Mr May (I love saying that-it evokes an image of him on a calender in a Chippendale get up) has thrown down a challenge to me, sharing that my recent idea on blog radio (not really radio…it was the Interwebs) of making a game of things like blog subscribers has inspired him to catch up, and that I should watch my rear view mirror. 

The issue came up when Bob asked me how I stay motivated, as if 4 kids isn’t enough. I pimped the Active Rain point system as one source of motivation, getting comments being another, and then I opened my big yap and talked about getting subscribers. Alan, who I don’t even recall giving permission to tune in, has thrown down the gauntlet. It’s on. # 40 is Looking to surpass #34. 

I pointed out to Alan that Craig Daniels is kicking both of our tookases, and is ranked 14th on the planet for Active Rain scubscribers…with only 113 posts!!!!

As I am one of Mr Daniels’ loyal subscribers, I an attest to the fact that he puts out extremely valuable content. Every post teaches me something new and often a little inspiring.

So, Mr May (whom I also subscribe to…), challenge accepted. I for one aspire to catch Craig. That’s my game. And I’ll aspire to do it the way Craig does, by producing good content with no tricks or shenanigans. Just the best blogging I can produce.  

By the way, to keep myself engaged, I have added a few new buttons to my footer! I’d really love everyone’s input ! 😉

I am told that Westchester County property taxes are the highest in the nation. After reading this article in the New York Times on the effects of tax grievances in the County, I was inspired to make the following comment:

 People aren’t grieving their taxes because of the companies selling the service; companies are selling the service because taxes here are insane. 

What the article fails to address-astonishing, really, considering the subject matter- was the feeding frenzy of the town governments when the market was hot. They’d raise your taxes to the tune of 50% in 10 years, but when values went down they weren’t very interested in making corrections downward. Municipal and school budgets got bloated in the madness as well, which never should have occured. God forbid you build a deck or add a bathroom- they would hammer you. 

Many of these grievances are new homeowners saddled with assessments that are six figures higher than their purchase price. It could be far worse- most towns valuations assessments are decades-old figures that require a complicated equilization to translate to real market numbers. If more people saw the real numbers, appeals would spike.

There were other comments worth reading and I highly recommend checking out the editors choices. This guy was particularly compelling, asking the Times to just stop covering Westchester because their coverage was just off. 

The NY Times does, in my view, have a peculiar view of my county, and it seems hard to believe we border New York city at the Bronx. Westchester has plenty of affluence but we also have lots of working middle class property owners who are getting hammered with assessments that do not accurately reflect market value. The notion that we should just pay them anyway because, heck, we’re rich right? is insanity. 

Moreover, the suggestion that tax appeal companies are driving the high number of grievances is also incredibly obtuse. That is supply-side economics, an anathema to the Times. The companies aren’t creating the demand for lower taxes, the high taxes are. I don’t know the exact percentage of my buyer clients who do so, but plenty of them grieve their taxes as soon as they close, because their purchase price is far under their assessed value. 

I’m a foodie for sure. One of the great things about Westchester County is our vast array of incredible cuisine, and other than a good steak house my preference will always be Italian. This past week I had the good fortune to enjoy lunch with a fellow broker at Angelina’s of Tuckahoe, a wonderful place right in the middle of the village a stone’s throw from the train station. 

Angelina’s has plenty going for it: a pleasant atmosphere, and terrific wine list to be sure, but the most important things to me are food and service. I had a menu in my hand as soon as I settled in my seat, and the lunch was fantastic. The owner was right by the door greeting people as we entered, and from the moment I walked in to when I left I felt like I was in a place that earned a return visit for dinner. I love that- no drama, no apologies, no excuses, just excellent dishes and servers on their game. 

Angelina’s also caters, offers takeout, and does private parties. Lunch is served daily and they close at 9 on weekdays and 10pm n weekends. They are located at 97 Lake Avenue, Tuckahoe, NY 10707 and you can call ahead at 914-779-7944. 

If you are in Tuckahoe and are hungry, make this your first stop. 

