Category Archives: Westchester NY

NYC Real Estate news | Bedford NY Real Estate

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Brown Harris Stevens’ Twitter handle reads, simply, “@Established1873.” The brokerage trades upon its distinguished lineage and generally manages to keep its white-gloved hands out of industry drama. But when real estate startup Urban Compass poached elite broker Kyle Blackmon last week, BHS president Hall Willkie decided it was time for those gloves to come off.

“Kyle has made the decision that the equity proposition offered to him trumps a singular focus on brokerage,” Willkie said in a statement to The Real Deal. He questioned the wisdom of that decision in an internal BHS memo that stated: “The value of Kyle’s or anyone’s equity will be dependent on the success of Urban Compass’ founders implementing their vision of selling their company for substantially more than many industry experts believe is possible.”

Willkie’s statement echoed what many in the industry have whispered – or shouted under the cloak of anonymity – for months. Urban Compass, these sources say, is merely an idea – albeit a well-choreographed, Ivy League and McKinsey-branded one. But even with a $360 million valuation, they ask, is it really the future?

Tech leg up? 

A screenshot of the Urban Compass app

Urban Compass has always stressed that its competitive advantage is superior technology, both for the consumer and the broker. “Just the way Apple made buying and listening to music significantly different, I think this company can have the same effect on real estate,” Urban Compass president and top-ranked broker Leonard Steinberg told TRD in June. But it’s still unclear to many in the industry, including former employees, what exactly that advantage is.

“Urban Compass likes to think that from Day One their technology was really differentiated,” said a former broker who left the company earlier this month. “The reality is their technology looked better but was actually behind and they were piecing it together from scratch.”

“It wasn’t a game-changer by any means,” the agent added.

Robert Reffkin, CEO of Urban Compass, acknowledged the difficulty he’s faced in creating believers out of those who haven’t seen the technology first-hand. “It’s hard,” he said during an interview Tuesday night at the startup’s Union Square headquarters. “How would you explain why the iPhone is better than the Samsung? Your users have to feel it and see it.”

While the existence of the technology in of itself isn’t novel, the intuitiveness of its design is — something that even the firm’s skeptics acknowledge. An agent using the mobile app who wants to send feedback to the firm’s engineers, for example, simply has to shake her mobile phone and a portal will pop up. Also via the app, clients who receive a listing from an agent can click to see a street view of the property, courtesy of Urban Compass’ own mapping technology that is similar to Google Street View.

Saving time is at the crux of Reffkin’s agenda. The average New York City agent spends 89 percent of their time performing administrative tasks, he said, citing the firm’s data. He wants his agents to have more time to spend with clients.

Sources said Urban Compass agents purchased up to 15 licenses to Real Plus’ electronic listing exchange. As recently as August, brokers were using popular listing databases like StreetEasy, On-Line Residential and Realty MX in lieu of the company’s own search engine.

Adam Fleming, who was Urban Compass’ head of engineering until he moved to real estate startup Honest Buildings in June, said that Urban Compass’ thesis “is empowering customers and agents to find each other in the right way and right time.”

Fleming, who declined to say why he left Urban Compass, said that the firm had a “pretty nice algorithm” that matches customers with appropriate agents. “Agents receive tremendous support inside Urban Compass,” he said, “that they don’t get anywhere else.”

Cherry picking

From left: Julia Hoagland, Timothy Rothman and Howard Spiegelman

Blackmon is the latest in a long line of big names to join the firm since ex-Elliman stalwart Steinberg came over in June. These include Julia Hoagland from BHS, Timothy Rothman and Howard Spiegelman from the Corcoran Group, Eugene Litvak from Citi Habitats, Roy Kim from Extell Development and Jay Glazer from Warburg Realty.

Without a concrete advantage early on, Urban Compass offered equity to lure top producers to its ranks. “The only differentiating factor they could offer was equity,” said a former broker. And as the startup continued its phenomenal fundraising run, the appeal of that equity stake kept rising.

