Category Archives: North Salem

Mortgage Rates at New Lows in Early 2015 | North Salem Real Estate

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Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates falling again amid declining bond yields and oil prices. Averaging 3.63 percent, the 30-year fixed-rate mortgage is at its lowest level since the week ending May 23, 2013 when it averaged 3.59 percent.

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 3.63 percent with an average 0.7 point for the week ending January 22, 2015, down from last week when it averaged 3.66 percent. A year ago at this time, the 30-year FRM averaged 4.39 percent.
  • 15-year FRM this week averaged 2.93 percent with an average 0.6 point, down from last week when it averaged 2.98 percent. A year ago at this time, the 15-year FRM averaged 3.44 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.83 percent this week with an average 0.4 point, down from last week when it averaged 2.90 percent. A year ago, the 5-year ARM averaged 3.15 percent.
  • 1-year Treasury-indexed ARM averaged 2.37 percent this week with an average 0.4 point, unchanged from last week. At this time last year, the 1-year ARM averaged 2.54 percent.

Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following links for theRegional and National Mortgage Rate Details and Definitions. Borrowers may still pay closing costs which are not included in the survey.

Quotes
Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac.

“Mortgage rates continued to fall, albeit at a slower pace, with the 30-year fixed rate mortgage averaging 3.63 percent this week. Housing starts picked up in December coming in at a seasonally adjusted 1.089 million unit pace and beating market expectations. Meanwhile, the drop in energy prices pushed the Producer Price Index down 0.3 percent for December and the Consumer Price Index fell 0.4 percent.”

Designing beautiful welcome spots | North Salem #Realtor

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First impressions are lasting impressions. That’s why creating a stylish, yet organized entryway benefits both you and your guests. Such an entryway is more than a simple doorway — it’s a transitional space from the outside world to the comfort of your home.

The entryway also offers visitors the first view of your home, so its significance is greater than its size. Your entryway should reflect your home’s style and create a single point from which all the other rooms flow. Doing a garage door repair is one of the most difficult things to face especially if you are not familiar with technical DIY home repairs. Because garage doors are a combination of complicated electronics, hard-to-understand mechanical workings and hard-to-handle materials, most people shy away from doing these repairs and just leave it to a door technician to fix the job. The problem is, repairing of the doors in your garage might cost you a lot of money. A simple garage door installation already costs close to a thousand dollars, Hiring technicians to repair your door’s simple problems will only add up to your expenses. If you have a door in your garage that does not fully go down when it is closed and it springs right back up before even reaching the ground, the main culprit is usually a misplaced door sensor. A door sensor that is not placed properly will most certainly cause your garage door to do unwarranted acts such as not closing down 100%. To fix this, just place your door sensors a little lower than your current placement. You might also want to check if there are objects and hindrances blocking the sensor because it can also contribute to the said problem. Here at Metro Garage Door Repair, we are committed to providing you with the best affordable service in the Dallas- Fort Worth metro area. You can learn more here about the Dallas garage door repair. Those searching for the best garage door repair in San Diego are in luck because with help from the ADSAutomaticDoorSpecialists, you can ensure that the garage door you use often is able to be used again, or that it is running and working how it should be. Your garage door is used for a multitude of things, and when it is not working then you need to call in someone able to provide help. This help is essential in making sure that the door gets back on track to providing the best way to get in and out of the space you are trying to access. Of course, insulation is one of the biggest issues that homeowners have with their garage doors, and in their homes. Making sure this is taken care of is going to solve a lot of issues that you may currently be dealing with. It is not recommended that you insulate the garage door, as this needs to be lifted to let people and cars come in and out from the garage. When there is insulation or other issues that are stuck to the door of the garage, this is going to cause the door to be weighted down, it can be something to cause distress to the doors. Additionally, it is important that you hire a professional to come in and do the insulating and deal with other factors for your door and the garage. The kits might not recommend the best course of action for you to take. If you use the kits and find that this actually does more harm than good, then it might be best to speak with someone that understands and knows how these garage doors work and how they can provide the help needed.

