Category Archives: Bedford

Sequestration isn’t affecting D.C.’s spring housing market | Armonk NY Real Estate

Compared with a year ago, March sales in the Washington metropolitan area increased 9.9 percent, while average prices rose  9.7 percent.

The year-over-year price appreciation in March is a continuation of a 16-month trend of price growth in the metropolitan area.  Year-over-year average prices were up 12.7 percent for single-family detached houses, 9.8 percent for townhouses and 6.7 percent for condominiums.  The March data can provide an early indication of the strength of the housing market going into the rest of the year.

Sales activity tends to be much brisker in March than in February, and this year is no exception, with the number of sales in the metropolitan area increasing by 33.4 percent between February and March, an increase that is in line with the 10-year average increase.  (Home sales data are from MRIS, the region’s multiple listing service.)  Sales were up in March over February in all 22 jurisdictions in the Washington metropolitan area.

However, compared with last year, the February-to-March uptick was lower in the District and in Fairfax County and the independent cities of Fairfax, Falls Church and Alexandria.  The relatively slower sales in March in these jurisdictions can be at least partially explained by the very low inventories; potential buyers have little to choose from in these locations.

Home prices surging in Massachusetts; open houses mobbed | Bedford Corners Real Estate

Tom and Sarah Kotowski got all the turnout they could have hoped for at their open house.

Close to 100 people showed up last Sunday to take a look at their three-bedroom Cape listed for $299,900 on a quiet East Weymouth cul-de-sac. Four made offers. By Tuesday, the couple had an agreement.

“For a seller, it’s excellent right now,” Sarah Kotowski said. “Inventory is flying.”

But as the couple looks for a home closer to Tom’s workplace west of Boston, they face the same dynamic.

“I can’t tell you how many open houses we go to and then the next day they’re gone (off the market),” Sarah said.

The strong seller’s market that has emerged this spring is a double-edged sword for families like the Kotowskis, whose house was on the market for less than a week.

Home prices are rising across Massachusetts this spring in a reflection of demand that is outstripping supply. There are fewer than 20,000 single-family homes on the market, down 30 percent from

San Mateo County home prices hitting new highs, selling above asking | Bedford Hills Real Estate

After five years of declining home values, the Bay Area housing market is finally coming back. According to the real estate website Zillow, areas like Brentwood, Antioch and Richmond are still hurting with home prices as much as 66 percent lower than their peak values, but there’s a strong comeback in San Francisco and parts of the Peninsula like San Carlos and Palo Alto, and areas of the South Bay like Los Gatos.

In Belmont, the housing market is hotter than ever. One house is just over 1,000 square feet. It was listed for $725,000 and the winning bid came in at $100,000 above that.

A three bedroom home in San Carlos is about to go on the market, but don’t expect it to stay there very long. If recent activity is any indication, the house will sell fast and likely well over its asking price.

Bedford Village Sales Down 4% | Median Price Drops 14% | RobReportBlog

Bedford Village NY Real Estate ReportRobReportBlog
20136 months ending 4/252012
24Sales25
$1,042,500.00median sold price$1,225,000.00
$370,000.00low sold price$384,800.00
$3,500,000.00high sold price$4,750,000.00
3705average size4625
$387.00ave. price per foot$309.00
171ave days on market246
$1,257,239.00average sold price$1,515,589.00
93.03%ave sold to ask92.54%

Investors No Longer in the Driver’s Seat | Armonk NY Real Estate

After accounting for one out of four home sales in the depths of the housing recession and fueled turn-arounds in dozens of markets where waves of foreclosures and battered home values scared off other buyers, real estate investors today are playing a greatly diminished role in the housing recovery.

The latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey results suggest first-time homebuyers and current homeowners, not investors, are in fact the major players in this year’s marketplace.

The active presence of non-investor homebuyers is helping create a remarkably strong market for non-distressed properties leading into the important spring-summer home buying season.

HousingPulse nationwide data for March show that current homeowners continued to dominate the overall home purchase market with a 42.2 percent market share, based on a three-month moving average. While that was down from the levels seen last fall, it was still up on a year-over-year basis. First-time homebuyers stepped up their activity, reaching an eight-month market share high of 36.1 percent in March.

Investors’ share of the national housing market fell to 21.8 percent in March, down from a peak of 25.3 percent of all transactions in May 2012.

