Tag Archives: Chappaqua NY

Chappaqua NY

Americans Have Gotten Much More Optimistic About The State Of The Economy This Year | Chappaqua NY Real Estate

There’s a new WSJ/NBC poll about Obama’s approval, but fortunately buried within it, there are some good questions about how Americans see the economy.

There’s still not massive satisfaction, but clearly since the beginning of the year, there’s been a big improvement in how people feel.

For example, here’s a question on whether people are satisfied with the state of the economy.

Those saying they’re “somewhat” or “very” satisfied with the economy total 36%, up from 27% at the start of the year.

Those registering dissatisfaction are at 64%, down from 72%.

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Other poll questions show a similar story.

There’s been a big drop in the number of people who think the economic outlook will get worse (18% vs. 28% at the end of last year).

 

Americans Have Gotten Much More Optimistic About The State Of The Economy This Year – Business Insider.

Using Your IRA to Buy Investment Properties | Chappaqua Real Estate

Nest eggWith taxes going up for most people, you might be paying more attention to your tax-deferred retirement investing options, such as your Individual Retirement Account (IRA). And with property prices going up, you might ponder whether you can invest those IRA funds in real estate to both defer (or eliminate) taxes and earn a fair rate of return.

Putting your hard-earned IRA assets into a “self-directed” IRA can be a very good idea to grow long-term, tax-deferred or tax-free assets. But it doesn’t work for everyone.

Here are a few things you should consider.

Eligible properties

The real estate you buy must be a business property, not a personal residence, second home or occasional rental. Also, you can’t use your IRA to buy a property you already own; it has to be a new purchase directly into the IRA.

If you wanted to buy a rental property, you would open an IRA custodial account, transfer cash from an existing IRA account — or possibly 401(k) — into the custodial account and then purchase real estate under the IRA account name. Very specific rules outline what you can and cannot do in funding and managing the investment, so make sure to get good advice on those rules.

You can also buy and sell real estate in a self-directed IRA if you are in the flipping business, but there are limits on how many you can do per year. The profits on any transaction would be tax-deferred or tax-free and allow your IRA to continue to grow with those tax advantages.

IRA investing concerns

You can’t get a traditional mortgage loan in an IRA, so you really need to have enough money in your IRA to purchase properties for cash if you plan on having the property as a long-term rental. There are also costs to administering the IRA, so factor those into your calculations when penciling out any real estate investment. And you cannot write off losses or depreciation from any investment property in an IRA, so there won’t be the traditional tax savings you’d get on rental properties. Lastly, if you fail to comply with any of the rules, it may kill your IRA and cause you many tax penalties.

Financial considerations

Don’t put all of your IRA eggs into one basket. Too many people don’t properly diversify their retirement assets — present company included. It would be smart to talk to a financial adviser on how to allocate all your investment savings into different assets, based on your age and risk tolerance.

If you want to use your IRA to buy real estate, you need to understand what you can and can’t do. More key information can be reviewed at udirectIRA, which is a self-directed IRA custodian. And as always you also should get professional guidance from an accountant and lawyer.

 

Using Your IRA to Buy Investment Properties | Zillow Blog.

Refi apps tumble for third week | Chappaqua NY Real Estate

Mortgage applications plummeted once again, falling 8.8% from the week prior, the Mortgage Bankers Association posted.

Refinancing and purchase applications did little to revive the decline suffered last week.

The refinance index tumbled 12%, the largest single week drop in refinance applications this year, from the previous week to the lowest level since December 2012.

For the second week in a row, the seasonally adjusted purchase index dropped 3%, the industry trade group said.

“Refinance applications fell for the third straight week bringing the refinance index to its lowest level since December 2012 as mortgage rates increased to their highest level in a year,” said Mike Fratantoni, MBA’s vice president of research and economics.

He explained, “Rates rose in response to stronger economic data and an increasing chance that the Fed may soon begin to taper their asset purchases.”

Meanwhile, the refinance share of overall mortgage activity inched down to 71% of total applications, compared to 74% the prior week.

The adjustable-rate mortgage share of activity slightly increased to 5% of all mortgage applications.