The function

Realistically, entryways are drop zones. Car keys, purses, grocery bags and backpacks — not to mention mail, cell phones, and shoes, coats and scarves — all end up being set down in this space.

Source: Zillow Digs

Is there a closet for coats, umbrellas and hats? If not, a row of hooks can make a good stand-in, as can an old-fashioned hall tree. Baskets mounted on the wall or set on the floor can hold scarves, gloves and hats. A tall canister will keep umbrellas in one spot.

The storage

A console piece with drawers can work wonders as a charging station, and hold mail, keys, garage door remotes and dog leashes for regular walks.

Source: Zillow Digs

If you ask people to take off their shoes at the door, a chair or bench offers a good landing spot. One with storage space underneath is a good option. In tight spaces, you might look for a stool or an ottoman that can slide away under a console table.

For shoe storage, consider cubbies, under-bench storage or even a set of shelves. A simple metal tray will keep rain- and snow-soaked shoes from ruining the floors beneath.

The flow

Keep adjacent rooms in mind when designing your entryway. This space should set the stage for rooms that are immediately visible and establish the flow for the overall home. Color, furniture styling, lighting and artwork need not be identical, but they should be related.

Source: Zillow Digs

The extras

Once you’ve taken care of the necessities, add the extras that will make your entryway truly yours.

A rug will define the space, especially if the entry is part of a larger space such as a living room. A mirror can make the space seem larger, as well as allow a last-minute visual check before heading out the door.

An entryway is also a great spot for a signature piece of furniture or art, or a series of decorative pieces.

with art

Lamps will give the space a warm touch and add needed lighting. An overhead fixture can make a statement upon entry, or even serve as a different type of artwork. Plants and fresh flowers are always welcome.

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http://www.zillow.com/blog/designing-tidy-stylish-entryway-167811/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+ZillowBlog+%28Zillow+Blog%29

15 Hopelessly Scenic Cabins | North Salem Real Estate

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Winter doesn’t have to be freezing and miserable. As Scandinavians, Vermonters, and ski enthusiasts have long known, watching the snow fall from inside a stylish cabin can be downright enjoyable. Lately architects have been veering away from the rustic wooden structures of yore, and moving toward glass-walled winter homes with views from all sides, irregularly-shaped cabins that blend into their surroundings, and even domes and treehouses. From high-design mobile huts in the mountains of Washington State to a decadent 11,000-square-foot ski chalet in the French Alps with a cinema and indoor pool, here are 15 of the most ingenious new winter cabins.

 

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http://curbed.com/archives/2015/01/06/15-hopelessly-scenic-cabins-to-keep-you-from-hating-winter.php

 

November Sales Lay an Egg | North Salem Real Estate

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Just as the housing industry was preparing to celebrate the first year in a decade when sales progressed at a relatively moderate pace and experts from coast to coast were heralding a return to normalcy, November existing home sales laid the biggest egg in four years.

Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, fell 6.1 percent to a seasonally adjusted annual rate of 4.93 million in November from a downwardly-revised 5.25 million in October. Sales dropped to their lowest annual pace since May (4.91 million) but are above year-over-year levels (up 2.1 percent from last November) for the second straight month, according to the National Association of Realtors.

If November’s anemic showing is repeated in December, the real estate industry will see sales end the year below the symbolic 5 million mark, a serious sign that the recovering is faltering. Last year sales reached a total 5.09 million units, which was 9.1 percent higher than 2012. It was the strongest performance since 2006 when sales reached an unsustainably high 6.48 million sales were the highest since 2006, and median prices maintained strong growth, after rising 1 percent over November.

NAR characterized November’s performance as “losing momentum” and NAR Chief Economist Lawrence said sales activity was “choppy” throughout the country.  “Fewer people bought homes last month despite interest rates being at their lowest levels of the year,” he said. “The stock market swings in October may have impacted some consumers’ psyches and therefore led to fewer November closings. Furthermore, rising home values are causing more investors to retreat from the market.”

The median existing-home price for all housing types in November was $205,300, which is 5.0 percent above November 2013. This marks the 33rd consecutive month of year-over-year price gains.

