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Bedford NY Town Government | Bedford NY Real Estate

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A five member Town Board, made up of the Supervisor and four Town Board members elected at large, functions as the legislative body of the Town and is responsible for the “health, safety and welfare” of its residents. Terms for Town Board members are four years; the Supervisor’s term is two years.
 

The Supervisor functions as the Chief Fiscal Officer and Chief Executive Officer. A Deputy Supervisor is appointed to assist with the duties of the Supervisor during their absence.

The Town Board is a legislative body, responsible for setting policy, adopting the annual budget, and enacting laws and resolutions for the betterment of the Town’s residents.

Regular Town Board meetings are conducted the first and third Tuesdays each month at 8 pm in the Town House followed by a Public Open Forum. Work sessions are held as announced. All meetings are open to the public and only certain legally sensitive issues may be discussed in executive session.

Members of the Town Board may be reached by contacting the Supervisor’s Office or sending mail to the Town Supervisor’s Office at 321 Bedford Road, Bedford Hills, NY 10507

Supervisor
Lee V. A. Roberts, Supervisor
Two year term ending 12/31/11
Email: Supervisor@BedfordNY.info
Telephone: 914-666-6530
FAX: 914-864-1030

 
Town Board
 
Chris Burdick
Town Board Member
Term ending 12/31/11
Email: CBurdick@BedfordNY.info
 Peter A. Chryssos
Town Board Member, Deputy Supervisor
Term ending 12/31/13
Email: PChryssos@BedfordNY.info
 

Francis T. Corcoran
Town Board Member
Term ending 12/31/13
Email: FCorcoran@BedfordNY.info 
David Gabrielson
Town Board Member
Term ending 12/31/11
Email: DGabrielson@BedfordNY.info
 
Town Justices
The Town of Bedford has two Town Judges, each elected to a four-year term. The Judges hold sessions of Criminal Court, Civil Court and Traffic Court.

 
Kevin Quaranta
Term ending 12/31/11

 Erik P. Jacobsen
Term ending 12/31/13
 
Email: Court@BedfordNY.info
Voice: 914-666-6965
FAX: 914-666-2490

 
Town Clerk
The Town Clerk is elected to a four-year term and duties include, among many, running the Town Elections and serves as the Registrar of Vital Statistics.
Lisbeth (Boo) Fumagalli, Town Clerk
Term ending 12/31/13
321 Bedford Road
Email: TownClerk@BedfordNY.info
Voice: 914-666-4534

 
Westchester County Legislator
2nd County Legislative District
Peter Harckham
Westchester County Office Bldg.
148 Martine Ave.
White Plains, NY 10601
(914) 995-2810
Email: Harckham@westchesterlegislators.com

 Westchester County Clerk
Timothy C. Idoni
110 Dr. Martin Luther King, Jr. Blvd
White Plains, NY 10601
(914) 995-3080
Email: cclerk@westchestergov.com
 
Westchester County Executive
Robert Astorino
148 Martine Avenue
White Plains, NY 10601-3327
(914) 995-2127

 New York State Senate
40th Senate District
Vincent L. Leibell (R-C)
1441 Route 22, Suite 205
Brewster, NY 10509
(845) 279-3773
Email: leibell@senate.state.ny.us
 
New York State Assembly
89th Assembly District
Robert Castelli
4 New King Street, Suite 125
White Plains, NY 10604
(914) 907-2900
Email: castellir@assembly.state.ny.us

 United States Senate
Kirsten E. Gillibrand (D)
531 Dirksen Senate Office Building
Washington DC 20510
(202) 224-4451
http://gillibrand.senate.gov/contact/

 
United States Senate
Charles E. Schumer (D-IN-L)
757 Third Ave., Rm. 17-02
New York, NY 10017
(212) 486-4430
Email: senator@schumer.senate.gov

 United States House of Representatives
19th Congressional District
John J. Hall ( D)
1217 Longworth House Office Building
Washington DC 20515
(202) 225-5441

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How to Comply with Westchester’s New Well-Water Testing Law | Westchester Real Estate For Sale

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By Edward I. Sumber, Legal Counsel

On May 23, 2007, the County of Westchester adopted Local Law No. 7 of the year 2007 which is entitled “The Private Well-Water Testing Law”. The new Law becomes effective on November 19, 2007. Regulations contemplated by the new Law were published by the County of Westchester on Tuesday, September 18, 2007 and the Law and the Rules and Regulations are posted on the Health Department’s website at http://www.westchestergov.com/health/.

Why Was the New Law Necessary?

The new Law, also referred to as “Laws of Westchester County §707.0 et seq.” is intended to identify properties throughout Westchester County which are served by substandard water supplies so that purchasers of properties and tenants residing in properties served by wells with contaminants, are aware of the circumstances, can remediate and address the issues and so that the Health Department can make available to the public a “general compilation of water test results data arranged or identified by municipality or appropriate geographic area…”. In addition, the Department of Health may establish a public information and education program to assist the public in identifying the potential health affects of consuming contaminated water as well as suggesting water treatment techniques, equipment strategies and identifying funding sources available for treating water from private wells which have failed a water test.

