Tag Archives: Bedford Corners NY
Competition Drives Down Foreclosure Discounts | Bedford Corners NY Real Estate
The national average discount on foreclosures has shrunk by 1.4 percentage points over the past year as competition for foreclosures as inventories tighten is driving prices closer to full-price properties.
Homebuyers nationwide in September could expect a discount of 7.7 percent when buying a bank-owned property (REO) versus the same home in a non-distressed sale, according to a new Zillow analysis.
The discount narrowed from 9.1 percent during the same month last year and has fallen dramatically from a peak national discount of 23.7 percent in August 2009. Zillow compared the actual sale price of foreclosed homes nationwide to the estimated price of the same home were it to sell in a non-distressed transaction.
While foreclosure sales continue to offer buyers discounts over traditional sales in the majority of metro areas, some of the areas hardest hit by foreclosures are also those where the price gap between foreclosed and non-foreclosed homes is the smallest. Areas with the smallest foreclosure discounts in September were Phoenix (0 percent), Las Vegas (0 percent), Sacramento, Calif. (0.7 percent) and Riverside, Calif. (1.8 percent), Zillow found.
“The smallest foreclosure discount is found in places where competition for homes is so high, people there are willing to pay the same amount for a foreclosure re-sale that they would for a non-distressed home simply to take advantage of historic affordability,” said Zillow Chief Economist Dr. Stan Humphries. “Additionally, in areas such as Phoenix and Las Vegas, where not long ago one out of every two homes sold was a foreclosure re-sale, buying a foreclosure is no longer just for investors.”
Metro areas with the biggest foreclosure discounts include Pittsburgh (27.4 percent), Cleveland (25.8 percent), Cincinnati (20.2 percent) and Baltimore (20 percent).
Year-over-year foreclosure discounts fell in roughly three-quarters (76.9 percent) of metro areas analyzed, and all metros are down from their peak. Nationwide, foreclosure discounts reached their height in 2008 and 2009, and in some areas peaked at more than 30 percent.
As recently as the second quarter of this year, RealtyTrac reported that the national average price of bank-owned properties was 32 percent lower than the average price of a non-foreclosure home, a slight improvement from a 30 percent discount in the first quarter and also a 30 percent discount in the second quarter of 2011.
One reason for the great difference is the way the two organizations calculate the discount rate is calculated. Zillow’s discount rate is the result of comparing the sale price of a foreclosure to the estimated, non-distressed sale price of the same home. Other reports like RealtyTrac compare the median sale price of all foreclosures sold in a given period with the median sale price of all non-foreclosures sold in the same period.
5 Smart Moves a First-Time Buyer Should Consider | Bedford Corners NY Real Estate
As a first-time real estate buyer, you probably have no idea how the overall purchasing process works or how to make sure you’re making a smart decision to purchase. And you’ll probably be very surprised to learn how much work it really is just to buy a home. To get you started in the right direction, and this is just a start, here are a few tips that you should consider.
Get lender-qualified and find a good real estate agent
To start off, you should get qualified by a lender to see what price range you can realistically afford and interview some real estate agents to find the right person to represent you in your transaction.
Once you’re qualified and have your price range estimate in hand, you’ll be able to spend your time shopping in neighborhoods that you can afford. But remember: Just because the bank says you can qualify for a certain amount, that doesn’t mean you should spend that amount. Make sure you can actually afford the monthly payment, along with all your other bills.
For real estate sales professionals, you should get referrals for a full-time agent or broker who sells at least five or more properties per year and is well-educated on the process and location where you plan to live. You should call references, check that the agent’s state sales license is up to date and interview them to make sure you’ll be comfortable working with them.
