Tag Archives: Bedford Hills Homes for Sale

Bedford Hills Homes for Sale

Tale of two recoveries’ emerges in Sandy’s wake | Bedford Hills Real Estate

An analysis by StreetEasy of sales and price changes in New York City neighborhoods following Hurricane Sandy tells a “tale of two recoveries.”

Contract volume in flood zones in Manhattan quickly rebounded after Sandy initially dented them, while prices and rents remained stable, StreetEasy reported.

But some housing markets in flood zones of other boroughs were not nearly as resilient as those in Manhattan, and they are continuing to feel the effects of the super storm, according to StreetEasy.

 

 

Source: StreetEasy – See more at: http://www.inman.com/wire/tale-of-two-recoveries-emerges-in-sandys-wake/#sthash.8BpR8rMs.dpuf

Home prices lose momentum in August, but post strongest annual gains in 7 years | Bedford NY Real Estate

Home prices posted their biggest annual gains in seven years in August, but the pace of month-over-month gains slowed in most markets tracked by the S&P/Case-Shiller 20-City Composite index.

The S&P/Case Shiller 20-City Composite showed home prices rising by 12.8 percent from a year ago, and by 1.3 percent from July to August. All 20 cities reported annual gains, with 13 showing double-digit price appreciation. The 20-city composite posted the strongest year-over-year growth since February, 2006.

If no adjustment is made for seasonal factors, month-over-month gains for the 20-city composite peaked in April.“Since then home prices continued to rise, but at a slower pace each month,” said David M. Blitzer, Chairman of the Index Committee at S&P Dow Jones Indices.

“This month 16 cities reported smaller gains in August compared to July.”Blitzer cited recent increases in mortgage rates and fewer mortgage applications as two factors in these shifts. When adjusted for seasonal factors, the 20-city composite index showed stronger month-over-month growth in August (0.9 percent) than in July (0.6 percent).

– See more at: http://www.inman.com/wire/home-price-gains-slow-for-4th-straight-month/#sthash.c2ZG0O5M.dpuf

Why Email Is Still More Effective Than Social Media Marketing | Bedford Hills Realtor

All the marketing talk these days is about social media. But research shows old-fashioned email is still far more effective than social media in attracting customers to your business online.

A recent study by predictive analytics firm Custora discovered that customer acquisition via email has quadrupled in the last four years and now accounts for almost 7 percent of customer acquisitions. Organic search is the most powerful acquisition channel, accounting for 16 percent of customers acquired, while Facebook and Twitter lag far behind.

Facebook was almost insignificant as a customer channel. A minuscule percentage of customers connect and purchase via Facebook. Twitter is an even weaker way to draw customers.

What’s more, customers who come to businesses via email tend to shop more and spend more. The Custora study shows email customers are 11 percent more valuable than average. Organic-search customers are 50 percent more valuable than average. Facebook customers are average, and Twitter customers are 23 percent less valuable than average.

“Email will always deal with the reputation that it’s passe,” said Simms Jenkins, CEO of BrightWave Marketing and author of The New Inbox: Why Email Marketing Is the Digital Marketing Hub in a Social & Mobile World. “It’s not a sexy tool like Pinterest or Instagram or Vine. But the pendulum has really swung back in the last few years, spurred in part by the recession. People want things that generate revenue, not just bright shiny objects.”

Jenkins acknowledges that social media is a valuable tool—it’s great for customer engagement—but it’s not the best way to drive sales. “If you have just one bullet left in your gun to sell something, then email should always be that bullet,” he says.

Email is effective because it’s permission-based. The people on your email list have given you the go-ahead to send them messages. They’re bought in. And, with the prevalence of smartphones and tablets, they’re always listening. In fact, email is the number-one activity for people on their phones.

The “new inbox” that Jenkins references in the title of his book is an inbox that’s always on. People check email constantly, wherever they are, and that enables you to stay connected. But the window is narrow. When people read email on a mobile device they do it quickly. That means your emails must be powerful enough to grab attention.

At the very least, your emails should not annoy. One way to ensure they don’t is to allow your audience to decide when they receive your emails. You should set up a preference center where users can adjust their email options.

Also keep in mind that email requires a different tone than channels like Facebook and Twitter. You can’t simply duplicate your Facebook efforts in email. “On email people want offers,” Jenkins says. “On Facebook they want to be more touchy-feely with the brand. On Twitter they want breaking news and updates. The best brands understand that, instead of sending the same stuff across multiple channels.”

A primary reason why email is now a more powerful customer-acquisition channel is mobile devices: They enable better email marketing in many ways. For example, some brands put messages at the checkout counter that say, “Text us your email address and you’ll get 10 percent off your next purchase.” That way they build their email lists.

But mobile also presents challenges for email marketers. Forty percent of all emails are now viewed on smartphones, which means they must be coded to be attractive on a phone screen. Seventy percent of consumers will unsubscribe from your emails if they look bad on a mobile device.

