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Property Spotlight: Historic Colonial Hits the Market in White Plains Fully Renovated 1700s Westchester County Home Offered for Sale at $1,435,000
White Plains, NY —- Better Homes and Gardens Rand Realty has announced the listing of a historic 1710 colonial set on a beautiful 1.2-acre property for $1,435,000. The 3,471 square foot home offers classical elegance and historic charm throughout its 4 bedrooms and 3½ baths and is filled with 1700s historic touches including original architectural features. Fully renovated, the home also offers the best of contemporary living and design and is located in the heart of White Plains, a short commute to New York City.
The historical elegance of this beautiful home is evident in every corner, including original colonial aspects which have been meticulously reimagined in each room: exposed wood beams, 18th-century brick, wood-burning fireplaces, period molding, and wide king’s board flooring. Combined with modern features including new windows, a new boiler, central air conditioning, modern appliances, and new electrical and plumbing this home is the perfect blend of historical charm and modern amenities.
Listed with Nicholas Wolff, Associate Broker, and Daniel Luckner RE Salesperson, Better Homes and Gardens Rand Realty, White Plains, “this is a very unique listing and a perfect fit for any history buff as it was once home to Benjamin Lyon, a Revolutionary War hero who cast a vote for the Declaration of Independence.”
For more details: https://www.bhgre.com/property/28-Colonial-Rd-White-Plains-NY-10605/50041212/detail
Better Homes and Gardens Rand Realty Property Spotlight: Spectacular Home by Award Winning Architect Hits the Market in Scarsdale for $2,899,000
Scarsdale, NY– Better Homes and Gardens Rand Realty has announced the listing of a gorgeous, move-in ready five bedroom, six+ bathroom contemporary colonial, designed by award-winning architect Eran Chen featuring a loft-like flow and situated at the end of a cul-de-sac.
With over 6,000 square feet of bright, sun-filled living space, the house features floor-to-ceiling windows set off by black oak floors, along with state-of-the-art LED lighting. The kitchen is the heart of the home, designed by Vicente Wolf and complete with Calcutta gold countertops, four ovens, a built-in espresso machine, Sub Zero refrigerator and Viking range that will make even the most novice cook feel like a professional. Built in 2007, the home has been modernized with the most current smart home features, including Nest thermostats, electric vehicle charging station, custom closets, 7 zones, generator, and smart home security system.
Listed with Esther Berkowitz, Associate Broker at Better Homes and Gardens Real Estate Rand Realty, she says, “This home seamlessly blends colonial charm with a contemporary feel. As soon as you enter this house you are welcomed into a massive two-floor foyer with great natural light. The feeling of this home is like no other; it truly is a one-of-a-kind property in a serene setting.”
With close to an acre of beautiful park-like property, this home is ideal for indoor-outdoor living and has plenty of room to grow, including approvals already secured for an in-ground pool and basketball court.
For more details: https://www.bhgre.com/property/14-Rock-Hill-Ln-Scarsdale-NY-10583/50112294/detail
Fourth-Quarter 2018: Real Estate Market Report – Northern New Jersey
Pricing in the housing market in the Northern New Jersey suburbs of New York City continued to appreciate in the fourth quarter of 2018, even while low levels of inventory suppressed sales growth throughout the region.
The regional market continues to suffer from a lack of supply. The number of homes available has settled at levels that generally signal a seller’s market, with fewer than six months of inventory in most of the Northern New Jersey markets. The lack of inventory has been stifling sales growth because the market lacks “fuel for the fire” to meet the existing buyer demand, even while driving meaningful price appreciation throughout the region.
Because of the lack of inventory, sales were down sharply. For the region, sales were down almost 5% in the quarter, falling in almost all of the counties: down 4% in Bergen, 11% in Hudson, 7% in Passaic, 6% in Morris, and 12% in Sussex. Sales were only up in Sussex and for Bergen condos. And for the 2018 year, sales were down about 1%, and down in most of the counties. That said, sales are now at levels we haven’t seen since the seller’s market of the mid‑2000s, and almost double in many places from the bottom of the market following the correction of 2008‑09.