Who Must Comply With the New Law?

There are three aspects to the Private Well-Water Testing Law:

1. §707.03 relates to water testing when a property served by well-water is sold in Westchester County;

2. §707.04 relates to water testing requirements for properties served by well-water which are leased; and

3. §707.05 relates to water testing requirements for new wells.

The burden of compliance with these new sections falls upon a seller of real property upon the sale of the property, the landlord in connection with the leasing of property and the owner of property at the time that a new well is installed.

Requirements upon Sale of Real Property

When a contract of sale for any property served by well-water in Westchester County is signed, the seller must cause a water test to be conducted, which will identify contaminants, constituents, substances, metals, inorganic or organic chemicals (all refered to as “Parameters”) which affect the drinking quality of the water. The seller is required to arrange and pay for the cost of the testing and within ten (10) days of the signing of the formal contract of sale, provide to the purchaser confirmation that the test has been ordered. Within five (5) days after the receipt of the water test results from a certified laboratory, the seller is required to deliver the well-water testing report to the purchaser. The purchaser and seller are required to certify in writing that they have received and reviewed the water-test results. The County Health Department must receive a copy of the test results directly from the certified laboratory.

If the test fails any of the primary parameters (bacteria/total coliform or e-coli, nitrates, arsenic, lead, primary organic contaminants, vinyl chloride or MTBE) the seller will have a choice to a) correct the condition to achieve safe levels of contaminants b) cancel the contract of sale and return the down payment or c) agree in writing to consummate the sale upon terms negotiated between the buyer and the seller.

In addition, the purchaser or seller can test for additional parameters which are not considered “Primary Parameters” and which are referred to in the Regulations as “Secondary Parameters” which affect taste and water quality. Such secondary parameters include pH, iron content, sodium content, chloride content, etc.

Water Testing for Leased Properties

Landlords will be required to test a private well on or before November 19, 2008 and once every five (5) years thereafter. Every new tenant of an apartment in Westchester which is provided with water from a private well is entitled to a copy of the test results whenever a new lease is entered into.

New Wells and Wells Not In Use

Prior to its first use, any new well must be tested and any well which is not in use for a period of five (5) years for drinking purposes must be tested if it is placed into use for a resident or owner.

Who Can Perform the Test?

The test can only be performed by a certified laboratory. The certified laboratory must designate an employee or authorized representative of the certified laboratory to collect

the water sample. The water sample cannot be submitted by the homeowner, by a Realtor or by any other party.

There are highly technical requirements for how the sample is to be obtained including the designation of sampling locations and particular requirements for lead analysis. The format of the report to be provided by the certified laboratory is specified by the Westchester County Department of Health and will include the maximum contaminant levels, guidelines, optimum ranges and other data. The data is required to be reported by the laboratory directly to the Department of Health and to the person who requested the test. Results will not be made available to the public. A list of certified laboratories will be created by the Westchester County Health Department and can be found at the Department’s website at www.westchestergov.com/health.

What is the Estimated Cost of the Testing?

The Questions and Answers promulgated by the Department of Health on September 18, 2007 indicate that the Department believes that the average cost of the well testing will be Four Hundred to Four Hundred Fifty ($400 – $450) Dollars. The seller is required to pay the cost and the Law specifically prohibits an agreement between buyer and seller that the test be waived (§707.09).

What About Contracts Entered Into Prior to November 19, 2007?

The Law provides that it is applicable only to contracts on or after Monday, November 19, 2007. It applies solely to properties which are served by private wells that are providing potable water for drinking purposes (not wells used strictly for watering lawns, etc.). If there was an accepted offer with respect to a property as of November 19, 2007 but formal contracts have not been entered into, the well testing Law will apply. The Law does not allow the seller to pass the costs onto the purchaser. If a test is completed by a seller and the sale is not consummated, the seller can use the test results for a period of one (1) year from the date of the original sample collection although the test for coliform is valid only for six (6) months from the date of the sample collection. In such cases in which a test was already obtained, the seller is required to provide a copy of the test results within ten (10) days of the execution of the subsequent contract.

What are the Penalties for Non-Compliance?

The Department of Health has the ability under the Law to impose heavy fines upon a non-compliant landlord or a seller of real property. Under §707.12, a seller, purchaser or lessor who violates the new Law is subject to a civil penalty not to exceed One Thousand ($1,000) Dollars. In addition, when a contaminated well is not remediated or a test is not provided by a seller to a purchaser or by a landlord to a tenant as required

by the new Law, the County can impose a fine of One Thousand ($1,000) Dollars per day for failure to provide potable water until the condition is corrected or remediated. In addition, any violation resulting from the failure of an owner or landlord to remediate a known condition within one (1) month of the initial violation date is subject to a penalty not to exceed Ten Thousand ($10,000) Dollars for each violation.

What Rights Do Tenants Have?

