Westchester Real Estate Talk

The much anticipated third quarter report from the Westchester-Putnam Multiple Listing Service is now available. Seems that the tales of doom and gloom in the housing market have not effected the residential market in Westchester County.  Interest rates were only up slightly and not enough to stop buyers from buying.  Real estate reports are regional and this report proves that. Some highlights:

Sales of single family houses rose 5.5% for the 3rd quarter of 2007 over 2006.

There were 2,750 closed transactions during the 3rd quarter under 1% difference from 2006.

Co-op sales were up 2% while condominium sales increased just under .5%.  There was a large drop in the number of multi-family homes sold, down 47%.

Properties of one million and up increased their market share from 21% at the beginning of 2006 to 28% for the 2nd and 3rd quarters of 2007.

Article from this morning's Journal News on the report from the Westchester-Putnam Multiple Listing Service, click here. and to read the entire report, click here.

Westchester County Airport

Stewart International Airport

The Port Authority of New York/New Jersey (JFK, LaGuardia and Newark Airports)

Close to 80 years ago a family by the name of DiFate bought a 1/2 acre of land in the Town of Greenburgh which is located in central Westchester County, New York.  For all of this time this family has earned their living with a hot dog stand on this property.  The landscape around them has changed tremendously over the years including a Parkway, the Sprain Brook Parkway,  being built that now has an entrance/exit where their property is located.  They were located off the Jackson Avenue exit, going north, left at the light.

This year after all this time they were told that the zoning for their property does not allow Hot Dog Stands, 79 years later.

"The elder DiFate - who died this year at the age of 96 while fighting the town's decision - began selling hot dogs in 1929 out of a small cart for a whopping three for a dime. The only soda you could buy was orange drink, which went for 3 cents"

Mr.DiFate's sons want to continue the family business and tradition.  The Town Supervisor believes they should be allowed that this hot dog stand adds to the uniqueness of the community.  The stand is close to homes and is not interefering with traffic and really doesn't seem to be bothering anyone.  The family has had to hire an attorney.  If there ever anything anywhere that should be grandfathered in, it would seem to be this Hot Dog Stand.  I hope they win the right to return with their stand.

This week I got a call from a young lady working for Just List....com.  The callers are getting five minutes of training and any questions throw them off their scripted speech.  Please don't interrupt me!  Yet another caller saying to me "don't you want to make money" when  I say I am not interested.  These young people are all being trained with the same dialogue, yuk.

Hi, is this Miriam?

Yes, who's calling.

How are ya today? 

Do you have a few minutes?

At this point I say, if you are trying to sell me a monthly subscription to something I am not interested but will pay a referral fee for a legitimate lead.

What do you mean, young lady says, that doesn't make any sense!  We are giving you an entire zip code for only $199.00/month.  Why in the world would you not want the leads, How can you make money just paying for referrals.  You don't understand how this works!

YADA, YADA.

As homes prices continue to soften I am finding that it is the litttle things that are becoming hugh.  I had a closing this week.  The entire deal from the beginning had been a pleasure.  Showed the property on day three it was on the market. My buyer hesitated a bit but then decided to buy it.  Price was agreed.  Mortgage was gotten with no problem and the buyer passed the board also with no problem.

We get to the final walk through.  The seller had removed furniture and dishes but left three cans of paint in the closet, an ironing board and some old wicker shelving in the closet and he turned the refrigerator off and left the doors closed.  Now, we know that if you unplug a refrigerator and leave the doors closed you will probably have to dispose of the refrigerator, the odor is unbearable.

And this is where the pull is coming now more than ever.  Sellers believe that they have lowered their price significantly and should because of that not be obligated to do anything further.  Buyer's believe they have paid a fair price and are entitled to be treated with respect. 

The listing agent calls the seller and he comes to the apartment and removes the paint.  He puts two boxes of baking soda in the refreigerator and that's that.  However the odor is still pretty unbearable and the buyer doesn't feel that she can use the refrigerator, now what?  She is willing to throw out all the stuff that the seller left even though it was his responsibility to leave the unit empty and clean.  But what about the fridge.  The contract simply says that it has to be in working order.  The seller did not know that you can not unplug or turn off a refrigerator without leaving the doors open.

If you are selling, do not unplug or turn off the refrigerator, please.