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Chappaqua NY

Ryan Reynolds Relists Hollywood Hills Home | Chappaqua Real Estate

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Third time is the charm, at least that is what Ryan Reynolds is hoping. The actor has stuck his Hollywood Hills home on the market for the third time and at a lower price of $1.599 million, and perhaps this time the residence will attract a buyer.

Reynolds bought the home in the celebrity-entrenched neighborhood of Outpost Estates for $1.715 million before his marriage to actress Scarlett Johansson. The two didn’t live there but in the mid-century “Wong House,” which they sold after divorcing for $3.5 million. While Reynolds and Johansson were married, Reynolds tried to sell the home, first listing it in 2009 — not the hottest year for real estate. Reynolds ended up couching the listing until 2011, relisting the home with a sticker of $1.69 million.

Then life got busy for Reynolds: He quietly married another beautiful starlet, Blake Lively, and delisted the home. The two have a home in Bedford, NY, and Reynolds is trying again to dump his former place at 2416 Carman Crest Dr, Los Angeles, CA 90068.

With just 2 bedrooms and 2.5 baths, the home is not a typical over-the-top celeb estate. Measuring only 1,789 square feet, the home does have upgrades, including hardwood floors, solar heating, a tank-less water heater and private, landscaped garden.

The listing is held by Annie Challis of Keller Williams Beverly Hills Realty.

 

 

Ryan Reynolds Relists Hollywood Hills Home | Zillow Blog.

US mortgage rates tick downward again: Good news for home prices? | Chappaqua Real Estate

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First the good news: Mortgage interest rates ticked downward for a second straight week. But it’s still been a volatile ride in recent months, and the general direction of interest rates for home loans has been up.

What does that mean?

 

If you’re a home buyer, that means the money you’ve budgeted for housing doesn’t go as far, in terms of the price you can offer to pay.

 

If you’re a home seller or home owner, a spike in interest rates can sometimes stall or even reverse the trend of rising home values. But the damage of rising interest rates doesn’t appear to be as bad as you might expect. History tells the tale, as we’ll see in a moment.

 

As of Thursday, the latest average interest on a 30-year fixed-rate loan is 4.31 percent a year, according to the firm Freddie Mac. That’s down from 4.51 percent two weeks ago.

 

Still, current US mortgage rates are also up a full percentage point from where they stood back in January. So the fact that their upward race has stalled, for a couple of weeks at least, is welcome news for the housing market.

 

“Mortgage rates eased for the second consecutive week which should help to alleviate market concerns of a slowdown in the housing market,” Frank Nothaft, chief economist of Freddie Mac, said in a statement released with the weekly mortgage data. “Existing home sales for June were the second highest since November 2009 and new home sales were the strongest since May 2008.”

 

The progress in the housing market is important for the whole economy, providing some important fuel at a time when gross domestic product is growing only modestly.

 

Home prices have been rising, boosting consumer wealth, and construction jobs have been aided by a relative shortage of homes for sale.

 

Many economists say modestly rising mortgage rates aren’t likely to stop the housing recovery. For one thing, mortgage rates are still historically low.

 

History suggests that moves in mortgage rates can exert an influence on home prices – in the opposite direction. But in some cases the damage isn’t very bad.

 

US mortgage rates tick downward again: Good news for home prices? – CSMonitor.com.

Weeklong Heat wave Tops Chappaqua News | Chappaqua Real Estate

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CHAPPAQUA, N.Y. — Here are some of the top stories from this past week in Chappaqua:

 

Weeklong Heat wave Tops Chappaqua News | The Chappaqua Daily Voice.

Power Outages Hitting White Plains, More Possible | Chappaqua Real Estate

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Scarsdale Village officials notified residents Friday that Con Edison reported a power outage Thursday night and more blackouts are possible.

“The Con Ed sub-station located off Tompkins Road near the Public Safety Building, is not functioning as designed and is causing periodic outages in the north end of Fox Meadow and the Greenacres neighborhoods as well as a portion of White Plains (800-900 customers),” John D. Goodwin of the village manager’s office said in an email to residents. “The sub-station is designed to operate so that if a main feeder line is lost the sub-station trips to an alternate line or back-up line.  The problem is that when the feeder line is lost due to the current excessive heat issues, the sub-station is “over-tripping” breaking the whole system down resulting in power loss to the resident.”

Goodwin said the system has been fixing itself over a two to four hour time period, though the problem is re-occurring.

“Con Edison engineers are working on a permanent solution. In the meantime, Con Ed has made some temporary changes to the sub-station to prevent over-tripping and, as a back-up, has a generator in the area in case the sub-station fails again prior to a permanent solution,” he said.

 

 

Power Outages Hitting White Plains, More Possible | The White Plains Daily Voice.

Will Rising Mortgage Rates Halt The Housing Rebound? | Chappaqua Real Estate

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Could rising mortgage rates derail the housing market’s slow healing? Economists in the latest Wall Street Journal survey are divided on the question. Among those surveyed, 40% said the rise “won’t have a noticeable effect,” 35.6% warned “it will slow sales” and 24.4% said “it will slow home-price gains.”

