One Man's Garbage Is Another Man's Income

New York City is a place where you can witness so many interesting people doing what makes them interesting.  One of my apartment windows faces the street so I get a front row seat to all of the action.  Every Sunday afternoon the buildings put out garbage, recycling, and once a week, bulk items.  On a regular basis we have a crew of guys that pull up with a van and sift through all of the recycling for any cans or bottles.  Quite often they sit in front of the buildings service entrance for an hour waiting for the goods.  It reminds me of my days waiting in line for concert tickets to go on sale, minus the income potential.  

When the recycling comes out they put gloves on and get to work.  It's pretty cool to watch the system they have in place, very organized.  On the other side of the street we have a woman that waits quietly, reading a book until the recycling is brought out.  Once it arrives, the book is put away and she springs into action.  

Scrap metal is a big income producer for many as well.  We have a gentleman that drives around and picks up anything from bed frames to frying pans.  Furniture doesn't last more then a few hours on the street either.  The porter for my building called a friend of his who quickly arrived in a van ready to take away a couch, desk, and pair of lamps.  I'm not sure if he sells the furniture or plans to use it in his home.  Either way, I have a lot of respect for these people as they have created a way to provide for themselves and their families.  Of course, this is all first come first serve but it's almost like they have claimed a territory and others respect that.  

So next time you put something on the curb that may produce income, consider the above and maybe your trash will put money in the pocket of someone that really needs it.  Have a great day!

Christopher Pagli - www.WestchesterCountyRealEstateMarket.com
Accredited Buyer Representative
Licensed Associate Broker
William Raveis Legends Realty Group

914.406.9023 - cell

chris@LegendsRealtyGroup.net

mrwestchester.blogspot.com

Rye NY Blossoms In The Spring Real Estate Market - July/August 2014 Report

Rye is one of my favorite towns in Westchester, not because I grew up in neighboring Rye Brook and lived here for 4 years, but because it has so many beautiful homes and nature outlets.  Whether its hiking, the beach, or shopping, Rye has it all.  The Rye real estate market has always been hot and nothing has changed this spring.

The Rye single family home sector saw 26 closings which is down a bit from 37 the same time last year.  On a year-over-year basis sales have been rising for 4 months.  The sales/list price ratio in July decreased from 97.8% to 98.9% in June.  The median price in July was $2,390,000, up 36.6% from $1,750,000 in July 2013, which is quite normal for Rye considering a large amount of the homes are above 1 million in value.  Inventory levels were down to 111 compared to 130 in July 2013.  This has been a common issue in many Westchester County towns but tight inventory means possible multiple bids!  The average days on market of 88 days was down from 105 last year, cash deals are very common in the area so days on market will be much lower.

The Rye condo market isn't one that sees a ton of activity as there aren't too many condos in Rye to begin with.  there was only 1 unit sale in July compared to 3 in July 2013.  The sales/list price ratio was down 95.8% but down worry, 1 sale isn't a good gauge of how the condo market is doing.  It simply means there weren't any other horses in the race.  Inventory levels were 5 which remain the same as June and last July.  The days on market for this sale were 50, keeping up with the quick sales of the single family sector.

The Rye coop market saw 2 sales in July which is down from 5 in July 2013.  The sales/list price ratio inched up to 98.4% from 94.2% in June.  The median price was $570,125 which is down from $650,000 in July 2013.  Rye has a decent amount of coops sprinkled on the outskirts of town and the inventory level is 20, the same as last month.  The average days on market of 74 in July was down substantially from 200 in June and also 170 in July 2013.  This is the lowest days on market has been since January.

If you have any questions or want to chat about the area please don't hesitate to contact me directly.  My next report will be in September, see you then!

Christopher Pagli - www.WestchesterCountyRealEstateMarket.com
Accredited Buyer Representative
Licensed Associate Broker
William Raveis Legends Realty Group

914.406.9023 - cell

chris@LegendsRealtyGroup.net

mrwestchester.blogspot.com

It's Time To Pick Apples In Westchester County, Dutchess, County, and Rockland!

