Archive for January, 2013

HOME PRICES BEGIN THEIR NEXT ASCEND

Thursday, January 31st, 2013

The November Standard & Poor Case-Shiller Report confirms the next trend in home sales has legs!

Here at Town & Country, we have gone so far as to predict the housing market will be the primary driver to a healthy US economy.

As we report monthly, the Case-Shiller report studies 20 major metropolitan areas throughout the country for a year over year analysis.

Home prices rose 5.5% in November 2012 compared to November 2011. In fact more than 50% of the cities in the report had year over year increases in excess of 7%.

Phoenix registered the greatest gain of 22.8% !

November’s increase was the strongest increase since the peak of the housing boom back in August 2006.

The American Dream is wide-awake!

 

ARE YOU IN??

HOMES SALES HIGHEST SINCE 2004

Thursday, January 24th, 2013

The National Association of Realtors released their year end report showing 4.65 million previously owned homes traded hands in 2012… that was a 9.2% leap from 2011. And the greatest annual gain since 2004.
The total number of transfers hasn’t been close to that since the year 2007 when 5.04 million homes were sold.
Nationally, housing markets have been steadily improving over 2012 though December was ever so slightly down by 1% from November… but December 2012 was 13% higher than December 2011.
With inventory levels low and interest rates at historic lows, continued steady demand should result in an upturn in prices in 2013.

NEW FOOTBRIDGE FOR SPRINGS

Monday, January 21st, 2013

The Springs community celebrated the rebuilding of the foot bridge over Pussy's Pond on Sunday, considered to be a local treasure. 

The entire 5th grade class of the Springs School went to Town Hall in 2009 to ask the Town Board to rebuild the Old Bridge which had been removed because of weather damage and vandalism.

EAST HAMPTON AQUIRES 15 ACRES

Tuesday, January 8th, 2013

East Hampton Town Board voted unanimously on January 3rd—the first session of 2013—to purchase 2 parcels with CPF money. As you know CPF, Community Preservation Funds, is the kitty created by the 2% transfer tax on buyers of real property on the East End at below entry level prices.

The 11 acres in Springs was a subdivision off Neck Path owned by Julie Cochran. Neck Path is home to a considerable amount of preserved land, this 11 acres will add to that and preserve property in the highly sensitive water recharge area.

The second property owned by Barry Brown, backs on to 27 in Wainscott. It had been approved for 4 lots… fortunately we will not have 4 more lots accessing Montauk Highway at the entrance to East Hampton.

Both of significant value to future generations for different reasons!