Tag Archives: Bedford Hills NY Homes for Sale

Bedford Hills NY Homes for Sale

What The Home-Price Slowdown Really Looks Like | Bedford Hills Real Estate

 

The current slowdown of home prices has been sharpest in markets that crashed during the bust and bounced back last year. And although asking-price gains have been slowing since last spring, price increases remain high by historical standards.

The Trulia Price Monitor and the Trulia Rent Monitor are the earliest leading indicators of how asking prices and rents are trending nationally and locally. They adjust for the changing mix of listed homes and therefore show what’s really happening to asking prices and rents. Because asking prices lead sales prices by approximately two or more months, the Monitors reveal trends before other price indexes do. With that, here’s the scoop on where prices and rents are headed.

Asking-Price Gains Have Been Slowing Down Since April 2013 Nationally, asking home prices rose 10.4% year-over-year in February 2014, down slightly after peaking in November 2013. But the year-over-year change is an average of the past twelve months and therefore obscures the most recent trends in prices. Looking at quarter-over-quarter changes instead, it’s clear that price gains have been slowing for most of the last year: asking home prices rose just 1.9% in February – a rate similar to those recorded in January and December – compared with increases near 2.5% from July 2013 to November 2013 and over 3% from April 2013 to June 2013. The quarter-over-quarter change in asking prices topped out at 3.5% in April 2013 and now, at 1.9%, the increase is just over half of that peak.

But even with this slowdown in gains, prices are still rising much faster than the historical norm. The quarter-over-quarter increase in February of 1.9% implies an annualized rate of almost 8% – which is well above the long-term average.

 

http://www.huffingtonpost.com/jed-kolko/what-the-home-price-slowd_b_4915392.html?ncid=txtlnkusaolp00000592

Housing construction permits soared 71% | Bedford Hills Real Estate

 

The number of residential unit construction permits issued by the city last year exceeded the previous year’s total by a whopping 71%. As good as that sounds, a New York Building Congress report released Monday noted the jump still puts permits at half the number set during the boom years that between 2005 and 2008.

The city Department of Buildings issued permits for 18,095 residential units in 1,383 buildings in 2013, a huge step up from the 10,599 units in 1,011 buildings seen the year before. And while high-profile luxury developments in Manhattan are making the headlines, the report noted that the increase came in all five boroughs—for the first time since 2008.

“This is encouraging,” Building Congress President Richard Anderson said. “Things continue to look very positive for the overall construction market in the city.”

Red-hot Brooklyn boasted the greatest number of permits, swamping Manhattan’s total by over 1,000 units. Meanwhile, in percentage terms Queens saw the biggest gain. Bolstered by two developments in the mammoth Hunter’s Point South project in Long Island City, permits soared 107% in the borough last year.

Citywide, 2013’s figure is still shy of the 20,000 units the congress estimates developers need to build annually simply to keep up with the growth of the number of households, to replace outdated buildings and to provide housing options for New Yorkers across the income spectrum. However, on average that needed level of construction was met over the last decade, the report noted, courtesy largely of the boom years between 2005 and 2008, when DOB issued an average of 30,000 permits annually.

And while last year’s hefty surge in residential permits bodes well for construction companies, for New York apartment dwellers, the news may not be quite as promising, as the increasing amount of foreign capital flowing into Manhattan’s skyline means that many of the newly built units will likely be snapped up by overseas buyers and renters, rather than lower income families dealing with record-low inventory

 

http://www.crainsnewyork.com/article/20140303/REAL_ESTATE/140309989/housing-construction-permits-soared-71#

Director Oliver Stone lists West Village home for $2.9M | Bedford Hills Homes

 

Apartment at 1 Morton Square

Apartment at 1 Morton Square

Oscar-winning filmmaker Oliver Stone has put his West Village pad on the market for $2.9 million.

Paul Anand of the Corcoran Group has the listing for the two-bedroom condominium at 1 Morton Square, according to the Wall Street Journal. Stone bought the 1,750-square-foot space in 2010 for $2.2 million to live in while directing “Wall Street: Money Never Sleeps.”

The 14-story mixed-use doorman building, built by J.D. Carlisle Development in 2004, gives residents access to a children’s playroom, a gym and a garage, according to property records.

Stone is reportedly looking to move into a space bigger than 2,000 square feet. Given the neighborhood’s low inventory, Anand expects to receive offers by early next week, the Journal reported.

 

http://therealdeal.com/blog/2014/02/28/oliver-stone-lists-west-village-home-for-2-9m/

5 Cities Most Likely to Serve Up a Soul Mate | Bedford Hills Real Estate

 

If true love hasn’t found you this Valentines Day, here’s a look at five cities you can move to if you want to boost your odds of meeting the perfect mate.

