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Walking and Biking More Common in New Homes | Pound Ridge Real Estate

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Residents of newly built homes are more likely to bike or walk, according to 2013 American Housing Survey (AHS) data recently released by HUD and the Census Bureau.  The data show that nearly 44 percent of households in new construction either bike or walk, compared to about 40 percent of households overall (see the graph immediately below).

Bike-Walk

In general, walking is more common than biking.  A little under a quarter of households walk but don’t bike, while fewer than 4 percent bike but don’t walk.  The new-overall difference shows up most strongly in the households that both bike and walk: over 16 percent of households in new construction both bike and walk, compared to just under 12 percent of households overall.  This occurs even though, as the next graph shows, many trip  destinations are less often accessible by biking/walking to households in new homes.

Destinations

For example, a grocery store (the most commonly accessible destination in the chart) is accessible by biking or walking to about one-fifth of households in new construction, compared to more than one-fourth of households overall.  A similar new-overall difference is apparent for every destination down in the graph─down to the least often accessible school or work, accessible to 11.4 percent of households in new construction, and 13.4 percent of households overall.  It’s possible that, in some cases, homes may go up in a new subdivision before stores, banks, etc. in the surrounding area are completely built out.

On the other hand, new homes are more likely to be built in neighborhoods with amenities designed to facilitate walking and biking.  Over 61 percent of households in new homes report that their neighborhoods have sidewalks, compared to 55.7 percent of households overall.  New homes are also more likely to be located in neighborhoods that have well-lit sidewalks and bike lanes (see chart below).

Neighborhood

The implication is that, for the sheer number of households walking & biking, neighborhood features like sidewalks and bike lanes are more important than nearness of particular destinations, and these features are somewhat more common in new subdivisions.

 

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http://eyeonhousing.org/2014/12/walking-and-biking-more-common-in-new-homes/

 

Housing starts nosedive 14.4% in August | Pound Ridge Real Estate

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Privately-owned housing starts plunged 14.4% in August, according to the U.S. Census Bureau.

Starts were expected to drop after a strong July but not by this much.

Housing starts for July jumped to an annualized pace of 1.093 million units-up from 0.945 million units the prior month. July was up a sharp 15.7%.

Housing starts printed at a seasonally adjusted annual rate of 956,000, well below analyst expectations, but 8% above the August 2013 rate of 885,000.

Single-family units remained largely flat as they have for the past 20 months, multifamily starts fell from 396,000 to 343,000, or 13.4% for permits, and an incredible 31.5% for starts.

Single-family housing starts in August were at a rate of 643,000; this is 2.4% below the revised July figure of 659,000. The August rate for units in buildings with five units or more was 304,000.

Privately-owned housing units authorized by building permits in August were at a seasonally adjusted annual rate of 998,000. This is 5.6% below the revised July rate of 1,057,000, but is 5.3% above the August 2013 estimate of 948,000.

Single-family authorizations in August were at a rate of 626,000; this is 0.8% below the revised July figure of 631,000. Authorizations of units in buildings with five units or more were at a rate of 343,000 in August.

Privately-owned housing completions in August were at a seasonally adjusted annual rate of 892,000. This is 3.2% above the revised July estimate of 864,000 and is 16.9% above the August 2013 rate of 763,000.

Single-family housing completions in August were at a rate of 591,000; this is 8.2% below the revised July rate of 644,000. The August rate for units in buildings with five units or more was 292,000.

 

 

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http://www.housingwire.com/articles/31404-housing-starts-nosedive-144-in-august

China’s falling real-estate prices trigger protests, clashes | Pound Ridge Real Estate

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The sharp drop in China’s housing prices has led to an outburst of anger among property owners, leading to violent clashes in some cases, according to local media reports Tuesday.

In one case, scores of property owners surrounded a Shanghai sales office of Greentown China Holdings Ltd. 3900, +8.58% GTWCF, -33.19%  to protest the developer’s 25% cut to prices within a five-day period, according to a report on the NetEase NTES, +1.62%  news portal site 163.com.

Protesters held banners with slogans such as “You cheated us!” and “300,000 yuan [$48,750] worth of assets evaporate within five days — years of work in vain!” according to photographs of the demonstration posted on the site.

The report quoted a sales manager from Greentown as saying that the price-cut was aimed to boost sales and “cope with competition” from rival China Vanke Co. 2202, +1.48% the nation’s largest residential property developer.

In other Chinese cities, such confrontations between buyers and developers have turned violent.

In the eastern city of Jinan, banner-carrying owners blocked a street to protest another 25% price cut for a local housing development, this one conducted over the space of two weeks, according to the local-government-run Life Daily newspaper.

