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Category Archives: Bedford
Douglas Elliman releases Manhattan-Brooklyn Rental Report | Bedford Realtor
Douglas Elliman Real Estate just released the “Elliman Report: Manhattan & Brooklyn Rentals April 2013,” the leading resource on the state of the Manhattan and Brooklyn rental markets. As always, our market reports are produced in conjunction with Miller Samuel to provide you and your clients with the most comprehensive and neutral market insight available.
Year to date, Manhattan rents continued to rise at the same brisk pace as last year. The gains in rental prices have been consistent across all apartment sizes compared to a year ago. Landlord concessions were used sparingly and the vacancy rate remained below long-term averages. The continuing strength of the rental market has been somewhat surprising since the Manhattan sales market has also seen rising prices and sales volume. Tight credit conditions and an improving regional economy continue to keep pressure on the demand for rental housing.
After several months of rapid gains, Brooklyn rental price increases slowed in the month of April. However, the rapid pace of the market continued with brisk listing periods and the lowest listing discount seen in the new year. Competition from a robust sales market along with low mortgage rates are keeping increases in check. We anticipate similar conditions over the coming months.
We constantly look for ways to provide our clients with better information to enable them to make more informed decisions. Our efforts to make this market report series possible reflect my strong belief that in a market that is constantly changing, access to timely information is one of the greatest resources we can offer our clients. We are committed to providing the best information and services in the industry. Explore our full market report series covering Manhattan, Brooklyn, Queens, Long Island, The Hamptons, North Fork, Westchester/Putnam, Miami, Boca Raton, Fort Lauderdale and Palm Beach at http://www.elliman.com/marketreports.
Douglas Elliman releases Manhattan-Brooklyn Rental Report | Bedford Realtor.
Market Overheats in Scarsdale | Real Estate
The experts concur – it’s a banner year for home sales in Scarsdale. We checked in with three local agencies for their observations on the Spring market and here is what they had to say:
Zach Harrison:
Platinum Drive:
“This is the strongest real estate market I have seen in Westchester since 2006. Bidding wars have been commonplace, driven by low interest rates and a lack of inventory.”
Linda Roth
Coldwell Banker:
This spring is an exceptional time to sell real estate in Scarsdale/Edgemont and surrounding communities. In addition the national real estate market is also showing strong growth. The combination of lack of inventory, an improving economy and historically low interest rates has brought out large numbers of purchasers, which in turn bring multiple offers, many over the asking price and with excellent terms. As always, lower Westchester with its convenient location leads the market.
Lewis Arlt
Houlihan Lawrence:
Looking out the rear view mirror at sold properties in Scarsdale, we see an up-tick of 9.3% year-to-date (from 43 last year at this date, to 47 this year). And an increase of 11.7% year over year from May 6, 2012 (206 sold) to May 6, 2013 (230 sold). The median sale price stands at $1.246M year to date, compared to $1.285 last year at this time. (a 3% drop, statistically not very significant). The good news is prices remain relatively stable and sales are moving forward at a healthy pace.
Peering out the windshield at pending business, we can see a very healthy ratio of active listings to pending deals. The 112 currently active listings (a 19% decrease compared to 2012 at this time) is well balanced by 82 deals in contract, compared to 76 last year – nearly 8% more. Decreased inventory across the region has fueled higher prices as more buyers compete for fewer homes. This phenomenon has led to some highly competitive bidding and sale prices exceeding expectations, most evidenced in the $700,000-1,500,000 price range. Rates are low, consumer confidence is strong, and we are currently on pace to record more sales this year in the village than in a decade.
Scarsdale, NY 10583 | Market Overheats in Scarsdale | Real Estate | Your Community Corner.
Spring real estate market sees record pending sales in Seacoast | Bedford Corners Real Estate
PORTSMOUTH — The Seacoast Board of Realtors say the spring Seacoast real estate market is shaping up to be the best in at least three years.
The board reported a record number of single-family and condominium pending sales in April in the 13 sample seacoast towns.
The 13 sample towns are Exeter, Greenland, Hampton, Hampton Falls, New Castle, Newfields, Newington, North Hampton, Newmarket, Portsmouth Rye, Seabrook and Stratham.
