Tag Archives: Mount Kisco NY

Video Shows Alleged Newspaper Swap Incident In Mount Kisco | Mt Kisco Homes

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A video released today appears to show a distributor of the Hudson Valley Reporter swapping copies of that newspaper with The Examiner in an alleged incident that occurred on Friday at the newspaper racks outside the Mount Kisco Coach Diner.

The video link was provided to The Daily Voice by Adam Stone, the publisher of The Examiner, and was compiled by Matt DiBiase, a private investigator hired by Stone from Mahopac-based Colonial Investigative Associates. (The alleged incident occurs at the beginning of the 31-minute, 45-second video, which later includes the arrival of a police officer to investigate at about the 20-minute mark.)

Jim Palmer, the Mount Kisco village manager, confirmed to The Daily Voice on Friday that Michael Espinoza was arrested at approximately 6 a.m. that day and charged with criminal tampering.

The arrest has attracted national attention. Gawker linked to The Daily Voice’s original story.

Hudson Valley Reporter publisher Faith Ann Butcher referred inquiries regarding the alleged incident to her Carmel-based attorney, Raymond Cote, when she was contacted by The Daily Voice on Friday. Cote said it was too early in the process to comment.

 

http://mtkisco.dailyvoice.com/news/video-shows-alleged-newspaper-swap-incident

 

How The Shutdown Is Hurting The Housing Market | Mount Kisco Real Estate

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As with so many other types of economic activity, the government shutdown is causing more fear than actual harm in the housing market thus far.

But that doesn’t mean things won’t start going wrong in the very near future.

Various federal agencies play greater or lesser roles in real estate transactions. With most of them sidelined, simple matters such as closing on mortgages are becoming more complicated.

“It’s going to add up pretty quickly, because loans can’t be closed in many cases,” says Mark Zandi, chief economist for Moody’s Analytics, a financial research organization. “The damage is going to start to mount and in a few days it’s going to be a significant problem for the housing market.”

The market, which had grown more robust over the past couple of years, was starting to cool off this fall anyway, due to rising prices and interest rates.

If interest rates go up due to the fear or reality of a debt default — and the costs for short-term treasuries are already starting to spike — that would have major consequences for real estate sales.

“This government shutdown, which is an artificial obstacle to the recovery, is clearly not a good thing,” says Lawrence Yun, chief economist for the National Association of Realtors.

What’s Not Working

Anyone who has purchased or refinanced a house knows a lot of paperwork is involved. The tall stack of forms that buyers and sellers sign at closings is largely generated or required by federal agencies that may now be temporarily out of the game.

Still, real estate agents and mortgage lenders have thus far been able to work their way around many of the hurdles put up by the partial government shutdown.

 

 

 

http://www.npr.org/2013/10/08/230467533/how-the-shutdown-is-hurting-the-housing-market

Time on Market Falls to 8.6 Weeks | Mount Kisco Real Estate

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Houses are selling faster in America than they have in three and a half years, the height of the homebuyer tax credit, as the recovery continues to roar through the summer months despite predictions the torrid pace of sales will slow.

New HousingPulse data show that three key barometers of the health of the housing market – time on market, number of sales offers, and the sales-to-list price ratio – all remained very strong for non-distressed properties in July. Non-distressed properties are the largest and fastest segment of this year’s housing market, according to the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey results.

In the important time on market measurement, the average nationwide fell to a three-and-a-half year low of 8.6 weeks (based on a three month moving average) for non-distressed properties, HousingPulse found. That was not only way down from the 12.1 weeks seen in December but also down from 9.2 weeks in May.

On a regional basis, the average time on market for non-distressed properties sold in July ranged from a low of just 4.5 weeks in California to a high of 11.3 weeks in the Industrial Midwest (MO, IL, IN, OH and MI), HousingPulse data showed.

In terms of number of offers received, the July results also were very strong. Nationwide, HousingPulse recorded an average 2.3 offers for non-distressed properties sold in July. That was the fourth month in a row the national average has been at a three-and-a-half year high.

California once again led the nation in this category with an average 4.1 offers received on every non-distressed property sold in July. The Farmbelt (ND, SD, NE, KS, MN, IA and WI) was at the other end of the spectrum with an average of just 1.4 offers on every non-distressed property sold.

In the key sales-to-list price ratio category, a measure of how close a property’s sales price came to the listed price, July set a new high watermark, according to HousingPulse. The average sales-to-list price ratio for non-distressed properties nationwide hit 98.0 percent last month. That was up from 95.6 percent in December and 97.6 percent in May.

