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

Have You Ever Heard Of A Crop Mob?

We have all heard of the mob but a crop mob?  I was recently enlightened and felt the need to pass on this valuable opportunity!  The idea started in North Carolina many years ago when a small number of farmers began helping other farmers out with big projects.  It turned into a monthly event and they rotated from farm to farm.  Deb Taft is the founder of the Lower Hudson Valley Crop Mob and also the owner of Mobius Fields.  This is your opportunity to get involved and volunteer your time to helps farmers in the Hudson valley flourish.  When large projects need assistance the volunteers can sign up and get to work on the farm in order to complete the project by the set date.  For more info you can and should contact Deb Taft at Deb@mobiusfileds.com.

We are in the middle of a food crisis in this country as more and more big business take control of what we consume.  The almighty dollar fuels their fire and many don't care what we eat.  Supporting local, organic farmers is one way to have a hand in what you or your family actually consumes.  there is nothing like knowing for sure where your food comes from and how it's been handled.

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

chris@legendsrealtygroup.net

Bicycle Sundays On The Bronx River Parkway 2014 Schedule

Every year the a section of the Bronx River Parkway from White Plains to Scarsdale Rd, Yonkers gets transformed into an outdoor free for all.  The parkway is closed from 10am-2pm to cars and open to bicyclists, joggers, walkers, scooters, and any other form of physical movement.  The entire course clocks in at 13.1 round trip miles.  This year the remaining dates are May 11, 18, June 1, 8, 15, 22, 29, and September 7, 14, 21, 28.  Below are some rules that all must follow...

Bicycle Sundays Rules and Regulations

• Bicyclists, in-line skaters, scooters, walkers and joggers ONLY; no motorized vehicles allowed.
• Walkers, joggers and slower wheeled traffic must use right lane; faster wheeled traffic must use left lane.
• Helmets are required by New York State law for children under 14 years of age, including those riding in bike trailers, and are recommended for all wheeled participants.
• New York State law prohibits children under age one from riding on bicycles or in a separate seat.
• All headsets are prohibited; this includes but is not limited to music devices and hands free cell phones.
• No skateboarding allowed.   
• No dogs allowed.
• Bicyclists must obey posted parkway speed limit of 40 m.p.h.
• Children riding in strollers must be strapped in at all times.
• Children under age 10 must be accompanied by an adult.
• All participants must be off the parkway by 1:50 p.m.
• Stay alert and be considerate of others.

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

Westchester, Putnam, Rockland County Bike Trails

1) State Bike Route 9: 345 mile-trail that runs through Westchester, Putnam, Rockland and other counties.

2) Bronx River Pathway: 9.6 mile bike and pedestrian trail

3) South County Trailway: 8.1 mile bike and pedestrian trail in Westchester.

4) North County Trailway: 8.1 mile bike and pedestrian trail in Westchester.

5) Putnam County Trailway: 12-mile bike and pedestrian trail that begins on Seminary Hill Road.

6) Old-Croton Aqueduct Trailway: 26.2 mile bike and pedestrian trail from Yonkers to Croton Dam

7) Orangetown Trail: 5-mile bike and pedestrian trail in Rockland

8) Nyack Beach-Hook Mountain Greenway Trail: 5-mile paved and unpaved bike and pedestrian trail.

9) Jones Point Greenway Trail: 1.3 mile unpaved bike and pedestrian trail.

Christopher Pagli - www.WestchesterCountyRealEstateMarket.com

Accredited Buyer Representative

RealEstate Associate Broker

William Raveis Legends Realty Group

914.406.9023 cell

chris@legendsrealtygroup.net

mrwestchester.blogspot.com

White Plains NY Real Estate Market Reports, March 2014

Single Family Homes

Sales

There were 13 unit sales in March. This is down 7.1% from 14 in March of 2013. Sales/list price ratio in March moved up to 97.4% from 96.4% in February.

Prices

Median price in March was $580,400. This is up 6.5% from $545,000 in March of 2013. 3-month median price of $578,950 in March was up just slightly from $560,000 in February and up marginally from $574,000 in March of 2013.

Inventory

Inventory of 98 in March was up 30.7% from 75 in February but down 14.0% from 114 in March of 2013. New listings of 41 in March were way up from 11 in February and up considerably from 23 in March of 2013. Months of supply of 5 in March was up moderately from 3.8 in February but way down from 7.6 in March of 2013.

Market Time

Days on market of 128 in March was down a little from 132 in February and down substantially from 315 in March of 2013.

