Tag Archives: South Salem Homes for Sale

Purchase index plunges 16% year-over-year | South Salem NY Homes

A week after a free-fall of 9.2%, mortgage applications continued their decline with a 0.2% decrease from one week earlier, according to data from the Mortgage Bankers Association’s weekly mortgage applications survey for the week ending June 27, 2014.

The Market Composite Index, a measure of mortgage loan application volume, decreased 0.2% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 1% compared with the previous week.

The Refinance Index increased 0.1% from the previous week. The seasonally adjusted Purchase Index decreased 1% from one week earlier. The unadjusted Purchase Index decreased 1% compared with the previous week and was 16% lower than the same week one year ago.

“The mortgage industry has yet to see purchase activity make up for the drop in refinance volume,” said Quicken Loans vice president Bill Banfield. “Lenders who are able to focus on client experience are bucking this trend and gaining market share despite the recent drops in volume overall.”

The refinance share of mortgage activity increased to 53% of total applications from 52% the previous week. The adjustable-rate mortgage share of activity remained unchanged at 8% of total applications.

http://www.housingwire.com/articles/30523-mortgage-application-decline-continues-after-last-weeks-free-fall

Zillow and Douglas Elliman Real Estate Enter Into Marketing Partnership | South Salem NY Homes

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Zillow Inc. and Douglas Elliman Real Estate, one of the largest real estate brokerages in the nation and New York City’s largest residential brokerage, announced they have entered into a new strategic marketing partnership. All of Douglas Elliman’s listings will appear as featured listings on the Yahoo!-Zillow Real Estate Network, the largest real estate network on the web, via a direct feed from Douglas Elliman. The direct feed ensures accurate and up-to-date information is being shared with home shoppers from across the many regions Douglas Elliman serves, including New York, Westchester/Putnam, Long Island, The Hamptons, South Florida and Los Angeles. Also as part of the partnership, Douglas Elliman’s exclusive inventory of Manhattan properties will be marketed on Zillow for the very first time. As featured listings, all of Douglas Elliman’s listings will appear at the top of the search results on Zillow as well as on Zillow’s popular suite of mobile apps and on Zillow partners AOL Real Estate and HGTV’s FrontDoor.

“We are excited about our partnership with Douglas Elliman,” said Spencer Rascoff, Zillow CEO. “Combining Douglas Elliman’s listing inventory with our broad marketing capabilities and audience of nearly 82 million users brings many benefits not only to Douglas Elliman’s agents, but also to home shoppers looking for property in Manhattan and in the other markets served by Douglas Elliman.”

In addition to displaying as a featured listing on Zillow, all Douglas Elliman’s listings will feature unique branding and the company’s agents will get priority placement next to their listings, including a logo and link back to their website. The partnership will be live later this week.

http://nationalmortgageprofessional.com/news49950/zillow-and-douglas-elliman-real-estate-enter-marketing-partnership

3 Things You Didnt Know About Solar In Developing Countries | South Salem Real Estate

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1.3 billion people in the world lack access to electricity. They depend on mostly kerosene to use as light at night, which gets expensive over time and poses a lot of health risks at home (think toxic fumes and accidental fires). But there is a viable solution already available today: affordable solar energy. In the last 5 years, the cost of solar PV technology has dropped so drastically that companies are sprouting up all over the developing world to manufacture and distribute affordable solar products to light up unelectrified homes. These products range from basic torch lights to entire solar home systems that can power multiple lights, cellphone charging, radio, and even TV. So what’s enabling the off-grid solar revolution? Here are the three main reasons:

End-User Financing That Makes Sense

While the cost of solar has gone down, many of the 1.3 billion off-grid population still find the price tag on most solar products prohibitively expensive. However, solar companies have coupled their solar products with financing plans that allow customers to purchase solar products according to their level of income. These plans include monthly installments or weekly installments that span from 3 to 18 months. Some companies even go further and sell solar energy as a service similar to how people in the developed world pay their electric bills. In those cases, each family pays to keep their solar powered electricity services on, and the service will be cut off if the family stops their payment.