On a regional basis, California topped all other areas with an average sales-to-list price ratio of 101.8 percent in July. That meant that on average non-distressed properties in California sold for more than their asking price – a sign of a very hot housing market. On the other end, Florida had the lowest average sales-to-list price ratio in July for non-distressed properties at 95.0 percent.

 

http://www.realestateeconomywatch.com/2013/08/time-on-market-falls-to-86-weeks/

 

Mount Kisco’s Farm Closes Its Doors For Good | Mt Kisco Real Estate

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A Mount Kisco institution formally closed its doors this week.

The Farm, located at 21 S. Moger Ave., announced in mid-July it was closing, after being in business for more than 25 years. The store was a a popular destination for Mount Kisco residents and also people in Pleasantville, Chappaqua and Bedford.

The Kim family, which owned the store, blamed the economic recession for the closure.

“We’ve experienced big drop-off every year since the recession,” George Kim said back when the closure was first announced. “Business has simply not been good. There’s no other reason to it.”

Kim said the store had experienced drops in business before, but has usually recovered. Kim said he will miss his customers the most.

“It’s sad we are closing,” Kim said. “People are upset we are leaving. We feel we have been a small part of their families.”

Kim remembers meeting some of his customers as children and then watching them grow up, get married and have their own children.

Kim said other factors including inadequate parking and not enough attractions in Mount Kisco led to the closure.

“There are 17 banks in the village,” Kim said. “Why do we need so many? That doesn’t really draw customers into town.”

Skyrocketing rent costs and other expenses, along with competition from supermarkets, have made it almost impossible for mom and pop fruit stands to compete, Kim said. He also noticed people are just not cooking as much.

“Mom and dad, once their kids leave the house, prefer to go out to dinner,” Kim said. “We can’t keep raising our prices. You can only raise prices so much for certain things.”

Kim said Mount Kisco used to be a nice town, but over the last 20 years, it has changed, with small businesses getting squeezed out.

“Every time there’s an empty space, a bank goes in,” Kim said. “They are the only ones willing to pay all that rent.”

Despite being forced to go out of business, Kim said he will miss Mount Kisco and its people.

 

 

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ARM loans back in fashion as mortgage rates rise | Mt Kisco Real Estate

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About 1 in 5 mortgage loan applications received by Quicken Loans are from borrowers seeking adjustable-rate mortgage (ARM) loans, Crain’s Detroit Business reports.

Rates on 30-year fixed-rate mortgages averaged 4.4 percent with an average 0.7 point for the week ending Aug. 8, according to Freddie Mac’s latest rate survey.

Rates on five-year Treasury-indexed hybrid ARM loans averaged 3.19 percent with an average 0.5 point, and one-year Treasury-indexed ARMs averaged 2.62 percent with an average 0.3 point.

Quicken Chief Economist Bob Walters points out that homeowners move every seven to 10 years on average, and “all that security they’re paying for with a higher rate generally isn’t used.”

Source: crainsdetroit.com.

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http://www.inman.com/wire/arm-loans-back-in-fashion-as-mortgage-rates-rise/#sthash.Nhbn6E8b.dpuf

Mount Kisco NY Real Estate Weekly Report | Mount Kisco NY Homes

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Mt Kisco   NY Weekly Real Estate Report8/22/2013
Homes for sale45
Median Ask Price$599,000.00
Low Price$280,000.00
High Price$3,950,000.00
Average Size3091
Average Price/foot$328.00
Average DOM124
Average Ask Price$1,072,287.00

Realtor.com’s perspective on NAR board vote | Mt Kisco Real Estate

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Three weeks ago in Chicago, members of the National Association of Realtors’ board of directors — 625 practicing Realtors from every state and territory — put their busy summers on pause to make decisions about their website, realtor.com. It was an extraordinary gathering, and it produced extraordinary outcomes. As president of realtor.com, I’d like to share my perspective on what these outcomes mean for the site, for the Realtor brand, consumers, and the real estate industry as a whole. For me, it is not possible to understand the decisions made in Chicago without a look at the broader strategic context — and a little bit of history. Here’s how I see it.

