Bedford NY Real Estate | Robert Paul Talks Life in Bedford NY

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Q: Although we have our home up for sale, we have so many people interested in renting that we are considering taking it off the market to have it rented, as we need to have monies coming in to cover the mortgage. We had it on the market in 2008, and took it off and rented it for awhile then. When we relisted it last year, we listed it at $50,000 less than we had it listed for in 2008. I am anticipating that the market will get better if we take it off and rent it now and then sell it at a later date. Do you see this happening? --Nicolae A: Ah, if only I possessed the real estate crystal ball, that ultimate holy grail of economists, media pundits, politicos and real estate consumers alike. Unfortunately, I don't. And that seems to be what you want and need: a prediction about whether to sell later will be to sell higher. There is no way to know whether this will be the case for certain, especially in the fairly near term. If you were telling me you planned to rent the place out...

It has been four years since I worked with my first short sale. I listed a townhouse for a friend and while it was on the market she stopped making payments and I ended up with my first short sale. The process was stressful for all parties. It worked out, and we are still friends -- which will always be more important to me than a commission. We got bank approval on an offer after only three months, but the "file" was sold to another institution two days before the anticipated closing, which caused more delays. But it did eventually close. Personally, I would have come out much better if I charged an hourly rate instead of a sales commission. Short sales are more common than ever, and I think that is a shame. Many short-sale attempts end in foreclosure. And even if successful, a short sale hurts the credit rating almost as much as a foreclosure does. As agents we need short sales and they can be good for business. There are classes real estate professionals can take to ...

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Outdoor Survival Skills: How to Start a Fire Find out how to get a blaze going with these five fire-starting methods.   A comprehensive primer on self-sufficiency, “When Technology Fails” will give you the know-how you need to fend for yourself and your family in times of emergency or disaster.   The following is an excerpt from When Technology Fails by Matthew Stein (Chelsea Green, 2008). This excerpt is from Chapter 4, “Emergency Measures for Survival.”     Your ability to start a fire is important for staying warm in cold climates, for cooking food and for sterilizing water. I’ll start with simple instructions for building a campfire with matches and paper, and then proceed through the more Spartan methods, ending with the difficult process of starting a fire by rubbing two sticks together. Starting a Fire With Matches Materials I like to separate my materials into piles by size. Start by gathering a couple handfuls of tinder, about one-third of a shopping b...

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Now that spring is on its way, it's time to get going on that long list of projects that has been building during the wet, cold months. Reviewing some basic safety points is part of shaking off the cobwebs. Occasionally, we've had to learn this the hard way. There were a couple of doozies early in our careers and, frankly, we consider ourselves lucky that we're still here to tell about them. Years ago, Bill was using a pneumatic nail gun to install a soffit in a rental house in Boise, Idaho. With just one more nail to go, he decided to lean and stretch rather than climb down and reposition the ladder. His hand slipped, the gun fired a 16d nail between his thumb and index finger, and we got to make a trip to the emergency room. As for Kevin, he was using a reciprocating saw (the one that looks like a swordfish) to cut a cripple stud away from a mudsill when we were replacing a foundation. While he was foolishly pulling the saw toward him, it kicked back and plunged into ...

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Running can be a lonely sport—just you, the pavement and your mp3 player. But if it's the company of other runners you prefer, the Bedford Road Runners Club offers that, and a spring schedule of runs over the unique terrain and scenic beauty of Bedford that makes running here a joy, say members. “I love the trails, the dirt roads and exploring the incredible surroundings in this area,” says Lucia Chapman, a resident of Bedford and member of the club since it was founded in 2003. The spring season is underway for the local club that makes it possible for runners to gather—non-competitively—with a group of like-minded enthusiasts on weekend mornings or afternoons, for a three-to-five-mile run. On Sunday, April 10, at 8:30 a.m., the “Mianus River Gorge Run” will be held on a dirt road loop near the gorge. It will be about 4.7 miles in length and although individual runners vary, club founder Jamie Coleman says the pace range is usually a nine-to-ten minute mi...

After hosting a successful women's networking event two years in a row, Mary Ricci decided to take it a step further.  She said it is her unwavering belief that young, aspiring entrepreneurs need better access to advice from seasoned professionals within their field. That's why Ricci launched the Women Promoting Women’s Mentoring Program for Young Women in Business. According to Ricci, the new mentoring program—officially launched earlier this month—will match local high school and college-age women entrepreneurs or business-oriented students with successful women business owners from Bedford and Katonah.  The goal is to "educate, encourage and inspire them" through the mentoring relationship, said Ricci. Among the established business owners who have already agreed to become mentors are Christine Salazar of Happiness Is catering services, Tatianna Ferraro, an artist, Geri Brewster, a holistic nutritionist, Ellen Fisher of College 4 U consulting and co...

