Tag Archives: Bedford Hills NY Homes

Bedford Hills NY Homes

Buyer confidence keeps pending home sales growing | Bedford Hills Real Estate

Leave a reply

Pending home sales slightly improved in November and are above year-over-year levels for the third straight month, according to the National Association of Realtors (NAR). All major regions except for the Midwest experienced a slight gain in activity in November.

The Pending Home Sales Index (PHSI), NAR’s forward-looking indicator based on contract signings, increased 0.8% to 104.8 in November from a slightly downwardly revised 104 in October and is now 4.1% above November 2013 (100.7) – the highest year-over-year gain since August 2013 (5.6%).

Lawrence Yun, NAR chief economist, said signed contracts inched forward in November and have been fairly stable but haven’t broken out even as the economy picked up steam this spring.

“The consistent economic growth and steady hiring we’ve seen the second half of this year is giving buyers enough assurance to consider purchasing a home before year’s end,” he said. “With rents now rising at a seven-year high, historically low rates and moderating price growth are likely to entice more buyers to enter the market in upcoming months.”

Yun also noted that falling gas prices will likely boost consumer confidence and allow prospective buyers the opportunity to save additional money for a down payment. NAR’s 2014 Profile of Home Buyers and Sellers (released in November) found that the median down payment ranged from 6% for first-time buyers to 13% for repeat buyers.

“There’s still misperception out there that a much higher down payment is needed, while that’s not the reality,” added Yun.

 

read more…

 

http://www.mpamag.com/real-estate/buyer-confidence-keeps-pending-home-sales-growing-20872.aspx

Seattle’s Glassy ‘Open House’ is Pretty Self-Explanatory | Bedford Hills Homes

Leave a reply

Location: Seattle, Washington
Price: $1,900,000
Seattle’s Open House probably does have an open house in its future, as it was listed yesterday for $1.9M, but the title refers to the glass walls in back that open up on both levels (the top one pushes up and out, and bottom one rolls up like a garage door). Between those large indoor-outdoor spaces, the too-spare modern staging, and what the listing calls “HUGE art walls,” the sale angle is clear: throw parties here.

A Curbed Seattle commenter who may or may not be one of the sellers says the “photos don’t do it justice,” and they do linger on the terrace/patio sections so much that it’s hard to get a sense for this 2009 work by Seattle architect Eric Cobb apart from white walls. There are some cool metal curtains on the bottom floor, a modern built-in bunk bed in the kids’ room, and a nearly all-stainless-steel kitchen.

The master bedroom is lofted above the kitchen and dining room, which is pretty interesting. You can’t really go wrong with concrete floors and exposed steel, and there’s a great deal of both.

 

read more…

 

http://curbed.com/archives/2015/01/06/eric-cobb-architects-open-house-seattle-for-sale.php

Tiny Houses Have A Not-So-Tiny Problem | Bedford Hills Real Estate

Leave a reply

 

As much as we love gorgeous small-scale architecture, not all micro-housing is created equal. Over at City Lab, Kriston Capps argues thattiny houses plopped onto huge lots in the middle of nowhere miss the entire point of micro-housing: to provide more options for affordable housing, especially in crowded, expensive cities.

He takes issue with the 650-square-foot prefabricated zeroHouse, the self-sufficient modular home seen above:

The zeroHouse is so modular and low maintenance, in fact, that all you need to own a zeroHouse is—after $350,000—a plot of land. Any kind of land.

Which is, of course, the problem with zeroHouse: Nobody needs micro-housing in places where plots of prairie, mountain, and sea (!) are available in plenty.

The Delta Shelter by Olson Kundig in Mazama, Washington.Image: Courtesy Olson Sunderberg Kundig Allen Architects/Taschen

If you’re determined to live on a sprawling piece of rural land, it’s probably more environmentally friendly to do so in a prefab house that’s designed to function off the grid. “Basically, a tiny house is sort of the suburban or maybe even rural version of a small apartment,” asRyan Mitchell, author of the book Tiny House Living, told Salon.

But trendy tiny dwellings more often come in this form than the variety people more desperately need: the kind that makes urban living affordable for those of us who aren’t oligarchs. “Lovely granny flats, Voltron head-cubes, and stories that tug at the heart-strings are nice, but support for these doesn’t amount to support for real micro-housing—or congregate housing developments, perhaps a better term for urbanist housing solutions,” Capps writes.

What cities need in micro-housing, he argues, is “at least the option to build for a range of buyers and renters, at a range of densities. When tiny-house enthusiasts go on about what are essentially single-family homes, they are confirming the status quo, if shrinking it a little.”

