Tag Archives: South Salem Homes for Sale

4 ways we treat our homes like family | South Salem NY Real Estate

 

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If you know me (even on Facebook), then you know much about the antics of my little pug mix “children,” Aiko and Sumiko. Though I try to manage myself and post only one out of every 100 pics I take of them, what does make it to my social media channels tends to be the top 1 percent of their funniest, most humanlike follies, like Aiko’s meditation poses and Sumiko’s disdain for me taking pictures of Aiko’s meditation poses.

In fact, I felt validated when, last time I posted a pic, a friend mentioned how humanlike one of my dog’s facial expressions was. Can you say “preaching to the choir”?

This (mostly) harmless habit we have of attributing human qualities to animals is something word buffs and Jeopardy fans know is called “anthropomorphism.” And the reality is that we do this with loads of other nonhuman things and even inanimate objects, including our homes.

In fact, I’d go so far as to say that homeowners who treat their homes almost like they’re human are some of the best homeowners around. Here are a just a few of the ways I’ve seen that great homeowners anthropomorphize their homes:

1. We name them. Some homeowners or builders actually name their homes human names, in the same way B.B. King named his legendary guitar “Lucille.” It’s quite common for homes to be assigned the family’s actual surname, creating even closer ties between the family’s identity and the home that serves as the site for their precious moments over the years, decades or even generations. Think: Spelling Manor or many of Frank Lloyd Wright’s famous designs.

Other homes are given names quite literally descriptive of the property itself or its surroundings, like the infamous Grey Gardens mansion in the Hamptons (where the true story depicted in the popular HBO film took place), Donald Trump’s Mar-a-Lago or Le Beau Château, the 22-room Connecticut manor that was owned but never even visited, much less occupied, by reclusive billionairess Huguette Clark in the five decades she owned the property before she passed away.

(Le Beau Château can be yours, by the by, for just a smidge under $16 million.)

And it’s not only the wealthy and famous who name their homes. In my family, we tend to reference our homes in conversation by their street names, and I have friends and clients that name their homes from a variety of angles, calling their places “The Barn,” “The Country House,” “Casa de (family surname)” and even “The Ponderosa.”

2. We listen to them. In a healthy human relationship, we listen to the folks we care about, sometimes intently, to keep things functional and address issues before they spiral beyond repair. Same goes with a health-conscious homeowner and his relationship with his property: We listen for creaks, groans, drips, squeaks, moans, squeals and all manner of other ways our homes speak to us, “vocalizing” what’s happening in their inner works and often dropping clues to needed repairs and upgrades long before things actually stop working.

3. We expect them to behave age-appropriately — and worry when they don’t. We expect children to beg for checkout-counter candy, teens to wear weird things and borrow our cars, adults to be self-sufficient, and our elderly relations to have the occasional health issue.

And along the human life cycle, we expect people to outgrow things, wear things out and even need different sorts of equipment at various phases. In fact, the need for a first work wardrobe, a first home, a first pair of reading glasses or even, later, a first set of hearing aids is something we see as a signal that the people in our lives are entering new stages of life and facing the new challenges each stage brings.

We look at our homes the same way. New homeowners expect to have little or no repair issues for years, while some people buying and living in older homes actually go so far as to track the age and health of various systems in the home, from the foundation to the furnace, and use that information to create a maintenance and replacement calendar for the entire property.

This expectation that homes will act age-appropriately also leads to outrage when they don’t — and is a huge part of the reason it behooves homebuyers to obtain inspections, so the inspector can brief them on how old everything in the house is, how functional things are (or not), and what, if anything, will need to be done to maintain functional systems in the short and long term.

4. We feed them. Anyone who says homes don’t require feeding has simply never been responsible for one. We feed our homes with water, gas, electricity and the cold hard cash that pays the mortgage and property taxes on a monthly basis. Add to that the intensive ongoing care that we invest into our homes, from routine cleaning to major design and remodeling initiatives, and it’s no wonder that many of us actually “feed” our homes more and better than we feed our human families!