Make sure you plan to be a long-term owner
Once you know your price range and have looked at some properties, it’s time to make sure that you believe you can find a property that you will own for a minimum of five years. If your price range doesn’t match where you want to live, you’d be better off staying a renter and saving some additional money until you can afford where you want to live. This is because an owner really doesn’t earn any equity, on average, in a property for at least five years. That’s the general breakeven point, and you really need to shoot for longer than that as an ownership strategy. The truth is, long-term real estate ownership can be a great way to earn wealth, but short-term ownership usually will diminish your wealth.
Educate yourself
Buying property is probably the most complex, riskiest and expensive thing you will ever do. Do your homework: Talk to real estate owners, go to first-time buyer seminars, check out online material and read some books to learn what to avoid in the buying process. The more you educate yourself, the better the chances that when things go wrong — and they will go wrong — they will only be minor issues, not major headaches.
Find a nice affordable property
The real gems in real estate are the nice, decent shape, moderately priced, boring houses, town homes and condominiums that are within your budget. Most buyers stretch to purchase the most expensive property they can afford. What if you lose your job? How about saving some of your money for retirement? You want your home to be an asset you can afford, not a liability that leaves you with no additional funds over the cost of homeownership. Also, skip the fixers, prize properties or anything that sounds too good to be true: Those always end up having issues, and owners realize, after the fact, that the deal they thought they were getting really was just too good to be true!
Take your time
Realistically it should take you six months or longer to buy a nice quality property that will add to your long-term wealth. Make sure you have a full understanding of what the marketplace has to offer in your price range and that you know what you’re doing.
Those are a few tips to get you started in the right direction. Real estate is buyer beware, so try to make sure you’re one of the buyers who is “aware” of how to make quality wealth-building real estate decisions. Down the road you’ll pat yourself on the back when things work out well.
Diane Sawyer’s Zany Election Performance Inspires ‘Drunk Diane’ Twitter Account | Bedford Corners NY Homes
Election night is like no other for on-air journalists. It’s what Christmas is like to Santa Claus, Flag Day is for Betsy Ross, Super Bowl for football players.
It’s a non-stop night of filler coverage, while pundits and political reporters stare as maps slowly change from gray to blue and red. It can be enthralling for us at home, but for those in the studio, it’s a little bit of a (nationally broadcast, live) mess.
So no one can blame Diane Sawyer if she needed a little liquid courage to help her with the nerves of the night (or just help keep the night moving along). OK, so we don’t actually know if Sawyer had been drinking, and ABC reps told The Daily Mail she was “exhausted” from having to cover Hurricane Sandy in the days prior, but nonetheless, the anchor was a sight to see.
Sawyer was slurring words, going off on tangents, propping herself animatedly on her desk with her arms and even asking for music cues.
“I wanna — can we have our music, because this is another big one here?” Sawyer said, going on to call President Obama, “Orama.”
Before long, the tweets started rolling in, making Diane’s alleged drinking a trending topic. A parody account was even opened — @DrnkDianeSawyer — with hundreds of followers before the election results were even announced.
99 bottles of beer on the wall 99 bottles of beer
hey guys wh o won i fell aslee?p
Turns out even the office had a chuckle at the tweets and rumors.
“Rumors that Miss Sawyer had been a tad tipsy had been met with ‘a lot of laughter’ around the office,” according to a source The Daily Mail was in touch with.
But Sawyer’s “drinking” was the least of ABC’s struggles throughout the night; its studio in Times Square lost power for 20 minutes during the broadcast.
The network tried to avoid any hitches by simply shifting Sawyer and her co-anchor George Stephanopoulos to a different area and used shots of the people crowding into Times Square to distract the viewers.
Sawyer herself thanked the ABC team for quickly dealing with the situation and even gamely acknowledged the tweets from the previous night.
Awe for the @abc powerhouse team. Hail the techs who kept us on air…
…during 25 minute power outage. Read your tweets the good, bad, and the funny. See you on @abcworldnews.
Thumbnail image courtesy of Flickr, david_shankbone.
SEO for Bloggers With Soul | Bedford Corners NY Realtor
Maybe you consider yourself a serious writer who doesn’t have time for the details of how to boost SEO.