 

There’s no doubting the housing market’s contribution to the overall recovery. Federal Reserve Chairman Ben Bernanke, in starting two days of congressional testimony, on Wednesday told lawmakers that  “housing has contributed significantly to recent gains in economic activity. Home sales, house prices, and residential construction have moved up over the past year, supported by low mortgage rates and improved confidence in both the housing market and the economy.” The Fed chief seemed to place himself within the no “noticeable effect,” camp, but added, “Housing activity and prices seem likely to continue to recover, notwithstanding the recent increases in mortgage rates, but it will be important to monitor developments in this sector carefully.”

 

In the Fed’s periodic report on regional economic conditions, issued Wednesday, the central bank sounded a relatively upbeat note, saying “Residential real estate activity increased at a moderate to strong pace in most Districts.” The beige book continued, “Most Districts reported increases in home sales.”

 

Interest rates on 30-year fixed-rate mortgages have jumped in the recent months, climbing in the most recent week to 4.37%, up more than a percentage point from the 3.35% level of early May. However, even with the climb, rates are lower than they have been in decades.

 

That historical perspective is important, said Stephen Stanley, of Pierpont Securities, who noted “rates were so incredibly low before they can rise significantly and still be incredibly attractive by historical standards.”

 

Mr. Stanley said the housing market’s healing is likely to continue because—despite the rise in rates—the fact that home prices are going up…is an overwhelming incentive for people.”

 

John Lonski, ofMoody’s MCO +0.02% Analytics, sees rising rates affecting sales, and points to mortgage applications for home purchases to support his point. During the four-week period ended July 12, those applications were down 5% from their 2013 high, during the four weeks ended May 3, Mr. Lonski said. “This tends to suggest that higher mortgage yields will at least slow the housing recovery.”

 

He added, “It doesn’t mean that home sales are about to collapse or contract. But they will be slowed by costlier mortgages.”

 

Will Rising Mortgage Rates Halt The Housing Rebound? – Real Time Economics – WSJ.

New Home Prices Rise in China | Chappaqua Real Estate

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New home prices in major Chinese cities rose strongly in June compared with a year ago, according to an analysis of official data released Thursday, but the market is also showing signs of moderation following last month’s government-led liquidity squeeze.

Prices rose an average of 6.12% in June compared with a year earlier, according to Wall Street Journal calculations based on data released by the National Bureau of Statistics on 70 large and medium-size Chinese cities. Prices rose in 69 of cities in June compared with a year earlier, unchanged from May.

The result marks the latest pickup in the pace for home-price appreciation on a year-to-year basis—prices rose 5.32% in May and 4.27% in April, according to the calculations.

But compared with May, home-price appreciation appears to be easing a bit. Prices in the 70 cities increased an average 0.78% in June compared with May. They had risen 0.86% in May and 0.9% in April compared with the prior months, according to the calculations.

The data showed that prices of new homes in 63 of 70 large and medium-size cities rose in June from May. Prices fell in five cities and were unchanged in two cities. In May, prices rose in 65 cities.

“The moderation in growth momentum will likely continue, but home prices are not going to drop,” said Lee Wee Liat, a property analyst at BNP Paribas BNP.FR +0.16%. A decline is unlikely as many Chinese cities have issued guidance targeting home price growth at 10%, alongside expected gains in disposable income per capita, Mr. Lee added

 

 

 

read more…

http://online.wsj.com/article/SB10001424127887323309404578612880231899740.html

 

Health Department Issues Heat Advisory In Chappaqua | Chappaqua Real Estate

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WESTCHESTER COUNTY, N.Y. — With temperatures soaring towards 90 degrees on Monday, the Westchester County Health Department has issued a county-wide heat advisory.

Residents are advised to avoid strenuous activity, drink plenty of non-alcoholic, non-caffeinated beverages, and take precautions to prevent heat-related illness.

The Health Department also stated to residents to be alert for symptoms of heat stroke.

Symptoms include hot, red, dry skin; shallow breathing; a rapid, weak pulse; and confusion. Anyone suffering from heat stroke needs to receive emergency medical treatment immediately. Call 911 if you suspect heat stroke and immediately cool the overheated person while waiting for emergency help to arrive.

“Heat stroke and dehydration can take you by surprise,” Westchester County commissioner of health Dr. Sherlita Amler said in a statement. “The elderly, young children and those with high blood pressure, heart disease, or lung conditions need to be especially careful to avoid heat-related illnesses. High humidity and some medications can also increase a person’s risk for heat stroke.”

While less dangerous than heat stroke, heat exhaustion also poses concerns. Seniors, children up to age four, people who are overweight or who have high blood pressure and those who work in hot environments are most at risk. Signs include headache, nausea or vomiting, dizziness and exhaustion, as well as cool, moist, pale or flushed skin. People suffering from heat exhaustion should be moved out of the sun and have cool, wet cloths applied to their skin.

