Tag Archives: Westchester NY

Westchester NY

Westchester Real Estate Prices Gain, But Lag Behind U.S. Trend | Armonk Homes

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Existing home prices surged more than 12 percent in a one-year period ending in April, but the increase in Westchester County and New York prices was far lower.

Standard & Poor’s Case-Shiller Index, which was released this week, showed a 12.1 percent increase for 12 months ending in April for existing homes in 20 United States metropolitan areas. The increase in New York, however, was only 3.1 percent, the smallest rise of the municipalities in the index.

“What that reflects is that other cities in the country experienced a much more volatile market,’’ said Joe Rand of Better Homes & Gardens Rand Realty. “They had more dramatic increases and decreases. Values went up 10 percent where they had gone down 50 percent. In New York, prices never really went down.”

Home prices are rising in Westchester County, as is the sale of homes. New home sales rose 2.1 percent in May, according to figures released by the Commerce Department, and that figure was the highest level since July 2008.

According to the Case-Shiller index, homes in New York increased 3.2 percent in value from April 2012. Property values climbed the most in San Francisco (23.9) followed by Las Vegas (22.3) and Phoenix (21.5).

“I think over the last five or six years, I’ve gotten used to the Case-Shiller report acting almost as an exaggerated indicator,’’ Rand said. “I don’t think it’s an accurate indicator of the local market. We’re not seeing the double digit increases in Westchester County. I think the way the report is constructed tends to juice it. When prices falling, Case-Shiller was saying it was double digit declines and we were seeing one or two percent. The only thing that concerns me is you’ll have people say it’s going up 10 percent, let me raise the price of my home.”

Rand said sales of existing homes that are properly priced are brisk. Most followers of real estate believe the industry has taken a positive turn after a long period of decline.

 

 

Westchester Real Estate Prices Gain, But Lag Behind U.S. Trend | The White Plains Daily Voice.

Report: Bill Gates Buys FL Equestrian Estate for $8.7M | Pound Ridge Real Estate

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Seattle-based Microsoft founder Bill Gates — and second richest man in the world — remarkably, doesn’t own an excess of properties. Previously, when his horse-loving daughter competed in Florida, the multi-billionaire rented homes for his family rather than buying.

Not any longer. According to South Florida’s Gossip Extra and property records, Gates now owns a place in Wellington, FL, paying $8.7 million in cash. The Mediterranean-style residence is vastly different and much smaller than Gates’ high-tech and modern compound spanning over 5 acres with 50,050 square feet of living space on Lake Washington, about 8 miles east of Seattle.

The home Gates just purchased in Wellington is reportedly a residence he and his family rented last year in January while his teenage daughter competed in the Winter Equestrian Festival. Built in 2010, the estate has 4 beds and 4 baths with a 7,234-square-foot, open floor plan. Horse-friendly features like a 20-stall barn and show-jumping arena were likely part of Gates’ decision to buy the home.

Gates isn’t the only business man buying in Wellington. New York City Mayor and Bloomberg Founder Michael Bloomberg has a home there as well as the former owner of the L.A. Dodgers, Frank McCourt.

 

Report: Bill Gates Buys FL Equestrian Estate for $8.7M | Zillow Blog.

Mountain Penthouse on Aspen’s Main Street Asks $8.75M | Pound Ridge Real Estate

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Location: Aspen, Colo.
Price: $8,750,000
The Skinny: In most mountain towns, spending close to $9M would earn a buyer a substantial piece of property and a sprawling mansion, but not so in the favored mountain playground of the rich and famous, Aspen, Colo. This newly built penthouse on Main Street is asking $8.75M and measures just 3,200 square feet. Aside from the high price, the location is prime for those looking for easy access to Aspen’s many bars and restaurants—nevermind the annual Food & Wine Classic, which just wrapped up—and offers a short walk to the lifts at Aspen Mountain. The modern interior is home to four bedrooms, three bathrooms, “wide-planked European rift-cut white oak floors, custom cabinetry, diamond finish plaster walls, and slab stone countertops,” while 1,250 square feet of outdoor space and a three-car garage round out this low-maintenance offering.

Mountain Penthouse on Aspen’s Main Street Asks $8.75M – House of the Day – Curbed National.

Luxury Summer Rentals: Is $1 Million the New Normal? | Waccabuc Real Estate

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In the world of short-term rentals, it’s all about Memorial Day to Labor Day. Homes in popular vacation spots from Malibu to The Hamptons are emerging with rental prices from $100,000 to more than $1 million total for the summer.

