Tag Archives: Katonah Luxury Real Estate

Why 2013 Might be Housing’s Best Year Ever | Katonah NY Real Estate

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After nearly a decade of disaster that reached levels of despair not seen since the Great Depression., the year ending today was more than a turnaround year. Within its short life, it changed housing from a liability to an asset so favorable that it had to power to take the rest of the nation’s economy along for its ride upward, in the eyes of the Bernankes and Obamas.

In some ways, it changed the housing economy for years to come. Like a human life, it’s true place in history won’t be known until it is gone and some time has passed, but it will be hard to argue with the hard numbers of what was achieved in 2013.

Some examples:
◦ Home prices are rising faster than they have since the housing boom. The S&P/Case-Shiller index of property prices in 20 cities released today climbed 13.6 percent from October 2012, the biggest 12-month gain since February 2006, after a 13.3 percent increase in the year ended in September.
◦ Annual existing home sales should reach 5.1 million in 2013, the highest total in seven years, according to NAR. That is 10 percent higher than 2012’s total of almost 4.7 million.
◦ New home sales are on pace to reach 435,100 new homes sold this year, the most since 2008, according to Bloomberg. In November, purchases of new U.S. homes exceeded projections, holding near a five-year high and showing the housing recovery was gaining momentum even as mortgage rates climbed.
◦ Through the third quarter of 2013. more than 3 million homeowners returned to positive equity and homeowner equity increased by $33 billion. Some 7.1 million homes, or 14.5 percent of all residential properties with a mortgage, were still in negative equity at the end of the second quarter of 2013. This figure is down from 9.6 million homes, or 19.7 percent of all residential properties with a mortgage, at the end of the first quarter of 2013, according to CoreLogic.
◦ By the end of October, homeowners in 55 of the nation’s 100 largest markets have now recovered more than half of the equity they lost in the housing crash. Of the 84 all markets that achieved more than a 100 percent rebound in November, 58 were midsize. Additionally, 58 midsize markets (28% of the U.S. midsized markets) now have fully recovered prices.
◦ Mortgage rates rose about one full point during the year, which made buying a home more expensive for many. But at long last lending standards have begun to loosen up, perhaps because many originators are shifting from refinancing to purchase loans. Median FICO scores, for example, were at 729 in November, down from 750 in November 2012. Closing rates were 53.1% compared to 52.3% in 2012.

http://www.realestateeconomywatch.com/2013/12/why-2013-might-be-housing%e2%80%99s-best-year-ever/

Down to Earth Farmers Market | Katonah NY Homes

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Bigger and Better Than Ever:
Mamaroneck’s Winter Down to Earth Farmers Market
Opens Saturday, January 4th, 2014

Every Saturday into May
9:00 am-1:00 pm

Indoors at St. Thomas Episcopal Church
168 West Boston Post Road (at Mount Pleasant Avenue)

Down to Earth Markets is thrilled to announce that Mamaroneck’s Winter Farmers Market keeps growing!

For the 2014 season, help us welcome the largest variety of vendors yet. All winter long, local farmers and food makers will bring seasonal produce, pasture-raised meats and poultry, fresh fish, delicious breads, pickles, savory yogurt, Middle Eastern specialties, pies, pastas, locally-roasted nuts and coffees, and MORE.

On Opening Day, Saturday, January 4th, you’ll find:

American Pride Seafood

Dr. Pickle

Gaia’s Breath Farm

Gajeski Produce

Meredith’s Bread

Orchards of Concklin

Orwarshers Bakery
(Opening Day Special: FREE baguette with purchase of any bread loaf! Reg = $3.50)

Pie Lady & Son

Sohha Savory Yogurt

Stone & Thistle Farm

Taiim Falafel

Tierra Farm

Trotta Foods

Wave Hill Breads

Later in this month, these talented vendors will be joined by:

Bombay Emerald Chutney Company

Calcutta Kitchens

Flourish Baking Company

Kontoulis Family Olive Oil

Mortgage Apple Cakes

Robinson & Co. Catering Services (Fine British pies and more)

And others!

