Category Archives: Waccabuc NY

All Eyes on Texas Real Estate as Oil Prices Plunge | Waccabuc Real Estate

Leave a reply

When you live in a state heavily influenced by oil, saddle up and hold on for the ride. What comes up must come down, and real estate has room on the downside. The real question is really just how much. My clients are all energy professionals, and when I visit with them, nine out of ten have one thing in mind: housing prices in Texas. They buy out of need, but wait… didn’t most people already buy when Texas was booming?

Demand poured in and buying was frenzied. Now, demand is leveling off and prices will too. Where you purchased will dictate whether it will be a reward or a risk. If you think you’ll find a goldmine this time around, think again. The last time I saw a foreclosure in Tanglewood, Houston people were lined up for showings, and that was when banks weren’t even lending money. Now, Texas has more money pouring into the economy from all parts of the globe and a “deal” might mean just being happy with current pricing.

Considering residential pricing is not at $2500.00 per square foot yet, there are lots of deals in the area; but it’s all relative to what you’re used to. Getting a property that’s already discounted is a pretty good deal even though it doesn’t have a sale tag on it. But watch out for those new high rises, now that crude is at $50.00 per barrel, you may want to think twice about buying that new penthouse. If you have already purchased when crude was priced at $100.00, well, let’s just say you might have to wait for the next merry-go-round.  High-rises take as long to build as a boom, so by the next time we see $80.00 oil, buyers will be back at those doorsteps again too.

 

read more…

 

All Eyes on Texas Real Estate as Oil Prices Plunge

 

Snap Up a Well Done North Haven Flip | #Waccabuc Real Estate

Leave a reply

The brokerbabble for this really lovely flip begins, “Just finished ground up renovation of Captains Manse.” And by “captains manse” we mean “1950s cape,” and by “Just finished ground up renovation” we mean “we shoved assloads of stacked stone everywhere!” All kidding aside, we’re pretty impressed with how stylish the house looks now. It’s been turned from a dowdy three-bed, two-bath to a handsome five bedroom, 4.5 bath house, with 3500sf. The natural materials and copious use of glass keeps the look cohesive, yet modern and airy. We particularly like the interesting lighting. The plot is 0.65 acres, and the original studio has been kept to adjoin the new pool, which is fenced with glass and stacked stone. The place previously sold for $945K; given the quality of the improvements, we don’t think $1.995M is ridiculous.

 

read more…

 

http://hamptons.curbed.com/archives/2015/01/13/snap_up_a_well_done_north_haven_flip_asking_1995m.php

Obama: Help for younger, first-time homebuyers | Waccabuc Real Estate

Leave a reply

President Barack Obama Wednesday moved to make it cheaper for first-time and younger buyers to take out a mortgage.

Obama lowered the mortgage-insurance premium for borrowers who have a down payment of just 3.5 percent of the total home’s purchase price and finance the rest of the purchase with a loan backed by the Federal Housing Administration.

The reduction is expected to save the typical first time homebuyer an average of $900 a year on the insurance, the White House said. The insurance is required because they’re financing so much of the puchase and the loans are riskier.

Existing homeowners who refinance into an FHA mortgage will see similar reductions, the White House said.

The White House estimated that the change will help 800,000 homeowners save on their mortgages and 250,000 new buyers save on mortgage payments over the next three years.

Obama, expected to highlight the lower cost mortgages during a visit to Arizona on Thursday, has been under pressure from the housing sector to help lower costs for borrowers seeking to buy with a low down payment – often younger buyers and first-time home buyers, both a crucial link in home sales.

“We do not see first-time buyers getting into the marketplace. They don’t have a chance to get onto that first rung of housing,” said Chris Kutzkey, president of the California Association of Realtors.

While mortgage lending rates have been near record lows for several years, that has benefited the most creditworthy borrowers, who are often the wealthiest of home buyers. The middle-income segment of the market, with higher debt loads, has faced tougher lending standards. Stagnant income has crimped their ability to put more down towards a home purchase.

“Mortgage underwriting standards have been overly stringent,” said Lawrence Yun, chief economist for the National Association of Realtors.

The premiums rose sharply after the financial collapse, and have not come down even as the economy and housing market have improved.

“It’s almost as if government is ripping off the consumers,” complained Yun, noting that premiums were raised to minimize risks to taxpayers of borrowers defaulting on government-backed loans. “But what has happened is they were punishing current borrowers for the sins of past mistakes. Current borrowers did not harm the market, but they are paying the excessively high premiums.”

One consequence is the shrinking number of new homeowners. Over the past four years, first-time home buyers shrank as a percentage of all FHA loans – from 56 percent down to 39 percent, he said.