The average 30-year, fixed-rate mortgage with a conforming loan balance skyrocketed to 3.90%, the highest rate since May 2012, from 3.78%,

 

 

Refi apps tumble for third week | HousingWire.

Give Me Your Opinion — What Should Be My Next Online Video Course? | Chappaqua Realtor

In April 50 people signed up to take one of my online video courses that I offer through Udemy.com. A big thank you to those who have signed up for a course. I have enjoyed putting these together, and the feedback I’m getting is that they are helpful and that people are learning a lot by taking them.

Now I need YOUR feedback on what the next courses should be that I develop.

Currently I have these four courses:

Task Analysis Boot Camp Course Logo

Personas & Scenarios Course Logo

Secrets of Intuitive Design Course Logo

Designing For Engagement

I’m working right now on this course:

Great Presenter

which will be ready in a few weeks.

Now the question is, what’s next?

I have a lot of ideas (in fact I have a whole list of courses in the queue, but I haven’t started them). Give me your opinion. What online video courses are you interested in taking that I should consider developing?

 

Give Me Your Opinion — What Should Be My Next Online Video Course? | Weinschenk Institute, LLC.

How to set PPC Marketing Goals | Chappaqua Realor

What are your PPC marketing goals?

Whether managing PPC marketing yourself or hiring an agency, before you start spending money advertising on search engines, carefully consider what you are trying to achieve.

Of course everyone wants sales but unless you are running an e-commerce site where visitors can buy from you right then and there, you should ask yourself what you expect in return for your PPC marketing investment. Look at how you advertise today, consider what works and what doesn’t and then think about how can you carry a successful sales model into a place where you get to advertise directly to prospects who are already interested in what you are selling.

Let’s review a few basics of Search Engine Pay per Click marketing.

  1. PPC provides any company the opportunity to place ads in front of businesses and individual consumers based upon specific search queries.
  2. It is a pay-to-play bidding platform that rewards companies who are willing to pay more and/or dedicate more time with better ad placement and performance.
  3. Ads positioned at the top of the search results page perform better than ads appearing elsewhere.
  4. When an ad is displayed on the screen for a person who uses a search engine to type a search query, it is called an impression. Impressions are free but in order to get them you must be willing to pay  more than your competitor.
  5. Pay per click… you only pay when someone clicks on your ad.
  6. What you pay is determined by a number of factors including what your competitors are willing to pay, how well your ad is written, how relevant your ad is, how well your landing page performs and how successful your ad is.
  7. As with all web based marketing, you need a good website. The more informative, relevant, compelling and encouraging your website is for your target audience the better your PPC marketing will perform.

What should my PPC marketing goal be?

This question is important because without a goal, you cannot measure whether your PPC marketing investment is working for you. Over the years, I have created thousands of campaigns for customers and although the goals may be similar, they are never exactly the same for each campaign. Every business need is unique. Every marketing goal should be unique your business needs.

Is your goal to increase sales, get more leads or expand your brand?

If you answered yes (don’t worry, everyone does) you are partly right, but you need more specificity. Lofty goals are great, but in the real world success more often comes from setting goals that are realistic, achievable and measurable. Are you capable of running a four minute mile? What about a marathon? Although most people could never run a four minute mile (the unrealistic goal), most people could finish a marathon if they were willing to make the investment in time, resources, dedication and perseverance. The same holds true for PPC marketing. Just like dedicating yourself to running a marathon, dedicate yourself to investing the time it takes to set goals, learn what works for your unique business and adjust your goals as you move ahead.

What are some examples?

What is your goal when advertising? Is it to put your ad in front of people who are in your market and are in need of your services to pick up the phone and call you? What about setting a goal for the number of people you want calling or when you want them to call? Do you put a value on each call? Do you break it down by the type of service they are interested in?