While many associate these numbers with buying a home — not renting one for three months — these listings typically attract renters soon after they hit the market. For those who can afford it, they offer the chance to live in the lap of luxury — without having to think about a mortgage or resale value.

Here’s a look at a few high-end summer rentals currently on the market. Some are offered for a flat fee; others have a monthly rate for the 3-month peak vacation season. (You might have some negotiating power with Memorial Day behind us, but don’t expect to rent one of these pricey pads for less than six figures.)

Beverly Hills: $1.8 million ($600,000/mo.)

Beverly Hills, CA
Perched above the Beverly Hills Hotel at 1011 N Beverly Dr, Beverly Hills, CA 90210, the Beverly House was a for-sale listing asking $115 million before becoming a rental. Whether you’re in the market for a summer home or a year-long lease, the price remains $600,000 per month.

While its ornate architecture and furnishings are notable, the home is most-known for its celebrity history — from publishing magnate William Randolph Hearst, who was given the home by actress Marion Davies in 1946, to John and Jacqueline Kennedy, who spent time there during their honeymoon. The 3.7-acre compound has also served as a set for “The Godfather” and “The Bodyguard.”

Water Mill: $550,000 (flat fee)

Water Mill, NY
Located on Mecox Bay between Bridgehampton and Southampton, Water Mill, NY is an exclusive destination for the rich and famous (Jennifer Lopez just dropped $10 million on a 3-acre estate in the area).

Similar to the Beverly Hills listing above, this Water Mill home first hit the market as a for-sale listing in 2011. After several price changes, the home is now being marketed as a summer rental for a flat fee of $550,000 for Memorial Day through Labor Day. The house includes a master suite with a private terrace, 3 additional bedrooms, an oversized granite pool and spa.

Bridgehampton: $475,000 (flat fee)

Bridgehampton, NY
Bridgehampton is another coveted Hamptons locale, with Goldman Sachs CEO Lloyd Blankfein recently buying a house listed for $32.5 million. Last summer, Beyonce and Jay-Z escaped Manhattan with a Bridgehampton summer rental coined “The Sandcastle.”

Measuring 10,000 square feet, this Bridgehampton home has 7 bedrooms, 9.5 baths, a pool, movie theater, gym, 4 fireplaces and a wine cellar. Close to local shops, restaurants and the beach, it’s an ideal getaway during the summer months, and the price reflects this with a $475,000 flat fee from Memorial Day to Labor Day versus $150,000 for the winter.

Southampton: $395,000 (flat fee)

Southampton, NY
Live like Kate Spade with this Southampton summer home located on your own private pond. The property features 5,800 square feet of living space on 2 landscaped acres with a heated pool and tennis court. Located a block from the Hamptons waterfront, the estate also comes with deeded beach access.

If you’re looking for a longer-term rental, listing agent Nancy Hardy of Halstead Property says additional prices are available.

Malibu: $300,000 ($100,000/mo.)
Malibu, CA

Located behind Malibu Colony’s prestigious gated entrance at 23716 Malibu Colony Rd #28, this home is available only for the summer months, as the homeowners live there the rest of the year. For $100,000 a month, the Cape Cod-style beach house comes with a private deck right on the beach, 5 bedrooms, 5.5 baths and an attached gym.

Malibu is a popular second-home destination for the celebrity set flocking from nearby L.A. While some like to buy their own place, others including Usher and P. Diddy have gone the rental route.

 

Luxury Summer Rentals: Is $1 Million the New Normal? | Zillow Blog.

Survey: 60 Percent of Homeowners Will Make a Home Improvement This Summer | Katonah Real Estate

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Home improvement big-box stores, get ready. If you think homeowners are sitting idly by this summer trying to beat the heat with their feet up, think again. According to the Zillow Digs Summer Home Improvement Trend and Spending Survey, 60 percent of homeowners plan to make a home improvement or addition this summer.

Zillow Digs Summer 2013 Survey graphic

The survey also provides some insight into the demographic and household makeup of the homeowners and what kinds of projects they have in mind: 

  • Younger homeowners and homes with children are significantly more likely to be planning a home improvement this summer and perhaps as many as three or more home improvements.
  • Homeowners plan to spend a median of $1,200 on summer home improvement projects.
  • Homes with children as well as homeowners 54 and younger plan to spend one-third more ($1,500) compared with homes without children and those 55 and older ($1,000).
  • Some of the most popular summer home improvement projects are outdoor spaces (40 percent) and bathrooms (17 percent).

