Tag Archives: North Salem Realtor

North Salem Realtor

6 Trees You’ll Fall For | North Salem NY Real Estate

he leaves are changing, the nights are crisp. In much of the world, gardeners are laying down their tools, cleaning up their gardens and perhaps breathing a sigh of relief that another gardening season has come and gone.
But the planting season isn’t over. Fall — particularly until late October in colder areas of the country and until November in the South — is the preferred time to plant many species of trees. Planting conditions are near perfect: The soil is warm, the sun isn’t too hot and there’s usually more rain. The weather that makes people say, “Fall is my favorite time of year,” is ideal for many newly planted trees, too.
Different types of trees prefer different living conditions. Not every tree should be planted in fall, of course. The reason is in the roots: Trees with larger, thicker roots that reach deeper into the soil, such as magnolias and oaks, are better off planted in spring. Trees best planted in fall, such as crabapples, maples, elms and honeylocusts, have fibrous root systems shallow enough to readily reach water and nutrients. This allows them to settle in and put out new root growth before the weather turns frigid.

traditional landscape by Liquidscapes

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One of the best trees for small gardens, crabapples (Malus spp.) top out at a manageable 20 feet. They flower gloriously in the spring in shades of light pink, dark pink or white. Fruits follow, and although they must be cooked for humans to find them palatable, birds depend on them to get through the winter. Hardy to zones 5 (to -20°F) to 8 (15°F), crabapples need full sun and well-drained soil.
traditional landscape by Noelle Johnson Landscape Consulting

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At the garden center, look for trees that are in containers or that are balled and burlapped. These can be planted in fall. Dormant (bareroot) plants must be planted in spring.
When buying a tree, always check to be sure it’s healthy: no dead branches, splits or damage to the trunk. A damaged trunk interrupts the flow of water up and sugars down the tree. A tree may recover, but a damaged trunk can ultimately kill a tree.
farmhouse landscape by Wagner Hodgson

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Some Great Trees for Fall Planting
Native to North America, honeylocusts (Gleditsia triacanthos) have fern-like leaves that provide airy shade, so they are a good choice if you want shade but not too much. The species has fierce thorns and grows well over 80 feet tall, but cultivars are thornless and grow to about 40 feet. They need full sun and are hardy in zones 3 (-40°F) to 7 (0°F).
traditional landscape by Dear Garden Associates, Inc.

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Green hawthorn (Crataegus viridis) is a lovely tree with three seasons of interest: white flowers in spring, red fall foliage, and in winter, red berries that birds adore. Hardiest in zones 5 (-20°F) to 7 (0°F), hawthorns stay under 40 feet. They require full sun and do best in soil that’s not too rich or too moist. The cultivar ‘Winter King,’ shown here, is especially disease-resistant and drought-tolerant.

Your relationships with inspectors don’t have to be scandalous | North Salem Real Estate

In a recent Broker Notebook column, Inman News columnist Teresa Boardman discussed how, in her view, taking care of the buyer’s inspection is a questionable business practice. As someone who has been on both sides — a former real estate agent and current owner of a home inspection franchising company — I understand where the author is coming from.

I see her point of view and agree to a certain extent. But I don’t believe home inspectors and real estate agents fostering trusted networking relationships is necessarily a questionable practice.

On the contrary, I think it can really help the customer. Undoubtedly, it can become a problem when home inspectors and real estate brokers become too buddy-buddy for the homebuyer’s own good.

But, having been on both sides, I believe that when a real estate broker finds a certified professional home inspector who consistently offers an unbiased third-party look at a property, it is oftentimes in the best interest of the homebuyer to utilize that trusted home inspector.

Let’s consider an example from that highly popular Fox program “Scandal” for clarity — and please disregard the fact that the name of the show is “Scandal” for the purpose of this analogy.

Those who have watched the series know that the lead character, Olivia Pope, is a professional fixer who is hired by clients to fix things, no matter the problem. Along with her associates, Pope uses any means necessary to protect the client. In a dramatic turn of events during one episode, one of her clients is working against Pope’s dearest friends

 

Read more…

 

http://www.inman.com/2013/09/27/your-relationships-with-inspectors-dont-have-to-be-scandalous/#sthash.wqvhMii9.dpuf

Should you consider an adjustable-rate mortgage? | North Salem Homes

It’s getting harder for many first-time buyers to afford a home in many markets across the country. The average rate on a 30-year, fixed-rate mortgage has climbed 16% in the past year, at the same time that the median home price shot up 14%.