Each business will have their own unique set of PPC goals. Some example search engine PPC goals are:

  1. Track when someone clicks on an ad and completes a lead form.
  2. Keep the cost per conversion from PPC less than $25 each.
  3. PPC should drive 15 new leads per month from my website’s contact form.
  4. PPC should get us 50 call leads per month.
  5. With a small budget, the average cost per click (CPC) cannot exceed $5
  6. My website is not doing well in some organic search results and I want to be sure my business is listed on the first page of Google for those search terms.
  7. Average PPC visitor time on the website is more than the time spent by organic site visitors.
  8. Maintain visibility in search engines along with my key competitors.
  9. Be easily discovered in search engines for a variety of relevant keywords.
  10. Target mobile users only.

 

How to set PPC Marketing Goals | Find and Convert.

Chappaqua Realtor | Responsive Marketing

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In the beginning, there were products and services, and some were good. Fewer became trusted brands, but those that did enjoyed unquestioned loyalty supported by a simple yet effective marketing engines built to reach people in mass quantity. The formula worked for decades. An empire was built on the shoulders of Madison Avenue and expanded globally. It is an empire, which still exists today, though arguably it’s a diminished version of its former self.

More recently, technology has had it’s own evolutionary process which it’s still going through. Well over a decade ago, when large organizations developed and updated their complex Web properties, the most popular and rigorous process one could follow in development was referred to as “Waterfall”.  Think of this as a descending, linear staircase where one step of the process was completed in full before moving on the next. The methodology was rigorous, but also left little room for tweaking, testing, adapting and improving along the way.

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Responsive Design
Today, digital design and development is often done leveraging the “agile” method of development, which favors smaller, cyclical bursts of development and rapid testing. Start-ups favor this approach as well building not only their tech products but also their business models in a way, which resembles more of an agile philosophy vs. a rigid, sequential approach. Even “large” start-ups like Facebook demonstrate this in how they roll out enhancements to their global platform, often making the changes incrementally, rolling them out with select users and then adjusting based off the data they analyze. Google often works this was as well. If you were to undertake designing and building a digital property today—you would also have to ensure that it would perform across multiple platforms (desktop, tablet, mobile). A popular methodology for developing this way is called “responsive design”—a technique, which leverages code that results in a shape shifting design which auto-magically fits the medium it, is being interacted with in.

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Most Marketing Remains Linear And Unresponsive
Despite the pervasive nature of all manifestations of digital, including social and mobile, much of the marketing emphasis remains dedicated to reaching people in mass, following a tried and true formula for advertising designed to build off consumer insights and craft compelling messages which could be distributed across a myriad of channels (including digital). The approach is designed for the broadcast industrial machine including print, radio and television, which, despite rumors of its demise is likely to stay with us for some time. The problem it poses however is that it is an approach that much like its counterpart in tech development, (Waterfall) is neither nimble nor flexible and isn’t built for rapid change nor does it adapt well beyond the dominant media it was designed for.

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“Content Marketing” Is Disrupting Modern Day Brand Building
CMOs, chief digital officers and brand managers across many organizations are currently grappling with the notion of content used in the context of marketing—inherently they understand that their customers value content, consume it, create it, and share it—and they want in on the action. They also understand that this type of content isn’t often the traditional campaigns they execute for broadcast so they face a dilemma:

What content do consumers value most?

How do they find it?

What gets individuals sharing content with peers?

How does content scale, reaching the right audience at the right time?

How do brands insert themselves into the content ecosystem in ways that bring value back to the brand?

Screen Shot 2013-05-18 at 3.25.25 PM

Responsive Marketing
The solution to the content question lies somewhere between acknowledging that a brand must support both a traditional, linear marketing model in addition to a newer, cyclical construct which is constantly in tune with the current environment and operates in consolidated time frames. Responsive marketing sits at the core of the content evolution that many companies find themselves trying to navigate as they pull together newsrooms,command centers and media operations which are designed to help brands act more like publishers. All of these can be effective in treating the symptoms a brand may exhibit if they possess only competencies in linear forms of marketing, but they do not address the root issue—deconstructing a marketing machine which places the majority of resources on mass marketing will ensure it never gains proficiency in alternate forms of content and media.

A more holistic approach is needed.

 

Logic+Emotion: Responsive Marketing.

Seller financing: an untapped resource for real estate agents | Chappaqua Real Estate

While the residential real estate market is generally believed to be improving nationwide, some of the residual effects of the Great Recession still affect the ability of real estate agents to facilitate home sales.

