Westchester Real Estate Talk

Down in New York City 93% percent of buildings allow dogs and that number has tightened over the years.  In Westchester County it is difficult to get an owner of an apartment or house who is renting the property to agree to pets, especially dogs.  I now have several properties for rent on the market and one owner will consider a dog under 10lbs if he has to.  Another owner prefers no dogs.  As a listing agent with a few rentals at the moment I get called from loads of agents whose clients have dogs and larger dogs.

"The dog is wonderful, the dog is house trained, the dog is only 5 years old and my client will pay whatever is necessary will the owner consider a dog"

I recently had an offer on one these house listings where the agent called and stated all of the above.  The client liked the property and put in an offer.  When the owner asked for a "dog deposit" the client did an about face and said no.  The owner wanted an additional amount each month for the dog rather than a deposit.  He doesn't want to have to discuss at the end of the lease whether the dog made this or that scratch.  The client said no, her dog wouldn't cause any damage.

Dogs are interviewed, placed in apartments and doorbells rung to see the reactions, dogs are checked out to see if the owner's (love is blind) are telling the truth about the size of the dog, and the temperament.  I even know of a company that cleans up properties from the poop if the owner of the dog doesn't.

The New York Times has a wonderful article about dogs and buildings in New York City.

                                                               Did I Pass the Interview?

Read the 1st Quarter housing statistics from the Westchester-Putnam Multiple Listing Service. If you listen to the news, read the papers it would seem that all the value has deflated from the housing market.  This report is reassuring.  Have there been adjustments downward, yes.  Are properties sitting on the market a bit longer, yes. But it is certainly not the doom and gloom that you see on TV or in the papers.  Also, remember that real estate is regional and Westchester County is hanging in there.   Please read this report for yourself.

                            1st Quarter Housing Stats 

Yesterday, the National Association of Realtors also released a first quarter report.  The newspaper's headlines reporting this said "Largest Home Price Drop in Years" Yikes!  Nationally existing home sales fell 8.4% in March and prices dropped as well.  The real problem however, is the length of time it takes to sell a house at this time. In February there was a 6.8 month supply of homes and now there is a 7.3 month supply.  While Januaary and February were upbeat March is not so much.  Please read this report:

           National Association of Realtors 1st Quarter Report 

Finally the article from the local Westchester County newspaper the Journal News - read their take on the report.

The Journal News Article on the Real Estate Market 1st Quarter Reports

Photo Courtesy of GeekPhilosopher.com

1 BR, 1Bath, Brand New Kichten, Renovated bath in charming pre-war building in Hastings-on-Hudson.  Walk to Village, Shopping and Town. Wood Floors, oversized rooms and archways, large entry foyer, lots of closets, parking, additional parking available if needed,  Hastings School District. 

Vacant and Available Immediately.

 465 Broadway, 5D, Hastings-on-Hudson, NY

$1850.00

No fee

Call 914-907-1922

More information please visit www.MiriamBernstein.com

House for rent in Scarsdale. Walk to Village of Scarsdale shopping and train. Living Room, Dining Room, Eat in Kitchen, 1st floor laundry, Supersized Den.  Upstairs are a Master Bed and Bath plus three bedrooms and a hall bath.  Driveway leads to a two car garage at the back of the house.

Asking $4750.00
Vacant and Available
Small pets considered
Scarsdale Schools

www.MiriamBernstein.com for further information

914-907-1922

30 Sprague Road, Scarsdale, NY 10583

Charming center hall colonial in the Scarsdale School District for rent.  3 Bedrooms, 2.5 bath, 2 car garage, Living Room, Formal Dining Room, Sun Room, Brand New Eat in Kitchen, Master bedroom and bath, 2 family bedrooms, hall bath.  Basement is full and unfinished.

$4275.00

MLS #2712455

Vacant and Available Immediately. 

Yesterday morning I received this question from a buyer, let's call him Marlon the Buyer (names changed to protect the innocent).  Marlon the Buyer says please help me and this is his story:

  "I am planning to buy a co-op in ?. This is a 2 bedroom 1 bath co-op which has 1100 sq.ft. The advertised price in one site was $259,000. My Realtor after speaking with the seller says $256,000 is the price they will accept. Now after 2-3 days I find that the same co-op is listed for $255,000 directly from the listing agent advertised on her website, and speaking to her I  found that we can negotiate starting from $245,000.  My guess is the Realtor who supposedly is helping us is trying to rip us off saying that we should be content with this price. This co-op has a balcony while another property in the same building with exact sq.ft and layout without  a balcony has been sold for $240,000. Can you please let me know if $16K is something generally charged extra for houses with terraces and also the monthly maintenance + tax is $970 for this unit. Please advice. Please call me or mail me"

I told Marlon the Buyer that it would be inappropriate for me to comment.  I suggested that he talk to the Realtor's broker if he wanted someone to look into this situation.  But it brings a few questions to mind. 

