Today was the annual meeting of the Westchester-Putnam Association of Realtors (WPAR), and it was not your typical annual meeting. Elections were held for both the Association and the Empire Access MLS, and Yours Truly was confirmed for a 3rd term as MLS Vice President. Among my duties in the past few months was to be on the committee to discuss the proposed merger of the WPAR, Rockland County Board, and Orange County Association (OCAR) to form the Hudson Gateway Association of Realtors (HGAR). Today, by an overwhelming margin, our membership approved the merger. 

There was a tiny burp of skepticism by a small few in the discussion phase prior to the vote, and the incendiary questions asked by those few did belie a rather stark lack of knowledge about the initiative. In a room of perhaps 1,000, I counted about 4 dissenting votes, however, and that was that. The consensus will be on the right side of history. Board mergers are a growing trend due to the economy and contracting membership, but the upside is far beyond mere cost measures. 

The new, larger association will actually save money by having more bargaining power for services as we go forward, such as our next MLS provider contract, VOW and IDX services, and whatever other value added things we can procure for membership such as lockbox services and maybe insurance (I can hope). 

The new, larger association will have a stronger voice in Albany and Washington, as state and US representatives in our midst will have more than a single county constituent trade organization voting bloc. Our NYSAR delegation will be larger and stronger as well. 

The new larger association will eventually have a consolidated Multiple Listing Service, which will save overhead for those companies that conduct business on both ides of the river. 

The new larger association will be good for consumers. Local Realtor associations are the voice of homeowners and their interests. We fight against onerous transfer taxes charged at closing. We are fighting to preserve the mortgage interest deduction. We fight to keep affordable housing mortgages available in the face of reactionary politicians who propose ever harder downpayment and underwriting requirements. Whether you wish to buy or want to sell, that is huge. 

I truly believe that if both rank and file members and consumers really knew how hard the association works to preserve their interests, public perception of our industry would undergo a renaissance overnight. 

What can you get for $540,000 in Tuckahoe, New York? I’m so glad you asked! $540,000 can get you a pretty, pre-war tudor on a quiet residential street in the Tuckahoe school district just a hop skip and a jump from New Rochelle and Bronxville. If you are like our client, you’ll get an 1840 square foot 3 bedroom with a deck, garage, granite and stainless steel kitchen and a ton of classic charm. 

Our client closed on the one pictured just this past week, and it also has a finished basement, beautifully landscaped yard, woodburning fireplace, formal dining room, den, and lots of period woodwork. We wish Mary many happy healthy years there and will definitely remain in touch. 

Tuckahoe is a great area to live. Located on the Metro-north Harlem line, it is an easy commute from both Manhattan and the Bronx. It is also located very close to all that southern Westchester offers- shopping and culture in Yonkers and White Plains, lunch in Scasdale or Bronxville, and striking distance to the Sound Shore. Log onto WestchesterDreamHome.com to find your own little slice of Heaven right here in The 914. 

I have often said that a good real estate broker is more valuable for what we know than what we do. This evening, for example, my meeting with some nice people in Yonkers brought this to light. 

I met with some prospective home sellers who were looking into selling a home that was built in the 1950s that had been in the family for over 50 years. While a solid home with excellent mechanicals and clear attention to good maintenance, cosmetically it would need updating. They preferred to sell “as is,” and I agreed that was the way to go but something still bothered Mr Homeowner.

I had to probe a bit, but his concern was a valid issue pointed out by no fewer than three separate contractors: In   two bathrooms, the light switch was behind the bathroom door when it was opened, which he was told was out of compliance. Aside from the inconvenience of reaching around to flip the switch, it was considered a safety issue. All three contractors, whom he met with separately, recommended having the switch moved to the other wall. This was a project he was concerned about. The expense was one thing, but the red tape with the city was another, as permits for this work could also trigger a headache. 

Three different contractors. 

There we were, Mr and Mrs Homeseller, and myself, sitting at their table. I asked a question.

Why wouldn’t you just switch the hinges so the doors open to the other side? Then the light switch will be right there, correctly. 

He looked at me. Then he looked at his wife. She looked at him. They both looked at me. 