Last week a leading analyst on single family rentals also argued that the housing recovery is being driven more by buyers seeking a place to live than by investors.

Nearly Half of Homeowners Don’t Know Their Flood Risk | Bedford Hills Real Estate

Despite extensive media coverage of the widespread, multistate flooding caused by Superstorm Sandy last fall and Hurricane Irene in the summer of 2011, 1 in 5 homeowners is still surprised to learn that home insurance does not cover flooding, according to a Bankrate nationwide survey as part of the April Financial Security Index.

The survey found that 18 percent of consumers didn’t know that a standard homeowners policy specifically excludes flood-related damage, while 81 percent were aware of the need to purchase a separate flood insurance policy from the federal National Flood Insurance Program, or NFIP, to guard against flood loss.

The Federal Emergency Management Agency, or FEMA, which administers the NFIP, generally classifies properties as either at high risk or moderate-to-low risk of flooding. When consumers were asked if they knew for sure which category applies to their home, just more than half, or 51 percent, said “yes,” while 43 percent said “no.”

Bankrate’s survey was conducted by Princeton Survey Research Associates International and involved landline and cellphone interviews from April 4-7 with a nationally representative sample of 1,003 adults in the continental United States. The margin of error is plus or minus 3.7 percentage points.

“I was very happy that 4 out of 5 survey respondents understood that standard homeowners insurance does not cover flood,” he says. “This number is a much higher awareness level than we’ve seen in the past.”

Foster a Culture of Gratitude | Bedford NY Realtor

In the movie Remember the Titans, Coach Herman Boone takes his high school football team to the battleground of Gettysburg. Having inherited a fractured and divided squad, Coach Boone implores the players to “take a lesson from the dead. If we don’t come together, right now on this hallowed ground, we too will be destroyed, just like they were.” Coach Boone then establishes the primacy of an important team virtue: “I don’t care if you like each other right now, but you will respect each other.”

In every workplace and on every team, all people have the innate desire to feel appreciated and valued by others. Like Coach Boone, leaders of teams — and team members themselves — should work to foster a culture of value and appreciation.

High performing teams have well-defined goals, systems of accountability, clear roles and responsibilities, and open communication. Just as importantly, teams that foster cohesion with a sense of appreciation and gratitude among the team members maximize performance on a number of dimensions. Jon R. Katzenbach and Douglas K. Smith, authors of the Wisdom of Teams, define a high-performing team in part by members’ strong personal commitment to the growth and success of each team member and of the team as a whole.

Research on gratitude and appreciation demonstrates that when employees feel valued, they have high job satisfaction, are willing to work longer hours, engage in productive relationships with co-workers and supervisors, are motivated to do their best, and work towards achieving the company’s goals. Google, which sits atop many best-places-to-work lists, fosters feelings of employee value through an open culture that promotes employee input, routinely rewards and recognizes performance, and encourages personal growth. In a recent interview, CEO Larry Page stated, “My job as a leader is to make sure everybody in the company has great opportunities, and that they feel they’re having a meaningful impact and are contributing to the good of society.”

And consider the consequences of not fostering a culture of gratitude: A study of over 1,700 employees conducted in 2012 by the American Psychological Association (APA) indicated that more than half of all employees intended to search for new jobs because they felt underappreciated and undervalued.

Several recent articles point out the importance of saying “thank you” and giving specific praise to employees when earned in genuine, honest, and heartfelt ways. Mark Gaston’s blog on How to Give a Meaningful Thank-you is full of great advice such as sharing with employees how their contributions had personal significance for the leader and team.
In addition to these very important gestures of thanks, recent research suggests that a leader can enhance a culture of gratitude in the following ways.

