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Tag Archives: Mt Kisco Luxury Real Estate
10 cities where ordinary people can no longer afford homes | Mt Kisco NY Homes
It now seems pretty clear that late 2012 or early 2013 was the ideal time to purchase a home: Real-estate prices and interest rates were both near record lows, creating an unprecedented buying opportunity for those who could muster a down payment and qualify for a mortgage.
Home affordability is still pretty good by historical standards, but typical buyers are once again being priced out in at least two dozen markets ranging from coastal hotspots to lower-cost inland cities. Three factors are pushing the cost of owning a home beyond the financial reach of ordinary families: Mortgage rates are ticking upwward as the Federal Reserve backs away from the super-easy monetary policy of the past five years. Home prices are rising as the economy recovers. And incomes are barely budging, which means typical families are once again falling behind as they try to bank enough to buy a home.
We used data from research firm RealtyTrac to determine where housing affordability is deteriorating the most. At the top of the list is Salinas, Calif., where a median-priced home rose 40% from the end of 2012 to the end of 2013, to $388,000. When rising interest rates are factored in, the income required to purchase a typical home rose by a whopping 58%.
The 10 areas in the list below are ranked by the increase in income required to buy a typical home from December 2012 to December 2013. We also included RealtyTrac’s affordability-index rating for the county each city is located in, to exclude cities in which required incomes have risen but homes are still relatively cheap. (The affordability index represents the median income per county as a percentage of the required income for a typical home purchase, so cities with a rating below 100 are less affordable while those above 100 are more affordable). We also grouped cities in northern and southern California into two entries, since there are so many of them. Here are the 10 areas where home affordability is deteriorating the most.
7 Ways Homebuyers Can Gain an Edge This Spring | Mt Kisco Real Estate
Mt Kisco Real Estate Weekly Report | Mt Kisco Homes
| Mt Kisco NY Weekly Real Estate Report | 2/27/2014 | |
| Homes for sale | 38 | |
| Median Ask Price | $750,000.00 | |
| Low Price | $339,000.00 | |
| High Price | $4,900,000.00 | |
| Average Size | 3136 | |
| Average Price/foot | $326.00 | |
| Average DOM | 107 | |
| Average Ask Price | $1,059,995.00 | |
Here’s Why Real Estate Will Have an Excellent Spring | Mt Kisco NY Real Estate
There’s no getting around it: It’s been a brutal winter in many parts of the country. And much of the negative economic data we’ve seen recently has been driven by the unusually harsh weather.
This is especially true in housing, where new mortgages have declined and housing starts have fallen considerably. However, I think there may be a very positive spring on the horizon for real estate as built-up demand and favorable buying conditions create a “perfect storm” (pun intended) of real estate activity.
Housing starts At first glance, the recent housing-start data looks atrocious, dropping by 16% from December to January. The rate of housing starts is lower than a year ago, even though the market improved throughout 2013.
Even the number of new housing permits — a good indicator of the building activity to come over the next couple of months — dropped. January’s rate of housing permits was 5.4% lower than it was in December, which indicates that February’s housing starts data might be even worse.
This makes sense, and I wouldn’t be surprised if the actual number comes in much worse than even the lowest estimates. February’s weather has been terrible, and of the permits that were initiated, weather delays may have prevented the actual construction from commencing.
On the other hand, once the weather gets nicer, homebuilders may have a backlog of new homes to build that they haven’t been able to start. Along with that, they could see more buyers coming into the market simply because better weather makes it more enjoyable to go out and shop for a house. After all, who wants to shop for a house in a foot of snow?
Mortgages are lower despite decent interest rates Although interest rates on mortgages are higher than they were last year, they definitely seem to have stabilized as a result of the Federal Reserve’s long-awaited taper at the end of 2013.
However, despite the stabilizing rates, mortgage applications fell by 8.5% in a recent report. However, a good chunk of the drop in mortgage applications is due to the 11% drop in refinancing applications, which is included in the total number. This makes sense since as rates rise, there’s progressively less of a financial case for refinancing.
