November Report 2010
The Angel Team
Westchester
Watching
! ! ! ! !
How is Your Town Doing? November End-of-Month Stats for Lower Westchester
With November coming to an end and one month to go in 2010, we are keeping a close watch on the housing inventory in lower Westchester. With many sellers talking about “waiting till the spring” to put their houses on the market, it is important to see where your municipality stands and what the competition is like. Below you will find the total current active single family properties in each municipality, as well as properties in contract, pending for sale, and properties that closed in the month of November: Eastchester
Greenburgh
Harrison
Mamaroneck
Mt. Pleasant
A
116
A
412
A
CC
17
CC
56
P
12
P
S
6
S
Mount Vernon
158
A
92
A
168
A
123
CC
7
CC
15
CC
27
CC
27
25
P
12
P
22
P
9
P
5
30
S
5
S
11
S
20
S
4
New Castle
New Rochelle
North Castle
A
140
A
206
A
116
A
53
A
61
A
137
CC
6
CC
36
CC
6
CC
17
CC
8
CC
15
P
9
P
11
P
6
P
1
P
18
P
15
S
8
S
21
S
5
S
7
S
1
S
9
Scarsdale
White Plains
Yonkers
A
87
A
112
A
326
CC
10
CC
22
CC
50
P
18
P
13
P
22
S
7
S
3
S
33
Pelham
Rye City
Rye Town
A = Active CC = Conditional Contract P = Pending S = Sold (in Nov. ’10) (Single Family Homes Only) All information provided by 2010 Empire Access MLS Inc. Data believed accurate but not warranted. All data subject to verification.
Curious about your home’s worth? The Angel Team will be happy to provide you with a FREE comparative market analysis and tips that will help you net the biggest return possible. Thinking about buying? The Angel Team will listen carefully to your needs and help you define what towns, neighborhoods and homes will best fit your criteria. We are also able to provide you with Mortgage Broker referrals that can assist you with all of your financing questions and needs. Contact us today!
Property of the Month
Spotlight on: New Rochelle Current Market Stats
Single Family Actives: 206 In Contract: 36 Pending: 11 Solds(Nov.): 21 Solds(6mos): 137
Condos Actives: 57 In Contract: 10 Pending: 4 Solds(Nov.): 4 Solds(6mos): 24
Co-‐ops Actives: 154 In Contract: 19 Pending: 4 Solds(Oct.): 6 Solds(6mos): 55
The Green Corner Listing courtesy of Gary Leogrande, Keller Williams NY Realty
15 Park Avenue | White Plains, NY 3 BRs/2.5 BTHs $589,000 Fabulous house in a great location! Totally renovated Colonial with wrap-‐around front porch. All new kitchen, baths and windows. New 2-‐zone central air conditioning. Beautiful hardwood floors on first floor. Open floorplan features a cozy fireplace in the living room. High ceilings on first floor and an abundance of windows make this a very bright and airy home. Located within walking distance to Metro North with express service to Manhattan, plus shops, dining and entertainment in downtown White Plains.
$ Best Buy $
Listing courtesy of Carolyn Schoemer, Keller Williams NY Realty
65 S. Manor | White Plains, NY 4 BRs/2.5 BTHs $539,000
Gorgeous half-‐acre property! Well-‐situated 4 bedroom, 2 and a half bath on a private corner lot, located on a cul-‐ de-‐sac. Gorgeous refinished hardwood floors. Flexible floorplan works for multi-‐generational living. Central air, alarm system, closets galore and a 2 car garage. Fabulous sun room. Room for a pool and excellent expansion possibilities. Roof and vinyl siding were done in 2001. Bay windows in dining room, living room and master bedroom. A true gem not to be missed!
“It’s Never Been Easier to Be Green.” -‐ Elizabeth Barker, www.greenandsave.com
With just a little eco-‐savvy, creating a greener home can be a breeze for even the busiest of people. Here, Terra Wellington, author of The Mom’s Guide to Growing Your Family Green, shares seven simple solutions for planet-‐ friendly living. 1. In the daytime, leave the lights off and let the sunshine brighten up your home. Because they bounce light around the room, hanging mirrors can help liven up darker spaces without lightbulbs, notes Wellington. And for nighttime lighting, rely on compact fluorescent bulbs, or CFLs, which are known to use about 75 percent less energy than conventional lightbulbs and last up to 10 times longer. 2. Skip disposable batteries and choose the rechargeable variety to power up toys, remote controls, flashlights and other electronics. 3. Curb your energy consumption by plugging TVs, DVD players, desktop computers and stereos into a power strip, then leaving the strip switched off when the electronics aren’t in use. 4. When you’re done juicing up your cell phone, digital camera or laptop, unplug the charger to keep it from leeching electricity. 5. Select the cold-‐water cycle as often as possible: water heating accounts for about 90% of energy used while washing clothes. To make your laundry even greener, Wellington recommends line-‐drying your clothes when weather permits. 6. Load up your dishwasher instead of scrubbing pots, pans and plates by hand. You’ll not only save time and protect your fingers from pruning, you’ll also conserve a considerable amount of water. For more savings, shut the dishwasher off after its last rinse and open the door to let your dishes air-‐dry. 7. In the winter, keep your thermostat at 68 degrees while you’re at home and lower the temperature when you leave the house or hit the sack. To stay cozy, seal off any drafts in your windows and flip the switch on your ceiling fan to drive warm air down and heat up the room.
