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 You May Be Paying Too Much In Property Taxes

They are supposed to be based on current market values. When you buy a home in any of the Westchester County cities, towns and villages, the tax base resets at the value you paid, whether it is higher or lower than the previous owner's tax bill.

Sellers in Westchester County, NY, often think Spring or Fall is the best time for selling a home, however circumstances sometimes require homeowners to put their property on the market during the Winter. Read on for important tips to help you prepare your home

Verbal promises are not legally enforceable when it comes to the sale of real estate. So, before things go to far down the road, you need to enter into a written contract, which starts with your written proposal. This proposal specifies:

  • Price
  • All the terms and conditions of the purchase

For example, if the sellers said they'd help with $1,000 toward your closing costs, be sure that's included in your written offer and in the final completed contract, or you won't have grounds for collecting it later.

REALTORS® usually have a variety of standard forms (including Residential Purchase Agreements) that are kept up to date with the changing laws. When you use a REALTOR® these forms will be available to you. In addition, REALTORS® cover the questions that need to be answered during the process. In many states certain disclosure laws must be complied with by the seller, and the REALTOR® will ensure that this takes place.

Maximizing your home value should be top on any home owners list. It is usually much easier to keep things in tip-top shape versuse letting several items go and then having to play catch up and feel overwhelmed. Have a look at 3 simple items to help you on your way.

Great information for those searching for Westchester, NY Real Estate.

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There are many questions.

  • How do you set a price? 
  • What comps do you look at? 
  • How do you find a real estate agent to work with? (Or should you try selling by yourself?) 
  • How will you (and your agent) market your home? 
  • How do you sell your home on the Web? 
  • How much can you expect to make from the sale of your home? 
  • How do you negotiate with a buyer? What about the agent's commission? 

And then the big question: Where are you going to move to and how will you coordinate your sale and your purchase (or move to a rental) at the same time? 

With such a plethora of questions, it's easy to feel overwhelmed, but choosing a local Real Estate guides are designed to take you through the process step-by-step. With renowned experts in home sales and staging helping you discover new sources of value in your home-hidden in your kitchen, bath, and even your front yard. A good local Real Estate representative will give you helpful advice so you can can learn how to increase your house's curb appeal and get your house sold, no matter how up or down the housing market may be.


white_plains_home_1.jpgWESTCHESTER COUNTY, N.Y. – Monday’s second quarter residential sales report from the Hudson Gateway Association of Realtors indicates a sustained recovery is underway in Westchester and other counties targeted in the report, according to several real estate experts.

Sales volume increased 24 percent from a comparable period in 2012 for Westchester, Putnam, Rockland and Orange counties. The median sale price in the second quarter jumped 5.0 percent for Westchester homes, the highest second quarter median since 2008.

“We’re in the beginning stages of a sustained recovery,’’ said Phil Faranda, the vice president of the Hudson Gateway Multiple Listing Service. “Consumer confidence has returned. The framework for people returning to the market was due to pent up demand. It’s been a long time coming. People are going to live their lives and put down roots.”WESTCHESTER COUNTY, N.Y. – Monday’s second quarter residential sales report from the Hudson Gateway Association of Realtors indicates a sustained recovery is underway in Westchester and other counties targeted in the report, according to several real estate experts.


With 11 months of data reported, 2012 will clearly go down as a record year for favorable housing affordability conditions, and a great year for buyers who could get a mortgage, according to the National Association of REALTORS®.

NAR’s national Housing Affordability Index stood at 198.2 in November, based on the relationship between median home price, median family income and average mortgage interest rate. The higher the index, the greater the household purchasing power; recordkeeping began in 1970.

An index of 100 is defined as the point where a median-income household has exactly enough income to qualify for the purchase of a median-priced existing single-family home, assuming a 20 percent down payment and 25 percent of gross income devoted to mortgage principal and interest payments. For first-time buyers making small down payments, the affordability levels are relatively lower.

