Tag Archives: Katonah NY Real Estate

Katonah NY Real Estate

The Inflation Data Are Pointing To Another Housing Bubble | Katonah Real Estate

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t’s easy to spot a Fed-sponsored housing bubble if you look in the right places. The best place to start is an analysis of price inflation as measured by the BLS as compared to a CPI-variant that takes actual housing prices into consideration instead of rent.

This is a followup to my post Dissecting the Fed-Sponsored Housing Bubble; HPI-CPI Revisited; Real Housing Prices; Price Inflation Higher than Fed Admits.

Data for the following charts is courtesy of Lender Processing Services (LPS), Specifically the LPS Home Price Index (HPI).

The charts were produced by Doug Short at Advisor Perspectives. Anecdotes on the charts in light blue are by me.

Background

The CPI does not track home prices per se, rather the CPI uses a concept called “Owners’ Equivalent Rent” (OER) as a proxy for home prices.

The BLS determines OER from a measure of actual rental prices and also by asking homeowners the question “If someone were to rent your home today, how much do you think it would rent for monthly, unfurnished and without utilities?”

If you find that preposterous, I am sure you are not the only one. Regardless, rental prices are simply not a valid measure of home prices.

OER Weighting in CPI

CPI categories

Mish Shedlock

OER is now at 24.041% of CPI, which still rounds to 24.0%, but the other housing wedge is now an even 17.0%, down from 17.1% in the previous version.

 

The rest of the charts show various effects if one substitutes actual home prices as measured by the HPI in the data.

Two Inflation Indexes 

CPI with HPI substitute for OER and FFR

Mish Shedlock

click on any chart for sharper image

As measured by the CPI, price inflation is 1.47% annualized. As measured by HPI-substitution, price inflation is a much higher 3.33%. The Fed would have you believe everything is under control. Of course they said the same thing in 2005.

Read more: http://globaleconomicanalysis.blogspot.com/2013/05/hugely-negative-real-interest-rates.html#ixzz2SnQBfapO

Charlotte housing market gains momentum | Katonah NY Real Estate

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CoreLogic, an Irvine, Calif.-based company that provides monthly reports on housing prices, said Charlotte rose 7% in the Charlotte-Gastonia-Rock Hill area in March from the same month a year ago.

Also, the Charlotte Regional Realtor Association reported that Charlotte-area home prices increased by 1.1% on average in April from the same month last year, as inventory continues to dwindle.

According to the preliminary data from the association, the average sales price in April rose to $217,166 from $214,739 in April 2012. The number of sales increased 34% year-over-year, to 2,915 from 2,168, writes the Charlotte Observer.

 

 

http://www.housingwire.com/fastnews

NY losing all its old churches | Katonah NY Real Estate

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Neighbors and parishioners of an East Village church are steaming mad over a developer’s plans to demolish the 96-year-old building for market-rate apartments — and it’s just one of many historic holy houses in need of divine intervention.

Douglas Steiner, head of the Brooklyn Navy Yard’s Steiner Studios, bought Mary Help of Christians on East 12th Street for $41 million in November. Now he has permits to raze the sacred site, which includes a rectory, school and parking lot, for residential property with ground-floor retail.

But preservationists say the Roman Catholic church can be saved.

Mary Help of Christians, built in 1917 in the East Village, will be razed for residential.

Helayne Seidman
Mary Help of Christians, built in 1917 in the East Village, will be razed for residential.
The Church of the Redeemer, built in 1866 in Boerum Hill, may face the wrecking ball.

J.C. Rice
The Church of the Redeemer, built in 1866 in Boerum Hill, may face the wrecking ball.

“This is heartbreaking,” said Andrew Berman, executive director of the Greenwich Village Society for Historic Preservation. “We hope [Steiner] can see the light and realize it’s advantageous to use something that’s special rather than demolishing it for something that’s a dime a dozen.”

The church closed in September as part of the Archdiocese’s plan to shut down 21 parishes due to declining attendance.

