Gizmos Drive Me Crazy. 

16 short months ago, I bought a Netbook laptop with a 3g Internet connection. It made me a tech savvy guy. I would see a client at their home and watch their jaws drop as I logged onto the Multiple Listing Service and produced a market analysis right before their eyes. There were huge advantages to this (and still are), but I got a dose of reality when Santa Claus left my wife her iPad this past Christmas under the tree. 

Watching Ann swipe her fingers along the iPad like a harp while she relaxed on the couch made me feel a twinge of envy. The Netbook was a little more work than that. It got the job done, but was more clunky. The advantage the Netbook had over the iPad was that it had the Internet connection- Ann’s device was Wi-Fi only on the home Network, so I had to buy a hot spot for it. 

Oh, by the way. If the jargon is beyond you, I am jealous. I’m not sure I am happy I understand all this stuff. I have a feeling that there is no voicemail, fax or cell phones in Heaven. 

So anyway, add my smart phone to the mix also. That gets me onto the Internet for many functions, such as my calender and email, but not when I am actually on a call. 

Are you starting to see some catch-22’s? It gets better. 

If someone calls me on my cell to come see their house while I am out of the office or driving, I have to ask to call them back to put them in my calender. That is not ideal. And opening my Netbook laptop in my car isn’t my idea of convenience, it is more like an inflamed bowel. Up until yesterday, I’d have to hang up on a live prospective client or conference Ronnie at the office in the call to schedule our meeting. Not ideal. 

I needed a better device to pull everything together. I thought of an iPad 2 (which ironically makes our iPad obsolete and renders the Netbook…what? stone age?), but also considered a Samsung Galaxy Tablet. 

The problem with these devices is that they cost an arm and a leg without a data plan, and I already had a ton of data contracts attached to outdated technology! It is like a maze trying to figure out how to have the right technology with the right data plans without having to spend a king’s ransom. WHY DO COMPANIES LIKE VERIZON LOCK US INTO LONG CONTRACTS FOR DEVICES THAT WILL BE OBSOLETE LONG BEOFRE WE ARE ELIGIBLE FOR AN UPGRADE?

Yesterday, however, the nice guy at the Briarcliff Manor Verizon store handled me big time. I got the Galaxy Tab for $199, transferred my Netbook’s 3g to the Tab, transferred my hotspot to the Tab also (allowing everything I own to get on the Internet anywhere), and now I am good to go- everything is still usable but I am caught up on functionality. A guy called today to schedule a quote for his house, and I pulled over while on the phone, put him on my schedule via the Samsung Tab, and drove home. Nothing else to do. And that is what I want. Simple. 

Anyone else wish we could go back to simple? 

I had the pleasure of helping a new agent get his very first listing tonight. It was our second time at the kitchen table of this particular seller, and it was a textbook case of my standing offer to all my guys: Put me in front of your prospects and I’ll get you their business. 

And there we were, going over the listing agreement for them to sign and hire us. 

Suddenly, the dreaded paragraph 13 reared its ugly head. The shock! The horror! 

What is paragraph 13? The part that says if they cancel that there are consequnces. I can retain my right to my commission. I can bill them for expenses incurred if they terminate me before the end of the term. Horrible right? 

“Why can’t we break the contract? Why would we be penalized?” 

Because if you could break it with no consequences as if it never existed, it wouldn’t be much of a contract, would it? 

They signed. 

I have barely had time to notice Active Rain’s server issues because of a frantic past two weeks in my own little corner of the world. Among many things, I had to take two days and drive to Rochester, 300 miles away, to handle some business with some properties we own. Like any busy broker, getting away in April is difficult. 

There is an art to driving 300 miles in a minimum amount of time without speeding. I used to make the drive frequently when Ann and I were first dating, and one of the keys is to not stop very often. 

The other key is to not doze off. Coffee is great for staying awake, but awful if you don’t want to become Joe Rest Stop. So, playing with body chemistry, you eat beef jerky. It is genius- caffeine to stay awake and salty beef jerky to dry you out and combat the diuretic effect of the coffee. You fight one catch-22 with another catch-22. I can drive 5 straight hours and not stop until I get home. But I typically stop once to stretch my legs. And buy more coffee and beef jerky. 

I’m glad to be back home. I was told the dog was out of sorts and slept in front of the door, and my kids missed me. All the while, I had to manage the goings on back home. Among the challenges were a listing we have under contract that was appraised in late March. Like many in our market, we have to sweat out appraisals, but it came out fine.