“We feel that these are the places you should go to if you want to find love,” says economist Krishna Rao of real-estate site Zillow.com, which this week released its Valentines Day Index of America’s most singles-friendly locales.

The firm analyzed America’s 50 largest metro areas for three criteria key to finding your soul mate:

  • what percent of the local population is single;
  • how many restaurants and other date-friendly sites a place has per capita;
  • how much disposable income the typical single has — an important consideration if you expect your date to at least sometimes pick up the check.

Rao says singles-friendly cities are actually harder than you’d think to find, as unmarried people make up just 50.8% of America’s total 15-and-older population.

Zillow also estimates that the typical single has just $1,301 a month of gross income left after paying rent — not always enough to pay for dates considering that also has to cover taxes, car payments and other expenses.

Lastly, Rao says the average U.S. community has just 15.9 restaurants, bars, museums and other date-suitable establishments for every 10,000 residents, meaning there aren’t always lots of interesting places to go.

The State of the Real Estate Market | Bedford Hills NY Real Estate

 

According to Movoto Real Estate‘s State of the Market report, the market followed seasonal trends on a month-over-month basis, as the number of available homes on the market and the median list price per square foot index dipped when compared to November. At the same time, our data shows that year-over-year changes in the median list price per square foot and inventory level indexes are similar to previous years’ numbers.

How This Report Is Made

In building Movoto Real Estate’s monthly State of the Real Estate Market report, we look at 38 geographically diverse cities in order to determine total inventory levels and median price per square foot index. In addition, we further break down this data on a month-over-month and year-over-year basis. The data used comes from each city’s Multiple Listing Service.

Median List Price Per Square Foot Index

YEAR-OVER-YEAR

During the 12-month period between December 2012 and December 2013, there were 33 cities in which the median list price per square foot increased. Of the cities that had increases, 17 witnessed double-digit gains.

In total, across the cities we track, the median list price per square foot index increased from $159 in December 2012 to $176 in December 2013, a gain of 10.4 percent.

The cities that saw the largest gains by percentage were:

  • Boston: The value for a home in Boston increased by about 27 percent in the past year, going from $361 in December 2012 to $458 in December 2013.
  • Sacramento: The median list price per square foot for a home inSacramento increased by about 21 percent in the past 12 months. The price rose from $123 in December 2012 to $149 in December 2013.
  • Phoenix: Phoenix home prices increased by about 20 percent in the past year. The median list price per square foot increased from $101 to $121 from December 2012 to December 2013.

 

http://www.fool.com/investing/general/2014/02/03/the-state-of-the-real-estate-market.aspx

Classic Scarsdale Colonial With a Recent Redo Asks $16.5M | Bedford Hills NY Homes

 

30 images

Location: Scarsdale, N.Y. Price: $16,500,000 The Skinny: Colonial Revival architecture may have long ago been demoted to being the go-to style for designers of Midwestern housing developments and exurban strip malls, but this elegant Scarsdale manse harks back to an era when Doric columns and sheltering porticoes were, briefly, the height of fashion. Built in 1914 and owned by one family since 1953, the home recently benefited from a much-needed redo during the Designer Showhouse of Westchester charity event, which thoroughly de-frumped the place (see these before and after shots for all the gory details) and showed that yes, a Colonial home can be adapted to modern tastes. Décor aside, the mansion ticks all the proper Neo-Classical boxes: Palladian-style windows, a porte-cochère at the main entrance, and a grand dining hall are all present and accounted for, not to mention a conservatory and 10-foot-high ceilings. Besides the 12-bedroom, 11-bathroom main house, the 3.75-acre estate also includes a pool and an unusual combination five-car garage/two-bedroom guest cottage/greenhouse, for which the owners are asking $16.5M.

 

 

http://curbed.com/archives/2014/02/03/classic-scarsdale-colonial-with-a-recent-redo-askss-165m.php

Pending home sales mirror pre-crash levels | Bedford Hills Homes

 

Pending home sales fell steadily from May to December last year, closely mirroring the trajectory of the same economic indicator months before the 2007 home price crash, analysts Chris Flanagan and Justin Borst with Bank of America-Merrill Lynch claim in a new report.
But don’t get sour on housing just yet, or assume we are in store for another home price crash.
While pending home sales fell sharply in December ??— and experienced steady declines last year — other factors, not existent in 2007, are likely to save housing from a free-fall in prices, the two researchers say.
But before analyzing the year 2014, we have to look back to 2007 when a quiet housing storm was silently brewing in America.
Fortunately, unlike 2007, current housing prices are closer to fair market values and inventory levels remain constrained. Buffered by these two factors, a wide swing in prices is unlikely, the researchers said. On the other hand, the perfect storm of 2007 had additional headwinds in the form of excess inventory and steep price drops from peak levels.
Yes, it’s true year-over-year growth has likely reached its peak and growth will be slower in the future, but Borst and Flanagan are still calling for 5% home price growth in 2014.