1. I also asked him if he had hired the Realtor to work as a Buyer's Agent.  Was the agent who was negotiating for him representing his interests? and did he understand the concept.  Did he understand that even though the agent was showing him properties the agent could be working in the seller's best interests?

2.  Did the listing agent advertise this apartment on their website at a different price that it is listed for on the MLS?

3.  If the buyer called the listing agent directly after having negotiated the price, did the listing agent tell the buyer directly that you can begin your negoations at $240,000 and not tell the other broker the same thing? 

It is impossible to know what the other side of the story is, if Marlon the Buyer is misunderstanding some of these issues.  One thing is clear this does not make us, the Realtor's, look good.  If Marlon the Buyer doesn't understand about buyer brokerage then the agent didn't do their job.  If Marlon the Buyer doesn't understand the value of what he is buying and that the price is appropriate then the agent didn't do their job.  If Marlon the Buyer doesn't understand that the listing agent, ethically, shouldn't be advertising one price on the MLS and another on their own site then the agent isn't doing their job. If Marlon the Buyer is uncomfortable with the price he is paying for the co-op what are the odds he will move forward?  Thoughts?

Wonderful 2 bedroom, 1 bath rental in a pre-war building in Hastings On Hudson, New York.  Walk to Village, shopping, train. Brand new kitchen, one renovated bathroom.  Parking.  Vacant and available.  $2250.00/month. Parking 1st spot $75.00.  Building entry, elevator and hallway being renovated.  High ceilings, details, private and quiet.  Oversized living room, dining room, foyer, 2 br's, 1 bath.  Call 914-907-1922

Miriam Bernstein, Associate Broker

RE/MAX prime properties

MLS #2712038

For further information please visit www.MiriamBernstein.com

914-907-1922

 Living Room leading to Dining Room

Brand New Kitchen and Appliances                                                                                                                                                                    

I just got a call from a broker in New Jersey.  They have a buyer who just did an Engineering on the house down there and are moving from Queens in New York.  The broker was trying to coordinate the closing date on the house in New Jersey and property they are selling in New York.  Problem was that the buyer seemed a tad confused about he process.  The broker called me to find out how we do things in New York knowing that it is different than in New Jersey.  A blog topic!  So here is the sequence of events for buying property in the Metropolitan New York area. I say Metropolitan New York area because upstate New York it is done differently as well. 

The Process

1.  Find a property that you want to buy.

2.  Figure out with your agent what your offer will be with the terms, price, financing and closing. A pre-qualification would be necessary at this point.

3.  Present the offer to the listing agent.  If acceptable get an acceptance from the seller

4.  Give you agent the name of your attorney. 

5.  Schedule an Engineering (I always recommend this) with termite, septic (if on septic), asbestos (if
indicated), radon and whatever else the property indicates.

6.  Discuss the Engineering with your Agent and /or Attorney

7.  Call your Attorney and schedule an appointment to go in and review, sign and leave your down payment with your attorney.

8.  Begin to work with your mortgage broker/banker submitting all of your documents and getting the mortgage committment

9.  Once you have your committment you attorney will order a title search and survey.

10. Schedule a closing date, close, move in and enjoy.

This is the sequence in general and your real estate agent can guide you and fill in all the details for you. 

There are literally thousands of sites on the interenet where you can find school information, report cards and links to the school districts.  I have compiled what I believe to be the best sites out there.  Please be aware that these sites are provided as a courtesy to you and that any information on these are subject to change.  Please also verify information before making any real estate decisions. 

Link to Every School District in Westchester County  this link includes the names of each school district as well as the corresponding elementary, junior and senior high school names.  For instance you may not know that the name of the school district in Armonk is Byram Hills.

National Center for Education Statistics this is a govermant site that has class sizes, locations of schools and districts, reading scores, public schools, private schools, charter schools, quite comprehensive.

Westchester County Pre-Schools  this is the best list I could find but it is from a few years ago and might not be entirely complete.

State Education Department - Resources for Parents

State Education Department - Non-Public Schools Catholic Schools, Jewish Education Services, State Colleges, Community Colleges, Charter Schools, Home Schooling in New York

Private Schools in Westchester County a list of the private schools in Westchester County. 

         These sales statistics for Westchester County, New York are from the Realist tax program that the Westchester-Putnam Multiple Listing Service uses.  The 1st quarter report and analysis from our MLS will not be available for a couple more weeks.  This is a snapshot.

Single Family Homes in Westchester County

                                                                 Number of Sales              Median Sale Price

February 2007                                                  353                            $550,000

February 2006                                                  455                            $625,000

January 2007                                                   545                            $575,000

January 2006                                                   319                            $625,000

2007 Year to Date                                           1095                            $566,050 

2006                                                              6813                           $620,000

 Condominiums in Westchester County

February 2007                                                  109                            $377,500

February 2006                                                  201                            $410,000

January 2007                                                   156                            $408,500

January 2006                                                   127                            $366,693

2007 Year to Date                                            319                            $393,975

2006                                                             2157                             $395,000