Tag Archives: Katonah Real Estate for Sale

Building your root cellar | Katonah Real Estate

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Make this root cellar by burying a new concrete septic tank into a hillside.
Illustration by Len Churchill

 

The cool, moist and dark conditions of a root cellar make it the perfect place to keep many fruits and vegetables crisp and delicious for weeks — even months — of storage. And while there are myriad ways to store vegetables, our innovative root cellar plans show you how to build a root cellar by modifying a new, precast concrete septic tank. By following the plans, you’ll cut an entrance, install a door, add a pair of vent pipes and cover the tank with soil to bring an old-fashioned, walk-in cellar into your modern life.

Choose a Concrete Septic Tank

You’ll want to buy an unused septic tank for this root cellar design, but look for a deal to avoid paying full price. A percentage of all precast concrete septic tanks end up with small manufacturing defects that prohibit them from being used for sewage treatment. Suppliers sometimes offer discounts on these flawed tanks. As long as the tank is solid and sound, a chipped edge or a patchable hole won’t prevent it from being a root cellar. You won’t need the plastic fittings or effluent filter found inside most septic tanks, so ask the supplier to remove these before delivery.

Tank size is another detail you’ll need to consider when planning how to build a root cellar from a septic tank. The capacity of septic tanks is measured in gallons, with different models being taller or shorter. While you might be tempted to buy a 1,000- or 1,200-gallon tank because they’re common, you’ll get more food storage space and headroom with a tank that’s 1,500 gallons or larger. Standard 1,500-gallon tanks typically measure about 5 1/2 feet wide by 5 1/2 feet tall by 10 feet long, while a 2,500-gallon tank provides more than 6 feet of interior headroom. Don’t choose a low-profile tank because it will be much too short to work in. Prices for new, undamaged 1,500-gallon tanks start at about $1,100, and 2,500-gallon models can be found for as low as $1,600. Discounts for damaged tanks may be as much as 50 percent.

Most septic tanks have an internal partition that must be opened or removed to build from these root cellar plans. Try to find a tank without a partition, or ask your supplier to remove it before delivery. You can also punch through the partition yourself as part of the doorway-cutting process.

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http://www.motherearthnews.com/diy/buildings/root-cellar-plans-zm0z14amzreb.aspx?newsletter=1&utm_source=Sailthru&utm_medium=email&utm_campaign=11.25.15%20MEN%20DIY%20eNews&utm_term=DIY%20eNews

New Home sales shrink 11.5% | Katonah Real Estate

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Sales of new single-family houses in the United States shrank 11.5 percent to a seasonally adjusted annual rate of 468,000 in September of 2015, the lowest since November last year. The stock of new houses for sale increased to its highest since March of 2010. New Home Sales in the United States averaged 654.25 Thousand from 1963 until 2015, reaching an all time high of 1389 Thousand in July of 2005 and a record low of 270 Thousand in February of 2011. New Home Sales in the United States is reported by the U.S. Census Bureau.

 

United States New Home Sales

 

ActualPreviousHighestLowestDatesUnitFrequency
468.00522.001389.00270.001963 – 2015ThousandMonthly
Volume, SA
A sale of the new house occurs with the signing of a sales contract or the acceptance of a deposit. The house can be in any stage of construction: not yet started, under construction, or already completed. This page provides the latest reported value for – United States New Home Sales – plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Content for – United States New Home Sales – was last refreshed on Monday, October 26, 2015.
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http://www.tradingeconomics.com/united-states/new-home-sales

US Mortgage Apps surge 25% | Katonah Real Estate

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Applications for U.S. house mortgages surged 25.5 percent in the week ended October 2nd, 2015, rebounding from a 6.7 percent fall in the previous period and posting the highest gain since-mid January as many applications were filled prior to the TILA-RESPA regulation took effect on October 3rd, introducing changes to the mortgage process. In addition, fixed 30-year mortgage rates averaged 3.99 percent, the lowest in five months. Refinancing applications soared 24.2 percent and purchase applications went up 27.4 percent. Mortgage Applications in the United States averaged 0.54 percent from 2007 until 2015, reaching an all time high of 49.10 percent in January of 2015 and a record low of -38.80 percent in January of 2009. Mortgage Applications in the United States is reported by the Mortgage Bankers Association of America.

 

ActualPreviousHighestLowestDatesUnitFrequency
25.50-6.7049.10-38.802007 – 2015percentWeekly
SA
Mortgage Applications measure the change in the number of new applications for mortgages backed by the Mortgage Bankers Association during the reported week. Mortgage applications include both refinancing and home purchasing. This page provides – United States MBA Mortgage Applications – actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for – United States MBA Mortgage Applications – was last refreshed on Wednesday, October 7, 2015.
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http://www.tradingeconomics.com/united-states/mortgage-applications

Used homes sales fall | #Katonah Real Estate

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Contract signings to purchase previously owned U.S. homes unexpectedly declined in August for just the second time this year, signaling residential real estate might have difficulty building on recent momentum.

