Tag Archives: Katonah Luxury Real Estate

Gracious Old-School Southampton Equestrian Estate for $9.5M | Katonah Real Estate

 

437 North Sea Mecox Road Southampton
9 images

The price for this property, which includes the lovely c. 1913 house and about ten acres of land, has been all over the place, depending on whether an extra 12 acres of land was added. Originally it was listed at $11.45M back in 2011, then it was $19.5M in May 2012, when the additional land was included. By April 2013, the price was $16.75M with the extra land and $9.75M without it, then the price was increased to $9.95M by autumn. Now the ask is $9.5M.

So what do you get for your nine and half large? The main house, which is 5500sf and six bedrooms, needs some work. But there’s stabling and a tack house, a pretty pool and pool house, two ponds where the owners’ children used to skate in the winter, and 65 acres of conservation land to the west. What do you think the property will finally trade for?

 

read more…

 

http://hamptons.curbed.com/archives/2014/05/28/gracious_oldschool_southampton_equestrian_estate_for_95m.php

Government’s moves to ease mortgage credit are mostly for show | Katonah Real Estate

 

  • The regulator of Fannie Mae and Freddie Mac, Mel Watt, said he would not reduce home loan limits, as planned by his predecessor as director of the Federal Housing Finance Agency, Ed De Marco. Plus, in the most widely quoted promise in his speech at the Brookings Institution, Watt said he doesn’t believe his role is to “contract the footprint” of Fannie and Freddie. In other words, gradually shrink their roles or significance in the housing marketplace in preparation for their eventual total phase out by Congress.
  • Watt also announced that his agency will permit Fannie and Freddie to use “compensating factors” to accommodate loans from borrowers whose back-end debt-to income ratios exceed 43 percent. Compensating factors allow lenders to approve loans when applicants may have elevated DTIs but also have counter-balancing strengths, such as substantial financial reserves, high credit scores, among others.
  • FHA Commissioner Carol Galante announced a “blueprint for access” designed to lower the costs of obtaining an FHA mortgage for underserved borrowers. HUD Secretary Shaun Donovan called Galante’s plan, which would extend reductions in mortgage insurance fees to buyers who complete a counseling course, “a win for the market, FHA, lenders and borrowers.”

 

All that sounded upbeat and was heartily welcomed by groups such as NAR, the Mortgage Bankers Association and the home builders. It sounded like good news in a week that saw prospects for long-term reforms of Fannie Mae and Freddie Mac dim in a split vote by the Senate Banking Committee.

But how significant were these promises by Washington politicians and what will the changes really mean on the ground for real estate professionals and their clients? Much less than it all appeared to audiences eager to hear that credit standards finally are going to start loosening up for mortgage applicants.

 

 

read more…

 

 

http://www.inman.com/2014/05/20/governments-moves-to-ease-mortgage-credit-are-mostly-for-show/?utm_source=20140520&utm_medium=email&utm_campaign=dailyheadlinesam

30-Year Fixed Mortgage Rates Rise Slightly | Katonah Real Estate

 

Mortgage rates for 30-year fixed mortgages rose this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 4.10 percent, up from 4.08 percent at this same time last week.

The 30-year fixed mortgage rate hovered around 4.05 percent for the majority of the week before rising to the current rate on Monday.

“Rates continued on a downward path last week, reaching six-month lows before rebounding slightly,” said Erin Lantz, vice president of mortgages at Zillow. “This week, we expect rates to rise gradually and correct for what some market observers believe has been an overreaction to recent economic data and the situation in Ukraine.”

Additionally, the 15-year fixed mortgage rate this morning was 3.10 percent, and for 5/1 ARMs, the rate was 2.77 percent.

 

read more…

 

http://www.zillow.com/blog/30-year-fixed-mortgage-rates-rise-152060/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+ZillowBlog+%28Zillow+Blog%29

Marrying Past and Present in Los Angeles | Katonah Real Estate

 

When it comes to designing and building a house to sell on spec, the kitchen is important. Potential buyers need to be able to imagine themselves cooking, gathering and enjoying meals in the heart of the home.

