Tag Archives: Chappaqua Real Estate for Sale

New homes selling at slowest pace in seven months | Chappaqua Real Estate

Leave a reply

Sales of new single-family homes dropped in June to the slowest pace in seven months, according to data released Friday that signaled a hiccup for the market.

The annual sales pace for new single-family homes in the U.S. fell 6.8% last month to 482,000, with drops in three of four regions, the U.S. Commerce Department. Only the Northeast saw the sales pace rise.

Economists polled by MarketWatch had expected a June sales rate of 550,000, compared with an original May estimate of 546,000. On Friday the government revised May’s rate to 517,000.
While June’s result is disappointing, economists caution over reading too much into a single monthly report. A confidence interval of plus-or-minus 12.5% for June’s drop of 6.8% shows that the government isn’t sure whether the sales pace rose or fell last month.

Trends signal improvement, with June’s sales pace up 18.1% from a year earlier.

“Even the disappointing June reading still represents progress over a longer time horizon,” said Stephen Stanley, chief economist at Amherst Pierpont Securities. “I view today’s reading for the typically volatile new home sales data as statistical noise.”

The median price of new homes fell to $281,800 in June, down 1.8% from a year earlier.

Recent new-home sales and building rates remain far below long-term averages. But a strong jobs market is expected to support rising home sales by helping more families afford ownership. Earlier this week, mortgage-finance giant Fannie Mae raised its 2015 expectations for U.S. home sales, upping its forecast for new and used homes. A mortgage-industry group also cranked up its forecast this week, raising its expectations for mortgage originations.

Elsewhere in the housing market, a recent report on existing homes, which make up the bulk of the residential-sales market, showed strong growth for June. However, economists warned about getting too excited over that flurry of activity, noting that some of the recent buying growth may reflect buyers rushing to lock in mortgage rates before they rise further.

 

read more…

 

http://www.marketwatch.com/story/new-homes-selling-at-slowest-pace-in-seven-months-2015-07-24

30 Year #Mortgage Rate 4.04% | #Chappaqua Real Estate

Leave a reply

Freddie Mac  today released the results of its Primary Mortgage Market Survey® (PMMS®), showing an investor flight to safety for U.S. Treasuries is pushing average fixed mortgage rates lower and helping to keep buyer activity strong toward the close of the spring homebuying season.

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 4.04 percent with an average 0.6 point for the week ending July 9, 2015, down from last week when it averaged 4.08 percent. A year ago at this time, the 30-year FRM averaged 4.15 percent.
  • 15-year FRM this week averaged 3.20 percent with an average 0.5 point, down from last week when it averaged 3.24 percent. A year ago at this time, the 15-year FRM averaged 3.24 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.93 percent this week with an average 0.4 point, down from last week when it averaged 2.99 percent. A year ago, the 5-year ARM averaged 2.99 percent.
  • 1-year Treasury-indexed ARM averaged 2.50 percent this week with an average 0.3 point, down from last week when it averaged 2.52 percent. At this time last year, the 1-year ARM averaged 2.40 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 theRegional and National Mortgage Rate Details and Definitions. Borrowers may still pay closing costs which are not included in the survey.

Quote
Attributed to Sean Becketti, chief economist, Freddie Mac.

“Yields on Treasury securities declined this week in response to investor concerns about events in Greece and China. Mortgage rates fell as well, although not by as much as government bond yields. The rate on 30-year fixed-rate mortgages fell 4 basis points to 4.04 percent.”

“Overseas volatility is likely to persist for some time, providing some restraint on potential U.S. rate increases. In addition, the minutes of the June meeting of the Federal Open Market Committee suggest the Federal Reserve will proceed cautiously — monitoring events both overseas and in the U.S. to ascertain the appropriate moment to begin raising short-term interest rates. As a result, mortgage rates may remain in the neighborhood of 4 percent for a while.”

Declines for Residential Construction Spending in March | #Chappaqua Real Estate

Leave a reply

NAHB analysis of Census construction spending data finds that over the last year, the pace of private single-family construction spending increased 7.8% and multifamily construction spending increased 23.4%, despite monthly declines for March.

For the month, the seasonally adjusted annual rate of single-family construction spending was $200.7 billion, down 1.8% from February. The March rate of multifamily construction spending was $49.2 billion, 2.1% lower than February.

The construction data (indexed in the graph below, so that the January 2000 pace is equal to 100 for both variables) illustrate the degree to which multifamily spending is thus far leading the recovery for the residential construction sector. NAHB expects gains for multifamily to slow in 2015, while single-family construction increases.

constr spending_res

It is worth noting that the Census measure for total private residential construction spending shows a 2.6% year-over-year decline, despite annual gains for single-family and multifamily development. This decline is due to a decrease in the separate improvement category, which contrasts with other measures, including theNAHB Remodeling Market Index, which indicates strength for the home improvement sector.

