Tag Archives: Bedford NY Real Estate

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Offer now or forever hold your peace | Bedford NY Real Estate

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Redfin revealed its list of the nation’s fastest real estate markets and, not surprisingly, Dallas was fourth on the list.

To establish what is considered a ‘fast real estate market,’ Redfin defined it as having the most homes going under contract in 24 hours or less.

All I can think when I read this is, ‘thank goodness I don’t live in Phoenix.’

Being in the ‘Dallas market,’ I can attest to the rapid-fire approach buyers are being forced to take when showing serious interest in a home.

Last night at 8 p.m., my husband and I got an alert from our Redfin mobile app letting us know a home went on the market in our price range. Within 30 minutes, my husband and I had driven by the house, approved of the neighborhood and texted our Realtor to see if we could take a look today.

Since the home had everything on our checklist, we all decided it would be smart to move quickly and see the home during our lunch break.

By the time we got there at noon, three other interested potential buyers had toured the home (which didn’t even have a for sale sign up yet, by the way).

As I suspected, we loved the home. Being first-time homebuyers, my husband and I want to be sure we are giving enough attention to detail and would love to have our parents come take a look and give us some honest advice.

However, as we left the property at 1 p.m., our Realtor strongly advised we get an offer in before 5 p.m. or risk having another offer accepted before we even have a chance to put one in.

So that’s where I am right now. I am putting in an offer shortly on this property and hoping for the best. That is the market we are in. There is no time to stop and breathe, let alone get to take a second look at a property before putting an offer in.

As our Realtor said today, the shift has happened. This is a sellers’ market. The buyer no longer has the upper hand in this fast paced, high demand market.

via housingwire.com

Bedford Schools Announce Budget | Bedford Real Estate

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Dear Bedford Central School District Parents, Guardians, and Community:

I presented the preliminary budget to the Board of Education Wednesday night.  The budget supports our comprehensive program for the learning and engagement of every Bedford Central Student – yes, every day.  The preliminary budget represents a 1.25% budget to budget increase and is under the tax levy cap of 3.37%.  Highlights of the budget presentation are in the release below. 

Mrs. Susan Elion Wollin, President of Bedford’s Board of Education, noted that school districts do not have the local autonomy that they used to have.   As Bedford’s Board President, and Vice President of Westchester Putnam School Board’s Association who is active on their Legislative Committee, Mrs. Wollin explained several aspects of State regulations and areas of needed mandate relief that are out of local school districts’ control and must be addressed in Albany.   She noted that pension contributions are the largest of the major budget drivers over which the district has no control. 

I will present more information to our PTA and PTO Presidents and other citizens about these regulatory and legislative concerns over the next few weeks. 

I hope you will take a moment to review the budget presentation on the District’s website athttp://www.bcsdny.org/files/filesystem/March%2013%202013%20Budget%20presentaion%20to%20BOE.pdf  (or go to www.bcsdny.org  and click on Budget Development).   The Board meeting can be viewed on BCSD Video On Demand http://bedfordcsdtv.pegcentral.com/index.php  

Thank you.

Jere Hochman

Superintendent of Schools

Reminder:  April 1 and May 3 are school days for all schools

via trulia.com

Psychoanalyzing Sellers | Bedford NY Real Estate

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How real estate has changed in just a few months!  For six years, real estate professionals have struggled to get buyers back into the market with advertising campaigns, incentives, and the willingness to suffer social abuse for proclaiming the housing depression to be a great time to buy a home.

Yet despite the lowest mortgage rates since the Jurassic Age, home values so low that one out of four owners went upside down on their mortgages and $27 billion worth of tax credits, most buyers still missed the price bottom.

Now, suddenly, it’s the seller’s turn.  Every forecaster from Mark Zandi to Donald Trump says the worst is over and real estate markets will continue to heal and improve.  Buyers’ markets are turning into seller’s markets this year, driven by inventories of homes for sale are at record lows.  In fact, tight inventories are a problem.  There are so few houses listed that in many markets sales falling short because there’s nothing to buy.

Yet something’s not working.  Over the past two years, as mortgage rate dropped lower than they have been since the Depression, one of the great certainties of real estate has failed us.  Mortgage rates by themselves cannot motivate enough buyers to enter the market if they are not already inclined to do so.  Now we are learning another hard lesson.  Improving prices will not move sellers off dead center unless they have other, more compelling reasons to sell.

Today the greatest challenge facing real estate is not foreclosures, subprime loans, access to financing, threats to the mortgage interest deduction or FSBOs.  The greatest threat is inventory…we don’t have enough of it.

Dreams Delayed, Dreams Abandoned

From 2007 to 2012, potential sellers were held captive in their homes by low prices.  For one of my clients, Realtor.com, we conducted a major national survey in the spring of 2009 to look at this situation.  We found that nearly one out of five homeowners had delayed selling their home because of the real estate crash.  Empty nesters rattled around the family home they couldn’t sell. Young families piled kids in bunk beds and finished the basement because they couldn’t move.  Grandma and grandpa moved into the room above the garage.

via realestateeconomywatch.com

Differences between jumbos, conforming loans evaporate | Bedford NY Real Estate

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Now that jumbo loan rates are making a comeback, the differences between a jumbo loan and a conforming loan are beginning to disappear, especially when looking at the rate, CNBC said.

Conforming loans are mostly backed by Fannie Mae and Freddie Mac and are valued up to $417,000. However, some can be as high as $625,500. A jumbo loan is anything above that amount, CNBC stated.

via housingwire.com

What ‘distributed everything’ means for real estate | Bedford NY Real Estate

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Distribution is a trend we’d all better get used to. Distributed computing, distributed manufacturing, distributed power generation — it seems that everything that can be distributed will.

It isn’t the same old-school put-stuff-in-trucks kind of distribution. Actual productive activities are being distributed.

Technologies like 3-D printing distribute the manufacture of goods much closer to the places where they will actually be used.

Distributed power generation — via wind, solar or microturbines — is producing electricity much closer to where it is actually used.

via inman.com