Question: Do you treat your home as a person? How?

 

                                                   

 

Current Confidence Index for Single-Family Homes Steady | South Salem NY Real Estate

The majority of REALTORS® continued to report rising home prices and improving days on the market.  However, REALTORS®   reported that  the market remains hampered by a “demanding and rigid loan qualification process”  that  has made mortgage underwriting  “a nightmare”  and “the toughest hurdle.” This has led to cash  buyers and investors easing out  first time buyers using mortgage financing.   Low inventory  persists and REALTORS® have reported homes selling above the list price.  Policy uncertainty on a variety of economic and and tax issues, mainly due to the tepid job growth and  measures to avert the the fiscal cliff  — continues to dampen  the market. Hurricane Sandy also caused a temporary market slowdown in the affected areas, although a recovery is anticipated in the coming months.

What Does This Mean for REALTORS®?

Concerns over the residential home sale market are probably reflective of  current economic uncertainties.  In fact, the home sales markets have been recovering in price and sales in many areas, and mortgage rates are low—although finding a mortgage may take a number of applications.  REALTOR® confidence is well above its level two years ago, and prices and sales are slowly increasing.  Assuming that the economy continues  and that the fiscal cliff issue is addressed — which is the assumption of most economists  —  one would expect a continued expansion of home sales.

CoreLogic: Prices Rose 7.9 Percent in 2012 | South Salem Realtor

December 2012 home prices are expected to rise by 7.9 percent on a year-over-year basis from December 2011 and fall by 0.5 percent on a month-over-month basis from November 2012 reflecting a seasonal winter slowdown, CoreLogic said today.

Excluding distressed sales, December 2012 house prices are poised to rise 8.4 percent year-over-year from December 2011 and by 0.7 percent month-over-month from November 2012, according to the CoreLogic Pending HPI.

Home prices nationwide, including distressed sales, increased on a year-over-year basis by 7.4 percent in November 2012 compared to November 2011. This change represents the biggest increase since May 2006 and the ninth consecutive increase in home prices nationally on a year-over-year basis. On a month-over-month basis, including distressed sales, home prices increased by 0.3 percent in November 2012 compared to October 2012. The HPI analysis shows that all but six states are experiencing year-over-year price gains.

Excluding distressed sales, home prices nationwide increased on a year-over-year basis by 6.7 percent in November 2012 compared to November 2011. On a month-over-month basis excluding distressed sales, home prices increased 0.9 percent in November 2012 compared to October 2012. Distressed sales include short sales and real estate owned (REO) transactions.

“Housing was one of the past year’s biggest surprises. Even without significant gains in income, housing mounted an impressive recovery in 2012,” said CoreLogic Chief Economist Mark Fleming. “While the economy is strengthening, there is more to be done. For example, concerns remain around structural unemployment and the falling labor force participation rate.”

Highlights as of November 2012:

  • Including distressed sales, the five states with the highest home price appreciation were: Arizona (+20.9 percent), Nevada (+14.2 percent), Idaho (+13.8 percent), North Dakota (+11.3 percent), California (+11.1 percent).
  • Including distressed sales, the five states with the lowest home price depreciation were: Delaware (-4.9 percent), Illinois (-2.2 percent), Connecticut (-0.5 percent), New Jersey (-0.5 percent) and Rhode Island (-0.3 percent).
  • Excluding distressed sales, the five states with the highest home price appreciation were: Arizona (+16.5 percent), North Dakota (+12.9 percent), Nevada (+12.6 percent), Hawaii (+11.6 percent) and Idaho (+11.6 percent).
  • Excluding distressed sales, this month only two states posted home price depreciation: Delaware (-3.5 percent) and Alabama (-2.2 percent).