There is nothing in the water in New Rochelle; this is just an English Mastiff, all of 250 pounds, that I met this past weekend while showing its master’s home. I have never seen a dog this big. Never. He was just huge. This pooch was quite a gentle giant, however, and happily let me pet him. Everything about him was big- his head, his PAWS (HUGE!!!) and his gentle demeanor filled the space too.

As we left the house , my client (also a dog lover) and I reflected on the sheer hugeness of that dog. He’s three of my dog Max, a big German Shepherd in his own right, and four of her chocolate Lab.

When we discussed the house and the slight slope in the octagenarian floor upstairs, I speculated that maybe what they really needed was to have the dog spend more time on the other side of the house.

I know he may have distracted us, but when you see a dog this special, you never forget it.

New York Foreclosure Settlement Conferences

I attended a foreclosure settlement conference today with a client whose house is listed with my company as a short sale. There was some understandable anxiety about the event, so I went to be a supportive advocate. As daunting as the name may sound, they are in place to ensure that the borrowers have their rights respected in their dealings with the lender. It is a good thing, and nothing to be afraid of.

The set up is simple: the borrower and an attorney from the bank will meet before a court appointed referee to come to a mutually agreed upon decision as to how to deal with the borrower’s defaulted loan. The borrower can be attempting to modify their mortgage, a short sale, or another option. The referee’s job is to make sure the bank acts in good faith, and having been to a number of these conferences I can tell you firsthand they do a great job.

The bank attorneys are not bogeymen either. More often than not they are from the firm contracted by the lender to pursue a foreclosure, but their posture is not that of a collector or heavy; they are there to make sure the lender is upholding their side of the bagain, such as acknowleding receipt of documents, and doing their best to get reasonably timely responses.

The referees I have dealt with in both Orange and Westchester counties have been very good also. They are fair, quite understanding, and reasonable. Governor Patterson signed the law ensuring defaulted borrowers rights to these conferences in 2009. Say what you want about the man, but this is a good thing for the citizenry, and a credit to his legacy.There is a clear intent at these conferences to not have confrontations or intimidation. It is as compassionate as I have ever seen court workings go.

As it turns out today, the bank attorney was detained in traffic and we adjourned for 90 days. The referee told us he wanted us to have time to get a buyer and begin the short sale process with the lender, and I appreciatd the gesture. I know that the next time we meet that he’ll ask us about our progress and ensure we have an opportunity to get the deal done without undue fear of being ignored or trampled.

Excelsior, New York. I have my beefs with Albany, but they got this one right.

I’ve seen crazy stuff in homes before. I really have. I’ve seen a basement pool table filled with sand and hundreds of plastic soldiers carefully placed upon it to re-enact a battle in the Civil War. I’ve seen people who had more photos of their kids than exposed wall. Nude art? Dime a dozen. Personal documents lying about? Plenty of times. 

One memorable thing we recently ran into was a huge number of shoes in a room apparently devoted entirely to, well, shoes. I smiled at the sheer volume of shoes; I laughed at my client’s reaction when she walked into the room. 

It may come as no surprise that when buyers leave a house like that they remember the shoes and little else. I have actually walked through homes that I thought were perfect for the folks but all they talked about after getting back into the car was the shoes, or the photos or the stack of adult videos in the master bedroom. 

Marie Graham, stager extraordinairre says it best: how you live is different from how you sell your home. If a client mentions Imelda Marcos after leaving your house instead of asking me what I think they might accept for an offer, you just lost a potential sale. And for a $500,000 list price, I wouldn’t want to be in your shoes when that happens. 

I will be holding 3030 Johnson Avenue, Unit 2G open today, May 7 from 1-3 pm. The unit is a very cute 1 bedroom starter with an updated kitchen and bath, dining area, and spacious open living room. Riverdale is truly one of the jewels on the crown of New York, with a fantastic walk value, incredible proximity to Manhattan, and lots of local attractions. Ewen Park is right next door.  

