngest child, a 6-year-old daughter, does not walk around the house at night unattended.

“This is a deep and lasting emotional distress that’s really changed our lives forever,” said LeBrun, a former top executive at UBS Bank. “We’re suffering every day for what he’s done to us.”

Dressed in black, wearing a mask and carrying a BB gun, Zajkowski approached the Broad Brook Road mansion on the night of May 5, 2012. He encountered LeBrun in the driveway, tied his arms and legs and duct-taped his mouth. He took LeBrun’s wallet and watch, then went inside and confronted LeBrun’s wife, Lara LeBrun. She fought back and was shot in the stomach with a BB before Zajkowski tied her up as well.

She freed herself and triggered the alarm. Zajkowski fled the house without any of the expensive paintings or gold bullion that was inside.

But he didn’t stay away for long.

Two days later, a barn on the LeBruns’ property burned down. A week after that, the couple received a letter demanding they wire $3 million to a bank account in the Netherlands within five days or their three children would be harmed.

Zajkowski revealed how much he knew about the LeBruns’ children’s routines, like what time their son would get off the school bus. He also indicated he had been watching the property while the barn burned down, and said the fire was set in retaliation for Lara LeBrun’s feistiness during the home invasion.

“Your wife mess with me, she should let me do my thing,” he wrote. “For that she can consider her horses very lucky that they didn’t fry in that barn. Imagine running horses on fire …”

 

 

http://www.lohud.com/article/20131217/NEWS/312170048/Man-who-terrorized-Bedford-family-home-invasion-gets-15-years

 

For Only $15M, Be a ‘Pearl Within a Life-Size Abalone Shell’ | Bedford NY Real Estate

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Location: Laguna Beach, Calif. Price: $15,000,000 The Skinny: The brokerbabble for The Rockhouse, as it’s called, surreally claims that living in this beachfront home “evokes the feeling of being a pearl within a life-size abalone shell”, but an equally apt analogy might be that it evokes the feeling of being trapped in Ursula’s lair in a scene from The Little Mermaid. The listing wisely avoids drawing that connection, though, instead laying the responsibility for inspiring this “synergistic marriage of architecture and art” at the unwitting feet of Antoni Gaudi and the city of Barcelona. Besides the clamshell décor, the most notable aspect of this Brion Jeanette design is its location inside Aliso Rock, a gigantic stone that sat peacefully on this beach for eons, watching a million gentle tides come and go, before being split asunder to make room for this house. The two-bedroom, three-bathroom home—which does have nice ocean views!—is asking $15M.

· 31107 Coast Highway [Surterre Properties] · 31107 Coast Highway [Zillow]