Thanks to Hurricane Sandy’s impact on the East Coast and the increase in home prices due to a lack of inventory supply, October saw an increase in existing-home sales.
October existing-home sales rose 2.1% to a seasonally adjusted annual rate of 4.79 million, compared to 4.69 million in September. Also, existing-home sales are 10.9% above the 4.32 million-units from last year, according to the National Association of Realtors.
Overall, the national median existing-home price was $176,800 in October, an 11.1% increase from a year ago, which marks the eighth consecutive month of year-over-year increases.
“Home sales continue to trend up and most October transactions were completed by the time the storm hit, but the growing demand with limited inventory is pressuring home prices in much of the country,” said Lawrence Yun, chief economist with NAR. “We expect an impact on Northeastern home sales in the coming months from a pause and delays in storm-impacted regions.”
Distressed homes, including foreclosures and short sales, represented 24% of all October sales, unchanged from September and down 28% from last year.
Foreclosures generally sold at a 20% discount while short sales sold 14% under market value in October.
The country’s total existing inventory fell 1.4% in October to 2.14 million homes, which reflects a 5.4-month supply. This is down 5.6 months from September, which is the lowest housing supply since 2006. Today’s inventory level is 21.9% below year ago levels when the nation carried a 7.6-month supply.
“Even with rising home prices, we’ll continue to see favorable housing affordability conditions over the coming year, but they won’t last forever,” said Gary Thomas, president of NAR. “Inflationary pressures are expected to build during the next two years.”
He added, “As a result, mortgage interest rates will also rise with inflation. Buyers who are currently held back by tight mortgage credit standards should work to improve their credit scores so they’ll be able to qualify for a mortgage while conditions are still favorable.”
Homes continue to spend less time on the market, with the median listing now running 71 days, down from 96 days in October of 2011.
“Our view is that housing is in a recovery phase, but one that will be restrained by the availability of credit, the pace of improvement in labor market conditions, and the overhang from distressed and foreclosed properties,” said analysts at Barclays Capital.
Tag Archives: Bedford NY Schools
Mauricio Umansky is most often recognized as the husband of Kyle Richards of “The Real Housewives of Beverly Hills.” | Bedford Real Estate
His full-time job is in real estate, but Mauricio Umansky is most often recognized as the husband of Kyle Richards of “The Real Housewives of Beverly Hills.” The CEO and co-founder of luxury Los Angeles brokerage The Agency, Umansky has his hands full with balancing a successful real estate business, his family and of course, his appearances on TV.
We asked Umansky a few questions before Monday’s premiere of the third season of “RHOBH.”
Zillow: How do you balance reality TV with your real estate business?
Umansky: It’s less about balancing reality TV and my work and more about balancing my family life with The Agency. Whether I’m at work or with the family, I give 110 percent and focus on what I’m doing at that given time. I’m fortunate to have an amazing wife — Kyle helps me keep it all together. My biggest challenge is finding the time to be just with the kids.
Zillow: Has the show helped your real estate business?
Umansky: Before the show ever started, I was already one of the top producers in the country. However, a major component of selling real estate is marketing. I think the show has been beneficial, since it has brought more of a spotlight to me and The Agency, which, in turn, allows us to draw more attention to our listings.
Zillow: Will there be more visibility to your business this year? I understand Kyle has a shop next door to your office.
Umansky: It’s possible. We now both have offices in Beverly Hills. Kyle recently opened KYLE by Alene Too, a retail shop on the corner of Bedford and Brighton, of which I am very proud.
Zillow: How “real” is reality TV? You’ve mentioned before that your wife is so much funnier than the show gives her credit for.
Umansky: I think reality TV is very real, especially our show. It is completely unscripted. And yes, my wife is hilarious. She makes me and the family laugh all the time. I’m not sure that is captured completely on the show, but there are a lot of things that aren’t completely revealed.
Zillow: You just sold Adrienne Maloof’s home. How was that with the timing of the show?
Umansky: The sale of Adrienne’s house was an unfortunate situation. Both Paul and Adrienne are friends of mine, and selling a home of friends getting divorced is never easy. I try and keep it professional, and I try and accomplish my job as quickly and efficiently as possible.
Zillow: How was starting your own brokerage through all this? What are the best parts — and what are the most challenging parts?
Umansky: Amazing! I must say that not only do I have great partners, but we are blessed with a team of highly-skilled, successful agents and incredibly talented people working together toward one common goal – to represent our clients with the highest degree of attention, professionalism and service.