The 90 April pending single family sales are 18 more than the previous record set last May. There were 67 sales in the month, up 15.5 percent from last year. They were paced by 21 sales in the $400,000 to $700,000 price category, nine more than last year at this time. There were 37 sales in the category of less than $400,000.
Sales of single-family homes in the sample towns have increased through most of the first four recorded months of 2013. There were 59 in January, 55 in February, 63 in March and 67 in April.
The median sales price of a Seacoast single-family home was $369,800 up 21.7 percent from last year.
While the 35 pending condominium sales are also a new three-year record, condos again recorded a mixed bag of sales results. The average price of a condo was up 10.52 percent from last year at $210,000, but fell to its lowest level in three months in 2013. Closed sales also were off .06 percent from a year ago.
Inventory levels continue to shrink as demand increases, according to the Seacoast Board of Realtors. Available single-family units dropped 21.1 percent from a year ago, while condo inventory is off 17.2 percent from last year.
John Paulson Lists His More Modest Aspen Home for $30M | Armonk NY Real Estate
Location: Aspen, Colo.
Price: $29,900,000
The Skinny: Hedge fund manager John Paulson, who made most of his $11.2B fortune by shorting the sub-prime mortgage market, bought this extravagant Aspen home, dubbed Aspen Lakes Ranch, for $24.5M. Set on 8.4 acres, the 13,000-square-foot mansion was built on spec by a local developer, who included seven bedrooms, ten bathrooms, a stocked pond, a private sandy beach, and a guest house. Apparently, this wasn’t quite enough for Paulson, his wife, and two daughters, who are now decamping for one of America’s ultimate estates. Last summer, the family paid $49M for Saudi Prince Bandar’s Hala Ranch, originally listed in 2006 for $135M, and renamed it Star Ranch. The 128-acre spread is centered around a giant, 56,000-square-foot main house, with 15 bedrooms, 16 bathrooms, barber shop and beauty salon, and a master suite that’s said to be large enough “for a party for 450 people.” Now, Paulson is looking to trade-in the ever so slightly more modest Aspen Lakes Ranch, John Paulson lists Aspen Lakes Ranch for cool $29.9 millionasking$29.9M. The family wouldn’t be hurting too much, even if he had to keep both mountain getaways. After all, the hedge funder personally pocketed a record $4.9B in 2010
Price: $29,900,000
The Skinny: Hedge fund manager John Paulson, who made most of his $11.2B fortune by shorting the sub-prime mortgage market, bought this extravagant Aspen home, dubbed Aspen Lakes Ranch, for $24.5M. Set on 8.4 acres, the 13,000-square-foot mansion was built on spec by a local developer, who included seven bedrooms, ten bathrooms, a stocked pond, a private sandy beach, and a guest house. Apparently, this wasn’t quite enough for Paulson, his wife, and two daughters, who are now decamping for one of America’s ultimate estates. Last summer, the family paid $49M for Saudi Prince Bandar’s Hala Ranch, originally listed in 2006 for $135M, and renamed it Star Ranch. The 128-acre spread is centered around a giant, 56,000-square-foot main house, with 15 bedrooms, 16 bathrooms, barber shop and beauty salon, and a master suite that’s said to be large enough “for a party for 450 people.” Now, Paulson is looking to trade-in the ever so slightly more modest Aspen Lakes Ranch, John Paulson lists Aspen Lakes Ranch for cool $29.9 millionasking$29.9M. The family wouldn’t be hurting too much, even if he had to keep both mountain getaways. After all, the hedge funder personally pocketed a record $4.9B in 2010
Bedford NY Area Strong Markets | Weak Markets | RobReportBlog
Bedford NY Area Strong Markets | Weak Markets | RobReportBlog
Strong Markets
South Salem up 26%
Armonk up 85%
Chappaqua up 15%
Bedford Corners up 25%
Bedford Hills up 11%
North Salem up 55%
Weak Markets
Pound Ridge down 11%
Bedford Village down 4%
Katonah down 4.5%
Looking at sales over the last six months compared to the same period last year.