Reffkin confirmed to TRD that the firm has offered equity to top brokers.

“Every advisory business I know gives equity to the people that help build it,” he said. “A real estate brokerage should do the same. Some of these agents have built their companies with the brand they [help to] create.”

The head of a rival brokerage cited the equity as Urban Compass’ main draw. “Aside from the ones they [Urban Compass] bought – Julia Hoagland, Kyle Blackmon, Leonard Steinberg – they haven’t attracted any top brokers,” the brokerage head said.

Another former agent who was among Urban Compass’ first hires said that when she left the firm after 18 months, she walked away from an equity stake. “I didn’t believe it was worth anything at the end of the day,” she said. “The idea was that they were going to be different from other brokerages and that was always the plan. Then every time we executed one of the ideas that they had, they realized this doesn’t work.” In May, for example, the startup shifted from a neighborhood specialist-driven model to one more in line with a traditional brokerage’s, and pivoted from rentals to sales, which also put the firm on a mission to recruit top agents.

– See more at: http://therealdeal.com/blog/2014/11/25/is-urban-compass-really-the-future/#sthash.gxcZ3jT8.dpuf

 

 

Developers Look to Create Underground NYC Park | Bedford Hills Real Estate

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Visitors from around the world are drawn to New York City’s High Line, an elevated park built on defunct railroad tracks transformed into an urban sanctuary of flowers, grasses and trees.

Private planners inspired by the High Line’s success are now looking deep under Manhattan at a proposal to create the Lowline, billed as the world’s first underground park. JWA is a full-service commercial real estate development firm that takes the time to understand every aspect of your project to provide experienced financial analysis, site selection, entitlement services, and more.

The project would occupy a 116-year-old abandoned trolley terminal below the Lower East Side that’s been used for storage since 1948.

Street-level solar collectors would be used to filter the sun about 20 feet down to bedrock, turning the dank, subterranean space into a luminous, plant-filled oasis. The park would offer city residents a place of refuge and host art exhibits, music performances, readings and children’s activities.

The Lowline is only one part of a Lower East Side revitalization project.

The neighborhood has an important place in the history of immigration. At the turn of the last century, newly arriving Italian, Irish and German families made their first homes in America in its tenements. So many Jewish families settled in the neighborhood that it has been called “the American-Jewish Plymouth Rock.”

“Many people once fought to move out of the Lower East Side, and now, their grandkids are fighting to get in,” says Mark Miller, an art gallery owner whose family ran businesses there since the late 19th century. “It’s come full circle; it’s hip, happening and historic.”

The planners ? New York residents who’ve worked or lived in the area ? say they’re not erasing the legacy of Orchard, Delancey and Rivington streets, once home to the likes of Irving Berlin, George Burns, Jimmy Cagney, Zero Mostel and Lucky Luciano.

read more…

http://abcnews.go.com/health/wirestory/developers-create-underground-nyc-park-27187198

Tiny add-on homes for in-laws or millennials | Pound Ridge Real Estate

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The hottest trend in real estate these days is carving out some space for your in-laws, the Wall Street Journal says.

And it has the potential to lift your home value as much as 60 percent.

Known informally as “in-law suites” or “granny flats” and formally as “accessory dwelling units” (ADUs), these little homes, usually somewhere between 300 and 800 square feet, are going up in backyards across the country. The multigenerational living trend has been picking up steam through the Great Recession, both as millennials return to their parents’ homes and as boomers (and their parents) age.

To skirt zoning rules, in-law units often lack stoves. Click photo for a slideshow.

To skirt zoning rules, in-law units often lack stoves. Click photo for a slideshow.

The main obstacle is zoning. Cities generally restrict the number of residences that can exist on a property. But often there are ways around that, if the structure is short enough, and/or if it’s small enough in proportion to the property. In such cases, it’s viewed not as a residence but as more of an outbuilding, skirting neighborhood restrictions.

