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Westchester County Real Estate Updates And Info Pertaining to Buying Or Selling A Home/House
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Smart grid and connected homes. The development of custom and Web-based display panels that show real-time home energy use, broken out by individual appliance will increasingly drive consumer behavior.
Energy labeling for homes and office buildings. Accurate energy rating systems for homes and office spaces will make it easier for home owners and buyers to compare and could galvanize owners to make needed energy improvements.
Building information modeling software. The increasing sophistication and lowered cost of CAD software with more accurate algorithms for energy modeling will encourage greater use.
Financial community buy-in to green building. Lenders and insurers will get behind green building because it’s good for their bottom lines.
"Rightsizing" of homes. A larger home no longer translates into greater equity.
Eco-districts. The creation of walkable, low-impact communities in the suburban setting is gaining steam.
Water conservation. The Environmental Protection Agency finalized the voluntary WaterSense specification for new homes in December of 2009, which reduces water use by about 20 percent compared to a conventional new home. Water will be the essential resource in the next decade.
Carbon Calculation. With buildings contributing roughly half the carbon emissions in the environment, the progressive elements in the building industry are looking at ways to document, measure, and reduce greenhouse gas creation in building materials and processes. This effort will be heightened once a federal cap-and-trade mechanism is launched in this country.
Net Zero Buildings. A net zero building is a building that generates more energy than it uses over the course of a year, as a result of relatively small size, extreme efficiencies and onsite renewable energy sources. We are close to being able to do this routinely.
Sustainable building education. This will create opportunities for professionals involved in the building industry, from real estate to finance and insurance.
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Many may not realize this but child identity theft is one of the fastest growing forms of fraud in the US. According to the Federal Trade Commission almost 5% of all identity theft cases in the US target children. Believe it or not approximately 54% of these cases target children under six. Shocked? So am I, here’s why it happens....
The main reason children are targeted is their credit is a clean slate. Once a thief gets access to the Childs name and social security number they can then apply for credit. They add a phony address and other needed information and it's as easy as that. Once the thief is granted credit the accounts are cultivated long enough to establish higher limits. They make purchases and then disappear leaving a mucky future for the child. Unfortunately this usually goes unnoticed until the child is old enough to apply for credit and come to find out they have a long history of bad credit.
Here are the red flags to watch out for:
1) Medical, dental, and hospital records
2) Youth organizations, such as boy scouts and girl scouts
3) Info accessible To volunteers
4) Registering for daycare, sports teams, and schools
5) Internet thief posing on internet conning people for their sensitive information
6) Receiving solicitations for credit cards and other financial offers for your child
Keep in mind, any information that is not stored by secure entity is at risk.
If you feel your child is at risk you can setup a monitoring system for them. You will get an alert any time their info comes up. You can also purchase a credit report two to three times a year until the child turns eighteen, then they entitled to a free report each year. Unfortunately we need to think about these things in today’s world. It's better to be safe then sorry and always expect the unexpected!
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If you haven't had the pleasure of taking a stroll down Purchase St. In Rye NY you may want to save the dates of December 3rd and 10th. The town and Chamber of Commerce are sponsoring an evening stroll through the quaint shops that make many flock to Rye. Most stores will be open until 10pm and there will be wine, cheese, and good music! Some stores will host special trunk shows on these nights. Visit this link to find out everything you need and want to know about Rye.... http://www.city-data.com/city/Rye-New-York.html
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When the time for a final walkthrough inspection of the home you're purchasing arrives, most will welcome assistance! This inspection should not be confused with an engineer home inspection which is conducted right after offer acceptance. Below is a checklist of items to be checked by you and your Westchester County Buyers Agent.
General
1) Have all agreed upon repairs been completed?
2) Have the sellers removed any items that are supposed to stay in the home?
3) Is the home clean and/or broom swept?
4) Are there any signs of new damage to walls, floors, etc?
5) Do all light fixtures work?
6) If an agreed upon fixture was removed is there at least a "contractor grade" replacement?
7) Does every outlet have power?
8) Are there any leaking pipes, faucets, or toilets?
9) Do all The toilets flush?
10) Does the garage door opener work?
11) Do the locks work?
12) Do all the appliances work?
13) If new construction, are all the agreed upon finishing touches in?
HVAC
1) Test the furnace and air conditioning system...please note that a central air compressor cannot be tested in the freezing cold weather. Please consult an HVAC expert for more info.
2) Check to make sure vents aren't blocked?
