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Reining in Share House Rentals in East Hampton | Waccabuc Real Estate

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[PARTAY! Photo credit: GoaG]

The Wall Street Journal yesterday discussed the latest proposal in the Town of East Hampton for limiting share houses because of complaints about noise and overcrowding at beaches. Some residents say the problem has worsened in recent years as trendy bars and clubs have opened in Montauk. The bill would require homeowners to inform the town if they are renting their house and disclose the square footage and number of bedrooms. Not everyone is in favor. John Keeshan, the well known Montauk broker, says if the town would “enforce the laws on the book presently, it wouldn’t be necessary to muddy the water by creating new legislation.”
· East Hampton Seeks Share-House Hangover Cure [WSJ]

 

 

Reining in Share House Rentals in East Hampton – party hearty – Curbed Hamptons.

Move facilitating sharing of listings between California MLSs | Katonah Real Estate

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Agents with two California multiple listing services — MetroList Services Inc. and i-Tech MLS — will see confidential information about shared listings from the source MLS using a reciprocal deep-linking service powered by realtor.com operator Move Inc.’s “Find” search tool.

Agents at those MLSs — and any others in California that agree to sign on to the service — will see an additional layer of detail about shared listings that includes offers of cooperation and compensation, agent contact information, and showing details, Move said.

MetroList Services is based in Sacramento, and serves more than 17,000 real estate professionals in seven counties — Sacramento, Placer, El Dorado, San Joaquin, Stanislaus, Merced and Yolo. I-Tech MLS is a joint venture of the Glendale Association of Realtors and the Pasadena-Foothills Association of Realtors.

Any MLS in California can participate by contracting with Move for the Find search tool, becoming a party to the reciprocal deep-linking agreement, and implementing the technology on their MLS system, Move said.

“This innovative agreement is a model for MLSs seeking collaborative solutions that meet the business and technical needs of their customers, which are now inseparable,” said Move CEO Steve Berkowitz in a statement. “The agreement and integration is a landmark step towards maximizing the tremendous potential of the Find application by allowing licensed agents to work together across MLSs to access complete listing information in real time to serve their clients.”

MetroList Services President and CEO Tom Beede called reciprocal deep linking “the most cost-effective way to provide real estate agents with access to confidential information on for-sale properties, because it’s free.”

– See more at: http://www.inman.com/2013/09/04/move-facilitating-sharing-of-listings-between-california-mlss/#sthash.VHAWjPB9.dpuf

 

Move facilitating sharing of listings between California MLSs | Inman News.

Housing market now the ‘tailwind’ pushing economic growth | Cross River Real Estate

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It was only a few years ago that the housing market helped drag the U.S. economy into the gutter, but times surely have changed.

In its monthly economic forecast on Monday, Fannie Mae said it believes the recent slowdown in economic growth may be short-lived thanks to the strong rebound of the housing market, which will serve as the economy’s “tailwind” through the rest of the year and even into 2014.

“If (home purchase) demand awakens further and more jobs are added each month, economic activity should step up compared to 2012 levels with housing acting as a significant contributor to growth,” the report said.

After a strong start to 2013, Fannie Mae noted economic growth has been tapering off in recent months “partly due to fiscal drags including sequester.” But with further anticipated improvements in the financial and housing markets, Fannie Mae expects the nation’s economy will grow 2.2 percent by year-end from 2012. That’s a modest gain, but still better than the 1.7 percent and 2 percent year-over-year economic growth the U.S. saw in 2012 and 2011, respectively.

“Employment numbers are getting better, albeit it at a relatively slow pace, and the April employment picture should help boost consumer sentiment toward the economy overall,” Fannie Mae Chief Economist Doug Duncan said in the report. “Spending grew in the first quarter at a surprisingly strong pace, and although this rate is unlikely to hold up, consumers continue to show signs of resilience in the face of fiscal concerns.”

 

 

Housing market now the ‘tailwind’ pushing economic growth – Phoenix Business Journal.

Want Chinese clients? Hire Chinese-speaking agents | Cross River Real Estate

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Any discussion of working with the Chinese market must begin with a word of caution: China is in many ways as diverse as Europe, so general statements about Chinese clients must be treated carefully.

In the past 30 years, our firm has done thousands of transactions, both commercial and residential, with Chinese families and businesspeople. Notwithstanding China’s immense diversity, our collective experience has given us certain concrete insights into the expectations of Chinese clients, what factors shape their investment decisions, and how to best service this segment of the market.