But these low levels of inventory are also driving meaningful price appreciation. Prices rose sharply for the region, rising almost 5% for the quarter and up in most of the counties: rising 3% in Bergen, 6% in Hudson, 6% in Passaic, 3% in Morris, and 6% in Sussex (down only in Essex). For the year, we saw meaningful price appreciation throughout the region, with the regional price up almost 3%.
Going forward, we expect the seller’s market to continue. With good economic conditions, low interest rates, and attractive pricing, we expect that the Northern New Jersey market will continue to see meaningful price appreciation. This will eventually attract more sellers into the market, perhaps in time to help drive sales growth in the spring market.
To learn more about Better Homes and Gardens Real Estate Rand Realty, visit their website and Facebook page, and make sure to “Like” their page. You can also follow them on Twitter, Pinterest, and Instagram.
Fourth-Quarter 2018: Real Estate Market Report – Bronx, NY
With Better Homes and Gardens Rand Realty’s recent expansion into the Bronx, we are delighted to present the Rand Quarterly Market Report for Bronx County. We have been providing these quarterly market analyses for almost 15 years for the markets we service, which include Westchester and the Hudson Valley, Northern New Jersey, and now the Bronx. We hope you enjoy the Report, and if you have any questions, please reach out to your Rand Realty agent.
The Bronx housing market surged again in the fourth quarter of 2018, with prices rising sharply in a growing seller’s market, even while low levels of inventory held back sales growth. Going forward, we expect that strong demand will continue to drive meaningful price appreciation through a robust winter and spring market.
Prices were up across the board. For all property types, the average price rose over 13% from the fourth quarter of last year, and was relatively balanced: single‑family homes were up almost 6% on average and over 10% at the median, multi‑families were up 8% on average and almost 9% at the median; coops were up 10% on average and 8% at the median; and condos were up over 40% on average and 67% at the median. We caution not to read too much into the striking condo results because the market is relatively thin (only 45 sales in the quarter) and can be skewed by a couple of outliers. That said, even for the more reliable full 2018 year, we have some eye‑popping results for Bronx condos: up 16% on average and 13% at the median. Moreover, we’re seeing sustained price appreciation across the board, with the average price rising over 13% for all property types and up in every market segment.
But sales were down overall, and for most property types. For the borough as a whole, sales fell about 8%, even while they were relatively flat for the year. Most likely, we’re just seeing the impact of restricted inventory holding back sales, with the market lacking enough “fuel for the fire” to satiate demand. We would expect that these rising prices will eventually tempt more sellers into the market, which could help drive sales up.
Inventory continues to fall. We measure inventory by looking at the number of homes available for sale, and the rate at which homes are selling. A balanced market has about six months of inventory, meaning that at the current rate of home sales, it would take six months to sell all the homes currently available. What we’re seeing, though, is a clear sign of a seller’s market, with the months of inventory well below six months for all property types: 4.2 for single‑family homes, 5.0 for multi‑families, 4.9 for coops, and 5.6 for condos.
Overall, this is exactly what a robust seller’s market looks like. We have high demand and falling inventory driving sales and prices up throughout the borough. Textbook economics tells us that rising prices will eventually attract more sellers into the market, but in the meantime we can expect that high demand will continue to drive prices up through a robust winter and spring market.
Editor’s Note: This report includes only those sales reported through the Hudson Valley Gateway Multiple Listing Service.
To learn more about Better Homes and Gardens Real Estate Rand Realty, visit their website and Facebook page, and make sure to “Like” their page. You can also follow them on Twitter, Pinterest, and Instagram.
Fourth-Quarter 2018: Real Estate Market Report – Orange County, NY
The Orange housing market closed the best year for homeowners since the financial crisis 10 years ago, with the full‑year pricing up sharply for both single‑family homes and condos. Orange is now in a fully realized seller’s market, with low levels of inventory holding back sales, even while driving robust price appreciation. For the full 2018 year, prices were up across the board: single‑family home prices rose 9% on average, 7% at the median, and almost 10% in the price‑per‑square foot, while condo prices rose 12% on average, 8% at the median, and over 12% in the price‑per‑square‑foot. Pricing is now the highest it’s been since the financial crisis of 2008‑09, although it’s still down about 20% from the height of the market in 2006-07. Going forward, we expect that Orange still has some room for growth, and that demand will stay strong through the winter and spring markets.