The final walkthrough process is a fairly casual one and should be conducted the night before or hours before the closing. If there are any issues that need to be addressed your Buyers Agent can approach the Listing Agent and arrange to have the items either credited or negotiated. In my experience everything can be worked out as long as both parties are open minded. Now enjoy the Real Estate you have purchased and will now call home!
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Tax Credit for Homebuyers First-Time Homebuyers (FTHBs): First-time homebuyers (that is, people who have not owned a home within the last three years) may be eligible for the tax credit. The credit for FTHBs is 10% of the purchase price of the home, with a maximum available credit of $8,000. Single taxpayers and married couples filing a joint return may qualify for the full tax credit amount. Current Owners: The tax credit program now gives those who already own a residence some additional reasons to move to a new home. This incentive comes in the form of a tax credit of up to $6,500 for qualified purchasers who have owned and occupied a primary residence for a period of five consecutive years during the last eight years. Single taxpayers and married couples filing a joint return may qualify for the full tax credit amount. What are the New Deadlines? In order to qualify for the credit, all contracts need to be in effect no later than April 30, 2010 and close no later than June 30, 2010. Tax Credit Versus Tax Deduction It’s important to remember that the tax credit is just that… a tax credit. The benefit of a tax credit is that it’s a dollar-for-dollar tax reduction, rather than a reduction in a tax liability that would only save you $1,000 to $1,500 when all was said and done. So, if a first-time homebuyer were to owe $8,000 in income taxes and would qualify for a tax credit of $8,000, she would owe nothing. Better still, the tax credit is refundable, which means the homebuyer can receive a check for the credit if he or she has little income tax liability. For example, if a first-time homebuyer is eligible for a tax credit of $8,000 but is liable for $4,000 in income tax, she can still receive a check for the remaining $4,000! Higher Income Caps The amount of income someone can earn and qualify for the full amount of the credit has been increased. Single tax filers who earn up to $125,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, single filers who earn $145,000 and above are ineligible Joint filers who earn up to $225,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, joint filers who earn $245,000 and above are ineligible. Maximum Purchase Price Qualifying buyers may purchase a property with a maximum sale price of $800,000. Remember, the new tax credit program includes a number of details and qualifications. For more information or answers to specific questions, please call or email me today. In addition, you may be able to benefit from additional housing related provisions, including the following: Tax Incentives to Spur Energy Savings and Green Jobs This provision is designed to help promote energy-efficient investments in homes by extending and expanding tax credits through 2010 for purchases such as new furnaces, energy-efficient windows and doors, or insulation. Landmark Energy Savings This provision provides $5 Billion for energy efficient improvements for more than one million modest-income homes through weatherization. According to some estimates, this can help modest-income families save an average of $350 a year on heating and air conditioning bills. Repairing Public Housing and Making Key Energy Efficiency Retrofits To HUD-Assisted Housing This provision provides a total of $6.3 Billion for increasing energy efficiency in federally supported housing programs. Specifically, it establishes a new program to upgrade HUD-sponsored low-income housing (for elderly, disabled, and Section 8) to increase energy efficiency, including new insulation, windows, and frames.
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New Jersey, New York Tops in Tax Bills
The highest property tax bills in the country are in New York and New Jersey, according to the Tax Foundation’s analysis of data from the U.S. Census Bureau.
The Tax Foundation analyzes counties and includes taxes levied by school districts and other taxing authorities. The national median property tax is $1,854.
The counties with the highest median property tax for owner-occupied properties are:
1. Westchester County, N.Y., $8,404
2. Hunterdon County, N.J., $8,347
3. Nassau County, N.Y., $8,306
4. Bergen County, N.J., $7,997
5. Rockland County, N.Y., $7,798
6. Essex County, N.J., $7,676 (tie)
6. Somerset County, N.J., $7,676 (tie)
8. Morris County, N.J., $7,310
9. Passaic County, N.J., $7,095
10. Union County, N.J., $7,058
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Senators agreed Wednesday to extend a popular tax credit for first-time homebuyers and to offer a reduced credit to some repeat buyers. The tax credit provides up to $8,000 to first-time homebuyers but is set to expire at the end of November. Senators agreed to extend the existing tax credit for first-time homebuyers while offering a reduced credit of up to $6,500 to repeat buyers who have owned their current homes for at least five years, said Regan Lachapelle, a spokeswoman for Senate Majority Leader Harry Reid, D-Nev. The tax credits would be available to homebuyers who sign sales agreements by the end of April. They would have until the end of June to close on their new homes, said a congressional aide, who spoke on condition of anonymity because he was not authorized to publicly discuss the deal. Senators were still negotiating the expansion of a separate tax credit that lets money-losing businesses get refunds for taxes paid in previous years, providing them with an immediate source of cash. Senators in both political parties were hoping to add both tax provisions to a bill that would give people running out of unemployment insurance benefits up to 20 more weeks of federal aid. The Senate could vote on the overall bill as early as Thursday, but lawmakers were still haggling over several unrelated amendments Wednesday evening.
