Westchester County NY Real Estate Blog

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It's a great time to buy real estate! The combination of  price decline , low mortgage rates and rising rents have made owning more affordable than renting in a growing number of markets.  This may be the start of the real estate market turing and presents a window of opportunity for buyers on the fence.   

Graph source WSJ.  

Existing-home sales increased 5% in December from a month earlier, to a seasonally adjusted annual rate of 4.61 million units, the National Association of Realtors said Friday. Lawrence Yun, the Realtors' chief economist, called the December gain "a good finish to a very tough year."

Click on the graph above to see the full WSJ article. 

Not all real estate practitioners are REALTORS®. The term REALTOR® is a registered trademark that identifies a real estate professional who is a member of the NATIONAL ASSOCIATION of REALTORS® and subscribes to its strict Code of Ethics. Here's why it pays to work with a REALTOR®.

1. Navigate a complicated process. Buying or selling a home usually requires disclosure forms, inspection reports, mortgage documents, insurance policies, deeds, and multipage settlement statements. A knowledgeable expert will help you prepare the best deal, and avoid delays or costly mistakes.
2. Information and opinions. REALTORS® can provide local community information on utilities, zoning, schools, and more. They’ll also be able to provide objective information about each property. A professional will be able to help you answer these two important questions: Will the property provide the environment I want for a home or investment? Second, will the property have resale value when I am ready to sell?
3. Help finding the best property out there. Sometimes the property you are seeking is available but not actively advertised in the market, and it will take some investigation by your REALTOR® to find all available properties.
4. Negotiating skills. There are many negotiating factors, including but not limited to price, financing, terms, date of possession, and inclusion or exclusion of repairs, furnishings, or equipment. In addition, the purchase agreement should provide a period of time for you to complete appropriate inspections and investigations of the property before you are bound to complete the purchase. Your agent can advise you as to which investigations and inspections are recommended or required.
5. Property marketing power. Real estate doesn’t sell due to advertising alone. In fact, a large share of real estate sales comes as the result of a practitioner’s contacts through previous clients, referrals, friends, and family. When a property is marketed with the help of a REALTOR®, you do not have to allow strangers into your home. Your REALTOR® will generally prescreen and accompany qualified prospects through your property.
6. Someone who speaks the language. If you don’t know a CMA from a PUD, you can understand why it’s important to work with a professional who is immersed in the industry and knows the real estate language.
7. Experience. Most people buy and sell only a few homes in a lifetime, usually with quite a few years in between each purchase. Even if you have done it before, laws and regulations change. REALTORS®, on the other hand, handle hundreds of real estate transactions over the course of their career. Having an expert on your side is critical.
8.  Objective voice. A home often symbolizes family, rest, and security — it’s not just four walls and a roof. Because of this, homebuying and selling can be an emotional undertaking. And for most people, a home is the biggest purchase they’ll every make. Having a concerned, but objective, third party helps you stay focused on both the emotional and financial issues most important to you.

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As a real estate, I’m constantly asked this question.  My answer is always the same. If it’s priced right it sells.  This market is all about price! In this current real estate market, if you’re serious about selling, you have to be priced competitively and offer value in your particular market category.   The end result for sellers that do not price to the current real estate market is to follow the market all the way down and always being just behind the selling price range.  If  you’re a property owner and truly want to sell, ask you listing agent to do a very thorough market analysis and what it will take to be the first one or two properties shown in that market niche.   

• The primary reason for purchasing a home was the desire to own a home—more than one-quarter of home buyers cited this reason in 2011; while this remains the most cited reason among all types of buyers, it has decreased in prominence from 2010.
• The primary reason to purchase a home among repeat buyers is often because of life changes: the desire for a larger home, a job-relocation or move, desire to be closer to family and friends, or a change in a family situation. Among ages of home buyers there are also shifts from the younger ages where buyers want to own a home of their own, to older ages where a change is taking place so they need to upgrade, downgrade or perhaps move cities for a job-related relocation.
• The primary reason for the timing of the home purchase remains that it was just the right time to buy and the buyer felt ready to buy a home. Affordability is the second most common reason among all buyers; however, affordability has decreased in prominence in both repeat and first-time buyers. Affordability as a reason for the timing of the home purchase also changed based on age. Younger buyers placed a higher priority on affordability, while older buyers were more likely to purchase a home because they had to make the purchase when they did.

  Click on the chart below for larger view.

Image: renjith krishnan / FreeDigitalPhotos.net

We are pleased to present the Houlihan Lawrence 4th Quarter 2011 Market Report (click Here), a comprehensive overview of residential market activity in Westchester, Putnam and Dutchess Counties.  With detailed yet user-friendly market data and insights, the 2011 Market Report solidifies our reputation as the foremost source for proprietary information and market intelligence.

The Market Report is designed to help educate homeowners and buyers about market activity in the communities they live in, or are considering for purchase.  

If you're interested in receiving the Houlihan Lawrence Market Report every quarter or any of our other Buyer or Sell Reports contact me Antoinette DeRose via my  Email: aderose@houlihanlawrence.com or Cell: (914) 263-8971. 

 By: Lisa Kaplan Gordon  Published: December 15, 2011

Just because your garden is dormant for the winter doesn’t mean you should snooze, too. Experienced gardeners do their dreaming — and planning — when the snow flies. So while you’re thinking of blossoms and butterflies, be sure to add trees and shrubs that look great even in snow.