To learn more about Better Homes and Gardens Real Estate Rand Realty, visit their website and Facebook page, and make sure to “Like” their page. You can also follow them on Twitter, Pinterest, and Instagram.
Fourth-Quarter 2018: Real Estate Market Report – Rockland County, NY
The Rockland seller’s market continues to be constricted by low levels of inventory, which are holding back sales, even while driving prices up. Single‑family home sales were down sharply in the fourth quarter, falling almost 14%, finishing a full year in which they fell almost 11%. But prices were up, rising a tick on average and almost 3% at the median, closing a year in which pricing rose 5% on average and almost 5% at the median. We see the same story with condos, with sales down and prices up for the quarter. So what’s going on? Basically, Rockland needs more fuel for the fire. Demand is strong, but supply is too low to sustain sales increases, even while too many buyers chasing too few homes is driving prices up across the board. But that might be changing, with inventory starting to rise after years of falling, as home owners see prices going up and are tempted into the market. Going forward, we expect that demand will sustain meaningful price appreciation through the winter and spring markets, and that increased inventory might help boost sales as well.
To learn more about Better Homes and Gardens Real Estate Rand Realty, visit their website and Facebook page, and make sure to “Like” their page. You can also follow them on Twitter, Pinterest, and Instagram.
Fourth-Quarter 2018: Real Estate Market Report – Westchester County, NY
The Westchester housing slowed slightly in the fourth quarter of 2018, particularly in the higher‑priced segments of the market, perhaps as a result of the Tax Reform cap on state and local tax deductions. For the quarter, sales of single‑family homes fell almost 6%, and pricing was mixed: down about 2% on average, up a tick at the median, and down almost 3% in the price‑per‑square‑foot. In contrast, sales in the lower‑priced entry‑level coop and condo markets were more robust, with transactions up over 11% for coops and almost 2% for condos, and average prices up 5% for coops and 1% for condos. The divergence between the higher‑priced single‑family market and the coop/condo market might come from the tax changes, which would particularly hit higher‑income home‑buyers in the higher‑priced markets. Still, though, demand is relatively strong, and with inventory starting to creep up, we might see a more robust start to 2019.
To learn more about Better Homes and Gardens Real Estate Rand Realty, visit their website and Facebook page, and make sure to “Like” their page. You can also follow them on Twitter, Pinterest, and Instagram.
Fourth Quarter 2018: Real Estate Market Report – Lower Hudson Valley, NY
Sales in Westchester and the Hudson Valley housing markets were down throughout the region, even while high buyer demand, coupled with low levels of inventory, drove meaningful price appreciation in most of the regional markets.
Sales were down throughout the region. Regional transactions fell across the board in the fourth quarter, dropping almost 7% for single‑family homes and 5% for condos. We saw the same story for the full 2018 year, with sales down over 4% for single‑family homes and about 1% for condos. To put these numbers in perspective, though, we closed almost 15,000 single‑family homes and almost 3,000 condos in 2018, up from about 9,000 single‑family homes and 2,000 condos back at the bottom of the market 10 years ago. So we’ve had a pretty good run‑up of sales in the past 10 years and were due to plateau at some point.
Prices were up in most of the markets of the region, particularly in the lower‑priced market segments.
Essentially, we had a “tale of two markets” developing in the region, with pricing flat only for the highest‑priced property type in the region – Westchester single‑family homes – even while average prices were up for every other county in the region for the year: up 6% in Putnam, 5% in Rockland, 9% in Orange, and 10% in Dutchess. And full‑year pricing in the entry‑level condo and coop markets was up in every market: rising 6% for Westchester coops, with condos up 0.1% in Westchester, 15% in Putnam, 1% in Rockland, 12% in Orange, and 7% in Dutchess.