Remodeling? Avoid These Costly Mistakes | Armonk NY Homes
While many Americans are ready to take on remodeling/renovation projects this spring, doing it the wrong way can be costly. Some errors to avoid:
Not knowing exactly what you want
If you don’t know exactly what you want or specify what you want, you’re going to get what the contractor thinks you want. And it could end up costing you dearly! For home remodeling design ideas, inspiration and a whole lot more (including cost estimates), check out Zillow Digs (free on the iPad or the Web). You can search by style, cost or room. And what’s really cool is that you can search by specific elements within a room, such as quartz or granite countertops, for example. Share your boards with your contractor so that you’re clear on your objectives.
Hiring the first contractor who comes along
Sure, he may seem nice, and he may seem competent, but have you checked him out? What do your friends say about him? Have you contacted his references? Seen his work? Are there any complaints lodged against him? (P.S.: The Better Business Bureau just released its top 10 list of inquiries from consumers, and half relate to home improvement.) What do subcontractors and suppliers have to say about their dealings with him? Is he licensed and insured? As excited as you may be about taking on this new project, you need to do a fair amount of due diligence.
Jumping at the lowest bid
Get at least three bids, and throw out the lowest one so as to avoid the inevitable consequence: cheap materials, shoddy installation, etc. Don’t invite trouble in! Rather, hire someone who not only comes in within target, price-wise, but is someone you feel personally comfortable with.
Not insisting on a written contract
Every detail about your project should be included in a contract, from the start date to the approximate completion date, right down to the brand of fixtures to the number of coats of paint. Be as specific as possible! Also important: setting a time limit for fixing defects so that if a dispute arises, it’s not endless.
Not setting a payment schedule
How you pay a contractor is almost as important as how much. Spell out the payment schedule in the contract, beginning with the amount to be paid upfront (which should be no more than 30 percent). Periodic payments after the work starts should correspond to completed segments of the project. And the best way to ensure that work gets done when and how you want it? Leave a significant sum (at least 10 percent) to be paid only when the job is completed to your satisfaction.
3 Tips for Insuring Your First Home | Armonk Real Estate
Buying your first home can be both an exciting and a scary experience. Many homeowners are appreciative of any bit of information that would help make the process less stressful and as painless as possible. Home insurance is usually a major contributor to the anxieties new homeowners’ experience. They are often confused about how much insurance they need. This post will give easy tips for choosing the best insurance for new home buyers.
Your House Should Be Fully Covered
The coverage on the insurance policy should reflect an amount that can adequately take care of the cost of rebuilding and refurbishing your entire house in the event that you lose it completely. Insurance companies may use a cost estimator to ascertain the cost replacement estimate, but you can have a home builder assess your home and furnish you with an estimate of the rebuilding cost. This should include the unique and/or expensive details of your home (if there are any). You do not want to end up being underinsured. Once you have the estimate for rebuilding, you will need to figure out which coverage to take. The choices are:
- Guaranteed Replacement Cost Coverage – The insurer bears the cost for the rebuilding your home in spite of that cost. Very few insurers are offering these policies now.
- Extended Replacement Coverage – This coverage involves the capping of the payout you would receive to approximately 125% of the insured value of your home.
- Inflation Guarantee (or Guard) – This is a feature that ensures the insured value of your home stays on par with that of the marketplace.
Strive to get a reliable appraisal and extended replacement coverage along with an inflation guarantee. These will place you in a good position.
Liability Insurance
Home owners are sometimes caught off guard by third party claims for an injury someone incurred at their house or damages they caused to their neighbor’s property. These things happen, so protect yourself by ensuring your home insurance includes a liability insurance policy. Liability insurance gives the homeowner protection against any third party claims of damages and personal injury that occur on their property or are caused by them. Someone may fall and hurt themselves while on your property, or in the case of neighbors living in close proximity, your child could be playing and accidentally cause damage to their property. Liability insurance takes the burden of paying for medical bills or damages from your pocket, as the insurance company will take care of it.
Get Additional Coverage for Your Valuables
The standard insurance policy covers you home and possessions against eventualities such as natural disasters, fires, theft and accidents, but only does so indirectly for certain assets. Homeowners are sometimes caught off guard when they suffer from a disaster and realize they will not receive full compensation for certain valuables inside the house. The standard HO-3 policy takes care of the structural aspect of the house along with its contents, but there is limits the compensation for expensive possessions such as artwork and fine jewelry. You can obtain full coverage for them by paying a little extra on your policy each year.