In the event that a landlord fails to provide potable water to a rented property, the tenant is granted the right under §707.06 to remediate the condition and obtain subsequent tests of the water and to offset the cost of any remediation and subsequent water tests against the rent payable under the lease.

What is the Role of the Realtor?

When originally drafted, the Law imposed upon Realtors and other state licensees an obligation to provide information and assure compliance with the new Law. Through the work of the Westchester County Board of Realtors, the County deleted the sections placing this obligation on State licensees.

Notwithstanding the deletion from the Law of the obligations of Realtors, the self-interest of Realtors to ensure that the transactions which they work to bring about are consummated will necessitate informing sellers and providing information about the new Law and how to bring about compliance.

The Westchester County Department of Health’s website should be accessed by every Realtor to download a copy of the new Private Well-Water Testing Law, the Regulations issued by the Commissioner of Health which are effective on the effective date of the Law (November 19, 2007), as well as the Frequently Asked Questions (“FAQs”) and Answers which are also available on the website. The FAQs are broken into fifteen (15) questions under “Applicability and General Requirements”, nine (9) questions under “Collection and Analysis of Samples” and eleven (11) questions under “Interpreting Test Results & Subsequent Actions”.

A review of these FAQs, the Law and the Regulations reveals that this Law is not simple and will no doubt cause compliance difficulties for some sellers and landlords as well as some unanticipated costs. The Department of Health has also issued a “Summary of Private Well-Water Testing Law” which includes a contact E-mail address for Ms. Nancy Birnbaum (neb1@westchestergov.com) to answer technical questions regarding the electronic transmission of data to the County

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NAR Reports First Time Buyer Survey in Chappaqua NY | Chappaqua NY Real Estate

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Highlights from the 2010 NAR Profile of Home Buyers and Sellers

The National Association of REALTORS® surveys home buyers and sellers annually to gather detailed information about the home buying and selling process. These surveys provide information on buyer and seller demographics, housing characteristics and the experience of consumers in the housing market. Buyers and sellers also share information on the role that real estate professionals play in home sales transactions. NAR’s Profile of Home Buyers and Sellers reports – based on results of those surveys – provide real estate professionals with insights into the needs and expectations of their clients. This year’s data provide valuable insight into how buyer and seller demographics have changed based on shifting market conditions. The latest 2010 NAR Profile of Home Buyers and Sellers* was released during NAR’s annual conference and expo in November. Below we highlight some of the findings of that survey report that focus on home buyers.

Homebuyer Demographics: Who’s Buying

In 2010, home buyers saw the continuation and expansion of the home buyer tax credit. While the original home buyer tax credit only covered first-time buyers, the expansion covered move-up

buyers. The tax credit and record home affordability changed the home-buyer landscape.

One of the most important changes reflected in this year’s findings was the share of first-time buyers. Over the last 10 years, first-time purchasers have accounted for 40-41 percent – on average – of all home buyers during the course of a year. The 2010 survey results show that 50 percent of all purchasers between July of 2009 and June of 2010 were first-time buyers. This is the largest share of first-time buyers in more than 19 years.

Improved affordability has opened the home-buying market to those who would not have been able to purchase a home in the past. Median household income of home buyers declined nationally and in all regions for the last two years. But at the same time, mortgage interest rates declined to historic lows and home prices remained affordable. Consequently, the decline in the median household income of home buyers reflects how improved housing affordability – coupled with government programs supporting home buying – opened the market to home buyers who would not otherwise have been financially able to purchase a home.

Improved affordability and the increased share of first-time home buyers are also reflected in the increased share of single buyers. Single buyers in 2001 accounted for 22 percent of the home-buying market; that share grew to 32 percent in 2010. The role of single female buyers has also been expanding in recent years, and held stable at 20 percent in 2010. This year the share of single male home buyers climbed to an all-time high of 12 percent of the market. The share of married couples declined to 58 percent in 2010 from 68 percent in 2001.

Why They Buy

Among buyers of nearly every age bracket and every household composition – those with children and those without children – the primary reason for purchasing a home was the desire to own a home. This result has been consistent over the years. Nearly 31 percent of all buyers cited this reason in 2010. This was especially true for first-time buyers—53 percent reported the most important reason for purchasing a home was the desire to own a home.

For repeat buyers the most important reason for their recent home purchase was the desire for a larger home and a job-related relocation or move. Affordability as a motivator has increased among first-time and repeat buyers and for buyers who are under 44 years of age.

The Home Purchased

What a buyer purchased depended greatly on the quality of the neighborhood, convenience to job, overall affordability of homes, convenience to friends and family, and the quality of the school

district. Whether a buyer was a first-time or repeat buyer, approximately three quarters of all home buyers purchased a detached single-family home.

Continuing a trend since 2007, the share of home buyers purchasing a previously owned home has increased, while the share purchasing a new home has declined. The typical home purchased was 1,780 square feet, had three bedrooms and two bathrooms, was built in 1990, and was 12 miles from the buyer’s previous residence. Once buyers find the home they are looking for they plan to stay in their home for 10 years.