Apple picking season is once again upon us! Here is my annual list of apple orchards in Westchester, Putnam, and Dutchess County.  Many of these orchards have other things to do such as hay rides, mazes, petting zoos, and farm stands.  It's always wise to call ahead, not only for a list of daily activities but for apple availability.  The weather plays a big part in what will or will not be available.  I remember last year we saw a few days of early frost and that had a big impact on the apple growing season.  These farms rely on the public purchasing their produce in order to survive.  If the season is negatively affected due to bad weather it means they will have less to sell.  I always try to give a little extra money for whatever I'm purchasing.  After all, buying directly from the farm is a great way to ensure you are getting the freshest produce.  Enjoy the season and as always, have fun!

I'm going to go apple picking in Maine this year so maybe I'll compile a list for all those adventurous types out there!

Westchester County Apple Picking Orchards1) Harvest Moon Farm and Orchard - 130 Hardscrabble Rd, North Salem, NY - 914.485.1210
2) Stuart's Farm - 62 Granite Springs Rd, Granite Springs, NY - 914.245.2784
3) Wilkens Fruit & Fir Farm - 1335 White Hill Rd, Yorktown Heights, NY - 914.245.5111

Rockland County Apple Picking Orchards1) Dr. Davies Farm - 306 Rte 302, Congers, NY - 845.268.7020
2) The Orchards of Concklin - Rte 45 & South Mountain Rd Pomona, NY - 845.354.0369

Dutchess County Apple Picking Orchards
1) Barton Orchards - 63 Apple Tree Lane, Poughquag, NY - 845.227.2306
2) Cedar Heights Orchard - 7 Crosby Lane, Rhinebeck NY - 845.876.3231
3) Fishkill Farms - 9 Fishkill Farms Road, Fishkill NY -845.897.4377
4) Fraleigh's Rose Hill Farm - 19 Rose Hill Farm Rd (off Rte 9), Red Hook NY - 845.758.4215
5) Greig Farm - 223 Pitcher Lane, Red Hook NY - 845.758.1234
6) Mead Orchards - 15 Scism Rd (off Rte 9), Tivoli NY - 845.756.5641
7) Meadowbrook Farms - 29 Old Myers Corners Rd, Wappingers Falls NY - 845.297.3002
8) Terhune Orchards - 761 North Ave, Salt Point NY - 845.266.5382

Pumpking Picking is coming up soon so keep an eye out for that list as well. As always, have fun and bake pie!!!!

Christopher Pagli - www.WestchesterCountyRealEstateMarket.com
Accredited Buyer Representative
Licensed Associate Broker
William Raveis Legends Realty Group
914.406.9023

chris@LegendsRealtyGroup.net

mrwestchester.blogspot.com

How To Reduce Your Property Taxes In Westchester County NY

I hope this video on how to reduce or grieve your property taxes in Westchester County NY acts as a guide to your success!

Christopher Pagli - www.WestchesterCountyRealEstateMarket.com
Accredited Buyer Representative
Real Estate Associate Broker
William Raveis Legends Realty Group
914.406.9023

chris@legendsrealtygroup.net
mrwestchester.blogspot.com

Real Estate Market Trends In Larchmont NY July/August 2014

The  Larchmont Real Estate Market continues to be one of the hottest in Westchester County.    Home inquiries have been up this season as well.  Although the spring market tends to peak in June we are still seeing a decent amount of activity over the summer.

There were 37 Larchnmont single family homes sales in July, this is down from 43 in July of 2013.  This is partly because of tighter inventory levels in the area.  The sales/list price ratio decreased to 99.9% from 101.5% which is still pretty amazing.  This means that most homes sold for their asking price or more.  The median price was $1,217,000, down 6.0% from $1,295,000 in July 2013. Inventory levels of 69 were also down to 69 or 21.8% compared to 88 the same time last year.  The average days on market of 43 was up substantially from 119 in July 2013.