In the past couple of months, lenders say, buyers looking to lower their monthly payments have started inquiring about adjustable rate mortgages, those riskier mortgages often blamed for the housing bust.

“We are definitely seeing more interest in ARMs,” says Malcolm Hollensteiner, director of retail lending for TD Bank.

Can they be trusted this time around? Who should consider these loans, which vary in rate after an initial fixed period? And who should stick with the standard 30-year fixed-rate loans?

In this September installment of Buying Advice, we’ll school you on the pros and cons of today’s adjustable-rate mortgages, check in with the latest housing statistics and help you understand origination fees when shopping for a mortgage.

 

 

http://realestate.msn.com/

Economists Expect Fed to Cut Asset Purchases Next Year | North Salem Real Estate

Businesses economists surveyed by the National Association of Business Economists believe there is an 80 percent probability the Federal Reserve will reduce its purchase of assets next year and 45 percent believe both purchases of Treasurys and mortgage-backed securities will be reduced this year.  The Fed’s asset purchase program has been keeping mortgage rates are record lows in recent years.

In light of their expectations the purchasing program will decline next year, which is likely to raise mortgage rates substantially, the economists’ expectations for slower home price growth in 2014 relative to 2013.

Home prices are likely to grow 6% in 2013, which is an upward revision from the last NABE survey in May, when panelists suggested a 4.4% increase. Moreover, panelists suggest that home prices will grow at 4.8% in 2014, which is an increase from their 4% estimate for 2014.

They estimate that real residential investment will grow 13.8% in 2013, which is an increase from the 12.1% increase in residential investment in 2012, and that it will grow 14% in 2014. Moreover, housing starts are estimated to grow at 0.95 million units in 2013 and at 1.16 million units in 2014, which is an improvement from 0.78 million housing starts in 2012.

Regarding asset purchases, the economists believe that there is a 45% probability that the Fed will reduce both the monthly purchases of $40 billion in mortgage-backed securities and the monthly purchases of $45 billion in Treasurys and a 19% probability that these monthly purchases of Treasurys and mortgage-backed securities will not be reduced.

They believe that there is a 20% probability that the asset purchases of the $45 billion in Treasurys will be reduced, with no change in the monthly purchases of the mortgage-backed securities; and a 15% probability that the asset purchase of mortgage-backed securities will be reduced, but that the purchases of Treasurys will be unchanged.

 

 

http://www.realestateeconomywatch.com/2013/09/

5 Ways to Use Video to Improve Your Social Media Marketing | North Salem Real Estate

Are you thinking about adding videos to your social media mix?

Do you want to boost your awareness and increase engagement?

Social media networks provide a lot of video options.

From Google+ Hangouts to Twitter’s Vine and Facebook’s launch of Instagram Video, video is fast becoming an essential part of any business’s online marketing strategy.

In this post, I’m going to show you how to incorporate video from 5 platforms into your social media strategy.

#1: Vine Video

For those who aren’t into complex video production, Vine lets you create simple, six-second looping videos to share on Twitter and Facebook.

Showing off products at Walgreens in a Vine video.

 

Some brands on Vine include Xbox, HTC, Puma, Urban Outfitters and Walgreens.

Here are some ways businesses can use Vine to support strategic goals.

Tease or Demo a Product

In six seconds, you can show off the best features of your business’s products or tease a new product launch.
The Glitch Mob used Vine to tease the preview of their new album.

Preview an Event

Got an upcoming webinar or conference? Give people a quick snippet of what they can expect with a Vine video. Take them behind the scenes of the preparation and make video a part of your event marketing strategy.

Showcase Your Portfolio

Share a six-second video sweep of your latest interior design creations. It’s more powerful than a flat photo because potential customers experience your work in context.

Pulp Design Studio used Vine to showcase their new spring line of silk florals.

Take Fans Inside

Take your fans inside your office, your store, your restaurant or any other place they usually can’t go to help them get to know your business on a more personal level. Show employees at work, hanging out and having fun. Show that the people inside your company are passionate about what they do and customers will be more confident in your service.

Is Housing A Bubble In 2013? | North Salem Real Estate

I’m frequently asked if home prices are a bubble now. There’s certainly reason to wonder. In fact, I get that question a lot. To lay the groundwork, I recently explained what a speculative bubble is. The key is that prices are being bid up substantially by people expecting a short-run gain. Price can rise because of fundamentals, such as greater demand or limited supply. Such price increases are not a bubble. However, fundamental changes can trigger growth, which sometimes leads people to believe the growth will continue, in turn leading to speculative buying.

