Live On Charleston Harbor in a $11M Converted Naval Station | Mount Kisco Real Estate

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Location: Charleston, S.C.
Price: $11,000,000
The Skinny: This South Carolina house takes waterfront living beyond the shoreline and onto concrete pilings out in the muddy waters of Charleston Harbor. Adapted from the remains of a former Navy degaussing station (degaussing basically equals demagnetizing) in 2010, the 4,689-square-foot water-borne abode sits astride a 340-foot dock, which gives it views of—per the listing—"Charleston Harbor, Fort Sumter, The Yorktown, Ravenel Bridge and the Historic Charleston Peninsula." The five-bedroom, five-bathroom main house features three levels of living space, including a library, a climate-controlled wine cellar, and a top floor sitting room with programmable shades and 360-degree harbor views. On the mainland, there's a 1,200-square-foot guest house over the three car garage, with its own kitchen and private terrace. At the other end of the dock there's a boat lift that can hoist 20,000 pounds of yacht out of the water for, you know, degaussing. It's asking $11M.




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http://curbed.com/archives/2014/07/29/charleston-harbor-converted-navy-station-for-sale.php

Spring Price Increases Barely Budge Underwater Homes | South Salem Real Estate

Price increases slowed so much in the second quarter that the numbers of seriously underwater homes and the percentage of equity rich properties barely increased over the first quarter of 2014.

The second quarter of 2014 saw only a small percentage decline in the percentage homes that were seriously underwater, 17.2 percent versus 17.4 percent in the first quarter of 2014, bringing it to the lowest level since RealtyTrac began reporting negative equity in the first quarter of 2012.
Some 9.1 million U.S. residential properties were seriously underwater — where the combined loan amount secured by the property is at least 25 percent higher than the property’s estimated market value — representing 17 percent of all properties with a mortgage.

The universe of equity-rich properties — those with at least 50 percent equity — didn’t change at all from the first quarter to the second quarter of 2014, at 18.8 percent of all properties with a mortgage or 9.9 million properties.

Another 8.8 million properties are on the verge of resurfacing in the second quarter of 2014, with between 10 percent negative equity and 10 percent positive equity, representing 17 percent of all properties with a mortgage, up from 8.5 million representing 16 percent of all properties with a mortgage in the first quarter of 2014.

Fewer distressed properties had negative equity in the second quarter, with 44 percent of all properties in the foreclosure process seriously underwater — down from 45 percent in the first quarter of 2014 and down from 57 percent in the second quarter of 2013. The share of foreclosures with positive equity decreased to 34 percent in the second quarter, down from 35 percent in the first quarter. Top states for foreclosures with equity include Colorado, Texas, Oklahoma, Hawaii and Louisiana.





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http://www.realestateeconomywatch.com/2014/07/spring-price-increases-barely-budge-underwater-homes/

Park Grove Shows Off Floorplans for Two of its Three Towers | Waccabuc Real Estate

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Renderings of Park Grove, the Terra Group/Related Group towers in Coconut Grove designed by starchitect Rem Koolhass, give the impression that the project is basically two wogly hourglass-shaped towers (one commenter suggested they look like testicles). But, oh, apparently floor plans have been released for two of the project's three towers, all of which are 22 stories. #2 and #3, which is also being branded Park Grove's 'Club Residences' tower. These are smaller, and no, probably don't have as much of a bay view. So, what gives? An earlier version of the design had as many as five or six slender towers (with one or two units per floor) but, you know, things happen, budgets are imposed, designs are revised and refined, and boom.


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http://miami.curbed.com/archives/2014/07/24/park-grove-shows-off-floorplans-for-two-of-its-three-towers.php

Housing market getting ready to grow | Cross River Real Estate

Citing recent “encouraging economic and housing data,” analysts from Fitch Ratings expect an accelerated upturn in housing in the remainder of 2014.

In Fitch’s The Chalk Line report for Summer 2014, Fitch analysts Robert Curran, Monica Delarosa and Robert Rulla write that the projected growth in housing will last throughout 2015 and lead to a much stronger year than 2014 is proving to be.

“Demographics, attractive affordability/housing valuations, and a slow, steady easing in credit standards should sustain and ultimately accelerate the upturn,” the analysts write. “The latest economic and housing macro statistics are generally encouraging.”