Looking at examples of what people currently spend on energy will put these costs and financing plans in context. A typical rural Indian household spends Rs. 150 to Rs. 300 each month on kerosene lighting. If we include diesel generators the cost goes up more. They end up spending a significant part of their overall income, which leaves them with not much funds to do anything else. A micro-grid solar project that was funded on SunFunder’s crowdfunding platform ends up costing each household Rs. 100 a month and it gives them clean, bright solar lighting and overnight cell phone charging. Solar is more affordable and better for the people’s health.

Epic miss on housing starts is a wake up call | South Salem Homes

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May’s housing start numbers from the U.S. Census Bureau look bad at first blush.

When you dig deeper, it’s worse.

Housing starts and permits missed expectations, and they fell the most since January, back when a few weeks of winter weather was blamed for how bad the numbers were then.

Analysts predicted 1.03 million annual housing starts.

Investors are pulling out of multifamily and homebuilders aren’t keen about betting on single-family taking off. Consequently, declines in both single-family and multifamily construction led to 1.001 million starts instead.

Click below to see the chart.

The housing permits front looks even grimmer. Analysts expected 1.05 million, but what the industry delivered was 991,000, a miss of epic proportions.

Click below to see the chart.

Lindsey Piegza, chief economist with Sterne Agee, said that, “…from a historical perspective, starts remain tepid with a 1M unit level marking the trough in activity in previous recessions.

“Going forward, a stronger job market and lower housing costs will grow demand, particularly among the younger generations. For now, housing remains positive but uneven,” she said.

Breaking down by permit and start type – multifamily is still where most are putting their money. It’s driving the bulk of activity.

Single-family starts dropped 5.9% after a 4.6% rise.

But it was just as bad on the multifamily front, as starts declined 7.6%, following a 29.2% spike in April.

Building permits followed a similar pattern.

Permits fell 6.4% after a 5.9% rise in April.

This is more than just “disappointing.”

(And the next economist or analyst who says it’s “surprising” should be asked what he does all day instead of research.)

This is as clear an indicator as there has been that the housing industry is stalling out. All the optimistic spin in the world can’t change that.

http://www.housingwire.com/blogs/1-rewired/post/30347-epic-miss-on-housing-starts-permits-is-a-wake-up-call

Fed Could Keep Rates Near Zero Until Mid-2015 | South Salem Real Estate

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The International Monetary Fund cut its growth forecast for the United States on Monday and said the economy would not reach full employment until the end of 2017, allowing the Federal Reserve to bide its time before raising interest rates.

In its annual health check of the U.S. economy, the IMF also urged the United States to boost the minimum wage, which is below most international standards, to fight poverty, which lingers above 15 percent.

The IMF forecast economic growth of 2 percent this year, below the 2.8 percent rate it predicted in April, due to a weak first quarter. It kept its 2015 forecast unchanged at 3 percent.

“Recent data … suggest a meaningful rebound in activity is now underway and growth for the remainder of this year and 2015 should well exceed potential,” the IMF said.

Yet the country’s potential growth should only be around 2 percent going forward, below historical averages, as the population ages and productivity growth slows, it added

“Given the substantial economic slack in the economy, there is a strong case to provide continued policy support,” the IMF said.

It said its forecasts show the U.S. economy would only return to full employment by the end of 2017, with inflation remaining low, suggesting the Fed could keep rates at zero for longer than the middle of 2015.

The IMF urged the United States to increase spending on infrastructure and education and change parts of its tax system, including boosting the federal gasoline tax and reinstating the tax credit for research and development, to help spur growth.

In the future, the United States should also reform corporate taxes, introduce a carbon tax and move toward a federal value-added tax, the IMF said.

http://www.foxbusiness.com/industries/2014/06/16/imf-fed-could-keep-rates-near-zero-until-mid-2015/

Home Prices Start Easing, to the Relief of Experts | South Salem NY Homes

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A steep gain in home prices in many markets that helped lift millions of Americans out of the red on their mortgages is now markedly slowing, with new data from the Standard & Poor’s/Case-Shiller national home price index on Tuesday showing that the annual growth in prices had eased in March to 10.3 percent, from the previous year’s increase of 11.4 percent.