Nicholas Serracino, the Archdiocese’s chief architect at the time, styled the Italian Renaissance Revival church after Italy’s Basilica of Mary Help of Christians.

Also likely condemned to the wrecking ball is the 140-year-old St. Vincent de Paul on West 23rd Street in Chelsea.

The church’s former pastor, the Rev. Gerald Murray, told The Post the Archdiocese plans to sell the building, which was given a Classical Revival limestone façade in 1939.

In Soho, the century-old Our Lady of Vilnius is on the market for $13 million — more than a year after parishioners lost a lawsuit against the Archdiocese to stop the Romanesque Revival church’s demolition.

Boerum Hill locals have so far delayed the demise of Church of the Redeemer, which was rumored to be knocked down for a new residential building and church hybrid.

The 150-year-old Gothic Revival building closed last summer because it is structurally unsound. A spokesman for the Episcopal Diocese of Long Island, which owns the property, says church officials are still weighing their options for the site.

Meanwhile, Harlem residents are bristling at the partial demolition of St. Thomas the Apostle, a 106-year-old Roman Catholic parish on West 118th Street. The Gothic Revival church was first established for Irish immigrants.

Still, miracles do happen. St. Brigid’s Church in the East Village was spared the wrecking ball in 2008 after an anonymous $20 million donation. It reopened in January

 

 

 

http://www.nypost.com/p/news/local

21 Awesome Social Media Facts, Figures and Statistics for 2013 | Katonah Realtor

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Social media networks were a novelty 5 years ago and today they are no longer debated around the dinner party table.21 Awesome Social Media Facts Figures and Statistics for 2013

The conversation has moved on.

Facebook is now part of most people’s web lives, Twitter is where a lot of people are reading the breaking news and if you want to be entertained then just dial into YouTube.

Despite it’s minimal mindshare, media profile and awareness Google+ has woven its way into our consciousness and is now the second largest social network.

As if these social networks aren’t enough to distract us. We also now have Pinterest and Instagram to add to the online temptations.

The social web is the modern version of Alice in Wonderland, where we are following not one but many rabbits down innumerable rabbit holes.

What are 2 key factors driving the social web in 2013?

According to a Global Web Index study it is:

  • Mobile – with the number of people accessing the internet via a mobile phone increasing by 60.3% to 818.4 million in the last 2 years.
  • Older users adoption – On Twitter the 55-64 year age bracket is the fastest growing demographic with 79% growth rate since 2012. The fastest growing demographic on Facebook’s and Google+’s networks are the 45 to 54 year age bracket at 46% and 56% respectively.

These 2 key factors are keeping the social web bubbling along. So maybe the reason your grandparents aren’t turning up to that dinner party is that they have now discovered Facebook and Twitter!

So let’s look at some of the facts, figures and statistics for the major social networks.

Facebook

Facebook continues to grow and work out how to make money from its ads and mobile users.

Here are the latest facts and figures from its earnings call for the first quarter of 2013

  • Daily active users have reached 665 million
  • Monthly active users have passed 1.1 billion for the first time
  • 751 million mobile users access Facebook every month
  • Mobile only active users total 189 million
  • Mobile now generates 30% of its ad revenue up from 23% at the end of 2012

Twitter

Twitter is the fastest growing social network in the world by active users according to a Global Web Index Study.

So how does that translate to hard numbers?

  • 44% growth from  June 2012 to March 2013
  • 288 million monthly active users
  • That means that 21% of the world’s internet population are using Twitter every month
  • Over 500 million registered accounts
  • Twitter’s fastest growing age demographic is 55 to 64 year olds, registering an increase in active users of 79%

YouTube

When you wanted to watch a video it used to be VCR, then it became a  DVD player, then we moved onto cable networks and now it is YouTube.

These numbers from YouTube’s own blog put some perspective on it penetration into our culture and time.

  • 1 billion unique monthly visitors
  • 6 billion hours of videos are watched every month
  • This means that 50% more hours of video are watched in March 2013 compared to last August when it was 4 billion hours a month and last May when it was 3 billion.
  • YouTube reaches more U.S. adults ages 18-34 than any cable network

Google+

Google+ is making an impact on the social media universe and is now the second largest social network.