  The weekend's almost here! No plans yet? No worries. We've got you covered. Second Annual Run for The Hills When & Where:   Saturday, April 2, 8:30am, beginning at the Bedford Hills Train Depot Why Go:  Coordinated by the Bedford Hills Neighborhood Association, this 5K run celebrates the lovely hamlet of Bedford Hills and also will benefit the Community Center of Northern Westchester, with organizers collecting rice and pasta on the day of the race.   Read more about the neat new timing system, where each runner will get a chip that uniquely identifies them as they pass mile-markers. Price: Runners and walkers (no strollers) may pre-register for $20 at ACTIVE.com or the morning of event at 8 a.m. for $25. Annie When and Where: Saturday, April 3, 1:00pm at the Yorktown Stage , 1974 Commerce St, Yorktown Heights Why Go:   A classic production of this family favorite will entertain all ages—and there is no need to travel ...

The brown paper taken down two days ago has revealed a handsome new wine shop, The Finer Winer, set to open in Katonah next week. If you’ve been wondering, as I have, what’s been going on behind the sealed windows the last few months, the answer is the most prominent feature of the store—handmade cabinetry, constructed from Washington redwood, lines both walls and fills the center of the room, ready to be stocked with wine and spirits. “We’ve been building it for the last four months right here in the store,” said Dino Turchioe, co-owner of the store. Turchioe designed the wine shelving and he and his partner, Fabio Ricci, completed the installation. In addition to being a wine enthusiast—as his business card describes him—Turchioe has had a varied career including owning a construction company and a wireless deer fencing company. Ricci has restaurant experience and formerly owned the Carvel ice cream shop in Bedford Hills. The two men live in Valahalla and their...

Mortgage rates resume upward march Demand for purchase loans well below last year's levels By Inman News , Thursday, March 31, 2011. Inman News™ Mortgage rates inched up again this week, bringing 30-year fixed-rate mortgages back to where they were at the beginning of the month, while demand for purchase loans was down more than 20 percent last week when compared to a year ago. Rates had been rising steadily this year until mid-March, when economic uncertainty over the crisis in Japan and turmoil in the Middle East had investors seeking safety in bonds, and rates eased. Investors, at least for now, seem to have put their worries behind them, and money is flowing back into stocks. Reduced demand for bonds that fund most mortgage loans means lower prices and higher yields on those investments -- and higher rates for borrowers. Rates on 30-year fixed-rate mortgage averaged 4.86 percent with an average 0.7...

I could do this. Since 1970, Shelter-Kit has offered pre-cut custom post and beam barns and sheds for assembly by people like me—who have no prior building experience. (The company says women make up a large portion of its customers.) Versatile in appearance and function, the kit buildings can be used as storage, workshops, barns, pool houses, garages, garden sheds and hobby spaces. My dream is to build one as an office. Created individually for each customer, Shelter-Kit’s customizable barn-style buildings range in size from a compact 16-foot-by-16-foot unit to a 36-foot wide building. The kits come with the necessary materials to build a complete, weather-tight shell, including the frame, siding, sheathing, hardware, roofing and sub floors, and the company claims they can be assembled by two people in three to fifteen days, depending on the structure. “The do-it-yourself nature of our product allows customers significant cost savings, but with the ability to maintain exc...

Manhattan commercial asking rents will advance 16% over the next three years, the second biggest gain in the nation, according to a forecast released by Cushman & Wakefield Inc. on Thursday. Only San Francisco, where rents are expected to jump 33% through 2013, will best New York, the report said. New York is benefitting from a much stronger job market than many cities in the country, said Maria Sicola, head of research for the Americas at Cushman. She said that in New York, 40% of the jobs lost during the recession have come back. Midtown south and midtown are the driving forces behind what is expected to be the city’s exceptional performance. Midtown south’s vacancy rate of 8.6% was the lowest for any central business district in the country last year. By 2013 it is expected to fall to a mere 4.4%, which would also rank as the smallest in the nation. Rents in the neighborhood are expected to increase 22% over the next three years. Ms. Sicola said that midtown south...

The most remarkable sequel of the September 11th attacks, now approaching their tenth anniversary, was rarely reported as such: the continued rise of New York real-estate prices. Since many pundits swiftly declared that the question was not whether but when future terrorist attacks would come, it was plausible to believe that commercial and residential prices in New York, Washington, and other major urban centers would drop significantly to reflect the risk of destruction, from hijackings to suitcase bombs. Certainly other plots have been discovered, and some experts believe risks are increasing. But at Ground Zero itself, results have been the opposite of what terrorists expected. The area, once in limbo, is thriving, according to this Associated Press report . Virginia Lam, a publicist and former City Hall operative who moved into a newly converted residential building on Wall Street in 2006, said the site is a source of inspiration, rather than fear o...

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  Analysts report that the blockbuster rally in property stocks is beginning to sputter as investors grow increasingly concerned about such global events as the unrest in the Arab world and the recent earthquake and tsunami in Japan. As of Tuesday's close, the Dow Jones Equity All REIT Index had posted total returns of 4.6 percent for the year — an about-face from the last couple of years when REIT stocks routinely outpaced the overall stock market. In the first quarter of 2009, investors began pouring cash into REIT stocks on account of their high dividends. Investors also reasoned that the values of commercial properties would gain as rents and occupancy levels climbed in the recession's aftermath. Now, however, more and more REIT investors are moving to the sidelines on concerns that global events could have a negative impact on future REIT profits. Hessam Nadji, managing director of research at Marcus & Millichap, says, "It's not surprising to see this break ...