When compared to other investment vehicles, there is a general preference for real estate investment amongst Chinese clients. According the U.S. Census Bureau and other studies, Asian Americans, specifically Chinese Americans, have a higher homeownership rate than any other immigrant group.

There are a variety of reasons for this which are beyond the scope of this article, but the bottom line is that when Chinese families or businesspeople come to North America, real estate is often the first major investment they make.

– See more at: http://www.inman.com/2013/05/15/want-chinese-clients-hire-chinese-speaking-agents/#sthash.BXaIr9DY.dpuf

 

 

Want Chinese clients? Hire Chinese-speaking agents | Inman News.

Homeowners Remodeling Not Moving | Lewisboro NY Homes

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Bedford_tree_by_robert_paul

The March BuildFax Remodeling Index, which is based on building permit data, increased for the seventeenth straight month on a year-over-year basis as the residential remodeling industry continued to strengthen and more homeowners opted to stay where they are and remodel rather than move.

The index rose 14 percent year-over-year – and for the seventeenth straight month – to 98.0, the highest March number in the index aside from March 2006. Residential remodels in March were up month-over-month 2.9 points (3 percent) from the February value of 95.1, and up year-over-year 12.0 points from the March 2010 value of 86.0.

All regions except the Midwest posted year-over-year and month-over-month gains. The West posted the largest gains, up 18.5 points (22 percent) year-over-year and up 5.4 points (6 pecent) month-over-month. The Midwest saw significant drops, down 15.3 points (20 percent) year-over-year and 3.3 points (5 percent) month-over-month, perhaps due to a colder winter. The Northeast gained 2.7 points (4 percent) year-over-year and 4.5 points (8 percent) month-over-month, and the South improved 7.8 points (10 percent) year-over-year and 7 points (9 percent) month-over-month.

“The winter of 2010/2011 was one of the worst on record. The economy is continuing to struggle and gas prices have soared, however, consumers in March still continued spending on renovations and home improvements as they drove the remodeling industry to yet another month of solid gains compared to a year ago,” said Joe Emison, Vice President of Research and Development at BuildFax. “Significant improvements in the West continue to drive activity nationally to the best year in remodeling since 2006. Even though the Midwest saw a drop this winter, 

early data shows that remodeling in all regions will continue to prove out the economic recovery in 2011.”

BuildFax has created a proprietary property intelligence engine that contains building and permitting information from 4,000+ cities and counties throughout the country.  The BuildFax database currently covers over 60 percent of the U.S. commercial and residential building stock with 6 billion data points

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Lewisboro Wolves Benefit Hosted by Richard Gere | Lewisboro NY Homes

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wolves at bedford post by r paul

Lewisboro NY Residential Real Estate    |    RobReportBlog

via trulia.com
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Existing home sales jump 12% | South Salem NY Homes

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(Via CNN Money)

Sales of existing homes jumped in December, marking the fifth month of gains in the past six months, based on an industry report released Thursday.

Previously-owned home sales climbed 12.3% in December to an annual rate of 5.28 million, from 4.70 million in November, according to the National Association of Realtors.

That puts sales at the highest level since the homebuyer tax credit expired in June, said Stuart Hoffman, chief economist at PNC Financial Services Group.

The December rate came in much higher than expected. A consensus of experts surveyed by Briefing.com had forecast an annualized sales rate of 4.8 million. However, sales were down 2.9% from 12 months earlier and fell 4.7% in 2010.

Foreclosure glut threatens housing recovery

“December was a nice finish to the year, but looking at the bigger picture — home sales and prices have been scraping along the bottom for the last three years,” Hoffman said. “So, while we’re not digging a deeper hole — the housing market is still quite weak, and there are still more homes available on the market than there are likely to be buyers.”

The median price of all existing homes sold in December was $168,800, down 1% from a year ago.

Meanwhile, the inventory of homes on the market fell 4.2% in December to 3.56 million units. That’s enough inventory to last 8.1 months, and is down from a 9.5-month supply in November.

While that’s an improvement, Hoffman said that data doesn’t reflect the large number of foreclosures that could soon enter on the market.

“What’s hidden behind the curtain are potential foreclosures adding to those inventory levels,” he said. “Even as we have jobs growing, inventory is still large and more foreclosures are going to be coming on the market. Prices will go down and it’s going to continue to be very much a buyer’s market.”

That said, Hoffman expects sales to gradually improve — rising about 4% or 5% — by the end of 2011, as the employment picture improves.