Just this week however, the underwriter asked for more comparable sales, which we provided. Requests like this are worrisome, because it starts to feel like the lender is looking for an excuse to not make the loan. Nobody likes the suspense, and it was particularly a weight on my shoulders because I assured all parties that we would not under-appraise. I found out just today that everything is OK with the file and it should be closing next week. My clients, whom we listed  in October, can exhale. So can I. 

Everything seems to be harder in this climate. Buyers are more cautious, news is bleak, and lenders seem more strict with each passing week (why couldn’t these dopes be 1/8 this careful back in 2003-006??). It’s like trench warfare; you pay for every foot advanced with hard work and sacrifice. All the while, you have to figure out solutions to problems that don’t create new problems. 

Stock up on coffee and beef jerky. 

How to Submit a Low Offer on a New York Listing

What is more compelling to someone selling a home when presented with an offer on their property:

1. A voicemail     or
2. A well written offer sheet complete with a cover letter, proof of funds, pre approval and specific terms

In this busy spring season, I have been asked to present by buyers and been presented by colleagues on my listings, LOTS of low offers. The company has 60 listings and it is April. Do the math. 

Is a sale any less valuable if a broker or manager steps in and helps?

One thing I appreciate when I assist members of my firm in their transactions is that my guys truly care for their clients. It certainly shows in their actions, and I have the front row seat as broker to see how they approach things when they return to the metaphorical corner between rounds. I am asked for advice. I have scenarios run past me. They pick my brain. 

This past week, no fewer than three of my agents (well, one is an associate broker) have engaged me very in-depth as to how to best serve their clients. One needed to present an offer to a difficult listing agent on a short sale. Another is in the midst of getting her client through the board approval process for a co op purchase, which isn’t easy. You get the picture. 

In many cases, I have to do more than dole out advice. I have to call a lawyer. I conduct a conference call with a client. I de-claw a rigid agent on the other side of a transaction. I intervene to get the deal done on behalf of the client. Often, my team members feel a little bad that they needed me to step in.  They shouldn’t feel bad. On the contrary, it is good advocacy. The measure of our success isn’t how much or how little who did what. It is the welfare of our clients. 

Yesterday, I had an attorney tell me that if my agent felt an offer on a short sale was good enough to get approved, that was good enough for him. That made me feel good. Today, a client said that they were so impressed with how Vivian took care of them that if she thought they should follow my advice, then they would. Wow! That made me feel great. I wasn’t the big shot broker stepping in; Vivian was the expert endorsing my contribution! 

I love LOVE LOVE how well my team takes care of their clients. I am honored to be their broker, and if they ever need help of any kind, it is really my pleasure. And when we win, it is their victory whether I step in or not. 

Like many associations across the country, our own MLS had a moment of silence at our monthly meeting yesterday in memory of fallen Realtor colleague Ashley Oakland. The news has been a bitter pill to swallow for agents all over the USA, and I can’t fathom her loved ones’ grief and suffering. 

Today’s news informed us that a search warrant has been issued in the investigation, which remains ongoing, with no arrests at this point. The details are sealed, which is just as well. I don’t care about the details as much as I want to see justice served. 

Ashley was buried this past Thursday April 14, and according the the news more than 1600 people attended the services. She was eulogized by her sister Brittany. I eulogized my late brother, and I know firsthand that it must have been extremely difficult for Brittany. 

Folks, if you don’t have a safety and security policy in your office, get one. If you have one, review it with your team. We cannot afford to lose anyone else. 

Two follow up pieces of news on topics I have blogged on recently: 

1. Ossining voters have overwhelmingly rejected the $69,000,000 bond proposal for the expansion and renovation of the school buildings. I wrote a piece voicing my own opposition to the proposal, and evidently, other school district voters agreed with me by a 57%-43% margin. Over 2000 voted no, a little over 1500 voted in favor. 
2. On April 8 I wrote a post supporting the closure of Sing Sing Prison in favor of more suitable use of the land. The news that local politicians were asking Governor Cuomo to close the place was the impetus for the piece. Unfortunately, the Journal News ran a story today on why that closure isn’t likely. I can’t say that I am shocked. 

I read the NY Times far less because of the paywall, but today’s editorial brings to light a new problem with big lenders embroiled in the robo-signing scandal: they are already making a backroom deal for a slap on the wrist and permission to continue with business as usual. The banks gameplan that they are “too big to fail” is back in play, and their powerful lobby is making the Obama administration guilty of complicity that makes the Bush administration-Haliburton connection so deplored by the left a few short years ago look like a church tag sale. 