We embarked on a mission to create a brokerage firm with a progressive, definitive culture, and I think we have succeeded in this, although this will always remain a challenge.
Town of Bedford NY Sandy Update | Bedford NY Real Estate
Thursday, 11/8 – 1:30pm
The Town of Bedford lifts its State of Emergency as of Noon today, November 8th. Click here to read the order:http://www.bedfordny.info/html/pdf/town_clerk/2012%20State%20of%20Emergency%20Resind%20Order.pdfDry ice and bottle water is available in front of the Town House.ConEd is distributing dry ice at 200 Business Park Drive from Noon until 5pm today. ConEd representatives will be available to answer any questions you may have.
Day warming shelters and charging stations continue to be available at the libraries and fire houses in Bedford, Bedford Hills and Katonah.
Readers Digest (Chappaqua Crossings) is open as an overnight Emergency Shelter and have hot meals. Contact Vince Russell, Director, 845-825-7395.
NYSEG and ConEdison continue Sandy recovery efforts. Both NYSEG and ConEd report 300+ residents without power in the Town. NYSEG is reporting full restoration 11/8 by 11pm and ConEd reporting 11/9 by 11pm.
If either utility company shows your power as restored on their website, you must report the outage to your utility company: NYSEG 800-572-1131 / Con Edison 800-752-6633.
If you have a generator and are using it quite a bit, you will need to change the oil. Generators have an oil change schedule usually of every 100 hours of use to prevent engine damage or failure. Please visitwww.bedfordny.gov click on “What’s New” for information regarding the prevention of carbon monoxide poisoning.
The Town will be removing storm debris and leaf pickup, please click here for details: http://www.bedfordny.info/html/whats-new.html
FEMA will be opening a Disaster Recovery Center at the Westchester County Center 11/8 at 3PM for individuals and businesses to file claims and apply for eligible aid.
The 11/8 Conservation Board meeting has been rescheduled to 11/15 at 7:30pm and will be held in the 2nd floor conference room at 425 Cherry Street, Bedford Hills.
Snow Blankets Bedford, Delays Schools – Bedford Patch | Bedford Real Estate for Sale
Residents are waking up to chilly temperatures and over six inches of snow from a Nor’easter that snarled last night’s commute, causing accidents and rendering many local roads a parking lot.
Katonah-Lewisboro and Bedford Central schools announced they would be operating on a two-hour delay on Thursday. The delay also affects Rippowam-Cisqua Schools, which will open at 10:30 a.m. and The Harvey School, which is closed, due to a power outage, according to their websites.
Bedford police said as of 5 a.m. Thursday highway crews were plowing local roads but all were clear except for a downed tree blocking Maple Ave in Katonah.
Drivers should use caution on local highways as some snow and ice conditions are reported on I-684 between exits 10 and 4, according to the Hudson Valey Traveler.
In addition, accidents are being cleared on the Sprain Brook Parkway in Mt. Pleasant and the Taconic Parkway north of 134.
Police said last night several accidents were cleared off local roads; locals reported treacherous commutes on Bedford-Katonah Patch’s Facebook page, citing two-hour drives from Armonk to Katonah and a car fire on Route 35 that slowed east-bound traffic to a stop.
“It took over three hours to get from I-287 up I-684 to exit 4,” said Jessica Welt-Betensky. “Roads seem completely unplowed and some people are trying to drive on the shoulder.”
The National Weather Service forecasts a wintry mix of rain, snow, and sleet before 9 a.m. this morning, with some snow blowing and a possible accumulation of up to another half-inch today. Tonight’s temperatures dip into the high 20s with Friday likely bringing some meltoff when temperatures rise into the low 50s.
NYSEG said it had prepared for additional outages from the winter storm but as of Thursday morning, outages were down to 1,292 in Westchester County, from a reported 2,700 at 6:30 p.m. Wednesday night.
If you experienced a power outage during the snow storm, call NYSEG at 800-572-1131 or Con Edison at 800-752-6633.
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Bounce Rates High? Why? | Bedford NY Real Estate
Most bloggers I know want to reduce their bounce rates. Sometimes it can seem as if it doesn’t matter what the bounce rate for a page actually is, we want it to be lower!
While it’s a stretch to expect we’ll hit a zero bounce rate, for most bloggers, it is worth looking at your bounce rates regularly, and trying to find ways to reduce them where appropriate.
While blogging’s about people—not just numbers—bounce rates can give you hints about the ways individuals are using your blog, and where you can help them out. In this post, I’d like to explain that in a bit more detail.
What is a bounce?