While some developers might go for a blank-slate, all-white look, Sheryl Schey, a principal at White Picket Fence in Santa Monica, California, took chances, blending reclaimed boards, classic Shaker cabinetry, modern metallic tiles and a big dollop of deep blue in a recent Pacific Palisades project. The unique and harmonious mix of traditional and modern elements has an appeal that’s hard to resist, no matter what your favorite style is.

Kitchen at a Glance
Who lives here:
This speculative project was recently purchased by a young family with 2 children.
Location: Pacific Palisades neighborhood of Los Angeles
Size: About 360 square feet (34 square meters)

Local Farmers Markets | Katonah NY Real Estate

 

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Farmers Markets Open This Weekend with Music & Make Mom a Card Events
May 8-14th, 2014

DowntoEarthMarkets.com
Lettuce_MSP
What’s New, In Season, and On Sale This Week

Asparagus
Gajeski Produce
Newgate Farms

Baked German Goodies
Bienenstich, Mohnstreusel, Linzer,
and more

Christiane’s Backstube

Brioche Loaves
Perfect for French Toast on
Mother’s Day morning

Wave Hill Bread

Chocolate Explosions
Meredith’s Bread

Chutneys & Frozen Kofta, Rajma,
Roti Roll, Saag, & Samosa
SALE: $2 OFF order when you buy 4 or more items – use code 051014
Bombay Emerald Chutney Co.

Farm Egg Frittata
Enjoy on site at the market
Rockland Roots

Fiddleheads

Newgate Farms


Flowering Tuscan Kale
Gajeski Produce

FREE Cinnamon Roll for all kids,
aged 12 & younger

Orwashers Bakery

Gluten-Free & Regular Mother’s Day Cookies & Cupcakes
Meredith’s Bread

Goat Cheeses: Fresh Chevre, Greek-Style Feta, & Fresh Ricotta
Acorn Hill Farm

Grass-fed Beef Short Ribs
With Farmer Ground polenta – Enjoy on site at the market
Rockland Roots

Green Elephant Garlic
Gajeski Produce

Ground Beef: Buy five 1lb pkgs
& get $2 OFF per pound
(Reg $9.75/lb; now $7.75/lb)

Kiernan Farm


JUST CRUST Antioxidant Chips
& Croutons

SALE: $1 OFF (Reg. $5: now $4)

Wave Hill Breads

Mother’s Day Baskets
Includes apples, applesauce, jam
& fresh herbs

Mead Orchards

Mother’s Day Gift Boxes
Bombay Emerald Chutney Company

Olive & Roasted Red Pepper Ciabatta
Wave Hill Breads

Red Wine-Soaked Alfonso Olives
Pickle Licious

Ramps
Newgate Farms

Rhubarb
Newgate Farms


Rhubarb Almond Squares
Christiane’s Backstube

Spinach
Newgate Farms


Click on a Market to see all vendor and event details…

Westchester
County

Mamaroneck

Thank you
for a great winter season.
Starting this weekend, find many of your favorite vendors in Larchmont.


Rockland
County


Ossining

OPEN ALL YEAR AROUND
Saturdays
9:00 am-1:00 pm


Larchmont

OPENING DAY: MAY 10th
Saturdays
8:30 am-1:00 pm

Piermont

OPENING DAY: MAY 11th
Sundays
9:30 am-3:00 pm

L
Croton-on-Hudson

OPENING DAY: MAY 11th
Sundays
9:00 am-2:00 pm


Rye

OPENING DAY: MAY 11th
Sundays
8:30 am-2:00 pm

Spring Valley

Coming in July

Tarrytown/Sleepy Hollow

OPENING DAY: MAY 24th
Saturdays
8:30 am-1:00 pm


New Rochelle

OPENING DAY: JUNE 20th
Fridays
8:30 am-2:30 pm


Headed to the city soon?

Visit a Down to Earth
Farmers Market in NYC!