The analysts say that 2014’s performance is fighting an uphill battle after an unexpectedly strong winter put a significant dent in the housing market in the first few months of the year.
“The spring selling season was underwhelming enough that this, along with more guarded expectations for the next few months, will lead to more modest growth for macro housing statistics before the year is through,” said Robert Curran, Fitch’s managing director and lead homebuilding analyst.


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http://www.housingwire.com/articles/30745-fitch-housing-market-getting-ready-to-grow

Stubborn Negative Equity Delays National Price Rebound | Chappaqua Real Estate

Too many homeowners are still underwater on their mortgages for home values in half of the nation’s 100 largest metro areas to reach their pre-recession peak levels within the next three-plus years, according to the second quarter Zillow Real Estate Market Reports

Nationally, home values remain 11.3 percent below their 2007 peak. Looking ahead, U.S. home values are expected to rise another 4.2 percent through the second quarter of 2015, according to the Zillow Home Value Forecast will take 2.7 years for national home values to re-achieve their pre-recession levels, assuming a steady rate of appreciation at the forecasted level.

U.S. home values climbed 6.3 percent year-over-year in the second quarter to a Zillow Home Value Index (ZHVI)iii of $174,200, the slowest annual pace of appreciation recorded so far this year and a sign that the market is returning to more normal levels. In a more normal market, home values appreciate at roughly 3 percent per year. Home values nationwide were up 1 percent compared to the first quarter and 0.5 percent from May.

Homes.com, which tracks 300 markets in its monthly Rebound Report, says that through April, a total of 105 markets or 35% percent of all markets it tracks have achieved full pricing recovery and another 178 markets, or 59% of the total, have rebounded 50 percent from their trough index number.
However, Zillow said that in 50 of the nation’s 100 largest metro markets, it will take three years or more for home values to reach prior peaks. Notable large metros where full recovery in home values will take longer than a decade include Minneapolis (14.5 years), Kansas City (12.5 years) and Chicago (11.7 years).




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http://www.realestateeconomywatch.com/2014/07/stubborn-negative-equity-delays-national-price-rebound/

Tebow Buys Golf Estate in Florida | Armonk Real Estate

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The huge home former NFL quarterback Tim Tebow closed on recently in Jacksonville is his first completion in a while. The out-of-work player — now a commentator — is headed back to his home state of Florida, where he just paid $1.4 million for a 6,525-square-foot home on a golf course.

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https://homes.yahoo.com/news/tim-tebow-buys-golf-estate-florida-225505712.html

Mount Kisco Mrs. Green's Employees Rehired | Mt Kisco Real Estate

Eight employees of the Mrs. Green's Natural Market at 666 Lexington Ave. who were let go were rehired as part of a deal announced Wednesday.

The deal was reached Tuesday and the reinstatements are effective Wednesday. The deal also calls for back pay and training and the employees are expected to return next week.

“Mrs. Green’s Natural Market is proud of its associates – employing more full-time associates than its competitors, giving bonuses and discounts to hourly employees, and creating profit sharing and promotional opportunities for our team members – and today’s agreement honors that core value,” John Collins, a spokesman for Mrs. Green's, said in a statement. “Store leadership embraces these values and core principles and has stepped forward to do the right thing for its associates. Now we are moving forward with a shared commitment to provide Mt. Kisco families with organic, local and all-natural products and access to a healthier lifestyle.”



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http://bedford.dailyvoice.com/business/mount-kisco-mrs-greens-employees-rehired-0

Mortgage Rates Hold Steady | Cross River Real Estate

Mortgage rates for 30-year fixed mortgages remained unchanged this week, with the current rate borrowers were quoted on Zillow Mortgages at 4.05 percent, up from 4.03 percent at this same time last week.

The 30-year fixed mortgage rate hovered between 4.02 and 4.08 percent for the majority of the week, dropping below 4 percent on Friday before rising to the current rate this morning.

“Last week rates dipped slightly after bank instability in Portugal triggered concerns about the broader European economy,” said Erin Lantz, vice president of mortgages at Zillow. “This week we expect rate activity to remain somewhat subdued amid ongoing international uncertainty.”

