The Janssen Team
.
www.elliman.com
New York & Greenwich CT
Market Update
The sales of new U.S. single family homes fell only slightly in November in the wake of higher mortgage rates.
Meanwhile, prices on new homes continued to rise, signaling to national housing market experts that the market truly is weathering higher mortgage rates, according to a recent news article.
National Housing Market Showing Resilience, Experts Say
The Commerce Department recently reported that sales fell 2.1 percent to a seasonally adjusted annual rate of 464,000 units.
Here’s what else was revealed about recent market activity:
November’s numbers marked a fall from October’s revised 474,000 pace, which was the highest level since July 2008.
For November, economists had expected new home sales to be at a 445,000 unit pace in November.
Compared with November 2012, sales were up 16.6 percent.
Although higher mortgage rates have slowed the rate of home resales since August, activity is expected to accelerate next year.
Experts credit this in part to employment gains.
What’s more, experts say that a lean housing inventory is also expected to increase activity.
For instance, in November, the supply of houses on the market decreased by 6.7 percent.
The median price of a new home rose 10.6 percent from a year ago.
If the housing market remained at November’s sales pace, it would take 4.3 months to clean the market of available homes, which is the smallest inventory there’s been since June.
In October, the housing market inventory was at 4.5 months.
For a reference point, a 6-month supply is normally considered as a healthy balance between supply and demand.
Although home sales decreased in the Midwest and South, sales showed strong gains in the West and Northeast.
Helping You Buy and Sell Homes
The recent activity is actually encouraging, despite the fact that the sale of new single family homes actually dropped.That’s because the decrease was actually pretty slight, meaning that the national housing market is adapting to higher mortgage rates better than even some experts anticipated. Check back here soon for more national real estate news that affects your efforts as home buyers and sellers!
Manhattan Inventory
PRICE
ACTIVE
IN CONTRACT
500,000- 1,000,000
783
570
1,000,000-2,000,000
580
541
2,000,000-3,000,000
307
220
3,000,000-5,000,000
302
269
5,000,000-10,000,000
309
295
10,000,000-20,000,000
125
71
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Mortgage News
Rates as of 1/13/14
Product
Interest Rate
APR
Conforming 1and FHA Loans
30-Year Fixed
4.500%
4.586%
30-Year Fixed FHA
4.250%
5.837%
15-Year Fixed
3.750%
3.898%
5-Year ARM
3.375%
3.127%
5-Year ARM FHA
3.250%
3.968%
Larger Loan Amounts in Eligible Areas- Conforming and FHA.1
30-Year Fixed
4.500%
4.543%
30-Year Fixed FHA
4.250%
5.788%
5-Year ARM
3.625%
3.175%
Jumbo1 Loans – Amounts that exceed conforming loan limits1
30-Year Fixed
4.375%
4.403%
5-Year ARM
3.125%
2.987%
New Development Projects
75 WALL STREET
75 Wall Street defines world class luxury living with a full-service lifestyle and an abundance of amenities. Well appointed luxury condominiums offering dramatic 360 degree views of downtown Manhattan comprise the upper 24 floors of 75 Wall.
75 Wall residents have access to integrated hotel services including room service, catering, housekeeping, and valet laundry, as well as a full-time personal concierge. Designed by Rockwell Group, residences feature ten-foot ceilings and oversized windows, in-residence washers and dryers, wide-planked cerused oak flooring, CasesarStone Countertops, and Lacquer Kitchen Cabinetry by the Italian Design Studio, Boffi. Appliances by Sub-Zero, Liebherr, Bosch, Miele, Electrolux, and Sharp. Bathrooms feature custom wood cabinetry, Botticino Semi Classico Marble Floors, and Tub Surround.
THE STERLING MASON, 71 LAIGHT STREET
MODERN DEFINED. CLASSIC REDEFINED.
A modern reflection of historic Tribeca, The Sterling Mason offers thirty-three distinctive residences in a private enclave within Downtown’s most discreet landmark district. Noted architect Morris Adjmi transforms a quintessential 1905 masonry loft warehouse by adding to it a stunning identical twin, clad in contemporary metallic façade, creating a perfect copy of the iconic original. The generously scaled and appointed homes by interior design firm Gachot Inc. merge the flexibility of open-plan loft living with the sophistication of classic prewar residences. Three penthouses offer dramatic expansive terraces, fireplaces, and grand spaces for entertaining. An innovative collaboration of architecture, design, and craft, The Sterling Mason redefines classic Tribeca
Listings
PROPERTY DETAILS:
200 Chambers ST , # 5A
Price: $13,900.00
Neighborhood: Tribecca
3 Bed | 3 Baths
Listing ID: 1597711
FREE PARKING SPOT INCLUDED! This spectacular 3 Bedroom home has floor to ceiling windows, wood floors, a gourmet kitchen and luxury bath. There is a parking space that also comes with the apartment as well. This sun-flooded three-bed three-bath comes with all the finest in luxury appointments. Boasting high ceilings and floors-to-ceiling windows, there is little to be desired. Great open-kitchen featuring Sub-Zero appliances and glass-front cabinets with lava stone countertops. The spacious, three bathrooms are all tastefully done in marble and the master bathroom features a separate shower stall and his and her sinks. River, city and park views!