  1. Help others develop. Interestingly, the APA study indicated that 70% of employees feel valued at work when they have opportunities for growth and development. While promotion opportunities within companies may sometimes be limited, you can still invest in team members’ professional development through training, assignment to new and interesting projects, participation on task forces, and exposure to new and interesting different areas through cross-training. Employees frequently have skills that extend beyond the position for which the company hired them. Additionally, they typically grow their skills over time. Leveraging these broad skill sets can lead to greater engagement and satisfaction.
  2. Involve employees. Team members feel valued when they have an opportunity to take part in decision-making, problem-solving, and to use their skills to benefit the organization. A 2012 study by the Society of Human Resource Management (SHRM) showed the importance of employees’ opportunities to use skills and abilities, with 63% of respondents listing the ability to use their skills as the top driver of their job satisfaction.
  3. Support camaraderie and collegiality. I conducted a study many years ago on the positive benefits of friendship in the workplace. Camaraderie in the workplace can lead to greater job satisfaction and commitment to the organization and doing a job well. Leaders should foster collegiality, help to eliminate toxic and dysfunctional team behaviors, and create opportunities for team members other than on work projects. At Google, the games/toys the company provides allow for entertaining and informal interactions among colleagues. These positive and fun feelings carry over when the colleagues work on projects together. The SHRM study in 2012 found employees’ relationships with their co-workers was the second highest factor related to their connection and commitment to the organization. Team leaders may also consider using social contracts, explicit agreements on how team members interact, to help shape positive behaviors within their teams.

Taking the time and effort to create a culture that values and appreciates the diversity and similarity within a team can reap great rewards in terms of performance and satisfaction of the entire team. At the end of the day, this principle is really very simple: we all want to feel valued and appreciated. So, in addition to overt recognition to employees, use a variety of ways to build a culture of gratitude.

Bedford Village Sales Down 4% | Median Price Drops 14% | RobReportBlog

Bedford Village NY Real Estate ReportRobReportBlog
20136 months ending 4/252012
24Sales25
$1,042,500.00median sold price$1,225,000.00
$370,000.00low sold price$384,800.00
$3,500,000.00high sold price$4,750,000.00
3705average size4625
$387.00ave. price per foot$309.00
171ave days on market246
$1,257,239.00average sold price$1,515,589.00
93.03%ave sold to ask92.54%

Westchester County’s Robert Astorino, under contempt threat, agrees to sign bill he vetoed | Armonk NY Homes

Under the threat of a federal contempt citation, the leader of a suburban New York county agreed Wednesday to sign the same fair-housing bill he vetoed in 2010 — if the county Legislature passes it again.

Westchester County Executive Robert Astorino sent the bill back to the Board of Legislators, urged its passage and said he would approve it.

“If the proposed legislation is adopted by the County Board, I will sign said legislation in accordance with my court-ordered obligations,” Astorino wrote.

The bill relates to the 2009 settlement of a desegregation lawsuit against Westchester. One of the terms of the settlement was that the county executive promote legislation against “source of income” discrimination — for example, when a landlord refuses a tenant because the tenant plans to use federal vouchers to pay the rent.

Federal officials have said such refusals often serve as covers for racial discrimination.

When Astorino vetoed the bill, he claimed the duty to promote it applied only to the previous county executive, who had agreed to the settlement. He also called it a federal intrusion on private property.

When he lost a long court battle, he asked the Legislature to re-introduce the bill. But the Department of Justice said Astorino had to go further. It demanded that he submit the legislation himself and agree in writing to sign it or face possible contempt-of-court charges.

Ned McCormack, a spokesman for Astorino, said Astorino believes he was already in compliance and “today’s letter goes even further to show unambiguously that we’re complying.”

Justice Department spokeswoman Ellen Davis said the department would have no comment.

It’s not clear that the bill will pass the Legislature and it’s not known how the federal government will react if it fails.

It’s also not known whether Astorino’s actions Wednesday affect another deadline, also related to the housing settlement.

The Department of Housing and Urban Development has demanded the county provide by Thursday an acceptable analysis of exclusionary zoning practices in Westchester.

Elliman Releases LI Report for the First Qtr. | Bedford NY Homes

  • The number of listings fell 24.8% to 15,303 from the same period a year ago,
  • the lowest first quarter total in a decade.

  • Median sales price fell 2.6% to $341,000 as average sales price increased
  • 4.8% to $435,082 from the same period last year.

  • Contracts signed in the first quarter increased 12.2% to 5,152 from the prior year total, representative of the release of pent-up demand. The number of sales edged
  • 2.9% to 3,905 from the prior year quarter.

  • Days on market, the number of days from the original list date to the contract date,
  • was 2 days faster, falling to 135 days from the prior year period.

  • Listing discount, the percent difference between the original list price and the sales price, declined to 6.7% from 7.8% over the same period.