Your student loan is killing the housing market | Katonah Real Estate
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Tag Archives: Katonah Homes for Sale
Bedford Town Board Opts Not To Object To Proposed Katonah Group Home | Katonah Homes
Following a legal opinion from Bedford’s counsel, the Town Board approved countersigning an agreement of assurances from the provider of a proposed Katonah group home instead of making an objection to it.
The unanimous vote on Monday, Sept. 29, came following a review from Town Attorney Joel Sachs of state case law and correspondences from provider Cardinal McCloskey Community Services giving assurances for its plan. A letter from CMCS, dated Sept. 29, includes a signature from Chief Operating Officer William Ursillo and space for a town signatory.
Sachs explained that if the supervisor were to countersign, then the letter would be a legally binding agreement. The board’s approval was for Supervisor Chris Burdick to give his signature.
Ursillo, in his letter, mentions that the assurances are applicable if there is no objection filed and if there is no litigation that would seek to stop or delay the facility’s opening or closing on the property. Sachs also noted that the assurances would not be binding if there is an objection.
read more….
http://bedford.dailyvoice.com/news/bedford-town-board-opts-not-object-proposed-katonah-group-home
Trump executive allegedly drugged rival in GM Building bid | Katonah Real Estate
The GM Building and Donald Trump The General Motors Building on Fifth Avenue and 58th Street — one of the priciest office buildings in America – has had its share of landlords over the years from Bill Zeckendorf to Harry Macklowe. But according to a new book, Donald Trump was its most notorious. When Donald Trump was in the midst of negotiations for the building, his head of acquisitions, Abe Wallach, allegedly drugged a rival with sleeping pills on a flight. While the man was out, Wallach went through the man’s valise in search of sensitive documents, Vicky Ward told the New York Post. Ward’s new book “The Liar’s Ball: The Extraordinary Saga of How One Building Broke the World’s Toughest Tycoons,” chronicles the history of the building. Wallach told Ward that at the time he worried that he gave his rival too big a dose and that his victim might die. “This is an exposé of the kill-or-be-killed world of these real-estate tycoons — the dark side of capitalism,” Ward told the Post
– See more at: http://therealdeal.com/blog/2014/09/27/trump-executive-allegedly-drugged-rival-in-gm-building-bid/?utm_source=The+Real+Deal+E-Lerts&utm_campaign=0c8e81f94d-New_York_Daily_Updates_9_29_14&utm_medium=email&utm_term=0_6e806bb87a-0c8e81f94d-385733629#sthash.yGwA5dv9.dpuf
Navigating the NYC real estate market | Katonah Real Estate
Choosing a home in a hot New York City real estate market can be daunting. With the market being so high, should you rent or buy?
We turned to licensed broker Daniel Nassi for some help. He said inventory is out there, so it “really comes down to whether you have the money or not.” Nassi said mortgage rates are comparatively low, which could make buying a better investment than renting. But if you need financing, you may be at a disadvantage. A number of cash buyers are in this market and they have a leg up.
“When you’re a seller and you have somebody who comes in, for instance, as a cash buyer you don’t have to worry if they’re going to be able to close,” Nassi said. “When you have somebody who has financing they don’t have as much leverage as someone who does not.”
As for rents, prices are high and aren’t moving. Douglas Elliman’s monthly report breaks down rents throughout the city. The median in northwest Queens is about $2,700, Brooklyn just over $2,800, and Manhattan gets an average of $3,175.
Nassi showed us a one-bedroom apartment in his building at 220 Park Avenue. 650 square feet will go for $3,500 to $3,600.
“If you rent, you might be spending more money than if you buy,” said Jennifer Gould Keil, the celebrity real estate columnist for the New York Post. She said whether you’re renting of buying the best deals are in Midtown West and the Upper East Side.
“The surprising thing is that areas like the Upper East Side, that were once so incredibly expensive, are now places where you can get the best deals in town,” she said. “And places that are up and coming in Brooklyn might be a little bit overpriced.”
Do your homework, get to know the neighborhood, and visit it at all times of day.
“We talk to some police officers who were saying they couldn’t believe that brokers will schedule open houses on a Monday morning in an up-and-coming neighborhood where things look wonderful, and buyers or potential buyers don’t know that there are shootings at 3 a.m. on Saturdays.”
New Yorkers we spoke with watch the market closely.
“Owning is always good, real estate always goes up so owning would be good for anybody,” Romain Singh said.
“When I bought my property it was many years ago, so it was so much cheaper, but now the prices has escalated that it’s impossible to buy,” Cleonie Sinclair said.
The real estate market does tend to slow down in the fall, especially around the holidays. You may have fewer options, but it could be a good time to negotiation.
read more…
http://www.myfoxny.com/story/26620516/navigating-the-nyc-real-estate-market
Katonah-Lewisboro Schools Superintendent Search Gets Under Way | Katonah Real Estate
Representatives from the firm hired to find a new Katonah-Lewisboro schools superintendent gave an overview of the search, which will involve a mix of confidentiality for candidates and public events.