The Larchmont condo market saw 3 sales in July with a list price/sales ratio of $100.3.  The median price was $663,000 which is way up from $392,000 in July 2013.  Inventory was a little tighter with 15 total units which is down 11.8% compared to last year.  The average days on market was on 22!  You are hopefully seeing the trend here.

There were 5 Larchmont coops that sold this July which is up 66.7% from 3 in July 2013.  The sales/list price ratio inched down to 97.2% from 98.2% last year.  The median price was $190,000, down 46% from $352,000 last July.  Inventory was also down to 14 units compared to 42 in July 2013!  The average days on market decreased a bit to 156.

Christopher Pagli - www.WestchesterCountyRealEstateMarket.com

Accredited Buyer Representative

Real Estate Associate Broker

William Raveis Legends Realty Group

914.406.9023 cell

914.332.6300 office

chris@LegendsRealtyGroup.net

mrwestchester.blogspot.com

Real Estate Market Trends In Tarrytown NY July//August 2014

Inventory remained tight in Tarrytown this spring and we saw 4 single family closings in the month of July.  These numbers are down 55.6% from 9 the same time last year.  The sales/list price ratio moved up to 102.6% from 99.3% in June.  The median price in July was $970,393, up 104.5% from $474,500 last year.  This means that the homes that sold this month were of higher value.  inventory levels were 24 and down 20% from 30 in July 2013.  The average days on market of 130 was up substantially from 35 in June but down from 160 in July 2013.  

The summer months tend to slow as the market usually peaks in June.  Many purchasers want to be in by the summer so they can prepare for the school year.  Typically the market picks back up after Labor day for those that want to be in before the holidays.  This doesn't mean that there won't be any summer activity, just not as robust as the spring market.

The condo market saw 5 sales this July which is down 37.5% from 8 in July 2013.  The sales/list price ratio moved up to 99.3% from 91.9% in June.  The median price was $458,000, down 4.6% from $480,250 the same time last year.  Inventory was down to 22 units which is 45% less then July 2013.  The average days on market were 65, down substantially from 146 in June and considerably from 120 in July 2013.

Coop activity was also light with only 3 units sold and a sales/list price ratio in July of 91.3%.  The median price was $144,000 which was down a little from $170,000 in July 2013.  Inventory of 12 was down29.4% from 17 in July 2013.  The average days on market was 127.

If you have any questions about the Tarrytown Real Estate Market or other trends please feel free to contact me directly.

Christopher Pagli - www.WestchesterCountyRealEstateMarket.com

Accredited Buyer Representative

Real Estate associate Broker

William Raveis Legends Realty group

914.406.9023

chris@legendsrealtygroup.net

mrwestchester.blogspot.com

White Plains NY Real Estate Report July/August 2014

Like many towns in Westchester, White Plains saw a large number of single family closings in July.  there were 33 which is up 22.2% from July 2013.  This is the highest sales have been since August 2013.  The sales/list price ratio in July decreased to 96.4% from 98.6% in June.  Overall the single family sector has performed really well this spring.  The median price in July was $581,000 which is down 8.2% from $633,000 last July.  Homes sold a bit quicker this season with an average market time of 96 days from start to finish.  Last July the average days on market was 133.  I feel this was due to low inventory and the large buyer pool many areas saw this past spring.

The condo market performed well with 14 closings, up 40% from 10 in July 2013.  The sales/list price ratio moved down to 95.2% from 97.3 in June.  The median price was $383,500, down 8.5% from $419,000 in July 2013.  Even though inventory level of 84 units was up 21.7% from June it was down 12.5% to 96 compared to July of 2013.  Condos also sold a bit faster with an average days on market of 102 which is considerably down from 129 in July 2013.

The coop market held pace with the rest of White Plains housing units with 22 units sold which is unchanged from the same time last year.  The sales/list price ratio barely changed from 95.5% down to 94.7%, good news for home sellers.  The median price in July was $175,000 up 2% from $171,500 in July 2013.  Inventory tightened up a bit with 144 units, down from 193 in July 2013.  The average days on market was 98 which is pretty low for a coop considering the process involved.  This is down substantially from 223 in July 2013.