The Home Search

The Internet is playing an ever increasing role in the home search process. Thirty-six percent of buyers looked online for properties for sale as their first step in their search for a home to purchase. An additional 11 percent began by finding information online about the home buying process. Nine in ten buyers used the Internet in some way during their search process.

While the usage of the Internet in the search process has grown, it does not diminish the use of real estate professionals; rather, it provides a complementary relationship. In fact, home buyers who used the Internet to search for a home were actually more likely than those who did not use the Internet to buy their home through a real estate agent (85 percent vs. 70 percent). Often those Internet users take steps to look at a particular property they saw online. Eighty-eight percent of recent buyers used an agent during their home search process. The use of other information sources has declined in recent years.

The Role of Real Estate Professionals

Home buyers still rely heavily on the expertise of real estate agents to navigate the housing market and help guide them through the home sales transaction. Eighty-three percent of buyers purchased a home through a real estate agent, up from 77 percent in 2009. Fifty-seven percent of buyers found their agent through a referral or used an agent they had used in the past to buy or sell a home.

Buyers most want their agent to help them find the right home to purchase, but they also want help negotiating the terms of sale and with price negotiations. Sixty-six percent of buyers benefited by having their real estate agent help them understand the process.

Satisfaction with one’s real estate professional is very high, and home buyers report that they were very satisfied with the services they received from their agents. More than 95 percent of buyers said they were very or somewhat satisfied with their agent’s honesty and integrity and their agent’s knowledge of

the home purchase process.

In Summary

Buying a home is a complex and at times can be a daunting process. There are many options as well as constraints that households face when searching for the right home that will meet their needs today as well as in the future. However, it is important to know that even amidst market uncertainty buyers want to make an investment through home ownership. Buyers are overall satisfied with the home buying process, with nine in ten reporting they were at least somewhat satisfied. Additionally, 87 percent of buyers would use their real estate agent again or recommend their agent to others.

Full NAR Article

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Fair Housing Rules and Regulations in Westchester NY | Westchester NY Real Estate

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Westchester Putnam Association of REALTORS®, Inc.
60 South Broadway, White Plains, NY 10601
914.681.0833

INFORMATION ABOUT FAIR HOUSING IN REAL ESTATE TO WESTCHESTER HOMEBUYERS, RENTERS, SELLERS, AND APARTMENT OWNERS:

The Westchester Putnam Association of REALTORS, Inc., of which I am a member, has asked its member REALTORS to distribute this memo to everyone with whom they do business. The purpose is to promote better understanding of current fair housing laws and the ethical obligations of REALTORS.

Discrimination in the sale or rental of residential property based on race, color, religion, sex, national origin, age, familial and marital status, or disability is prohibited by one or more provisions of federal and state law. In addition, Westchester County and some individual communities have local fair housing laws to supplement the federal and state laws. An abstract of key federal, state, and county laws is printed on the reverse side of this memo.

Real estate agents are subject to these laws. If the real estate agent is also a REALTOR member of the Board of REALTORS, he or she is subject to the additional standard of total nondiscrimination that is a part of the REALTOR Code of Ethics. Violation of the Code leads to

disciplinary action against the REALTOR in addition to the penalties under applicable laws.

But real estate agents and REALTORS are not alone in being subject to the fair housing laws.

IT IS IMPORTANT FOR REAL ESTATE BUYERS AND SELLERS TO KNOW THAT THEY, TOO, ARE SUBJECT TO MOST PROVISIONS OF THE FEDERAL, STATE, OR LOCAL FAIR HOUSING LAWS WHETHER OR NOT A REAL ESTATE AGENT OR REALTOR IS INVOLVED IN THE TRANSACTION. IN PARTICULAR, RACIAL DISCRIMINATION BY ANYONE IN THE SALE OR RENTAL OF HOUSING IS A VIOLATION OF FEDERAL LAW. Although the sale or rental of real property is a private act, it is subject to fair housing laws. Ordinary buyers and sellers, “testers,” and regulatory agencies can and do take legal action against parties who do not deal on an equal opportunity basis. We hope this information clarifies our mutual responsibilities in fair housing. Thank you for your attention.

REALTOR® is a registered mark which identifies a professional in real estate who subscribes to a strict Code of Ethics as a member of the NATIONAL ASSOCIATION OF REALTORS®. SUMMARY OF IMPORTANT FAIR HOUSING LAWS

EXCERPTED FROM PUBLICATIONS OF THE NATIONAL ASSOCIATION OF REALTORS AND FROM A

WESTCHESTER REALTOR’S GUIDE TO FAIR HOUSING AND EQUAL OPPORTUNITY REAL ESTATE

The 1866 CIVIL RIGHTS ACT provided that:

“All citizens of the United States shall have the same rights, in every State and Territory, as is enjoyed by white citizens thereof to inherit, purchase, lease, sell, hold and convey real and personal property.”