Stay tuned to all market events, day vendor listings, and more
on the Mamaroneck market webpage.

Thank you for supporting local farms and food businesses.

Down to Earth Farmers Markets is a mission-driven company that curates and manages approximately twenty farmers markets in Westchester and Rockland Counties, as well as in New York City. We envision a strong regional food system, built by independent farms and food businesses, that provides everyone with an alternative to industrial food. We believe that seasonal, local food is a vital part of our heritage that ensures the health of our communities and environment.

Home sales leveling off | Katonah NY Real Estate

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The number of Americans who signed contracts to buy existing homes in November
was essentially unchanged from October, suggesting sales are stabilizing after
several months of declines.

The National Association of Realtors said
Monday that its seasonally adjusted pending home sales index ticked up to 101.7
from 101.5 in October. The October figure was revised lower from an initial
reading of 102.1.

Higher mortgage rates and strong price gains over the
past two years have slowed sales. The pending home sales index had fallen for
five straight months before November. And completed sales of existing homes fell
for three straight months, the Realtors said earlier this month. There is
generally a one- to two-month lag between a signed contract and a completed
sale.

“Bottom line, it’s clear that the rise in mortgage rates slowed
the pace of improvement in the housing market in addition to double digit price
increases and tough lending standards, which have put a pause particularly on
those buying a home with a mortgage,” said Peter Boockvar, chief market analyst
with The Lindsey Group, in a research note.

The average interest rate on
a 30-year mortgage edged higher to 4.48 percent last week, from 4.47 percent the
previous week. Rates jumped about 1.25 percentage points from May through
September, peaking at 4.6 percent.

 

 

http://www.cbsnews.com/news/home-sales-leveling-off/

Combined Value of US Homes to Top $25 Trillion in 2013 | Katonah NY Real Estate

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Total Value 2013

If you wanted to buy every single home in the country, all at once, you’d need to be prepared to spend more than $25 trillion, according to Zillow.

The overall cumulative value of all homes in the U.S. at the end of 2013 is expected to be approximately $25.7 trillion, up almost $1.9 trillion, or 7.9 percent, from the end of 2012. Gains were calculated by measuring the difference between cumulative home values as of the end of 2012 and anticipated cumulative home values at the end of 2013.

The gain in cumulative home values is the second annual gain in a row, after home values fell every year from 2007 through 2011. Between 2007 and 2011, the total value of the U.S. housing stock fell by $6.3 trillion. Over the past two years, U.S. homes have gained back $2.8 trillion, or about 44 percent of the total value lost during the recession.

“In 2013, the housing market continued to build on the positive momentum that began in 2012, after the housing market bottomed. Low mortgage rates and an improving economy helped bring buyers into the market, boosting demand and driving prices up,” said Zillow Chief Economist Stan Humphries. “We expect these gains to continue into next year, though at a slower pace. The housing market is transitioning away from the robust bounce off the bottom we’ve been seeing, toward a more sustainable, healthier market. This will result in annual appreciation closer to historic norms of between 3 percent and 5 percent.”

Real estate in the United States is hugely valuable. The $25.7 trillion total value of the country’s entire housing stock is more than the combined gross domestic products (GDP) of China and the U.S. in 2012. Homes in the New York and Los Angeles markets alone account for more than $4 trillion in combined value.

The chart below shows how much the total housing stock in each of the country’s 30 largest metros is expected to be worth at the end of this year.