I think it is safe to say that the White Plains real estate market had a great month of sales!

Christopher Pagli - www.WestchesterCountyRealEstateMarket.com
Accredited Buyer Representative
Real Estate Associate Broker
William Raveis Legends Realty Group
914.406.9023

chris@legendsrealtygroup.net
mrwestchester.blogspot.com

Understanding The Importance Of Working With A Westchester County Buyers Agent - VIDEO

I hope this video enlightens those that don't understand the importance of working with a Westchester County Buyers Agent.  Representation can get tricky but I've taken the time to fully understand all aspects and will interpret them for you.  Have a great day!


Christopher Pagli
Accredited Buyer Representative
Real Estate Associate Broker
William Raveis Legends Realty Group
914.406.9023
chris@legendsrealtygroup.net
mrwestchester.blogspot.com

Bronxville NY Real Estate Market Trends July 2014

Bronxville Single Family Homes

Sales

Unit sales in July were 25, unchanged from the same month last year. On a year-over-year basis, unit sales have been rising or even for 4 months. This is the highest unit sales have been since 26 in June, 2013. Sales/list price ratio in July moved down to 96.5% from 97.9% in June.

Prices

Median price in July was $1,210,000. This is down 3.2% from $1,250,000 in July of 2013. 3-month median price of $1,155,000 in July was up marginally from $1,147,500 in June and up a little from $1,078,750 in July of 2013.

Inventory

Inventory of 93 in July was down 8.8% from 102 in June and down 18.4% from 114 in July of 2013. New listings of 16 in July were down considerably from 26 in June and down modestly from 17 in July of 2013. Months of supply of 7.3 in July was down slightly from 8 in June and down a little from 9 in July of 2013.

Market Time

Days on market of 68 in July was down moderately from 87 in June and way down from 109 in July of 2013.

Bronxville Condos

Prices

3-month median price of $290,000 in July was up considerably from $210,000 in June and up slightly from $260,000 in July of 2013.

Inventory

Inventory of 13 in July was down 23.5% from 17 in June and down 51.9% from 27 in July of 2013. New listings in July were 4, unchanged from the same month last year. Months of supply of 7.8 in July was down a little from 9.3 in June and way down from 14.1 in July of 2013. This is the lowest months of supply has been since February, 2014.

Bronxville Coops

Sales

There were 17 unit sales in July. This is down 15.0% from 20 in July of 2013. This is the highest unit sales have been since 18 in December, 2013. Sales/list price ratio in July moved down to 95.9% from 100.6% in June.

Prices

Median price in July was $270,000. This is up 15.6% from $233,500 in July of 2013. 3-month median price of $185,000 in July was down modestly from $195,000 in June and down considerably from $232,500 in July of 2013.

Inventory

Inventory of 168 in July was down 2.3% from 172 in June and down 23.6% from 220 in July of 2013. New listings of 28 in July were down considerably from 39 in June but up slightly from 26 in July of 2013. Months of supply of 10.6 in July was down just slightly from 10.7 in June and down considerably from 14 in July of 2013.

Market Time

Days on market of 128 in July was up slightly from 116 in June but down moderately from 188 in July of 2013.

Christopher Pagli - www.WestchesterCountyRealEstateMarket.com

Accredited Buyer Representative

Real Estate Associate Broker

William Raveis Legends Realty Group

914.406.9023 cell

914.332.6300 office

chris@LegendsRealtyGroup.net

mrwestchester.blogspot.com

How To Appeal A Tax Bill In Westchester County NY

Many have asked me how they go about appealing their tax bill.  First you must understand how properties are taxed in the state of NY.  The assessment is based on market Value, which is defined as the amount a willing buyer would pay a seller without duress.  Unfortunately assessments are not reviewed on an annual basis so the propertys assessment will never be 100 percent of the market value.

