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Trulia: Inland asking prices up 14% | Bedford NY Homes

The Trulia monitor on real estate asking prices and rent for San Bernardino and Riverside counties had enough lift to put the Inland region in the “rebounding” column — right along with Phoenix, Las Vegas and Detroit.

Jed Kolko, chief economist for San Francisco-based Trulia, said asking prices are up 14 percent year-over-over in January for Inland Southern California, and rents rose 4.6 percent. “Asking prices in the Inland region have been increasing up year-over-year every month since July,” Kolko said.

Trulia says 'new low price' toppers on real estate signs are fallign to the wayside

Trulia says ‘new low price’ toppers have fallen to the wayside with asking prices on the rise.

Trulia’s percentage change in asking prices, on average, rose 5.9 percent; excluding foreclosures, prices rose 6.5 percent.

Out of 100 metropolitan regions, 86 reported year-over-year gains.

“Strong job growth, low vacancy rate and low foreclosure inventory — not huge price gains — are signs of a healthy housing market,” he said, but dramatic price gains can mask serious red flags. “Without strong underlying market fundamentals, price rebounds might be here today, but gone tomorrow.”

With the region still grappling with its share of unemployment, slow job growth and foreclosure-related actions, Kolko said Inland Southern California’s big price increases are offset by those weaker market fundamentals.

The Inland area’s housing market ranked 83 out of 100 on the list of healthiest housing markets.

Which cities are at the top in a category Trulia described as booming?

That would be San Francisco, Seattle, Denver, San Jose and Salt Lake City. Houston, Boston, Raleigh and Dallas are in the category Trulia labeled as “humming.”

Westchester NY MLS Reports Price Decreases Since 2011 | Bedford Realtor

Westchester NY MLS Reports Price Decreases Since 2011 |  Bedford Realtor

‘For the year as a whole, every county reported price decreases since 2011.  

The median sale price of a Westchester single family house was $587,000, 2% lower than in 2011.  
The comparable price in Purtnam was $300,000 or 8% below 2011.  

On the west side of the Hudson, Rockland’s single family house median was $380,000, a 3% decrease.  

And Orange posted a $240,000 median, down 4%.  

Only in the fourth quarter were some increases reported:  Westchester’s fourth quarter median was $547,000, an increase of 4% over 2011; and Rockland also posted a 4% increase, to $363,000.’

Armonk NY Leads Bedford and Katonah in 2012 Sales Price/foot | RobReportBlog

Armonk NY Leads Bedford and Katonah in 2012 Sales Price/foot | RobReportBlog

2012 Average Sold Price per Foot
$328.00   Armonk
$290.00   Chappaqua
$262.00   Pound Ridge
$224.00   North Salem
$322.00   Bedford NY
$232.00   South Salem
$288.00   Bedford Hills
$256.00   Mount Kisco
$303.00   Katonah

Appraisers Warn: Bad Neighbors Can be Very Costly | Bedford NY Real Estate

Bad neighbors with annoying pets, unkempt yards, unpleasant odors, loud music, dangerous trees and limbs, or poorly maintained exteriors can cost homeowners big time.

The Appraisal Institute today cautioned homeowners and potential homebuyers that bad neighbors can significantly reduce nearby property values.

The Institute advised owners and buyers to walk streets neighboring a property on several days at various times to learn more about what is happening in the neighborhood. A home’s proximity to a bad neighbor also can impact the rate of potential decline in value.

“I’ve seen many situations where external factors, such as living near a bad neighbor, can lower home values by more than 5 to 10 percent,” said Appraisal Institute President Richard L. Borges II, MAI, SRA. “Homeowners should be aware of what is going on in their neighborhood and how others’ bad behaviors could affect their home’s value.”

Appraisers refer to this as “external obsolescence,” which is depreciation caused by external factors not on the property. External obsolescence may be caused by economic or locational factors, and may be temporary or permanent, but it is not curable by the owner, landlord or tenant.