Strangely — and perhaps highlighting the dated way many of these zoning laws regulate residences — the stove is frequently the dividing line over whether or not a structure is considered a home or not. So some developers add in small kitchenettes, but not stoves, simply because of zoning.

Kevin Casey, the CEO of New Avenue Homes, has been helping homeowners build these backyard cottages for about five years using his project planning software. “It’s not a cultural shift; it’s a reversion to the norm,” he says. “If you go to Europe or Asia, this is what it’s like. This is the way families have been living for centuries.”

Despite the benefits, there are many design and regulatory issues to contend with, says Seattle-based architect Ross Chapin, who designs what he calls “right-sized homes” as well as these cottages.

 

read more….

https://homes.yahoo.com/blogs/spaces/in-law-cottages-124550246.html

 

Always dreamed of having your own mountaintop chalet? | Chappaqua Real Estate

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If you’ve ever wanted a ski home, now is your opportunity: superstar Tom Cruise just listed his getaway estate in mountain hot spot Telluride, CO. All you need is $59 million, and the 10,000-square-foot-home on 298 acres is yours.

If that’s a bit out of your price range, it doesn’t mean you can’t attain your goal of having your own mountain getaway. A ski home can be yours in five easy steps.

1. Understand the total cost of owning a ski home

First, determine what you can afford. To do so, have your lender look at the following:

  • Cash available for down payment, closing costs and reserves.
  • Total monthly cost on your existing home, plus the total monthly cost on the ski home (including principal, interest, taxes and insurance for both homes).
  • Total cost to manage the ski home, including homeowners’ association (HOA) dues.

You also need to consider budget items that lenders don’t use in their qualifying calculations, but that are still important for your own financial planning:

  • Gas, electric, cable TV and internet, if these items aren’t covered by the HOA dues.
  • Housewares such as dishes, cookware and linens.
  • Travel costs to reach your ski home for your desired number of visits each year.
  • Ski passes and outdoor gear (for winter and summer): skis, boots, poles, snowboards, mountain bikes, kayaks and more.
  • Property maintenance like snow removal, cleaning and general upkeep, if these items aren’t covered by the HOA dues.

2. Decide between second home or investment property

Before estimating your costs for the purchase transaction, you first need to consider how you intend to own the property and how much you intend to use it. There are two options:

  • Second home. In this scenario, you’d own your ski home with the intent of using it only for your family and friends. Mortgage rates for second homes are the same as they are for primary residences, so your rate will be the lowest it can be. Most lenders require as little as 20 percent down for a second home. Your full primary residence housing cost plus your full second home cost will be used to qualify your loan. The fine print of most lender terms on second homes prohibit renting the home.
  • Investment property. You’ll use this scenario if you intend to rent the home in addition to using it as a family property. Mortgage rates are .25 percent to .375 percent higher than second home rates, and minimum down payment requirements are 30 to 35 percent. You can use rental income to help qualify for the mortgage, and the extra income from renting the property when you’re not using it might also make owning a ski home more financially feasible.

3. Review monthly and transactional cost line items

Supposed you wanted to purchase a property in Telluride, CO selling for $525,000. Here’s how much it would cost to buy it as a second home versus an investment property.

  • Second home. If you put 30 percent down, your estimated total monthly cost would be $3,586, and your estimated total cash to close would be $177,750. The monthly cost estimates include $1,781 for a 30-year fixed mortgage at 4.125 percent, $1,625 HOA dues, $30 insurance and $150 property tax. The cash to close estimates include $157,500 for 30-percent down payment, $15,750 for 3-percent Telluride transfer tax, $2,500 lender fees and $2,000 title/escrow/inspection fees.
  • Investment property. If you put 30 percent down, your estimated monthly cost would be $3,667 (before any rental income you’d receive), and your estimated cash to close would also be $177,750. The monthly cost estimates are $1,862 for a 30-year fixed mortgage at 4.5 percent, and the same as above for HOA dues, insurance and property taxes. The cash to close breakdowns for a 30-percent down payment are the same as above.

read more….