Additionally, the 15-year fixed mortgage rate this morning was 3.03 percent and for 5/1 ARMs, the rate was 2.79 percent.

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https://homes.yahoo.com/news/30-fixed-mortgage-rates-hold-steady-182828961.html

Top 10 Riskiest Housing Markets in America | Katonah Real Estate

The bursting of the housing bubble shattered one of the most widely held misconceptions among buyers: home prices can’t fall. For far too long, homeowners counted their profits before the ink was dry, while analysts expected a new era of prosperity. As we now know, home prices can indeed fall. In fact, some areas of the country suffered from declining prices well before the financial crisis.

Zillow Research recently analyzed the past thirty-five years of housing data to find which markets homeowners were mostly likely to incur a loss upon selling their homes. The firm chained its Zillow Home Value Index (ZHVI) to the FHFA Home Price Index, and observed changes in median values over 117 rolling five-year periods since the end of 1979. Out of the fifty largest housing markets in America, the riskiest metro areas were found in New England.

“Some of the most risky areas may come as a bit of a surprise, as they aren’t known as places that were hardest-hit after the most recent housing bubble,” explains Zillow. “While the measure of percent of negative returns identifies the metro areas where home values more consistently declined, it does not give extra weight to places that saw extreme declines post-bubble.”
Let’s take a look at the ten riskiest housing markets in America, based on likelihood of negative returns during the rolling five-year periods. In the case of ties between markets, those with the bigger drop in their worst years were ranked as riskier.



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http://wallstcheatsheet.com/business/top-10-riskiest-housing-markets-in-america.html/?ref=YF

Today’s Teenagers Will Rock Real Estate | Bedford Hills Real Estate

Sea changes are in store for residential real estate ten years from now. Millions of new households will lift rental and starter home markets, half of the new families will be minorities and their ability to access mortgage finance will determine whether they own or rent.

Those are some of the headlines from the Harvard’s Joint Center for Housing Studies’ 2014 State of the Nation’s Housing Report. The report paints a bright but challenging future for homeownership.
Simple demographics describe how new household will change. Assuming current headship rates hold, the number of households in their 30s should increase by 2.7 million. Many of tomorrow’s younger households will be minorities. By 2025, minorities will make up 36 percent of all US households and 46 percent of those aged 25–34, thus accounting for nearly half of the typical first-time homebuyer market, the report said.

Meanwhile, the aging of the baby-boom generation over the next decade will lift the number of households aged 65 and over by some 10.7 million. Many of these households will choose to make improvements and modifications to their current homes so that they can age in place, while others will seek out new housing options geared toward seniors.

Since minority households tend to have lower incomes and wealth than white households, their demand for owner-occupied housing will depend in large measure on the availability of mortgage financing that accommodates their limited resources.



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http://www.realestateeconomywatch.com/2014/07/todays-teenagers-will-rock-real-estate/

China set to dominate foreign homebuyers market | Bedford Corners Homes

The share of U.S. homes purchased by international buyers is on the rise. As HousingWire reported on Tuesday, international buyers spent nearly $100 billion on properties and investments from April 2013 to March 2014.
The $99.2 billion that international buyers pumped into the market in from April 2013 to March 2014 represents a substantial increase from the previous 2012-2013 level of $68.2 billion, according to the National Association of Realtors.
According to the NAR report, Canada maintained the largest share of purchases, dropping from 23% in 2013 to 19% in 2014; however, China held the lead in dollar volume, purchasing an estimated $22 billion with an average sale cost of $590,826.
China was also the fastest growing source of transactions, now accounting for 16% of all purchases, up 4% from last year. Domestically the Chinese are facing their own property meltdown, one that could help push real estate investors into new markets.

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http://www.housingwire.com/articles/30617-chinese-set-to-dominate-foreign-buying-market

Impressively Roomy 425-Square-Foot NYC Apartment | Bedford Real Estate

[All photos by Will Femia.]