For more information, visit the Westchester County Health Department Website.

Real estate horror continues with ‘zombie foreclosures’ | Chappaqua NY Real Estate

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Joseph Keller doesn’t expect he’ll live to see the end of 2013. He blames the three story house at 190 Avondale Avenue.

Five years ago, Keller, 10 months behind on his mortgage payments, received notice of a foreclosure judgment from JP Morgan Chase. In a few weeks, the house would be put up for auction at a sheriff’s sale.

The 58-year-old former social worker and his wife, Jennifer, packed up their home and moved. Joseph thought he would never have anything to do with the house again. And for about a year, he didn’t. Then it started to stalk him.

He had become caught up in a little-known horror of the U.S. housing bust: the zombie title. Six years in, thousands of homeowners are finding themselves legally liable for houses they didn’t know they still owned after banks decided it wasn’t worth their while to complete foreclosures on them. With impunity, banks have been walking away from foreclosures much the way some homeowners walked away from their mortgages when the housing market first crashed.

First, in 2010, the county sued Keller because the house, already picked clean by scavengers, was in a shambles, its hanging gutters and collapsed garage in violation of local housing code. Then the tax collector started sending Keller notices about mounting back taxes, sewer fees and bills for weed and waste removal. And last year, Chase’s debt collector began pressing Keller to pay his mortgage, which had swollen, with penalties and fees, from $62,100.27 to $84,194.69.

The worst news came last January, when the Social Security Administration rejected Keller’s application for disability benefits; the “asset” on Avondale Avenue rendered him ineligible. Keller’s medical problems include advanced liver disease, hepatitis C and inactive tuberculosis. Without disability coverage, he can’t get the liver transplant he needs to stay alive.

Real estate Foreclosure: Joseph Keller and his wife Jennifer stand on the porch of their abandoned house in Columbus, Ohio, September 30, 2012. IMAGE

 

 

Real estate horror continues with ‘zombie foreclosures’.

Seattle Residential real-estate market makes recovery | Chappaqua Real Estate

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After a bumpy 2011 and a slow-starting 2012, there is no disputing the residential real-estate market this year has pulled out of the depths of the mortgage crisis.

For the last 18 months, the median home price in King County has gone up each month when compared to the same month a year ago. Since January, the median price also has gone up each month from the previous month. Median means half the homes sold for more, half for less.

The high-water mark was set in July 2007, when the median price of a single-family home in King County was $481,000.

A closer look at the submarkets in June shows the same basic trend with a few twists.

• Eastside: The most expensive area keeps its title. In the last two years, the median has moved up 16 percent to $591,825 from $510,000 in June 2011. The July 2007 median high was: $628,000.

• Seattle: The median is $458,000, up 19.7 percent from $382,500 in June 2011. The July 2007 median: $499,000.

• North King County: The median is $375,000, up 22.4 percent from $306,250 in June 2011. The July 2007 median: $448,250.

Foreclosures and short sales hit the southern end of the county the hardest. Even so, the prices have increased.

• Southwest King County (Burien, Tukwila, Des Moines, Federal Way, west Kent): The median is $240,000, up 28 percent from $187,500 in June 2011. The July 2007 median: $330,000.

• Southeast King County (Renton, east Kent, Auburn, Maple Valley): The median is $292,100, up 21.7 percent from $239,900 in June 2011. The July 2007 median: $375,000.

If you have been sitting on the sidelines the last two years, you have missed the bottom in terms of prices and interest rates.

Mortgage buyer Freddie Mac reported Thursday the average on the 30-year loan rose to 4.51 percent, a two-year high.

The average on the 15-year fixed mortgage increased to 3.53 percent from 3.39 percent last week. That’s the highest since August 2011.

Just two months ago, the average rate on the 30-year loan was 3.35 percent — barely above the record low of 3.31 percent.

 

Residential real-estate market makes recovery | Business & Technology | The Seattle Times.

Former missile silo reborn as a $750K home | Chappaqua Real Estate

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Here's another missile …

 

If you’re looking for a peaceful country home that can also keep you safe from natural disaster, social upheaval, disease and even zombies, this home is for you.

A decommissioned Cold War-era missile silo, located in the Adirondock Mountains of upstate New York, recently hit the market for $750,000. While it’s not much to look at from the outside, if you go 40 feet below ground, you’ll find a 3,200–square-foot silo home, including one bedroom, one bathroom, a kitchen and a large living area. (Click here or on a photo to go to a slideshowwith more than a dozen pictures of the home.)

Click on a photo to go to a slideshow of a missile silo home. Photo by Brian Dominic of Select Sotheby's International Realty“It’s very crazy that when you drive up to this silo you cannot see anything because it is all underground,” said Realtor Brian Dominic of Select Sotheby’s International Realty. “There is no curb appeal necessary.”

 

 

Former missile silo reborn as a $750K home | Former missile silo reborn as a $750K home – Yahoo! Homes.