Ideas for outdoor spaces

Summer Trends 2013 - outdoor space courtesy of Zillow Digs

Zillow Digs photo

Since 40 percent of the home improvement goals will be outdoors projects, we found a few ideas onZillow Digs, where users have shared photos of their favorite outdoor spaces. Instead of infinity pools and sleek modern decks with well-appointed outdoor kitchens, these summer home remodelers prefer camp-like settings that use a lot of stone, particularly stone fireplaces.

Summer Trends 2013 - outdoor space by Boyenga Team

Photo courtesy of Boyenga Team via Zillow Digs

Ideas for bathrooms

Summer Trends 2013 - bathroom courtesy of Jamie Herzlinger

Photo courtesy of Jamie Herzlinger via Zillow Digs

Of the survey respondents, 17 percent said they plan on redoing their bathrooms. But before you start, get out the squeegee and glass cleaner because frosted glass is out. From glass shower enclosures to glass tiles, Zillow Digs users want open and light bathrooms. Without shower curtains, many homeowners and designers take advantage of the free wall space to showcase beautiful glass tiles.

 

Survey: 60 Percent of Homeowners Will Make a Home Improvement This Summer | Zillow Blog.

Despite recovering market, Maryland foreclosure activity remains elevated | Cross River Real Estate

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Maryland’s housing market is improving, but many homeowners still face trouble.

Foreclosure activity in Maryland last month reached a 33-month high, according to RealtyTrac, which gathers real estate data nationwide. Among the states, Maryland had the largest year-over-year increase — 229 percent — in foreclosure starts in May.

“Every day, we just get a lot of struggling, hurting, scared homeowners,” said Owen Jarvis, an attorney with the St. Ambrose Housing Aid Center in Baltimore. Although many homes going into foreclosure now are investments gone wrong, not owner-occupied properties, scores of homeowners are falling behind on payments, he said.

Lenders began the foreclosure process on just over 2,000 Maryland properties last month, according to RealtyTrac’s figures. And last month’s high foreclosure figure is not an anomaly. Maryland’s foreclosure numbers have been among the highest in the country for about a year, ranking fourth last month.

Several factors are behind the state’s elevated foreclosure rate.

Some lenders have dragged out the process, possibly biding their time until the market improves. The chief reason, though, is that Maryland changed its foreclosure laws after the housing bubble burst, requiring more oversight and a more drawn-out process for banks to claim property.

Maryland’s extended foreclosure timeline has given many homeowners time to pursue relief, such as mortgage modifications, from lenders. At the beginning of the financial crisis, foreclosures in Maryland could be completed in a matter of days, leaving homeowners little time to react to bank actions.

The post-bubble spike in mortgage delinquencies prompted the General Assembly to rethink the state’s foreclosure process. Legislators extended the amount of time required before a foreclosure auction, increased access to housing counseling services and instituted a mediation program.

“The governor early on decided that we, Maryland, did not want to be the state with the fastest foreclosure process,” said Raymond Skinner, secretary of the Maryland Department of Housing and Community Development. “Our approach from the beginning has been to focus on our homeowners and keep as many people as we can in their homes.”

The minimum number of days a foreclosure in Maryland could be completed went from 15 to 135, Skinner said. On average, it now takes 575 days to complete a foreclosure in Maryland, said Daren Blomquist, vice president at RealtyTrac.

But the high foreclosure activity, which is expected to continue for months, also might have a chilling effect on the state’s budding housing recovery.

 

 

 

Despite recovering market, Maryland foreclosure activity remains elevated – baltimoresun.com.

Connecticut Warns Of Possible Unsafe Water Conditions After Heavy Rains | Armonk Real Estate

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Water conditions in rivers and streams may be unsafe due to recent heavy rains throughout Fairfield County and the rest of the state, the state warns.

Many of Connecticut’s rivers and streams are experiencing higher than normal water levels and faster than normal currents, so anyone near the water or planning to go into the water needs to be aware of the conditions and use caution, according to the Connecticut Department of Energy and Environmental Protection.

“This weekend’s weather forecast is for beautiful weather, and we encourage everyone to get out and safely enjoy Connecticut’s outdoors,” said DEEP Deputy Commissioner Susan Whalen. “Unfortunately, we have had incidents in recent days where people have been tubing or rafting on a fast-moving river and have gone missing. The state has experienced heavy rains in recent days, which mean that our rivers and streams are high and running fast, so everyone near the water needs to be extra careful.”

Canoeists and kayakers should scout all waterways before attempting to run the swollen rivers or streams, DEEP said on its website. Waterways may have dramatically changed since the last time it was traveled due to high water, strong currents and moved debris. Debris in swift moving water may catch a boat and force it and its passengers under the water, causing serious injuries or drowning, DEEP said.