Announcements
Music & Make Mom a Card Events This Weekend

Calling all Moms and those of us who love you: Stop by our markets in Larchmont, Ossining, Rye, Croton-on-Hudson, and Piermont this weekend and Make Mom a Card. At Market Manager’s tent, you’ll find colored papers, markers, crayons, gluesticks, and more for artists of all ages. We’ll have great music at all these markets, too!
We’re excited to begin the 2014 season and look forward to seeing new and old friends.

Visit the Down to Earth Markets Calendar for full details.

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

Experts say Colorado homes selling within days in hot real estate market | Katonah Real Estate

 

Real estate and mortgage experts in Denver say houses across the state are selling in days, leaving few options for potential buyers to choose from.

Coldwell Banker Managing Broker Andy Sommer said metro Denver is a true hot market — attributable to job growth in the region and low supply — because those who already own likely refinanced and have a great rate and have no desire to leave.

“Many of our listings are sold within the first day and most of them with multiple offers,” said Sommer. “People are set. They’re financially sound, they don’t have to go anywhere and they are solid in their jobs.”

Jim Perkins, with First City Mortgage-Megastar Financial said northern Colorado is the same story.

“The most I’ve heard on one property was 16 offers on one house,” said Perkins.

For buyers who find something, experts say keep your eyes on it and make a move quickly, because if you don’t someone else will.

The most in-demand price range for buyers right now is anywhere in the $200,000 to $300,000 range — even up to $350,000.

If a home goes up for sale at that price and it’s priced right, experts said sellers are looking at an average of eight offers within two to three days.

 

read more…

http://www.thedenverchannel.com/news/local-news/experts-say-colorado-homes-selling-within-days-in-hot-real-estate-market04232014

What you can buy in the top 10 cities | Katonah Real Estate

 

If you’re looking to buy a home, Michigan might be a good place to start — and California might be a place to avoid.

The Midwestern state boasts three metropolitan areas in the top 10 for highest homeownership rates in the nation, according to a recent report by the National Association of Home Builders. The metro areas of Holland-Grand Haven, Bay City and Monroe all reported more than 77 percent homeownership, compared to the national average of 64.7 percent.

California, meanwhile, has six metro areas in the NAHB list of 10 places with the lowest homeownership rates.

“As one might expect, the homeownership rate is linked to affordability,” the NAHB report says. “In general, homeownership rates are higher when homes are more affordable. Eight of the top 10 metropolitan areas have median home values below the national median home value of $171,900.”

The NAHB calculated the homeownership rate by taking the total number of owner-occupied units divided by the total number of occupied units for a chosen geography. Occupied units can either be rented or owned, so a high homeownership rate implies a low renter rate.

Here’s a look at the 10 markets with the highest homeownership rates and what’s for sale there.

 

read more…

http://realestate.msn.com/what-you-can-buy-in-the-top-10-cities-for-homeownership

7 beautiful rooftop gardens | Katonah Real Estate

 

    Charlie Dresen, SteamboatsMyHome.com

Want to add value to your home? Plant a garden in the sky.

Rooftop gardens are quickly becoming one of the most popular ways to wow buyers and shore up the value of your home, real estate agents say.

Homes in big cities benefit the most from a rooftop garden, where homeowners sacrifice yard space for the urban experience. But even suburban homeowners are taking advantage of deck and roof space to grow gardens with an elevated view.

“It’s just such a luxury to have somewhere you can go that’s outside of your four walls,” said Leslie Piper, consumer housing specialist for the Realtor.com and a real estate agent. “Buyers really see it as something indulgent.”

That’s actually part of the reason why for a time interest in outdoor spaces like roof gardens had been withering. But as the housing market recovers, buyers’ appetites for these unique outdoor havens have returned.

When Realtor.com surveyed 1,000 buyers about what makes them fall in love with a home, outdoor living spaces came out on top, beating out their desire for open floor plans and curb appeal. About 51 percent of those surveyed said that outdoor space was the most attractive quality in a home.

“It’s certainly cropping back up as something that’s becoming more important to homeowners,” Piper said.

