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WatchingWestchester    November  Report  2010                                                            The  Angel  Team

How is Your Town Doing?November End-of-Month Stats for Lower Westchester

With  November  coming   to  an  end  and  one  month  to  go  in  2010,  we  are  keeping  a  close  watch  on  the  housing  inventory  in  lower  Westchester.  With  many  sellers  talking  about  “waiting  till  the  spring”  to  put  their  houses  on  the  market,  it   is   important  to  see  where  your  municipality  stands  and  what   the  competition  is   like.  Below  you  will  find  the  total  current  active  single  family  properties  in  each  municipality,  as  well  as  properties  in  contract,  pending  for  sale,  and  properties  that  closed  in  the  month  of  November:

Curious   about   your  home’s  worth?   The  Angel   Team  will  be   happy   to   provide   you   with  a  FREE   comparative  market  analysis  and  tips   that  will  help  you  net   the  biggest   return  possible.  Thinking  about   buying?  The  Angel  Team  will  listen  carefully  to  your  needs  and  help  you  define  what  towns,  neighborhoods  and  homes  will  best  fit  your  criteria.  We  are  also  able  to  provide  you  with  Mortgage  Broker  referrals  that  can  assist  you  with  all  of  your  financing  questions  and  needs.  Contact  us  today!

A 116

CC 17

P 12

S 6

A 412

CC 56

P 25

S 30

A 158

CC 7

P 12

S 5

A 92

CC 15

P 22

S 11

A 168

CC 27

P 9

S 20

A 140

CC 6

P 9

S 8

A 206

CC 36

P 11

S 21

A 116

CC 6

P 6

S 5

A 53

CC 17

P 1

S 7

A 61

CC 8

P 18

S 1

A 137

CC 15

P 15

S 9

A 123

CC 27

P 5

S 4

A 87

CC 10

P 18

S 7

A 112

CC 22

P 13

S 3

New Castle North Castle

Greenburgh Mt. Pleasant

White Plains

Harrison

Rye City Rye TownNew Rochelle

Eastchester Mamaroneck

Scarsdale

Mount Vernon

Pelham

A 326

CC 50

P 22

S 33

Yonkers A = ActiveCC = Conditional Contract

P = PendingS = Sold (in Nov. ’10)

(Single Family Homes Only)All information provided by 2010 Empire

Access MLS Inc. Data believed accurate but not warranted. All data subject to verification.

The Green Corner“It’s  Never  Been  Easier  to  

Be  Green.”-­‐  Elizabeth  Barker,  www.greenandsave.com

With  just  a   little  eco-­‐savvy,  creating  a  greener  home  can  be  a   breeze   for   even   the   busiest   of   people.   Here,   Terra  Wellington,   author   of   The   Mom’s   Guide   to   Growing   Your  Family   Green,   shares   seven   simple   solutions   for   planet-­‐friendly  living.   1.   In   the   daytime,   leave   the   lights   off   and   let   the  sunshine  brighten  up  your  home.  Because  they  bounce  light  around  the  room,  hanging  mirrors  can  help  liven  up  darker  spaces   without   lightbulbs,   notes   Wellington.   And   for  nighttime   lighting,   rely   on   compact   fluorescent   bulbs,   or  CFLs,  which  are  known  to  use  about  75  percent   less  energy  than  conventional  lightbulbs  and  last  up  to  10  times  longer.   2.   Skip   disposable   batteries   and   choose   the  rechargeable   variety   to   power   up   toys,   remote   controls,  flashlights  and  other  electronics.   3.  Curb  your   energy  consumption   by   plugging  TVs,  DVD  players,  desktop   computers  and   stereos  into   a  power  strip,   then   leaving   the   strip   switched   off   when   the  electronics  aren’t  in  use.   4.  When   you’re   done   juicing   up   your   cell   phone,  digital  camera  or  laptop,  unplug  the  charger  to  keep  it  from  leeching  electricity.   5.  Select  the   cold-­‐water   cycle  as  often  as  possible:  water  heating  accounts  for  about  90%  of  energy  used  while  washing   clothes.   To   make   your   laundry   even   greener,  Wellington   recommends   line-­‐drying   your   clothes   when  weather  permits.   6.   Load   up   your   dishwasher   instead   of   scrubbing  pots,  pans  and  plates  by  hand.  You’ll  not  only  save  time  and  protect   your   fingers   from   pruning,   you’ll   also   conserve   a  considerable  amount  of  water.   For  more  savings,  shut  the  dishwasher  off  after  its  last   rinse  and  open  the  door  to   let  your  dishes  air-­‐dry.   7.   In   the   winter,   keep   your   thermostat   at   68  degrees  while   you’re  at  home  and   lower  the   temperature  when  you  leave  the  house  or  hit  the  sack.  To  stay  cozy,  seal  off  any  drafts  in   your  windows  and   flip  the  switch  on   your  ceiling  fan  to  drive  warm  air  down  and  heat  up  the  room.