On June 17, 1968, in the case of JONES v. MAYER, the United States Supreme Court held that the 1866 law prohibits “all racial discrimination, private as well as public, in the sale or rental of property.”

Thus, any individual, who feels he or she has been discriminated against, can immediately file a suit in Federal Court. The court can stop the sale of a house, or rental of an apartment, to someone else

or award damages and court costs.

The 1968 Supreme Court decision further held that the 1866 Act protects all individuals against the following:

1. Denial that housing is available for inspection, sale, or rent when it is really available.

2. Discrimination in the terms or conditions of sale or rental lease.

1968 FAIR HOUSING LAW

Title VIII of the Civil Rights Act of 1968 (the Federal Fair Housing Law), declared it a national policy to provide fair housing throughout the United States. This law and subsequent amendment makes discrimination based on race, color, religion, sex, or national origin illegal in connection with the sale or rental of most housing and any vacant land offered for residential construction or use. The Fair

Housing Law provides protection against the following acts, if they are based on race, color, religion, sex or national origin:

1. Refusal to sell or rent, to deal or negotiate with any person.

2. Denial of a loan or creation of different terms or conditions for home loans by commercial lenders, such as banks, savings and loan associations or insurance companies.

3. Discrimination, by advertising that housing is available only to persons of a certain race, color, religion, sex or national origin.

4. “Blockbusting” for profit i.e. persuading owners to sell or rent housing by telling them that minority groups are moving into the neighborhood.

5. Denial to anyone of the use of, or participation in, any real estate services such as brokers’ organizations, multiple listing services, or other facilities related to the selling or renting of housing.

NEW YORK STATE LAW

New York law prohibits discrimination in the sale, rental or lease of housing accommodations on the bases of race, color, creed, national origin, sex, disability, age or marital status by the owner, lessee, sublessee, or managing agent of housing accommodations or by real estate brokers and salepersons.

The law also prohibits discrimination in:

1. The terms, conditions or privileges of the sale, rental or lease or in the furnishing of facilities or services in connection with any housing accommodation;

2. The printing or circulating of any statement or publication or the use of any form of application or publication for the purchase, rental or lease of a housing accommodation.

There are certain limited exceptions to New York State’s Human Rights Law: (1) the rental of one and two family dwellings where the owners or their families reside in such dwellings, (2) the rental of

rooms in housing accommodations by owners or occupants where such persons or their families actually reside in such accommodations or (3) the rental of all rooms in a housing accommodation to persons of the same sex.

FAIR HOUSING AMENDMENTS ACT OF 1988

This Act strengthened the enforcement of the 1968 Fair Housing Law. It also provided substantial additional protection for disabled persons seeking housing, and limited restrictions on purchasers or

renters on account of familial status or age. Sellers or landlords who would decline to sell or rent to persons on account of handicap or familial status are advised to consult an attorney beforehand.

WESTCHESTER COUNTY HUMAN RIGHTS COMMISSION

In 1999 the Westchester County Board of Legislators passed a County Human Rights law and created a Human Rights Commission to enforce compliance and promote equal and fair opportunity in Westchester County. In addition to the protected

classes addressed in Federal and State law, the Westchester law also prohibits discrimination by owners and real estate agents based upon an individual’s alienage or citizenship status, or their

sexual orientation.

North Salem NY Real Estate Report | RobReportBlog | Robert Paul Realtor

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Actives71    
Median$675,000    
Ave DOM149    
High Price$24,900,000    
Low Price$159,000    
Ave Size3900    
Ave Price/ft$387    
      
      
Sold North Salem NY Properties Over the Last SIx (6) Months     
      
 11/15/2010 11/15/2009  
Sold20 20  
Median$475,250 $550,000  
Ave DOM140 200  
High$2,050,000 $1,750,000  
Low$190,000 $115,000  
Ave Size2212 2707  
Ave Price/ft$278 $223  
Sale price/Ask93.71% 93.52%  
      
North Salem NY Homes     
North Salem Luxury Homes     

History of Mortgage Rates in North Salem NY | North Salem NY Real Estate

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We keep hearing that mortgage rates are the lowest in recorded history and it is true. Presently, the 30-year fixed rate on Zillow Mortgage Marketplace is 4.16 percent, the 15-year fixed is 3.56 percent and the 5/1 ARM is 3.03 percent.

Take a look at the history of the average 30-year fixed mortgage rate each year since 1972, when Freddie Mac started keeping track:

1972 – 7.38
1973 – 8.04
1974 – 9.19
1975 – 9.05
1976 – 8.87
1977 – 8.85
1978 – 9.64
1979 – 11.20
1980 – 13.74
1981 – 16.63
1982 – 16.04
1983 – 13.24
1984 – 13.88
1985 – 12.43
1986 – 10.19
1987 – 10.21
1988 – 10.34
1989 – 10.32
1990 – 10.13
1991 – 9.25
1992 – 8.39
1993 – 7.31
1994 – 8.38
1995 – 7.93
1996 – 7.81
1997 – 7.6
1998 – 6.94
1999 – 7.44
2000 – 8.05
2001 – 6.97
2002 – 6.54
2003 – 5.83
2004 – 5.84
2005 – 5.87
2006 – 6.41
2007 – 6.34
2008 – 6.03
2009 – 5.04

Article

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Chappaqua NY Buyer Real Estate Representation | Chappaqua NY Real Estate

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Buyers Representation is important when you decide to buy a home in Chappaqua NY. 

