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Chappaqua NY Weekly Real Estate Report | RobReportBlog
Chappaqua NY Weekly Real Estate Report
Homes for sale 92
Median Ask Price $1,182,500.00
Low Price $429,000.00
High Price $4,750,000.00
Average Size 4270
Average Price/foot $366.00
Average DOM 132
Average Ask Price $1,773,956.00
via trulia.com
Buyers need the right ‘parenting style’ for agents | Chappaqua NY Real Estate
Recently, I had a conversation with a first-time buyer, who was trying to think through precisely how to articulate her house-hunt wish list to her agent in a way that was clear on her wants vs. needs. During the course of our talk, I found myself briefing her on an agent’s wants and needs.
“Sure, every agent wants and needs to close your sale and earn a commission,” I told her. “But what they really want even more is, when possible, to be your hero.
“Every reputable agent wants you to be thrilled with your place. They want you to love them and to rave about what they did for you to their friends, for years in the future. So, if they can find someplace that scores on all your requirements and as many as possible of your preferences, chances are good that they will.”
The process of getting to that outcome, the outcome of being highly happy with your agent’s work, requires a number of things, but one that comes to mind is the way buyers interact with agents in terms of being demanding vs. nondemanding, and responsive vs. nonresponsive. These are the same factors psychologists look to when trying to understand which styles of parenting are likely to be successful, in terms of producing children that are competent to achieve their own goals in the world.
via inman.com
Relatively few fish die if NY nukes continue, feds say | Chappaqua Homes
CoreLogic: National foreclosure inventory falls 19.5% | Chappaqua NY Real Estate
via housingwire.com
Triple Your Facebook Likes in Two Weeks | Chappaqua NY Realtor
via problogger.net
Condo association can recover for damage caused by guest | Chappaqua NY Real Estate
Q: I own a townhouse that I rent out. The rules of the association make owners responsible for damage that is done by themselves, guests or renters. Our renter had a guest who was involved in a robbery attempt at the complex; he damaged a sign and light pole, but he escaped and the police haven’t been able to find him or the owner of the car he was driving. Now the association is trying to get me to cover the repair costs. Can the association do this? –Alex B.
A: Your association’s rules are common and legal. You are responsible for common-area damage you might cause, and if you invite people to your home, you likewise become responsible for the damage they might cause. The same is true for renters. Because they stand in your shoes, if they cause damage, you are ultimately on the hook.
This doesn’t mean, however, that you cannot attempt to recoup any money you pay the association by looking to the real cause of the damage: your guests, your renters or your renters’ guests. That would require a lawsuit if the responsible party doesn’t pay up. Meanwhile, the association will have been paid by enforcing its rule, and if you don’t comply, it will take whatever actions its rules provide for when members fail to make good on financial obligations.
Sometimes, an insurance policy can cover the costs of these mishaps. If, for example, you accidentally hit a sign while backing out of your driveway, your auto insurance would cover; and the same is true for your renters and their car insurance. Or, if the renters damaged association property by accidental misuse (of a meeting room, for instance), their renters insurance would cover (assuming they had the “liability” part). Even a guest’s accidental damage of association property, in a non-auto situation, might be covered by that guest’s own homeowners or renters policy.
via inman.com
Wall Street bonus woes slam NY housing market | Chappaqua Real Estate
Wall Street’s bonus blues are holding back Big Apple home prices.
While the housing market is on the mend and every other major metro area is on the upswing, New York stands out as the sole city to see an annual price decline, according to Standard & Poor’s Case-Shiller index released yesterday.
Home prices in the New York area were down 1.2 percent in November compared to a year ago — the only decline out of the 20 metro areas tracked by the closely watched index.
By comparison, home prices on average were up 5.1 percent from a year ago nationwide.
David Blitzer, chairman of S&P’s Index Committee, singled out the city’s shrinking financial sector as one reason it is lagging the rest of the country.
“Financial services is not in the best shape, and that has put a damper on the home prices and how people view job growth,” said Blitzer.
In fact, Wall Street bonuses have been shrinking ever since the financial meltdown.
Bonuses paid out this year are expected to decline, after falling 13.5 percent last year for work done in 2011.
“If it’s a good year for bonuses, it’s a good year for people selling real estate,” Blitzer said.