An index of pending home sales decreased 1.4 percent after a 0.5 percent advance in July, the National Association of Realtors said Monday. The median projection in a Bloomberg survey of economists called for the gauge to climb 0.4 percent.

A scant supply of homes for sale that’s keeping prices elevated is hampering demand. At the same time, historically low mortgage rates and steady employment gains should help underpin the market as the broader U.S. economy battles headwinds from dollar appreciation and slower overseas growth.

“Pending sales have leveled off since mid-summer, with buyers being bounded by rising prices and few available and affordable properties within their budget,” NAR chief economist Lawrence Yun said in a statement.

Estimates in the Bloomberg survey of 37 economists ranged from a decrease of 4.2 percent to an advance of 1.5 percent.

Purchase contracts increased 6.7 percent in the 12 months ended in August after a 7.2 percent annual gain in July on an unadjusted basis, the NAR report showed.

The pending sales index was 109.4 on a seasonally adjusted basis. A reading of 100 corresponds to the average level of contract activity in 2001, or “historically healthy” home-buying traffic, according to the NAR.

 

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http://www.bloomberg.com/news/articles/2015-09-28/pending-sales-of-previously-owned-u-s-homes-unexpectedly-fall

Condo prices struggling | Katonah Real Estate

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Appreciating home values in the bottom third of the market helped pull more homeowners out of negative equity in the second quarter of 2015, but condos were more likely than houses to be underwater , according to the Zillow® Negative Equity Report.

•             The U.S. rate of negative equity among mortgaged homeowners continued to drop in the second quarter of 2015, to 14.4 percent– the first time the rate has been below 15 percent since the real estate bubble burst.

•             The improvement was spurred by value growth in the least valuable third of the housing stock, which are far more likely to be underwater than other homes.

•             Condos are more likely to be underwater than single-family homes. Nearly 20 percent of all condos with a mortgage are upside down.

Condo-owners were in far worse shape than single-family homeowners in Chicago, Orlando and Las Vegas. And in only three markets – Detroit, Memphis, and Pittsburgh –single-family homeowners were more likely to be underwater than condo-owners.

A high rate of homeowners who owe more on their mortgages than their homes are worth is a lingering effect of the real estate crisis. At its worst, more than 15 million homeowners were upside down on their homes. Foreclosures, short sales and rapidly rising home values freed nearly half of those homeowners, leaving 7.4 million homeowners upside down at the end of Q2 2015.

The continued decline of the overall negative equity rate was fueled in the first half of the year by strong appreciation for the least valuable third of homes. The least valuable homes are much more likely to be underwater than more valuable homes

In the Atlanta market, for example, nearly 43 percent of the least valuable homes are in negative equity, while only 9.4 percent of high-end homes are underwater. Annual home value appreciation among the least valuable homes in Atlanta had slowed for 12 straight months through June 2015 months. However, low-end homes have been appreciating annually more than more valuable homes.  Since June 2014, annual appreciation in the bottom tier outpaced home value appreciation among all Atlanta homes, likely helping drive negative equity down there from 29 percent to 21 percent year-over-year.

Similar trends played out in Sacramento, Riverside, and Phoenix, all places that have struggled with high rates of negative equity.

 

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http://www.realestateeconomywatch.com/2015/09/

 

Brad Pitt Brings the Tiny Home Trend to New Orleans | Katonah Real Estate

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The tiny home trend has taken off in recent years, and is now being championed by of one of Hollywood’s biggest stars: Brad Pitt. The actor-producer’s Make it Right foundation is partnering with FYI’s Tiny House Nation to build the organization’s very first tiny home to mark the 10th anniversary of Hurricane Katrina. This most recent enterprise will be the organization’s 109th home built in New Orleans’ Lower Ninth Ward, the neighborhood hardest hit by Hurricane Katrina in 2005.

Pitt founded the Make it Right foundation in 2007 to provide residences for communities in need of affordable and sustainable housing. Make it Right seeks to fulfill its vision of having people all around the world “living in healthy communities and affordable, high-quality, environmentally sustainable homes.” All housing built by Make it Right follows the “Cradle to Cradle” philosophy, which was created by architect William McDonough and chemist Dr. Michael Braungart.

For a quick rundown of what exactly Cradle to Cradle entails, the organization’s website provides this helpful list:

• Materials are defined as biological and/or technical nutrients for safe use and reuse
• Products are designed for disassembly/recovery
• Uses renewable energy
• Maintains and enhances water quality
• Honors social fairness and human dignity
• Improvement is continuous and aspirational

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https://www.yahoo.com/makers/brad-pitt-brings-the-tiny-c1239214805033014.html

Las Vegas housing prices dip | Katonah Real Estate

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Las Vegas housing resale prices dipped in July but remained higher than they were a year ago, while sales volume continued to climb, according to a new report.

The median sales price of single-family homes sold in Southern Nevada last month was $218,000, down 0.9 percent from June but up 9 percent from July 2014, according to the Greater Las Vegas Association of Realtors.

Buyers picked up 3,180 single-family homes last month, up 4 percent from June and 20.4 percent from July 2014.