Look at these home price increases, each calculated over the past 12 months:

Case-Shiller 20-city index:                                          +12.1% FHFA’s House Price Index:                                           +7.3 percent CoreLogic:                                                                         +11.9% Trulia Asking Prices:                                                    +11% New single family home median:                             +7.4% National Association of Realtors existing homes: +12.2%

So do all of these statistics point to a bubble?

Is there good reason for home prices to rise? Sure there is. Look at the underlying demand growth. Population is growing, though slower than in the past. The number of people living in a household has dropped from its peak in 2008. That means we need slightly more houses for a given number of people. Mobile home sales have dropped so sharply that they hardly play a role in national statistics anymore. We need about 1.2 million new housing units per year, on average. Maybe it’s only 1.1 million, but it’s certainly something in that neighborhood. Housing completions last year totaled 650,000 units, far short of our average need.

We managed with low levels of new construction because we entered this era with a large overhang of houses built in the boom. We have now brought that overhang way down. The vacancy rate of non-rental housing peaked at nearly three percent but has dropped to just 1.9 percent. The long-run average is about 1.5, so we’re getting close to normal. For rentals, vacancy is down to 8.2 percent from a high of 11 percent. Average is about seven percent, but there was some drift up to eight percent even in the 1990s.

 

 

read more…

http://www.forbes.com/sites/billconerly/2013/08/13/is-housing-a-bubble-in-2013/

 

Facebook Reveals Most Users Are Mobile: This Week in Social Media | North Salem Realtor

Welcome to our weekly edition of what’s hot in social media news. To help you stay up to date with social media, here are some of the news items that caught our attention.

What’s New This Week?

Facebook Reveals 78% Of US Users Are Mobile: TechCrunch reports “a new level of transparency from Facebook will help the world see whether its mobile growth is entirely propped up by international users that don’t earn the company as much money.”

Facebook mobile users continue to grow.

 

Yelp Introduces the Ability to Write and Publish Reviews on Mobile: “Yelpers can now contribute their useful, funny and cool reviews directly from their Yelp mobile application (available today on iOS and coming soon to Android).”

“Any photos that a Yelper has taken of the business they are reviewing will now appear in-line with their mobile reviews.”

Google+ Adds SoundCloud Embeds: SoundCloud works “together with Google to make it easier than ever to reach your audience by sharing sounds to Google+.”

Closing Costs Keep Pace with Prices | North Salem Real Estate

Cash-strapped home buyers struggling with soaring home prices have an unpleasant surprise awaiting them at the closing table. Closing costs are rising nearly as quickly as home prices.

On average, mortgage closing costs rose 6 percent over 2012 to $2,402, according to Bankrate.com. Origination fees accounted for the bulk of the increase, rising 8 percent, while third-party fees for services like title and appraisals edged up 1 percent to $672.

Hawaii’s average closing costs of $2,919 are the highest in the nation. Alaska ($2,675), South Carolina ($2,658), California ($2,639) and New Mexico ($2,566) join the Aloha State in the top five.

Wisconsin ($2,119), Missouri ($2,188), Kansas ($2,193), Michigan ($2,203) and Washington State ($2,208) comprise the bottom five.

“It’s unlikely that you will move to Wisconsin solely to pay lower closing costs, but you should shop around and compare fees from different loan originators to make sure you get the best deal in your area,” said Polyana da Costa, senior mortgage analyst, Bankrate.com.