PROPERTY DETAILS:
IN CONTRACT
203 W 87TH ST , # 3
Price: $499,000
Neighborhood: UWS
2 Bed | 1 Baths
Listing ID: 1622401
Great 1st floor unit with hardwood floors and lots of windows. Building is only one block from subway, cross town bus and two blocks from central park. Have it all with out spending a fortune. Low maintenance at $985.41 per month. Storage is available in basement, Live-in super. For more information contact Peter Janis 203-249-1013/pjanis@elliman.com
PROPERTY DETAILS:
45 E 9TH ST, # 76
Price: $3,750,000
Neighborhood: Greenwich Village
2 Bed | 2 Baths
Listing ID: 1632472
Location, Location, Location. This building is on quiet tree lined street. Close to subway and restaurants and shops. This unit is completely updated with beautiful modern finishes. Living room features 16 foot high barrel ceiling with wood burning fireplace. Eat in kitchen and bedroom with full bath on 1st floor. 2nd floor features a master bedroom & master bath and home office. Tons of extra storage and closet space in the unit. Washer and dryer in unit. Roof top garden with views of the city. Easy to show call or email Peter Janis
203-249-1013/ pjanis@elliman.com
PROPERTY DETAILS:
SOLD
The Chatillion, 214 Riverside Dr, 202/203
Price: $949,000
Neighborhood: Upper West Side
2 Bed | 2 Baths
Listing ID: 1635081
NEW TO MARKET!!- Loft Like- XXX Mint Fully Renovated 2 BED, 2 BA Apartment in One of Riverside Drive’s Most Distinctive Pre-War Coop Buildings. This Stunning Home Has Top of the Line Appliances, GE Profile Kitchen, Granite Countertops, Fresca Bathroom, Novella Shower Heads, Brand New GE W/D in Unit! Central Air, Exposed Brick, Custom Blinds, Ample Closet Space, Custom Built-ins, Hardwood Floors, French Doors. P/T Doorman and a BREATHTAKING Roof-Deck with Unobstructed Panoramic Views of the Hudson!! Steps From Riverside Park, Whole Foods, 2/3 Express Train, Westide Market, Equinox Fitness and Many Fantastic UWS Shops and Restaurants. For more information please contact Lisa Kobiolke at 917-579-2179/ lisa.kobiolke@elliman.com
PROPERTY DETAILS:
SOLD
60 W 68th ST, # 5BC
Price: $2,225,000
Neighborhood: UWS
3 Bed | 3 Baths
Listing ID: 1579082
Gorgeous prewar home located in the heart of the UWS at 68th St between Central Park Columbus Ave. This generous sized prewar home offers a 3 Bedroom, 3 Bathroom layouts with an open living room /dining room combination. The home boasts a beautiful open California kitchen with French country accents, top of the line appliances including a Subzero refrigerator, Wolf stove top and oven, Bosch dishwasher, Miele W/D, with Baldwin fixtures throughout. There are solid oak floors, a custom cherry wood library (or third bedroom), Tumbled marble tile in master bath with custom basket weave marble floor, imported Italian 8 Ft. solid wood doors and custom tile entry way. Amenities include * Central Heat * Dishwasher * Hardwood Floors * Washer/Dryer * Elevator * Gym* Roof Deck.
Property Details
Rowayton, CT
$1,995,000
3Bed/ 3BA
Single Family Home
Direct Waterfront home on tidal inlet with private fenced yard and floating dock. Total gut renovation by current owner with careful attention to quality and details. Impeccable! An elegant yet comfortable retreat, this home is easily accessible from New York City by car or Metro North out of Grand Central train station. Each bedroom features its own full bath, and most rooms have water views. A cook’s kitchen opens to the dining area and the stone terrace with outdoor grill. The living room has a wood burning fireplace and also opens to the terrace. There is an awning for shade as needed, and the home is wired for and includes a portable generator. Just come and relax!
Property Taxes: $16,880
For more information call Peter Janis 203-249-1013
Research New York City Building Data and Comps
You can search specific buildings in Manhattan and look at recent comps, photographs of the building and the neighborhood, and read recent blogs that relate to the building and nearby places of interest.
The Elliman Report
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Report can’t be beat. Information about Coops, and Condominiums, and Townhouses.
The Janssen Team
FOR APPOINTMENT CONTACT:
Eric Janssen
ejanssen@elliman.com
212.769.6534
Peter Janis
pjanis@gmail.com
203-249-1013
Kim Durney
kim.durney@elliman.com
917-523-6930
Lisa Kobiolke
lisa.kobiolke@elliman.com
917-579-2179