 

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http://www.inman.com/2013/08/16/realtor-coms-perspective-on-the-nar-board-of-directors-vote/#sthash.Nmpqnb5R.dpuf

Housing inventory rises in July | Mt Kisco Real Estate

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Inventory of U.S. homes for sale rose 1.41 percent in July from June and was down 5.27 percent from July 2012, marking the second consecutive month that year-over-year inventory percentage declines were in the single digits, according to a realtor.com report released today.

The median list price of homes for sale remained unchanged from June at $199,900, and homes took 6.25 percent longer to sell in July than in the previous month, the report showed.

“The recovery is entering a new phase where inventory shortfalls are no longer the driving force behind changes in housing prices in many markets,” said Steve Berkowitz, CEO of realtor.com operator Move Inc., in a statement. ”Larger inventories, especially in the hotter markets that experienced rapid price increases in the spring, are expanding buyers’ choices and helping to moderate price increases.”

– See more at: http://www.inman.com/wire/housing-inventory-rises-in-july/#sthash.EUyqWE6m.dpuf

Mount Kisco Diner Begins Expansion | Mount Kisco Real Estate

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The Mount Kisco Coach Diner, Gov. Andrew Cuomo’s favorite hangout, has begun construction on its expansion.

The diner is adding 1,250 square feet and 13 new parking spaces, along with providing a terrace for outdoor seating.

The project was approved by the planning board earlier this year after the Mount Kisco Village Board approved a zoning change in 2010.

Recently, the Paul Power’s structure, which exists south of the diner, was demolished, which was the first phase of construction.

Harry Georgiou, whose family owns the diner, said it will be much larger and more convenient for customers.

“We wanted to provide more space for clients and a nicer atmosphere,” Georgiou said. “We wanted to modernize the restaurant. It was time to expand.”

Plans for expansion have been in the works for five years. During that time, despite the recession, the diner’s business has remained steady, giving Georgiou confidence expansion was the right idea.

Georgiou’s father, Frank, a Somers resident, purchased the diner 18 years ago. Harry Georgiou, who lives in Queens, said it is in the family’s blood to provide service, hospitality, and good food.

“We’re very meticulous and we have very high standards,” Georgiou said. “We strive for perfection. We strive to the have the best service and the best quality food. We are open 24 hours, so no matter what time you come, you will have a great experience.”

Georgiou said he loves working in Mount Kisco and meeting all the nice people. He said many customers have become part of his family.

The cuisine is thought up by Michael Lombardi, who crafts exotic or unique specials daily, along with his burger of the week. The restaurant has an organic menu and Georgiou recommends the short ribs, prime meats or lobster rolls.

“We’re not your standard diner, we’re an upscale diner,” Georgiou said.

Cuomo, a Mount Kisco resident, named the diner his favorite hangout spot after he was elected governor and regularly stops by when he’s in the area. Singer Rob Thomas also is a regular.

During construction, the restaurant will be closed for two weeks, as it adds new booths, new tables and a new exterior. If all goes according to plan, the restaurant’s expansion will be finished before the new year.

The Mount Kisco Coach Diner has become an institution in the community and Georgiou said they get customers from all over Westchester and even Greenwich and Stamford. Georgiou said many customers from out of state will come via Interstate 684, and come back every year as a tradition.

“We get people from all over,” Georgiou said.

 

 

Mount Kisco Diner Begins Expansion | The Chappaqua Daily Voice.

Mount Kisco Diner Begins Expansion | Mount Kisco Real Estate

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The Mount Kisco Coach Diner, Gov. Andrew Cuomo’s favorite hangout, has begun construction on its expansion.

The diner is adding 1,250 square feet and 13 new parking spaces, along with providing a terrace for outdoor seating.

The project was approved by the planning board earlier this year after the Mount Kisco Village Board approved a zoning change in 2010.

Recently, the Paul Power’s structure, which exists south of the diner, was demolished, which was the first phase of construction.

Harry Georgiou, whose family owns the diner, said it will be much larger and more convenient for customers.

“We wanted to provide more space for clients and a nicer atmosphere,” Georgiou said. “We wanted to modernize the restaurant. It was time to expand.”

Plans for expansion have been in the works for five years. During that time, despite the recession, the diner’s business has remained steady, giving Georgiou confidence expansion was the right idea.

Georgiou’s father, Frank, a Somers resident, purchased the diner 18 years ago. Harry Georgiou, who lives in Queens, said it is in the family’s blood to provide service, hospitality, and good food.

 

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http://chappaqua.dailyvoice.com/business/mount-kisco-diner-begins-expansion