Tag Archives: Katonah Homes for Sale

Katonah Homes for Sale

Condos gaining popularity in Greenwich real estate market | Katonah Real Estate

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Greenwich is traditionally known for its sprawling multi-million dollar estates and a community that provides escape from the compact living associated with nearby Manhattan.

But what happens when those expansive single-family homes are no longer the preferred abode for Greenwich elite?

Jonathan Miller, president of Miller Samuel Real Estate Appraisers and Consultants, said an influx of luxury condos on the market — and a rush of city dwellers seeking homes with little upkeep in the suburbs — is changing the way people think about Greenwich real estate.

“We’re seeing this in Westchester, we’re seeing this in the Hamptons … where the development is luxury condo products,” Miller said. “We’re seeing this city-to-suburban path where people coming from the city are used to this —not having to take care of the exterior of the property, etc. — and we’re seeing this pop up in a lot of New York City metropolitan area suburbs, including Greenwich.”

Miller prepares an independent quarterly report for real estate firm Douglas Elliman, which recently entered the Greenwich market. The Elliman Report details the changing trends in the region, particularly as it relates condominium and townhouse sales to single-family homes. The first quarter report showed the ongoing change in the Greenwich real estate market — mansions were struggling to sell while condos with less upkeep (and a lower price tag) were more popular among buyers.

 

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http://www.greenwichtime.com/business/article/Condos-gaining-popularity-in-Greenwich-real-6413253.php

New Home Sales: Growth for FHA-Backed Mortgage Share | Katonah Real Estate

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NAHB analysis of the most recent Census numbers reveals two consecutive quarters of higher market share of FHA-backed mortgages for the new home sale sector. This development comes after a reduction in FHA premiums announced at the start of 2015.

qtrly new home sales_2q15

Despite the surprising drop for the pace of new home sales in June (down 6.8%), the strong non-seasonally adjusted sales level for April (revised to 50,000 homes) pushed total sales for the second quarter of 2015 to a post-recession high of 143,000. This is according to data from the Census Bureau’s Quarterly Sales by Price and Financing and NAHB calculations.

New home sales due to FHA-backed loans increased to a quarterly count of 100,000 and a market share of 16% for the second quarter according to the Census numbers. This is higher than the approximate share of 11% from a year prior.

It is worth adopting some caution associated with these estimates. In particular, the statistical error associated with the FHA, cash, and VA sales estimates from this data set are relatively high. This reduces the reliability of measures of short-term market changes.

Mindful of this limitation, the current FHA-share estimate is lower than the 28% share determined for the first quarter of 2010 but is higher than the 10% 2002-2003 average. The FHA share has fallen as the conventional financing share recovered. However, the share increased from 10% to 16% from the end of 2014 to the start of 2015.

 

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http://eyeonhousing.org/2015/07/new-home-sales-growth-for-fha-backed-mortgage-share/

Home-builder confidence rises to nine-month high | Katonah Real Estate

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A gauge of confidence among home builders rose five points to 59 in June, hitting a nine-month high, according to National Association of Home Builders/Wells Fargo data released Monday. Economists polled by Dow Jones Newswires had expected a June result of 55.

Gauges of builders’ views on present and upcoming home sales each hit their highest level since late 2005, shortly before the housing bubble burst. Readings above 50 signal that home-construction companies, generally, are optimistic about sales trends, and June marks the 12th consecutive month of above-50 readings.

NAHB said a barometer of builders’ views on present sales of single-family homes rose seven points to 65 in June, while a gauge of their views on upcoming sales increased six to 69, and an index of prospective-buyer traffic rose five to 44.

 

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http://www.marketwatch.com/story/home-builder-confidence-rises-to-nine-month-high-in-june-2015-06-15

New Home Sales Surge | Katonah Real Estate

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Builders signed contracts on more homes in February 2015 than any time since early 2008 according to the Census Bureau and HUD. February seasonally-adjusted annual new home sales topped out at 539,000, up 7.8% from a healthy 500,000 in January. Sales increased a whopping 153% in the Northeast region but that was a make-up from an overabundance of snow in January that slowed the rate of sales to its lowest level in the 43 year history of the series. Sales were up 10.1% in the South to the highest level since early 2008. Sales were down 6% in the West but back to the level established in the fourth quarter of 2014. The Midwest saw a slight softening in sales (down 12.9% monthly and 3.6% annually) but still within the range of sales in the fourth quarter of 2014.

Regional New Home Sales
Inventories dropped slightly to 210,000, which with the increased sales rate, dropped the month’s supply to 4.7 months. Builders were able to sell an increased share of their homes from inventory in December and January. Along with the rise in sales suggests an improved starts picture in the future.
Share of New Homes Sold While Under Construction

Prices rose 2.6% from last February to a median of $275,500. The shift is due to more sales at the upper end of the price spectrum as fewer first time buyers continue to push the only new sales more to the repeat buyer market. The share of homes sold for more than $500,000 increased from 11% in February 2014 to 15% in February 2015.

 

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http://eyeonhousing.org/2015/03/new-home-sales-surge/

 

WaterNest Floating Home | Katonah Real Estate

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WaterNest 100 eco-friendly floating home

Meet the WaterNest 100 floating home. Designed by architect Giancarlo Zema and developed by EcoFloLife after years of research, the WaterNest is intended for use on any calm body of water and is built from materials that are 98% recyclable.