Boaters on larger bodies of water and especially on rivers should also keep a sharp eye out – debris may lay just under the surface of the water and can be very difficult to spot in the muddied waters, DEEP said.

Tubing and rafting safety tips:

  • DEEP strongly recommends that everyone wear a life jacket – Connecticut law requires children under the age of 13 wear a properly fitting U.S. Coast Guard-approved life jacket at all times unless below deck or in an enclosed cabin.
  • Avoid consuming alcohol while engaging in water-related outdoor activities.
  • Know how to swim if entering the water.
  • Know the condition of the water and know your abilities – if there is any doubt about the water conditions – do not go.
  • Wear water shoes – especially if the waterbody is known to be rocky.
  • Never raft alone and always let someone know where you are going to and where and when you plan to return.
  • Check the weather forecast for your area and for areas upstream before departing for your trip.

Basic water safety tips:

  • Learn to swim – the best thing anyone can do to stay safe in and around the water is to learn to swim.
  • Never swim alone – always enter the water with a companion.
  • Supervise children at all times – even at areas with lifeguards.
  • Select an area that has good water quality and safe natural conditions.

 

Connecticut Warns Of Possible Unsafe Water Conditions After Heavy Rains | The Greenwich Daily Voice.

Texas homebuyer demographic shifts from singles to marrieds | Pound Ridge Real Estate

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Texas homebuyers are buying more new homes and they’re finding them faster, according to the Texas Association of Realtors. This indicates a steadily growing, competitive housing market in The Lone Star State. 

Shad Bogany, chairman of the Texas Association of Realtors, said, “This report affirms the Texas real estate industry as a driving force in our state’s economy. More new homes are being built and homes are selling faster, which bodes well for our thriving Texas housing market and our economy’s future.”

In 2012, 26% of all homes purchased in Texas were new. Additionally, Texas homebuyers only spent eight weeks looking for a home prior to making their purchase. Compared to Texas, only 16% of homes nationwide were new homes and homebuyers spent an extra month searching for the right property.

It seems that the makeup of Texas homebuyers has shifted as well, with 69% of homebuyers being married couples, compared to 65% nationally. This marks the highest share since 2001.

Conversely, the share of homebuyers classified as “single” hit the lowest level since 2001, with singles representing only 16% of Texas homebuyers and 15% nationwide. 

Bogany explained, “The recession led to tighter credit and lending standards across the U.S., which is why you’re seeing less individual home buyers. For many, it required a dual income to afford a home in 2012.” 

 

Texas homebuyer demographic shifts from singles to marrieds | HousingWire.

Teacher Charged In Threat To Greenwich Middle School | Armonk NY Real Estate

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Greenwich middle school teacher Stacey Goodnow, 46, was accused of leaving a voice mail message to another teacher that she would “shoot up” her school because she was upset over a personnel situation, according to Norwalk police.

Goodnow, who lives on Melrose Avenue in Norwalk and is a sixth-grade teacher at Western Middle School in Greenwich, was arrested Friday and charged with misdemeanor disorderly conduct and was initially held on $100,000 bond.

According to Norwalk Police Lt. Thomas Mattera, Goodnow’s bond was lowered at Norwalk Superior Court on Monday to $5,000. She posted bond and was released.

Police said Goodnow left the voice mail earlier in the month, which prompted a report to Greenwich police. The Greenwich Police Department contacted the Norwalk Police Department because the call was placed from the suspect’s home, according to Mattera. The lieutenant declined to elaborate, but Goodnow is believed to have made more than one threatening call.

“Her alleged statements were annoying and alarming on several levels,” said Mattera.

The court put conditions on her release, such as staying away from the school district and school personnel.

 

Teacher Charged In Threat To Greenwich Middle School | The Greenwich Daily Voice.

Actor Tom Hanks and wife sell home for $5.225 million | Waccabuc Real Estate

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Purchased by the A-list duo for $1.9 million when they were first married in 1988, the home has 4 bedrooms, 5.5 bathrooms and 6,289 square feet. The gorgeous but rather boring and monochromatic house has large living spaces, a library and even a private beauty salon, according to Trulia.

The couple’s other property holdings include yet another Pacific Palisades mansion they picked up in January 2010 for $1.45 million and a beachfront Malibu Colony spread they’ve owned since the early 1990′s, Trulia ($30.57 0%) reports.

To see photos of the house, click here.

 

Actor Tom Hanks and wife sell home for $5.225 million | HousingWire.