April 15, 2015 rummy

Every seller wants to get the best price for their house. We learned in high school that the best price for any item will be determined by the demand for that item relative to the supply of that item. We have reported that the inventory of houses for sale is well below normal numbers. There is historical evidence that the demand for housing is about to increase dramatically. Each year, more homes sell in May, June, July and August than any other four months of the year. Here is a graph of homes sales last year by month: Bottom Line…

April 8, 2015 rummy

Yonkers, NY Named One of Livability.com’s Top 10 Healthiest Cities, 2015 Inaugural list identifies and ranks America’s healthiest cities         There are two parts to every great healthy city. The first is access to quality and affordable health care. The second is promoting and enabling a healthy lifestyle for its residents through infrastructure and amenities. With this in mind, Livability.com has named Yonkers a Top 10 Healthiest City, 2015. Yonkers provides residents with exercise opportunities, good food choices and strong support networks to help live healthy lives.   Our editors looked at data compiled by the County Healthcare Rankings as…

April 1, 2015 rummy

Happy Home in the Bronx   We spend a huge portion of our lives at work. Even if you only work the traditional 40 hours in a week, you’re still spending nearly 1/3 of your life at work. This can be a scary fact for some to face. But if, with the right conditions, you derive a sense of joy from your work, feel a sense of connection, and believe that you create a positive impact on some portion of the world (however small) through your work then work becomes much more than just a paycheck….

March 17, 2015 rummy

A recent Demand Institute report revealed “nearly half of all American households plan to move at some point in the future.” Seventy-five percent of those surveyed in the report cited one or more ‘location-related reasons’ for their eagerness to move. Here are the top 5 reasons: 1. Safer Neighborhood – 30% 2. Closer to Family – 27% 3. Change of Climate – 26% 4. Closer to Work – 25% 5. For a New Job – 23% While the majority of Americans (74%) will move within their home state, for the 26% planning to call a new state home, it is…

March 4, 2015 rummy

A Westchester town took top honors in a well-known real estate website’s recent 10 Best Places To Live in New York list. Movoto.com — a real estate website known for its catchy, algorithm-based top 10 lists — ranked Mamaroneck as the best town in New York state to live in. In addition, Westchester towns made up 9 of the top 10 spots on the real estate website’s list. Steve Altieri, Mamaroneck town administrator, said that Mamaroneck’s diverse population, community volunteerism, and coastal location were among the town’s finer points. “Mamaroneck is a coastal community, only 35 minutes from New York…

February 12, 2015 rummy

Over the last six years, homeownership has lost some of its allure as a financial investment. As homeowners suffered through the housing bust, more and more began to question whether owning a home was truly a good way to build wealth. Every three years the Federal Reserve conducts a Survey of Consumer Finances in which they collect data across all economic and social groups. Some of the findings revealed in their report: §The average American family has a net worth of $81,200 §Of that net worth, 61.4% ($49,856) of it is in home equity §A homeowner’s net worth is over 36 times…

February 4, 2015 rummy

As a seller, you will be most concerned about ‘short term price’ – where home values are headed over the next six months. As either a first time or repeat buyer, you must not be concerned only about price but also about the ‘long term cost’ of the home. Let us explain. There are many factors that influence the ‘cost’ of a home. Two of the major ones are the home’s appreciation over time, and the interest rate at which a buyer can borrow the funds necessary to purchase their home. The rate at which these two factors can change…

January 19, 2015 rummy

Now that the housing market has stabilized, more and more homeowners are considering moving up to the home they have always dreamed of. In most areas, prices are still below those of a few years ago. Also, interest rates are still near 4%. However, sellers should realize that waiting to make the move while mortgage rates are increasing probably doesn’t make sense. As rates increase, the price of the house you can buy will decrease. Here is a chart detailing this point:   www.NYREEX.com  

January 15, 2015 rummy

“Just one small tenant problem avoided can be priceless!” 1. Don’t negotiate your rental price or terms before meeting and screening the prospective tenant. It’s something we’ve all done at one time or another and have lived to regret it. In the vast majority of instances, the tenant who starts negotiating on your rental before even seeing it, is very rarely qualified financially to rent from you. Often, landlords may allow the tenant prospect to negotiate during the viewing of the rental. The tenant may criticize the property and point out improvements he or she wants done if they were…