That would work. Why didn’t we think of that? And why didn’t any of the contractors suggest it? 

I don’t know why they didn’t suggest it (although I have an idea!). But I do know one thing: re-hanging a door is far easier than opening a wall and moving electrical switches. And that’s how I “fixed” their electrical problem with no electrician, no permits, and no headache. I am not in the trades, nor would I pretend to be a contractor. But I have been around just a bit. 

I think we’ll do business. 

To find a home in Yonkers or anywhere else in Westchester, get a free account at WestchesterDreamHome.com and find a home with hinges on any side you like! 

Almost exactly 2 years ago, on October 14, 2009, we closed on my in-laws’ co op in Queens. It was the end of an era, as my wife had grown up in that apartment; it had been in her family for decades. That day, we had a babysitting challenge, and we were forced to bring our 2-year old son, Mark, to the closing in New York City. Like it wasn’t hard enough. If you told me that the buyer’s attorney was also going to be 90 minutes late for the closing on top of all that, I would have asked for an adjournment. But, there we were in an office, with a two year old, at a closing table for almost 4 hours. 

And the 2-year old was the best behaved person in the room. The whole time. Mark just sat there like it was business as usual, munching on his crackers and taking the odd swig from his sippy cup, and fell asleep on his mom’s shoulder just when they were passing out checks. 

Fast forward 2 years and 5 days- Mark is home with Dad for the day, and Mom is called out. There is a closing at noon with a client I have been working with for ages. And we have the same lawyer on our side as we did two years ago! 

So, off to Great Neck, Long Island we two men went, and Mark was again a well behaved guy. The closing was at the bank, and they just happened to have chocolate cake because it was the Big Cheese’s birthday. They asked Mark to try out the cake before anyone else to make sure it was yummy. 

And sugared up, the little guy was still a champ. 

He is clearly his mother’s son. 

(Consumers will find the following post either very boring or an interesting look inside baseball. My point of view is less of a selling broker and more of a manager of 20+ licensees.) 

Chris Smith, AKA Tech Savvy Agent, has authored a gutsy article on Inman entitled You Need to Delete Your Facebook Business Pages Immediately. The subject is controversial for a variety of reasons, not the least of which is that Chris himself has been one of the biggest proponents of business pages you’ll find. The post has already garnered almost 100 responses, and on the face (sorry) of it, seems blasphemous. 

Blasphemous perhaps, until one considers the state of the average business page. The average fan page is a dormant embarrassment that acts as a spam magnet, with no significant updates from the actual owner in a dog’s age. Frankly, I wondered aloud why Chris specified business pages only and didn’t also include dormant blogs and static websites with the same “under construction” message since the Bush administration. I have to smile when I stumble upon a blog that was last updated in March of 2008 after 6 posts. Is the person still in business? Do you think a consumer wonders the same thing? They do. They tell me. 

Want to make something happen in real estate? Do something…regularly. 

The only thing that succeeds purposely from inaction is the fermentation of wine. The rest of human endeavors require you to vacate the resting upon the bum and getting into action. And if you can’t type a few words, then please, yes, delete the page, because it does more harm than good. And when I say “page” I mean blog, business page or whatever else you have floating out there collecting dust (and spam). This is not to save bandwidth, it is to save your credibility. 

Our main business page is updated virtually daily via the Networked Blogs application that sends my blog content over. Another niche page has already yielded a deal with another pending, and gets over 1000 impressions per update entry. Both invite new registrants to our IDX home searches, and those inquires are distributed to our associates, who have an edict to follow up but never pester. And spam is zapped by the Administrative Goddess. I do not point to myself as an authority. I will not write a book. But neither will I redact my content. It is dynamic and works, because I work it. If you aren’t working it, take Chris’s advice.  You won’t get heat from the stove because you installed it. You get heat from the stove because you put wood in. Chop chop. 

Nothing works unless you work it consistently. If you want to make money by waiting, start a winery. Otherwise, work your stuff. 

Suggestion (and unsolicited pimpage): for a totally kickass business page, contact mi hermano Stephen Fells at Agency Logic, and they’ll build you your own little corner of awesomeness for a really reasonable rate. 