Real Estate in the News
All information provided by the Keeping Current Matters Real Estate Blog & can be found at http://kcmblog.com. Sign up for their daily postings & keep on top of the market!
Why You MUST NOT WAIT to Sell Your House
The best real estate professionals are trying to convince anyone thinking of selling in the near future to correct the price on their home and sell now before the home loses even further value. Some cynical homeowners think the agent is just trying to create fear in order to make a quick sale. Some sellers are waiting until after the holidays. Some sellers are waiting until the ‘spring selling season’. Today, we want to say that your agent is giving you great advice -‐ Sell Now!
We want to prove this is the best thing for you and your family. The most complete data available is usually generated by the local and national real estate associations. We realize that this data is sometimes considered suspect by the consumer (especially the cynics). For that reason, we will make our point without using any industry data generated by these associations. Instead, we will use the government agency Fannie Mae’s November Economics and Mortgage Market Analysis Report. Fannie Mae forecasted median home sales prices for the next eight quarters. Their projections call for prices to fall and to not again reach today’s values
until the 3rd Quarter of 2012 (see graph below). Remember, these are not real estate industry projections. These are government projections.
Bottom Line If you are looking to sell within the next two years, the highest sales price you will be able to attain for your home is its current value. Don’t wait. Take the advice of your agent and price it to sell today as the house will not increase in value in the short term.
Where Are Interest Rates Really Headed?
Almost every mortgage expert predicted that interest rates would skyrocket earlier this year as the Fed backed out of purchasing mortgage-‐ backed-‐securities. They were wrong and most have refrained from making any new projections ever since. Last week, our own friend and adviser, Dean Hartman, said they may go lower. This month, Market Watch reported on the Mortgage Brokers’ Association’s (MBA) projections: Mortgage rates may be as low as they’ll get -‐ rates are on course to rise, slowly moving towards 5% by the end of next year, according to the Mortgage Bankers Association’s economic forecast.
Bottom Line
It seems that the MBA is in line with the projections of the National Association of Realtors who also believes that rates will increase over the next several quarters. Here are the comparative projections on the chart to the right:
If you are thinking about buying a home but are waiting for prices to soften further, be careful that the ‘cost’ of the house isn’t heading upward because of interest rates. BUYERS, now is YOUR time.
Guess the sale price!
This is a contest to see who can guess what this home will sell for! Located in the quiet Rosedale neighborhood, this 3 bedroom, 2 bath Ranch in White Plains is a great buy! The exterior has new vinyl siding and sits on a large, level lot. The backyard features a patio and barbecue pit. The interior has hardwood floors throughout, a stone fireplace and a huge finished walkout basement. The hot water heater was replaced in 2009 and the basement has been professionally waterproofed.
Listing courtesy of Gary Leogrande, Keller Williams NY Realty
Email Gerry at gerryangel@kw.com with your guess. The person who comes closest will win a $5 Starbucks Gift Card!
Eye on Luxury...
Behind an elegant gated entry awaits your private oasis! Currently listed at $2,694,888, this exquisite home offers nothing but serenity. The stunning residence boasts unique details throughout-‐ gracious, sunken family room with vaulted ceilings, dramatic stone fireplace, state-‐of-‐the-‐art renovated eat-‐in kitchen with spacious center island, and two private guest en suites. The lower level features a rec room with fireplace, handcrafted wet bar, gym and wine cellar. French doors out to a flagstone patio with in-‐ ground pool and cabana. The outdoor spaces provide peace and tranquility in your very own Zen courtyard. As a GREEN realtor, I prefer to send things digitally whenever possible. If you would like to receive this newsletter via email, please contact me at gerryangel@kw.com. Please feel free to pass this Newsletter along to anyone you think would be interested. Better yet, have them ask me to be added to the list and have them mention your name and I will send you a $5.00 Starbucks gift card. If you do not wish to receive this report, please reply with “Unsubscribe” in the subject line. If you are interested in seeing any of the properties mentioned in this Newsletter, or if you know anyone looking to buy or sell real estate, please call me. I offer a complimentary consultation to Buyers and Sellers. I cover all of Westchester County and parts of Southern Putnam. Please note: according to new regulations of the Westchester County Board of Realtors, brokers and agents are not permitted to mention actual addresses of sold or listed properties in their promotional activities unless it is listed by their office. I can, however, provide you with complete information if you request it.
Listing courtesy of Christine Ricci, Keller Williams NY Realty
The Angel Team
Geraldine Angel, Associate Broker Keller Williams NY Realty 120 Bloomingdale Road Suite 101 White Plains, New York 10605 O: 914.437.6141 C: 914.263.7168 F: 914.437.6199 gerryangel@kw.com gerryyourrealestateangel.com