For all of 2012, NAR projects the housing affordability index to be a record high 194, up from 186 in 2011, which was the previous record. November’s reading was 2.5 index points below October, but up 1.5 index points from a year earlier.
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Mortgage News Daily

  • NAR Survey Finds American Dream Depends on Affordability

    Posted To: MND NewsWire

    Homeownership as an American dream is alive and well according to new data from the National Association of Realtors® (NAR) 2018 Housing Opportunities and Market Experience (HOME) Survey. The survey was conducted across all 12 months of last year. Sixty-four percent of respondents were homeowners, 27 percent were renters, and 9 percent were non-homeowners living with a family member without paying rent. NAR just released Aspiring Home Buyers Profile , which focuses on survey responses from non-homebuyers, both those who rent and those living with a family member. Of the non-owners, 45 percent were 34 years or under, 59 percent make an income of under $50,000, and 43 percent live in suburban areas. Across the quarters of 2018 non-homeowners were consistent in their desire to own a home in...(read more)

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  • MBS RECAP: Minimal Bond Market Damage Thanks to Stocks' Hard Start

    Posted To: MBS Commentary

    The S&P had been idling in place with prices between 2560 and 2600 for more than a week. During that week, we've discussed the risks associated with a break above 2600. Simply put, if stocks managed to break above their nearest notable technical ceiling, perhaps bonds would do the same. In that case, we were looking at yields of 2.75% as the correlated ceiling. Now today, the S&P closed at 2610 and 10yr Treasury yields not even above 2.72%. To be fair, when stocks broke that ceiling this morning, bonds definitely came along for the ride . But everything played out on a smaller scale, as if both sides of the market were suppressed by some larger uncertainty. While there were quite a few brexit-related headlines in the news, we'd be far better served by focusing our attention...(read more)

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  • Mortgage Rates Unchanged Again as Markets Remain Cautious

    Posted To: Mortgage Rate Watch

    Mortgage rates were unchanged yet again today. Given that rates are based on trading levels in underlying bond markets, it's no surprise to learn that bond investors have been hesitant to take things too far in either direction after pulling up slightly from the long-term lows achieved in early January. The same could be said for the stock market, but replace early January with late December. For either side of the market, the biggest lingering uncertainty is the fate of the government shutdown . The extent to which a shutdown resolution would move markets remains to be seen. But at the very least, there's a risk that a resolution would push stocks and interest rates higher in unison--at least temporarily. From there, it would fall to actual economic data to set the tone. In that regard, bonds...(read more)

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  • LO Resources; CRM, PR, and Sales Products; January Training

    Posted To: Pipeline Press

    Are rates too high given where the U.S. economy is? Traders, investors, and the Fed think they’re where they need to be, given the information we have. Others believe they will head lower this year due to a slowing economy. The release of bank big bank earnings today is shedding some light on economic temperature, but recall that the word “patient” appeared in the recent FOMC minutes as well as in several comments by Fed Chairman Jay Powell related to the timing of potential upcoming rate hikes. (The last time we saw “patient” show up in Fed speak then Chairwoman Janet Yellen used it in reference to rate hikes in early 2015.) Would you patiently wait for your paycheck? U.S. government owes an estimated $5.3 billion to federal workers who have not been paid since...(read more)

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  • MBS Day Ahead: Stocks and Bonds in Holding Patterns, Waiting For Info

    Posted To: MBS Commentary

    Neither side of the market (debt/bonds or stocks/equity) feels like it has enough information to move out of recent holding patterns. These sideways trends emerged last week after a an apparent "New Year Bounce" toward higher stock prices and bond yields had proven itself to be a false start. Perhaps 2019's early trend could have remained intact were it not for several key sources of uncertainty. There is an important brexit-related vote in UK parliament tonight, but it will only be important for US bond markets if the vote offers a surprising result. Right now, the expectation seems to be that the Prime Minister's brexit plan will be overwhelmingly rejected. But if it's a reasonably close call, that would leave hope alive for brexit to happen on schedule. There are two...(read more)

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  • MBS RECAP: Bonds Stay in Solid Shape Despite Morning Weakness