METROProjected Value, All Homes Year-End 2013Projected Home Value Gain/(Loss) 2013Home Value Gain/(Loss) 2012
United States$25.7 trillion$1.89 trillion$885 billion
New York, NY$1.9 trillion$123.1 billion($3.5 billion)
Los Angeles, CA$2.2 trillion$323.1 billion$117.8 billion
Chicago, IL$687.5 billion$58.6 billion($8 billion)
Dallas-Fort Worth, TX$339.5 billion$18.7 billion$17.8 billion
Philadelphia, PA$540.5 billion$19.5 billion($6.7 billion)
Houston, TX$307.2 billion$18.7 billion$6.4 billion
Washington, DC$890.3 billion$64.5 billion$26.1 billion
Miami-Fort Lauderdale, FL$646.8 billion$83.3 billion$49.5 billion
Atlanta, GA$332 billion$39.1 billion$869.5 million
Boston, MA$568.5 billion$45.6 billion$20.1 billion
San Francisco, CA$987.2 billion$159.2 billion$87.7 billion
Detroit, MI$247.2 billion$33.5 billion$19.6 billion
Riverside, CA$370.1 billion$71.5 billion$20.1 billion
Phoenix, AZ$383.5 billion$36.1 billion$59.6 billion
Seattle, WA$427.8 billion$43.6 billion$22.7 billion
Minneapolis-St Paul, MN$281.4 billion$25.4 billion$18 billion
San Diego, CA$507.5 billion$71.5 billion$32 billion
St. Louis, MO$170.5 billion$2.4 billion$4.6 billion
Tampa, FL$204.5 billion$25.7 billion$10.2 billion
Baltimore, MD$302.7 billion$14.5 billion$2.4 billion
Denver, CO$265.1 billion$21.9 billion$18.6 billion
Pittsburgh, PA$131.2 billion$6.6 billion$2.8 billion
Portland, OR$216.7 billion$22.8 billion$10.1 billion
Sacramento, CA$236.9 billion$40.7 billion$16.4 billion
San Antonio, TX$107 billion$1.9 billion($3.5 billion)
Orlando, FL$149 billion$21.3 billion$8.7 billion
Cincinnati, OH$115.7 billion$5.7 billion$420.5 million
Cleveland, OH$105.4 billion$3.3 billion$942.1 million
Kansas City, MO$115.6 billion$2 billion$1.9 billion
Las Vegas, NV$146.7 billion$31.4 billion$10.8 billion

Blue is the new cool kid on the backsplash block | Katonah NY Real Estate

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Continuing our series on colorful backsplashes, we turn to blue. Blue kitchens are, er, red hot right now. After years of our being advised to not use blue in a kitchen (it’s thought to be appetite suppressing), cool shades of the color are showing up more and more in kitchen tools, accessories and, yes, backsplash materials. Here’s a small glimpse at some of the many blue backsplash options, along with a few tips for working the color into your own kitchen.

One of my favorite kitchen color trends is a palette consisting of black, white and shades of gray and watery blues. The blue glass subway tile backsplash here adds just the right punch of color. Mix in a wooden or natural cork floor for added warmth and texture.
Backsplash: 3- by 6-inch glass subway tiles in Frosted Ocean Grey from The Five Elements
Cobalt blue becomes fashionable every 15 years or so and is currently enjoying an upswing in popularity. But I would never advocate using a color for your backsplash just because it’s trending, as the expense and hassle of changing it once the trend passes is much too great. So if you aren’t sure you’d want this color in your kitchen for very long, paint it on a wall instead. It’ll be much easier (not to mention affordable) to swap out down the road.
If you truly love this color — ever-changing color trends aside — and want to use it for a backsplash, I say go for it. It’s close enough to the indigo color of blue jeans, which we are used to seeing accessorized with any and every color, that it functions as a neutral, giving you flexibility with the palette.
Backsplash: Classic field tile in Opal Blue from Heath Ceramics
It’s tough to compete for attention with this fantastic range, vent hood and stone arch but, boy, the backsplash sure does a good job of it. These beautiful Moroccan blue tiles are hand made in Casablanca. You can mix and match the patterns to create a unique backsplash in your own kitchen.
Backsplash: 4-inch square Fez tiles from Moorish Architectural Design
Navy blue is an elegant, dramatic backsplash color choice. It looks superb when paired with medium to dark wood tones as well as shades of orange, its complementary hue on the color wheel. Backsplash: 2- by 8-inch Debris Series field tile in Navy Gloss from Fireclay.