An equilization ratio is applied to make up for the difference.  This is to ensure that assessments somewhat equal among different taxing districts to all assessed values.  Home owners can obtain the equilization ratio used in their area from the local tax office.

Couple the above with a proper CMA (Comparative Market Analysis) from a Real Estate agent and then you will get a good idea if you are over assessed.

Follow with these steps:

1) You can setup an informal review with a local tax assessor

2) Review the property card which is available at the local tax offices and is public record.

3) Pay close attention the the comparables on the property card.  These recently sold homes are the basis for the assessors valuation of your home. 

4) Take the appropriate equilization ratio and multiply the market value you believe appropriate for the home by that rate.  If the number is lower then the current assessment, you should file an appeal.

Christopher Pagli - www.WestchesterCountyRealEstateMarket.com

Accredited Buyer Representative

Real Estate Associate Broker

William Raveis Legends Realty Group

914.406.9023 cell

914.332.6300 office

chris@LegendsRealtyGroup.net

mrwestchester.blogspot.com

I'm Selllng My Home, Where Do I Begin?

Selling a home in Westchester County?  Here are some tips that will make your life a little easier when listing, presenting, and showing your home. 

1) Hire A Professional - Most people selling a home don't know where to begin.  Working with a professional will lighten your load and ensure the property will be properly marketed and priced.  Selling on your own can work, and does, but there are many important marketing tools you will miss out on.  Websites such as Realtor.com and the local MLS are extremely important because the local agents will most likely not know about your property if it's not in the MLS.  Another important factor is understanding how and where buyers search.  If you don't know this information how can you effectively market your home?

2) Detach Your Emotions - This is tough because most people selling a home are attached to it.  If you have made the conscious decision to sell then you are halfway through the process of detaching.  Don't be offended if buyers have negative things to say, everybody has an opinion.  Instead try to take the feedback and see if there is anyway to improve the home.  The sales activity in your immediate marketplace plays a big part in what a buyer will most likely offer on your home.  We can't avoid the facts, so hopefully the state of the market will work for you rather then against you.  Keep this in mind and hopefully the next buyer will love the home as much as you do.

3) Take Great Pictures - I can't stress this enough!  Too often I see lousy pictures taken by either an agent or the seller.  I've even considered making a coffee table flip book for terrible home photos ;o).  We laugh but it's really not funny.  As the seller client you should demand to approve the photos before they are officially listed online.  The main idea here is to capture as much of a room as possible, that means including ceiling and floor.  This helps to show depth in a room.  Toilet, shower curtain, and bed close-ups don't do a room justice.  Take a minute to look through the camera lens before tasking the photo.   Make sure anything that doesn't need to be in the photo is out, such as that bottle of glass cleaner on the coffee table or breakfast dishes in the sink.  If you aren't using a wide angle lens then don't include that photo.  If you have captured the essence of the home in the other photos it's ok to leave something to the imagination.  I'm not a fan of wide angle lenses because they make the room  look like it's being viewed through a peep hole.  Remember, buyers formulate their opinion by what they see online, it can cost you a showing.

4) Be Honest & Disclose Where Necessary - Some sellers make the mistake of trying to hide things.  Work with your professional to understand what needs to be disclosed by law and what doesn't.  If you think something might be an issue before listing your home then correct it.  The less you give buyers to gripe about in the beginning the better.  Make sure any and all work permits are in order if you've done work to the home otherwise it will haunt you in the end and could stall your transaction.  I've had a few past clients that didn't do their due diligence prior to buying the home and got stuck fixing the previous owners work, or negligence.  

5) Don't Hover When The House Is Being Shown - Many sellers want to stick around to see what a buyer is saying about their home.  Give the buyer space, if they get uncomfortable it can end the showing abruptly. You want to the buyer to spend as much time as possible getting a feel for your home, buying a home is an emotional experience.  If they feel like they are home then that is what helps sell the property.  