Read more….
http://www.theolympian.com/2015/01/07/3513236/obama-help-for-younger-first-time.html?sp=/99/102/#storylink=cpy

Housing Share of GDP at 15.2% for Third Quarter | Waccabuc Real Estate

Leave a reply

Economic growth in the third quarter was certainly good news for housing and the overall economy. The final estimate of GDP growth from the BEA was a 5% seasonally adjusted annual growth rate, up from 3.5% and 3.9% in the first and second estimates respectively.

As of the third quarter of 2014, housing’s share of gross domestic product (GDP) was 15.24%, with home building and remodeling yielding 3.08 percentage points of that total.

housing share of GDP_3q14

Housing-related activities contribute to GDP in two basic ways.

The first is through residential fixed investment (RFI). RFI is effectively the measure of the home building and remodeling contribution to GDP. It includes construction of new single-family and multifamily structures, residential remodeling, production of manufactured homes and brokers’ fees. For the second quarter, RFI was 3.08% of the economy.

The RFI component reached a $500 billion annualized pace during the second quarter. This is the second highest quarterly total for RFI since the middle of 2008.

The second impact of housing on GDP is the measure of housing services, which includes gross rents (including utilities) paid by renters, and owners’ imputed rent (an estimate of how much it would cost to rent owner-occupied units) and utility payments. The inclusion of owners’ imputed rent is necessary from a national income accounting approach because without this measure increases in homeownership would result in declines for GDP. For the second quarter, housing services was 12.16% of the economy.

Historically, RFI has averaged roughly 5% of GDP while housing services have averaged between 12% and 13%, for a combined 17% to 18% of GDP. These shares tend to vary over the business cycle.

 

read more…

 

http://eyeonhousing.org/2015/01/housing-share-of-gdp-at-15-2-for-third-quarter/

 

Universal Design Details You’re Forgetting | #Waccabuc Real Estate

Leave a reply

 

When Rosemarie Rossetti lost the use of her legs in a freak accident in 1998, she and her husband Mark Leder focused on getting her well. Their experience has become a critique on traditional homebuilding and an impressive exercise in true universal design. Finding the home they lived in would never work for Rosemarie’s new needs, the couple was further discouraged by the dearth of universal design options offered by area builders. Their solution was to become general contractors themselves and built the ultimate universal design custom home.

Today, the Universal Design Living Laboratory is Rosemarie and Mark’s home and office, and an education center for builders, architects, and the public to learn how to create homes that work for all of their residents, no matter their age or ability. Products editor Lauren Hunter recently toured the UDLL and found a number of details worth sharing. Here are nine of her favorites.

Safe and Sound: Knox Box
In emergency situations, first responders will gain access to a home in the most efficient ways possible. If this means breaking down a door, so be it – unless you have a Knox Box. This mini safe works similarly to a lock box that a Realtor might use when showing a home. The fire department has a key to the Knox Box, which stores your emergency house key inside, allowing them to open a door properly rather than breaking it down. Because, as Mark points out, the last thing homeowners should be thinking about in an emergency situation is how much door replacement costs.

Outdoor Enjoyment: Planter Boxes
Adjusting to life in a wheelchair made Rosemarie’s love of gardening a challenge. Mark says chair-height planters bring the gardening to a convenient height for Rosemarie to roll up to and tend any time she likes. The landscaped back yard also incorporates paver ramps and pathways so the couple can enjoy all of its amenities together.

See Through: Multi-level Peep Holes
Traditional entry doors have peep holes positioned at a height between 60 and 66 inches. Consider adding a peephole at closer to 48 inches for wheelchair users, children, and homeowners short of stature. Or, let the door glass do the work for you. In addition to daylighting as a universal design benefit, the glass in this ProVia door has clear panes for viewing at three different heights in the door.

Cooking Confidence: Easy Access Burners
ADA-compliant ranges put the cooktop controls at the front of the appliance so users can access them easily without reaching over hot surfaces. The UDLL takes things a step further by installing individual burners side by side in the cooking area, eliminating the problem of hard-to-reach back burners. In this configuration, Rosemarie can easily and safely reach each cooking element, as well as vent hood controls.

read more…

 

http://www.remodeling.hw.net/business/design/9-universal-design-details-youre-forgetting_o?utm_source=newsletter&utm_content=jump&utm_medium=email&utm_campaign=RDU_121714&day=2014-12-17

 

Keep Your Houseplants Healthy Through the Winter | Waccabuc Real Estate

Leave a reply

 

Even though your plant resides in a pot indoors, it’s still keenly aware of the seasons. With shorter days, drier air and cooler temperatures, winter is perhaps the most challenging time a year for houseplants.

