Tag Archives: North Salem Homes for Sale

North Salem Homes for Sale

Zillow: Fewer homes underwater in second quarter | North Salem Real Estate

Although the percentage of underwater homeowners continues to heal, the remaining pain is left to struggling borrowers of low-price homes, according to an article in The Wall Street Journal:

About 28% of homes with a mortgage within the bottom third of home values were underwater at the end of the second quarter, meaning they were worth less than the balance of their mortgages, according to real-estate information service. That compares with about 16% of homeowners in the middle tier and 9.2% in the top tier.

As a result, the article explained that it could prevent owners from moving up to larger homes and thus put a damper on purchases by first-time homebuyers.

Overall, the percentage of homeowners who were underwater in the second quarter dropped to 17% from 24% a year ago.

Source: WSJ

Auf Wiedersehen German real estate? Not so fast | North Salem Real Estate

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As soon as someone mutters the words London property, the word “bubble” is never far away.

London house prices displayed a jaw-dropping 20 percent growth year-on-year in July– even though last week’s RICS indicator showed that the housing market is pausing for breath. Bank of England (BoE) Governor Mark Carney has sounded a warning on tougher mortgage rates and the expectation of higher rates.

But London isn’t the only place which is seeing a dizzying increase in property prices. Look no further than across the channel – to the euro zone’s economic powerhouse – Germany.

Major cities like Frankfurt, the financial capital, Munich with its famous beer gardens and proximity to the Alps and Stuttgart, the home of Mercedes and Porsche, are becoming increasingly attractive as a place to live and work. Germans from rural settings and immigrants are flocking to the cities.

But like in London, an equally potent driver of the property market in Germany is the good old “search for yield”.

http://www.cnbc.com/id/101926645?__source=yahoo%7Cfinance%7Cheadline%7Cheadline%7Cstory&par=yahoo&doc=101926645#.

Teatown Lake Reservation | North Salem Real Estate

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July 30, 2014

PROGRAMS THIS WEEK:

Advanced Registration is required for all programs. Unless noted, all programs meet in the Nature Center and are $7 per person or FREE for members. Please register by calling (914) 762-2912 ext. 110.

Black-lighting for Moths

Thursday, July 31

8 pm

Join Charlie Roberto as we light up the night to attract night flying insects. All Welcome. Free.

Great Hudson Estuary Fish Count

at Kathryn W. Davis RiverWalk Center

Kingsland Point Park, Sleepy Hollow, NY

Saturday, August 2

10 am

If you could lift the lid off the Hudson River in Tappan Zee Bay, what would you see? Catch the incoming tide with Teatown and Strawtown Art and Garden Studio at the Kathryn W. Davis RiverWalk Center in Sleepy Hollow, as we seine for fish and other creatures in the warm waters of the Hudson. We will focus on identification and record and share the results with other sites taking part along the river. Afterward mix paint and match the color of the River, and add sand from both shores of the wide bays to make a symbolic driftwood sculpture.

All Welcome. Free; Parking fee collected at park

Visit Teatown

1600 Spring Valley Road

Ossining, NY 10562

914-762-2912

www.teatown.org

Teatown Lake Reservation’s

mission is to inspire our community to lifelong environmental stewardship.

Nature Center hours:

9 am – 5 pm daily

Trails are open 365 days a year from dawn to dusk.

Click here for Teatown membership benefits, details,

and to purchase or renew

your membership online.

Your donation can make

an immediate impact and help

support our environmental education programs and the stewardship of our 1,000 acre preserve.

Shop on Amazon?

Click the link below and a portion of your Amazon purchase will be donated to Teatown!

Click here.

Upcoming Events and Workshops:

Moths in the Morning

Sunday, August 10

9:30 am

Meet at Cliffdale Farm to see the moths and other flying insects that were attracted to the black-lighting the night before. All Welcome. Free.

In the Nature Center Gallery:

Quiet Landscapes

Photography

By Richard Pileggi

On exhibit

July 5 – August 30

Click here for more info

Announcing the publication of:

Teatown’s Wildflower Island

by Lisa Fleck Dondiego

A privately printed, 80-page photo book with an Index identifying the flowers.

Foreword by Leah Waybright Kennell, Curator of Wildflower Island.

This wonderful book is available for

purchase in Teatown’s nature store for $45 plus tax.

Teatown Highlight:

Preview our Benefit Auction

Click here

www.teatown.org

Bank of America Merrill Lynch concludes Dodd-Frank killed housing | North Salem Homes

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Two analysts at Bank of America Merrill Lynch are celebrating the 4-year anniversary of Dodd-Frank, the financial reform law, by calling it “persistent financial repression.”