6) Stage Your Home  - You get one chance for a first impression.  When a buyer enters a home they go on how it makes them feel.  If the home has a consistent flow then it will be more inviting.  Keep the senses in mind, pleasant smells, appealing to the eye, and flow are most important.  There are simple fixes that can make a world of difference and cost nothing!  If you have an awkward layout then it will be hard for a buyer to envision how they will set the space up, if it's vacant.

7) Proper Pricing - This is the most important aspect to selling a home.  Most sellers don't know where to begin when it comes to proper pricing.  Many think they have an idea because they used a home valuation tool on a website.  These tools can be somehwat accurate but the proper way is to have a comparative market analysis done.  Better known as a CMA, this is a compilation of local market data and com parable sales within the past 6 months.  You want to know what similar homes sold for as close tou yours in style, location, and condition.  This is the same data a buyer will use to formulate an offer and the bank appraiser for the loan.  Supply and demand is also another important part.  A seller may be able to ask a bit more then the comps for a home if supply is low and the buyer pool is large.  In Westchester County we saw numerous bidding wars this past spring and the season before.  When a buyer wants something bad enough they may be willing to pay more for the home.

8) Marketing The Home - This is the second most important aspect and goes hand in hand with proper pricing.  Your agent should be an expert in this area and it is your job to inquire about the marketing plan for your home.  We have to think about proespective buyers and how they search, where they search, and what will attract them.  If you don't have a full understanding of all the marketing avenues available and how they work, then don't try to do it alone.

Christopher Pagli - www.WestchesterCountyRealEstateMarket.com

Accredited Buyer Representative

Real Estate Associate Broker

William Raveis Legends Realty Group

914.406.9023 cell

914.332.6300 office

Is Westchester County Property Tax Reassessment Really Necessary?

Tax reassessment has become more and more necessary due to the amount of tax grievances many towns are receiving.  These grievances costs the municipalities more then an overall reassessment so this is why they have become more common.  The Town Board must take a vote and if approved the process begins.  The goal is to provide the highest level of assessment equity and fairness to all home owners in Westchester County.

A firm is elected and they begin the arduous task of collecting all the necessary accurate data.  A representative is sent out to visually inspect all of the properties involved and this process can take a year or more.  Visually inspecting a property is the only way to properly assess it in my opinion.

A reassessment address the inequities that have emerged over the years and ensures that each home owner pays their fair share of taxes.  The reassessment doesn't necessarily mean that your taxes will go up, it simply redistributes the goal tax burden more fairly.  This means your taxes may increase or decrease.


Christopher Pagli - www.WestchesterCountyRealEstateMarket.com
Accredited Buyer Representative
Real Estate Associate Broker
William Raveis Legends Realty Group
914.332.6300 office
914.406.9023 cell

chris@LegendsRealtyGroup.net
mrwestchester.blogspot.com

FHA Hawk Pilot Program A Biiiiiig Plus For First Time Home Buyers

The FHA or Federal Housing Administration is set to launch their Hawk Pilot Program October 1, 2014.  Hawk, which stands for Homeowners Armed With Knowledge, is geared towards first time homebuyers and provides FHA insurance discounts when they complete housing counseling and education through HUD.  The counseling must be completed before entering into a contract to purchase a home and those that complete additional pre-closing counseling will receive a 50 basis point reduction in the upfront mortgage insurance premium.  This is a win-win for everyone and I applaud the action.  Many buyers have avoided FHA loans lately because the fees have gotten too high for them.  For more information please contact a local mortgage professional or message me for a referral.


Christopher Pagli - www.WestchesterCountyRealEstateMarket.com
Accredited Buyer Representative
Real Estate Associate Broker
William Raveis Legends Realty Group
914.332.6300 office
914.406.9023 cell

chris@LegendsRealtyGroup.net
mrwestchester.blogspot.com

Dear Home Seller, Please Demand The Best Photos Of Your Listing!

