Tag Archives: Bedford Hills Real Estate for Sale

Look Inside the Bronx’s Crumbling ‘Castle on the Concourse’ | Bedford Hills Real Estate

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What’s going on with the landmarked P.S. 31, the Bronx’s “Castle on the Concourse?” Not a whole lot, it seems. Welcome2theBronx checked in on the decrepit schoolhouse that garnered an emergency demolition order from the Department of Building’s in November. Seems like the structure has flown under the razing radar and made it through the brutal winter without suffering damage due to the heavy snow, even though the roofs of other buildings in the area collapsed. However, the actively crumbling structure still faces an uncertain future, caught in the trenches between those who want to see the structure salvaged, as is believed can be done, and those who see no cost-benefit in repairing the building’s massive structural cracks and many other problems.

 

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http://ny.curbed.com/archives/2014/04/21/look_inside_the_bronxs_crumbling_castle_on_the_concourse.php

U.S. Negative Equity Rate Dips Below 20 Percent in Q4 | Bedford Hills Real Estate

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Today, Zillow released the fourth quarter Negative Equity Report. Nationally, the share of homeowners with a mortgage that are underwater, owing more on their home than their home is worth, has dropped below 20 percent for the first time in years.

As home values have continued to rise over the past year, millions of underwater homeowners have come up for air and are finally able to put their home on the market. This increase in inventory should, in turn, help create a more balanced home shopping season than we’ve seen in the past few years, with buyers having more choice and perhaps less competition.

According to the most recent numbers, nearly 10 million people were underwater on their mortgage in the fourth quarter 2013, collectively owing $657 billion more than their homes are worth. But the number of underwater homeowners is slowly but surely receding. Almost 3.9 million U.S. homeowners were freed in 2013, and the negative equity rate fell to 19.4 percent at the end of the fourth quarter, from 27.5 percent at the same time in 2012.

Nationwide, the negative equity rate is expected to fall to 17.2 percent by the end of 2014, signaling further stabilization of the market and likely freeing up even more inventory.

 

http://homes.yahoo.com/news/u-negative-equity-rate-dips-below-20-percent-050552127.html

Prices to Plateau for Months? | Bedford Hills NY Homes

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The price increases that drove the recovery in 2013, wiping out $232 billion in negative equity and prompting millions of owners to sell, may go out with a whimper when the new year arrives, leaving real estate markets with anemic price gains, if any, for months to come.

There is a growing consensus among economists and analysts that the recent slowdown in price increases is not just a seasonal lull, but the beginning of a plateau that could last through the late fall and winter months.

A new analysis by CoreLogic economist Molly Boesel examines the relationship between CoreLogic’s HPI index and list prices in recent months and suggests that, since the asking price for new listings has decreased over the past four months. “If the relationship between new listing prices and the HPI holds, this is an indication that the HPI will also be leveling off,” she wrote in an article released today.

In the same CoreLogic publication, CoreLogic’s deputy chief economist, Sam Khater, found that houses in lower price tiers are a barometer of the overall market. Low-end price changes and levels lead higher end prices by six months to a year. Low-end prices also are much more volatile because buyers of low-tier homes-first-time buyers, investors, and lower income repeat buyers are more sensitive to economic trends than higher end home buyers.

“Clearly lower-end homes prices are decelerating especially in the former boom-bust markets in the Southwest,” Khater wrote, “Current low-end prices are 22 percentage points above higher-end prices, the biggest gap during the past two decades. This indicates that the low-end price corrections over and that overall price growth will be markedly slower heading into 2014.”

The latest price reports on November from realtor.com based on its listings show prices declined 0.7 from to a 6.9 percent year over year price increase. Trulia reported asking home prices rose 1.0 percent month-over-month, the greatest monthly increase in five months. . Clear Capital reported home prices cooled off to a 10.8% year-over-year growth, a slight tapering over the previous quarter’s 11.0% yearly growth. The CoreLogic Pending HPI indicates that November 2013 home prices, including distressed sales, are expected to remain at the same level month over month as October 2013, with a projected increase of 12.2 percent on a year-over-year basis from November 2012. Excluding distressed sales, November 2013 home prices are poised to rise just 0.4 percent month over month from October 2013 and 11.3 percent year over year from November 2012.

http://www.realestateeconomywatch.com/2013/12/prices-to-plateau-for-months/

Priciest home sales in 2013 eclipsed by the previous year | Bedford Hills NY Homes

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When it comes to the priciest residential sales of the year, it seems that 2013 isn’t quite up to snuff, at least compared to 2012.

For example, the city’s top townhouse sale this past year, a $34.35 million deal at 21 Beekman Place, was lower than the $42 million sale of 973 Fifth Avenue — the priciest townhouse to sell 2012. The trade of a unit at 720 Park Avenue snagged the most expensive co-op sale for this year, but its $24 million price tag fell flat after the record-setting $54 million sale of Denise Rich’s 785 Fifth Avenue co-op in 2012. Indeed, none of the residential sales came close to the $88 million deal for Sandy Weill’s 15 Central Park West penthouse the year before, the New York Observer reported.

Of course, the Observer’s ranking did not take into account contracts signed at numerous swanky condo properties, including the two apartments that went for more than $90 million at Extell Development’s One57, nor the deals signed at 56 Leonard and Walker Tower for $47 million and more than $50 million, respectively.

