Tag Archives: South Salem Homes for Sale

This Carriage House With a Secret Pool Wants $85,000/Month | South Salem Real Estate

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This 25-foot-wide house on East 83rd Street was once J.P. Morgan’s carriage house, and if the 19th century industrialist could see it today he would either be really impressed or run away screaming, because the entire house—from lighting to music to thermostats—is controlled via touchpad. And that’s not even the most intriguing part: apparently, the kitchen floor can slide open to reveal a swimming pool. (The pool is not pictured, but that’s okay—it doesn’t sound like something people would want to see pictures of.)

The house’s owner, businessman Karan Trehan, bought it with his wife in 1995 and they renovated it together, filling the 7,200-square-foot building “with artwork and heavy Anglo-Indian furniture, reflecting their shared Indian background.” After the couple separated in 2007, Trehan renovated the house again to reflect it being a sick bachelor pad. All the art is now for sale, and the house is available to rent at $85,000/month. Make sure you get a look at that pool before you sign the lease, though.

http://ny.curbed.com/archives/2014/03/20/this_carriage_house_with_a_secret_pool_wants_85000month.php

 

Inventory of homes for sale soars 10 percent in February from a year ago | South Salem Real Estate

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Rising home prices are bolstering seller confidence, fueling rapid growth in the number of homes for sale in many markets in February, according to a report issued by realtor.com today.

Median list prices were up 7.6 percent from a year ago in February, to $199,000, and the inventory of homes for sale rose 10.1 percent, to 1.74 million. In other words, there were 160,000 more homes for sale than the same time a year ago.

Out of 146 markets tracked by realtor.com, 99 experienced annual growth in listings, with 63 of those markets seeing inventories swell by 10 percent or more.

Median list prices and inventory were up on a month-over-month basis as well, rising 2.1 percent and 4.3 percent, respectively, indicating that 2014 home sales, which got off to a slow start in January, have potential to grow as the spring buying season gets underway.

But even with the recent surge in listings, inventories “are still extremely low,” realtor.com said in summarizing the overall picture.

“Seller confidence is the factor to watch as we head into the spring homebuying season, and these are very encouraging indicators — not only are more homes coming onto the market, but typically we don’t see a rise in asking prices this early into the year,” said Steve Berkowitz, CEO of realtor.com operator Move Inc., in a statement. “This is the market these sellers have been waiting for.”

– See more at: http://www.inman.com/2014/03/18/inventory-of-homes-for-sale-soars-10-percent-in-february-from-a-year-ago/?utm_source=20140318&utm_medium=email&utm_campaign=dailyheadlinespm#sthash.7ipS3omW.dpuf

Zillow signs NY State MLS as latest member of partnership program | South Salem NY Homes

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Zillow is set to acquire listings directly from NY State MLS, a multiple listing service (MLS) with more than 10,000 members that covers all 62 counties of New York state.

The deal adds the MLS to a roster of others that have joined the Zillow Partnership Program while further tightening Zillow’s strong grip on New York.

In exchange for providing listings, Zillow will offer brokers and agents who belong to the NY State MLS enhanced branding and other perks, as it does for all MLSs that join the Zillow Partnership Program.

Zillow dangles such incentives because access to MLS feeds allows it to improve the freshness of its inventory. Listing feeds from some sources don’t allow for frequent updating, but direct feeds from MLSs let Zillow refresh listings as often as every 15 minutes.

“We understand our members’ desire to display the most up-to-date listing data while maintaining maximum exposure,” said Dawn Pfaff, president of NY State MLS, in a statement. “This partnership ensures listings sent to Zillow are updated multiple times per day and kept current for prospective homebuyers.”

Listings fed to the Zillow program appear on the Zillow Real Estate Network, which includes Yahoo Homes, Google Now, HotPads, HGTV’s FrontDoor.com and AOL Real Estate.