The representatives, John Chambers and Deborah Raizes, are from Hazard, Young, Attea Associates. Chambers, whose resume includes having served as superintendent for the Bronxville and Byram Hills school districts, also brought up his 10 years of serving as a John Jay High school principal. Raizes’ resume includes having served as as a Scarsdale school board member, including time as president.
Raizes and Chambers, who gave a presentation at the school board’s Sept. 15 meeting, outlined the superintendent-search process.
Public participation will include a series of focus groups, which will be held on Sept. 29, Sept. 30, Oct. 3 and Oct. 7. The first focus group is scheduled for 7:30 p.m. at the high school library, while the second is set for 10 a.m. at the high school auditorium. Additionally, an online survey has been posted and will run until Oct. 3.
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http://bedford.dailyvoice.com/schools/katonah-lewisboro-schools-superintendent-search-gets-under-way
The Kitchen Storage Space That Hides at Floor Level | Katonah Homes
Existing home sales rise at fastest pace in 10 months | Katonah Real Estate
Americans resold their homes in July at the fastest pace in almost a year, a sign the housing market was gaining steam again after a year-long slump.
The National Association of Realtors said on Thursday existing home sales increased 2.4 percent to an annual rate of 5.15 million units.
That was above analysts’ expectations and marked the fourth straight month the pace of home resales accelerated.
Home resales dropped in the summer of 2013 after the Federal Reserve signaled it would dial back its monetary stimulus for the economy, pushing mortgage interest rates higher.
The Fed, however, ended up keeping a bond-buying program running at full throttle for longer than investors expected, and mortgage rates edged lower again. This, coupled with robust job growth this year, helped push home resales in July to their highest level since September 2013.
Distressed sales, which include foreclosures and short sales, made up only 9 percent of sales last month, the lowest share since the NAR starting tracking this information in October 2008.
read more…
http://news.yahoo.com/u-existing-home-sales-rise-fastest-pace-10-140345767–business.html
How hard is it to get a mortgage? | Katonah Real Estate
Yes. And no. And mostly yes again. And maybe it should be.
And since January 10 when the CFPB’s Qualified Mortgage rule took effect, it is definitely harder. So yes.
But there’s more to the story than that, and it doesn’t mean only Patsy Pays Perfect can qualify anymore.
The Qualified Mortgage rule has definitely put the squeeze on would-be homebuyers seeking a mortgage. People with lower income, the self-employed, those with credit scores on the margin, and people whose income comes from tips, bonuses or other harder to document sources are definitely being are all facing an uphill battle.
Industry analysts say that anywhere from 10% on the low side to 20% on the high side of people who have a mortgage now would not qualify for a mortgage under today’s rules.
But the rules and standards for getting a mortgage were already tightening long before the CFPB put their screws to it. In fact, the industry had largely self-corrected – as if it had a choice – long before Washington put it in ink with heightened documentation and tighter standards.
Mortgage applications, the first step in the mortgage process, have been down this year almost consistently.
read more…
http://www.housingwire.com/blogs/1-rewired/post/31082-how-hard-is-it-to-get-a-mortgage
Weak Home Sales, Falling House Prices | Katonah Real Estate
Followers of the housing market got spooked a couple weeks ago by some data suggesting the market was in trouble. First, the recent pending home sales data from the National Association of Realtors showed a 1.1% decline, when economists had forecast a 0.5% increase. Second, the S&P Case-Shiller 20-city house price index declined 0.3% on a monthly basis, when economists had predicted a 0.4% increase. Is it game over for the U.S. housing market?
U.S. housing affordability and homeowner vacancy rates
There’s no doubt that the housing market has slowed from the strong growth it saw in 2013, but that doesn’t mean it’s about to crash. On the contrary, there are four key reasons the market is likely to improve.
First, despite the talk that rising mortgage rates will choke off demand, housing still remains relatively affordable. Take a look at the National Association of Home Builders/Wells Fargo housing opportunity index — the higher the number, the more affordable housing is.
Source: NAHB/Wells Fargo.
Affordability fell in the second half of 2013, but on a historical basis, it’s still supportive of good growth in the housing market. Readers can see that, according to the index, housing is more affordable than it was for most of the 1992-2009 period.
Second, homeowner and rental vacancy rates suggest that the number of houses and rentals available is shrinking. Vacancy rates simply refer to the percentage of properties which are unoccupied. A look at the data from the U.S. Census Bureau demonstrates that rental vacancy rates are falling sharply, while homeowner vacancy rates remain low. The lower the number, the fewer properties there are available to rent or buy
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http://www.fool.com/investing/general/2014/08/11/weak-home-sales-falling-house-prices-game-over-for.aspx
Tread Lightly Around the Rickety Homes of Wilderness Dwellers | Katonah Real Estate
Photo by Antoine Bruy via Art the System
From 2010 to 2013, French photographer Antoine Bruy spent his life threading through the remotest regions of Europe, capturing the daily existence of the ultimate in civilization-eschewing people. His Scrublands series tells the stories of individuals and families whose extreme brand of self-reliance translates to, among other things, the most rudimentary and ramshackle of homes—think “The Burrow” from Harry Potter, but without all the magical bits holding it together.
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http://curbed.com/archives/2014/08/04/houses-wilderness-people.php