“If you don’t optimize email, if you let it languish in favor of those cool new tools out there, your business will suffer,” Jenkins says. “I’m still surprised that in 2013 some people are just blasting out a monthly email to their subscribers. Too many people are chasing the new thing instead of investing in the thing that really works, which is email. Email is more important than ever, not less. And those who leverage email most effectively will be the big winners.”

 

 

http://www.forbes.com/sites/capitalonespark/2013/10/01/why-email-is-still-more-effective-than-social-media-marketing/

Pending Sales of Existing Homes Slump by Most in Three Years | Bedford Hills Real Estate

Fewer Americans than forecast signed contracts to buy previously owned homes in September, the fourth straight month of declines, as rising mortgage rates slowed momentum in the housing market.

The index of pending home sales slumped 5.6 percent, exceeding all estimates in a Bloomberg survey of economists and the biggest drop in more than three years, after a 1.6 percent decrease in August, the National Association of Realtors reported today in Washington. The index fell to the lowest level this year.

Mortgage rates last month reached two-year highs and some homeowners are reluctant to put properties up for sale as they wait for prices to climb, leading to tight inventories. Those forces are pushing some would-be buyers to the sidelines and slowing the pace of recovery in real estate, giving Federal Reserve policy makers reason to delay reducing stimulus when they meet this week.

“We’ll be in this weakness for a little bit, maybe even going into the fourth quarter,” said Yelena Shulyatyeva, a U.S. economist at BNP Paribas in New York, the second-best forecaster of pending home sales over the past two years, according to data compiled by Bloomberg. “This is a clear signal to the Fed as to what happens when you try to play with nascent housing recovery. The minutes indicated they were really concerned about it.”

Production Slows

Another report today showed factory production rose less than forecast in September, indicating manufacturing cooled heading into the budget battle that partially closed the federal government this month. Output at factories rose 0.1 percent after a revised 0.5 percent gain in August that was smaller than initially estimated, according to figures from the Federal Reserve. The median forecast of economists in a Bloomberg survey called for a 0.3 percent September gain.

Total industrial production, which also includes output by mines and utilities, advanced 0.6 percent as higher temperatures drove up electricity use.

Stocks were little changed after the pending sales report, erasing earlier gains. The Standard & Poor’s 500 Index rose less than 0.1 percent to 1,761.32 at 10:32 a.m. in New York. The S&P Supercomposite Homebuilding Index dropped 0.7 percent.

 

 

http://www.bloomberg.com/news/2013-10-28/pending-sales-of-existing-homes-slump-by-most-in-three-years.html

 

Inside Four Impressive Tribeca Lofts You Can Actually Visit | Bedford Hills NY Real Estate

It’s that time of year again—yup, the Inside Tribeca Loft Tour, when typically private, incredibly well-designed loft spaces open themselves up for the world to see for an all-too-brief afternoon. Its 14th annual iteration is set for Sunday, October 20 from 1 to 5 p.m.; tickets are $60 in advance online and $65 on the day of the tour. Organized by two community groups, Friends of Duane Park and Friends of Bogardus Gardens, the self-guided event raises money to support the two downtown green spaces. There are only 400 tickets, and they tend to sell out. Curbed previewed four out of the 12 impressive homes that will be on view. From a playful, comfortable combo unit for a family of seven with an oversized sleeping loft to a sleek townhouse perfect for parties to an architect’s City Hall-facing abode (pictured above), enjoy the sneak peek.

  • First up, a four-bedroom townhouse on Vestry Street. Its back facade is lively and geometric.
  • The ground floor opens onto a back deck.
  • The homeowner says she has hosted 80 people for a party here, using the deck and this ground floor open kitchen/dining space as the venue.
  • A glass staircase leads to the next level, where there’s a pool table…
  • … a sitting area…

 

 

http://ny.curbed.com/archives/2013/10/07/inside_four_impressive_tribeca_lofts_you_can_actually_visit.php

Sneak a Glimpse Inside a $500M London Mega-Mansion | Bedford Hills NY Real Estate

0x600xxx.jpgPhoto via Forbes

Seven years ago, the four brothers behind the Hinduja Group, a multi-billion dollar transnational conglomerate, laid down $95M for a London mansion designed for King George IV by architect John Nash. Sure, they were already living in a 25,000-square-foot mansion across the street, but this opportunity presented the chance to own “something grander,” according to a recent Forbes piece. After all, what’s two across-the-street mansions for guys worth $8B? After investing another $95M into restoring and renovating the building—”nearly gutting it to its bare brickwork in several places” and hiring up to 140 people, at one point—the 67,000-square-foot palace was finished two years ago, and now plays host to a rotating stable of frolicking billionaire guests. Inside: Greco-Moorish ceilings, a half-ton Murano-glass chandelier, six formal sitting rooms, 25 bedrooms, a “leisure zone,” and a “Gold Room” with a gold-leafed ceiling. Taking into account the mansion listed for almost $400M down the block, someone from the London consultancy Knight Frank appraised the home at $500M. So yes, this is “something grander,” for sure, yet the Hinduja brothers haven’t actually moved: they still live across the street.