– See more at: http://www.inman.com/2014/03/03/zillow-signs-ny-state-mls-as-latest-member-of-partnership-program/?utm_source=20140303&utm_medium=email&utm_campaign=dailyheadlinespm#sthash.JCO3rqep.dpuf

Could You Afford a Median-Priced Home in These US Cities? | South Salem NY Homes

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According to a new report by HSH.com, an online mortgage and consumer loan information site, it depends. The cost of owning the roof over your head fluctuates considerably from city to city.

A hefty $115,500 annual salary will get you an average house in the San Francisco metropolitan area, where the median home price is $682,410, leaving you with a $2,700 monthly mortgage payment.

If that seems too expensive, simply head east to Cleveland, the cheapest city for housing on HSH’s list, where $19,000 a year in pay will buy you an average home with a $453 house payment. Median-priced homes in Cleveland go for $112,800.

In Seattle, a base salary of $59,130 is enough to purchase a median-priced home of $344,400. On the East Coast, Atlanta homes average $142,400, requiring a $24,391 paycheck to cover the $569 mortgage payment.

Do these numbers seem reasonable to you? Actually there’s a huge caveat with these figures.

Using its mortgage rate data and fourth-quarter median home prices from the National Association of Realtors, HSH.com calculated how much a homebuyer would need to earn to afford the principal and interest payments on a median-priced home. The figures do not include property taxes, insurance and other expenses.

 

http://finance.yahoo.com/news/could-afford-median-priced-home-225740361.html

Puget Sound area home prices up as much as 17% in January | South Salem NY Real Estate

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With more houses on the market and sales prices rising, the housing market is “definitely in full recovery mode” in the Puget Sound area, a Realtor said Wednesday.

The median price of King County houses and condos that sold in January was nearly $364,900, or 17 percent higher than in January 2013, according to the latest report from the Northwest Multiple Listing Service. Median sale prices in Pierce and Snohomish counties rose 12 percent and 14 percent, respectively.

“We are finally going to be looking at the ‘housing crisis’ in the rear view mirror,” said Mike Gain, CEO and president of Berkshire Hathaway HomeServices Northwest Real Estate. “In 2014 we are definitely in full recovery mode.”

The inventory of residences on the market, while improving, continues to be a source of worry, he said.

“Lots of buyers and not enough of the right inventory to satisfy our buyers’ wants and needs,” was how Gain described current conditions. “Following the worst year for inventory I have seen in my 35 years of practicing real estate locally, we are expecting the number of homes for sale to increase in 2014.”

 

http://www.bizjournals.com/seattle/news/2014/02/05/puget-sound-home-prices-up-as-much-as.html

Flipping Moves on Up as Profits Rise 19 Percent | South Salem Real Estate

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Higher prices and fewer foreclosures have not put a dent in the flipping business.  In fact, last year saw 156,862 single family home flips — where a home is purchased and subsequently sold again within six months — in 2013, up 16 percent from 2012 and up 114 percent from 2011, according to RealtyTrac’s Year-End and Q4 2013 Home Flipping Report.

Homes flipped in 2013 accounted for 4.6 percent of all U.S. single family home sales during the year, up from 4.2 percent in 2012 and up from 2.6 percent in 2011. Flips accounted for 3.8 percent of all sales in the fourth quarter, down slightly from 3.9 percent of all sales in the third quarter and down from 7.1 percent of all sales in the fourth quarter of 2012 — the highest percentage of sales represented by flips in a single quarter since RealtyTrac began tracking flipping data in the first quarter of 2011.

The average gross profit for a home flip — the difference between the flipped price and the price the flipper purchased the property for — was $58,081 for all U.S. homes flipped in 2013, up from an average gross profit of $45,759 in 2012. The average gross profit for homes flipped in the fourth quarter was $62,761, up from 52,746 in the fourth quarter of 2012, a 19 percent increase.

 

http://www.realestateeconomywatch.com/2014/01/flipping-moves-on-up-as-profits-rise-19-percent/