Total housing inventory at the end of November fell 6.7 percent to 2.09 million existing homes available for sale, which represents a 5.1-month supply at the current sales pace – unchanged from last month. Despite the tightening in supply, unsold inventory remains 2.0 percent higher than a year ago, when there were 2.05 million existing homes available for sale.

All-cash sales were 25 percent of transactions in November, down from 27 percent in October and 32 percent in November of last year.  Individual investors, who account for many cash sales, purchased 15 percent of homes in November, unchanged from last month and below November 2013 (19 percent). Sixty-one percent of investors paid cash in November.

 

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http://www.realestateeconomywatch.com/2014/12/november-sales-lay-an-egg/

Bathroom Design Ideas | North Salem Real Estate

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If you’ve been thinking about giving your bathroom an overhaul but aren’t sure how, one way to start is to look to the latest design trends for inspiration. We’ve made it our mission to find out what design ideas are expected to make a splash in 2015 to help make planning your bathroom makeover project a little bit easier.To compile our list, we enlisted the help of four award-winning designers, who share here their predictions for thelooks, finishes and features they think will be on everyone’s radar next year. They also reveal how they would work these ideas into their own projects. Start building your beautiful frameless glass shower now, use Glass Shower Direct’s simple glass shower builder to customize your perfect glass shower and have it shipped to your door directly from the factory.

Contemporary Bathroom by Roselind Wilson Design
Roselind Wilson Design
1. Feature floor tiles. Statement-making floor tiles proved popular in 2014, and this striking look doesn’t appear to be leaving in a hurry, says interior designer Jasmine McClelland. “I have done a couple of feature floor bathrooms this year. They are stunning and provide a great design opportunity when working with challenging bathrooms that have no clear walls for a feature wall,” she says.

“In smaller bathrooms a feature floor tile adds style without overwhelming the space, and when used in a larger bathroom, the effect is elegant,” McClelland says. “I love the space when the freestanding bath hits the feature tile … beautiful!”

Contemporary Bathroom by Mark Brand Architecture
Mark Brand Architecture
2. Natural beauty. Want a bathing area that’s welcoming and serene? Then drawing design inspiration from nature is a great way to warm a typically very hard room of the house and infuse the space with a calming vibe. It’s one of the key bathroom trends of 2015, according to designers Simona Castagna and Darren Genner of Minosa.

An easy way to incorporate this trend into a bathroom design, Castagna and Genner say, is to buy frameless shower door or introduce earthy materials like natural stone or wood-look tiles. The luxe bath seen here features marble floors and an onyx countertop, as well as a walnut-plank feature wall.

Contemporary Bathroom by Janet Paik
Janet Paik
3. Plant life. “I know some of us have been scared off indoor plants … but it’s time to reclaim the idea of indoor plants with cascading creepers that can dress any bathroom,” McClelland says.

If you’re eager to try this trend in your bathroom but want a more sophisticated and design-savvy alternative to potted plants (hanging or not), a vertical garden may be the way to go, McClelland says.

“I love them for the interest and feel they bring to a bathroom and can’t wait to use them more in my designs for 2015,” the designer says. Another benefit of green or living walls is that they are good for the environment (as well as your health and well-being), she says.

Modern Bathroom by MINOSA
MINOSA
4. The master suite retreat. Is your master bathroom cramped, not particularly inviting and tucked away out of sight? Then you may be more than happy to try this design trend when renovating your home.

Castagna and Genner say people want bigger bathrooms that are connected to the bedroom or closet, or even more open to the bedroom. People want to see their beautiful basins, custom vanities and freestanding baths from the bedroom, say the designers, who were the team behind the luxe, open-plan bedroom and en suite pictured here. They’re also using bigger sliding doors so people can open up or close off a space.

Contemporary Bathroom by Jordan Smith
Jordan Smith
5. Clever water control. Say goodbye to basic shower and basin faucets, and hello to smart, user-friendly fixtures (such as thermostatic mixers; mixers that control multiple water sources, like the one used in this shower; and touchscreen-operated showers) that give users more control over the flow, mix and temperature of water, says Adelaide, Australia, interior designer Jordan Smith of Brilliant.