But analysts said that the softening of price gains, rather than a worrisome trend, may actually be welcome news. Double-digit increases cannot go on forever, and many economists are using words like “sustainable” and “stable” to describe the slowdown, saying the market is becoming healthier.

Foreclosures make up a smaller percentage of sales, and the higher prices have caused investors to back off, leaving the bigger question of whether housing is affordable and mortgages are accessible to average families that want to buy. First-time home buyers still make up less than 30 percent of the market, according to the National Association of Realtors, while the number of all-cash buyers — not just investors, but older people who are downsizing after the sale of a larger home — has remained elevated.

Those factors will help curb any potential new bubbles, said Mark H. Goldman, a real estate expert at San Diego State University. “Here in San Diego, we have a real shortage of inventory, yet prices are softening,” he said, adding that houses in the area may have been priced too aggressively. “A big factor on home price appreciation is affordability.” Prices in San Diego rose 18.9 percent between March 2014 and March 2013, according to Case-Shiller. More moderate increases may give buyers’ incomes a chance to catch up.

Of the 20 cities that Case-Shiller tracks individually, all had double-digit price increases in that time period except Boston, Charlotte, Cleveland, Denver, New York and Washington, which had single-digit increases. In some cases, the cities hit hardest in the housing bust had the biggest gains. Las Vegas, where home prices rose 21 percent, led the list. Cities where demand has accelerated and housing supply is sharply limited by geography and other factors, like San Francisco, also posted large gains. Prices soared there by 21 percent, according to the measure.

Local Farmers Markets | South Salem NY Real Estate

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JAN2014-DTE-E-Mail-Masthead_(722x226pxl)FRESH-2-(1

Opening Day in Tarrytown with Music & Many New Vendors;
TWO Vendors Debut in Rye + More
May 15th-21st, 2014
DowntoEarthMarkets.com

What’s New, In Season, and On Sale This Week
BBQ Special: $2 OFF Packages of Chicken Breasts, Leg/Thighs & Wings Yellow Bell Farm Fresh Whole Chickens Stone & Thistle Farm Drunken Goat Cheese Raw milk aged cheese, soaked in wine “Fruity with firm interior, reminiscent of Parmesan” Acorn Hill Farm	Ground Beef: Buy five 1lb pkgs & get $2 OFF per pound! (Reg $9.75/lb; now $7.75/lb) Kiernan Farm Lamb Pre-order at the market Kiernan Farm Parisian Baguette Voted New York’s Best by Serious Eats – $0.50 OFF this Saturday! Orwasher’s Bakery	Pork Sausages: 20% OFF! Choose from Andouille, Breakfast, Chorizo, Hot Italian, and Sweet Italian Kiernan Farm Ramps Wild and sustainably foraged Yellow Bell Farm

Click on a Market to see all vendor and event details…

Westchester County		Rockland County
Ossining Saturdays 8:30 am-1:00 pm	Larchmont Saturdays 8:30 am-1:00 pm	Piermont Sundays 9:30 am-3:00 pm
L Croton-on-Hudson Sundays 9:00 am-2:00 pm	Rye Sundays 8:30 am-2:00 pm	Spring Valley Coming in July
Tarrytown/Sleepy Hollow OPENING DAY: MAY 24th Saturdays 8:30 am-1:00 pm	New Rochelle OPENING DAY: JUNE 20th Fridays 8:30 am-2:30 pm	*Headed to the city soon?* Visit a Down to Earth Farmers Market in NYC!

Announcements

Ossining

The summer market season begins this Saturday in Ossining. Help us welcome the return of Taliaferro Farm and R & G Produce, along with additional new vendors to come. AND now the market opens at 8:30 am! See you there.