Ultimately, we need both. It’s true that crowded cities—especially those with a high concentration of young professionals who aren’t trying to fit an entire family into a 129-square-foot apartment—need affordable micro-units to alleviate intense pressure on the housing market. It’s perhaps no surprise that we don’t see that many of those designs yet, considering that even in housing-strapped cities like San Francisco,micro-apartments remain controversial. The prospect of allowing developers to pack people into a whole new definition of “cozy” worries some tenants rights advocates and even some psychologists.

 

read more…

 

http://www.fastcodesign.com/3032535/slicker-city/tiny-houses-have-a-not-so-tiny-problem?fullsite&partner=ps03101titles

Home equity is back | Bedford Hills Real Estate

Leave a reply

As home prices rise, homeowners are wasting no time making use of their newfound, or regained, home equity. In fact, while all mortgage originations rose in the third quarter of this year, the biggest gain was in home equity lines of credit (HELOCs).

Originations of these loans, which are often in addition to primary mortgages, jumped over 17 percent for the quarter, according to Inside Mortgage Finance, a mortgage industry publication: $20 billion in new HELOCs, which is the most quarterly volume for the product this year.

Phillip Spears | Digital Vision | Getty Images

At the current rate, lenders could originate more than $67 billion in HELOCs for all of 2014, which would be the most since 2009. Volume is still low by historical standards, but the gain points to not only more home equity available, but more confidence among consumers that they can tap their homes again for much-needed cash. There has, however, been a shift in the borrower mindset.

“It certainly seems like people are doing it a lot more responsibly now,” said Rick Huard, senior vice president of consumer lending product management at TD Bank. “People seem to be much more educated customers and much more responsible.”

They have to be, because on the flip side, lenders aren’t just handing out the loans to anyone with a pulse. During the last housing boom, borrowers extracted trillions of dollars worth of home equity, spending it on luxury goods and vacations, as lenders turned a blind eye to basic safeguards, like the ability to repay the loan or the borrower’s other debt load.

Today, lenders are following more stringent guidelines enforced by federal regulators, and most HELOC borrowers are using the money to improve their homes, adding value to their largest asset, not subtracting it.

A survey of more than one thousand HELOC borrowers by TD bank found many using HELOCs to consolidate other debt, thereby lowering interest rates (29 percent); credit cards can carry interest rates more than four times that of a HELOC. Others used the loans for automobiles (27 percent), emergencies (19 percent) or education expenses (20 percent). Some are refinancing HELOCs they already have.

“People are readdressing or redoing,” said Craig Strent of Maryland-based Apex Home loans. “That has probably resulted in this increase in equity line originations.”

 

 

read more…

 

http://www.cnbc.com/id/102227326

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

Leave a reply

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/

 

 

Renovated 80s Modern Looks Cool and Classic Today | Bedford Hills Real Estate

Leave a reply

 

5 Gunpowder Lane East Hampton
11 images

This house, designed in 1985 by architect Robert Young, looks fresh as a daisy now because of a recent renovation. Recent as in this autumn. The house sold back in August for $765K and now is asking $1.925M. Er…good luck with that? Looks like the flippers put in a new kitchen, bathrooms, re-landscaped and updated the mechanicals. The house has four bedrooms and 2.5 baths in 2000sf. The plot size is 0.7 acre and includes a pool and outdoor shower.

 

read more….

 

http://hamptons.curbed.com/archives/2014/11/06/renovated_80s_modern_looks_cool_and_classic_today.php

Best Farmers Markets | Bedford Hills Real Estate

Leave a reply

Many of our Westchester towns now have weekly farmers’ markets where neighbors meet and delight in superb local produce, artisanal cheeses, fresh flowers, just-caught fish, homemade baked goods, and more from vendors who drive the long distances from their farms while most of us are still in bed. Thanks to them, we get to wake up to the best the season has to offer right in our own backyards. Here’s an idea: Try one thing you’ve never had before every time you go. Not sure how to cook it? Ask the vendor for ideas—and before long, you’ll have a whole new repertoire.

1) In the full spectrum of autumn colors, beautiful ears of Indian corn from J&A Farm at the Pleasantville farmers’ market are ready to decorate front doors or brighten Thanksgiving tables.

2) Visit Alex’s Tomato Farm from Carlisle, New York, at the New Rochelle farmers’ market where Kutik’s honey sits alongside lush vegetables, flowers, fruits, and of course, tomatoes.