 

 

http://www.zillow.com/blog/buy-a-ski-home-in-5-easy-steps-165022/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+ZillowBlog+%28Zillow+Blog%29

College Towns Get an A for Appreciation | Bedford Hills Real Estate

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Colleges and universities are having an effect on housing across the country. Metros with noteworthy university influence are at the top of their class, with home price trends far outperforming national rates of growth since 2004, according to data provider Clear Capital.

A sample of ten metros, each having a university presence, shows an average growth of 32 percent since 2004.

Sustained gains at the MSA-level are a direct benefit of metros with heavy college influences. The Ithaca MSA, home to Cornell University and Ithaca College, has seen home prices rise 51 percent since 2004, putting the metro at the head of the class nationally. And it’s not just metros in the Eastern Region seeing college pay off. In Boulder, home to the University of Colorado, home prices are up 26 percent since 2004. These markets each maintain a foundation of sustained demand from students hungry for an education and in need of a roof over their heads.

Even larger MSAs with a heavy academic focus, like Boston, are seeing strong micro market growth. Cambridge housing demand from students attending Harvard University has helped fuel price growth of 39 percent over the last decade. The University’s ZIP code 02183 has outperformed the Boston MSA by 36 percent since 2004, highlighting the noteworthy influence of academia on local home prices. There’s no question that the many universities within this area, including MIT, contribute to the unique demand in the Cambridge, MA ZIP code and surrounding areas.

Metros majoring in university life are at the head of their class, but student debt could create a drag on the overall housing recovery. Now a full year into a cooling recovery, stronger demand from first-time homebuyers is a prerequisite to a sustainable recovery as investor demand dwindles. College graduates who feel confident enough in their employment prospects and the housing market to attempt to qualify for a mortgage will have to grapple with an average of more than $30,000 in existing student debt. With student debt now in excess of $1 trillion and growing, the housing market faces demand headwinds at a crucial transitional point in the recovery.

“College towns are just another example of how real estate trends are impacted by local market conditions” said Dr. Alex Villacorta, vice president of research and analytics at Clear Capital. “It’s clear a significant portion of loan dollars are going towards student housing costs, thereby creating a critical demand surge. Healthy student populations activate a positive feedback loop where housing fuels local economies and jobs which increase the overall confidence and demand in these towns. Concerns over rising student debt and recent college graduates’ ability and desire to qualify for a home loan could certainly create a drag on the recovery overall as the next phase depends on re-engagement by traditional homebuyers. Generally, investment opportunity in college markets yield benefits that ripple beyond localized home price strength since higher education typically begets higher income which has allowed more folks to invest in the American Dream. While this is still true today, the struggle between rising student debt and a first-time homebuyer’s desire and ability to qualify for a mortgage will pose an interesting challenge for the future of the recovery.

 

read more….

 

http://www.realestateeconomywatch.com/2014/11/college-towns-get-an-a-for-appreciation/

 

 

Purchase Mortgage Approvals Break Record! | Bedford Corners Real Estate

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The approval rate for purchase mortgages hit new heights in October as more than two thirds (66.1 percent) of all applications for loans to buy a home were approved.

The approval rate for October was the highest recorded by the four-year old  Ellie Mae Originations Insight report; the previous high was 65.1 percent in August.  Last year the average approval rate for purchase loans was only 60 percent.

The high approval rate suggests borrowers and lenders are finding ways to overcome tight lending standards that are more difficult for lenders to circumvent following implementation of the QM Rule in January.  Tight credit has crippled access to financing for buyers, especially first time buyers, and slowed home sales this year

The October approval rate for conventional loans also hit a new peak at 67.9 percent; its previous top rate was 67.2 percent in January of this year.  The approval rate for all loan types in October was 59.4 percent.  Only 59.4 percent of refis were given the green light.

The average time to close for purchase loans in 0ctober was 40 days.  Purchase loans accounted for 60 percent of all loans closed in

The October 2014 report also found that the average 30-year interest rate for all loans fell for the sixth consecutive month to 4.371 percent purchase loans, reported in Ellie Mae’s October report.

