• A compilation of timely information regarding matters of interest to homeowners, buyers and sellers of real estate in Dobbs Ferry, the Rivertowns and the Westchester County, NY area in general.

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  • Park Hill Terr, Dobbs Ferry SOLD!

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  • Secor Road, Hartsdale SOLD!

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  • Virginia Ave, Dobbs Ferry SOLD!

  • Division Street, Hastings SOLD!

  • Crescent Ln, Dobbs Ferry SOLD!

  • Alkamont Ave, Scarsdale SOLD!

  • Temple Rd, Dobbs Ferry SOLD!

  • 17 Kent Avenue, Hastings SOLD!

Top Five Reasons To Own A Home

The top benefits of homeownership haven’t changed, even in the face of a down economy. Here are the top five:
1. Savings: Be sure to check out the calculator at the end of this article. You’ll find that long-term homeownership is still a way to get big savings.
2. Tax Breaks: They’re not on the chopping block just yet. Many homeowners are still able to take the mortgage interest deduction (MID) each year, along with great rebates and credits associated with upgrades made to your home.
3. Equity: When you pay a landlord, it’s money down the drain. When you pay on a mortgage, you are paying towards owning a piece of something. You may still owe $100,000, but perhaps the home is worth $200,000. This means you have $100,000 worth of equity you’ve built up over time.
4. Budgeting: Unless you live in a rent-controlled apartment (and not many do), then each lease renewal could mean a jump in prices. A fixed-rate mortgage, however, means your monthly payment is the same amount for the life of the loan. A $1,000 a month payment on a 30-year mortgage is the same now as it will be in 30 years!
5. Security: When you own, it’s yours. You can paint, improve, and decorate. The trees and flowers are yours to enjoy — for a lifetime if you wish. Most homeowners are in neighborhoods with other homeowners, meaning more time to build relationships and friendships. Recent studies have also shown that homeowners rank themselves as healthier than their renter counterparts.
Should you rent or buy? For a strictly financial evaluation, be sure to check out The New York Times’ Interactive calculator to crunch the numbers. This advanced calculator takes into account everything from yearly costs to selling costs and broker fees.

Read more at:
http://realtytimes.com/rtpages/20110830_own.htm

Easy Concrete Countertops


In the competitive real estate markets of Dobbs Ferry, Irvington, Hastings-on-Hudson and the rest of the Rivertowns, where up to the minute styling and move-in condition are the cornerstones of a successful sale, can it really be this easy to get the now trendy look and easy durability of concrete kitchen countertops? According to this homeowner, on her great blog, it’s almost as easy as mixing and pouring the concrete. Perhaps having a handy partner helps and also assuming you don’t mind doing it all in your kitchen, since most of us tend to do things twice. The first way the hard, messy way, and the second, the clean, right way. And all of this, supposedly, for not much more than $200. Read more at:
http://designstocker.blogspot.com/2011/05/big-kitchen-reveal.html

And for an even more in-depth look at how this was done:
http://designstocker.blogspot.com/2011/08/concrete-countertops.html

Mortgage Rates Lowest in 50 Years

Mortgage rates for buyers in the Rivertowns and the rest of the country are at the lowest point they have been in the past 50 years. That is a staggering observation and something that should be taken seriously by any first time homebuyers or those considering moving up to a larger home or downsizing. With rates this low and prices some 30% off their pre-2008 levels, one would be hard pressed to find a better time to purchase real estate. The current rate for a fixed 30 year mortgage with no points is 4.15%. 15 year fixed rate products averaged 3.36% and 5 year hybrid ARM’s averaged 3.08%. Read more at:
http://www.marketwatch.com/story/mortgage-rates-hit-record-lows-freddie-mac-2011-08-18?reflink=MW_GoogleNews

Ten Tax Tips for Individuals Selling Their Home

IRS Summertime Tax Tip 2011-15 

The Internal Revenue Service has some important information to share with individuals who have sold or are about to sell their home. If you have a gain from the sale of your main home, you may qualify to exclude all or part of that gain from your income. Here are ten tips from the IRS to keep in mind when selling your home.

http://www.irs.gov/newsroom/article/0,,id=243682,00.html

New Architectural Digest “Amazing Kitchens” Design App



An interesting new “app” for iPhone and iPad users.
“Architectural Digest’s first ever app for the iPad and iPhone, AD Amazing Kitchens is an essential tool for those planning a remodel of one of the most important rooms in the home. Now with new products, more tips, and additional photos, it is your source for endless kitchen inspiriration from Ad, the international design authority.”
http://itunes.apple.com/us/app/ad-amazing-kitchens/id424382251?mt=8

Mortgage Rates Down Again

For the second week in a row, contrary to popular thinking for this point in time, mortgage rates have gone even lower. In response to the European debt concerns and investors rush to U.S. Treasuraries, the 30 year fixed rate mortgage fell to 4.32% this week. This represents it’s lowest point for 2011. The 15 year fixed rate is down to 3.5%.
Additionally, Rand Mortgage is currently offering a 30 year fixed rate product, with no points, at an even 4.0%.
http://www.housingwire.com/2011/08/11/mortgage-rates-plummet-to-new-lows-on-market-concerns

96 Waterfront Acres Available in Sleepy Hollow

General Motors has issued an RFP “Request For Proposals” to redevelop the former auto manufacturers property on the Hudson River in Sleepy Hollow. Potential developers have until Sept 2, 2011 to make their proposal for the property. While the project is advertised in the RFP as having permits and state approvals, there are still many issues that remain unresolved including obtaining local village planning and building approvals. Additionally, there are toxins on the river bottom adjacent to the site, including lead, deposited by GM during its 82 year occupancy. These will need to be removed by any developer, via dredging or some other means, as part of any decision to move forward. As if that wasn’t enough, there is also a lawsuit over the potential for traffic congestion brought by the neighboring village of Tarrytown that must be resolved as well.
The plan calls for 1,177 housing units, a 140 unit hotel. 172,000 sq.ft. of office space and almost 45 acres for village parkland and other village uses. According to village officials a shovel coud be in the ground by sometime in 2012.
http://gmsleepyhollowdevelopmentopportunity.com/

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