Mobile Video Viewing on the Rise: Why It Matters [Study] | Bedford Corners Realtor
Business Insider’s subscription research service, BI Intelligence, has conducted a study about mobile video viewing habits that show a tremendous uptick in the amount of video watched on phones and tablets over the last year. The uptick isn’t surprising, but the amount of uptick is. What’s so vastly different between 2011 video viewing habits and 2012’s? The study finds that the rollout of faster 4G networks, younger audiences gravitating to mobile viewing, and the spread of tablets as the main reasons. But there is a lot more data to consider in this study. Let’s take a look.
Mobile Video Continues to Rise in Stature
Here is a chart detailing the viewing habits by device in Q4 of 2012, using data from Ooyala and charted by BI Intelligence:
![Mobile Video Viewing on the Rise: Why It Matters [Study]](http://cdn2.reelstatic.com/wp-content/uploads/2013/05/business-insider-ooyala-graph.png "business insider ooyala graph")
Here are some amazing stats (courtesy of BI Intelligence):
- Video on smartphones reached 41 million people by the end of last year. Additionally, as of January 2013, 41 percent of smartphone owners watch video on the device as opposed to 22 percent as recently as April 2012. People in the age group of 12-17 watch video on their mobile phone 24 minutes a week, and the 18-24 set watch 28 minutes, compared to 11 minutes for the average person. Both groups only watch two-thirds of the traditional TV of the average person.
- While tablets make up a fraction of the total video-capable devices out there, people watch a ton of video on them: 3.5 percent of all online video around the world is watched on them, while 4.5 percent of videos are watched on the far more prevalent smartphones.
- Tablet viewers watch longer videos (63 percent of their time was spent on videos 10 minutes or longer), and their viewing patterns are close to broadcast TV, making them easier to target for advertisers and broadcasters who know the ins-and-outs of TV best.
- People who own tablets make video a huge part of it. It’s one of the top 10 activities they use a tablet for, which can’t be said of smartphones (comScore). These tablet owners are more likely to cut the cord, or never bother with traditional TV in the first place (Morgan Stanley). The conversion rates on the ads are much higher than on smartphones. BI Intelligence cites the Deloitte “State of the Media Democracy Survey” when mentioning that, for the age group of 14-23, watching TV shows on a tablet rivals the time spent watching DVDs and Blu-Rays. 25 percent of the group watch TV shows every day or weekly on tablets.
- Finally, tablet owners watch 6.7 hours of video content a week, as opposed to non-tablet owners, who watch 5.5 hours (courtesy of Motorola).
The whole point? With $520 million (13 percent) of the entire ad market devoted to mobile video, finding these tablet owners, who skew younger and voraciously consume video is important.
Source: Mobile Video Viewing on the Rise: Why It Matters [Study]
MY MARKETING PLAN IS BETTER THAN YOURS | Bedford Realtor
Is it?
Do you feel you offer a better marketing strategy than the next Realtor?
You do? Good!
Now, can people easily see that on your site? Uh-oh, this is where most agents are getting tripped up.
While perusing a fantastic Google+ community page called Photography for Real Estate, I stumbled upon an excellent video pitting “other” Realtor’s images compared to what the Connie Barnes’ team is producing. Rather than just telling you how genius I think this video is, please watch it.
After watching this and being floored, not only by the presentation of the video, but the content contained therein, I knew I had to interview Connie and her team. It’s not just about the plethora of comparison videos she has, but also her marketing centric posts like this one on the iPhone and this one explaining their team’s marketing plan. They are front and center, fully transparent, and showing the world why they are the best in their local area. Check out her numbers below.
Also, after visiting her site www.conniebarnes.com, look at her website traffic and you will quickly see how having such compelling marketing can lead to $48 million in sales.
Remember, your website isn’t here there to draw people in from the web, it’s also there to provide reassurance to clients you have already met and continue to tell your story long after you left their house.
I wanted to dive deeper into Connie’s marketing plan, motivation behind her site structure, and how she started off on her path of marketing transparency.
After watching the interview, if you have any questions for Connie or her team, please post them to theirGoogle+ page!
I know this interview is quite long, but worth all 15 minutes. Enjoy!