There are a ton of open houses this Sunday, and showings are still brisk. I will allow perhaps a tiny bit off a non holiday weekend, but that’s it. Bargains are bargains and buyers are tired of waiting for years to snap them up.

I have a pile of folders with new listings in them, in varying stages of preparation, including a wonderful new Arts and Crafts style home in the desirable Longvale section of Bronxville PO/Yonkers that buyers will love. I know I would buy it and I rarely say that!!

So don’t stay home, come out and buy something while the flowers are blooming!

Peter Harris
Licensed Associate Real Estate Broker
Houlihan Lawrence
Bronxville Brokerage
914.588.5004 Direct
Pharris@houlihanlawrence.com

This is not a new scam. Thieves have been using Craigslist for a long time to rip tenants off. What this article does not talk about is that in some jurisdictions if the unknowing tenants moves in and stay for a sufficient length of time, the owner cannot remove them, even though their tenancy is illegal. Nice right?!

Realtors who have house listings should be scanning Craigslist on a regular basis to try to insure this is not happening, although even that is not a guarantee that you can stop it.

Please click the link below for the full article from LoHud.

http://lohud.us/FPtTv5

Click the link below to view the web page for all the details. This is another reason why you should be moving to Westchester to live!

Hudson Valley Restaurant Week

How old are your devices? They do not last forever. If they are seven years or older, it is time to replace them! The sensors inside no longer work effectively and it is cheap insurance to upgrade to current technology. Be Safe!

In some submarkets the activity has quite simply exploded. In others it has been busier than expected. Whatever the level of activity it is way beyond what a early/mid March expectation would be, and absent any unforeseen shocks to the economy, there is no reason to think that it may not improve as we move deeper into the spring.

It should be noted that the submarkets where there is increased activity have comparatively few short sales and bank owned properties. Too many of these can be a drag and their absence allows the individual submarket to behave more normally.

While showing activity is way up, and we are seeing increased deal making activity, sellers should not expect any increases in prices for some time. There is far too much market overhang that needs to be absorbed, as well a need for a stronger market psychology to occur before this can occur. Right now I will be happy with increased transfers of real property and coops.

Let us hope that interest rates remain at historic lows and the unemployment figures continue to improve.

Radio and tv ads beat it into our heads to refi. “it’s easy! No appraisal fees! Only $499 closing costs!”.

Well it’s all bullcrap. What a surprise.

If you bought your House 20 years ago and have loads of equity and great financials, yes refinancing is probably for you. But if you bought 18 months ago with a 3.5% down FHA, and market values have continued to decline, no matter how good your credit is you are not getting a refi.

Quite simply you have no equity.

That might be the extreme but you see the point. Even a 10% down buyer who purchased recently will probably run into an appraisal issue, and the lack of equity will doom the deal. Only the owner with lots of equity AND sterling financials will get the loan.

If you feel you are a good candidate, this is the time to do it. Rates are at giveaway levels so take advantage. Just do not be suckered by the media into thinking it is 2003 again. It is not.

Now that trees and flowers are blooming, and we may actually have back to back days over 70 degrees, I have a sense that buyers are going to come out of the woodwork ready to buy. I have seen houses and coops come on the market at very sensible prices recently, and combined with the continued low interest rate environment, this makes a compelling environment for deals. Weekend traffic is way up.

Does this mean it will be easy? Of course not. The value has to be there, and buyers are still nervous and value conscious. Banks are still pains in the neck. But absent $5+ gallon gas prices or an even greater upheaval in the Middle East, the late spring and summer could be busy.

But let’s be clear: busy yes, price appreciation, no. Not yet. We are quite some time from that occurring.