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The nation’s five largest banks met with government officials and state attorneys general on Wednesday to resolve allegations of wrongdoing in mortgage lending and lay the framework for new foreclosure rules. Both the banks and state attorneys general have come up with proposals in changes to mortgage servicing to help improve the system but now they must hash out a settlement. The five banks participating in Wednesday's talks were Bank of America, Wells Fargo, Citibank, Chase, and GMAC. Scant details were released about what the talks on Wednesday centered on during the meeting, but one thing officials did say was that the settlement was going to take a long time. “Obviously this is a very large set of issues, and it’s going to take some time to work through,” said Thomas J. Perrelli, associate U.S. attorney general. Government officials and regulators have been seeking solutions to prevent future lending abuses after the “robo-signing” scandal set o...

By Robert Freedman, senior editor, REALTOR® Magazine You often hear talk within real estate about the shadow inventory that looms over markets. These are the homes that are at risk of going into default or are already owned by the banks and that can come onto the market at any time. They pose a problem because a flood of these properties can put enormous downward pressure on prices as inventories rise far above what can be absorbed by demand. Of course, the properties tend to sell for quite a bit less than other properties, and that’s good for buyers, particularly investors who can scoop up properties in bulk. But the discount inventory isn’t friendly to sellers whose properties have to compete with them.     All this notwithstanding, there really isn’t a hard and fast rule of what properties actually comprise the shadow inventory. This lack of definition is important, because one analyst who reports a big, scary number in the news might be thin...

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The National Association of REALTORS ® today urged Congress to move cautiously when reforming government-sponsored enterprises Fannie Mae and Freddie Mac.   Reforming America’s housing finance market can only be achieved through a forward-looking, comprehensive approach that supports the housing and economic recoveries, 2011 NAR President Ron Phipps said in testimony before the House Subcommittee on Capital Markets today. “As the leading advocate for home ownership, NAR strongly agrees that the existing system failed and that reforms are needed; however, redesigning a viable secondary mortgage model that will protect taxpayer dollars and serve the country’s home owners today, and in the future, can only be achieved through a methodical, measured effort,” Phipps said. NAR is concerned that without a comprehensive plan for reforming the secondary mortgage market, proposed legislation to quickly constrain Fannie Mae and Freddie Mac before an adequate repla...

Forget stocks. Don't bet on gold. After four years of plunging home prices, the most attractive asset class in America is housing. A home under construction in Austin. The number of new homes in the pipeline nationwide is quite low. From his wide-rimmed cowboy hat to his roper boots, Mike Castleman fits moviedom's image of the lanky Texas rancher. On a recent March evening, Castleman is feeding cattle biscuits to his two pet longhorn steers, Big Buddy and Little Buddy, on his 460-acre Bar Ten Creek Ranch in Dripping Springs, a hamlet outside Austin in the Texas Hill Country. The spread is a medley of meandering streams, craggy cliffs, and centuries-old oaks. But even in this pastoral setting, his mind keeps returning to a subject he knows as well as any expert around: the housing market. "I'm a dirt-road economist who sees what's happening on the ground, and in 35 years I've never seen a shortage of new construction like the one I'm seeing today,...

On March 23, 2011, actress Elizabeth Taylor died. Her life provides a wealth of extraordinary life lessons for all of us -- including those of us in real estate. The first time I saw Elizabeth Taylor live was when she was co-starring in a Noel Coward play with Richard Burton. While movies are shot, reshot and edited, there's nothing like a live performance to show how truly talented (or untalented) an actor is. Lesson 1: Passion and authenticity Burton and Taylor are screen legends, but I have never seen anyone more passionate or impressive on stage than these two. Even though they had divorced at the time of the play, you could feel the electricity between them. You weren't just seeing acting. You saw two incredibly passionate people who were living the roles they were playing. Whether they were kissing or fighting, it was real and completely authentic. Lesson learned: Our clients want someone who will be passionate about helping them buy or sell a house. They also want ...

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A presenter at the Mexico Resort Development Conference in San Diego asked anyone in the room to stand up if they knew of any good news regarding the tourism/housing market in Mexico. More people stood to tell their stories than time allowed. The presenter ended with: "See, there is good news out there -- but what is anyone doing to promote it?" As I explored in another column (see " Snag a deal on Mexican real estate "), not all of Mexico is awash in blood and drugs. Much of the violence occurs in border towns, downtown Mexico City, and in the community of Culiacan, two hours north of Mazatlan. In recent months, drug-related violence has also surfaced in Acapulco. However, much of the country remains a laid-back, comfortable place to live and visit, with inexpensive housing and a low cost of living. The flow of North American traffic to Mexico increased, in fact, in the last quarter of 2010. See related article: Snag a deal on Mexican real estate "...