Spotlight on: New Rochelle

Current  Market  StatsSingle  FamilyActives:  206In  Contract:  36Pending:  11Solds(Nov.):  21Solds(6mos):  137

CondosActives:  57In  Contract:  10Pending:  4Solds(Nov.):  4Solds(6mos):  24

Co-­‐opsActives:  154In  Contract:  19Pending:  4Solds(Oct.):  6Solds(6mos):  55

Property of the Month

$ Best Buy $

Listing  courtesy  of  Gary  Leogrande,  Keller  Williams  NY  Realty

15  Park  Avenue  |  White  Plains,  NY3  BRs/2.5  BTHs

$589,000Fabulous   house   in   a   great   location!   Totally   renovated  Colonial  with  wrap-­‐around  front  porch.  All  new  kitchen,  baths   and   windows.   New   2-­‐zone   central   air  conditioning.   Beautiful   hardwood   floors   on   first   floor.  Open   floorplan     features   a   cozy   fireplace   in   the   living  room.  High   ceilings   on   first  floor   and  an   abundance   of  windows  make  this  a  very  bright  and  airy  home.  Located  within   walking   distance   to  Metro   North   with   express  service   to   Manhattan,   plus   shops,   dining   and  entertainment  in  downtown  White  Plains.

65  S.  Manor  |  White  Plains,  NY4  BRs/2.5  BTHs

$539,000Gorgeous  half-­‐acre  property!  Well-­‐situated  4  bedroom,  2  and  a  half  bath  on  a  private  corner  lot,  located  on  a  cul-­‐de-­‐sac.   Gorgeous   refinished   hardwood   floors.   Flexible  floorplan  works  for  multi-­‐generational  living.  Central  air,  alarm   system,   closets   galore   and   a   2   car   garage.  Fabulous   sun   room.   Room   for   a   pool   and   excellent  expansion  possibilities.  Roof  and  vinyl   siding  were  done  in   2001.  Bay  windows   in   dining   room,   living   room   and  master  bedroom.  A  true  gem  not  to  be  missed!

Listing  courtesy  of  Carolyn  Schoemer,  Keller  Williams  NY  Realty

Real Estate in the NewsAll  information  provided  by  the  Keeping  Current  Matters  Real  Estate  Blog  &  can  be  found  

at  http://kcmblog.com.  Sign  up  for  their  daily  postings  &  keep  on  top  of  the  market!

Why You MUST NOT WAIT to Sell Your HouseThe   best   real   estate   professionals   are   trying   to  convince   anyone   thinking   of   selling   in   the   near  future   to   correct   the   price   on  their   home   and   sell  now   before   the   home   loses   even   further   value.  Some   cynical   homeowners   think   the   agent   is   just  trying   to  create  fear   in  order   to  make   a   quick   sale.  Some   sellers   are   waiting   until   after   the   holidays.  Some   sellers   are   waiting   until   the   ‘spring   selling  season’.   Today,  we  want   to  say  that   your   agent   is  giving  you  great  advice  -­‐  Sell  Now!

We  want   to  prove  this  is  the  best   thing  for  you  and  your   family.   The   most   complete   data   available   is  usually   generated   by   the   local   and   national   real  estate   associations.   We   realize   that   this   data   is  sometimes   considered   suspect   by   the   consumer  (especially   the   cynics).   For   that   reason,   we   will  make   our   point   without   using   any   industry   data  generated   by   these   associations.   Instead,   we   will  use  the  government  agency  Fannie  Mae’s  November  Economics  and  Mortgage  Market  Analysis  Report.

Fannie  Mae  forecasted  median  home  sales  prices  for  the   next   eight   quarters.   Their   projections   call   for  prices   to   fall  and  to  not   again  reach  today’s  values  

until   the   3rd   Quarter   of   2012   (see   graph   below).  Remember,   these   are   not   real   estate   industry  projections.  These  are  government  projections.

Bottom  Line

If  you  are   looking  to  sell  within  the  next  two  years,  the  highest  sales  price  you  will  be  able  to  attain  for  your  home   is  its  current  value.  Don’t  wait.  Take   the  advice  of  your  agent  and  price  it  to  sell  today  as  the  house  will  not  increase  in  value  in  the  short  term.