The number of ignored listings, however, also rose. There were 7,636 single-family homes on the market without offers by the end of July, up 2.7 percent from June and 5 percent from a year ago, the GLVAR reported.

The trade association reports data from its listing service, which largely comprises previously owned homes.

In the report, GLVAR President Keith Lynam said he likes to compare the housing market to a marriage: “It’s a good thing when it’s stable.”

“For the most part, that’s what we’ve seen so far this year,” he said.

Prices are rising at a much slower pace than in recent years. After the economy tanked, investors gobbled up cheap homes to turn into rentals and pushed up housing values at one of the fastest rates nationally, raising fears of another bubble. However, the housing marketcooled considerably last year as investors, faced with higher prices, backed out.

 

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http://vegasinc.com/business/2015/aug/10/Las-Vegas-housing-prices-dip-July/

Interest Only Mortgages are back | Katonah Real Estate

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They were the villains of the housing crash. Federal regulators called them toxic. Now interest-only mortgages are making a comeback, but these are not the loans of yesteryear or yester-housing booms.

“I think it’s opening the door back to responsible lending, giving people choices,” said Mat Ishbia, president and CEO of Michigan-based United Wholesale Mortgage, the second-largest lender through brokers in the nation.

The company announced Monday it is now offering interest-only loans through brokers, with significant safeguards. Borrowers must put 20 percent down, ensuring that they have the “skin in the game” that so many did not during the heady days of the housing boom. They must have at least a 720 FICO credit score, which is well above average, and they must qualify on what the payments will be once they’re adjusted higher, not at the starter rate.

Real estate

Mike Powell | Getty Images

“These people can afford these mortgages. They’re savvy homeowners,” said Ishbia. “We’re giving them the choice. It is no more risk to us. We actually think it’s less risk.”

United Wholesale Mortgage does not hold the loans but sells them to investors. Fannie Mae and Freddie Mac, the government-backed mortgage giants, do not buy these types of loans.

The mortgage begins as a five-year adjustable-rate product. Without paying principal, a borrower using, for example, a $300,000 mortgage, would start at 4.125 percent today, the same as a 30-year fixed. Without paying principal, however, the borrower would save $420 per month.

The interest rate can then adjust higher after five years, depending on market rates, but borrowers for this product are underwritten at a rate above 6 percent to ensure they could handle that adjustment. Borrowers are also required to start making principal payments after 10 years; of course they can also refinance the loan whenever they want.

In 2013, the Consumer Financial Protection Bureau issued rules to protect consumers from what it deemed “irresponsible mortgage lending.” So-called qualified mortgages under the new regulations would give lenders certain protections, should the loans go bad. Under the QM rules, according to the news release at the time, there would be:

No toxic loan features: A qualified mortgage cannot have risky loan features, such as terms that exceed 30 years, interest-only payments, or negative-amortization payments where the principal amount increases. In the lead up to the crisis, too many consumers took on risky loans that they didn’t understand. They didn’t realize their debt or payments could increase, or that they weren’t building any equity in the home.

Interest-only loans therefore fall under the definition of a qualified mortgage. During the housing boom, they were used to help borrowers buy homes they really couldn’t afford. Now, more lenders are starting to do them again, but with much tighter restrictions. They are mostly offered to high net worth individuals in the jumbo loan category, and banks hold the loans on their balance sheets.

 

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http://www.cnbc.com/2015/07/20/interest-only-mortgages-theyre-baaack.html

30 Year Mortgage Rates Average 4.08% | Katonah Real Estate

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Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates reaching new 2015 highs heading into the holiday weekend and ahead of the June jobs report.

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 4.08 percent with an average 0.6 point for the week ending July 2, 2015, up from last week when it averaged 4.02 percent. A year ago at this time, the 30-year FRM averaged 4.12 percent.
  • 15-year FRM this week averaged 3.24 percent with an average 0.6 point, up from last week when it averaged 3.21 percent. A year ago at this time, the 15-year FRM averaged 3.22 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.99 percent this week with an average 0.4 point, up from last week when it averaged 2.98 percent. A year ago, the 5-year ARM averaged 2.98 percent.
  • 1-year Treasury-indexed ARM averaged 2.52 percent this week with an average 0.3 point, up from last week when it averaged 2.50 percent. At this time last year, the 1-year ARM averaged 2.38 percent.

Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following links for theRegional and National Mortgage Rate Details and Definitions. Borrowers may still pay closing costs which are not included in the survey.

Quote
Attributed to Sean Becketti, chief economist, Freddie Mac.

“Overseas events are generating significant day-to-day volatility in interest rates. Nonetheless, the week-to-week impact on most rates was modest — the 30-year mortgage rate increased just 6 bps, to 4.08 percent. The MBA composite index of mortgage applications fell 4.7 percent in response to what is now three consecutive weeks of mortgage rates over 4 percent. Other measures, however, confirmed continued strength in housing — pending home sales rose 0.9 percent, exceeding expectations, and the Case-Shiller house price index recorded another solid increase.”

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/