Here’s the irony pointed out by 60 Minutes last week and yours truly when the robo signing scandal first broke: How is it that entities which wouldn’t lend a dime unless the borrowers papwerwork was absolutely, definitively complete, be allowed to cut so many corners with their own paperwork? If a borrower in a judicial state faces foreclosure and their adversary is allowed to produce forged paperwork in court, how can they be getting their constitutionally guaranteed due process? 

Here’s the irony of ironies: Most clients of mine who are facing foreclosure aren’t deadbeats, they are simply victims of the economy that the banks themselves ruined. Their business failed. They were laid off in budget cut backs and downsizing. Many were honorable to a fault, depleting their life savings and even their retirement assets just to do the “right thing” and pay their mortgage obligation until there was simply no money left. These people deserve that every piece of paper in the banks case against them be 100% legitimate. 

I am a registered Independent because I am repelled by different things on both sides of the ideological fence. But the one thing I thought that Obama would do is hold big banks who made the mess accountable. But as the NY Times points out, politics as usual where banks are concerned knows no political party. 

My father would have been 91 this September. He spent 6 plus years overseas defending our nation in World War Two in the South Pacific and in Korea, where he earned a Bronze Star at Inchon. He helped keep our nation great. And with a few signatures on an illicit bill, some political hacks and lobbyists will attempt to unravel his sacrifices. Shame on them, and shame on us for allowing it.  

I seldom re blog posts from other authors but this piece by John Mulkey is sound advice that more people should consider. All too often, I’ll show a home that was bought at foreclosure and rehabilitated in a manner that addressed cosmetics but left mechanicals and structural matters in a dubious state. 

There is a certain type of buyer who is looking for a turnkey property. They have no appetite for doing restoration work and just want to move in. New kitchens and baths, fresh paint and refinished hardwoods influence them strongly, but in these cases a home inspection is even more crucial to dtermine if the rehabilitation was superficial or masked more expensive problems down the road. 

Here is some good business advice for both colleagues and clientele alike: Put something in your email subject line whenever you send something. And and don’t make it “For Phil” or “Attn: Phil.”

Getting an email with nothing in the subject line is a minor annoyance. But it can also be expensive. Here’s why: 2 weeks or two years after an email has been sent, it may need to be retrieved for a variety of reasons. It could be a phone number, the confirmation of a the date of a showing, or one of a thousand other bits of needed details that can’t be sifted out of the enormous inboxes we have without some sort of detail, such as an address or other specific. 

The way cloud computing is becoming more prevalant, I can search emails on my smartphone. This is a huge gamechanger-IF, and think of the GIGO principle here, IF I have the necessary word, address or specific to index. If I am searching for an email one of my clients or agents sent me for example, I could have years worth of correspondence to look through if all the subject lines were blank. You can search body text, but if 50 emails come back with (no subject) in the line, time and money are lost. 

The subject line is there for a reason. Use it. 

Wednesday’s Journal News has a front page story on Ossining politicians urging Andrew Cuomo to close Sing Sing Prison. As a native of Ossining who worked a block away in a neighborhood market for years while in school, the idea gets my attention. Would closing Sing Sing make sense? Would it benefit Ossining? 

It is an intriguing thought. Sing Sing has been there since the early 1800’s. It employs 824 people. It is a piece of history. But it is also a product of a bygone era when putting prisons, landfills and nuclear power plants on prive riverfront real estate wasn’t viewed as a bad idea. And when Sing Sing was built, it was considered to be in a distant and sparsly populated area. It is now in the middle of the village of Ossining. 

Ossining loses $500,000 in taxes because of the exemptions on government -owned Sing Sing. I don’t know anyone who is excited to have a maximum security prison in town, and that includes me. Few if any of the 800+ employees live in Ossining. From that point of view, and the tax angle, it does not contribute to the Ossining economy. 

I used to work counter at Southside Market on Spring Street about a block from Sing Sing. Most of the prison guards as they were known then (they are now referred to as correction officers) did not  live locally. Most COs lived out of the county, and their only contribution to local commerce was a pack a cigarettes and the sandwich I made for them. I suspect that little has changed. No CO lives near me to my knowledge. 