 

read more….

 

http://www.realestateeconomywatch.com/2014/11/purchase-mortgage-approvals-break-record/

 

Kitchen DIY Projects to Tackle This Weekend | Mt Kisco Real Estate

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The kitchen is the most popular room to remodel, but sadly, it is not the cheapest. One way to offset those costs is by completing the work yourself. Despite its high traffic, there are plenty of kitchen remodeling projects homeowners can accomplish without the help of a professional. If you want to shed some costs and transform your kitchen, read on to learn more about seven easy DIY projects perfect for any kitchen remodel.

The Benefits of Kitchen Remodels

Before you begin your kitchen remodel, you have to know why you are remodeling. Homeowners redo their kitchens for a variety of reasons; some just want a new look, some are planning to move, some can’t deal with their tile floors, and others just want more functionality. However, when we talked to homeowners across the country, three dominant reasons became evident.

Homeowners remodel their kitchens to:

  • Increase the value of their home
  • Add different designs
  • Install more storage or make it more convenient

1. DIY Kitchen Countertops

Kitchens almost always start and end with the countertops. Homeowners tend to shy away from working with expensive features—like their countertops—but as you will see, installing your own kitchen countertops is a job anyone can handle.

After you decide on your material, know the dimensions and have your counters cut (by the manufacturer), all homeowners can follow the steps below.

  1. Double-check that the counter size and cuts are perfect
  2. Add the sink before you install the counters (sink hole should be cut)
  3. Place countertop on workstation with plenty of space
  4. Drill a hole for the faucet and the brackets
  5. Add silicone around sink hole (ask countertop manufacturer what silicone or adhesive they recommend)
  6. Add the sink to the countertop
  7. Place countertop in desired location
  8. Seal all spaces with colored adhesive (match the countertop)
  9. Connect water lines

Thailand 2008 - House 1

2. How to Install a Sink

There are those homeowners who grow tired of looking at the same kitchen sinks for years and years. Much like the kitchen counters, all it takes is careful precision and a steady hand.

If you are installing a new sink, you will need to cut a hole in the countertop, just as we did above. The sink manufacturer should provide a cutting template. Just like the counters, install the faucet and waste line to the sink before the sink is secured in the hole—much easier.

Use the following steps to install the sink:

  1. Turn your sink over on your countertop in the desired location
  2. Trace around the sink
  3. Drill four holes at the corners of the sink placement
  4. Use a jigsaw to cut from corner to corner
  5. Check that the sink fits inside the hole
  6. Seal the cut edges of the countertop with a preservative primer
  7. Put the faucet in the sink and install the hoses as well
  8. Install the waste line as the instructions show
  9. Add a layer of adhesive on the counter where the sink will sit
  10. Some homeowners add retaining clips around the edges of the sink at this time
  11. Once you put the sink into place, tighten the clips if needed
  12. Connect the faucets and waste lines

For a more detailed description, please see our friends over at the DIY Network.

3. DIY Kitchen Cabinets

Much like the counters, homeowners tend to shy away from installing their own kitchen cabinets. Fortunately, installing kitchen cabinets is just as easy as hanging a TV or large painting. As long as you have a plan and know where the studs are, you can install your kitchen cabinets without a professional.

  1. Measure and find studs in the wall (mark them)
  2. Hang a support board (so you don’t have to hold the cabinet as you install)
  3. Remove cabinet doors
  4. Attach adjacent cabinets together
  5. Attach kitchen cabinets to the wall with the drill
  6. Install base kitchen cabinets using the same steps

4. Paint Kitchen Appliances

One of the cheapest and quickest ways to transform your kitchen is by giving it a fresh coat of paint. While the average price to paint an interior room is $1,655, you can drastically reduce the overall cost by completing the job yourself.