NYS has codified your relationship with your Realtor and as a buyer you should make sure you understand it.  Knowing your Realtor’s responsibilities to you will make your purchase process go smoothly.  Get it right from the start and you will clear up many misunderstandings.

The relationship formed between an agent and a client is a fiduciary relationship because it is based on trust. 

The agent owes a client:

Loyalty
Diligence
Confidentiality
Reasonable Skill & Care
Obedience
Disclosure
Accountability
Buyer’s Agent

A buyer’s agent is employed to find an acceptable property for a prospective purchaser. The buyer’s agent represents the purchaser in a position of trust and confidence. He or she will negotiate the best possible price and terms for the buyer.

Seller’s Agent
Also know as a listing agent, a seller’s agent works for and represents the seller in a position of trust and confidence.  A listing contract spells out the relationship.  A seller’s agent negotiates the best possible price and terms for the seller

Disclosed Dual Agency
Dual agency is a relationship in which the agent represents both the buyer and the seller in the same real estate transaction.  Since the agent will be in a position of trust and confidence to both buyer and seller, there is the potential for a conflict of interest, especially in negotiating price and terms.  New York law requires the buyer and seller to consent to a dual agency relationship in writing.

Designated Agency
To eliminate the potential conflict of interest that arises in disclosed dual agency, New York law allows the sponsoring broker to designate a salesperson to represent the seller and another salesperson to represent the buyer.  Each designated salesperson can represent their client, without the potential for a conflict.  New York law requires a client to consent to designated agency representation in writing.

NYS DOS

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How much home can you afford In Armonk? | Armonk NY Real Estate

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The answer involves a lot more than the down payment.

NEW YORK (CNN/Money) – The house is perfect: it feels right, it’s in the right neighborhood, and it’s got those star-gazing skylights you’ve always dreamed about. You must have it.

The only question is whether you can afford it.

The answer has to do with far more than the down payment and how big a mortgage you’re told you can get. In fact, just because a lender tells you that you can borrow a bazillion dollars doesn’t mean you should.

That’s because buying a home is probably not your only financial goal. You still have to fund your retirement and you may want to help pay for your kids’ educations, not to mention take a vacation or two. Committing every last dollar to the roof over your head can make for financial frustration at best, disaster at worst.

Here’s a quick guide to help you assess how much home you can really afford without committing yourself to the poorhouse.

Step 1: Make friends with reality
Before running off to see every cute colonial on the market, get estimates from lenders of how much you can borrow and then get a loan preapproval. “Why not couch the entire process in reality?” said Barbara Steinmetz, a certified financial planner and former real estate broker. Otherwise, you’ll waste time falling in love with houses out of your league, which can be “frustrating and demoralizing emotionally,” she said.

There are no absolutes that mortgage lenders apply in assessing a potential borrower’s eligibility, but there are some general guidelines that can help you figure out whether you’re a candidate for some of the best loans. (For a ballpark estimate, try our Mortgage Qualifier.)

For starters, the better your credit score, the better your chances of getting a favorable deal. Typically, too, a mortgage lender uses two ratios to assess the risk you’ll default on a mortgage. The first is the ratio of your total monthly housing costs to your total monthly gross income. Ideally, your expected housing costs — namely, the mortgage principal, interest, taxes and homeowner’s insurance (PITI) — shouldn’t exceed 28 percent of your income, although many lenders may allow up to 33 percent, according to Eric Tyson, coauthor of “Mortgages for Dummies.” The second is a debt-to-income ratio. Ideally, your total monthly debt — including your expected housing costs plus credit card bills and loan payments — shouldn’t exceed 38 percent of your gross, and preferably not more than 36 percent.

Having said that, there are numerous programs designed to help low-income consumers and those with weak credit obtain an affordable mortgage. For example, Freddie Mac, a government-established company that buys mortgages from banks, offers programs that do not apply a maximum on the housing-to-income ratio, that raise the cap on the debt-to-income ratio and that let home buyers obtain mortgages for as little as 3 percent down.

By learning which loans you qualify for, you can better assess the maximium price of the homes you should be looking at. “Now you can narrow the market,” Steinmetz said.

Step 2: Learn to love gutters and lawyers
Say you’ve got $60,000 saved for a new home and a bank willing to lend you up to $240,000. You figure you could look at homes priced up to $300,000, right?

Not so fast.

Two of the most shocking realizations for new home buyers is the cost of buying a house and the cost of owning it. First there’s the down payment, often tens of thousands of dollars. And if you put down less than 20 percent of the purchase price, you’ll end up paying monthly for private mortgage insurance (PMI), which protects the lender against the possibility you’ll default.