And for at least some of the well-heeled Gucci loafer set, who typically drive real-estate values in the city, bonuses could be off as much as 35 percent, according to Wall Street recruiters.
The office of New York State Comptroller Thomas DiNapoli’ estimates that the Street’s base salaries fell 9.5 percent to $362,000 last year, from $400,000.
Job growth in the Big Apple also has been relatively flat, with just about 500 jobs added in the securities sector over the past year, according to the Independent Budget Office.
That follows several rounds of deep cuts across the securities industry since the financial meltdown.
During the height of the crisis, some 140,000 jobs were lost, IBO data shows.
New York home prices held up far better than those in other major metro areas during the crisis, and the city wasn’t nearly as hard-hit as financially overheated areas like Phoenix and Atlanta, a spokeswoman with Mayor Michael Bloomberg’s office noted.
The index does not factor in co-ops and condos and covers territory including Long Island, Westchester and Northern New Jersey.
Median home prices within the city’s five boroughs stand at $445,000 and $380,000 in the broader New York metro area, while national median is closer to $175,000, according to Moody’s Analytics data.
Pay within the five boroughs on average is $61,0000 and $68,000 in the broader New York area, while the national average is $53,000. according to Moody’s.
New York’s housing market is very sensitive to the metro economy, said Michael Zoller, an economist at Moody’s Analytics.
“If the metro economy isn’t producing high-paying jobs, nobody’s going to be able to pay high real-estate prices,” Zoller aid.
via nypost.com
Home Prices Up 5.5% From a Year Ago | Chappaqua NY Homes
Single-family home prices in the United States slipped in November from a month earlier, but were up 5.5 percent compared with a year ago, according to the S.&P./Case-Shiller housing price index released Tuesday.
The annual increase builds on a string of gains that point to a housing market that is on the mend.
“Housing is clearly recovering,” David Blitzer, chairman of the index committee at S.&P. Dow Jones Indexes, said in a statement.
Prices on a nonadjusted basis slipped 0.1 percent from October. Prices fell in about half of the 20 metropolitan areas covered by the survey, with the winter months typically a weak period for housing.
On a seasonally adjusted basis, the index gained 0.6 percent from October to November, in line with economists’ forecasts.
A separate report releaed on Tuesday said that consumer confidence in the United States had dropped in January to its lowest level in more than a year.
The Conference Board, an industry group, said its index of consumer attitudes fell to 58.6 from an upwardly revised 66.7 in December, falling short of economists’ expectations for 64. It was the lowest level since November 2011.
At the start of the year, Washington came to an agreement that averted spending cuts and tax increases that had been set to come into effect. But the deal did raise taxes for many Americans and a number of budget decisions still remain.
“The increase in the payroll tax has undoubtedly dampened consumers’ spirits, and it may take a while for confidence to rebound and consumers to recover from their initial paycheck shock,” Lynn Franco, director of economic indicators at the Conference Board, said in a statement.
via nytimes.com
Local foreclosure activity dropped in December | Chappaqua Real Estate
There were 265 foreclosure deeds recorded in Massachusetts during December, a 65 percent decrease from the number recorded in the same month a year ago, the Warren Group said Monday.
Foreclosure deeds represent completed foreclosures. The first step in the foreclosure process is a foreclosure petition.
In December, 835 foreclosure petitions were started in Massachusetts, down 17 percent on a year-to-year basis, said the Warren Group, a Boston firm that tracks real estate activity.
For all of 2012, the number of completed foreclosures in Massachusetts dropped by nearly 13 percent to 7,424, the Warren Group said in a press release.
Timothy M. Warren Jr. Photo taken from the Warren Group’s website.But the number of foreclosure petitions started in the Bay State increased by more than 35 percent to 17,152. In 2011, there was a big drop in petitions as lenders slowed the process as their procedures came under scrutiny.
“Foreclosure activity nationwide is declining, and Massachusetts is following the same path,” Warren Group chief executive Timothy M. Warren Jr. said in a statement. “Deeds were down for the year, petitions declined for the past two months, and I think that will continue.”
Timothy Warren added: “Foreclosures have been trending down for several years now. A robust real estate market will ensure that this trend continues in 2013.”
via boston.com