“Double showers would be a good place to use this, as multiple people can use the shower at the same time, with individual settings for their own shower,” Smith suggests when explaining how she’d incorporate this trend into one of her designs. “One mixer can control both multiple showers or a combination shower-bath.”

Contemporary Bathroom by Jasmine McClelland Design
Jasmine McClelland Design
6. Freestanding bathtubs. According to McClelland, our love affair with freestanding baths isn’t over just yet, and not just because they make striking, sculptural design features, but because they help set the mood for rest and relaxation too. “The freestanding bath is more than aesthetic — it is emotive,” the designer says. “Clients connect with the possibility of a bathroom that symbolizes their own space or downtime, and a freestanding bath inspires this feeling of self-indulgence in the midst of a busy life.”
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http://www.houzz.com/ideabooks/34677209?utm_source=Houzz&utm_campaign=u860&utm_medium=email&utm_content=gallery0

Farmers Markets | North Salem Real Estate

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JAN2014-DTE-E-Mail-Masthead_(722x226pxl)FRESH-2-(1
 
Rye’s Down to Earth Farmers Market
has been EXTENDED by 2 weeks!

We’ll be open every Sunday, through December 21st, from 8:30 am-2:00 pm

Located in the parking lot on Theodore Fremd Avenue (behind Purchase St. stores)
fall collage again

The following farms and food makers will sell fresh foods – and holiday gifts! – at some or all of the upcoming Sunday markets. Please visit the webpage of Rye’s Down to Earth Farmers Market for full details.

Alpacatrax – Yarn, roving, and finished goods made from alpaca fibers

Bombay Emerald Chutney Company

Christiane’s Backstube – German-inspired baked goods

Dr. Pickle

Karl Family Farms

Meredith’s Bread

Migliorelli Farm

Newgate Farms​ – Seasonal foods, hand-crafted holiday wreaths, and more

Our Daily Bread

Pie Lady & Son

Simple Eats with Chef T – Healthy prepared foods to go

Taiim Falafel Shack

Tierra Farm

Yellow Bell Farm
Thank you for supporting local farms and food businesses!

Down to Earth Markets is a certified B (Beneficial) Corporation that manages farmers markets in Westchester County, Rockland County, and New York City. We believe that seasonal, local food is a vital part of our heritage that ensures the health of our communities and environment.
Visit DowntoEarthMarkets.com for updates on the Rye Farmers Market, as well as to learn more about our company.

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Ready for Big Mortgage Rate Increases | North Salem Real Estate

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A decade ago, the housing market was heading into the busiest years of the bubble. Ten years later, hundreds of thousands of homeowners are about to get a nasty surprise. As their loans turn 10 years old, they will see their monthly loan payments reset higher—in some cases more than double.

The trouble is coming for loans that had such features as adjustable rates and interest-only periods that let homeowners borrow more than they would have been able to afford via a typical fixed-rate loan. Subprime loans have typically been resetting after three years or five years; the more borrowers’ monthly payments went up, the more likely they were to fall behind on their loans.

A report from Fitch Ratings says this problem impends for more than 700,000 borrowers who took out prime jumbo loans—mortgages larger than what Fannie Mae (FNMA) and Freddie Mac (FMCC) allowed—and Alt-A loans, which went to borrowers whose credit scores placed them between prime and subprime. More subprime loans have already reset than the total number of affected prime jumbo and Alt-A loans, but payments for the newest batch will increase far more than they did for the subprime loans.

 

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http://www.businessweek.com/articles/2014-12-01/monthly-mortgage-payments-could-aoar-as-loans-reset?campaign_id=yhoo

Mortgages average 3.97% | North Salem Real Estate

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Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates flat to down slightly from the previous week with the average 30-year fixed-rate mortgage remaining below four percent.