Where Are Interest Rates Really Headed?Almost   every   mortgage   expert   predicted   that  interest   rates   would   skyrocket   earlier   this   year   as  the   Fed   backed   out   of   purchasing   mortgage-­‐backed-­‐securities.  They  were  wrong  and  most  have  refrained   from   making   any   new   projections   ever  since.  Last  week,  our  own  friend  and  adviser,  Dean  Hartman,   said   they   may   go   lower.   This   month,  Market  Watch  reported  on  the    Mortgage  Brokers’  Association’s  (MBA)  projections:

Mortgage   rates  may   be  as   low   as   they’ll  get   -­‐   rates  are  on   course   to   rise,  slowly   moving   towards  5%   by  the   end   of   next   year,   according   to   the   Mortgage  Bankers  Association’s  economic  forecast.

It  seems  that  the  MBA  is  in  line  with  the  projections  of   the   National   Association   of   Realtors   who   also  believes   that   rates   will   increase   over   the   next  several   quarters.   Here   are   the   comparative  projections  on  the  chart  to  the  right:

Bottom  LineIf   you   are   thinking   about   buying   a   home   but   are  waiting   for  prices  to  soften  further,  be  careful  that  the   ‘cost’   of   the   house   isn’t   heading   upward  because  of  interest  rates.       BUYERS,  now  is  YOUR  time.

Guess the sale price!This   is   a  contest   to   see   who  can  guess  what   this  home   will   sell   for!   Located   in   the   quiet   Rosedale  neighborhood,   this   3   bedroom,   2   bath   Ranch   in  White   Plains   is  a  great  buy!  The  exterior   has  new  vinyl   siding   and   sits   on   a   large,   level   lot.   The  backyard   features   a   patio   and   barbecue   pit.   The  interior   has   hardwood  floors   throughout,   a   stone  fireplace   and   a   huge   finished  walkout   basement.  The  hot  water  heater  was  replaced  in  2009  and  the  basement  has  been  professionally  waterproofed.  

Email   Gerry   at   gerryangel@kw.com   with   your  guess.  The  person  who  comes  closest  will  win  a  $5  Starbucks  Gift  Card!

As   a   GREEN   realtor,   I   prefer   to   send   things   digitally   whenever  possible.  If  you  would  like  to  receive  this  newsletter  via  email,  please  contact  me  at  gerryangel@kw.com.

Please   feel   free   to   pass   this  Newsletter   along   to   anyone  you   think  would   be  interested.  Better  yet,  have  them   ask  me  to  be  added  to  the   list   and   have   them   mention   your   name  and   I   will   send   you   a  $5.00  Starbucks  gift  card.

If   you   do   not   wish   to   receive   this   report,   please   reply   with  “Unsubscribe”  in  the  subject  line.

If   you   are   interested   in   seeing   any  of   the  properties  mentioned   in  this   Newsletter,   or   if   you   know   anyone   looking   to   buy  or   sell   real  estate,   please   call   me.   I   offer   a   complimentary   consultation   to  Buyers   and   Sellers.   I   cover  all   of  Westchester   County  and   parts   of  Southern  Putnam.  

Please   note:   according   to   new   regulations   of   the   Westchester  County  Board  of  Realtors,  brokers  and  agents   are  not  permitted  to  mention   actual   addresses   of   sold   or   listed   properties   in   their  promotional   activities   unless   it   is   listed   by   their   office.   I   can,  however,  provide  you  with  complete  information  if  you  request  it.

The Angel TeamGeraldine  Angel,  Associate  BrokerKeller  Williams  NY  Realty120  Bloomingdale  RoadSuite  101White  Plains,  New  York  10605O:  914.437.6141  C:  914.263.7168  F:  914.437.6199gerryangel@kw.comgerryyourrealestateangel.com

Eye on Luxury...Behind   an   elegant   gated   entry   awaits   your   private  oasis!   Currently   listed   at   $2,694,888,   this   exquisite  home   offers   nothing   but   serenity.   The   stunning  residence  boasts  unique  details   throughout-­‐   gracious,  sunken   family   room   with   vaulted   ceilings,   dramatic  stone   fireplace,   state-­‐of-­‐the-­‐art   renovated     eat-­‐in  kitchen  with   spacious   center   island,   and   two   private  guest   en   suites.   The   lower   level   features   a   rec   room  with   fireplace,   handcrafted   wet   bar,   gym   and   wine  cellar.   French  doors   out   to  a  flagstone  patio  with   in-­‐ground  pool  and  cabana.  The  outdoor   spaces  provide  peace  and  tranquility  in  your  very  own  Zen  courtyard.   Listing  courtesy  of  Christine  Ricci,  Keller  Williams  NY  Realty

Listing  courtesy  of  Gary  Leogrande,  Keller  Williams  NY  Realty