If you choose to go bold, we highly recommend consulting a professional first. Interior design pros know what colors work in what rooms. If you’re looking for a smaller job, painting kitchen appliances could have the same design effect and yet, take half the time. Most major appliance manufacturers offer paint, panel kits, and other fix-ups on their websites. With these kits, you could redo your refrigerator, oven, or dishwasher.

Whether you want a fresh look for your home or are planning to sell it in the near future, a coat of paint inside the home will make the space look newer, brighter, and even a little more spacious.

7 Easy Kitchen DIY Projects-6

5. DIY Tile Backsplash

The backsplash has become the new necessity in kitchen remodels across the country. Backsplashes can give dull or small kitchens that “wow” factor we all seek. They come in a wide array of designs, matching your traditional, rustic, or modern kitchen. As long as you’re not afraid to get your hands dirty, you can install the backsplash yourself.

Follow the steps below to install your own tiled kitchen backsplash:

  1. Measure the distance between your top cabinet and your countertop
  2. Grab your tiled backsplash and cut it to match the distance you just measured
  3. Remove the outlet covers on the wall
  4. Clean the walls to remove all oils, grease, and marks
  5. Place your tile on the wall in the desired location
  6. Carefully add the bottom row of the backsplash, starting with the left-hand side
  7. Make sure it is straight and even before moving forward or applying pressure
  8. To add the grout, cut the edge of the grout bag and evenly distribute it with an evening tool or a floater
  9. Apply grout to the backsplash in a diagonal pattern
  10. Then, push the grout into the joints going the opposite direction
  11. Make sure there is grout in all joints
  12. Use a damp sponge and clean all the grout and joints

6. Clean Grout on Tile Floor

Speaking of tile and grout, a terrific way to update your kitchen with little to no cost at all is by cleaning the grout on your tile floor.The visible grout lines made from water, sand, and cement absorb grease and dirt faster than tiles. As a result, it may discolor quickly, resulting in an ugly design for your kitchen floor.

The savvier DIYer would create his or her own grout cleaner from any combination of baking soda, vinegar, hydrogen peroxide or (oxygen) bleach. As an extra precaution, only use bleach if you have light-colored grout. However, the safer bet would be to buy a special pH-balanced product from a flooring company to protect against discoloration.

Depending on the chosen cleaner, it’s always best to let it sit within the grout for a few minutes before scrubbing it in. If you’re using a combination of hydrogen peroxide and baking soda, let the peroxide settle before hitting the scrubber.

After pouring a healthy amount of cleaner and letting it sit, gently add your baking soda (if you’re using it). Then, use your toothbrush or specialty brush and rub away the dirt. Don’t be afraid to use some muscle. Most homeowners ignore their grout for months, if not years, so a good amount of grease and dirt could be hiding.

7. DIY Fixes for the Refrigerator

Food is the main reason we enter and leave the kitchen, but if your fridge is on the fritz, the kitchen loses all purpose. Luckily, homeowners can fix some of the most common refrigerator issues.

The most common problem fridges face is leakage. A range of issues could cause a refrigerator to leak, but the most common culprit is a loose gasket. A refrigerator gasket is the flexible elastic strip attached to the outer edge of a refrigerator or freezer.

Read more: http://www.improvenet.com/a/7-easy-kitchen-diy-projects#ixzz3JiQSpfGp

Bedford Happenings | Bedford Real Estate

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Town of Bedford Recreation News
Upcoming December Events & Programs

BREAKFAST WITH FROSTY 
Saturday December 13
8:30 – Breakfast and visit with Frosty 
9:00 – Entertainment – Mario the Magician

For Ages 1 – 8 with Adult 
$6.00 per person preregistered 
$10.00 at the door if space is available 
 
Click here for the registration form

 THUNDER RIDGE SKI/SNOWBOARD PROGRAM
Got snow? Have you always wanted to learn how to ski or snowboard? Here’s your chance to get off the bunny slopes and traverse down those hills! Bedford Recreation in cooperation with Thunder Ridge Ski area is offering ski lessons (gr. 1 and up) and snowboard lessons (gr. 3 and up)
Click here for more information and registration form.