Condos

Sales

There were 6 unit sales in March. This is down 33.3% from 9 in March of 2013. This is the lowest unit sales have been since 2 in October, 2010. Sales/list price ratio in March moved up to 96.0% from 94.6% in February.

Prices

Median price in March was $342,250. This is down 15.2% from $403,500 in March of 2013. This is the highest median price has been since October, 2013. 3-month median price of $335,000 in March was very slightly up from $325,000 in February but down modestly from $397,000 in March of 2013.

Inventory

Inventory of 85 in March was up 6.3% from 80 in February but down 12.4% from 97 in March of 2013. New listings of 23 in March were up substantially from 11 in February and up somewhat from 19 in March of 2013. Months of supply of 6.4 in March was up a little from 5.9 in February but down modestly from 7.6 in March of 2013. This is the highest months of supply has been since August, 2013.

Market Time

Days on market of 109 in March was up slightly from 93 in February but down considerably from 175 in March of 2013. This is the highest days on market has been since September, 2013.

Coops

Sales

There were 13 unit sales in March. This is up 8.3% from 12 in March of 2013. Sales/list price ratio in March moved down to 94.3% from 95.4% in February.

Prices

Median price in March was $140,000. This is up 35.6% from $103,250 in March of 2013. 3-month median price of $141,250 in March was down a little from $155,000 in February and down modestly from $160,125 in March of 2013.

Inventory

Inventory of 149 in March was up 1.4% from 147 in February but down 19.9% from 186 in March of 2013. New listings of 36 in March were up moderately from 28 in February and up slightly from 32 in March of 2013. Months of supply of 10 in March was very slightly up from 9.9 in February but down moderately from 14.2 in March of 2013.

Market Time

Days on market of 271 in March was way up from 157 in February and up considerably from 220 in March of 2013. This is the highest days on market has been since March, 2012.

Multi-Family Homes

Prices

3-month median price of $750,000 in March was up substantially from $215,000 in February and up considerably from $341,000 in March of 2013.

Inventory

Inventory of 12 in March was up 9.1% from 11 in February but down 14.3% from 14 in March of 2013. New listings of 1 in March were up from 0 in February and up from 0 in March of 2013. Months of supply of 10.5 in March was up a little from 9.6 in February and up somewhat from 8.6 in March of 2013. This is the highest months of supply has been since October, 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

23 Zoos, Nature Centers, and Preserves in Westchester County NY

1) Beczak Environmental Education Center - 35 Alexander Ave Yonkers, NY - 914.377-1900 x12 or Beczak.org - The center is open Monday-Saturday 9am-5pm through October...closed on Sundays, FREE

2) Cranberry Lake Preserve - 1609 Orchard St. West Harrison NY - 914.428.1005 or parks.westchestergov.com, open Wednsday-Sunday 10am-5pm July-August...open 9am-5pm Daily - FREE

3) Greenburgh Narure Center - 99 Dromore Road, Scarsdale NY - 914.723.3470 or greenburghnaturecenter - open daily dawn to dusk...Indoor exhibits are open weekdays (except Friday) 9:30-4:30pm, weekends 10am-4:30pm, Price is $7, $6 for seniors & students, and $5 for children 2-12, free for children under 2.

4) Ladson Park, Aboretum and Veteran Memorial - Rte 35 Somers NY, 914.864.7263 or parks.westchestergov.com, open daily 8am-4pm, Veteran's Memorial open weekends, Veteran's Museum open Summer, Garden Shop open March Thru Christmas Wednsdays - Sunday 11am-3:30pm, FREE

5) Lenoir Preserve - 19 Dudley St, Yonkers NY 914.968.5851 or parks.westchestergov.com, the Nature Center is open September thru June Tuesday-Saturday 9am-4pm, July and August Monday-Friday 9am-4pm, TRails open daily dawn to dusk, FREE

6) Marshland Conservancy - Rte 1, Rye NY - 914.835.4466 or parks.westchestergov.com, open Tuesday-Sunday and most holidays 9am-4pm, Trails open daily dawn to dusk.

7) Muscoot Farm - 51 Rte 100, Katonah NY - 914.864.7282 or muscootfarm.org, open daily 10am-4pm, FREE

8) Read Wildlife Sanctuary and Nature Center - Playland Parkway, Rye NY 914.967.8720 or parks.westchestergov.com - Nature Center open Tuesday - Saturday 9am-4pm, Trails open daily dawn to dusk, FREE

9) Rye Nature Center - 873 Boston Post Road, Rye NY - 914.967-5150 or ryenaturecenter.org, grounds and trails open daily dawn to dusk, Butterfly House open May-October dawn to dusk, FREE but donations appreciated.

