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Chappaqua Homes for Sale

US pending home sales up slightly after six-month slump | Chappaqua Real Estate

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U.S. pending home sales in November ticked upward for the first time in half a year, according to National Association of Realtors data released today.

Contracts to buy previously owned homes, also known as the Pending Home Sales Index, saw a 0.2 percent month-over-month boost to 101.7. Despite this good news, the year-over-year change was a 1.6 percent decline. Economist projects that signed contracts would go up 1 percent from October, which wasn’t far off.

“Several housing indicators have improved recently and the very modest increase in pending home sales in November is a tentative sign that activity is stabilizing, or perhaps even picking up,” JPMorgan Chase economist Daniel Silver told Reuters.

All-cash buyers accounted for 42 percent of the nearly 500,000 U.S. home purchases last month, according to RealtyTrac, as reported last week. That figure is the highest seen since RealtyTrac began tracking all-cash purchases in 2011

http://therealdeal.com/blog/2013/12/30/us-pending-home-sales-up-slightly-after-six-month-slump/

NYC Residential sales volumes set record | Chappaqua Real Estate

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A record number of fourth-quarter sales in Manhattan drove inventory to historic lows, according to a report released Friday by Douglas Elliman Real Estate, while the prices for luxury properties and condos soared, far outpacing the modest gains logged by market as a whole.

“Normally the fourth quarter is the weakest quarter of any given year,” said Jonathan Miller of Miller Samuel Inc., the appraisal firm that complied the data for the report. “We didn’t have that this time.”

Instead, the 3,297 sales in the final months of 2013 were the most Mr. Miller had seen in a fourth quarter in 25 years—up nearly 30% from the same period in 2012. In response, the supply of units on the market shriveled to 4,164, the lowest tally in 14 years.

The year-end buying frenzy was in part the result of demand that had been depressed for years by buyers’ fears about the strength of the recovery—and the housing market. Those same people have recently been gaining the confidence to take the plunge, an urge that has gained urgency as fears have mounted that mortgage rates will finally lift off from their historic lows of recent years.

“There is a lot of pent up demand and a lack of inventory,” said Dottie Herman, president and chief executive of Douglas Elliman. “You can’t take your time to shop around.”

While the robust fourth quarter did break some records, it also continued the year-long trends of low inventory and high demand, meaning relatively modest overall growth. Several reports also released Friday painted a steady market overall, with median sale prices gaining by single-digit percentages in Manhattan.

But within that market, condos and co-ops performed very differently.

For instance, median sale prices for condos reached an all-time high of $1.32 million, up 14.3% from the same time last year, in a spike that owed primarily to a different sales mix as more pricey larger units hit the market, according to Mr. Miller.

Prices also got a lift from the number of new and/or luxury units sold. The median sales price for luxury condos and co-ops rose to $4.9 million, a 10.4% increase over the same time last year. But in the huge market for co-ops, which comprise about 60% of sales, conditions were much more subdued. There median prices rose a modest 4.6% over the course of last year to $680,000.

Several other market reports painted a similar picture.

The year-end report from the Corcoran Group on the Manhattan market noted the drastic increase in prices for new luxury housing, with a whopping 72% year-over-year increase in the median sale price of new luxury housing, which hit $7.85 million. However, sales topping $5 million only made up 5% of the market.

And while 2013 has often been compared to 2007 and 2008, with several record-setting luxury sales this year, the annualized median sale price at year end was about 16% below where it stood in the second quarter of 2008, according to Mr. Miller – and that might be a good thing.

The double-digit price growth and easy credit associated with the last boom turned out to be stuff bubbles are made of, while this time around the industry seems to be building itself up on more solid footing.

http://www.crainsnewyork.com/article/20140103/REAL_ESTATE/140109975

5 Tips to Manage Snow & Ice This Winter | Chappaqua NY Homes

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If it hasn’t already found its way to your home, it no doubt will. Winter is here, and if you live in a part of the country where snow and ice are likely — an increasingly larger swath of the country these days — then you’ll be shoveling, salting, deicing, scraping and blowing or throwing snow on your property soon. Here are 5 tips to help you prepare for whatever winter sends your way.

Man removing snow from a driveway

No. 1: Upgrade your snow shovel

There are a surprising number of snow shovel designs — including one that looks like a unicycle! Basic rules, however, apply. Don’t buy a snow shovel with a wide blade if your idea of a workout is watching a football game. A small scoop may lengthen snow removal sessions, but it will help save your back and keep your cardiologist happy. Choose a shovel with a securely fastened, comfortable D-shaped grip. Some models come with an auxiliary grip that reduces the need for you to bend your back, which can cause back strain. Look for a sturdy steel or wooden handle. The blade’s edge should be reinforced with galvanized steel.

