Westchester County, NY Market Statistics for June, 2009

The sales statistics for Westchester County have just been published in two places.  One is the New York State Assocation of Realtors and the other is Realist is a company that the Westchester Board of Realtors uses to compile public market data.  Let's start with the State numbers.

For existing single family homes in May, 2007 there were 401 sold, May, 2008 there were 306 sold, April, 2009 179 and May 2009 217.  The percentages tell the story.  From May, 2007 to May, 2009 there were 21.7% less home sold in Westchester County.  According to the state the median price has dropped significantly as well.  in May of 2007 the median was $675,000, in May, 2008 the median was 703,750 and in May, 2009 the median dropped to $568,000.

 Realist picks up stats from public records.  This snapshot says 6/3/2009 but when you consider that the sales are not recorded immediately these numbers do not correctly state the market at the current time.  There is a lag.  Overall however it gives you an indication of what is going on with the market but is not accurate if analyzing the market statistically.

NAEBA Calls on Congress for Real Estate Agency Disclosure Mandate

NAEBA Calls on Congress to Establish a Federal Mandate for Real Estate Agency Disclosure

Is NAEBA right?  Should Agency Disclosure be a disclosure in mortgage lending reform?  Interesting concept.  I would rather have the Mortgage Broker/Banker have an agency relationship or disclosure in mortgage lending reform.

" The National Association of Exclusive Buyers Agents (NAEBA) released a letter to Congress on Wednesday urging members to include real estate agency disclosure language in legislation relating to mortgage lending reform, including the Anti-Predatory Lending Act and the ongoing discussion over the formation of a Financial Products Safety Commission "

 To read the complete press release, here.

Westchester County Real Estate Blog - the original!

I started blogging way back, four years ago.  At the time there were only one or perhaps two of us on the internet blogging in Westchester County.  Even today a small handful of agents are blogging.  Back then I named my blog "Westchester County Real Estate Blog"  I choose the name because it was simple and clearly indicated what the blog would be about.  I also went around the internet to see what other bloggers around the country were doing and many had used the nae of their community and addred "real estate blog".

I bought the domain and pay for it.

Now there ae two other bloggers that use the name.  I have checked all around the country on those original bloggers to see if anyone in their area is doing what these two other bloggers are doing and it seems they are not.  In other areas bloggers have come up with their own original identities.  They nurture their audiences.  They are not trying to up their rankings on someone else's back.  They maintain their own internet space no stepping on toes.

I would never do this.  I want my own identity.  I don't want to copy or ride someone elses SEO.  In other areas around the country individual bloggers have come up with all sorts of clever names to brand themselves.  Don't know why these two bloggers here couldn't do the same.

So, remember there is only one original "Westchester County Real Estate Blog".

It's Best to Keep Quiet!

This is a true story that I have slightly embellished to make my point.  When you finally find the house you want, you fall in love and you tell your friends about it, you are helping someone else buy it out from under you.  Here's the story:

A buyer of mine, a few years back, had spent about a year looking for the house of their dreams.  We saw many houses and dismissed many more on the internet.  Finally they found the right house and after a year knew it.  This couple  had also developed a sense of the value and knew what she was willing to pay for it. Finally.  During the year there were episodes of despair and the belief that it would never happen.

This couple was excited that they "found their house" and wanted everyone to know about it  and so they told everyone, they told friends, they discussed it at the local gym.  These friends were willing to forego the friendship because finding the right house was more important.  You never know who you are talking to when you discuss a house o the details of a negotiation.  The seller's daughter could be that nice girl on the treadmill next to you.  The more you talk the more you hand over all your hard work to another buyer.

Well, one night this couple went out to dinner with her parents at a local Italian restaurant.  Excitedly they told her parents all about the house and what a good deal they felt they had gotten.  They described in detail the negotiations and felt they had handled it with savvy and knowledge.  They were proud of how they handled the process and wanted to impress their parents with their knowledge.

The problem was that the seller was sitting at the next table.  This buyer had never met the seller as they were never home during showings.  The seller heard the story from the next table, recognized the negotiations and amounts and heard "we got such a good deal!" Ooops.

They lost the house.

You Are Late!

I have been busy with showings.  I do my best to judge the amount of time each buyer will take in a property and plan accordingly.   What I can't plan is if the buyer gets stuck in traffic and is late.  Or if the baby sitter doesn't arrive when they said they would and that makes the buyer late.  Or if they get a flat tire on the way.  We agents do our best but things happen that are out of our control.

It would be nice if we could call each home owner and explain we will be late but by the time the buyer arrives we can't sit in our car with our buyer and call a multitude of offices and ask them to call each homeowner and explain that we will be late because by the time we do that we will be later.  Some of the offices are better than others, some aren't even open on Saturday afternoons anymore.

It would be nice if seller's understood we are doing our best and we can't always be on time.  It can be annoying to have a house on the market for sale but it is the only way to get the job done.  Please be patient and cut us some slack.  Thank you.

    Miriam Bernstein can be reached at 914-907-1922
    Twitter
    Westchester County Real Estate Blog
    Search the Westchester County Multiple Listing Service