What are some of the numbers on Google’s social network built to protect it from Facebook’s growth and data capture to ensure it remains relevant?

It is Google’s social layer that enhances it’s other online assets.

  • 359 million monthly active users according to a Global Web Index study
  • Its active users base grew by 33% from June 2012 through to March 2013

Read more at http://www.jeffbullas.com/2013/05/06/21-awesome-social-media-facts-figures-and-statistics-for-2013/#CGOd5JjuSK3Tv0BD.99

Turn Passion into Brand Evangelism | Katonah NY Real Estate

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Turn Passion Into Brand Evangelism

I pinched myself when I was recently invited by the Tampa Bay Lightning to be the Social Captain for a game. The opportunity for me to combine my love of hockey and my favorite NHL team with social media is up there with a day at the beach.

The Tampa Bay Lightning hockey club anoints a Social Captain for each game. The social captain is a fan that is asked to share their social media chops with their friends before and during a game. The fan is provided entry into the game, given a behind-the-scenes tour prior to the game, meeting some VIPs along the way and is provided prizes and give aways to promote during the game through Twitter, Instagram and Facebook. Fans in attendance follow along through hasthtags such as #TBLightning, #BoltsSocial and #LightningStrikes. I got to meet Dave Andreychuk, the captain of the Lightning in 2004, when they won the Stanley Cup (featured in the image above). That was a huge thrill for me!

Harness The Influence of Passionate Fans

The Social Captain is a fan. There is no monetary compensation to the fan. The compensation is an awesome fan experience along with some exposure to the fan base. I must admit that I prepped for the experience by studying the website and Twitter stream to be prepared for questions from other fans. It’s almost as if I considered myself an employee representing the brand, even if for just one game. I truly wanted to be capable of representing the brand well…Imagine how powerful it would be to have customers with this much passion for your brand eagerly desiring to evangelize your brand?

Social Captain In Other Industries

This experience inspired me to imagine how a social business might apply the Social Captain concept in other industries outside the sports industry. Consider applying this concept in these possible ways:

Social Captain in Manufacturing

Find a customer who has demonstrated loyalty and passion for your product. Offer to shoot a video of your customer using your product in his or her natural setting. Allow the customer to be totally authentic in telling their story. Don’t script it. Alternatively, provide one of your products as a gift or loaner and invite the customer to tell their story experience on their own through their social channels.

Social Captain in Retail

Select one or more employees who embody your brand. Empower the employee to capture their experience serving customers through photos, video, tweeting and live blogging. If possible, provide a writer who can create live blog content accompanied by video. Run this program on a weekly or monthly basis with consistently used hashtags and don’t be surprised to see employees competing for their chance to be your social captain brand ambassador.

Social Captain in Services

There are many possibilities for a Social Captain in a services businesses depending on whether your service business is B2C or B2B. If you’re a B2C service business, you can directly emulate the Tampa Bay Lightning’s Social Captain concept. For B2B service businesses, identify a loyal client with subject matter expertise and invite him or her to be a guest blogger or regular contributor of content on a relevant subject.  Additionally, consider the approaches described in the retail and manufacturing industry above.

Social Captain in Technology

Lots of potential here…Depending on the nature of your tech product, locate a power user whose savvy use of your product is impressive or innovative. Recruit these power users employing tactics described above.

Four Factors in a Successful Social Captain Program

  1. Must be authentic. Do not ask your Social Captain to be an advertisement. Allow him or her to be natural and creative. Don’t put them in a box.
  2. Make the Social Captain feel special. Give him or her the red carpet treatment. Harness their passion for your brand. Show your appreciation for it. Give them a platform to be noticed. They’ll love you for it.
  3. Promote the Social Captain concept to create buzz and inspiration to attract ambassadors among your loyal customers.
  4. Describe clearly the criteria for someone to be a Social Captain. You may notice some complaining because you didn’t select them. If you communicate the selection process clearly, your community will support you.