“I do think there will be more sales in 2011, because job growth will support homebuyers,” Hoffman said. “We’re getting back to the underlying demand without the homebuyer tax credit, but housing is still not contributing much to the overall economic improvement in the economy.” 

 

 

Full Story on CNN Money

Lewisboro NY Parks and Preserves | Lewisboro NY Real Estate

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Lewisboro is rich in natural areas and is a component of the biotic corridor. Two Westchester County Parks are on Lewisboro’s borders, and there are 6 town parks and several community preserves.

Ward Pound Ridge Reservation is Westchester County’s largest (4,700 acre) park. In addition to many trails, there are camping facilities and a Trailside Museum. The main entrance is on route 121 in Cross River.

Mountain Lakes Camp is a County park on the northern border of Lewisboro, with beautiful ponds and trails in the forest. The most popular trail leads to Look Out Point which is perched on top of a cliff overlooking Lake Waccabuc,Lake Oscaleta and Lake Rippowam.


Onatru Farm on Elmwood Road is one of Lewisboro’s preëminent parks and includes tennis facilities and playing fields as well as some town offices. This area also includes some walking trails.

The Lewisboro Town Park on Route 35 contains tennis courts, the town pool, ball fields, and outdoor basketball courts. When ice skating is available in winter, a sign is posted. There are also some walking trails in this park that connect to the adjacent Ward Pound Ridge Reservation.

The Leon Levy Preserve was acquired by the town in 2006 as open space. While some trails exist in this 370-acre (1.5 km2) parcel, as of 2008 additional horse and hiking trails are under development and parking is still limited.

The Brownell Preserve is 118 acres (0.48 km2) of forested land given to the town. It has a 2-mile (3.2 km) trail that loops past an overlook of Lake Katonah.

The Old Field Preserve was obtained in 2003, and contains about 100 acres (0.40 km2) of woods, wetlands, and sizable old fields (thus, the name). The meadows will be preserved to support the birds and animals that are dependent upon this increasingly rare habitat.

Fox Valley Park has a variety of sports facilities for the town, including very busy soccer fields, ball fields, and tennis courts.
See Walking Wild Lewisboro for information on park facilities and trail maps.

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Lewisboro Real Estate Prices Rising in 2010 | Lewisboro NY Real Estate | RobReportBlog

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Taking a look at the Katonah-Lewisboro school district real estate prices over the last ten years we found median prices were rising until their peak in 2007.  In 2008 and 2009 prices dropped.  In 2010 the median price for a Katonah-Lewisboro school district home rose again.

2000          $502,000

2001          $595,000

2002          $647,500

2003          $675,000

2004          $750,000

2005          $749,500

2006          $790,000

2007          $815,000

2008          $730,000

2009          $617,500

2010          $690,000

Inventory is still high but the median price in Lewisboro shows a good increase in 2010. 

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Lewisboro NY Home Prices Will Be Flat Through 2015 | Lewisboro Real Estate

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The recovery of housing prices will take at least four more years, according to a monthly survey of 110 leading economists and real estate experts, significantly longer than previously estimated.

Housing prices will rise only 7.2 percent by 2014 and the aggregate value of U.S. single-family homes four years from now will be roughly $1 trillion less than the economists projected in May, said Terry Loeb of MacroMarkets, the firm conducting the survey, which is based upon the projected path of the S&P/Case-Shiller U.S. National Home Price Index over the coming five years. 

”For the first time, in this month’s survey, our panelists provided their expectations through 2015. Less than 3% of the panel expects negative change in 2015, and at +3.7 percent, the average of the forecasts for that year is slightly higher than the average annual rate of national home price appreciation that prevailed in the decade prior to the historic bubble.  Yet, at +7.2%, the average projection of cumulative home price performance through 2014 reached its lowest point since survey inception for the second consecutive month,” said Robert Shiller, MacroMarkets co-founder and chief economist.

“The survey data we collected this year have consistently pointed to price stability in the intermediate- to long-term, which is reassuring in light of the volatility in actual home prices we have witnessed during the past few years.  However, most experts foresee a longer road to recovery, and materially lower price performance in the coming years than they did just a few months ago,” said Terry Loebs, MacroMarkets managing director.

Since the third quarter of 2006, near the height of the housing boom, prices have fallen 28 percent by the third quarter of this year, according to the S&P/ Case-Shiller US National Price Index.  The index rose 14.2 percent from the first quarter of 2009 until the second quarter of 2010, when the housing tax credits were in effect.  The latest MacroMarkets Home Price Expectations Survey was conducted during the period December 1st through December 15th.

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