You undoubtedly know what a bounce is—a user who lands on our page from an external source, then leaves our blog without looking at any other pages. It’s a “single pageview” usage of our site.
But what does a bounce mean?
- Did the reader get what they came for, and leave?
- Were they disappointed by what they saw on your blog page?
- Did they arrive at the page expecting to see something else?
- Is the content current and compelling—and clearly so?
- Is it clear from a single glance at the page what your blog is, does, and delivers?
- Are there clear paths from that page to other actions or information that are likely to meet the needs of target users?
- Are the bouncers regular readers who check out all your posts, so each time they just come to the latest one, read it, and go again>
Understanding the possible reasons for the bounce is an important step in doing something to reduce the bounce rate itself. Let’s look at a case study from ProBlogger to see exactly how the diagnosis of reasons for a high bounce rate can go.
The bounces, and the page
On a usual trawl through the site’s stats one month, I spotted this:
These stats were for a single month. As you can see, this page attracted some good views, and almost 95% of them were from new visitors! But the bounce rate was really high, the time on site low, and the average visit duration? Terrible!
My first thought was to visit the page itself. It didn’t take me long to find a few issues—let’s step through some of the main ones I found (note that I’ve updated the post since, so these items have been addressed on the live page):
- The opening dated the article. This piece has a publication date of 2008, but even if the new visitors didn’t see that, the opening, which would have been fine at that time, was written when I was a Twitter newbie—not ideal these days!
- This problem was amplified by the outdated Twitter follower number I’d quoted. I mentioned in the post that I had 5500 followers; now that number’s over 160,000.
- I’d included a link to Twitip in the opening. This immediately pulled readers through to one of my other sites, which doesn’t generate any income. While the content had been valuable, that site’s a bit dated now, due to a lack of regular updates. It certainly seemed smarter to try to keep these new visitors on problogger.com a bit longer, rather than syphon them off to Twitip.
- Much of the content in the article itself was dated.
- The post didn’t provide many links to other great articles we have on topics like Twitter, Facebook, Pinterest, and other social networks, and social network engagement strategies, here at ProBlogger—simply because that information wasn’t available back in 2008 when I’d written the post.
Yep, this page was pretty outdated! But I bet most sites that have been around for a while will probably have a page or two that are in a similar state.
Sources of bouncing traffic
Okay, so I knew I had a problem with the content of the page—and there were plenty of opportunities to improve it. But in order to make the right improvements—improvements that would give me the best chance of reducing that bounce rate by actually meeting individuals’ expectations—I wanted to know what the users were expecting to see when they came to the page. What needs did they have?
So I took a look at the traffic sources for the page:
This was interesting. For any blog that gets a lot of its new traffic from search engines, you might expect the main traffic source to be Google. And when I first looked at the page in question, I’d imagined that most of the traffic to this page was coming from search and being pulled to Twitip. In fact, the traffic was coming from Twitip.
Understanding how the page is being used
Now I was getting a pretty clear idea of how this page was being used, and why the bounce rate was so high.
Twitip users were following a link from that site to this article. The second paragraph of the post was directing them right back to Twitip. In that case, would they feel that ProBlogger was more of an authority on Twitter than Twitip? Not likely. No wonder the bounce rate was so high!
But, as expected, Google was also among the top three referrers, and that traffic had a bounce rate of more than 90%.
Beyond content
Knowing that this page was being visited mainly by new users, it was worth looking beyond the content itself, to the page’s layout, branding, and design.
This page is laid out in the same way as the others on my blog, many of which—even if they mainly attract new users—don’t have such high bounce rates. This suggests that the layout probably isn’t the problem.
Now, the major call to action—the main point of engagement and interaction—on my blog’s content pages is to comment. Comments had long since closed on this post, so users may have struggled to find their way to other relevant content on the site at the post’s end. I’d included a Further Reading list there, but the articles were no longer current.
Yet, given how outdated the post was, and the tiny average visit duration, I guessed the visitors I was getting probably weren’t making it that far through the post anyway.
Understanding your bounces
As you can see, a little sleuthing can go a long way in helping you to understand the reasons for high bounce rates.
I try not to be thrown into a panic by the numbers alone. When I look a little deeper, I usually hit on more information that can help you take action on the bounces—if indeed that’s what you want.
In the case of this page, we made some tweaks to bring the content up to date an try to draw search traffic more deeply into the site.