Too often I see lousy listing photos taken by either an agent or the seller. I've even considered making a coffee table flip book for terrible home photos, we laugh but it's really not funny. As the seller client, you should demand to approve the photos before they are officially listed online.  The main idea here is to capture as much of a room as possible and showcase the functionality of the home, that means including some of the ceiling and floor, this helps to show depth in a room.  Toilet, shower curtain, and bed close-ups don't do a room justice,  If you aren't using a wide angle lens then don't include that photo.  If you have captured the true essence of the home in the other photos it's ok to leave something to the imagination.  I'm not a big fan of wide angle lenses because they make the room look like it's being viewed through a peep hole.  Many times I've taken a buyer to a home and they say "the pictures online made the home look much bigger then it is".  I prefer to picture the home exactly as it is so buyers feel the pictures are truly representative of what they are seeing in person.   

Take a minute to look through the camera lens before taking the photo, and remove anything that doesn't need to be in the photo, such as that bottle of glass cleaner on the coffee table or breakfast dishes in the sink, or dirty laundry on the bed.

The last thing I'd like to discuss is dark photos, my number one pet peeve.  I look at some photos and cannot believe that the agent looked through and felt they were ok to include online.  There are so many programs you can use to brighten up and enhance photos.  Two things to keep in mind, photos are representative of our efforts and home buyers DO judge by what they see online.


Christopher Pagli - www.WestchesterCountyRealEstateMarket.com
Real Estate Associate Broker
Accredited Buyer Representative
William Raveis Legends Realty Group
914.332.6300 office
914.406.9023 cell

Chris@LegendsRealtyGroup.net
mrwestchester.blogspot.com

The Strategy Behind Making An Offer On A Home

As easy as making an offer on a home seems it can be very dificult for some to do.  As an agent I get asked all the time "what do you think we should offer"?  I technically cannot tell you what to offer just provide you with market data and support in order for you to make an informed and comfortable decision.  

My approach is simple, we need to make an educated offer.  An educated offer is one where we have analyzed the most recent, comparable sales data to the subject home.  It is very important to compare Colonial homes with Colonials because you won't compare them to a ranch.  If a ranch is the only comp then you will have to adjust a bit because Colonials typically bring a higher dollar due to popularity.  Another very important factor is how close to the subject home the comps are, sometimes you have to extend beyond the 1/2-1 mile radius.

This is the same data a bank appraiser is going to use and hopefully the listing agent when determining a price for the home.  The reason we use sold data is the price a home actually sells for determines value.  In regards to active listings, the seller can ask anything they want for a home but if there isn't a buyer that's willing to pay that price then guess what, your home isn't worth that price. The active lisitngs will just be your competition on the market if you are a seller.  In that case you will want to position yourself as the best value amongst the competing homes.

We take the sold comps and couple them with your level of interest in  the home, supply levels, and what you truly feel it's worth to YOU.  With that we formulate our offer.  When presented we can let the listing agent know how we came to our number and that will give us ground to stand on.  Sometimes this means paying the asking price and above.  In a market like we have in Westchester at the moment, supply levels are low, competition is swift, and homes are disappearing quick.  So many Westchester County home buyers are willing to pay above ask in order to get that home they love.  

Lastly, a good offer isn't always about the price, the terms can make or a break a deal as well.  As a Westchester County Buyers Agent I Always advise the buyer make an offer contingent upon a satisfactory home inspection and their ability to obtain a mortgage.  In some cases buyers do waive one if not both of these in order to "sweeten" the offer a bit.  You have to feel comfortable doing this and if you aren't then that is how it will be.  Having nothing to sell, the ability to break a lease at any time, and being flexible with the seller on closing timeframe can also help you.  

I love giving my Westchester County buyer clients the knowledge and tools they need to make a comfortable decision.  After all, I want you to love the home you purchase!

Please feel free to contact me with any questions.

Westchester County Real Estate Agent, Westchester County Buyers Agent, 

Christopher Pagli - www.WestchesterCountyRealEstateMarket.com

Accredited Buyer Representative/Real Estate Associate Broker

William Raveis Legends Realty Group

914.406.9023 office
914.406.9023 cell

chris@legendsrealtygroup.net

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