Analysts Chris Flanagan and Adam Katz joined a chorus of voices using the birthday opportunity to express displeasure of the legislation and disdain in the inability to effect more meaningful reform — that is one that promotes more responsible mortgage lending.

“In testimony to Congress on QRM this week, Mr. Frank noted changing the US residential mortgage market was foremost among the very purpose of the statute,” said Flanagan and Katz.

And change that market it did — by sucking the life out of it.

“We think persistently low mortgage application volumes and this week’s extremely weak new home sales report for June and May are natural outcomes of the legislation,” the analysts write, adding they don’t expect the next four years to be very different.

A Homebuilding CEO Nailed It On What’s Wrong With The Housing Market | North Salem Homes

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Prices are still on the rise, and activity is above crisis levels. But the pace of activity still seems sub-normal, which is being attributed to a combination of: lack of supply, the difficulty of getting a mortgage, and subdued activity among tradition first-time homebuyers.

The missing “first-time homebuyers” is a big source of discussion, as people theorize that the new generation just isn’t interested in homeownership. Or maybe they are interested in homeownership, but due to student loan debt and lack of jobs, they just can’t make it happen.

So what will get them into the housing market? Simple, strong job growth.

On his company’s quarterly conference call this past week (via Calculated Risk), Jeff Mezger, the CEO of homebuilder KB Home, said that there was some slight signs of renewed first-time homebuyer activity. During the Q&A portion of the conference call, Mezger was pressed on what specifically he was seeing. Here’s the key back and forth, where an analyst from JPMorgan asks for clarification on first-time homebuyer activity. Note the bolded part of Mezger’s answer:

Michael Rehaut – JPMorgan

That’s great. I appreciate that. And I guess second question for Jeff Mezger, as there are two Jeffs I have to distinguish. Jeff, you mentioned that in your opening remarks that there was evidence of a reemergence of the first-time buyer and I was hoping you could expand on that a little bit in terms of that if that’s something you are seeing in your own business itself and particularly given that you continue to perhaps shift to maybe away from the historically traditional first-time buyer more of a financially – more financially a stronger type of first time buyer that’s more financially able and more perhaps the move up community, so I was just wondering if this was something that you kind of saw specifically within your own business or if it was more just kind of general comments as it relates to perhaps mortgage lending standards or other trends that you see out there?

Jeff Mezger – Chief Executive Officer

Mike, it’s part of why I split it into the two different business dynamics we are dealing with today. In the higher income with land constrained areas I don’t know that our first-time buyer mix has changed. It’s a different first-time buyer I know it’s a higher income buyer than we would have seen 10 years ago. What I was trying to point out in the cities pick a Texas City because all four of the larger cities has solid job growth and real population growth going on today. And it’s a because of the job growth we are seeing more first-time buyers. They are not – it’s a well healed first-time buyer, but it’s not the high income first-time buyer like you would see in Orange County or up in the Santa Clara County. So I think it’s because you have job growth going on in those cities and that’s within our own business we are seeing this .

New York Ranks High Among Safest States To Live | North Salem Real Estate

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WalletHub, the personal finance social media network, recently ranked New York as the 10th safest state to live in.

WalletHub compared each of the 50 U.S. states and the District of Columbia in 26 different metrics. The data is broken down into categories that include workplace safety, emergency preparedness, home and community stability, traffic safety and financial security.

The Empire State ranked in the Top 10 in two categories: home and community safety (third) and financial safety (ninth). New York also finished in the top half in driving safety (13th), but ranked dead last in natural disasters (51st).

Massachusetts,ranked No. 1 overall, just ahead of New Hampshire. Neighbors Connecticut and New Jersey ranked ninth and 13th, respectively.

Nevada was ranked last in overall safety, coming in 51st

Drab to Fab: Unearthing Your Home’s Hidden Diamonds | North Salem Real Estate

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Every home has “that room” – the one space that’s desperately dated, in disrepair, or otherwise in need of serious help. Of course, that room usually is the one space that everyone can see (we’re looking at you orange kitchen, carpeted bathroom, and boring backyard). So, how do you transform the embarrassing into the astonishing? We’ll show you how to find your diamond in the rough.

Fixin’ the Kitchen

Not surprisingly, 33% of HomeAdvisor users reported that the kitchen was the room that could benefit the most from a refresh. And while many of us dream of gutting our kitchens, it’s possible to get a kitchen you can be proud by making a few key updates to your cabinets and countertops.