Why should you bother with that when you’ve launched a blog to help people and make the world a better place? Every post you write is packed with valuable information and compelling content. For you, that’s most important, and it should be.
However, it’s hard to change the world if you can’t reach the world, and SEO increases the chances that readers will discover this life changing blog of yours.
You still might think SEO is mostly fake and contrived and not worthy of a serious writer’s attention and time. You might view SEO as a spammer’s bag of tricks, even with Google’s efforts to make it harder to manipulate the system.
I understand that you’re a truly passionate blogger who wants to distance yourself from the kind of malignant marketing that clogs your spam folder. But there’s more to it.
Basic SEO practices are also good blogging and writing practices. More than just helping your site show up in a search engine, SEO can help improve a blog’s focus, readability, and value.
Here’s how it happens naturally.
Focus keywords: passion and niche
Keyword usage is possibly the number one strategy for bloggers, likely because it’s one of the simplest. But keywords have gotten a reputation for destroying perfectly good writing by making it annoyingly repetitive. That’s because spam writers pack keywords into every sentence, thinking it makes a difference.
Instead, the only keywords you need to focus on are passion and niche. Your blogging niche is probably your passion.
Of course those two terms won’t be your actual keywords. Instead, your keywords are the names of the category/sub-category that your niche falls under. For example, your niche and therefore your keywords might be rooftop gardening, comic book collections, or backswing.
This is far from contrived, and you’re probably already using these words because they’re the subject of your blog. It’s actually what your site is about and what your posts are about from any number of angles. The majority of your posts, therefore, and your titles, should naturally include these words on a fairly consistent basis.
If readers can’t tell what your blog is about, they probably won’t come back. If it’s clear that your blog is all about rooftop gardening, then rooftop gardeners will keep returning for more information. Otherwise, they’ll think you’re some sort of generalist blogger who once wrote about rooftop gardening on a whim.
So it’s bigger than keywords. It’s about the focus of your blog.
Still concerned about the quality of the writing? SEO can help improve the reading experience of your posts.
Titles and language: be direct
Honest, soulful, non-spam blogging is all about the readers, isn’t it?
Beginning with the title, SEO reminds you to tell readers exactly what to expect from an article. They shouldn’t have to read hundreds of words only to realize your post won’t give them what they’re looking for. Readers are busier than ever and they literally have a million other things they could be giving attention to. If you don’t respect your readers’ attention, they may never bother to read your work again.
It’s only fair that you don’t waste their time with misleading, ambiguous titles or introductory paragraphs that dance around the subject. More than likely, they won’t even click the link if the title is bad and isn’t somehow informative. You can still keep intrigue and shock, but the topic should always be clear and specific.
Another value of being SEO minded is that it reminds you to write in a clear, conversational tone. As the saying goes, “Never use a big word when a diminutive one would suffice.”
This is more than search engine friendliness. Conversational language helps you connect with your audience and convey those brilliant ideas to the broadest, possible range of people.
Before you could ever think about the “how” of language, I’m sure you determine the “what.” What’s the value in everything you’re doing, and how does SEO help you improve that value?
Length and links: offer valuable content
When I’m grading student papers, I can estimate how well-developed or under developed the papers are by looking at the word count. Word count factors into the quality of writing because many students make strong claims, but they fail to support illustrate, or expound on those ideas.
For instance, students would probably say they can sum up this entire post in one sentence.
I can too: SEO can help improve a blog’s focus, readability, and value.
But if I had just stopped there, would you be convinced? Would you really walk away with a renewed perspective on SEO if I had left it at that?
That’s where elaboration comes in. Make a wonderful claim, and then tell readers how to apply it or how it relates to them.
Readers like posts that are packed with insight and helpful information. Being vague and general won’t give them that. Write it plainly, but also write it completely.
Include links wherever they’re truly relevant. Give readers the opportunity to continue learning beyond the single post they’re reading.