If a new prison were to be built today, it is inconceivable that they would choose prime waterfront property in a dynamic suburban village for the location. If this is the way they want to reboot the prison system, I say close the thing and let Ossining benefit. Develop the bulk of the land to make the highest and best use of waterfont property and turn the original, smaller cell block into a museum. That will ease the tax burden on the rest of us and give us new neighbors. In as much as I like to have fun with my proximity to the Big House, I’m all for it being a memory. 

I arrived back home to Briarcliff Manor tonight after returning from Rain Camp Atlantic City and two days of intense instruction. My first Raincamp was excellent, but also different. There was so much information in the new-two day event that I am exhausted from being engaged and focused for so long. It is a “good” tired, believe me. But more than tired, I am thankful to the good folks at Active Rain who have taken the time from home and family to travel all the way out here to share their knowledge with us. I am humbled.

I am grateful to Kerrie Greenhalgh  for asking me to be on the success panel. I am owe a debt of gratitude to Kelly Pflugrath & Kelly Clifford  for their tireless work on making the event go smoothly.

A big thanks to Bob Stewart, Steven Graham, and Brad Andersohn   for their outstanding instruction, energy and leadership. Steve’s energy and mastery of the material was incredible, and Brad’s enthusiasm was contagious. Brad also gave me a great idea for a blog post that already has 800+ clicks. 

I am so grateful to Katerina Gasset for hitting a home run in her keynote instruction on Day 1. It was informative to the max, and I have been immersed in this thing for over 2 years. I can only imagine what a new member got from her.  

A big thanks to co panelists Gerry Michaels and Dagny Eason for being awesome.  It was so great to meet so many fellow members for the first time and to catch up with others.

Tonight I’ll sleep, but tomorrow I start putting this stuff to work. 

This is the market report for single family homes sold in the Croton-Harmon school district for the first quarter of 2011. All information is sourced fom the Empire Access Multiple Listing Service. 

In the first quarter of 2011, there were 15 closings with a median sale price of $540,000. 

In the first quarter of 2010, there were 11 closings with a median sale price of $542,000. 

4 additional closings at about the exact same median is a step forward over last year. Median price is only $2000 different-negligible. Croton is enjoying what appears to be a robust Spring. 

9 homes are currently under contract at a median asking price of $550,000. This tells me that the activity is not letting up- buyers are making deals. 52 homes are active on the market and available, so buyers don’t have the huge inventory to choose from as other places. 

If you’d like to search for a home in Croton or just see where home values are going, get yourself a free Listingbook account and search the MLS like an agent. 

Previous posts on Croton are here. 

This is the market report for single family homes sold in the Chappaqua school district for the first quarter of 2011. All information is sourced fom the Empire Access Multiple Listing Service. 

In the first quarter of 2011, there were 15 closings with a median sale price of $946,500. 

In the first quarter of 2010, there were 17 closings with a median sale price of $900,000. 

I would characterize this as about even with last year. Median price is certainly up, but we’re two sales behind. Chappaqua is stable, which is not surprising for such a nice place. 

21 homes are currently under contract at a median asking price of $787,000 (one of them is  mine!). People are coming in and making deals, albeit on the less expensive side of the market. But sellers are packing. 142 homes are active on the market and available, so if you are interested in seeing what is available you’ll have plenty of choices. 

If you’d like to search for a home in Chappaqua or just check home values, get yourself a free Listingbook account and search the MLS like an agent. 

Previous posts on Chappaqua are here. 

This is the market report for single family homes sold in the Briarcliff Manor school district for the first quarter of 2011. All information is sourced fom the Empire Access Multiple Listing Service. 

In the first quarter of 2011, there were 14 closings with a median sale price of $617,500. 

In the first quarter of 2010, there were 9 closings with a median sale price of $625,000. 

Things are looking up in Briarcliff. There is almost no difference in median price, but sales volume is up 55%. This is especially pronounced when one considers that 2010 was a stimulus period. There is no tax credit now.  Was there pent up demand? It would appear so. Whatever the reason, I’ll take it. 

6 homes are currently under contract at a median asking price of $734,500. There are 36 active listings available. That is a healthy inventory, and we’ll see if the second quarter continues the positive trend. 

If you’d like to search for a home in Briarcliff Manor, get yourself a free Listingbook account and search the MLS like an agent. 

Yes, our firetrucks are white!

Previous posts on Briarcliff Manor are here. 

This is the market report for single family homes sold in the Ossining school district for the first quarter of 2011. All information is sourced fom the Empire Access Multiple Listing Service. 