Are Sellers Losing Control? | Bedford Hills NY Real Estate

Will the long-awaited sellers’ market be extraordinarily short-lived?  An email survey of big market agents found that the pendulum is shifting in favor of buyers.

An August survey of 522 Redfin agents found that fewer believe this to be a good time to sell than in the second quarter and more than half, 55 percent, said it is “a good time to buy,” up from 46% in the first quarter.

Inventory shortages (87%) and bidding wars (79%) remain the biggest challenges for buyers, according to the agent survey.  Some 62% of agents say that sellers have unrealistic expectations about the value of their home and 30% say that sellers are having difficulties getting their home to appraise for the contract purchase amount.

Markets are cooling down.  Some 56% of agents believe the market over the last three months has become less competitive. Only 22% believe it has become more competitive.

Price expectations are changing dramatically.  Most (68%) expect price gains in the coming months but fewer than in the in the first quarter (97%). Only five percent expect home prices to “rise a lot,” down from 44% in the first quarter.

“At the end of this summer, you could smell the rubber on the road from buyers hitting the breaks,” said Redfin San Diego agent Sara Fischer. “The cutthroat competition and frenzied demand has relaxed considerably.”

Respondents spanned 22 metropolitan markets in the U.S.: Atlanta, Austin, Baltimore, Boston, Charlotte, Chicago, Dallas, Denver, Houston, Los Angeles, Orange County, Miami, New York, Philadelphia, Phoenix, Portland, Raleigh, Sacramento, San Diego, San Francisco, Seattle, and Washington DC.

 

 

http://www.realestateeconomywatch.com/2013/10/are-sellers-losing-control/

Turning Point for Housing Market? | Bedford Hills Real Estate

As the year’s peak home buying season comes to a close, key market indicators point to a shift in the dynamics of the housing market, suggesting that future home value appreciations may likely be driven by market demand, rather than inventory shortages.

An analysis of the summer home buying season ending in August shows year-over-year changes now within the single-digits for three key indicators – inventory count, median age and median list price, signaling a leveling of the market not seen for some time.  The national market was virtually flat month-over-month compared to July for both inventory and median list price, and registered a slight increase in median age of inventory.

“Where we have seen significant volatility in many markets, including double-digit declines in inventory as well as increases in median price for both yearly and monthly views, we are now looking at a housing market that is less heated and moving closer to normalcy,” said Steve Berkowitz, CEO of Move.

Realtor.com® Key National Market Indicators for August 2013

August 2013

Year-over-Year %

Change

Month-over-Month %

Change

Number of Listings

1,977,202

-2.50%

0.93%

Median Age of   Inventory

92 days

-8.00%

8.24%

Median List Price

$199,900

6.39%

0.00%

National Highlights:

Widespread Inventory Recovery – The inventory recovery is broad and growing.  The net number of listings increased even though the summer season is ending. Close to one-third of the 146 markets are within 5 percent of last year’s inventory levels, and more than two-thirds (99) of markets registered a net increase in inventory over last month.

Prices Stabilize – Despite the increase in inventories, the national median list price did not change compared to July. Absent a significant weakening in economic conditions or significantly higher rates, prices should continue to slowly rise alongside typical cost of living increases.

Price Appreciation Becoming More Widespread – In August, 123 of the 146 Metropolitan Statistical Areas (MSAs) covered by realtor.com® registered a year-over-year increase in their median list price, with 78 markets registering an increase of 5 percent or more.  Of the 18 markets reporting a list price decline, only 11 markets had a year-over-year list price decline of one percent or more, and only three markets had a list price decline of 5 percent or more.  By contrast, the number of markets reporting year over year median prices lower than they were last year was 31 in July.

 

 

 

http://www.realestateeconomywatch.com/2013/09/6604/

Ex-Morgan Stanley CEO’s Penthouse Gets a Big Price Cut | Bedford Hills Real Estate

Former Morgan Stanley CEO John Mack has been hiding out in this 3,650-square-foot duplex penthouse in the Lenori while he waits for the renovations to be finished on his East 70th Street mansion (featuring a 12-car garage), which he purchased for $13.5 million in 2009. But now that it’s time to move out, Mack seems to be having more trouble unloading the Leonori penthouse than he thought he would. After listing it for $22.5 million in February, he’s had to chop the price twice, once down to $19.5 million and now to $16.25 million. Perhaps the decor, which one commenter described as being in the “Early Grandma” style, is turning buyers off, or maybe it’s just the fact that the apartment, which features a large terrace and solarium, was originally asking over $6,000 per square foot (it’s now down to a more reasonable $4,452/square foot). Mack also switched brokerages, from Sotheby’s to Elliman, meaning that we get some new pictures to gawk at, and, if we had to guess, we’d say that the man is running out of patience. Could further pricechops be in the penthouse’s future?