Westchester Real Estate Talk

Another Scam - Using the Name RE/MAX

Miriam Bernstein,Westchester County Real Estate (RE/MAX Prime Properties) — Wed, 11 Mar 2009 07:57:23 -0500

By Deborah Ball, RE/MAX Times Associate Editor

CONSUMERS, BEWARE: Bogus ads touting advance fee loans like this one have appeared in some local U.S. newspapers from a fake company called "Remax Financial." It is not affiliated with RE/MAX International or RE/MAX brokerages.

A fake company is using the RE/MAX name to scam consumers for loans - and RE/MAX International asks you to be on the alert for suspicious activity.

The purported company,"Remax Financial," has been advertising advance fee loans in local newspapers in Illinois, Iowa, Georgia and other states since December.

RE/MAX International sued "Remax Financial," which is not in any way affiliated with RE/MAX International or any of its real estate brokerages, for trademark infringement and dilution, unfair competition and cybersquatting, in a complaint filed in the U.S. District Court for the Northern District of Illinois in February.

In its ads, "Remax Financial" directed borrowers to a toll-free phone number, (866) 398-3670. After RE/MAX International contacted the company responsible for leasing the number, it was briefly disconnected, but has since been reactivated. No one answers the line, but a voice message thanks callers for contacting RE/MAX and requests that they leave a message.

"Remax Financial" also operated a Web site - remaxf.com - to advertise its illegal loan services.

To read the full story, please click here.

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Inclusions and Exclusions

Miriam Bernstein,Westchester County Real Estate (RE/MAX Prime Properties) — Sat, 21 Jun 2008 06:40:13 -0500

There are many thoughts on how to deal with what is included and what is excluded with properties. In my area for exlusions a lot of agents simply put "call l/a" to protect themselves or because they haven't taken the time to go over this with the seller or the seller wasn't sure about what they were leaving. The problem with this is that when a buyer's agent is showing a property and trying to formulate an offer with a buyer they can't give a full picture. If a buyer formulates an offer and then finds out that the ceiling fans are not included or the light fictures it can change what they want to offer.

It can be difficult for the buyer's agent to call the listing agent at that moment to get the list of exlusions if there is one. The buyer's agent should be able to answer the buyer's questions as they go through the house so that the buyer can get a correct picture. This might cut down on a lot of last minute changes in offers and buyers feeling that certain things because they are in the house and "attached" should be included.

Have you ever submitted an offer and after submitting it been told that so and so is not included. That buyer has included the cost of that item in their offer, no fair. The buyer's say "okay I m willing to pay such and such because I don't have to pay for such and such, it is included" onl to find out that it isn't included. That can sour a buyer on a property, create bad feelings and change an offer. As a buyer ask what is excluded and what is included before you make your offer!

Why can't listing agents just list what is not included on the lising to avoid this issue?

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Westchester County Real Estate Market

Miriam Bernstein,Westchester County Real Estate (RE/MAX Prime Properties) — Tue, 28 Oct 2008 06:36:19 -0500

Below is a link to the article that appeared in the local newspaper in Westchester County, The Journal News. According to the Westchester Putman MLS 3rd Quarter Report:

1. Home owners in Westchester County it would seem that a greater ability to hold their properties off the market and wait for some calming or reversal in the market;

2. The foreclosure problems devastating other real estate market throughout the country are not as dire here even though the number of foreclosures have increased and what is going on in the financial markets will effect us because of our proximity to Wall Street;

3. The unemployment rate has edged up;

4. The number of sales has slowed dramatically but some buyers can still buy and are finding the pricing to be good, it is a buyer's market overall in this county with the number of months of inventory at 9.6;

From the Journal News here.