On top of that, you’ll pay anywhere from 2 to 5 percent of the purchase price in closing costs, which include inspections, discount loan points and lawyers’ fees.

Once you get the keys, you may pay far more, depending on how much renovation and redecorating you’d like to do. Then there’s the cost of maintaining your home and making repairs — everything from gutter cleaning, lawn care and termite inspection to replacing the water heater.

So, in calculating how much home you can afford, factor in the cash cushion you’ll need, after browsing through this official site, once you’re through yelling at the movers for scratching your new floor. Tyson recommends having at least three months’ worth of expenses on hand to help pay for maintenance and emergency repairs. And, indeed, a lender will insist you have some cash reserves left over after the closing.

Step 3: Flirt with the future
“Yeah, yeah, o.k.,” you say, still stuck on the house. “I’ll make the numbers work.”

Alright then. Start working. Estimate what your monthly payments would be if you actually had a $240,000 mortgage and then live for at least three months as if you had to make those payments, Steinmetz suggests. This dry-run serves two purposes: first, you get a good sense of what your cash flow would be with a mortgage that size; and second, you’ll save more money toward a new home by socking away the difference between your current house payments and your imagined ones, Steinmetz said.

In calculating your monthly payments, don’t just count the principal and interest on your mortgage, the property taxes and the insurance. Estimate, too, how much it will cost to heat — or cool — your new home. And factor in all your other expenses — from your commute to your club memberships. Don’t neglect your retirement account, either, and, if you have kids, continue to put aside money for college if that’s a priority. And remember, you’re no monk. You’ll probably still want to buy new clothes, go to the movies, eat out and indulge your love for pricey gizmos.

If, after all this, you find yourself running short every month, then you’ll know you either have to make some lifestyle changes or you have to get a smaller mortgage.

Step 4: Remember, ‘hock’ is a bad word
Given all these costs, that $300,000 house may be out of your league. Take closing costs alone. Assume you have $10,000 in closing costs (3.3 percent of purchase price); that reduces your $60,000 in savings to $50,000. Coupled with a $240,000 mortgage, that would only add up to $290,000. You’d have to borrow more money to buy the house, and you’d have to take out PMI since $50,000 is only 16.6 percent of $300,000.

But even if you know you can afford the monthly payments a $240,000 mortgage incurs, you have an emergency fund on top of your $60,000 and you’re willing to put down less than 20 percent, Steinmetz suggests looking for homes that are slightly less than you can afford. Here’s why: Real estate brokers, she explained, often show clients homes that are more expensive than the client’s stated price range. So it’s better to set your ceiling lower than your real top limit. That way, if you tell your broker you don’t want to spend more than $275,000 but are shown a $290,000 house you love, you’ve left yourself wiggle room to make a bid.

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Women Are Entering the Man Cave For The Better | Bedford NY Real Estate

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Craig Schuelke’s Forest Hill, Md., basement is a testament to manliness. There’s the Arnold Schwarzenegger pinball machine and about $30,000 of signed Michigan and Maryland sports memorabilia the construction superintendent has enshrined on the walls. An air-hockey table commands one corner, flanked by a pool table, shot-glass collection and dart board.

 Wendy Bounds tells Simon Constable and David Weidner why ‘Man Caves’ aren’t just for men anymore.

It’s a quintessential “man cave,” except for one feature: Mr. Schuelke’s wife, Melanie.

“He doesn’t know what we’re doing when he’s not home,” says Mrs. Schuelke. “My female friends, we shoot pool, drink beer and throw darts down there.”

The man cave has a secret: Women use them, too. Their new interest comes as these spaces have morphed from cold garage outposts into tricked-out comfy spreads, complete with flat screens TVs, fully stocked bars, arcade games and plush (clean!) furniture.

As a result, men are learning to share with the family while combating the inevitable intrusion of scented candles, flowers and kiddie toys. While couples often cozy up together or party in caves with friends, a growing number of women say they retreat there—even holding the occasional quilting party—without the guys.

The struggling housing market is partly behind the evolution of the man cave into a multipurpose space. Rather than trade up or build on, more homeowners are squeezing the most out of their existing living quarters—but splurging on the decor. As a result, today’s man caves are desirable and even luxurious pads that the whole family wants to enjoy.

An entire marketplace has emerged in recent years to outfit these spaces. There’s Man Cave LLC, modeled after Mary Kay cosmetics, where guys hold barbecue parties dubbed “meatings” to sell steak and cave accoutrements, such as bacon-scented candles and beer pagers to locate lost brew. Online retailers mancavemarket.com and themancaveoutletstore.com hawk essentials, such as beer kegerators, pool tables and Skee-Ball games.

Higher-ticket items make women feel more proprietary over caves, originally intended as spots where guys could be alone or hang with pals, says Mike Yost, who runs cave community site mancavesite.org. “If the guys spend on the big-screen TV and chairs, the wife typically is going to have to sign off on it, too.”