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While the area’s residential real estate market has struggled in recessionary mode all year long, there has nevertheless been a steady improvement in the sales rate over the past nine months. Realtor participants of the Westchester-Putnam Multiple Listing Service, Inc. reported a total of 1,898 closings of Westchester residential real estate transactions in July through September, a level that was 9.7% less than last year’s third quarter closings, but that was considerably improved over the second and first quarter sales volumes which were off by 30.7% and 36.6%, respectively, from the prior year.
On a seasonally adjusted basis1, the third quarter Westchester closings were equivalent to an annual sales rate of 6,170 units, an increase of 30.7% over the prior quarter, constituting a very large bounce-back from the barely 4,000-unit level posted in the first three months of the year.
Putnam County’s performance, though not as vigorous as Westchester’s, also showed improvement in the third quarter. The 186 posted closings were 18.1% fewer than last year’s, whereas the first quarter closings were down by 30.5%.
Third quarter single family median2 sales prices, $630,000 in Westchester and $330,000 in Putnam, were below last year’s levels by 11% and 12% respectively, constituting a modest recovery from the second quarter when median prices were running 16% and 19% below last year’s levels. Most of the price decrease since the start of the recession has been attributable to across-the-board market depreciation from lack of demand but part of it also results from a pronounced fall-off in high-end sales.
In 2008 and earlier, million-dollar-plus sales accounted for as much as 25% or more of all transactions. That percentage abruptly fell to 13% in the first quarter of 2009; it increased to 17% in the second quarter and to 20% in the third quarter but still falls short of its former high levels.
The condominium and cooperative sectors fared better as to prices. The $362,000 median sale price of a Westchester condominium was 8.6% less than last year’s. The co-op median of $170,500 was 9.2% lower than last year’s. The median sale price of Multi-family (2-4 unit) houses was $399,500, retaking its place from condominiums in the second quarter as the second most expensive housing type in Westchester.
Notwithstanding the continuing sluggish pace of sales in the region, there has been no buildup of actively marketed inventory. The end-of-quarter supply of single family houses in Westchester barely changed at all from the third quarter of 2008 to 2009. Total inventory of all property types actually decreased by 5.4%.
In Putnam County the total inventory decreased by 7.6%. The number of units now on the market is not much different than in 2007 before the looming recession became truly apparent.
The third quarter closings in Westchester and Putnam Counties largely followed upon marketing activity that occurred in the late spring and summer months, a period that produced mostly positive economic indicators favorable to real estate. Mortgage interest rates, which had reached a short-term peak of about 6% on 30-year conventional loans in mid-June, subsided thereafter to a range of 5.6-5.8%.
Except for a brief dip in early July, the equity markets exhibited sustained growth from May through August; the Dow Jones Industrial Average crossed the 9,000 mark in late July. The most serious negative indicator during this period was, and remains, a Westchester and regional unemployment rate around 7.5%. Conservative lending practices also continue to put a brake on the market.
On a nine-month basis, Westchester County’s sales volume of 3,975 units was 24.1% less than in 2008, and a hurtful 43.3% less than in 2007. The second and especially the third quarter results, however, are trending to a steady improvement in sales volumes. Further, there is a slight suggestion in the data that overall prices are at or close to bottom, and that the high-end segment of the market is inching its way back to a larger market share though probably not its former prominence.
These factors, together with the restrained local inventory, suggest that there exists pent-up demand to complement pent up desire to sell – a real estate market in the remaking if only the larger economic environment would cooperate.
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Please join myself and fellow Rotarians at our annual pancake breakfast. This year we will be hosting at the Mt Kisco Holiday Inn Saturday November 7, 2009 from 8:30am-11:30am. All proceeds will benefit the Mt Kisco Boys & Girls Club and Mt Kisco Rotary. Ticketprices are as follow: Adults $7.00, Senior $5.00, And Child $3.50. Rotarys "Service Above Self" motto allows us to think of others first and raise money for various local charities, events, and scholarships. If you would like to know more specifics about what we do or would like to join a local chapter please contact me so we can talk. Hope to see you at the breakfast!