The year’s priciest listings have idled, with the Pierre’s $125 million triplex penthouse at 795 Fifth Avenue and River Club’s massive $130 million planned mansion — the city’s most expensive listing — sitting on the market with, so far, no bites. [NYO]

 

 

http://therealdeal.com/blog/2013/12/23/priciest-home-sales-in-2013-eclipsed-by-the-previous-year/

Chris Brown seeks $1.92 million for his home, (in)famous for its graffiti-style artwork | Bedford Hills NY Homes

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Good news, Hollywood Hills parents: It’s safe to let your babies out again.

Not only has pop star Chris Brown removed the “monsters” that he’d painted along Rinconia Drive, he’s leaving the neighborhood and has put the whole darn house on the market.

Back in May, neighbors told the Los Angeles Times that his murals — which you can see in the June news video below — were scaring their kids. “There are lots of babies, lots of children, and they’re literally frightened. It’s like devils on the wall,” Hollywood Dell Civic Association President Patti Negri said.

The creatures’ “bulging eyeballs and giant fangs loom over the canyon,” the Times wrote.

He removed the mural after — but not because of, his lawyer hastened to say — much-publicized complaints. The lawyer told the Times in July that Brown took down the monsters because he was prepping the house for sale. And now here it is!

We’re happy to report that you can still appreciate Brown’s handiwork in listing photos of the interior. He treated a couple of walls as a giant canvas, with more of his sharp-toothed gremlins grimacing over what appears to be the living room.

Other distinctive touches in the home — which is “tailored for the most demanding in high design and quality,” according to the listing — include “spectacular custom LED site lighting and a colored LED light show in the saltwater pool and spa,” a sand pit, a “shower massage system,” “stone waterfalls,” fire pits (plural!), and “walls of glass and exotic stones.”

The asking price for this three-bedroom, three-bathroom, 3,000-square-foot fantasy? $1,920,000.

 

 

http://homes.yahoo.com/blogs/spaces/chris-brown-seeks–1-92-million-for-his-home—in-famous-for-its-graffiti-style-artwork-074531181.html

Storm Moves East, Cleanup Is Now Under Way In Bedford | Bedford Hills NY Real Estate

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The first significant snowstorm of the season has passed through Westchester County and the cleanup is well under way on Sunday.

Snowfall totals in Westchester ranged from 3 to 8 inches, with 6 inches reported in White Plains.

Climbing temperatures should make it easier for residents to clear away snow.

Cloudy skies Sunday will give way to mostly sunny skies with a high between 36-38 degrees.

With temperatures falling to a low of between 20-22 degrees tonight, icy conditions are likely through the morning.

Monday will be mostly sunny with a high near 29. Light snow is likely on Tuesday, with some accumulation expected, and a high near 37.

Wednesday should be sunny with a high around 35. Temperatures will continue to climb as the week continues, with highs near 50 expected for both Friday and Saturday.

 

 

http://bedford.dailyvoice.com/news/storm-moves-east-cleanup-now-under-way-westchester

How wise agents get appraisers to see what they see | Bedford Hills Real Estate

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Appraisals continue to be a potential issue with every contract. It doesn’t need to be this way. Of course, there will always be situations where a genuine value challenges exists. But for the most part, better preparation by agents can alleviate the majority of problems.

A key component of that preparation is an understanding of what an appraiser does and how they operate. This can quash issues before they arise. Appraisers have no interest in “killing a deal.” They get paid to complete reports. Appeals or contested reports waste everyone’s time, and no appraiser goes out looking to waste time.

Agents would do well to understand that the appraiser is not their enemy, but simply one of the many people involved in the sale.

Appraisers report the market — they don’t create it. The agent-appraiser relationship can be contentious, mainly due to a lack of understanding. Appraisers have little idea of how much time can be invested with a client, and agents have little understanding of the requirements appraisers work under.

 

 

– See more at: http://www.inman.com/2013/12/13/how-wise-agents-get-appraisers-to-see-what-they-see/?utm_source=20131213&utm_medium=email&utm_campaign=dailyheadlinesam#sthash.KkSG0mEy.dpuf

Fifty-two Percent of Largest Markets Have Recovered Half of Lost Equity | Bedford Hills NY Homes

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A majority of the nation’s largest markets, 52 percent, have now recovered more than half of the equity they lost during the Great Recession, according to the latest Rebound Report from Homes.com.

For the fourth consecutive month, all of the 200 midsize local markets measured continued to show gains year over year for the single-family index in October.  While the number of top 100 markets achieving a full recovery remained flat from the previous month, there was noticeable improvement in the number of these markets pertaining to overall recovery.  Three markets moved out of the 0-25% rebound range, and three markets moved up in the 75-100% rebound range.

Month-over-month increases in index values were seen in 251 of the top 300 markets, down from 253 the previous month.  The slight downtrend is likely due to both seasonal trends and the state of recovery for these markets.  Of the 49 markets that saw declines last month, 18 have fully recovered their decline in home prices from the housing bubble and show signs of continuing stabilization.

Seasonal downtrends, along with market stabilization, continued to trend at the end of the third quarter increased month to month – slightly down by three from last month’s report.  However, the month-to-month declines displayed by 39 markets are relatively nominal, with the largest decrease being -0.93 index points in Lynchburg, Va.

“As we end the third quarter, both large and small markets that previously achieved full price recovery from the housing depression consolidated their gains reached during the home buying season.  One in four surpassed their pre-recession peak values,” said Brock MacLean, executive vice president of Homes.com.  “These price gains are restoring millions of homeowners to positive equity and are reviving local real estate markets across the country.”

 

http://www.realestateeconomywatch.com/2013/11/