But the reality for the high bounce rate from Twitip users is this: Twitip targets a different audience from ProBlogger. While it’s not unlikely that bloggers will read Twitip, that site is at once far more focused (Twitter tips only!) than this one, and more broad (it targets anyone who wants to use Twitter better—which could include casual, social users of the network, right through to online marketers in corporate environments).
So while ProBlogger contains Twitter tips, to try to convert traffic from Twitip into readers of this blog is probably a bit of a challenge. The two audiences want different things. While it was definitely worthwhile updating the ProBlogger post, the Twitip audience, on the whole, probably isn’t going to be interested in what we’re doing over here.
And that’s an important thing to realise: not all bounces are bad, and not all need addressing. Many do and will, and they’re the ones you’re better to spend your time trying to fix. But you won’t be able to work out which ones they are unless you take a few minutes to dig into the facts behind the bounces in the first place—to think about the individual users behind the numbers.
What do you do about your blog’s bounce rates? Have you been able to lower bounce rates through any specific tactics? I’d love to hear your tips in the comments.
Real estate’s a natural for content marketing | Bedford NY Real Estate
Editor’s note: The following guest perspective is published with permission of 1000Watt Consulting. See the original post, “The broker as publisher.”
By JESSICA SWESEY
We hear a lot about “content marketing” these days. It’s the new black.
In reality, it’s the same stuff great marketing has always consisted of but with a new name. Anyone who’s dabbled in social media is already doing content marketing to some extent.
But something about the term content can be intimidating. It should be. Creating things your audience looks forward to, enjoys and shares with others is tough, sweat-inducing work.
It’s important, though. And worth a second look after the initial knee-jerk reaction many companies have: “We’re not a publisher, we’re a __________.”
Jessica SweseyThink of this: Red Bull is not a publisher. Neither is Whole Foods, Nike or BMW. Yet each of these brands has gone “all in” with content, resulting in some of the most creative, buzz-worthy marketing out there today. (Click the links to see a content example from each of the brands.)
Why would a car company bother making a documentary? To further brand recognition, establish brand personality, authenticity and ultimately, to be shared on the Web.
Something to share
According to data The Atlantic recently cited in an article about the history of social behavior on the Web, 69 percent of social referrals on many media sites came from places like email and IM. By comparison, 20 percent came from Facebook.
Content is still being shared significantly more outside of Facebook than it is within Facebook.
So not only is content king, it’s the social queen.
The only way to optimize your efforts in attracting that large portion of sharing that happens outside of Facebook is to create great content. In other words, it’s not just about posting to Facebook and Twitter throughout the day, it’s about creating fantastic, unique content that you can share there and more importantly can be shared well beyond the walls of the social network.
Two simple ideas
I’m bullish on content for real estate companies. In an industry plagued with consumer skepticism and reputation problems, a sound approach to content can help create authenticity and authority. It’s a grueling path that, when taken, can lead to consumer trust, social sharing, and business.
While I’d love to see some heavy-hitting creative content campaigns in real estate like Nike’s Better World or BMW’s Activate the Future, it doesn’t have to be this ambitious.
The obvious opportunity for brokers is neighborhood content and real estate “how to.” (Nest Realty does a great job with neighborhood profile pages.) But there are two additional killer content opportunities every broker can access right now: customer testimonials and reviews.
Rather than approach neighborhood content and real estate “how to” as two small aspects of an overall marketing plan, think of them as content opportunities — a chance to tell your story through other people.
Go for authenticity.
Use Red Oak Realty’s client stories as the benchmark for what compelling testimonials can be.
Include full names, detailed stories of exactly what challenges your clients had and how you helped them overcome them. Interview them in their new homes, where they will feel relaxed and excited to talk about the process. Take their pictures.
This is how you create authentic stories that make those who don’t already know you feel more confident in your abilities.
Reviews are another area-rich content vein. But you can’t leave it up to fate. You’ve got to create a process for getting clients to create reviews on third-party sites. You can’t do it for them, but they’re much more likely to actually do it if you make it easy for them and give them a gentle nudge at the end of every closing.
The Good Life Team in Austin does this well, as you can see in the number of recent reviews it has on Google.
Point is: Content is a major player in marketing today and going forward. It’s critical for authenticity, trust, Web traffic and social marketing.
If you’re a broker who’s not thinking like a publisher or feeling like there’s value in doing that, then think about the fact that publishers are already thinking about real estate as content. Look no further than this Chicago Real Estate page on Huffington Post, which features listings (your content) with articles and commentary contributed by Trulia and Zillow.
You have plenty of great content (and publishers want it — bonus!). You just have to start — and commit.