In fact, prices are unlikely to move dramatically, they say, since mortgage credit is still wound tight and builders are not creating excess housing supply.

 

 

http://www.housingwire.com/articles/28813-pending-home-sales-data-mirrors-pre-crash-levels

 

 

 

Home prices increase 13.7 percent from 2012 | Bedford Hills NY Real Estate

 

Home prices extended a winning streak in November, with 2013 shaping up as the best year for gains since 2005, according to the S&P/Case-Shiller indexes.

The composite 20-city home price index, a key gauge of U.S. home prices, was up 13.7 percent in November from a year earlier. All 20 cities have posted year-over-year gains for 11 straight months.

Prices in the 20-city index were 0.1 percent lower than the prior month, but that’s mostly due to the weaker winter selling season. Adjusted for seasonal variations, prices were 0.9 percent higher month-over-month. Nine of the 20 cities posted a monthly declines, though on a seasonally adjusted basis priced no city saw a drop.

Though home-price gains have been strong, the Case-Shiller data are lagged. Many expect increases to moderate this year.

“The rapid gains in house prices over the past year are the result of low inventories of homes for sale and strengthening home buying activity. But a slowdown in the pace of house price appreciation is in store for 2014,” said Paul Diggle at Capital Economics. “We are anticipating a meaningful increase in the supply of homes for sale. The survey evidence suggests that rising prices are motivating more owners to list their homes. And judging by the recovery in housing starts, the inventory of new homes for sale is also set to rise strongly.

 

 

http://realestate.msn.com/blogs/post–home-prices-increase-137-percent-from-2012

Q4 California Foreclosures Hit Lowest Mark in Eight Years | Bedford Hills Real Estate

 

The number of California homeowners pulled into the formal foreclosure process dropped to an eight-year low last quarter, the result of an improving economy, foreclosure prevention efforts and higher home prices, according to DataQuick. A total of 18,120 Notices of Default (NoDs) were recorded by lenders and their servicers on California owners of houses and condos during the October-through-December period. That was down 10.8 percent from 20,314 for the prior quarter, and down 52.6 percent from 38,212 in fourth-quarter 2012. Last quarter’s tally was the lowest since 15,337 NoDs were recorded during fourth-quarter 2005. NoDs peaked in first-quarter 2009 at 135,431. DataQuick’s NoD statistics go back to 1992.

“Some of this decline in foreclosure starts stems from the use of various foreclosure prevention efforts – short sales, loan modifications and the ability of some underwater homeowners to refinance. But most of the drop is because of the improving economy and the increase in home values. Fewer people are behind on their mortgage payments. And of those who do get into trouble, many, if not most, can sell and pay off what they owe. Also, those who are underwater and close to slipping into foreclosure are far less likely to give up their homes now that appreciation has returned to the housing market. There’s a strong incentive to hang on,” said John Walsh, DataQuick president.

 

http://nationalmortgageprofessional.com/news46411/Q4-California-Foreclosures-Hit-Lowest-Mark-Eight-Years

Situation on housing market in 2014 will depend on the state | Bedford Hills NY Homes

The real estate market of Ukraine in 2014 will be largely influenced by the state, according to experts polled by Interfax-Ukraine.

“One of the threats to the property market is the draft law initiated by Omelchenko [bill No. 3757-1 of Regions Party MP Valeriy Omelchenko], which foresees the introduction of a 15-17% tax on the sale and purchase of real estate: if it is adopted – it worth expecting the total collapse of the market,” the vice president of the Association of Professional Property Managers, Anatoliy Topal, said.

Another threatening factor for the primary housing market, according to him, is a high increase in the price of construction materials.

According to the head of the Union of Realtors of Ukraine, Oleksiy Rubanov, the main risk to the real estate market development is a lack of liquidity of households.

“As for prices, activity, the situation in 2014 will slightly differ from 2013. Depressive mood will be observed on the market in 2014 and in 2015,” he said.

In addition, the experts noted a peculiar record set by the real estate market in the past year: the number of transactions on the primary market during this period exceeded the number of deals on the secondary housing market.

“People, who are able to buy, prefer to buy housing on the primary market due to the fact that developers offer loyalty programs, installment payments, favorable loans, interesting price offers,” said Rubanov.

 

 

http://en.interfax.com.ua/news/economic/185509.html