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Fall is upon us and the foliage is one of the things I enjoy most about the season. Below are five trailways worth traveling if you enjoy it as much as I do!
1) Rockwood Hall, Sleepy Hollow NY - This spot is absolutely beautiful, peaceful, and scenic. It is accessible by public transportation (off Route 9). One of the highlights is the amazing views of the Palisades.
2) North County Trailway, Croton NY - This site offers the only view over the Croton Reservoir and is accessible by bike. Go south on route 118 out to the railroad brodge over the Croton Reservoir ( which is handicapped accessible). You can also pick up the trail from Route 134.
3) Lakeside Trail At Teatown Reservation, Ossining NY - This site offers many scenic views on the trail over the lake.
4) Camp Smith Trail, Peekskill NY - These views are billed as the best in Westchester County. It is also very romantic, many couples have gotten engaged here! It is accessible from the Toll House Visitors Center on Route 6/202. Or you can reach it by the Appalachian Trail just north of the Bear Mountain Bridge.
5) Silver Lake Preserves White Trail, Harrison NY - This is a little park that was once the site of American Revolutionary War activity.
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| Christopher Pagli | Legends Realty Group | 914.406.9023 |
34 Gordon Ave, Sleepy Hollow, NY | Welcome To The Perfect Starter Home On A Tree Lined Street! |
| 3BR/1BA Single Family House | | offered at $349,000 | | Year Built | 1927 | | Sq Footage | 1,344 | | Bedrooms | 3 | | Bathrooms | 1 full, 0 partial | | Floors | 2 | | Parking | 1 Car garage | | Lot Size | .08 acres | | HOA/Maint | $0 per month |
DESCRIPTION
Welcome To The Perfect Starter Home On A Tree Lined Street! Enter To A Bright And Airy Sun Porch, A Living Room W/ Fireplace, Formal Dining Room, Pine Flooring Throughout, Kitchen, And Door To The Patio. Continue To The Second Level For Three Bedrooms, A New Full Bath, And Plenty Of Attic Storage. The Basement Is Full And Unfinished Complete With A Door To The Garage, Laundry Hook Ups, And Plenty Of Storage. The Exterior Consists Of A One Car Garage W/Terrace Above, A Lovely Patio, Tiered Backyard, And Privacy. Commuters Will Love The Short Walk To All! |
| | | see additional photos below |
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| PROPERTY FEATURES
| - Fireplace | - Hardwood floor | - Living room | | - Dining room | - Stove/Oven | - Attic | | - Basement | - Laundry area - inside | - Balcony, Deck, or Patio | | - Yard | | |
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| ADDITIONAL PHOTOS
 Front Of Home |  Living Room |  Dining Room |  Master Bedroom |  New Bathroom |  Patio Leading To Backyard |
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| Contact info: |  | Christopher Pagli | Legends Realty Group | 914.406.9023 | For sale by agent/broker |
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Posted: Oct 20, 2009, 7:32am PDT |
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What is Twitter you ask? Twitter is a social networking site that allows people to follow your updates. It is very important for you to determine your ultimate goal with the site before beginning. I choose to use it for work purposes. I post useful articles and stories pertaining to Real Estate along with the occasional recipes, cool gadgets, etc. Below are the 5 steps to begin Twittering:
1) Go to Twitter.com and setup your account. It's pretty basic, just setup a username/email and password.
2) Read the basic guidelines at http://Help.Twitter.Com, this will save you alot of time and headaches in the long run. Many people avoid because they don't understand. This may become a valuable tool for you, give it a shot!
3) Once your account is created you will then get a home page and profile. Fill it out your profile and then you can start searching for friends and topics of interest. If you choose to follow someone you will be able to see their updates, if they follow you they will see yours.
4) Decide who you want to follow. Start with people you already know by using Twitters directory. You can also browse http://www.Twellow.com. This site sorts people by industry. You can also register yourself here as well.
5) Decide what content you want to post. You can observe others before posting. It's kind of like watching from the sidelines until you are comfirtable jumping in the pool. This can also be used as the first step.
These are just the very basic beginning steps. As you become comfortable with the site you can get creative and take advantage of the many tools that come with it.