10) Sheldrake Environmental Center - 685 Weaver St, Larchmont NY - 914.834.1443 or sheldrakecenter.org, open Monday-Friday 9:30am-5pm, closed weekends and holidays, FREE for hiking, program fees vary.

11) Teatown Lake Reservation - 1600 Spring Valley Road, Ossining NY - 914.762.2912 or teatown.org, open daily 9am-5pm, trails open daily dawn to dusk, FREE but program fees vary.

12) Trailside Nature Museum at Ward Pound Ridge Reservation - Rte 35 and 121, Cross River- 914.864.7322 or friendsoftrailside.org, Trails open daily dawn to dusk, Museum open Tuesday-Saturday 9am-4pm, FREE but there is a $2 suggested donation.

13) Weinberg Nature Center and Trailside Museum - 455 Mamaroneck Road, Scarsdale NY - 914.722.1289 or weinbergnaturecenter.org, fall, winter, spring hours Weds 10am-2pm, Thursday-Friday 10am-5pm, Saturday-Sunday 10am-4pm...Summer hours 10am-5pm, trails open daily dusk to dawn.

14) Westmoreland Sanctuary - 260 Chestnut Ridge Road, Bedford Corners NY - 914.666.8448 or westmorelandsanctuary.org, open Monday-Saturday 9am-5pm, Sunday 10:30am-5pm, trails are open daily dawn to dusk, FREE.

15) The Wolf Conservation - South Salem 914.763.2373 or nywolf.org

16) Kitchawan Preserve - Yorktown - 914.864.PARK - 

17) Croton Point Nature Center - Croton-on-Hudson - 914.862.5297 - Local flora, fauna, and Native American history

18) Mianus River Gorge Preserve - Bedford - nature.org - 738 Acres with falls, quarry, and 350 year old hemlocks.

19) Otter Creek Preserve - Mamaroneck - A 27 Acre preserve with short loop trail

20) Rockefeller State Park & Preserve - Pocabntico Hills - 914.631.1470 - friends rock.org - Rockefeller designed carriage trails and visitor center.

21) Pruyn Sanctuary and Butterfly Garden - Chappaqua - 914.666.6503 - sawmillriveraudobon.org/pruy.html - 92 acre wildlife preserve.

22) Silver Lake Preserve - White Plains - 914.864.PARK - fishing, walking, and hiking trails.

23) Eugene & Agnes Meyer Preserve - North Castle/New Castle - nature.org - A 247 Acre preserve with trails.


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

chris@legendsrealtygroup.net
mrwestchester.blogspot.com

Tips For 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 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

mrwestchester.blogspot.com

Westchester County Wine & Food Week 2014

For the past four years Westchester Food & Wine week has been a collaborative effort between Westchester Magazine, Ritz Carlton Westchester and Zachy's.  The multi-day celebration beginning June 3-8,  features some of the finest food, world class wines, wine seminars, celebrity chefs, craft beers, and some fun.  This year they welcome Casino Royale at the Empire City Casino in Yonkers with food from Chef Alain Ducasse's restaurant, Pinch.  There will be live music, craft beers and $100 in gifts and coupons to be used at the casino.

Reserve your tickets quickly as participation has grown exponentially over the years.  Visit www.westchestermagazine.com/wineweek for the complete schedule of events, pricing, and tickets.

By 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

Should The Buyer Of A Home Work Directly With The Sellers Agent?

I get asked this very question all of the time.  My answer is simple; the listing agent represents the sellers best interest, ALWAYS.  Anything you say can and will be used against you in a negotiation.  Many seem to think that if they contact the listing agent they will get inside info and a better deal.  Although some may go against their fiduciary duty to the seller because they want to put together a deal, this is not the proper way.  We have to relay any information about the opposing party that will benefit or help the client make a sound, informed decision. 

Keep in mind, there is no way to properly represent two opposing parties in a transaction and honestly have both parties best interest in mind.  Each party deserves their own representation, especially when negotiating and specific issues arise. 

Anytime we meet a customer for the first time we, by law, have to discuss the different types of representation.  In NY we are all sellers’ agents until we specify otherwise in writing.  The NY State disclosure form describes the different types of representation and once both parties decide how that client will be represented they execute the form.  Once the form is executed the agent has a fiduciary duty to that customer who is now a client.  This form is not a contract; there is a separate contract that can be used if mutually agreed upon. 

It is important to know how you are being represented and who is looking out for your best interest.  Make sure you have a clear understanding from your agent and don't be afraid to ask questions. 

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

914.406.9023 cell

914.332.6300 office