Tarrytown

Celebrate Opening Day of the 2014 farmers market season in Tarrytown with Deuces Child!
The duo of Gigi Tanglewood and Lou Patrick create a unique and lively musical program with their acoustic guitar interplay and amazing harmonic vocals. They will play from 10:00 am to noon.

Visit the Down to Earth Markets Calendar for full details.

Stay tuned to all market happenings via our Down to Earth Markets Facebook page
and follow us on Twitter @DowntoEarthMkts.

Vendor Profile: Introducing Nana’s Home Kitchen

Coco and Nana

The husband and wife team of Serop and Jasmin Mandijan are best known as Coco and Nana. Serop’s middle name is Gregory, and in their native Armenian language, Coco is the nickname for Gregory. As for Nana, this is the name their grandchildren exclaim as they throw open the kitchen door, wild in delight for the food soon to come. It means “Grandma” in Armenian, and after one bite from Nana’s Home Kitchen, it’s easy to imagine their excitement — along with the patter of their little feet, as they run into the kitchen.

Coco and Nana were high school sweethearts in Armenia and married a few years later. They came to the United States in 1984, and Coco worked as a diamond setter for more than two decades. They have both enjoyed cooking since they were children, and once they married, they shared their love of the kitchen together. “She’s my best friend for more than 45 years,” Coco says of Nana.

As Coco retired from diamond setting, they were able to devote more time to their enjoyment of cooking fresh Middle Eastern foods from scratch. Encouraged by family and friends, they decided to offer their cooking to a broader audience and started Nana’s Home Kitchen around 2010. This weekend, they will debut with Down to Earth Markets with a mix of both savory and sweet foods. For the sweet teeth, they bake maamool, cookies stuffed with dates and walnuts, along with baklava, carrot cake, and more.

On their savory menu, crowds gather for their spinach pies, stuffed grape leaves, tabouli, hummus varieties, and much more. They are also renowned for their creative pesto sauces, made with ingredients such as sundried tomatoes and roasted peppers. They are inspired by the regional harvest and source from local farmers as much as possible. And, as much as they love the kitchen, Coco also relishes his time at the summer grill. Look for him to fire up delicious chicken kabobs and other specialties at our markets this year!

“Whoever tastes our food, they come back,” says Coco, “They love it. I don’t say it to brag. I say it because it happens.”

Meet Nana’s Home Kitchen all season long at Tarrytown’s Down to Earth Market, and coming up in Ossining, too. ENJOY.

Day Vendors This Week

Croton

Bombay Emerald Chutney Company

Larchmont

Calcutta Kitchens
The Peanut Principle (gourmet nut & seed butters)
Pie Lady & Son
Raaka Chocolate
Trotta Foods

The Value of My Home Went Up: Do I Need More Home Insurance? | South Salem Real Estate

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Most homeowners keep track of changes in the estimated value of their homes. If the estimate increases, does it mean you should increase the limits of your home insurance coverage to accommodate the hike? The quick answer — maybe, maybe not. Why the hedge? It depends on why the value of your home has increased.

The good news? If what increased is the possible sale value, you’re likely in good shape, insurance-wise. The amount of home insurance coverage you need doesn’t change based on real estate prices.

How real estate prices work

Real estate prices focus on demand. The more demand there is for a house, the more a seller can ask to be paid. Demand depends on a number of factors and can change over time.

An example: Location is one of the most important factors in real estate. If a home is in a trendy neighborhood, a great school district or near desirable shopping or entertainment venues, its market value could be greater than that of a house in another location. On the other hand, neighborhoods can fall off “popular” lists, school districts can be redrawn, and stores and theaters can close. That same house likely wouldn’t sell for nearly as much.

Most recently, home values have increased in many parts of the country as the real estate market heated back up after the recession. As more buyers enter the market, sellers can demand higher prices.

How home insurance prices work

When you buy home insurance, you don’t base your coverage limits on what you paid for the house. Instead, you buy enough dwelling coverage so that you can rebuild what’s likely your largest investment in case it is destroyed by a covered event such as fire or wind.

Factors taken into account in arriving at this amount — also called the replacement value of your house — include the size of the house and local construction costs.