The Difference between Strategy and Tactics | South Salem Realtor

Apple World

The purpose of this post is to clearly delineate the distinct differences between strategy and tactics, and show how they work in tandem for your organization.

Often, we use the terms strategy and tactics interchangeably and in a haphazard manner.  When probing at online definitions and dictionaries, they often share many of the same characteristics, making them difficult to differentiate.  Rather than debate Greek military etymology, Sun Tzu philosophy, or latest publication from the Harvard Business Press, here’s strategy and tactics delineated by their associated actions:

[The difference between strategy and tactics: strategy is done above the shoulders, tactics are done below the shoulders]

While a tweet-worthy catch phrase, this metaphor risks glib over-simplification. To explore deeper, let’s dissect strategy vs tactics in the following breakdown:

Breakdown: The Difference between Strategy and Tactics

StrategyTactics
PurposeTo identify clear broader goals that advance the overall organization and organize resources.To utilize specific resources to achieve sub-goals that support the defined mission.
RolesIndividuals who influence resources in the organization. They understand how a set of tactics work together to achieve goals.Specific domain experts that maneuver limited resources into actions to achieve a set of goals.
AccountabilityHeld accountable to overall health of organization.Held accountable to specific resources assigned.
ScopeAll the resources within the organizations, as well as broader market conditions including competitors, customers, and economy.  Yet don’t over think it, to paraphrase my business partner Charlene Li, “Strategy is often what you don’t do”.A subset of resources used in a plan or process. Tactics are often specific tactics with limited resources to achieve broader goals.
DurationLong Term, changes infrequently.Shorter Term, flexible to specific market conditions.
MethodsUses experience, research, analysis, thinking, then communication.Uses experiences, best practices, plans, processes, and teams.
OutputsProduces clear organizational goals, plans, maps, guideposts, and key performance measurements.Produces clear deliverables and outputs using people, tools, time.

Strategy and Tactics Must Work in Tandem
These two must work in tandem, without it your organization cannot efficiently achieve goals.  If you have strategy without tactics you have big thinkers and no action. If you have tactics without strategy, you have disorder.  To quote my former business partner, Lora Cecere, she reminds me that organizations need big wings (strategic thinking) and feet (capability to achieve).

Examples:
To illustrate, here’s some specific examples across different industries of how strategic goals can be communicated with clear tactical elements, in a linear and logical order:

  • Strategy: Be the market share leader in terms of sales in the mid-market in our industry. Tactics: Offer lower cost solutions than enterprise competitors without sacrificing white-glove service for first 3 years of customer contracts.
  • Strategy: Maneuver our brand into top two consideration set of household decision makers. Tactics: Deploy a marketing campaign that leverages existing customer reviews and spurs them to conduct word of mouth with their peers in online and real world events.
  • Strategy: Improve retention of top 10% of company performers. Tactics: Offer best in market compensation plan with benefits as well as sabbaticals to tenured top performers, source ideas from top talent.
  • Strategy: Connect with customers while in our store and increase sales. Tactics: Offer location based mobile apps on top three platforms, and provide top 5 needed use cases based on customer desire and usage patterns.
  • Strategy: Become a social utility that earth uses on an daily basis. Tactics: Offer a free global communication toolset that enables disparate personal interactions with your friends to monitor, share, and interact with.

Action: Using Strategy and Tactics to advance your Organization
First, educate your staff and colleagues on the differences of terms and how they vary.  Next, ensure that all tactics align to business strategy, and all strategies take into account tactics on how they will be achieved.  Finally, cascade in all communication how strategy and tactics work in tandem, advancing how your organization can see the larger goals, and better utilize resources to achieve.

That’s my take, but please expand the conversation with your perspective, in the comments below.

Image credit: “Telescope” by Kristin Marshall, used within creative commons licensing.