Buyers are specifically looking for outdoor fireplaces, wet bars and a lounge area for entertaining, as well as a place to grow their own fresh herbs and vegetables, she added.

Most of the amenities for an outdoor space can be added by the homeowner, so they tend to be a relatively inexpensive way to add value to a home.

“You can go online now and look at all these great resources that are out there, and in the past you didn’t know where to start,” Piper said. “That kind of access to ideas is really spurring these spaces.”

If you are looking for an attractive roof garden built in to a new home, check out these seven homes.

 

http://www.cbsnews.com/media/7-beautiful-rooftop-gardens/

 

Alternatives to Putting 20% Down on a Home | Katonah Real Estate

 

It’s a mantra often repeated in the real estate industry: If you want to buy a house, you need a 20 percent down payment. But with the average house in the U.S. costing $311,400 as of December 2013, according to the Census Bureau, all one has to do is the math to get a coronary. Raising a 20 percent down payment isn’t an easy thing to do.

Fortunately, you don’t have to. “It’s a myth that all homebuyers must have a 20 percent down payment to buy a home,” says Nancy Herrera-Siples, a Riverside, Calif., branch manager at Primary Residential Mortgage.

“Putting less than 20 percent is OK with most banks,” agrees Christopher Pepe, president of Pepe Real Estate in Brooklyn, N.Y. So why do you constantly hear that you need to put 20 percent down? Because if you don’t, it usually means you’ll have to shell out money for either private mortgage insurance or government insurance, which is usually financed by the Federal Housing Administration. Mortgage insurance protects the lender in case you can’t make your payments and the house is foreclosed on. But PMI payments don’t last forever. When your loan-to-value ratio is 80 percent, you can ask the lender if you can stop paying PMI; at 78 percent, the lender is required to cancel it.

Still, PMI can easily cost a couple hundred dollars a month, assuming your house is valued in the neighborhood of $200,000. Pepe says the average he sees is $700 a month just for PMI. But keep in mind that he’s based in New York City, which boasts one of the highest costs of living in the country.

So if you really want a house and you’re looking for alternatives to putting 20 percent down, here’s what you need to know.

Figure out financing before looking for a house. There are numerous programs that will help you buy a home without 20 percent down, says Dan Smith, president of Private Mortgage Solutions, a mortgage bank in Atlanta.

 

 

http://news.yahoo.com/alternatives-putting-20-down-home-124500838.html

Charges in connection with mortgage fraud | Katonah Real Estate

 

 

Government officials charged Poppi Metaxas, former president and CEO of Gateway Bank, in Oakland, Calif., with bank fraud, bank fraud conspiracy and perjury.

Christy Romero, Special Inspector General for the Troubled Asset Relief Program, Loretta Lynch, U.S. attorney for the Eastern District of New York, George Venizelos, assistant director-in-charge of the Federal Bureau of Investigation, New York Field Office and David Montoya, inspector general of the Department of Housing and Urban Development, Office of Inspector General announced that an indictment was unsealed Wednesday.

In 2009, SIGTARP said that Metaxas fraudulently caused Gateway to execute a sham “round trip” transaction in which the bank self-funded a down payment to make it appear that Gateway had sold toxic, non-performing mortgage loans.

According to the indictment, in February and March 2009, Metaxas allegedly engaged in a scheme to defraud Gateway in connection with Gateway’s sale of non-performing mortgage loans to three entities in exchange for $15 million.

“Metaxas allegedly orchestrated a fraudulent scheme to give the appearance that the bank was shoring up its finances by selling problem loans to outside investors,” Romero said.

“Metaxas purportedly hid from the bank’s board and regulator the fact that she, with the help of others, made a sham loan to those investors to fund in secret the 25% ‘down payment’ of $3.64 million, a loan that was later written off.  Crimes related to TARP will be investigated and prosecuted by SIGTARP and our law enforcement partners,” Romero added.

 

 

http://www.housingwire.com/articles/29546-former-ceo-allegedly-faked-toxic-mortgages-to-get-tarp-bailout