Insurance providers then consider the amount of risk presented by a particular home and policyholder. Again, location is important: It determines the types of threats a home can face. For example, it costs much more to insure a home in Tornado Alley than it would for a similar house in a region with less-volatile weather.

http://www.zillow.com/blog/home-values-and-home-insurance-151160/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+ZillowBlog+%28Zillow+Blog%29

FHA, Fannie and Freddie regulator making moves to ease mortgage credit | South Salem Real Estate

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A shift by the federal regulator of Fannie Mae and Freddie Mac could soon make getting a mortgage loan easier by giving lenders more wiggle room before the mortgage giants demand that they repurchase loans.

In his first public remarks since taking over as head of the Federal Housing Finance Agency, Mel Watt said he wants to address uncertainties surrounding the “representation and warranty” standards that can trigger repurchase demands.

Vault image via Shutterstock.

Going forward, new borrowers will be allowed to miss two payments during the first three years after taking out a mortgage without triggering a repurchase demand from Fannie and Freddie. The mortgage giants will also not automatically demand that lenders repurchase loans if a loan’s primary mortgage insurance is rescinded.

Watt said Fannie and Freddie will continue to allow Fannie and Freddie to approve loans with debt-to-income levels above 43 percent when borrowers have “other compensating strengths,” and keep current loan limits in place.

Those moves could embolden lenders to approve mortgages to borrowers who meet all of Fannie and Freddie’s other underwriting requirements, but who previously might have seemed to pose too great a repurchase risk.

When lenders have done their due diligence and made sure borrowers meet Fannie and Freddie’s underwriting standards, the mortgage giants keep payments flowing to investors in mortgage-backed securities that mortgages are bundled into, even when borrowers default.

http://www.inman.com/2014/05/13/fannie-and-freddie-regulator-making-moves-to-ease-credit/?utm_source=20140513&utm_medium=email&utm_campaign=dailyheadlinespm

Yellen: Housing remains a big concern | South Salem Real Estate

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Federal Reserve Chair Janet Yellen’s second day on Capitol Hill found her focusing on at least three economic vectors tied to housing – fiscal policy, job creation and the tapering of bond buying.

Yellen wasn’t as specific or blunt on Thursday before the Senate Banking Committee as she was on Wednesday before a congressional committee.

“Of course the recovery of the housing sector is very important. To see that ongoing is important to our recovery and has been a very important factor in the downturn,” Yellen told senators.

On Wednesday, though she warned more strongly that housing is a headwind for the economy.

“One cautionary note, though, is that readings on housing activity – a sector that has been recovering since 2011 – have remained disappointing so far this year and will bear watching,” she said. “Another risk – domestic in origin – is that the recent flattening out in housing activity could prove more protracted than currently expected rather than resuming its earlier pace of recovery.”

Weak job growth and wage stagnation remain challenges for both housing and for the economy in general.

On bond buying and the commitment to the tapering, Yellen held her ground.

“What we need to see in order to follow that plan is continued improvement in the labor market and an overall pattern of growth that is sufficient to cause us to project continued improvement,” she said. “Our objective is to make sure that the economy moves back to full employment or maximum employment, and we are making gradual progress….

“Whenever we meet we ask ourselves the question, ‘do we continue to believe that the economy is on a path that will take us toward our objective of reaching full employment or maximum employment?’ And we also think about inflation, which is running below our 2% objective and ask ourselves, ‘does incoming evidence suggest that inflation will also be moving back up to 2% over time?” Yellen said. “If the answer to those two questions is ‘yes,’ we will continue to reduce the pace of our asset purchases.”

http://www.housingwire.com/articles/29954-yellen-housing-remains-a-big-concern

Buying Bedford Real Estate

Robert Paul Realtor buying Bedford real estate

Tag Archives: South Salem Homes for Sale

Purchase index plunges 16% year-over-year | South Salem NY Homes

Zillow and Douglas Elliman Real Estate Enter Into Marketing Partnership | South Salem NY Homes