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Careful on the Roads, Westchester County, New York

Miriam Bernstein,Westchester County Real Estate (RE/MAX Prime Properties) — Mon, 03 Nov 2008 04:28:52 -0600

Breeding season for the hoofed mammals runs roughly from October through December, and with their minds on mating, apparently they get a little loopy and careless about cars"

Throughout Westchester County you can see deer on the roadsides. Even as far south as Ardsley and Yonkers. Driving at night can be dangerous during deer mating season as they dash onto the roadways without warning.

Excerpted from the New York Times:

"October, November and December are the peak months for vehicle collisions with deer. The high point is in mid-November, the peak of the rutting season. "They are breeding, and many of these deer have other things on their minds," Compounding the problem will be the start of hunting season. Westchester does not have a firearms season, but long-bow hunting is permitted from Nov. 1 through Dec. 31. While hunters are in the woods, deer may be driven from their natural habitat into more developed areas, including major roadways. (Longbow hunting is prohibited within 500 feet of a dwelling, so it is unlikely that any archers will be taking aim along the Saw Mill River or the Taconic State Parkways.)"

From our local newspapers, the Journal News, here.

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Something New In Google Maps

Miriam Bernstein,Westchester County Real Estate (RE/MAX Prime Properties) — Thu, 30 Oct 2008 08:12:16 -0500

What's new is that now you can get the driving directions you have always been able to get but in addition now you can get public transporation times and routes when you enter in an address, either train or bus, and you can get walking routes as well. Very cool to help getting around. Check out this short video and then visit Google Maps, here.

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Between Agents

Miriam Bernstein,Westchester County Real Estate (RE/MAX Prime Properties) — Wed, 29 Oct 2008 05:57:09 -0500

Real Estate agents have all kinds of ways of going from beginning to end in a Real Estate transaction. Some agents put in an offer, communicate attorney information and then disappear into some large black hole never communicating the progress of the deal. Others agents will return an email or phone call when asked, others don't stay on top of their deals and don't know how to respond.

This is what happened to me on a recent transaction. The other agent is rather new in the business and her client was a relative. This agent thought it would be okay to pick which information she would divulge and would not permit the listing agent to properly do their job. Even in the climate we find ourselves with the banks, where listing agents in order to do their job property need to properly scrutinize a buyer this is how she proceeded. Other than understanding that this is the job her perception was that the listing agent was unnecessarily giving her a hard time by questioning the ability of her buyer to get a mortgage.

I personnally love it when an agent informs me along the way as to the status of transaction. A call that says, my buyer has submitted his application to the bank, my buyer has gotten a provisional approval, the appraisor will be coming next week, my buyer has submitted their application to the the co-op board, my buyer is going to be interviewed on such and such, etc. I find these calls invaluable for an owner. I always approach my transactions this way and keep a listing agent and seller informed. It helps a seller plan their next step.

Buyer's need to understand that properly analyzing a buyers ability to purchase a property helps a seller make a favorable decision as to whether to accept a buyer' offer. Seller's need to feel comfortable that a buyer is qualfiied. It is no longer enough to just present a bank pre-approval. Listing agents may require further information, may call the mortgage broker or bank the buyer went to and ask some tough questions. Be prepared.

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Some Rules for Working with Real Estate Agents

Miriam Bernstein,Westchester County Real Estate (RE/MAX Prime Properties) — Sun, 26 Oct 2008 05:59:31 -0500

I think there are misunderstandings between buyers, sellers, agents because expectations aren't expressed or clearly understood. So some rules of the road.

If you fill out a form on a website it is possible that an agent will contact you. We are people too. If you would prefer to not have a conversation with an agent it is okay to be polite. It is okay to say No, thank you. You do not have to slam the phone down.
If you bring the kids to view properties that's great. Please hold their hands when you go through a house, please leave cookies and food in the car.
If you are going to be late, please call. Most likely we have made a bunch of appointments and there may be homeowners waiting for you, or a homeowner has gone out and will return after you view their home, not calling is not fair.
If you respect us we will respect you. We are all licensed by our states and there are certain things we need to tell you, we must. It is the law.
If you call after 5pm real estate offices are closed and we can't make appointments to show you properties, we need to make appointments, schedule showings and will not drop everything to run all over with you, please plan ahead.
We are not a free service. We are hard working individuals, we make our living selling real estate, we are educated, trained, experienced, some respect please.
We reserve the right to not be yelled at, be taken advantage of, treated badly, kept waiting every time we make an appointment with you (it's not okay).
If we show you a property we expect that you buy that property with us, that's only fair.
Commmon sense works. Ask questions about how it works, what's okay and what isn't we can talk about it.