3) Mead Orchards of Tivoli, New York, brings pumpkins of all shapes and sizes to the busy Pleasantville market—the wooden crates and stenciled name adds a touch of days gone by.

read more….

http://www.westchestermagazine.com/Westchester-Magazine/October-2014/What-To-Get-Westchester-Farmers-Markets-Produce/

New Fed Study: Student Loans Dont Stop Grads | Bedford Hills Real Estate

Leave a reply

A study by Federal Reserve economists released today torpedoes the contention that college grads are being prevented from buying houses by student loan debt.  Rather, they are buying house at the same rate as grads with no student loan debt.

The findings have wide-ranging implications for the future of homeownership.   Surveys conducted by the national Association of Realtors and others have found widespread concern about the impact of student loan debt, which topped $1 trillion last year, on homeownership.  The implementation of the QM rule governing mortgage underwriting standards sets a 43 percent debt to income ration, with no exceptions, making it difficult for many paying off student loans to qualify, which could crush recovery of the housing market in the near future.  Concern even sparked legislation in Congress for a debt modification program.

The latest Fed study may lower the angst level and put the debate on a calmer, more rational level. Using a nationally representative sample of young individuals with credit records who were between the ages of 29 and 31 in years 2004-2010, the homeownership rate declined relatively more for those with student loan debt than for those without student loan debt.  Thus, while homeownership rates were generally higher for those with student loan debt during the entire period, the difference between the rates became much smaller by the end of 2010, suggesting that student debt may have made ownership more difficult.

In contrast, separating the group of individuals with no student debt into two subgroups: (i) those with no college education (the blue line) and (ii) those with some college education (the red line). The panel illustrates that the homeownership rates between the two groups differ substantially, with an average homeownership rate gap of about 13 percentage points over the full period. Moreover, the evolution of homeownership rate across time varies between the two groups, suggesting that combining individuals with no student loan debt and with or without college education into a single group could indeed confound statistical findings related to the relationship between homeownership and student loan debt.

Panel C compares the changes in homeownership between those with college education with and without student debt (the green and the red lines, respectively). The panel suggests that the observed declines in homeownership are not dissimilar between those with and without debt and college education

 

 

 

read more….

 

 

http://www.realestateeconomywatch.com/2014/10/8139/

 

Low Cost Vietnamese Homes | Bedford Hills Real Estate

Leave a reply

Vo Trong Nghia Architects has revealed its second-phase prototype for an affordable and low-maintenance dwelling for Vietnam, as part of a project aimed at solving the country’s housing crisis (+ slideshow).

S House by Vo Trong Nghia

The new prototype, known as S House, has been unveiled by Vo Trong Nghia Architects two years after the Vietnamese firm presented its first low-cost buildings, which were designed to offer permanent residences for less than £2,500 each.

 

 

 

read more..

 

 

Vo Trong Nghia unveils second prototype for low-cost Vietnamese housing

 

While the original design featured a lightweight steel frame, the new structure is built from precast concrete, which the architects believe offers greater long-term stability.

I Paid Off My Mortgage & My Credit Score Dropped 150 Points | Bedford Hills Homes

Leave a reply

 

Sometimes paying your bill the wrong way — or in this case, trusting that an ex-spouse will get it right — can torpedo a good credit score, as one reader found out. Here’s her story:

I have been divorced for 6 years, and my ex-husband kept the house that we lived in. He has made all house payments on time in the last 6 years. When he got down to a small amount being owed ($188) on the small loan of our 80/20 split mortgage, he sent in a check for the final amount — Not knowing there was a rule of making a final payment with a cashier’s check in lieu of a personal check. The mortgage company eventually returned the check and advised him of the same, however by then the mortgage payment was late. This resulted in them reporting this on both of our credit [reports], dropping [my score] 150  points . The error has since been resolved and the total loan amount is paid in full, however they are refusing to remove this from my credit report. I understand the whole “my name is on the loan” reasoning, and I don’t disagree with it, however this was an honest error on an otherwise spotless credit history on my part . . . . I have disputed it with the credit agencies, disputed it in writing with the mortgage company, but am looking for any advice to repair my credit score that has dropped from 780s to 600s?????

The drop in her score, from the “excellent” range to “poor/fair” territory, as a result of just one late bill, illustrates the impact that a single misstep can have on an excellent score. The good news here is that if she has other credit accounts, she won’t have trouble adding positive information to her credit reports, and those will help dilute the impact of the negative mark. So will time. The further this recedes into the past, the less impact it will have. (Our reader can and should check her scores regularly to track her progress. Credit.com offers two credit scores every 30 days for free.) Her best bet at this point is to pay bills on time and to make sure her balances aren’t higher than 20% to 25% of her credit limits.

 

read more…

 

http://finance.yahoo.com/news/paid-off-mortgage-credit-score-090024713.html