From March 2014, the pace of combined public and private non-residential construction spending increased 4.7% on a seasonally adjusted annual rate basis to $611.8 billion. From February 2015, non-residential spending was effectively flat, declining 0.1%.

constr spending_res_nonres

The largest year-over-year gains for nonresidential construction spending have been experienced by the classes of manufacturing-related construction (50.7% gain), amusement/recreation (23.8%), lodging (22%), office (19.8%), and sewage/waste disposal (19.6%).

 

read more…

 

http://eyeonhousing.org/2015/05/declines-for-residential-construction-spending-in-march/

Modest Gains for Home Construction | #Chappaqua Real Estate

Leave a reply

After a disappointing set of housing data last month, recent reports suggest a return to trend for home building as the nation enters the spring home buying season.

Home builders reversed a one-month decline in sentiment as the April NAHB/Wells Fargo Housing Market Index (HMI) increased 4 points to 56 in April from a one-point downwardly revised 52 in March. The bounce back up to the January-February average suggests the March observation was an outlier.

All three components of the HMI rebounded to or above the early part of 2015. The current sales index rose three points to 61, matching the February level and standing just one point below the January report. The expected sales component rose five points to 64, the highest in 2015, and the traffic component rose four points to 41. The solid and significant increase in expectations suggests builders are expecting the market to continue growing.

Consistent with this rebound in market sentiment, Census-estimated housing starts increased 2% to a seasonally adjusted annual rate of 926,000 in March. Single-family starts increased 4.4% to a 618,000 rate. Multifamily starts dropped to a 308,000 pace, the lowest monthly rate since September 2013. Most of this decline in apartment construction was concentrated in the West.

Permits were down 5.7% overall, mostly due to a 15.9% loss in multifamily, evenly spread across three of the four regions. Northeast multifamily permits rose 55% to 90,000, the highest since June 2008, when a code change caused a one-time jump. The remaining three regions accounted for a 108,000 fall, offsetting the 48,000 increase in the Northeast. Single-family permits rose 2.1% to a 636,000 rate, with only the West showing a decline of 2% or down 3,000 to a 146,000 permits pace for March

 

read more…

 

http://eyeonhousing.org/2015/04/eye-on-the-economy-modest-gains-for-home-construction/

Down to Earth Farmers Markets | Chappaqua Real Estate

Leave a reply

DTE-E-Mail-Masthead_(722x126pxl)_(1-14-15)07

Mamaroneck:
Shovel Ready String Band Plays 10 am-noon;
Honey, Indian Simmer Sauces, & Ice Cream Tempt Local Palettes + More!

Ossining:
Celtic Fiddle with Brian Vegh this Saturday;
Welcome Back Taiim Falafel Shack & OM Champagne Tea + More!

March 19-25th, 2015
DowntoEarthMarkets.com

BrooklynWinterOffer
What’s New, In Season, and On Sale This Week
Chicken Bone Broth
Sold in re-sealable bags, easy to recycle.
$10 for one 24 oz bag or $18 for two
Great for the “Bone Broth Challenge” (a cup a day) or
in wide variety of cooking!
Yellow Bell Farm		 Gluten-Free Pasta Varieties: Including Egg + Spinach and Egg
Trotta Foods
Click on a market to see all vendor and event details…

Ossining Winter
​
Saturdays
9:00 am-1:00 pm
Claremont Elementary School on Van Cortlandt Avenue, off of N. Highland (Rte. 9)

Note: The market moves back outside to the corner of Spring & Main Streets in downtown Ossining
on Saturday, April 4th.

Mamaroneck Winter

Saturdays
9:00 am-1:00 pm
St. Thomas Episcopal Church
168 W. Boston Post Road

Headed to the city? We’ve got markets there, too. CLICK HERE for details.

Announcements
Down to Earth Markets is Hiring!

It’s Hiring Season here at Down to Earth Markets. As we prepare for the 2015markets, we have PAID,
part-time positions available in Westchester. Most markets run one day per week, from May through Thanksgiving. Click here for details. Applications are due to Frankie Rowland, Westchester/Rockland County Territory Manager, by Tuesday, March 31st. We look forward to hearing from you.

Ossining: Please Order Tierra Farm Nut Products with Market Manager, Samantha

Down to Earth Markets is happy to partner with Claremont Elementary School to hold the Ossining Indoor Winter Farmers Market. In an effort to meet the needs of the school community, Tierra Farm will no longer be a vendor at the indoor market. For customers interested in purchasing Tierra Farm products, there will be weekly order forms available at the market. Please submit your Tierra Farm order form to the market manager, Samantha, during market hours, 9 am to 1 pm. During the week, you can pick up your Tierra Farm order at Down to Earth’s office on Main Street in Ossining.
We look forward to seeing you.