 

 

http://www.findandconvert.com/2013/04

Population size is only one factor in influencing property prices | Katonah Real Estate

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  • tpbje20130428140_35472005.jpg
The notion that fewer people leads to lower property prices is not always destiny. Photo: Xinhua

During a recent discussion with business school students at Tsinghua University the question arose as to whether real estate prices would fall if populations began declining.

This is certainly likely, yet it is still just one possibility, and the notion that fewer people leads to lower property prices is not always destiny.

Here’s why. First, population does not have a significant correlation with real estate prices. For instance, India has a population that is close to (and is expected to one day exceed that of) China.

Its population density is even higher than that of China.

However, the fact is that real estate prices in India remain below those of China.

Another example would be the Scandinavian countries, which have relatively low populations but high property prices.

Secondly, GDP or income is generally the more influential factor in determining real estate prices. Whether a single market across different time spectrums, or a single moment across different markets, real estate prices generally reflect and jive with earning power.

Other factors such as supply generally do not come close in terms of price influence.

Furthermore, population and demographic change, whether up or down, may not only alter the scale of demand, but also its nature in sometimes creating new demand.

A city with decreasing population is likely to see some real estate surpluses. However, the demand and supply structure (pricings included) is also altered, and sometimes new demand may arise because of this.

So even assuming a price drop scenario, this may not be as bad as expected provided the market has enough flexibility to adapt.

For instance, real estate surpluses – when accompanied by price drops and/or income rises – may entice some stakeholders to acquire more floor space or units, thus reducing the anticipated volume of vacant space and units.

Also, the land on which some of the real estate surpluses is located may be redeveloped or altered to cater to the changes in demand.

In short, the demand side is not an inflexible constant and when supply changes alter the pricing equilibrium, demand may respond to restore it or reduce the supply impact.

However, in order for such market adjustments to work themselves out, the land/real estate system needs to be flexible enough to facilitate such demand and supply interaction.

This may be challenging because private interests often collide with public interests, not to mention the possibility of excessive government influence and/or lack of a proper negotiation process and compensation.

The search for the right mix will take decades via trial and error and it is prudent to start contemplating while the population is still growing.

The key to preventing a major real estate price tumble is not having more babies, but enhancing economic competence and income-earning capability.

 

 

http://www.scmp.com/property

Weekend in Bedford/Katonah NY | Katonah Realtor

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Whether you’re in search of something fun to do with the kids or you have a babysitter and are planning a night out, look no further because Patch editors have picked a variety of events taking place to help you make the most of your weekend. Click on the headline for more information of each event that’s listed alphabetically by town.

Bedford: Chowder & Marching Tag Sale and Clean Up Weekend

When: Friday-Saturday, May 3-4, 8:30 a.m. – 4 p.m.

Where: Bedford Highway Yard at Route 22 and Route 172

Cost: Admission is free.

Description: Bedford’s best known tag sale takes place the same weekend that the Chowder & Marching service club picks up unwanted items from locals. Come to the highway yard to find an array of treasures at bargain prices.

Katonah: Spotlight Theater Presents Young Frankenstein

Where: The Harvey School, Katonah

When: May 3-4, May 10-11

Cost: $18

Description: Spotlight Theater presents the Mel Brooks musical. Dr. Frankenstein aims to fulfill his grandfather’s legacy by bringing a corpse back to life. With help and hindrance from servant Igor, buxom assistant Inga and needy fiancée Elizabeth, his experiment yields success and unexpected consequences.

Katonah: Fiber Arts Trunk Show 

When: Saturday May 4, Sun. May 5, 10 a.m. – 5 p.m.

Where: The Red Barn at the John Jay Homestead, 400 Jay Street, Katonah

Cost: Free admission

Description: A sale of Quilts, Fiber Art, Hooked Rugs, Jewelry and more will benefit the Katonah Museum of Art.