Mount Kisco Native Documents History Of Mount Kisco Golf Club | Mt Kisco NY Real Estate
From caddy, to tournament champion, to now historian, Garth Bishop’s love affair with the Mount Kisco Golf Club has lasted a lifetime.
The Mount Kisco native, 59, has written an article detailing the club’s history dating back to the early 20th century, and is in the process of writing a book on the subject.
“My hope for the book is to make sure that the history gets recorded, period,” he said. “There are some things that need to be set in stone for the record before it gets missed forever.”
Bishop spent his summers caddying at Mount Kisco Golf Club starting at the age of 12. He started playing the game at Geneva College, and was a member from 1978 to 1987.
“In an effort to learn more about the Golf course homes for sale I’ve done some research over the last 35 years because it seems to have some sentimental value to me,” he said.
That research has included collecting newspaper articles, brochures, pamphlets, photos and anything he can get his hands on.
Before taking its current name from a failed competitor in 1941, the club was known as the Lawrence Family Country Club, which opened for play in 1930 to this golf community homes. A few years earlier, Lawrence Properties of Westchester County acquired 1,000 acres of land in town, including the famous 436-acre Annandale Farm.
http://mtkisco.dailyvoice.com/neighbors/mount-kisco-native-documents-history-mount-kisco-golf-club
8 Ways to Create a Neighborly Front Yard | Mt Kisco NY Homes
Dustin Hoffman sells Upper West Side pad for $21M | Mt Kisco Real Estate
Top 5 trends from the 2014 Builders’ Show | Mt Kisco NY Homes
Some 75,000 builders, designers, remodelers, and more descended on Las Vegas last week for the 2014 International Builders’ Show. For the first time ever, the show shared the stage with the Kitchen and Bath Industry Show. Add in a steadily improving housing market, and there was plenty of pep on the floor of the convention center. There was also a lot of ground to cover, including 1,220 exhibitors spread across 650,000 square feet. Our editors and market analysts managed to identify the key themes and hottest products. If you’re considering a move, a remodel, or a brand new home, be sure to take note.
Speedy appliances. Pressed for time during meal prep? We saw a bevy of appliances that could short cut the process, including the pricey Viking Professional TurboChef Double Oven, which uses the same high-speed cooking technology used in places like Starbucks and Dunkin’ Donuts. Viking claims the commercial unit can cook food 15 times faster than conventional ovens. It should be out in late 2014 for over $10,000.
If that’s not in the budget, consider a new steam oven, which Bosch CEO Michael Traub called a “key ingredient of the changing American kitchen.” Besides faster cooking, the roughly $3,000 Bosch Benchmark Steam Convection is being promoted as a healthy compliment to your conventional oven, one that will preserve nutrients, flavors and colors in food and retains moisture. See how other new steam ovens did in Consumer Reports’ tests, as well as additional tips for creating a time-saving kitchen.
When it comes time for clean up, Electrolux has a new QuickWash dishwasher with a 30-minute quick cycle that claims to get dishes just as clean as a normal cycle. And for your laundry room, Electrolux also featured a matching washer and dryer that it says can clean two outfits in less than 30 minutes.
http://homes.yahoo.com/news/top-5-trends-2014-builders-show-193000338.html
How to sell a home, despite winter wonderland | Mt Kisco NY Real Estate
Inch upon inch of snow is piling up, and the desire to stay home curled up by the fire is becoming harder to turn away from: welcome to winter.
But despite continued snow flurries, home shopping is still growing.
According Zillow’s (Z) latest report, the online real estate marketplace reached a record number of unique users in January 2014, soaring to 70 million.
So how can real estate agents capitalize on this secret fountain of potential homeowners?
Zillow Real Estate Expert Brendon DeSimone outlined three tips for sellers and agents looking to sell a home during winter season.
One of the biggest points DeSimone emphasized was the need to have strong online photos of your house. Especially during the winter, buyers are shopping online all day.
“Nowadays, you only have one shot to make a good impression, which is your web appeal,” DeSimone explained.
Before, a seller would only have to worry about whether the house had good curb appeal.
“Now your first impression is on the web. Spend as much time and money for the photo shoot as you would for the first open house,” he said.