All of this is in line with your noble mission, not contrary to it.
SEO with soul
Unfortunately, a system put in place to measure the value of sites so that Google could deliver the best value to its users has been hacked by people trying to make a quick buck. But like any form of technology, a few people who abuse the system don’t make the system inherently worthless. Like Facebook, Twitter, and television, it’s about how you chose to use the tool, and the kind of value you bring to it.
If you’re a regular at ProBlogger, you’re probably someone who uses technology for legitimate, even charitable purposes. Your good intentions should lead you to an honest use of SEO. I call it SEO with soul.
So I urge you not to let the spammers keep you away from a great thing. Take back SEO, and show the world how to do it right.
Listingbook now managing leads for brokers | Bedford Corners Real Estate
Listingbook LLC announced the release today of its Broker Lead Incubation Service (BLIS), a tool for brokers that manages their “cold” leads, cultivates them and then hands them over when they’re close to being transaction-ready.
The system, a slow-drip, outsourced marketing tool, is built to convert leads, even old ones, into hot prospects, according to Listingbook.
BLIS, Listingbook’s first service developed for brokers, works by a broker first providing leads to Listingbook, which creates a broker-branded version of its client-management system. Then Listingbook emails leads to sign up with the system, giving them access to the multiple listing service-sourced, broker-branded home search powered by Listingbook.
Screen shot of broker-branded Listingbook home search.
Listingbook then sends daily morning reports to the “cold” leads in a broker’s BLIS system and its staff answers their preliminary questions. When a prospect is ready to act, the broker is contacted and can choose which agent to handle it.
“Ask any broker what their biggest challenge is with online buyers and sellers and they’ll likely say, ‘We waste a ton of money on advertising to generate leads, of which 98 percent aren’t even close to entering a transaction anytime soon,'” said Randall Kaplan, CEO of Listingbook, in a statement. BLIS was built to address this challenge, he said.
Screen shot of the BLIS-powered lead cultivation system in action.
“Listingbook’s (BLIS) is great because it is like having an extra employee or two working for us, following up with Internet buyers and sellers,” said Laura Paperner, director of e-commerce for Prudential Alliance Realtors, which beta-tested the service.
“The Listingbook technology automatically updates prospects with information on homes for sale, price changes and open houses — and when they are ready for more information they simply contact our Listingbook rep, who in turn contacts us,” Paperner said in a statement.
In September, Listingbook added seven MLSs to its Listingbook AI system, where MLS data becomes available to homebuyers on Listingbook. The addition brought the nationwide total to 77, which, collectively, represent more than 60 percent of real estate agents nationwide.
Homeowners could save thousands on deductibles after Sandy | Bedford Corners Realtor
Housing prices picked up in August | Bedford Corners NY Real Estate
Housing prices rose in August as inventory continued to shrink across the nation, anther sign that the sector’s recovery is gathering steam.
Prices were up 0.7 percent on a seasonally adjusted basis in August, while the 0.2 percent July increase was revised downward to 0.1 percent, the Federal Housing Finance Agency reported Tuesday night, accidentally sent out ahead of Wednesday’s scheduled release.
Prices are up 4.7 percent in the past year. The index is 15.9 percent below its April 2007 peak and is about the same as the June 2004 level.
For the nine census divisions, monthly price changes in August ranged from a drop of 0.5 percent in the East South Central division to an increase of 3 percent in the Pacific.
The housing sector is on the mend and there is greater confidence that after years of struggles, the market has turned the corner.
Despite the housing sector’s primary role in the financial crisis and its drag on the recovery, neither President Obama nor Republican hopeful Mitt Romney has seized on the issue.
Obama hit on the topic a couple of times in the past week, calling on Congress to pass a bill that would provide homeowners who are under water on their mortgages an easier path to refinancing into lower-rate mortgages.
The Senate is scheduled to take up a bill when Congress returns after the election.