You probably don’t need to take a look at your cabinets to tell us whether you hate them or not. If you’re like many homeowners, you’re not too fond of them. Perhaps they’re broken and worn out. Or maybe they’re just plain ugly. Whatever the case, updating them will have a huge impact on your kitchen’s look. The question is: do you need to replace them, reface them, or simply paint them? In many cases, the answer depends on your budget. To help you decide, we recommend taking a look at our Cost Guide to see how much others in your area are paying for similar projects.

Let’s talk about your counters. If you aren’t happy with your kitchen there’s a good chance your countertops are partially to blame. While the reasons for your disdain are probably many, there are a couple of things you can do to rid yourself of your ugly counters. Your first option is to replace them. While this is the spendiest option, it’s the option that will have the biggest impact on the look and value of the room. Your other option (if you have laminate counters) is to resurface them. Far less expensive than replacing your countertops, resurfacing your counters is a labor-intensive, yet affordable option that can change the look of your kitchen without breaking the bank. To learn what option is best for you, we recommend talking to a counter pro.

Bathroom Breakthrough

Don’t like your bathroom? You’re not alone. You could open the checkbook and remodel your bathroom. Or you could make a few strategic updates that are guaranteed to have an impact.

When it comes to a bathroom update, one of the biggest areas of opportunity is to replace your shower or bathtub. Like most fixtures, bathtubs and showers start to show their age after a number of years. Sometimes the fix is as easy as having the tub refinished. This is a great option if you have a period tub that will be costly to replace. If refinishing is out, spending the money on a high-quality replacement will get you a tub or shower that will improve the look of the room and the value of your home.

If replacing your tub isn’t in the cards, replacing your cabinet hardware and light fixtures are affordable updates that can have freshen up your dated bathroom. While both jobs are doable DIY-projects, replacing your light fixtures can be tricky, especially if you’re not comfortable working with electricity. If you’d rather contract the job out to a pro, we can help you find a pro you can trust. (NOTE: When working with electricity, always make sure to turn the power off at your service panel.)

Luxe Landscaping

When it comes to remodeling, the yard is often one of the last spaces to be addressed. Though this makes perfect sense from a budget standpoint, it makes less sense when you consider how visible your yard is and how much curb appeal can affect your home’s value. So, what can you do to transform landscaping your loathe in a yard you can be proud of? Here are a few options.

Perhaps the project that will have the most immediate impact is clearing out or trimming overgrown shrubs, bushes, and trees. While it can be very labor intensive, cleaning up your landscaping is a project that can be tackled in as little as a few hours or as long as a weekend. Or you can clear your calendar and hire a landscaping pro to do the job for you. Think you look good after a haircut? Just imagine how your yard will look.

http://welcome.homeadvisor.com/diamondintherough?m=homesense&entry_point_id=28038335

Realtors expect median home prices to rise 4% | North Salem Real Estate

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Realtors expect home prices to continue to appreciate over the next year, with a median price increase expected of 4% over the next 12 months, according to the latest survey of the National Association of Realtors in their confidence index.

The index reflects the responses of more than 3,000 NAR members about their sales transactions.

The full report can be read here.

“Slower sales due to tight credit conditions, declining affordability due to the recent price growth amid modest income gains, and fewer distressed sales likely account for the modest expectations,” economists note in the report.

Some states are slightly more optimistic about home price increases, such as in Florida, where low housing inventories and high demand are expected to boost prices.

http://www.housingwire.com/articles/30288-realtors-expect-median-home-prices-to-rise-4

$35M Kessler Canyon Ranch Wants $1M a Square Mile | North Salem Real Estate

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24 images

Location: Garfield County, Colo.
Price: $35,000,000
The Skinny: According to the listing, Cowgirl magazine once said of this ranch that “Arriving at Kessler Canyon is like entering a new state of mind”, which tells us that there is such a thing as Cowgirl magazine, and that the scenic beauty and luxury of the place is impressive even to hard-bitten, outdoorsy travel journalists. Sitting on 35 square miles of rugged western Colorado land (a spread only slightly smaller than the city of Boston), Kessler Canyon offers plenty of wilderness activities for its next owners and dozens of their paying guests. Originally built as a private ranch by the Kessler family, it’s currently being used as a resort featuring a five-star, eight-bedroom hunting lodge, a six-suite guest house, and five guest cabins, as well as a luxurious owner’s suite. Outdoors there’s a skeet shooting range, boating, and plenty of fish and game to hunt. Inside there’s a wine tasting cellar, something called the “Poseidon Spa,” and the “Safari Lounge,” not to mention a rod and gun room. It’s asking $35M, and can continue to be run as a resort, or can be converted back to a private retreat.

http://curbed.com/archives/2014/06/09/35m-kessler-canyon-ranch-wants-1m-per-square-mile.php