The protesters clashed with a group of counter-protestors suspected to have been hired by local developers, injuring some of the demonstrators and forcing the police to break up the fight, 163.com said in a separate report.

 

 

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http://www.marketwatch.com/story/chinas-falling-real-estate-prices-trigger-protests-clashes-2014-08-26

A Bronx Rite of Passage: Jump 110 Feet Into The Harlem River | Pound Ridge Real Estate

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C-Rock is a new documentary about a pastime that, for kids in the northwest Bronx, is “like a bar mitzvah.” Except that it entails jumping dozens of feet off of rocky cliffs into the Harlem River, where that waterway meets Spuyten Duyvil Creek. (It got its name because Columbia University athletes painted a big C on the rock face.) Fellow teens and Circle Line patrons bear witness to these daring dives, while older men—always men—reminisce about their plunges, which are virtually synonymous with adolescence. Director Jordan Roth spoke to Curbed about discovering the tradition, embedding himself with its practitioners, and what it was like to take the leap himself. Also, read on to find out how you can see the whole documentary.

Curbed NY: How did you first find out about this practice, both past and present?
Roth: The summer before we shot, I read a fantastic piece in the Times by Sam Dolnick about the tradition. I thought there must already be a doc about it because it immediately struck me as so cinematic. I researched more and was captivated by the whole thing.

It’s summertime fun, but people do get hurt >>

CNY: Explain the “levels” of cliff-jumping, to those who don’t know—the names of the different ledges, and all the rest.

Roth: There are jumping spots of varying heights along the cliff going from 25 feet up to about 110. The spots have names that are taken pretty seriously—some of them passed down from older generations. Also, some of the names are kinda dirty. Balls is at about 35 feet. (Editor’s note: you learn from the film that at that height, jumpers have to cover their, well, you know.)

C-Rock Documentary Daytime.JPG

CNY: What were a few of the most bizarre things you learned as you started to follow and interview the cliff-jumpers? Basically some highlights—bad, good, wild, whatever—of the production process.

Roth: What’s probably most surprising for people first learning about all this is that it is actually a tradition and that it does go back generations. But what I discovered while interviewing and following the guys was that everyone knows each other. I tapped into a network people of different ages and they all seemed connected by this place. That was amazing to me.

C-Rock Cliff.png
[Photo via Flickr/jag9889.]

There were so many highlights while shooting and discovering C-Rock. There were philosophies and strategies to jumping. There were anecdotes from earlier in the summer or from 40 years ago. Like, one kid in the late 60s landed badly and got a bruise all along the side of his body. He told his parents he was smacked with a broomstick. I heard a lot about the quality of the river water. It’s thankfully not bad now, but it was. Kids tried to avoid the “shit line” on the surface of the water.

There were also so many funny moments for us while shooting. The kids yelled ridiculous and terrible things to get each other to jump. Just them lounging on the rock, reminiscing, could also be hilarious. The rock face is sort of a summer afternoon home for them. Some guys leave shoes there, tucked away, because they prefer to jump in shoes. They’re like the Lost Boys, but with trash talk.

 

 

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http://ny.curbed.com/archives/2014/07/16/a_bronx_rite_of_passage_jump_110_feet_into_the_harlem_river.php

A Bland Condo Gets Color and Personality | Pound Ridge Real Estate

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After spending almost a year exploring the real estate market in San Francisco, Eunice Chang finally found a place she could call home. Although the condo looked like a bachelor pad and was located in a nondescript 1990s building, it was on the top floor, and the building sat on a small side street straddling the city’s vibrant Castro and Mission districts. “I loved the idea of a walking neighborhood,” she says.

With a hands-on attitude, treasure-hunting know-how and an ongoing desire to improve her space, the homeowner filled the interior with meaningful pieces and a soothing palette of blues and neutrals. “I don’t know if my home will ever be done,” admits Chang, the lead user experience researcher at Opower. “Every time my friends come over, something at my place has changed.”

Houzz at a Glance
Who lives here: Eunice Chang
Location: Castro neighborhood of San Francisco
Size: 1,073 square feet (100 square meters); 2 bedrooms, 2 bathrooms
Year built: 1992

transitional living room by Hoi Ning Wong
Hoi Ning Wong
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Excited by the potential of a south-facing living room, Chang tried to make the most of all the natural sunlight. Hardwood floors replaced old, tired carpeting, and fresh paint gave the walls new life. Pale aqua paint at the rear of the bookcase creates a vibrant backdrop for an ever-growing collection of mementos.