Closing costs
2013
rank

2012 rank

State

Lender’s
origination fees

Third-party
fees

Origination plus
third-party fees

12Hawaii$1,970$949$2,919
24Alaska$1,925$750$2,675
36South Carolina$1,935$723$2,658
435California$1,977$662$2,639
543New Mexico$1,807$760$2,566
68North Carolina$1,840$718$2,558
718New Jersey$1,804$741$2,545
834Oklahoma$1,919$600$2,519
920Florida$1,798$719$2,517
107Delaware$1,742$760$2,502
1127Ohio$1,803$693$2,496
1211Georgia$1,816$674$2,490
133Texas$1,690$778$2,468
14*26Pennsylvania$1,920$540$2,460
14*13North Dakota$1,797$663$2,460
1624District of Columbia$1,826$623$2,449
1722Montana$1,767$680$2,446
1819Louisiana$1,782$662$2,443
1933Maryland$1,816$624$2,441
2031Tennessee$1,806$631$2,437
2121Connecticut$1,757$680$2,436
2236Maine$1,761$647$2,408
2349Idaho$1,767$641$2,407
2438Iowa$1,757$647$2,403
2541Arkansas$1,782$614$2,396
2628Indiana$1,732$656$2,387
2748Colorado$1,758$625$2,383
2817Kentucky$1,732$649$2,381
2937Arizona$1,752$621$2,372
3046Oregon$1,707$663$2,370
3123Virginia$1,718$650$2,369
3244South Dakota$1,732$617$2,349
3339Alabama$1,721$627$2,348
3415Rhode Island$1,686$660$2,347
3551Nevada$1,642$704$2,346
3610Nebraska$1,656$689$2,345
371New York$1,504$827$2,331
3840Mississippi$1,682$639$2,320
3945Utah$1,663$653$2,316
4050Wyoming$1,678$623$2,301
4114Massachusetts$1,601$699$2,300
4216West Virginia$1,578$705$2,283
4329Minnesota$1,641$612$2,253
4412New Hampshire$1,576$676$2,252
4542Vermont$1,578$667$2,245
469Illinois$1,591$647$2,238
4747Washington$1,603$605$2,208
4832Michigan$1,591$611$2,203
4930Kansas$1,558$635$2,193
5025Missouri$1,542$646$2,188
515Wisconsin$1,438$682$2,119
Average$1,730$672$2,402

*Denotes a tie

 

 

Closing Costs Keep Pace with Prices | RealEstateEconomyWatch.com.

Competition Cools in Overheated Markets | North Salem Real Estate

In one more indication that rising interest rates and replenished inventories are dampening hot markets, the Seattle online brokerage that coined the term “flash sale” reports that the percentage of multibid offers in the largely West Coast markets it tracks has fallen over the past three months.

In June, the percentage offers tracked by Redfin that were facing competition fell to 68.6 percent, down from 69.5 percent in May, and down from its peak of 75.7 percent in March. The average weekly 30-year fixed mortgage rate rose from 3.81 percent in late May to 4.46 percent as of late June, according to Freddie Mac. During that period, the number of Redfin’s home-buying customers taking home tours fell 1.9 percent and offers dropped 5 percent. Inventory has been climbing since April and saw a 17 percent year-over-year jump in May.

“I have noticed a marked change in competition just over the last few weeks,” said John Venti, a Redfin agent in Los Angeles, where still 86.1 percent of Redfin’s offers faced bidding wars last month. “Each of the last three offers I wrote was accepted without a counter-offer, which has been unheard-of in LA, where a home in a popular neighborhood has typically attracted 30 or 40 offers over the last several months.”

The housing market’s easing has not been felt evenly across the country, however. The Baltimore and Washington DC metro areas saw the largest month-over-month drops in the percentage of offers Redfin agents wrote that faced bidding wars, falling by 11.2 and 6.8 points respectively. Meanwhile, San Diego, Orange County, CA and Boston became more competitive from May to June, with bidding war rates increasing by more than 4 percentage points.

The table below ranks the hottest real estate markets in order of competitiveness.

Competitiveness RankingMarketPercent of Offers that Faced Competition, June 2013Percent of Offers that Faced Competition, May 2013Percent of Offers that Faced Competition, June 2012Percent of Winning Offers that Were Over Asking PriceAverage Difference Between Offer Price on Winning Offers & Asking Price
#1San Francisco

89.7%

87.9%

83.8%

92.1%

9.3%

#2Orange County, CA

88.6%

83.9%

84.3%

45.5%

-0.7%

#3Los Angeles

86.1%

86.1%

72.8%

53.1%

-1.6%

#4San Diego

81.9%

72.6%

80.2%

39.3%

-3.2%

 

RealEstateEconomyWatch.com » Competition Cools in Overheated Markets » Print.

7 Reasons to Fear the Housing Bubble | North Salem Real Estate

1. Healthy price rebound or too much, too fast?

The one-year period between March 2012 and March 2013 saw the most significant rise in housing prices since April 2006, with property values jumping up 10.9 percent. This number was markedly higher in certain areas, with San Francisco and Phoenix experiencing a gain in prices of more than 20 percent. While it is true that consumer sentiment is on the rise and spending is increasing, the availability of easier credit helps push sales higher and offer up a dangerous metric for those worried about future bubbles. As mortgage rates continue to be quite low — falling from 3.78 percent to 3.59 percent since May of last year — lenders are picking up steam in doling out cash; a feature that is capable of driving housing prices past what is likely sustainable.

 

7 Reasons to Fear the Housing Bubble | Wall St. Cheat Sheet.