It’s all about structure

Three-season landscapes concentrate on blooms and foliage, but winter gardens need structure to provide visual interest.

When you choose plants and trees in spring, consider varieties that provide a pop of color in winter — shrubs that set berries, and trees that reveal interesting bark when the leaves are gone.

“The bark on crape myrtle looks like statuary,” says Caldwell, “and the way the weeping form of Japanese maple holds snow is beautiful.”

Not only do ornamental trees look great, but for a $50 to $100 investment, they’ll add to the value of your property.

Berry bushes also attract birds, which give your yard flashes of color and movement. Ornamental grasses, with tall, slender stalks that sway in the wind, put on a winter ballet. (Note: You can leave them all winter, then cut them down in the spring to promote new growth.)

Plant these for winter wonder

Here are some popular varieties that provide a winter show. (Make sure you check the plant’s Cold Hardiness Zone before buying.)

Ilex (holly): Shiny green leaves and berries that change color with the temperature make Ilex a winter favorite. Plant male and female shrubs together to produce lots of berries. Some popular varieties are Winter Gold, which sets cluster of yellow berries in fall, and Jersey Delight, which sports bright red berries. (Zones 4-8)
Cornus (dogwood): Branches of some dogwood species have wonderful colors that dazzle in winter. The Red Twig dogwood is a compact shrub that sports dark red stems in winter; the Yellow Twig dogwood shows off bright yellow stems. (Zones 3-7)
Camellia japonica: This shrub maintains dark green leaves year-round, but some species delight home owners in winter with a profusion of blossoms. The Alba Plena variety has white winter blossoms, while the Bob Hope sports magenta blossoms with yellow stamens. (Zones 8-10)
Hamamelis (witch hazel): A wide range of blossoms appear on bare twigs throughout winter, making this plant a dazzling sight in hedges. A lovely fragrance makes witch hazel a good shrub to plant near doorways. (Zones 5-9)
Miscanthus: White plumes of this 5-foot ornamental grass sway in the wind throughout winter, peeking above snow blankets and giving your landscaping varied height and visual interest. (Zones 6-9)
Helleborus: This compact plant delivers blossoms above green, lance-shaped leaves from January to March in many regions. Some popular winter varieties include: Winter's Bliss Lenten Rose (cream), Mardi Gras Bicolor Mix Lenten Rose (shades of pink), and Pine Knot Select Strain Lenten Rose (purple and lavender). (Zones 4-9)
Last-minute color

If you didn’t think about winter color when you planted in spring, here’s how you can add some 11th-hour pop to your winter landscape.

In beds and containers, plant hearty ornamental heirloom vegetables, such as varieties of Swiss chard, kale, and cabbage
Hang bird feeders to attract wild birds that stay around throughout winter. Birds are always searching for water during cold months, so add a heater to bird baths, too.

Visit houselogic.com for more articles like this.

© Copyright 2012 NATIONAL ASSOCIATION OF REALTORS®

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Some homes just stand out, drawing the attention of passers-by and making people stop to take a second look. These homes are said to have “curb appeal.” A distinctive doorway, an attractively landscaped entry, a colorful garden viewed through a set of brightly painted French doors, an inviting walkway with a handmade bench—curb appeal is whatever gives a home a unique sense of style. Having curb appeal helps to sell a home; not having curb appeal can result in a slow sale or no sale.

What are the common problems that can give a home curb appeal? Most homes need to look larger. Providing continuity from the curb through to the back yard expands the visual space of a small to medium size house. Providing harmony and bringing the outside in makes for a more pleasant experience overall. One of the least expensive solutions is to add background color with seasonal ground covers and plantings. Other quick, easy solutions include:

Painting the front door with an inviting accent color
Changing or upgrading the front porch light fixture(s)
Placing an appropriately styled bench, seat or other three-dimensional piece on the porch, verandah or in the front yard or garden
Keeping all walkways and entrances swept and hosed off
Providing potted plants on the front porch in keeping with the exterior style (don’t mix cactus or succulents in Mexican clay pots with a Cape Cod or French Chateau look)
Adding a clean, stylish new entrance mat
Upgrading the front door hardware, including the door handle, knocker, hinges and/or kick plate
This sets the stage and creates a pleasant feeling of anticipation by the time the front door is reached.

Indoors, the strategy should be to make rooms look lighter, brighter and more spacious, while judiciously editing and accessorizing to make each room more pleasing to the eye and senses. This can be done by:

Cleaning out closets and clutter
Painting walls and trim
Replacing carpeting to overcome pet stains/smells
Staging an empty house with rented furniture and potted plants
Adding inviting sensory aromas with potpourri or a stovetop diffuser
Remember: The lighter, brighter and more harmonious the interior of a house can look the better.

It’s also important that the feeling of the front yard and interior of the house should flow outside into the backyard and patio areas. Patio furniture and containers can be harmonized with the colors and styles used in other areas of the home.  These outdoor rooms should be as aesthetically pleasing as the entrance and interior spaces, allowing the prospective buyer to leave the property with a good feeling about the entire house.

If a buyer can’t picture themselves or their belongings in a house they won’t buy it. Designers can help with:

Matching exterior details to interior details to will give a home “flow”
Helping the buyer visualize himself/herself in the new home Re-working and re-designing using the sellers own furniture and accessories to create a more appealing look

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