The Juggle: A ‘Man Cave’ of One’s Own

Further stoking female cave envy is cable TV’s “Man Caves” show on the DIY Network. Episodes feature bling such as a pool table that rises out of the floor. “These are really, really nice spaces, and when the guys want to spend time there, the family wants to spend time there,” says Andy Singer, DIY Network’s general manager.
 
Cushy chairs Not one, but two cupholders are built into this red-hot Coja Malibu recliner for $1,493.
That’s the case in Robert Butterfield’s Sierra Vista, Ariz., home. His retreat is a 400-square-foot homage to Nascar racers Dale Earnhardt and his son. It also sports a 50-inch TV, couch, hundreds of Diecast model cars, even a Christmas tree decked in Earnhardt ornaments—about a $50,000 investment. Mr. Butterfield, 43, calls it “my space,” but it’s often where his wife Maria and sons also congregate when he’s home from his overseas government-contracting job.

Says Mrs. Butterfield, 45: “I enjoy being in there because it’s kind of like a little getaway from the rest of the house. When I’m in there, I’m not reminded about dishes or laundry.” That’s cool with her husband: “Sure, I like time to chill alone, but I started a family because I wanted to be with them.”

Still, the gender cohabitation raises a nettlesome question: When does a man cave stop being a man cave and become just a family room? “There’s a real blurring of the line between man cave and family room,” warns Minnesota decorator Sue Hunter, who runs mancaveinteriors.com. “I think guys are going to start taking charge back in that area.”

And certainly purists remain, such as Tommy “Buck Buck” Sattler of Islip, N.Y., who rigged his 325-square-foot getaway with New York Giants football paraphernalia, seven TVs, a red-oak bar top, and urinal in the bathroom.

Mr. Sattler flips on an outdoor blue light to let the neighbors know when his “underground lounge” is open, but jokes that women, including his wife, typically stop by only if “they are dropping off food or bringing cleaning products.”

Most guys, however, seem game for co-ed caves—so long as there are ground rules, such as no potpourri or decorative pillows. Ms. Hunter, the man-cave decorator, steers clear of big glass vases and baskets in favor of art, she says, that means something to a man, such as “I want to go kill the buck in that picture.”

Then there’s the “no touch” rule that’s reigned in Mr. Butterfield’s Nascar sanctuary since he found his 4-year-old son’s fingerprints on the display cases with his model cars. “It’s a little bit of an ownership thing,” he says. “I’m really detail oriented, and this is the way I want the room.”

Other regulations are trickier to enforce. Karen Dixon gladly turned over her Friendswood, Texas, garage to husband Shawn, even though parking outside means unloading groceries in the rain. “I’m not controlling, and it makes him happy,” she says. Inside, he’s stationed his Harley Davidson motorcycle, a 1967 Cavalier Coca-Cola machine, pay phone painted Harley orange, and heavy-weight punching bag.

The Dixons, both 38, often play cards together in the cave, but she balks at his suggestion that usage is by “invitation” only. “Really? I think that he doesn’t own it,” says Mrs. Dixon, who believes her husband would be secretly “flattered if I brought my friends in there to have crafts and a book club.” Mr. Dixon’s concern: “I’d be afraid something would be moved and I’d never find it.”

The stickiest time can be during cave construction. Mrs. Dixon advises other women to negotiate time limits. “When Shawn is focused on something, it consumes him. Looking back, what I should have done is said, ‘Spend as much time with your family as with the man cave. If you work out there for an hour, then come inside for an hour.’ ”

Indeed, compromise is critical in any man cave negotiation. Married 36 years, Steve and Pam Flaten, both 56, share space in AutoMotorPlex Minneapolis, a compound of high-end garages ranging from 1,000- to 6,500-square feet for fixing up and storing specialty vehicles.

In the loft living area the Flatens constructed inside their garage, Mrs. Flaten typically quilts while her husband tinkers with his race cars below. Recently she held a quilting party.

Despite the domestic influence, Mr. Flaten has stood his ground on certain points. The racing flames on the toilet seat, those get to stay. The flowers she wanted for an end table, those got moved outside.

Women’s interest in the man cave phenomenon is sparking a logical next step: woman caves. The DIY Network is exploring development of a new show around the concept. Retailer HomeGoods just launched a campaign to outfit what it dubs “Mom Caves.”

WSJ Article

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The Powerful Role of Laughter in Small Groups in Bedford NY | Bedford NY Real Estate

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Recently, researchers from North Carolina State University used jury deliberations recorded during a capital murder case to study the role of laughter in small group dynamics. They were particularly interested in using the transcripts of jury deliberations (of a capital punishment case) to study laughter because there is very little research on the role of laughter in communication, particularly when divorced from humor.

What the researchers found was that laughter in this situation was used in a multitude of ways; namely to question, control, and regulate relationships, procedures, and information in the group. For example, sometimes laughter was used to signal support for a group member; at other times it was used to signal a lack of support. At times people used laughter as a tool, intentionally and strategically, to control communication and affect group dynamics, or to shift power.

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