Wall paint: Muslin, Dunn-Edwards; accent wall paint: Opaline, Dunn-Edwards; leather chair: Cavett, Crate & Barrel; resin deer head: Z Gallerie; striped pouf: Target

transitional entry by Hoi Ning Wong
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Although the structure of the entry hall could not be altered due to strict condo rules, visitors are greeted by a bright aqua door.

Door paint: Fountain City, Dunn-Edwards

transitional entry by Hoi Ning Wong
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Chang’s design sensibilities and love of travel are apparent as soon as you enter the foyer. The sculptural piece of driftwood was a gift from a friend, and the woven bag is a souvenir from a vacation to Africa with her family.
transitional entry by Hoi Ning Wong
Hoi Ning Wong
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This wall-mounted rack was a quick DIY project. The piece of wood is an old floorboard found at Urban Ore, a salvage yard in Berkeley, and the decorative hooks are from Cost Plus World Market. The groove in the top holds postcards from family and friends. The rack extends the length of the entry hallway, making it both impactful and practical.
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http://www.houzz.com/ideabooks/27386186?utm_source=Houzz&utm_campaign=u518&utm_medium=email&utm_content=gallery6

Top 13 cities for freshly minted millennials | Pound Ridge Real Estate

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As a millennial myself and proud resident of the No. 8 city, I’m aware of the numbers of millennials topping off the final days of their college educations and entering the beginning stages of their career.

So where are they choosing to live, or better yet, where should they live?

Niche Ink has published a list of the best cities and neighborhoods for millennials. Factors involved in the study include: data from the U.S. American Community Survey, crime rates from the FBO and types of top entertainment attractions.

While the cities’ unemployment rate might be a key factor, I personally still cherish the added variables of the best shopping locations and best cultural attractions. After all, you need to look good at your first job and have someplace to go to keep life exciting.

The list covers the top 25 in all, but here are the top 13…

 

 

 

http://www.housingwire.com/articles/29677-top-13-cities-for-freshly-minted-millennials

U.S. 30-Year Mortgage Rates Decline for First Time in Four Weeks | Pound Ridge Real Estate

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U.S. mortgage rates for 30-year loans fell for the first time in four weeks, decreasing borrowing costs for homebuyers as the recovery in prices stretched into 2014.

The average rate for a 30-year fixed mortgage was 4.28 percent this week, down from 4.37 percent, Freddie Mac said today. The average 15-year rate slipped to 3.32 percent from 3.39 percent, the McLean, Virginia-based mortgage-finance company said.

U.S. home values continue to rise as buyers compete for a limited supply of properties for sale. Prices climbed 12 percent in January from a year earlier, the 23rd consecutive gain, Irvine, California-based CoreLogic Inc. said this week.

“Prices are still growing at very high rates because the markets are still tight,” Patrick Newport, an economist with IHS Global Insight in Lexington, Massachusetts, said in an interview yesterday. “We haven’t been building enough homes at high enough rates for five or six years.”

Rising prices and tougher credit standards have shut out some first-time buyers, slowing the pace of the housing recovery. First-timers accounted for 26 percent of purchases in January, down from 30 percent a year earlier and the smallest share in more than five years of data-keeping, according to the National Association of Realtors.

 

 

http://www.businessweek.com/news/2014-03-06/u-dot-s-dot-30-year-mortgage-rates-decline-for-first-time-in-four-weeks

Spring Thaw May Not Heat up This Housing Market | Pound Ridge NY Homes

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The severe winter weather has been a convenient scapegoat for the slowdown in the housing market. While many analysts and builders predict a significant pickup in activity in the spring, slack demand may continue to define an uneven recovery — even as green grass replaces ice in the coming months.

The Commerce Department said Wednesday that groundbreaking on new homes last month tumbled 16 percent to a seasonally adjusted annual rate of 880,000 units, the lowest level since September. The percentage drop was the largest since February 2011. Starts for December were revised up to a 1.05 million-unit pace from the previously reported 999,000-unit rate.

Warmer weather could certainly get more people out looking, but with monthly payments potentially much higher this year, new buyers will have to clear a high bar.

“There must be low demand — that’s what we’re seeing,” said Glenn Kelman, CEO of Redfin, an online real estate brokerage based in California. “We saw a huge spike in demand last year, which is why we were so confident the market had bottomed. … We’re not seeing the same thing this year, so even though there aren’t many homes for sale, there aren’t many buyers looking for them, either.”

 

 

http://www.nbcnews.com/#/business/real-estate/spring-thaw-may-not-heat-housing-market-n33531