So what was holding back pricing for Westchester single‑family homes? We might be seeing the effects of the 2018 Tax Reform, which capped deductions for state and local taxes, and could be having a disproportionate impact on high‑end buyers in high‑property‑tax Westchester. Unlike buyers in the entry‑level condo and coop market, or in the lower‑priced counties, Westchester luxury buyers are more likely to itemize their taxes, so they might be feeling the bite of the cap more acutely. This could be reducing demand at the higher‑ends of the market, suppressing the price appreciation we are seeing in the rest of the region.
Going forward, we believe that the market is still poised for growth. Sales are falling mostly due to a lack of supply, not a lack of demand. Essentially, the market needs more “fuel for the fire” – more viable inventory for the buyers who are looking. And that might be happening: regional single‑family home inventory was up almost 10% from last year, rising for the second quarter in a row after 25 straight quarters of year‑on‑year declines. This makes some economic sense, of course, since we would expect that sustained price appreciation over a period of time should tempt more homeowners into the market. The question is whether buyer demand is strong enough to continue driving price appreciation, even while absorbing this increased inventory. Ultimately, we believe that the region is still growing as a seller’s market, which should allow for both increases in sales and prices in what will be a robust spring market.
To learn more about Better Homes and Gardens Real Estate Rand Realty, visit their website and Facebook page, and make sure to “Like” their page. You can also follow them on Twitter, Pinterest, and Instagram.
Real Estate Veteran Lydia Hendricks Named Career Development Manager at Better Homes and Gardens Rand Realty New City
Better Homes and Gardens Rand Realty announced that Lydia Hendricks, a seasoned real estate manager, has joined its New City office as the Career Development Manager.
Lydia, a licensed Real Estate Associate Broker for 17 years, “happily made the move to Better Homes and Gardens Rand Realty” last month.
“My decision to move to Better Homes and Gardens Rand Realty is one of the greatest career moves I have ever made. I look forward to assisting the agents in the New City office with their career direction so that they can achieve the greatest level of growth and success possible,” she said.
“Its focus on career development is what sets Better Homes and Gardens Rand Realty apart from other real estate firms. They really care about the success of their agents,” Lydia added.
According to JP Endres, manager of the Better Homes and Gardens Rand Realty New City, office: “Lydia’s experience and success in the industry will have an important impact on our agents and give them added support and every possible advantage in all areas of their business.”
She continues, “I have never been so excited for our future. Lydia completes our management dream team, she is the perfect fit for our office culture and our continued growth plan. Our office offers the best talent in the industry, working together as a team for the benefit of our agents and our clients.”
Prior to her new position, Lydia has been managing real estate offices and coaching agents. “I understand all levels and areas of the real estate industry,” she said. “I started as an agent, then I worked in recruiting and training, and now managing. I know what it takes to be successful in real estate and I look forward to passing this knowledge on to my new colleagues.”
Better Homes and Gardens Rand Realty Announces Growth in Central Valley Office – Julie Piazza Joins Leadership Team
Better Homes and Gardens Rand Realty has announced the promotion of Julie Piazza to Branch Manager of the Central Valley Better Homes and Gardens Rand Realty office — the company’s top producing office in Orange County.
Prior to her new position, Julie was the Business Development Manager for all five of the Better Homes and Gardens Rand Realty offices in Orange County, where she was responsible for recruiting, training and coaching agents. She began her career in real estate in 2004 and joined Better Homes and Gardens Rand Realty in October 2010, where she quickly rose to become one of the company’s top producing agents.
“Julie has been a tremendous asset to our Central Valley office, as well as to our entire Orange County region,” said Renee Zurlo, Regional Manager for Better Homes and Gardens Rand Realty Orange County. “Her vast sales experience combined with her knowledge of our systems, technology and coaching techniques has helped our new and experienced agents thrive, meet their goals and quickly build successful businesses.”
Renee adds, “Julie has a strong team of hard working and extremely successful sales associates, who continually support and encourage each other to stay on top. I am confident that our Central Valley office will experience continued growth and success.”
Julie joins Renee Zurlo as the leadership team in Central Valley, with over 80 agents.
Says Julie Piazza: “I am looking forward to continued growth for the office as a whole and individually, and will work very hard to ensure that everyone feels supported and reaches their goals.”