In the first quarter of 2011, there were 28 closings with a median sale price of $369,500. 

In the first quarter of 2010, there were 44 closings with a median sale price of $442,000. 

These are significant differences. I stopped doing monthly market reports because 30 day spans in these small communities had results all over the place. Quarterly reports had more statistical significance. Therefore, the decline in the number of closings and the lower price is not an anomoly. 

23 homes are currently under contract at a median asking price of $449,500. This bodes better in terms of prices, but with 135 listings active and available there is still a huge imbalance in  the favor of buyers. 

It remains to be seen if we are indeed in the midst of a double dip. 

One thing is for certain: Now is a good time for buyers. If you’d like to search for a well priced home in Ossining, get yourself a free Listingbook account and search the MLS like an agent. 

Previous postings on Ossining are here. 

The Sing Sing Gated Community… Our Residents Just Can’t Leave! 

If you’re like me and you love waterfront property, privacy, terrific security and and homeowners association that doesn’t admit just anybody, the Sing Sing Gated Community might just be for you. 

Nestled on the banks of the scenic Hudson River in downtown Ossining, New York-my hometown- the Sing Sing gated community occupies 130 acres of prime riverfront real estate just a stone’s throw from the Metro-North train station. A mere 30 miles from Grand Central, Sing Sing is “up the river” as they say from Gotham, a short ride on the Metro North Hudson line. Of course, it takes more than a train ride to get in.  

Sing Sing is one of the oldest gated communities in New York (and the USA) and was actually built by the original residents! The Homeowner association president is actually known as the “warden” which gives the HOA a quaint charm. Among the amenities, the “longest mile” was originated here and is a popular feature in similar gated communites in Texas. 

While not a co op, residency at the Sing Sing Gated community does require board approval. There is also a minimum down payment rule, which actually tends to vary with the credentials of the applicant. Some characterize the down payment as an arm and a leg, others dismiss it as highway robbery. Despite the unique standards, there are seldom any vacancies. 

Actually, when I was a kid I remember the lights flickering in our neighborhood briefly and then there would be a vacancy the next morning, but that was a long time ago and the details are sketchy. Unlike a co op where residents get a proprietary lease and condos, where you get a deed, residents of sing sing are issued a “sentence” which I am sure dates back to New York’s old dutch roots. 

Security is what any gated community offers, and the Sing Sing Gated Community really excels in this area. They pride themselves on having 24 hour doormen- 1700 of them actually- friendly security, numerous towers with additional concierge staff to help residents find things like lost contact lenses, chipped teeth and the like, and they even have a physician and clinic right on the premises! Not only that, the Sing Sing Gated Community is an “all inclusive” place, with 3 meals a day served 365 days a year. They also have a library, a ball field, and “old school” physical fitness offerings, such as group calisthenics, “balls and chains” and even throwback marble and mallets! 

The concierge staff, especially the ones in the towers, are very protective of their residents’ privacy. As a matter of fact, when I took some of these pictures, one of them yelled at me and threatened to stuff my camera somewhere painful, and all I could think of was what a swell guy he was for protecting his people’s privacy like that. I’ll bet the residents really love that guy. 

Like many exclusive neighborhoods, the Sing Sing Gated Community has had many famous residents: David “son of Sam” Berkowitz, Julius and Ethel Rosenberg, and Lucky Luciano. The community is very selective about who gets residency here, and none of the openings are on the MLS. So, if you’d like more information about how to become a resident at Sing Sing, send me an email or call your local parole officer. 

Next week: 

Want an island getaway? Why not Rikers? 

Related posts:

“The Sing Sing Triathalon: Dig, run, swim.”

Happy April 1st!

I am quoted in this article released by the AP today on the state of the housing market. The thrust of the piece is that we aren’t out of the woods yet with prices. Distress sales are supressing values, inventory is giving buyers more choices-and moxie- and sellers are left to absorb the crisis of confidence. 

The survey of views from around the country seems to paint a rather consistent picture that what I see is a view shored by observers in other parts of the nation. Sellers are often having to reduce their asking price to get views, field low offers, and make accomadations to make deals work. 

The last quote of the article is from one of my clients, who made good copy. You should click and read his remark. Anyone who knows me will laugh at the words they read, and will likely agree that we often list people with similar personalities to our own. When a reporter ends the piece with your quote, that is high praise. My guy nails it. (I did not represent him years ago on his purchase, by the way).