Perhaps you’ve had the pleasure of meeting Joe Sasquatch and his lovely wife, Nessie. I never have, but a former client of mine knows someone who either knows a mutual friend or knows OF Joe, but the details are not important. 

Joe, if you haven’t heard, is the guy who bought that $700,000 bank owned foreclosure a few towns over for $200,000. It was in mint condition- no deferred maintenance or structural issues. Somehow, the prior owner either bought it new or did a massive, high end rehab on the place (we aren’t sure), but lost the house to the bank before any deterioration took place, and in the serpentine process of Westchester County court red tape and administrative archipelago, the legion of bankers, lawyers, brokers, appraisers and contractors all overlooked how undervalued this completely renovated (or new, not sure) place was and it just ended up in Joe and Nellie Sasquatch’s lap. 

Apparently, The Sasquatch’s were the only bid on the place, and the story goes, they looked that REO agent in the eye (I have never seen 99% of our area REO agent’s eyes, for the record) and said “Well, does the bank want to keep the house or do they want our cash?” and BOOM. The house was theirs. $500,000 instant equity. 

Joe is no stranger to remarkable occurrences- I vaguely recall that , in high school, Joe narrowly escaped death by having his stomach pumped after ingesting Pop Rocks with a Sprite chaser. Rumor was that he died after his stomach exploded, but no, how could he be dead if he now lives in this great house he bought in, um, Scarsdale-no, Harrison- wait- Bronxville? Not sure. 

Besides, Joe was the guy who bought that short sale a few years back when he sent that email to the listing agent saying “Why doesn’t the bank just take our $100,000? Or would they rather have the house?” Word is that his email made it to the inbox of the chairman of Bank of America, who reportedly said “my God. He’s right,” and then personally drafted and signed the approval and release. Joe then resold the place for a huge profit after placing one ad on Craig’s list. 

I just wish someone would introduce me to Joe Sasquatch so I can ask him what his secret is. 

Have you met Joe? Or, like me, have you just heard of him? 

Let me preface this by saying I have no beef with the folks at DocuSign. They have an excellent product. This may not even be their doing, 

But it is now day III of “what are you thinking?” and I have yet to even get a response to an email I wrote them on the matter. Here’s the faux pas (with my own commentary added to the left), courtesy of Active Rain Ambassador Jo Soss:

There are some things you don’t joke about. Cancer. The Holocaust. And I would characterize the phrase “Freedom isn’t Free” as one of those things best left untouched, especially if you are looking for a cute play on words for an ad campaign. The phrase is a direct reference to the cost, mainly in lives, we have paid to enjoy the free society we have. 

Many of us have been touched by the ravages of war. I am the son of a veteran of both World War II and Korea, and since Memorial day I have had a pro-bono offer for a needy vet in the footer of my blog. My father was in one piece but clearly had undiagnosed PTSD. He won a bronze star but could never talk about it. You might know someone who lost a leg. Or their hearing. Or their life. All in the name of our freedom. If you know me, I like to kid around and I am a hard guy to offend. But this is stupid, and after emailing the lady who is Docusign’s presence here on Saturday with no reply, I am dismayed every time this ad pops up. 

My hypothesis is that some young copywriter and distracted supervisor rushed this to the sidebar without asking many opinions. But for many who plant a flag on the memorial of a loved one who died overseas or deal with catastrophic disabilities, this is kind of stupid stuff to put out. I guess it went through the Active Rain filter too. No matter, we are bringing it to your attention, so at least answer us. NAR should pay better attention as well. If my name were on an ad I would check it out really thoroughly. 

Here’s a thought: take it down and replace it with something not quite so offensive , then we’ll call it a day. It is a good product whose time has come, it will only grow, so why piss people off.

The 3rd quarter of 2011 was better in volume for single family home sales than the 3rd quarter of 2010 from a volume perspective, according to the data I found on the Empire Access MLS. And in comparing the years to date,  2011 is still “catching up” to 2010 and may indeed do so by the end of the year. 