The trick to helping plants endure the harsher conditions is simply modifying your care routine. Check out these tips to keep houseplants happy and alive this winter.

Limit watering

3326246813_79666b114d_o

Considering their growth rate is significantly slower during the winter, plants do not require as much water. Test the soil by putting your finger about one inch into the soil. If it feels dry, the plant needs a good soaking. Be sure to use lukewarm water.

Try a new window

From summer to winter, the angle of the sun changes, so place your plants near a different window for the season. You can also wash the window glass, inside and out, to help let in more light. Don’t forget to rotate the plants every so often to make sure they receive light evenly on all sides.

No food necessary

Because plants grow very little during the winter, fertilization is not necessary during these months. It’s best to withhold food until spring, when the days are much longer and the sun is stronger. Resume weekly feedings closer to spring to give plants a boost.

A good cleaning

Dusty leaves can clog pores, making it difficult for plants to fully absorb essential nutrients. Using a damp cloth, wipe the leaves to get rid of any dust or debris. A thorough cleaning will also help get rid of any unwanted pests.

Improve humidity

Houseplants prefer a humidity level of 40 to 50 percent. Unfortunately, during the winter months, the humidity level in heated homes tends to only be 10 to 20 percent.

To combat low humidity, frequently mist the plants, and put any tropical plants on a tray of rocks with a small amount of water. Or turn on a humidifier to cut through dry air.

Pay attention to temperature

Source: Zillow Digs

During the daytime, most plants prefer a temperature between 65 to 75 degrees Fahrenheit, and at night time about 10 to 15 degrees cooler. Dramatic fluctuations in temperature can be damaging, so it’s best to keep plants away from cold windows, or sources of heat, such as stoves, fireplaces and radiators.

Pruning

To stay healthy and attractive, plants need a little pruning from time to time as part of their maintenance. Many houseplants have soft stems, which make them relatively easily to prune — no tools required.

Using your thumb and forefinger, pinch off any dying flowers and remove any damaged leaves.

For thicker stemmed plants, pruners or sharp scissors may be necessary.

 

read more…

 

 

Cultured Austin Home with Exquisite Gardens | #Waccabuc Real Estate

Leave a reply

Exterior_Main_house.jpegPhotos by Zac Seewald

Location: Austin, Texas
Price: $4,500,000
The Skinny: One of the coolest residences in Austin is on the market. Built in 1979, the original structure was designed by architect Robert James Coot, and has since been transformed by additions from Paul Lamb in 1988 (the farmhouse style kitchen, outdoor dining area, and lower level guest suite) and Mell Lawrence in 2003 (the expanded master bedroom, the covered second-floor porch, and the first-floor bedroom suite). Broker Laura Gottesman describes the result as “eclectic but elegant,” and speaking of eclectic, as of 2007, it sits across from an almost Brutalist-looking, AIA Austin-approved concrete work studio, also designed by Lawrence. This swell hodgepodge has been listed for$4,500,000 by landscape architect James David, who has lived and worked on it for three decades with his partner, Gary Peese.

In the two acres of surrounding gardens, “terraces linked by limestone steps, landings and garden paths” sit alongside what’s essentially the showroom of David / Peese Design, the landscape architect firm the couple runs together. Their work here has been featured in House & Garden, Metropolitan Home,Garden Design, House Beautiful, and most importantly, for our purposes, Martha Stewart’s “field trip” series. Inside, the home has limestone and plaster finishings, and a diverse assemblage of furniture that a tasteful buyer should really try convincing them to part with, collected over the years by the couple behind Austin’s now-shuttered but fondly remembered home decor and gardening store, Gardens.

 

read more…

 

http://curbed.com/archives/2014/12/09/-james-david-home-for-sale-austin.php

Local Farmers Markets | Waccabuc Real Estate

Leave a reply

JAN2014-DTE-E-Mail-Masthead_(722x226pxl)FRESH-2-(1

 Alpacatrax Brings Yarn, Roving, & Finished Goods to Ossining & Rye;
SIX Rotating Vendors on Saturday in Larchmont;
COMPOST Debuts in Ossining with Creative Plantings + More

December 4-10th, 2014
DowntoEarthMarkets.com
GermanGinger
What’s New, In Season, and On Sale This Week
Down to Earth Markets Holiday Gift Guide – EXPLORE here!