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Is this the most spacious 425-square-foot apartment on the Upper West Side? It's definitely a contender. Owner Huxley Somerville is a finance exec who bought the space for $95,000 in 1994, telling the Times he saw it as an ugly duckling. A compartmentalized duplex on the fourth and fifth floors of a 73rd Street walk-up, it had a distinct living room, kitchen, bathroom, bedroom, and terrace across multiple levels. Despite the condition, he and his wife lived there until '97, then rented it out, till their tenant eventually left, too.
So, almost 15 years post-purchase, they decided to overhaul the recent-college-grad pad into a pied-a-terre, hiring Specht Harpman Architects to do the job. A dramatic renovation worth $400,000 later, and the space is functional, high-ceilinged, and surprisingly open, with ample light from the rooftop terrace that streams down into the living space thanks to a bedroom cantilevered over the kitchen and bathroom by the entryway. "In a small apartment, most things have to do double duty," Harpman said. The coffee table, for example, rises into a full-height dining table, and extra chairs are stored under the stairs. While it's not the tiniest apartment in the city, as Bloomberg claimed, it certainly is a small space done right.


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http://ny.curbed.com/archives/2014/07/08/tour_an_impressively_roomy_425squarefoot_nyc_apartment.php

Impeccable Brooklyn Home With Pool Returns for $25k/Month | Pound Ridge Real Estate

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Brooklyn's former most expensive rental is back, with a price-chop of a whole $10,000 from its asking rent. The townhouse at 227 Clinton Street in Cobble Hill is now asking $25,000 a month, plunging it all the way to second most expensive rental in the borough. The six-bedroom townhouse between Amity and Congress streets is decked in many of its original details, like those extravagant crown moldings, but that doesn't preclude it from having modern trappings as well, including a "fully soundproofed man cave" and a teeny tiny backyard pool.


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http://ny.curbed.com/archives/2014/07/03/impeccable_brooklyn_home_with_pool_returns_for_25kmonth.php

5 Factors That Influence Your Home's Resale Value | Bedford Corners Real Estate

While home sellers hope to get top dollar for their property -- and some have an inflated idea of what to expect -- establishing a home's value can be a complex, multifaceted process. Do home renovations really pay off? And which is more valuable: a three-bedroom or a four-bedroom with the same square footage? We talked to real estate insiders to find out.

1. Location. The classic real estate refrain says, "location, location, location." Location includes factors such as the price of recent nearby transactions, the quality of local schools and whether the area has a strong sense of community. "Buyers increasingly value community in the community where they're buying," says Amy Anderson, an agent with Davidson Realty, Inc. in St. Augustine, Florida. "They come to me not looking for a house for four years, but focusing much more on the community, the activities and the school district."

As Americans scale back their dependence on automobiles, some homebuyers seek out communities that don't require cars to get around. One resource is WalkScore.com, which rates neighborhoods throughout the U.S. based on access to public transit and proximity to grocery stores, parks and more." I think walkability has become more important in many markets, especially amongst millennials," says Ken Wilson, president of the Appraisal Institute, a professional association for real estate appraisers, and founder of Wilson Realty Advisors in Dallas. "You're also finding empty nesters that are looking into properties that have walkability."

But as Zillow.com chief economist Stan Humphries points out, location encompasses many other considerations. "Does it have a view? Is it a waterfront home?" he asks. "What's it next to? Is it near retail establishments? Or a highway?"

2. Size and layout. While homebuyers used to swoon over ample square footage, many have fallen out of love with the McMansion. "I think people realize when they buy a 3,300-square-foot house, they're not getting what they thought they were," Anderson says. "There's more upkeep and a lot more involved with taking care of these huge houses."

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http://news.yahoo.com/5-factors-influence-homes-resale-value-193450165.html

Rental history may soon influence credit scores | Chappaqua Real Estate

Landlords aren’t required to report to the three most popular credit bureaus, Equifax, Experian and TransUnion, so years of on-time rental payments don’t necessarily influence first-time homebuyers’ all-important credit scores when they apply for a mortgage, syndicated columnist Ken Harney wrote for The Columbus Dispatch.

But that’s changing, Harney writes. Experian and TransUnion are beginning to include rental-payment histories into credit files and will use them to calculate credit scores, he notes.
Harney also points out there are alternative credit reporting services available to first-time homebuyers, such as ECredable.com, that incorporate payment history information that isn’t reported to the major credit bureaus, such as phone and cable payments


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http://www.inman.com/wire/rental-history-may-soon-influence-credit-scores/?utm_source=20140702&utm_medium=email&utm_campaign=dailyheadlinesam