I won’t say when or where this happened; suffice to say somewhere in New York. A buyer contacted me to show what appeared to be a short sale listing that had already been approved. The approval was for a previous buyer that walked away from the deal, so the window of time was narrow. It […]

Zillow used to be on my last nerve. It seemed that no matter how compelling my rationale was for pricing, a seller would claim that Zillow had their house at $50,000 higher or a buyer would lament that the value of the home they were buying was $50,000 lower. It was maddening. Zillow seemed arrogantly […]

No, not my brother Tom Faranda, but the Tom Faranda he was named after.  Whatever you are doing right now, you are doing it free from fear and confident in your future. You have much to look forward to. And for that, you owe a debt of gratitude to a US soldier.  Tom Faranda was […]

Withheld.  This is what sometimes appears as the name when sellers of a home instruct their agent that they wish to remain anonymous. I can understand the sentiment, but in this age of information, home owners should think long and hard before engaging in this practice. Other markets outside of New York may be different, […]

The fact pattern: Total time on market: 18 Months. Time with my company: 120 days Original Price with prior broker: $629,000 Original means of pricing home: oldest son’s date of birth (6/29) Current price: $489,000 Number of offers before yesterday: 0 Current offer: $420,000 Number of competing home for sale: 40 Number of comparable sales: […]

I have blogged previously on things a buyer should know before they buy a bank-owned foreclosure. Home values in Westchester have come down quite a bit since the “Great Correction,” which has brought out many people who wouldn’t have been candidates for ownership when prices in New York were unsustainably high. Foreclosures contribute to that […]

Listening to NPR the other day, the commentators were wondering what to call the current economic crisis. It isn’t a garden variety recession; it isn’t just the Credit Crisis, the Sub-prime Meltdown, or the failure of Freddie Mac/Fannie Mae. They mentioned that people are now texting the letters “ITE” to shorten “in this economy” the […]

According to the NY Times, minority homeowners are three times as likely to be foreclosed on than the norm. The NAACP is actually suing lenders over what they perceive as a new kind of redlining- giving minorities inferior and unsustainable loans. I made the following comment on the article on the Time’s website:   2009 […]

The government has moved to increase the incentive for lenders to allow short sales on their defaulted loans. I welcome this, although there is nothing specified as to how they’ll hold banks accountable for streamlining the process, which is rife with red tape, bureaucracy and long waits. If they truly want to make short sales […]

I was emailed this question: Hi Philip, I am a first buyer interested in homes in the city of XXX. I was interested in using you for my home purchase and have a question regarding buyer’s commitment to agents. If I see a property through an agent, am I required to submit an offer through that […]

Description and Features J. Philip Faranda, REALTOR, Broker & Owner of J. Philip Real Estate, has a unique opening for Super Professional buyer agents throughout the New York area. We seek an agent with experience, a positive attitude, and high professional & ethical standards to serve a large volume of qualified buyers seeking a home […]

The $400 toilet seat has always been the symbol of government waste, but now it is the TARP (Troubled Asset Recovery Program, or, better known as the “bailout”) funds that banks are, in my view, squandering. What I personally experienced below is the tip of the iceburg. 225 West Lovell, Mahopac, NY: Offer of $225,000 […]

This may be a touchy subject to some, but many people sabotage their own efforts to sell their home because of how their house smells. The source is most often a food or pet odor, and in both cases it is relatively preventable, especially as the warmer weather is upon us. This is probably the […]

One of my agents has a listing in a very desirable part of her town. It expired not long ago, and we will put it back as active once some projects has been finished. In the interim, the sign has remained up, per the seller’s preference.  An agent from out of town drove by, saw […]

Did you know my home’s assessed value is $30,000? Or that my last home was assessed at $25,100? Over in Congers I have a listing at $589,900 which is assessed at $177,800. In nearby Pleasantville I have a listing priced at $599,900 which is assessed for only $6600. I think the last year a home sold in Pleasantville […]

I’ve blogged about this house before. It is a stunner. The Program was CNBC’s “On the Money” with Carmen Wong Ulrich. One of the panelists is Dolly Lenz, Vice Chairman of Prudential Douglas Elliman Real Estate, a respected expert and extremely nice person. The segment with my listing starts at 1:30 of the video.    […]

Get a pre -approval before you make an offer on a new home. Here’s why.  85% of my business is on the listing side representing sellers. There is no setback in real estate as devastating as the “deal dying.” Typically, when a deal has died in my experience, it has been because the buyer was […]

   You can search the MLS like an agent here.  See J. Philip’s New York Photo Blog Here. J. Philip Faranda is New York’s Premier Short Sale REALTOR. Read Phil’s short sale blog here at http://NYShortSaleBlog.net. J. Philip Serves Briarcliff Manor, Ossining, the River towns , Westchester County & the bedroom counties of New York City.  

Just Listed! Price Reduced! Must Sell! New Price! Open! Buzz off. You know who you are. I spend $200-300 per month on my primary MLS and then more money on programs to match buyer clients to listed properties. Simply put, if your listing matches my buyer, I’ll know before you do. If you just reduced […]

As more inventory enters the spring market, over half of my new listings are upside down. I list and sell many short sales in Westchester County and beyond, so they tend to find me, but that still speaks to the fact that there are still billions in toxic assets & lots of people underwater out there. […]