Tierra Farm will return on Saturday, April 4th, when the market moves back outside to its longtime home at the corner of Spring and Main Streets in downtown Ossining.

For upcoming events, visit our Down to Earth Markets Event Calendar.

Stay tuned to all market happenings via our Down to Earth Markets Facebook page
and follow us on Instagram and on Twitter @DowntoEarthMkts.

Rotating* Vendors This Week
*Vendors who rotate through various markets during the season.
They enjoy getting to know many communities. Here’s where to find them this week:

Mamaroneck – Saturday, March 21st

Calcutta Kitchens
Hudson River Apiaries
LizBeth’s Dessert Boutique (Handmade ice cream)

Ossining – Saturday, March 21st

OM Champagne Tea (Small batch kombucha)
Taiim Falafel Shack

Down to Earth Markets 173 Main Street Ossining, NY 10562 Phone: 914-923-4837
DowntoEarthMarkets.com

Builders Sentiment Weakens Slightly | Chappaqua Real Estate

Leave a reply

The March NAHB/Wells Fargo Housing Market Index dropped two points to 53 from February, the third consecutive monthly decline in the index. While softening during the winter months, the index has remained above 50 since July 2014. Furthermore, of the three components to the index, the expectations for future sales remained steady at 59 (from the downwardly revised February of 59).

The HMI decline was primarily driven by a decline in builders’ judgment of current sales where the index fell three points from 61 to 58. While a reading of 58 is well above the tipping point of 50 where more builders rate the market as good rather than poor, it is the lowest reading in that component since June 2014. New home sales up through January have been moving up.

New Home Sales & HMI Current Sales Component
Builders continue to face challenges finding labor and lots. Lot prices are rising and making it more difficult to remain within buyers’ expectations for the final new home price. Adding labor also means forcing up wage rates while potential buyers remain very price sensitive. Appraisals have also hindered sales particularly at lower price points where supply cost increases have the greatest impact on the final price. A number of comments in this month’s survey mentioned buyers’ desire for bargaining in the face of rising home prices.

Regional changes were in both directions. The three month moving average was down in the Northeast, South and West two, two and seven points respectively but up two points in the Midwest. Monthly regional indicators, often more erratic, were up 13 points in the Midwest but down seven points in the Northeast, two points in the South and 11 points in the West. The more dramatic declines in the Northeast and West align with the larger negative changes in existing home sales in January.

 

read more…

 

http://eyeonhousing.org/2015/03/builders-sentiment-weakens-slightly/

Weekly mortgage applications drop as rates jump | Chappaqua Real Estate

Leave a reply

A sharp jump in mortgage rates last Friday took its toll on home lending, leaving mostly high-end home buyers on the playing field.

Total mortgage application volume fell 1.3 percent week-to-week on a seasonally adjusted basis for the week ending March 6th, according to the Mortgage Bankers Association (MBA). The fall was driven by a 3 percent drop in applications to refinance. Refinance volume is now at its lowest level since January and accounts for just 60 percent of all applications. Refinances had seen as much as an 80 percent share of all applications in recent years, as rates dipped and home buying stalled.

Mortgage applications to purchase a home rose two percent for the week and are two percent higher than a year ago. The slight increase, however, was largely due to higher-end home buyers. The average purchase loan size last week soared to $294,900, the highest level ever recorded on the MBA survey. The median price of a U.S. home sold in January was $199,600, according to the National Association of Realtors.

“The record high average loan size indicates that the strength of the market remains at the high end. We have not yet seen an influx of first-time homebuyers,” noted Michael Fratantoni, chief economist for the MBA.

A stronger-than-expected February employment report last Friday pushed interest rates higher, as investors now expect the Federal Reserve to increase its lending rate by mid-year. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) increased to 4.01 percent, the highest level since the week ending January 2, 2015, from 3.96 percent, with points increasing to 0.39 from 0.30 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans, according to the MBA.

Interest rates edged back a bit Tuesday, as the stock market sold off, but 4 percent may be the new normal now for 30-year fixed rate loans, with the expectation that they would move higher later this year. While these moves may seem small, they can take away significant purchasing power, especially for lower income borrowers using small down payments. With home price gains accelerating, and still tight supply of homes for sale, home buyers are especially sensitive to every potential penny lost or gained.

 

read more…

 

https://homes.yahoo.com/news/weekly-mortgage-applications-drop-rates-110000215.html

 

Remodelers See Market Improving | #Chappaqua Real Estate

Leave a reply

NAHB’s Remodeling Market Index (RMI) was 60 in the final quarter of 2014, indicating widespread confidence among remodelers that the market was improving compared to the previous quarter. The RMI and each of its components lies on a scale of 0 to 100, where a number above 50 indicates that more remodelers report market activity has improved (compared to the prior quarter) than report it has deteriorated.