Emerging employment opportunities in many parts of the country are bringing workers into new communities. Even though financial institutions have brought reserve levels back to all-time highs within the past few years, banks are unable to fund loans due to restrictive lending criteria.

For buyers, the regulatory pendulum has swung too far. Though fully capable of making payments, many are marked with imperfect credit or low cash reserves as a result of short sales, foreclosures or plummeting values of their prior residences. For sellers, this means a significantly smaller pool of potential buyers, which negatively impacts their home values as well as their financial well-being.

Prime opportunity

According to the Pew Research Center, about 10,000 people will turn 65 every day for the next 17 years. With baby boomers entering retirement at an exponential rate, many are looking to their homes as an additional source of revenue to supplement Social Security or other insufficient income.

Today’s rising home values present a perfect opportunity for sellers to capitalize on their homes’ increasing market values, and savvy real estate agents recognize the prime opportunity that seller financing presents. The trend of tight lending standards combined with willing buyers, sellers and an appreciating housing market is certainly not permanent, so this nontraditional financing option must be quickly leveraged to yield maximum benefit.

– See more at: http://www.inman.com/2013/05/22/seller-financing-an-untapped-resource-for-real-estate-agents/#sthash.glExI8Fd.dpuf

 

Seller financing: an untapped resource for real estate agents | Inman News.

Ratio of Sold to List Prices Shows Inventory Shortages Driving Price Hikes | Chappaqua NY Real Estate

The Sold-to-List Price Ratio, one of the leading market indicators for predicting home prices, is helping analysts predict home prices in markets with varying economic condition, shortages of available housing inventory and its impact on home prices. Pro Teck Valuation Services’ May Home Value Forecast (HVF) Update analyzes the Honolulu, Tucson, San Francisco, and Chicago metro areas to determine how the indicator has been useful from a historical perspective and in current market conditions.

“While many were predicting that REO and the ‘shadow inventory’ would keep real estate markets depressed, in reality the shortage of housing inventory has lead buyers to bid more competitively against one another leading to significant home price increases and tighter housing conditions,” said Tom O’Grady, CEO of Pro Teck Valuation Services. “Aside from anecdotal stories, Home Value Forecast shows that one of the most reliable leading indicators to support this theory is the Sold-To- List Price ratio.”

In May’s Home Value Forecast Update, the authors examine how the ratio of the sold price to the listing price (Sold-to-List Price Ratio) typically fluctuates between 92 percent and 98 percent, but in very hot markets can exceed 100 percent. The update takes a historical look (1978 to 2011) at the Honolulu metro Sold-to-List Price Ratio and the annual percent change in the median condominium sold price.

“The Sold-to-Listed Price Ratio has historically lead home prices by approximately six months over the past three real estate cycles and its turning points have been excellent signals for the same in condo prices,” added O’Grady.

In addition, the authors highlight quarterly value back to 1994 for the Tucson, AZ single family market and determine that the Sold-to-List Price Ratio exceeded 100 percent during the bubble period in 2006, which was indicative of a very frenzied market. The authors also demonstrate that the indicator moves directly with the market itself and can be a useful tool for determining if a market is “hot” as in San Francisco or in “normal” conditions as in Chicago, where the market could transition to heated conditions in the coming year.

This month’s Home Value Forecast update also includes a listing of the 10 best and 10 worst performing metros as ranked by its market condition ranking model. The rankings are run for the single family home markets in the top 200 CBSAs on a monthly basis to highlight the best and worst metros with regard to a number of leading real estate market indicators, including: sales/listing activity and prices, months of remaining inventory (MRI), days on market (DOM), sold-to-list price ratio and foreclosure and REO activity.

“Two of the top markets this month are in Nevada (Las Vegas-Paradise and Reno-Sparks), both of which had been very distressed since their respective market peaks in 2005 and 2006. Also, California continues to be well represented on the list by Los Angeles, Oakland, and Sacramento metros,” said Michael Sklarz, Principal of Collateral Analytics and contributing author to Home Value Forecast. “Nashville’s metro area is a new entrant this month. Although the market has a more shallow correction than many of the other markets in the recent recession, it appears to be experiencing improving overall economic conditions and one of the most affordable markets in the U.S. now.”