If you have been following my observations of the market, you’ll know that 2011 started out far behind 2010 because of the bloated results of last year’s stimulus. However, I have postulated that because things fell off so precipitously after the stimulus ended in 2010 that 2011 could catch up with consistent production through the end of the year. 

Here are the breakdowns, both quarterly and year to date:

In the 3rd quarter of 2010, there were 1220 closings with a median price of $730,000.
In the 3rd quarter of 2011, there were 1326 closings with a median price of $684,005.

Obviously, median price is down, but I view $730,000 as an anomaly borne of both the stimulus, which had a closing deadline of September 30 last year.

In the first three quarters of 2010, 3178 homes closed at a median price of $645,000. 
In the first three quarters of 2011, 3039 homes closed at a median price of $630,000.  

Year to date, prices are down about 2%. At the mid point of 2010, we were behind 248 closings. At the end of the 3rd quarter, that number has shrunk to 139 transactions. There are three months left to close the gap, which would take about 46 closings per month. A whopping 656 homes are under contract or pending right now, but the median asking price is $499,000. If only half of those close, 2011 will easily surpass 2010 in transaction total but take a body blow with median sale price. I’ll bet the lion’s share of those 656 deals are actually short sales. If so, that could clog up the timeline. 

Some perspective:

In 2001, the first three quarters had 4216 closings at a median price of $459,000. 
In 2005, the first three quarters had 4762 closings at a median price of $680,000.

While a case could be made that median price reflects a correction of an irrationally exuberant spike and that values are where they probably ought to be, which is still considerably above that of a decade ago, transaction totals are down 25%.  That 25% decline is where housing decline lives. And yes, while median price is indeed rather healthy looking, how do you adjust for the 1000 people that got $0 for the homes which remain unsold? You can’t. We aren’t out of the woods yet, and it remains a buyer’s market for the foreseeable future. 

And for you lucky buyers, here’s what I’d do if I wanted to find a nice home somewhere in our fair county: Get yourself a free Listingbook account or log onto WestchesterDreamHome.com.

Update: The Meetup is set for Tusday, December 6 at 6pm at Toga Bar, Caesar’s Atlantic City!

For those of you in New York, New Jersey and Pennsylvania, the annual Triple Play convention will be held this December 6-8 in Atlantic City. I have gone to the last two and just registered for this year’s event. In light of the success we’ve had with the recent Active Rain meetups, the fun we had at AC Raincamp, and since catching up with each other at these events is usually a bit tricky, I am wondering if it wouldn’t be easier- and far more fun- to have our own event on the evening of the 6th or 7th? 

All we’d need is a room, which they have plenty of in Atlantic City, and maybe some help with food and refreshments. It would be great if we could get a sponsor to help with the arrangements. It doesn’t have to be anything fancy; just having a designated place (even a predetermined bar for that matter) one evening where we could all make an appearance, reconnect in some cases or maybe even meet in person for the first time would be an excellent addition to the itinerary. As a matter of fact, it might even make the difference in going to the convention or not for some if they knew that they would press the flesh with fellow active rain participants. 

The convention is huge- thousands attend, and there are events in the evenings that range from black tie galas to informal meetups at a watering hole. Frankly, wine and cheese with strangers isn’t my cup of tea. I’d rather hang with my peeps at least once in between all these events. Let’s make it so. Game? 

#ARTP11

What can you buy in Ardsley for $250,000? How about a nice condo at Ashford Court? The building was once a school that was converted to condominiums in the 80’s with splendid results- the old school yard is now a huge parking lot with 2 spaces per unit, and the structure has mad character and charm. The units enjoy high ceilings, individual heating and central cooling, LOTS of windows and natural light, and it goes without saying that they are in the Ardsley School District. 

The unit our client just closed on was a corner unit with a rear view, a very large living room, and a master walk in closet that deserves its own zip code. It is 940 square feet and has a very reasonable comon charge of only $308 per month. It is walking distance from downtown as well.

We wish Julie and Leah, who are friends and colleagues as well, many happy healthy years in their new home.

Find yourself a home in Ardsley or the surrounding areas with a free Listingbook account and search the MLS like an agent.