Thank you.

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Town of Greenburgh Dog Park

Miriam Bernstein,Westchester County Real Estate (RE/MAX Prime Properties) — Tue, 07 Oct 2008 05:37:51 -0500

After several years of discussion New York State granted the Town of Greeburgh $43,000 to build a dog park. This dog park officially opened this week and is a state of the art dog park. There is an area for small dogs and there is an area for large dogs. There are trails that dogs will love. This dog park is located in E. Runsbrook Park which is a Town Park and will be maintained by the Town. Private donations are being requested from dog lovers and pet owners.

There is proper etiquette for dogs and dog owners going to a dog park. Dogs need to interact and bully dogs are not welcome. To read what to look for, Dog Park Safety.

This park is located off of Dobbs Ferry Road. Taking the Sprain Brook Parkway South taking the Greenburgh/Ardsley Exit. Right at the Stop Sign (Dobbs Ferry Road) and then another immediate right.

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Project Life Line and Credit Card Debt

Miriam Bernstein,Westchester County Real Estate (RE/MAX Prime Properties) — Tue, 12 Feb 2008 06:15:06 -0600

Six banks, Countrywide, Wells Fargo, Bank of America, Citigroup, Washington Mutual will announce a new program today called Project Life Line. This program is to help homeowners who are seriously delinguent on their sub-prime mortgage payments, at least 90 days delinquent.

This program will be announced by the US Treasury and the Housing Department. These banks have agreed to give homeowners 30 extra days to negotiate a new payment schedule. These banks also state that they have helped 545,000 in the last six months. This is the 2nd effort by banks and governmen to try to keep people in their homes. These Banks will modify loan terms.

But reported in the New York Times today is a report that the defaults go beyond mortgages and the sub-prime problem. There is a general weakening throughout the economy with credit card company's creating additional problems. While interest rates have dropped the interest being paid on credit card debt has not dropped and in fact yesterday it was reported that the banks are trying to make up for lost income on mortgages with higher interest rates on credit card debt.

The problem as reported by the New York Times this morning, click here.

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Coyotes Spotted in White Plains, New York

Miriam Bernstein,Westchester County Real Estate (RE/MAX Prime Properties) — Thu, 29 May 2008 05:38:28 -0500

Several months ago I posted this information about Coyotes in Westchester County. Last night a reader, Laurie, posted a comment that she has spotted two Coyotes near the German School in White Plains, which is amazing. So I am repostng this information and the links for your information,

In the Estate area of Hartsdale, New York there is a street that is a dead end that backs up to one of the local golf courses. Walking my dog this morning I ran into one my neighbors who lives in one of these houses. She tells me that looking out her window she sees a pack of coyotes running around the golf course. Hartsdale, New York in case you are not local is a Hamlet within the Town of Greenburgh that is a 30 minute train into New York City. This particular street is 5 minutes from Central Avenue which is a major shopping area. Coyotes? Yup.You would think we were in the mid west. So, this neighbor continues her story. On the golf course there is a German Shepard who must belong to a local homeowner who is letting this dog out. The baby coyotes look very much like this German Shepard! The owner of this shepard I am sure has not a clue what is going on.

Throughout Westchester County and New York State and even in New York City coyotes can now be found. The Cornell University Co-Operative is doing a study of the behaviours of coyotes. Some things to know.