May’s top CBSAs include:

Nashville-Davidson-Murfreesboro-Franklin, TN

Sacramento-Arden-Arcade-Roseville, CA

Oakland-Fremont-Hayward, CA

Reno-Sparks, NV

Minneapolis-St. Paul-Bloomington, MN-WI

Las Vegas-Paradise, NV

Warren-Troy-Farmington Hills, MI

Salt Lake City, UT

Los Angeles-Long Beach-Glendale, CA

Dallas-Plano-Irving, TX

“The bottom ranked metros also represent an interesting mix around the U.S. While all have nine to thirteen Months of Remaining Inventory, many of the indicators are showing positive trends even for the bottom metros area this month,” added Sklarz.

The bottom CBSAs for May were:

El Paso, TX

Shreveport-Bossier City, LA

Akron, OH

Spokane, WA

Chattanooga, TN-GA

Dayton, OH

Peoria, IL

Baltimore-Towson, MD

Little Rock-North Little Rock-Conway, AR Rochester, NY

Clarksville, TN-KY

About HomeValueForecast.com

 

 

Ratio of Sold to List Prices Shows Inventory Shortages Driving Price Hikes | RealEstateEconomyWatch.com.

Astorino: Update On Affordable Housing In Westchester | Chappaqua Real Estate

In 2009, my predecessor, Andrew Spano and the Board of Legislators signed a legal settlement obligating the county to spend $51.6 million to develop 750 units of fair and affordable housing in 31 so-called eligible or mostly white communities by the end of 2016.

Here’s an update on the status.  Let’s start with the bad news.

The U.S. Department of Housing and Urban Development (HUD) is trying to use the settlement to dismantle local zoning laws.  HUD has the misguided view that zoning and discrimination is the same thing.

It is not. Zoning restricts how land is used, not who lives there. The impediment to where people live in Westchester is money, not race or ethnicity.

Washington bureaucrats, who you will never see or meet, want the power to determine who will live where and how each neighborhood will look.  What’s at stake is the fundamental right of our cities, towns, and villages to plan and zone for themselves.  This home rule is guaranteed by the New York State Constitution.

HUD wants no restrictions – in any neighborhood – on height, size, acreage, density, or number of bedrooms. HUD even sees sewers as a problem, which is critically significant since Westchester zoning protects the drinking water of 8 million New Yorkers.

If there are no restrictions for HUD, there will be no restrictions for any developer. A high rise can be built on any street, even right next door to you. And if HUD can trample on zoning here, it can do it anywhere.

I urge you to read the HUD letters for yourself and see how the federal government is trying to abolish even basic zoning protections.

Now here’s the good news.

The county is ahead of schedule in fulfilling its obligation in the settlement. Our current benchmark is to have 300 units with financing in place by the end of 2013. The county exceeded the mark in December and currently has 309 units in place with financing, of which 117 are already occupied. Over 91 percent of the required 750 units are already in the pipeline.

Ask yourself this: If the county is ahead of schedule in building affordable housing in these communities, how can their zoning be exclusionary?

One of Westchester’s greatest strengths is its diversity. It is the fourth most-diverse county in the state — tied with Manhattan — in terms of African-Americans and Hispanics.

I pledge to defend with every tool at my disposal the right of people to live anywhere in Westchester in any home they can afford.  There is absolutely no place for discrimination in our county. But we won’t be bullied or threatened by HUD to do things that are not in the settlement.

 

Astorino: Update On Affordable Housing In Westchester | The Bedford Daily Voice.

15 Digital Media Resources You May Have Missed | Chappaqua Real Estate

It has been another busy week as summer approaches, and everyone gets restless for the warm weather. If you’ve been too preoccupied soaking up some rays to check out the news, don’t worry — we’ve got you covered.

We at Mashable have rounded up the most important updates in tech and social media to keep you informed. So read below for tons of digital media resources, including everything you need to know about the Google I/O keynote and a great roundup of apps to help you get around your city.

 

 

15 Digital Media Resources You May Have Missed.