The 1000-square-foot floating pod-shaped home measures 40 feet in diameter and 14 feet tall. Its curved body is constructed from recycled glued laminated timber atop a recycled aluminum hull. It is self=powered by a roof mounted, 600 square foot solar display that generates 4 kW of electricity. The solar panels are framed by generously sized skylights on either side. Large windows and balconies wrap around the unit to give users to unobstructed views of the water. The glazing also lets in plenty of sunshine to light the interior. If you want to use solar power for your home, you have options, taking advantage of clean energy doesn’t need be complicated. As a full-service electrical contractor and solar energy specialist, Artisan makes the entire process seamless and easy for you, for more about Artisan Electric. You may be able to buy or lease a system or sign a power purchase agreement. Your choice can affect how much you spend up front and over the life of the system, whether you get certain tax breaks or not, and your responsibilities when you sell your home. Evaluate the company, product, costs and your obligations before you make a commitment.

WaterNest 2The developers created a “sophisticated system of internal natural micro-ventilation and air conditioning” to classify the building as a “low-consumption residential habitat.” The WaterNest 100 also features a flexible interior design that can be changed to suit different uses. If the owner doesn’t intend to use the unit as a home, the floating ecological pod could easily be reconfigured into an office space, lounge bar, restaurant, shop, or exhibition space.

On its website, EcoFloLife describes its mission as follows:

The world around us is becoming increasingly chaotic and conformist, requiring fully eco-friendly and recyclable housing units which allow us to live in complete independence and in harmony with nature while respecting and admiring it.

The ongoing climate changes and the resulting sea- and river-level rises force us to ponder on the eco-sustainability of our housing choices. EcoFloLife is committed on the topic of environmental sustainability with its floating and eco-friendly residential units.

The WaterNest 100 seems to embody that philosophy perfectly and is a truly inspired representation of what an environmentally friendly home of the future could look like.

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http://greenbuildingelements.com/2015/03/16/

Mortgage applications tumble 13.2% as rates climb | Katonah Real Estate

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Mortgage applications decreased 13.2% from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending February 13, 2015.

The Market Composite Index, a measure of mortgage loan application volume, decreased 13.2% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 12% compared with the previous week. The Refinance Index decreased 16% from the previous week. The seasonally adjusted Purchase Index decreased 7% from one week earlier. The unadjusted Purchase Index decreased 2% compared with the previous week and was 1% higher than the same week one year ago.

“Mortgage rates increased to their highest level since the beginning of the year last week, and application volume dropped sharply as a result, particularly for refinances. The market index declined to its lowest level since the week ending January 2nd as purchase application activity decreased seven% and refinance applications decreased 16%. Refinance volume fell particularly for larger loans, as evidenced by the decline of almost $25,000 in the average loan size for a refinance loan,” said Mike Fratantoni, MBA’s Chief Economist.

The refinance share of mortgage activity decreased to 66% of total applications from 69% the previous week. The adjustable-rate mortgage (ARM) share of activity decreased to 5.3% of total applications.

The FHA share of total applications increased to 15.2% this week from 14.1% last week. The VA share of total applications decreased to 8.0% this week from 8.3% last week. The USDA share of total applications increased to 0.9% from 0.7% last week.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) increased to 3.93% from 3.84%, with points increasing to 0.35 from 0.31 (including the origination fee) for 80% loan-to-value ratio (LTV) loans. The effective rate increased from last week.

The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $417,000) increased to 3.92% from 3.90%, with points increasing to 0.28 from 0.19 (including the origination fee) for 80% LTV loans. The effective rate increased from last week.

The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 3.73% from 3.72%, with points decreasing to 0.12 from 0.13 (including the origination fee) for 80% LTV loans. The effective rate remained unchanged from last week.

The average contract interest rate for 15-year fixed-rate mortgages increased to 3.24% from 3.15%, with points increasing to 0.35 from 0.29 (including the origination fee) for 80% LTV loans. The effective rate increased from last week.

 

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http://www.housingwire.com/articles/32970-mortgage-applications-tumble-132-as-rates-climb

Refis and purchases see big declines | #Katonah Real Estate

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A week after rising 1.3% and about four weeks after a 49% jump, mortgage applications decreased 9% from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending Feb. 6, 2015.

The Market Composite Index, a measure of mortgage loan application volume, decreased 9% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 7% compared with the previous week. The Refinance Index decreased 10% from the previous week.

The seasonally adjusted Purchase Index decreased 7% from one week earlier. The unadjusted Purchase Index decreased 1% compared with the previous week and was 1% higher than the same week one year ago.

The refinance share of mortgage activity decreased to 69% of total applications from 71% the previous week. The adjustable-rate mortgage share of activity increased to 5.7% of total applications.

The FHA share of total applications increased to 14.1% this week from 13.1% last week. The VA share of total applications decreased to 8.3% this week from 8.5% last week. The USDA share of total applications increased to 0.7% from 0.6% last week.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) increased to 3.84%, the highest level since Jan. 9, 2015, from 3.79%, with points increasing to 0.31 from 0.29 (including the origination fee) for 80% loan-to-value ratio (LTV) loans. The effective rate increased from last week.

The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $417,000) increased to 3.90% from 3.82%, with points decreasing to 0.19 from 0.22 (including the origination fee) for 80% LTV loans. The effective rate increased from last week.

The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 3.72% from 3.69%, with points increasing to 0.13 from 0.07 (including the origination fee) for 80% LTV loans. The effective rate increased from last week.

 

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http://www.housingwire.com/articles/32896-mortgage-applications-drop-a-hefty-9-after-strong-january-gains