IMF sees risk in Israel’s housing marke | Katonah NY Homes

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Israel’s low interest rate environment has the danger of further boosting housing prices, the International Monetary Fund said Monday, but the possibility of a quick adjustment in prices is also worrying.

In the concluding statement of its annual consultation, the IMF said that Israel was conducting proper monetary policy given the strength of the shekel and the global environment. “The low interest rate environment could, however, fuel further house price increases,” the report said.

“If house prices continue to rise, macroprudential measures, notably those which directly restrict the size and risk of mortgages, should be further tightened.” The IMF also recommended increasing property purchase tax for non-primary residences temporarily and, crucially, taking measures to boost the supply of housing, “including by implementing the recommendations of the Housing Committee.”

Despite the difficulties posed by the increased prices, however, the IMF also noted that a crash of prices posed an economic risk to Israel.

“A correction in the housing market and the associated feedback loops could undermine banks’ asset quality and profitability, and pose financial stability risks, the report said. “Despite progress in addressing concentration, risks concerning the financial viability of some large highly-leveraged corporates (holding companies and real estate and construction firms in particular) remain.”

All in all, the IMF mission found Israel’s economy to be growing moderately, projecting 2014 growth to fall somewhat to 3¼. The greatest risks posed to the economy are external – sluggish growth in the United States and Europe mean less demand for Israeli products abroad.

 

 

http://www.jpost.com/Business/Business-Features/IMF-sees-risk-in-Israels-housing-market-335150

HUGE NEWS: Websites soon to end in .mortgage or .home | Katonah NY Realtor

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Imagine coming to this website by simply typing “housing.wire” into your web address bar.

That’s right, no “.com” necessary.

This hugely flexible option for online businesses — as well as other, brand-specific URL endings — is one step closer to reality.

The Internet Corporation for Assigned Names and Numbers recently released more than a thousand potential URL suffixes, a vast increase in the 22 currently in use.

According to law firm Ballard Spahr, which broke the news in its Privacy and Data Security and Intellectual Property Alert, website domain names will start looking dramatically different.

These listings are the first wave of ICANN new generic top-level domain names, or gTLDs, as they are more commonly referred to. Some are already online, and the mortgage-type listings will be available in a matter of months.There is no specific timetable.

“What it means to the mortgage banking industry is they also need to consider their internet security, as well as their trademarks and whether or not they need to defensively register,” said Amy Mushahwar, privacy and data security cousel for Ballard Spahr. “Any internal naming architecture, internal email server with .loans for example, could also create a conflict. They need to take a peek and not only see any names worth registering, but whether any of the thousands of new names could impact their existing digital structure.”

In response to a request from HousingWire, Ballard Spahr pulled a list of housing and banking potential substitutes for .com or .org.

Those examples include, but are not limited to:

.BROKER .CREDIT .CREDITUNION .FINANCE .FINANCIAL .HOME .HOMES .INVESTMENTS .LAND .LEASE .LOAN .LOANS .MORTGAGE .REALESTATE .REALTOR .REALTY

There are also many brand strings available, below are a few examples: .BBT .CAPITALONE .CITI .HSBC Ballard Spahr said it plans to complete a more comprehensive list of potential URL endings in the near term. Companies, and no doubt there will be plenty, looking to cash in on this new option should be warned, however, as risks include adding to consumer confusion.

And that’s not all.

“Issues arising from the complexity of Domain Name System (DNS) expansion, if not fully resolved, could pose security risks and potentially destabilize global Internet operations,” the Ballard Spahr alert stated.

 

 

 

http://www.housingwire.com/blogs/1-rewired/post/28286-huge-news-websites-soon-to-end-in-mortgage-or-home