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 3.97 percent with an average 0.5 point for the week ending November 26, 2014, down from last week when it averaged 3.99 percent. A year ago at this time, the 30-year FRM averaged 4.29 percent.
  • 15-year FRM this week averaged 3.17 percent with an average 0.5 point, unchanged from last week. A year ago at this time, the 15-year FRM averaged 3.30 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.01 percent this week with an average 0.5 point, unchanged from last week. A year ago, the 5-year ARM averaged 2.94 percent.
  • 1-year Treasury-indexed ARM averaged 2.44 percent this week with an average 0.4 point, unchanged from last week. At this time last year, the 1-year ARM averaged 2.60 percent.

Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following links for the Regional and National Mortgage Rate Details and Definitions. Borrowers may still pay closing costs which are not included in the survey.

Quotes
Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac.

“Mortgage rates were little changed on the week with the 30-year fixed-rate mortgage declining to 3.97 percent. This comes during a week of uplifting economic news heading into the holiday; GDP growth was revised up in the third quarter from 3.5 percent to 3.9 percent, while existing homes sold at a 5.26 million unit pace in October, topping expectations of 5.15 million units.”

Recent Numbers Show Prices of New Homes Increase in New York, Sales Decrease | North Salem Real Estate

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New home closings in the New York, NY market dropped year-over-year in July, and the market seemed to be weakening with a percentage fall steeper than in June 2014. New home closings saw a drop of 29.4% from the year earlier to 456. This came on the heels of a 21.9% decline year-over-year in June.

A total of 6,057 new homes were sold during the 12 months that ended in July, down from 6,247 for the year that ended in June.

New home closings made up 3.3% of overall housing closings. A year earlier, new home closings represented 4.2% of total closings. For new and existing homes, closings dropped in July after also declining in June year-over-year.

Pricing and Mortgage Trends

Average price of newly sold homes had a 3.1% lift year-over-year to $629,340 per unit in July. This hike compares to a 4.9% drop in June from a year earlier.

For newly sold homes, the average mortgage size increased year-over-year along with new home prices. The average mortgage size rose to $450,513 in July, marking a 7.5% surge compared with a year earlier. In June 2014, average mortgage size fell 6.7% from a year earlier.

Other Market Trends

As a share of new home closings, single-family home closings have climbed from last year while the share belonging to attached units has fallen. The share of new home closings belonging to single-family homes rose from 40.9% in July 2013 to 43.6% of closings in July 2014. Meanwhile, attached units as a percentage of all new home closings slid to 56.4% of closings from 59.1% of closings.

The average unit size of newly sold homes sank 41.1% year-over-year to 1,417 square feet in July 2014. In June, the average size of new homes sold went from 2,189 square feet a year earlier to 1,717 square feet.

Foreclosures and real estate owned (REO) closings rose in July from a year earlier and did not look to be a burden on the market. Combined, foreclosures plus REO closings represented 10.4% of existing home closings, above 9.0% a year earlier. The percentage of existing home closings involving foreclosures went from 5.6% in July 2013 to 6.1% in July 2014 and REO closings moved from 3.4% of existing home closings in July 2013 to 4.3% in July 2014.

 

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http://www.builderonline.com/land/local-markets/recent-numbers-show-prices-of-new-homes-increase-in-new-york-sales-decrease_g?he=bd1fdc24fd8e2adb3989dffba484790dcdb46483

Be the Second Owner Ever of This Groovy Mid-Century Mod in Sherman Oaks | North Salem Real Estate

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30 images

Hitting the market for the first time since being built in 1964 is this mid-century modern in the Royal Woods neighborhood of Sherman Oaks. While the five-bedroom, three-bath residence is definitely in need of a sensitive update (its remuddled kitchen is especially painful to contemplate), it’s not hard to envision it becoming quite a snazzy showplace. Among its many strong selling points are high ceilings, period light fixtures, a custom terrazzo entry, a wet bar, (some) original tile and countertops, built-ins, walls of glass, a swimming pool, and spectacular Valley and mountain views. Last but not least, it’s sited on a 1.19-acre lot. Asking price is a bidding-war-inciting $1.399 million.

 

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http://la.curbed.com/archives/2014/11/be_the_second_ever_owner_of_this_groovy_midcentury_mod_in_sherman_oaks.php