    Posted To: MBS Commentary

    The overnight trading session was thinly-traded due to a holiday closure in Tokyo. Buyers outnumbered sellers until the domestic session. Promptly after the 820am CME Open , sellers showed up in US Treasuries. Bond market weakness radiated out from there. By the end of the day, it would become more clear that some of the selling was related to corporate debt hedging (read more about why that matters HERE ). Bonds were weaker throughout the morning hours, and then leveled off after European markets closed. It's not uncommon to see Treasuries level-off or reverse course right after European bond markets close. This can happen for a variety of reasons although it can be as simple as a sudden drop in market participation that happens when only one of the three continental areas is trading...(read more)

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  • Mortgage Rates Unchanged to Start the Week

    Posted To: Mortgage Rate Watch

    Mortgage rates held their ground today, keeping them in line with long-term lows achieved over the past 2 weeks. To be fair, it was the previous week that offered the biggest benefits, but last week was no slouch. Factoring out the first few days of January, it would have been the best week for mortgage rates since April 2018. It was a relatively quiet day for financial markets with the bonds that underlie mortgage rates trading in mostly the same territory as last week. It remains to be seen how markets will react to the absence of the typical spread of economic data (much of which is on hold due to the government shutdown ). Beyond that, the shutdown could certainly begin to have an effect on the economy itself although it's hard to say how big of an effect that would be. With this now being...(read more)

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  • MBA Revives Income Verification During Govt Shutdown

    Posted To: MND NewsWire

    At least one part of the shutdown is over as the Internal Revenue Service (IRS) announced it has resumed its Income Verification Express Service (IVES.) The service, which provides tax transcripts essential for processing mortgage applications for non-W-2 wage earners, was shut down, along with many federal government services, on December 21 and its workers were furloughed. The Mortgage Bankers Association took credit for the turnaround , saying it was its "successful advocacy" that got the IRS to restart the program. Robert Broeksmit, president and CEO of MBA said he took the appeal directly to Craig Phillips, a counselor to Treasury Secretary Steven Mnuchin. Broeksmit said he told Phillips "Look, this is staring to be a problem for the lending industry," and asked, "Could you make these...(read more)

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  • Secondary Marketing; Digital and Property Inspection Products; Radian's RADAR Rate Product

    Posted To: Pipeline Press

    My cat Myrtle has never flown coach. She doesn’t have the same complaint I have of airline workers who don’t seem to realize that “full” means full. For some reason they’ve created “completely full,” “extremely full,” “very full,” and, “full.” How did that change? Our industry is always grappling with change (as in alteration, not pennies and nickels), the latest being lenders having to shift their borrower’s expectations due to government paralysis. STRATMOR discusses this in its latest blog, “Home Financing Despite the Partial Shutdown .” Servicers and MBS investors are following regulators’ plea for financial institutions to work with borrowers affected by the government shutdown, along...(read more)

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  • MBS Week Ahead: Record-Breaking Shutdown and Data Darkness

    Posted To: MBS Commentary

    The government shutdown is now the longest ever, and there are a variety of interesting implications. The first is that multiple economic reports will not be released as scheduled. The notable examples in the current week include Retail Sales and the New Residential Construction report ( housing starts and building permits). An absence of econ data naturally increases uncertainty. In and of itself, uncertainty is good for the bond market , but investors will still have access to a few other economic reports that could help form a consensus about what the economy might be doing. Of those, the only reports on this week's calendar with any market-moving history worth mentioning are the Philly Fed Index on Thursday and Consumer Sentiment on Friday. To put their past market-movement potential...(read more)

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Residential Real Estate Sales

Westchester County, NY

 
Westchester Top 5 Real Estate

2009-2010 Top 5

Top Real Estate Agent Award

Westchester Magazine Top Realtor

2010-2011 Westchester Top Realtor

Westchester Magazine Top Realtor Award

For more information about fair housing practices, please visit the HUD website.


Bonnie Koff  |  Licensed Associate Real Estate Broker  |  William Raveis Legends Realty Group  | Tarrytown Office 
914-332-6300  |  37 Main Street, Tarrytown, New York 10591  |  Email