Plow-style shovels or snow pushers, some of which come with wheels, allow users to push snow out of the way instead of lifting and tossing it. These are ideal for long, straight runs and for clearing decks. With blades up to 3 feet wide, however, strength and endurance are required.

No. 2: Buy a good windshield scraper

Treat yourself to the sturdiest scraper you can find. Cheap ones break when you need them most. Opt for one that includes a handle that’s at least 2 feet long and that has a brush or squeegee on one end. If your vehicle is large, get one that extends to 3 feet. The Thor ice scraper includes a squeegee and double scraper that removes ice on both the push and pull strokes. The stainless steel handle extends to 3 feet and includes an extra grip for improved leverage.

No. 3: Stock up on ice melter

The best ice melters contain magnesium chloride or calcium chloride. They melt ice at temperatures near 0 degrees Fahrenheit and are generally less harmful to the environment. Rock salt is slightly less expensive, but it melts ice more slowly, ceases to be effective below 20 degrees Fahrenheit, and may damage concrete, lawns and plantings. It may even be harmful to animals. That said, not all “green” melts are safe around pets (and wild animals), so look for a salt-free ice melter or a product that is made from magnesium chloride. Typically, such products will be labeled “pet friendly.” Sand or kitty litter, although not an ice melter, is useful for improving traction on icy surfaces too.

No. 4: Invest in a roof rake

If you’re plagued with ice dams, despite keeping your attic insulated and ventilated, consider a snow rake. Ice dams often form on roofs, such as a cathedral ceiling, under which there is no attic. Use the rake to remove snow buildup from the lower 3 or 4 feet of your roof, so that melting snow can drain off before ice dams have a chance to build up. Snow rakes are typically fitted with a 2-foot-wide blade that’s perpendicular to the handle. The handle may be telescoping or extendable with snap-on sections. Better models have wheels that protect roof shingles as you push and pull the rake. Handle lengths range from 15 to 22 feet. An innovative “rake” design that doesn’t fit the mold is called the Avalanche. Its blade cuts through snow accumulation instead of pulling or pushing it. As chunks of snow break loose, they slide to the ground on the plastic sheeting attached to the bottom of the blade.

If you’re too late in preventing an ice dam, and it’s beginning to back up and leak inside your home, it’s usually best to call a pro. Some homeowners, however, have had success tossing a pair of calcium chloride-filled pantyhose across the dam at 6-foot intervals. Ice melt tablets formulated for roofs may also be effective, depending upon temperature and your ability to safely place them near the ice dam.

No. 5: Consider a snow blower or thrower

Snow throwers and blowers are an attractive option if you live where average annual snowfalls reach 3 feet or if you are physically impaired. Otherwise, most people get by without them. The initial cost, maintenance, fuel and storage space required for such units is simply not worth it. Choose a snow thrower for small- and medium-size clearing, and a snow blower for larger areas. Snow throwers, also called single-stage snow throwers, are smaller both in width and vertical intake. They remove and throw the snow in one continuous motion. Snow blowers, also called two-stage snow blowers, scoop up snow with an auger that feeds it to an impeller. The impeller allows snow blowers to throw snow much farther than snow throwers.

For lighter-duty snow removal, consider an electric snow shovel or an electric snow thrower. The former are typically able to handle 4-inch depths; the latter can handle 10-inch depths. The nice thing about these machines is that maintenance is significantly reduced. Electric snow throwers are available both corded and cordless.

 

 

 

Fixed Mortgage Rates Little Changed at Year-End | Chappaqua Homes

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Freddie Mac  today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates little changed as we head into the final days of the year.

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 4.48 percent with an average 0.7 point for the week ending December 26, 2013, up from last week when it averaged 4.47 percent. A year ago at this time, the 30-year FRM averaged 3.35 percent.
  • 15-year FRM this week averaged 3.52 percent with an average 0.7 point, up from last week when it averaged 3.51 percent. A year ago at this time, the 15-year FRM averaged 2.65 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.00 percent this week with an average 0.4 point, up from last week when it averaged 2.96 percent. A year ago, the 5-year ARM averaged 2.70 percent.
  • 1-year Treasury-indexed ARM averaged 2.56 percent this week with an average 0.5 point, down from last week when it averaged 2.57 percent. At this time last year, the 1-year ARM averaged 2.56 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.

“Mortgage rates were little changed this week following mixed economic reports. Real GDP was revised upwards to 4.1 percent growth in the third quarter of this year. However, existing-home sales dropped 4.3 percent to a seasonally adjusted annual rate of 4,900,000 in November. Also, new home sales fell 2.1 percent to a seasonally adjusted annual rate of 464,000.”