RMI graph 14Q4

The overall RMI averages ratings of current remodeling activity with indicators of future remodeling activity. The current market conditions component of the RMI increased to 60 from 57 in the previous quarter. The readings for all subcomponents, including large additions and small remodels as well as maintenance and repair, also saw increases.

The RMI’s future market conditions index also increased, to 60 from 58 in the previous quarter. All four of its subcomponents—calls for bids, amount of work committed for the next three months, backlog of jobs and appointments for proposals—increased from the previous quarter’s reading.

RMI table 14Q4

The RMI shows that, even with some weakness in existing homes sales and house prices earlier in the year, remodelers remain optimistic that markets are improving as 2014 closes. This is consistent with NAHB’s view that the remodeling market will show gradual improvement going forward.

 

read more…

 

http://eyeonhousing.org/2015/01/remodelers-see-market-improving/

Teatown Lake Reservation news | Chappaqua Real Estate

Leave a reply
October 1, 2014                                                               Like us on Facebook Follow us on Twitter Find us on Pinterest  View our videos on YouTubenull
Apellegrino

PROGRAMS:
Advanced Registration is required for all programs. Unless noted, all programs meet in the Nature Center and are $7 per person or FREE for members. Please register by calling (914) 762-2912 ext. 110. 
Nature Matters: Managing Deer to Protect Our Forests-
Is There An Answer?
Thursday, October 2
7 pm 

In the Theater at the Ossining Public Library

Speaker: Dr. Mark Weckel,

Postdoctoral Conservation Research and Teaching Fellow,
American Museum of Natural History
This event is co-sponsored by the Ossining Public Library.
Free.
Raptors on the Wing
Saturday, October 4
11 am – 12 pm

It is migration season for raptors as they take wing to fly south. Meet Teatown’s raptor ambassadors and find out the migration stories that make them take flight.

Not suitable for children under 5. 

Field Day on the Farm
Sunday, October 5
1 pm – 2:30 pm

Before the days get colder take one last hike into the fields at Cliffdale Farm where we will look for insects.

Visit Teatown
APellegrino

1600 Spring Valley Road
Ossining, NY 10562
Teatown Lake Reservation’s
mission is to inspire our community to lifelong environmental stewardship.
Nature Center hours:
9 am – 5 pm daily
Trails are open 365 days a year from dawn to dusk.
Click here for Teatown membership benefits, details,
and to purchase or renew
your membership online.

Your donation can make

an immediate impact and help

support our environmental education programs and the stewardship of our 1,000 acre preserve.

 

 

Shop on Amazon?

Click the link below and a portion of your Amazon purchase will be donated to Teatown!

Click here.

Upcoming Events and Workshops:
Hiking the Road to Ruins
Thursday, October 9
7 pm – 8:30 pm

Join author David Steinberg for this informative talk about his book Hiking the Road to Ruins. The Hudson Valley has a wealth of abandoned iron mines and rock quarries, deserted buildings, and historic military sites that make great hiking destinations, especially when you learn the

ins and outs of these locales. This is an adult program.

Nature of Leaves
Saturday, October 18
1 pm – 3 pm

Celebrate autumn by taking a hike with a Teatown educator. Collect autumn leaves and learn how and why leaves turn color in the fall. Work with leaves and other botanicals to create a fall medallion to put in your window for autumn light to shine through. Guided by Strawtown Studio..

Lighthouse Illumination Art Workshop
Sunday, October 19
2 pm – 4 pm
at the Kathryn W. Davis RiverWalk Center, Kingsland Point Park, Sleepy Hollow
 

Join Teatown educators and artists from Strawtown Studio at the Kathryn W. Davis RiverWalk Center, in Kingsland Point Park, Sleepy Hollow for this illuminating workshop! The Tarrytown Lighthouse will serve as inspiration to create lanterns from foils, mirrors, beads and other reflective materials to light up the long winter nights ahead. Learn the importance of light as a guide for animal and human navigation. Please bring a flashlight!

In the Nature Center Gallery:   


Recent Works by

Melissa Bisbee Orme

 

Opening Reception: October 9 at 6pm

On exhibit October 2014

Click here for more info

Teatown Highlight:   

Great volunteers are always making improvements to our trails. 

Last weekend, 12 individuals and 7 families (40 people total) from the Yorktown Church of Jesus Christ of Latter-day Saints came to Teatown Lake Reservation as part of their Helping Hands Service to help get our trails ready for autumn hiking. Plan your employee or group volunteer opportunity here.