The unit is is priced at $149,900 with common charges of just $545, which are 50% deductable. Questions? Just call 914-450-8883. MLS ID of the property is 3107459. 

I was referred by a current client (I love referrals) to a family member who wanted to know what his condominium in White Plains might be worth. It is a nicely renovated unit he bought last year, but it is in a small building with fewer than 50 units and was built prior to World War II (we call this a “pre war”). We met this evening at the apartment and went through market activity on my laptop together. 

After evaluating what he bought it for, what was spent on updating it, the closing costs he paid for his purchase and the costs of selling, my advice was to stay put for now. He told me that he appreciated my honesty, because I made no money in giving that advice. 

Yes and no. I may not make a commission in the short run, but in the long run I have to do right by everyone. Do what’s in the best interests of the client and business will come from it. That’s how we’ve built the company. 

When it is time to sell, we’ll work together. 

We have had the good fortune to receive some cash offers submitted on company listings recently. Cash is nice; no mortgage, no appraisal, no banks, and fewer headaches. Agents who submit a cash offer have every right to be enthusiastic and upbeat about it.

However, there is a peculiar trend among cash offers which perplexes me, and consumers should understand this if they are in a position to make a cash offer.

A Cash Offer without proof of funds is toothless.

On more than one occasion, I’ve had these offers submitted sloppily with sparse terms and no proof of funds. In one instance, the agent submitting resisted the need, saying that once we have a meeting of the minds that proof of funds would be provided. This is about as logical as offering a wood stove a log as soon as it gives off some heat.

The idea that the buyer is some CIA operative or secret celebrity is foolish. The truly affluent often buy in a corporate name. What’s the big secret? Do you think the seller cares who the buyer is if they bring cash? All this nonsense about privacy does not preclude the basic protocols of business and good faith. It’s just a silly annoyance.

Sellers want to see the money in the account. You can black account numbers if you wish, but the benefits a cash offer give the buyer cannot be enjoyed if you cannot furnish proof that you are in fact a true cash buyer. Once an offer is accepted in principle, I have certain responsibilities of disclosure to other perspective buyers and if a bona fide offer is scared away because of an impostor, my sellers could suffer financially. That isn’t cool, and it isn’t good faith. It is subterfuge.

It takes 3 minutes to photocopy a statement or print something off your online account. You black out sensitive information with a sharpy and you are ready to do business. Consumers, if they want the best chance of getting  the deal, should insist that their agent provide their proof of funds if they want the deference that cash terms often enjoy.

My sellers will not respond to offers without proof of funds. Buyers should understand this, and act accoordingly.

Do you like privacy? 

Looking for that quiet getaway? 

Are you security minded? 

Perhaps you seek a nice pied-à-terre. Maybe you hate schlepping out the garbage all the way to the end of the driveway twice a week. 

Did you hear that the Hamptons and Catskills are “out?”

I have just the place for you. 

That’s right, a new opportunity has come up in Abbottabad, Pakistan that is a cool bargain at $1,000,000.00. Just 6-years young, this 3-story battle-tested mansion is just a stones throw from Pakistan’s national military academy and just became vacant this week. Sitting on a level acre with a privacy fence, it borders tranquil farmland and is perfect for an in law setup and plenty of guest space for out of town visitors. 

Some other amenities include mountain views, a balcony with a 7-foot wall (can you say safety?) and really solid gates. 

There is also a great area to incinerate your garbage – no more skunks or racoons knocking down your trash cans! 

The place has great bones, but does need some touching up; some carpets might best be replaced, a few wall holes to spackle, but the potential is enormous. Not only that, the place has had only one owner! 

Just this past week a helicoptor landing pad was installed (not warranteed, buyer should attend to their own testing and due diligence. Owner disloses some fire damage). 

* Please note that appraisal is subject to review.

* Please note that buyers broker to be paid by purchaser.

* Not approved for FHA financing.

* Phone and Internet not yet installed, but HEY! It’s virtually a new build!!!

Interior photos not yet taken, but why wait?