Rising prices, improved consumer and builder confidence, a four-year high in housing construction and historically low mortgage rates are bolstering the market’s gradual recovery.
However, the market still faces significant hurdles from continued fiscal uncertainties, lack of credit for builders and potential homebuyers, inaccurate appraisals and the number of seriously delinquent mortgages still in the system.
Beware of inspection advice in snow country | Bedford Corners NY Homes
DEAR BARRY: I bought a second home in the mountains to use as a ski lodge and summer getaway. It has a flat roof, so I asked my home inspector if that would be OK in snow country. He assured me it was more than capable of draining and holding the snow.
After we moved in, there was a big snowstorm. The roof sagged, ice formed over the roof drains, and we had major leakage and interior wall damage. My homeowners insurance covered the interior damage but not replacement of the faulty roof.
The home inspector has insurance for errors and omissions, but the insurer denied my claim, saying the inspector could not have known the roof would leak. If the insurance companies won’t cover the faulty roof, what recourse do I have? –John
DEAR JOHN: The purpose of a roof inspection is not simply to determine if a roof will leak. There are many roof issues that warrant attention regardless of whether there is leakage. Among these are conditions that involve potential leakage or inadequate construction, such as a flat roof in snow country. That is where your home inspector took a wrong turn.
A home inspector, like the licensed ones as shown on Gutterilla`s website, who is truly qualified would not give carte blanche approval to a flat roof where snow is involved. According to experts from roofscapesdfw.com/services/roofing/mesquite/ home inspectors, unless they are licensed structural engineers, are not qualified to determine whether a roof structure is capable of withstanding snow loads. Your inspector should have indicated that this condition was questionable and should have recommended further evaluation by a structural engineer and a licensed roofing contractor.
What’s more, the inspector’s insurance company is wrong in acquitting the inspector. Yes, he could not have known the roof would leak, but he definitely should have known that this was a compromised condition that warranted further evaluation by qualified experts.
You should have an attorney write a forceful letter to the insurance company and to the inspector.
DEAR BARRY: We recently sold our townhome to a couple who rented it back to us while our house was being built. Prior to the sale, they did several walk-throughs, including a home inspection, and we fixed everything they asked for.
Now that we’ve moved out, they are holding our security deposit because of defects they say were not disclosed. These include some carpet stains, a door that rubs against the jamb, a kitchen drawer that sometimes comes off the track, and unpainted walls in the closets. Are these things that should have been included in our disclosure statement, or are they being unreasonable? –Tammy
DEAR TAMMY: Sellers are supposed to disclose all known defects, but when you live in a home, it is easy to become so used to minor defects, such as a rubbing door or a faulty drawer, that they don’t come to mind when filling out a disclosure statement. Reasonable buyers don’t make issues about typical wear-and-tear conditions and minor defects such as these. But you may have to give in since they are holding your deposit.
A handyman is not likely to charge very much to plane a door and adjust a drawer. Likewise, carpet cleaning is not that expensive. They should be embarrassed, however, to make an issue over unpainted closets.
Douglas Kennedy, RFK son, on trial in child endangerment case | Bedford Corners Realtor
The trial for a son of the late Sen. Robert F. Kennedy, accused in a maternity ward scuffle, began on Monday in Westchester County, New York.
Douglas Kennedy is charged with physical harassment and child endangerment, both misdemeanors. On Jan. 7, Kennedy allegedly tried to take his 2-day-old son from the maternity ward at Northern Westchester Hospital.
Nurses tried to stop him and two claimed he injured them. One nurse said Kennedy twisted her arm and the other said he kicked her in the pelvis. Security officers eventually stopped Kennedy from leaving the hospital.
In opening statements, according to the Associated Press, the defense argued that a nurse overreacted to Kennedy’s attempt to get some fresh air for his son. The prosecution maintains Kennedy violated hospital policy when he tried to move the child.