New Jersey plays catch-up in foreclosure market | South Salem NY Real Estate

foreclosure-nj Joe Raedle Getty Images.JPG Foreclosures are down nationwide, but linger in New Jersey. Joe Raedle/Getty Images

Despite a drop in foreclosures nationwide, New Jersey continues to play catch-up.

A report today from RealtyTrac showed foreclosure activity dropped signnificantly as banks have been encouraged to work with homeowners to find ways to kep them in their homes or unload them through short sales, in which the property is sold for less than the debt owed on it.

Bank repossessions were down 17 percent nationally last year, according to RealtyTrac. Foreclosure filings dropped 3 percent. That represents a drop of 36 percent from a peak in 2010, the firm said.

But foreclosures surged in New Jersey by 55 percent over last year. New Jersey, along with Florida and Illinois, saw the largest increases in foreclosure activity.

So-called judicial states like New Jersey, in which the process must go through the courts, take longer to resolve cases. A backlog built up in 2011 when courts ordered the the mortgage industry to address charges the companies employed questionable procedures in order to streamline the process, often hurting homeowners.

In New Jersey, the foreclosure process can take up to three years to complete, leaving a larger than average backlog.

While foreclosure activity declined last year, the inventory of homes in some stage of foreclosure or in banks’ possession climbed 9 percent to 1.5 million homes, RealtyTrac said.

Florida accounted for the biggest share of foreclosure inventory last year, or 20 percent of the national total.
The Associated Press contributed to this report

via nj.com

South Salem 2012 sales rise 23.5% – Prices down 2.6% | RobReportBlog

South Salem 2012 sales rise 23.5% – Prices down 2.6%  | RobReportBlog

South Salem NY Sales
2012 2011
63Sales5123.50%UP
$575,000.00Median Price$590,822.002.60%DOWN
$185,000.00Low Price$191,000.00
$1,557,000.00High Price$2,000,000.00
2842Ave. Size2583
$232.00Ave. Price/foot$234.00
235Ave. DOM198
93.66%Ave. Sold/Ask94.45%
$652,715.00Ave. Sold Price$590,821.00

Mortgage-Bond Yields Soar to Highest in Four Months on QE Doubt | South Salem NY Real Estate

Yields on mortgage securities that guide U.S. home-loan rates jumped to the highest in almost four months as the minutes of a Federal Reserve meeting signaled the central bank’s bond buying may end this year.

A Bloomberg index of yields on Fannie Mae-guaranteed mortgage bonds trading closest to face value rose 0.07 percentage point to 2.34 percent as of 3 p.m. in New York, the highest since Sept. 12. That was the day before the central bank announced plans to add $40 billion more of government-backed home-loan securities to its balance sheet each month.

Fed policy makers said they will probably end their purchases of the debt and $45 billion of Treasuries each month sometime in 2013, with Federal Open Market Committee members divided between a mid- or end-of-year finish, according to the record of its Dec. 11-12 gathering released today in Washington. That assessment of its so-called quantitative easing, or QE, program was a “big surprise” to the bond market, according to Jim Vogel, a debt analyst at FTN Financial in Memphis, Tennessee

Higher bond yields “point to the Fed’s very real QE dilemma,” Vogel said in a note to clients. “When it signals an end to QE, higher rates could endanger the very recovery that is improving the labor market conditions. Look no further than how many bullish economic forecasts for 2013 lead with a better housing market.”

Yields on the Fannie Mae bonds widened about 0.03 percentage point relative to an average of five- and 10-year Treasury rates, to 0.99 percentage point, according to data compiled by Bloomberg. That’s 0.01 percentage point less than the average during the past three months, and up from a record low of 0.55 percentage point on Sept. 25.

The Fed minutes were “somewhat bearish” for spreads and an end to its buying in the third quarter may mean they “find a floor at current levels,” Nomura Securities International analysts led by Ohmsatya Ravi wrote in a note. “Most” traders and investors had been “expecting the Fed’s purchase program to continue at least until the end of 2013,” they said.