Don't leave food, even bird seed out in the back yard it attracts coyotes.
Don't leave small dogs in the back yard, a coyote was reported to have jumped over a four foot fence, grabbed a small dog, and jumped back over the fence
Don't walk at night without a long stick or perhaps an umbrella in case you are approached by a coyote.

About Coyotes from the New York Times

The New York State Department of Environmental Conservation has recommendations about what to do if you see coyotes, who to contact and how to avoid their visiting your home.

Department of Environmental Conservation

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Cab Calloway Used to Live in Hartsdale, New York

Miriam Bernstein,Westchester County Real Estate (RE/MAX Prime Properties) — Thu, 25 Sep 2008 20:24:13 -0500

Cab Calloway lived in Greenburgh, New York on Knollwood Road. His daughter and family are trying to repurchase the familyhome and turn it into a museum. In case you don't know who Cab Calloway is here is a segment from Wikipedia and a You Tube clip of him performing. From the Journal News today:

"The family sold the Greenburgh home after Calloway died in 1994 and has since begun a fundraising campaign to reacquire and renovate it. Calloway's daughter, Ceceila Lael Calloway, will hold a small gathering for friends and family with live music there Sunday to raise money for the Cab Calloway Music, Arts, and Cultural Preservation Foundation"

Cabell "Cab" Calloway III (December 25, 1907 – November 18, 1994) was a famous American jazz singer and bandleader. Calloway was a master of energetic scat singing and led one of the United States' most popular African American big bands from the start of the 1930s through the late 1940s. Calloway's Orchestra featured performers that included trumpeters Dizzy Gillespie and Adolphus "Doc" Cheatham, saxophonists Ben Webster and Leon "Chu" Berry, New Orleans guitar ace Danny Barker, and bassist Milt Hinton. Calloway continued to perform until his death in 1994 at the age of 86.

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North Castle (Armonk), Bedford, New Castle and Donald Trump

Miriam Bernstein,Westchester County Real Estate (RE/MAX Prime Properties) — Thu, 31 Jul 2008 11:35:21 -0500

In 1995 Donald Trump purchased 213 acres of land in the north eastern quadrant of Westchester County. This land spans three different towns, North Castle, New Castle and Bedford, New York. The name of the property is Seven Springs and it cost him $7.5 million at the time. This property belonged to Eugene Meyer, a Washington Post Editor who was the father of Katherine Graham.

Originally Trump planned an 18 hold golf course but residents of the area were not happy and so the plans changed to 15 new homes being built and two existing properties being renovated, 9 in North Castle and 8 in Bedford.

The Town of North Castle is comprised of the hamlets of North White Plains, Armonk and Banksville and is home to the Byram Hills School District. The hamlet of Armonk is small and quaint with restaurants and other small shops. This area is home to the Headquarters of IBM so taxes are not as high as other areas in Westchester County. You are 15 minutes to the Town of Greenwich and world class shopping as well as 15 minutes to the Village of Mt. Kisco and about 20 minutes down Interstate 684 to White Plains.

One of the issues with Mr. Trump's proposal is that his land sits next to Byram Lake which is the main source of water for the town of Mt. Kisco. Conservationists and residents was to keep the property clean, and there is a web site that addresses specificially the issues surrounding this, The Open Space Advocate.

While his plans in North Castle are in the courts Mr. Trump has been in the local papers for the past couple of days with a new proposal to build 7 homes in the Town of Bedford each 15,000-20,000 sq ft. The development would have a stable for 20 horses with training and riding areas.

Keep this in mind when you read all those news reports about the current market and remember that housing and market information is always local. What applies in one area has nothing to do with another.

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No, Thanks There Are Lots of Other Agents, Please Call Them.