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Parkview, White Plains - Announcing a rent/lease reduction on 5H-21 Lake Street, a 1,007 sq. ft., 1 bath, 2 bdrm single story. Now  MLS® $2,000 USD Monthly - $2,000 Per Month. Property information
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| Christopher Pagli | Legends Realty Group | 914.406.9023 |
21 Lake St #5H, White Plains, NY | Tastefully Updated Unit Centrally Located To All The Wonderful Amenities White Plains Has To Offer |
| 2BR/1.5BA Condo | | offered at $359,000 | | Year Built | 1988 | | Sq Footage | 1,007 | | Bedrooms | 2 | | Bathrooms | 1 full, 1 partial | | Floors | 1 | | Parking | Unspecified | | Lot Size | Unspecified | | HOA/Maint | $409 per month |
DESCRIPTION
This Tastefully Updated Unit Is Centrally Located To All Of The Wonderful Amenities The New White Plains Has To Offer. Enter To A Spacious Foyer and Updated Powder Room, Open Kitchen W/ Door To The Washer Dryer, Dining Area/Living Room, Pergo Floors Throughout The Main Living Area And Second Bedroom, A Generous Master BR, And An Updated Full Bath Complete With A Jetted Tub! Other Amenities Include A Balcony Overlooking A Park, Doorman, Deeded Garage Prkg, Video Phone Entry, And Verizon FIOS.
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| | | see additional photos below |
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| PROPERTY FEATURES
| - Hardwood floor | - Living room | - Refrigerator | | - Stove/Oven | - Microwave | - Washer | | - Dryer | - Laundry area - inside | - Balcony, Deck, or Patio | | - Jacuzzi/Whirlpool | | |
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OTHER SPECIAL FEATURES
| - Doorman | | - Verizon FIOS In Unit | | - Video Phone Entry System | | - Wet Bar | | - Close To Bus, Railroad, Shops, School, And Parks |
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| ADDITIONAL PHOTOS
 Front Of Building |  Kitchen - Door to Laundry |  Updated Powder Room |  Dining Area/Living Room |  Master Bedroom |  2nd Bedroom - Balcony |
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| Contact info: | | Christopher Pagli | Legends Realty Group | 914.406.9023 | For sale by agent/broker |
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Posted: Oct 9, 2009, 2:19pm PDT |
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Westchester County is rich with historic sites and special events. Below is a short list of some of our historic sites that you will want to experience this fall. 1) Kykuit - The Rockefeller Estate - This site is conveniently located in Sleepy Hollow (and diagonally across from my office, stop in and say hi!). This paradise was home to 4 generations of the Rockefeller family. You won't believe the amazing views of the hudson, classic autos,architecture, gardens, art, and scenery. Visiting is open from May 9 - November 8 (closed Tuesdays and Nov 2-5). To order tickets visit http://www.hudsonvalley.org. 2) Philipsburg Manor - Sleepy Hollow, NY - In 1750 Philipsburg Manor was bustling with activity, from milling to trading. You can learn about the work of a miller and tour the manor house, where period artifacts and touchable reproductions bring to life the stories of the Manor and the enslaved community. Visiting is open from April 1 - November 1. You Can order tickets from http://www.HudsonValley.org. Legends Night is a very special event October 17-18, 24-25, lit by candles and bonfires the Legend Of Sleepy Hollow is brought to life! You don't want to miss this, advance tickets are required. Legends Daytime tours October 17-18, 24-25, this is a celebration of pumpkin carving, spooky storytelling, open-hearth cooking, colonial games, and tons more!
3) Washington Irving's Sunnyside - Tarrytown, NY - This picturesque estate was created by America's founding father of literature. Come hear about his past and how he came to be America's first internationally famous author. He is well known for creating the Headless Horseman and Rip Van Winkle. Visiting is open from April 1 - November 1. In December you can experience the candlelight tours, visit http://www.HudsonValley.org for tickets and more info. Candlelight tours are December 12, 19, and 26, 4pm-8pm
4) Van Cortlandt Manor - Croton-On-Hudson - Come explore the stone manor house, wander through the heritage gardens, or walk down a country road along the Croton River. The Manor is home to many colonial and federal furnishings. You can participate in many hands on tasks to get the full experience of the Patriot Family. The Great Jack-O-Lantern Blaze is a special event held the following evenings in October: 3-4, 10-12, 16-18, 22-25, and 28-Nov 1. This event gets bigger and bigger every year, be sure to order tickets now! Candlelight tours are December 12, 19, and 26. To order tickets visit http://www.HudsonValley.Org.
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