 

 

http://bedford.patch.com

Housing Costs Rose for Working Families During Housing Bust | Katonah NY Real Estate

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Despite falling mortgage interest rates and home prices from 2008 to 2011, severe housing cost burdens remained stable but high for working families who own their homes while more than one in four working renter households (26.4 percent) spent more than half of their income on housing costs in 2011-an increase of more than three percentage points since 2008.

The share of working households with a severe housing cost burden increased almost two percentage points between 2008 and 2011, rising from 21.8 percent to 23.7 percent. This growth reflects the combined effects of an increase in the rate of severe housing cost burden for working renters and a more or less steady rate for working owners, according to a new study by the Center for Housing Policy.

The median housing costs of working renters rose nearly six percent between 2008 and 2011 while their median incomes fell more than three percent. Working owners experienced a decrease in median housing costs over the three-year period, but the lower costs were accompanied by an even larger decline in their median incomes, so affordability did not improve, the study found.

Median gross rents of working renters rose nearly six percent in nominal terms since 2008, with steady year-over-year increases. In contrast, housing costs for working owners followed precisely the opposite course, falling more than three percent between 2008 and 2011, with steady annual drops. Rising rental costs may be due in part to increased competition for rental units and the inadequate production of new rental units during the Great Recession.

Household incomes for working renters and owners fell at least three percent between 2008 and 2011, despite a modest one-percent increase in incomes in the most recent year. For working renters, a 3.2 percent drop in median household income reflects a larger one-year drop between 2008 and 2009 followed by small improvements in both 2010 and 2011. Working owners faced a 4.2 percent drop in median household income between 2008 and 2011 that reflects incremental annual decreases from 2008 to 2010 followed by a modest increase in 2011.

“The growing rate of severe housing cost burdens among renters is not a new trend, but it is clearly an unsustainable one,” said lead report author Janet Viveiros. “While rental costs have steadily risen over the last few years, wages for these working families have not fully recovered from the hit they took between 2008 and 2009. Spending most of your paycheck on rent means cutting back on other necessities, including healthcare and even food.”

Co-author Maya Brennan noted that the causes of rising housing cost burdens among working renters include a difficult economy and an increased demand for rental housing, partly due to the crisis on the homeownership side of the market.

“While the economy pushed both owners’ and renters’ incomes down, the shift away from homeownership is pushing rents up due to increased demand. What we’re seeing with the rental market is not explainable by population trends alone-it clearly reflects the movement of former homeowners into rentals as well as delays in home purchases by current renters,” Brennan explained. “But this increase in rental demand has not been matched by an increase in supply. This imbalance leads to rising rents in markets across the country.”

The study defined working households as those that report household members working at least 20 hours per week, on average, and earning no more than 120 percent of the median income (AMI) in their area. There were approximately 44.5 million working households in the United States in 2011, split between homeowners (21.9 million) and renters (22.6 million).

 

http://www.realestateeconomywatch.com/2013/05

 

Katonah Sales Down 4.5% | Median Price Up 15% | RobReportBlog

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Katonah NY Real Estate ReportRobReportBlog20136 months ending 4/29201221Sales22$750,000.00median sold price$651,500.00$320,000.00low sold price$365,000.00$7,000,000.00high sold price$4,000,000.003564average size2859$308.00ave. price per foot$328.00261ave days on market216$1,262,785.00average sold price$1,027,795.0089.67%ave sold to ask94.08%
via trulia.com

Fed warns about lenders ability to handle higher interest rates | Katonah Real Estate

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The Federal Reserve voiced concerns over whether banks can withstand an eventual increase in interest rates after a long, low-interest-rate environment, according to an article in The Wall Street Journal. 

A panel of federal regulators charged with observing market risk met on Thursday and warned that a sudden surge in interest rates could have a destabilizing effect on financial markets, the WSJ said.

The Fed’s chairman, Ben Bernanke, sits on the Financial Stability Oversight Council. Using detailed data that the central bank started collecting after the financial crisis, Fed officials are regularly running big banks’ portfolio holdings through models to gauge their exposure to various changes in interest rates, according to Fed officials.

via housingwire.com