 

 

Come Have a Good Look at 2013’s Best Designer Dwellings | Chappaqua NY Real Estate

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1item1.rendition.slideshowWideVertical.timothy-corrigan-02-grand-salon-chateau-du-grand-luce.jpgPhoto by Eric Piasecki/Architectural Digest

This year shelter magazines tilled their terrain with many many a designer home—and why wouldn’t they? Parading the over-the-top digs of aesthetes whose entire lives drip with the glamour and point of view that made them gazillionaires is fascinating. More to the point, as much as any human’s habitat reflects his or her personal style, designers use their home to cloy the senses with their signature ballsiness—be it Ralph Lauren’s red, white, and blue tartan, Jonathan Adler’s pillows embroidered with with 1960s bouffant hairdos, or Orla Kiely’s groovy, ’70s inspired prints. These highlights (and so much more) below.

Photos by Roger Davies/Architectural Digest↑ Waldo Fernandez in Beverly Hills. Fernandez, a prolific Cuban-born interior designer, not only boasts Elizabeth Taylor, Jennifer Aniston, Sean Connery, and the Pitt-Jolie clan as clients, but also a SoCal a midcentury spread lacquered to a high shine and laced with contemporary art. After replacing the pool and adding a second-story bedroom suite, Fernandez called upon what Arch Digest calls his “perfectionist disposition” for the interiors, bringing in wenge-wood flooring, large doors “finished in exactly 17 coats of deep brown–black lacquer,” and a collection of carefully curated art and furniture. “I’m obsessed with keeping the house fresh,” he told AD. [link]

Photos by William Waldron/Architectural Digest↑ Jamie Drake in NYC. After spending years waiting for his two-bedroom unit in NYC’s Annabelle Selldorf-designed 200 Eleventh Avenue condo building to be finished—”it taunts me,” he said about the work-in-process in ’09—Drake, a big-name famed for his use of high-octane color, finally settled into his 3,000-square-foot apartment last year. Unsurprisingly, he took little time to swath it in the go-to garb—punches of bright hues, assertive art—that’s ensnared clients like Madonna and (outgoing) New York Mayor Michael Bloomberg. The home is also stuffed with pieces Drake designed, including the living room’s marble-and-granite table and his bed and headboard. [link]

↑ Howard Slatkin in NYC. In October, interior designer Howard Slatkin, who’s made a living off a layered more-is-more approach to florals, chintz, gilding, tassels, and chair skirts, released a monster tome all about a single 6,000-square-foot New York City apartment: his. Frustrated by the penchant of shelter magazines to breeze over the private, and possibly the most interesting, areas of a home—the pantries, the linen closets, the crowded, computer-topped desks—Slatkin opened up every cranny of his pad: the elevator vestibule, the back hall, the laundry area, and, duh, the “flower room” and “candle room.” For any other apartment, an editorial dive this deep would be silly, but for an apartment overflowing with ivory objets, curtains made of “17th-century Portuguese polychrome embroidered bedcovers,” French Chantilly plates, and—oh my—mahogany doors “embellished with Japanese lacquer panels inset in gild-wood frames, which are bordered with patinated mirrors,” 240 pages is really the only way to go. [link]

Average fixed mortgage rates rising slightly from last week | Chappaqua Real Estate

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Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates rising slightly from last week following positive news for housing starts and building permits.

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 4.47 percent with an average 0.7 point for the week ending December 19, 2013, up from last week when it averaged 4.42 percent. A year ago at this time, the 30-year FRM averaged 3.37 percent.
  • 15-year FRM this week averaged 3.51 percent with an average 0.6 point, up from last week when it averaged 3.43 percent. A year ago at this time, the 15-year FRM averaged 2.65 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.96 percent this week with an average 0.4 point, up from last week when it averaged 2.94 percent. A year ago, the 5-year ARM averaged 2.71 percent.
  • 1-year Treasury-indexed ARM averaged 2.57 percent this week with an average 0.5 point, up from last week when it averaged 2.51 percent. At this time last year, the 1-year ARM averaged 2.52 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.

“Mortgage rates rose slightly leading up to the Federal Reserve’s policy announcement. The statement indicated that the central bank would begin to trim its bond buying program. The Fed noted that the economy expanded at a modest pace, but the unemployment rate remains elevated. In addition, housing starts in November rose to a seasonally adjusted annual rate of 1,091,000, the highest rate since February 2008. Permits were at a seasonally adjusted annual rate of 1,007,000 in November, 7.9 percent higher than in November 2012.”

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation’s residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for one in four home borrowers and is one of the largest sources of financing for multifamily housing. For more information please visit www.FreddieMac.com and Twitter: @FreddieMac.