Miriam Bernstein,Westchester County Real Estate (RE/MAX Prime Properties) — Sun, 24 Aug 2008 10:23:26 -0500

I received a referral from an agent out of the area this week. The agent says they are a "rent with an option to buy" client of his and can I please speak to them. Sure. So I call the client (Lucy for purposes of this post)and we have the following discussion:

Lucy: Hi

Me: Hi

Lucy: I have had a terrible time, my fiance has been commuting and it is too time consuming and costly so we need to move closer to his job. I LOVE where I live now but we have to move.

Me: You said you are having a hard time?

Lucy: Yes, I have gone out and seen properties with several agents and they are showing me junk.

Me: Lucy, if you have been going with many agents I probably can't help you but I wish you luck.

Lucy: Wait, I want to go see apts with you, I am finding that each agent interprests what I say differntly and shows me different properties. I want such and such. We might buy but would rather rent for a couple of years and then buy.

Me: Ok Lucy. I am really not interested in getting involved with someone who is jumping around using many agents. Starting at the beginning if you want to "rent with an option to buy" have you been to the banks and gotten a pre-approval?

Lucy: Oh, let's just make this a straight rental.

I am finding that potential tenants believe if they say that it is a rent with an option they get to see better properties and attract the attention of more experienced agents. They will say whatever it takes. If Lucy wants to find a rental she would put herself in a better position working with one agent and helping them understand what she is looking for. That agent will spend the time to work with her, research properties for her, call her back, if they believe that they will earn a commission and end up renting her a property. Jumping from agent to agent tells an agent that they are spending their time and effort for possibly nothing, wasting their time.

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A New Mortgage Law in New York State

Miriam Bernstein,Westchester County Real Estate (RE/MAX Prime Properties) — Sat, 05 Jul 2008 05:17:44 -0500

Now Mortgage Brokers are expected to predict future income of borrowers and must be careful not to discriminate against certain groups by not offering certain loans that could be a problem. From the New York Times:

"The legislation, which was passed by the New York Legislature in June and is expected to be signed by Gov. David A. Paterson, aims to curb the current surge in foreclosures, but it also includes provisions meant to prevent borrowers from taking out loans they cannot repay.

Among other things, it says that brokers have a "duty of care" to offer appropriate loans to subprime borrowers - those with poor credit."

Mr. Tricozzi of the the state mortgage brokers group says that he would just lie to the consumer to avoid any problems. Isn't this how we got where we are now?

"In some cases, I might say I don't have a lender that supplies a certain subprime program," said Mr. Tricozzi of the state mortgage brokers group, "even though, in reality, I do."

Mortgage Brokers as Naysayers

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Access for Brokers to Show Your Home

Miriam Bernstein,Westchester County Real Estate (RE/MAX Prime Properties) — Mon, 25 Aug 2008 05:54:56 -0500

If you are thinking of selling your home you will have a discussion with your Agent about how to provide access for showings. The easier you make it for buyer's to see your home the more showings you will get.

In Westchester County our Multiple Listing Service uses the Sentrilock System. Each member of the MLS has a card that is about the size of a credit card. We have to "renew" this card every three days through a card reader. The showings are recorded on this card which is encoded and when we renew it on the interenet it records which properties we have accessed.

You and your agent wil know at all times who has been in your house, it is recorded. Appointments need to be made prior to showings. There are some agents who belong to our MLS and may be from another area so they don't have a "Sentricard". These agents have to call the listing agent for special instructions on how to access the property. At all times we need to verify that the individuals calling for access are indeed licensed with the New York Department of State.

There Sentrilock boxes hang on fences, front doors and I have even seen them hanging up a tree because a homeowner felt more comfortable that this box not be in plain view from the street.

When I call to make an appointment at a property the last thing I want to hear is that there is no lockbox and I need to pick up a key. I know that for some homeowners the thought of a lockbox is uncomfortable but truthfully when there is no lockbox I can't always show the house. Sometimes my buyer is pressed for time and I can't make it to your listing agents office to pick up a key and return it after the showing - too time consuming.

Easy access equals more showings which in turn equals more offers.

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