Gift Boxes: Both in Chutney Varieties & Ayurvedic Spices
Bombay Emerald Chutney Company

Holiday Cookie Boxes,
Cupcakes, Linzer Cookies,
Pies & More
Meredith’s Bread

Lebkuchen – pictured above!
German gingerbread ornaments
Christiane’s Backstube

Marzipan Stollen
Sweet bread baked with raisins
& almonds
Christiane’s Backstube

 Roasted Butternut Squash & Corn Squash Samosas
Samosa Shack

Zimtsterne
Star-shaped cinnamon cookies
Christiane’s Backstube


Click on a Market to see all vendor and event details…                  


Ossining

Saturdays
8:30 am-1:00 pm
OPEN ALL YEAR

Moving Indoors to
Claremont Elementary School
Saturday, January 10, 2015

Larchmont

Saturdays
8:30 am-1:00 pm
Through Dec. 13th

Mamaroneck Winter
Opens
Saturday, January 3, 2015

Rye

Sundays
8:30 am-2:00 pm

**EXTENDED!**
Now through Dec. 21st

Headed to the city? We’ve got markets there, too. CLICK HERE for details. 

Announcements
Open This Weekend + Winter Farmers Markets

This weekend, our farmers markets in Ossining, Larchmont, and Rye are OPEN.

Also, we’re excited to host two winter markets in 2015:

The Mamaroneck Winter Farmers Market will open on Saturday, January 3rd at St. Thomas Episcopal Church, 9:00 am – 1:00 pm, through early May. It’s located at 168 W. Boston Post Road. AND…

We are thrilled to announce that the Ossining Winter Farmers Market will have an indoor home for the 2015 Winter Season. All your favorite vendors will be easy to find at Claremont Elementary School, on Van Corlandt Avenue, off of N. Highland Avenue/Route 9. (For GPS, the address is 2 Claremont Road).  According to Google Maps, it is ONLY a 3 minute drive from our main market home at the corner of Spring and Main Streets in downtown Ossining.

The Ossining Farmers Market will continue to take place in its current location through Saturday, December 27th, 2014. We’ll open in Claremont Elementary on Saturday, January 10th, 2015. See you there!

For additional events, visit our Down to Earth Markets Event Calendar.

Stay tuned to all market happenings via our Down to Earth Markets Facebook page
and follow us on Instagram and on Twitter @DowntoEarthMkts.

Rotating* Vendors This Week
*Vendors who rotate through various markets during the season.
They enjoy getting to know many communities, and here’s where to find them this week:
​
Larchmont

Aroma Roast Coffee
Calcutta Kitchens
Hudson River Apiaries
Pie Lady & Son
Samosa Shack
Simple Eats with Chef T (Healthy prepared foods to go)

Ossining

Alpacatrax (Yarns, roving, and finished goods made with Hudson Valley alpaca fibers)
Compost (Creative plantings for home; also make great host gifts)

Rye

Alpacatrax
Bombay Emerald Chutney Company
Christiane’s Backstube (German-inspired baked specialties, including holiday treats)
Simple Eats with Chef T

Rents Rose for Eight Straight Months | Waccabuc Real Estate

Leave a reply

The national annual effective rent growth reached 4.33% in October, a 2 basis point (bps) increase from September’s 4.31% and the highest point of the year to date, according to the latest data from Axiometrics.. October marked the eighth straight month in which effective rent growth has increased.

The continued strong effective rent growth indicates that the national apartment market is likely to finish the year above the 4% mark. Even taking seasonality into consideration, Axiometrics said it does not expect the market to change too drastically during the remaining two months of the year.

“Effective rent growth typically declines during the fourth quarter, but not so far in the ‘Year of the Apartment,’” said Stephanie McCleskey, Axiometrics Vice President of Research. “Even though the rate of increase has slowed, the fact the market is steady means that the factors fueling the strength of 2014 — job growth, desire to rent instead of own and barriers to homeownership — are still in force.”

YTD Rent Growth Remains Best in this Decade

Whether year-to-date (YTD) effective rent growth remains above 5% during the usual holiday-season leasing doldrums remains to be seen. “But it still looks like a good bet for 2014 YTD effective rent growth to be above 4.0%,” McCleskey said.

YTD effective growth measured 5.2% for the first 10 months of 2014, down 30 bps from September’s 5.5% but up 27 bps from the 4.9% YTD growth recorded in October 2010. The 2010 trend decreased by 40 bps to 4.5% during the last two months of that year; 2014′s rate would have to slide 67 bps to fall below the first year of this decade.

Occupancy Sagged in October

The national occupancy rate dropped to 94.9% in October, the first time it has been below 95% since April, but the news is good when taken in context. October 2014 occupancy is higher than any other October since at least 2008, when Axiometrics started reporting monthly, and occupancy is 95% on a same-store, annual basis.

 

read more…

 

http://www.realestateeconomywatch.com/2014/11/rents-rise-for-eight-straight-months/