GLOW IN THE DARK YOGA PARTY 
Calling all 7 – 11 year olds! Join the party & fun at this amazing glowing event! Create colorful art, move to music, do some yoga, all while glowing in the dark!

Friday,  December 5

6:00- 8:00 pm
Bedford Hills Community House 
$50.00 per participant 
Please wear white or neon colors for the best glow experience!
Pre-registration is required
Click here for registration form

BUILD A GINGERBREAD HOUSE 
Construct your own Gingerbread House and decorate it too!
This is a fun creative program for grades 2 – 6
 
Sat. December 13
12:30 – 2:30
Bedford Hills Community House
$25.00 (includes lunch)
 Click here for registration form

DEFENSIVE DRIVING 
Learn to drive defensively; earn an insurance reduction; take points off your license. This program is offered in cooperation with the Bedford Police Dept. For ages 16+

Saturday,  December 6

9:00am- 3:30 pm
Bedford Hills Community House
$19.00 to “Town of Bedford”
$11.00 to “National Safety Council
Pre-registration required and a bag lunch recommended.
Click here for registration form

SENIOR HOLIDAY LUNCHEON 

 

WEDNESDAY – DECEMBER 10

   11:00 am – 2:00pm

$5.00 per person

Reservations are required & currently being accepted.

Call 666-7203 today!

For more information on senior adult programs call 666-7203

   

 

IT”S HERE
The 2015 Winter Brochure is now available on-line!
Click here to view the Winter Brochure

ICE SKATING 
@ HARVEY SCHOOL 
Bring your skates and take a few laps around the rink!
Friday November 28 
and 
Friday December 26 
12:45 – 2:45 PM
$5.00 per person 

OUTDOOR ICE SKATING 
Ice skating will be available at the Bedford Hills Memorial Park, Lake Marie and Cherry Ridge Lake on Lakeside Drive in Katonah. Weather and conditions permitting. Appropriate signage will be posted at each site indicating whether the lakes are safe for skating.
 

Basketball Basics 
Great introductory basketball program for boys & girls in grades 2-4
Program starts Saturday, December 6 and is held at Katonah Elementary School
2nd grade: 9:00am
3rd grade: 10:00am
4th grade: 11:00am
Click here for registration form or stop by our office to register today!

SANTA’A MAILBOX 
“SANTA’S REINDEER EXPRESS”

will be arriving at the Recreation Department after Thanksgiving to accept letters to Santa.
Please make sure all letters include child’s name, age and return address.
For grades K- 3
Letters must be in to the office by Dec. 12.
Contact Us
Town of Bedford
Recreation and Parks Department
914-666-7004 (office)
914-864-3777 (hotline)
We respect your right to privacy. The Town of Bedford will not contact any person who submits an email address for any purpose other than the original intended communication. E-mail addresses will not be disclosed to a third party, unless required by law.

Mortgage Rates Average 3.99% | Waccabuc Real Estate

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

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 3.99 percent with an average 0.5 point for the week ending November 20, 2014, down from last week when it averaged 4.01 percent. A year ago at this time, the 30-year FRM averaged 4.22 percent.
  • 15-year FRM this week averaged 3.17 percent with an average 0.5 point, down from last week when it averaged 3.20 percent. A year ago at this time, the 15-year FRM averaged 3.27 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.01 percent this week with an average 0.5 point, down from last week when it averaged 3.02 percent. A year ago, the 5-year ARM averaged 2.95 percent.
  • 1-year Treasury-indexed ARM averaged 2.44 percent this week with an average 0.4 point, up from last week when it averaged 2.43 percent. At this time last year, the 1-year ARM averaged 2.61 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.

“Fixed mortgage rates were slightly down as housing starts declined 2.8 percent in October below the upwardly revised September rate. However, building permits increased 4.8 percent in October after a 2.8 percent boost a month earlier. Lastly, industrial production slipped by 0.1 percent in October, below the market consensus forecast.”