AXRE, Corp. Joins Better Homes and Gardens Rand Realty

NANUET, NY – In what continues to be Better Homes and Gardens Rand Realty’s further expansion throughout Westchester County, New York, they’re excited to announce that AXRE, Corp. of White Plains has merged with their company.

“My team and I have been working in this market for almost two years, and we’re thankful to have the opportunity to join Rand Realty, who’ve made a strong impression in Westchester,” said Nikolas Stanovic, president and principle broker of AXRE, Corp.  “Our team is passionate about this industry, and we’re thrilled to be taking this next big step in our profession.”

Stanovic has been involved with real estate since 2007, finding success in managing residential and commercial properties throughout New York and Connecticut, and he continues to do so today.  He holds a broker’s license. 

Stanovic opened AXRE, Corp. in July 2016.  Their brokerage served New York City, Westchester County, Putnam County, and from Greenwich to New Haven in Connecticut.  For the transition to Rand Realty, Stanovic brings his team of eight dedicated salespeople, who will be working out of Rand Realty’s branch in White Plains, while Nik will be working as the new manager at Rand’s branch in the Bronx.

“Nikolas and his agents have a strong ambition that makes them tailor-made for our company,” said Denise Friend, Rand Realty’s regional manager for Westchester County.  “It’s impossible for their achievements to go unnoticed, and their experience guarantees that they’ll bring us some of our highest successes to date.”

“AX Real Estate is a young, ambitious team that began with rentals and has grown into a respected boutique firm,” said Matthew Rand, CEO of Rand Realty.  “Not only are we proud to have these agents join our company, but we’re also excited to have Nikolas as our new Bronx manager.”

 

About Better Homes and Gardens Rand Realty

Better Homes and Gardens Rand Realty, founded in 1984, is the No. 1 real estate brokerage firm in the Greater Hudson Valley, with 28 offices serving Westchester, Rockland, Orange, Putnam, and Dutchess Counties in New York, as well as Bergen, Passaic, and Morris Counties in New Jersey. 

Better Homes and Gardens Rand Realty has more than 1,000 residential real estate sales associates, as well as a commercial real estate company (Rand Commercial) and the Hudson United Group, which provides residential mortgage lending, title services, and commercial and residential insurance. 

These companies can be found online at www.RandRealty.com, www.RandCommercial.com, and www.HudsonUnited.com.  Better Homes and Gardens Rand Realty can also be found and interacted with on Facebook, Twitter, Pinterest, and Instagram.

Posted on June 21, 2018 at 3:50 pm
Vincent Abbatecola | Category: In the News, Rand Country Blog | Tagged , , , , , , , , , , ,

Better Homes and Gardens Rand Realty Welcomes New Manager for Yonkers and Bronx Offices

NANUET, NY – Better Homes and Gardens Rand Realty is thrilled to welcome Nicole Borsey to their leadership team for the Yonkers and Bronx offices.

“Rand Realty teaches their agents groundbreaking techniques for navigating the real estate industry, and I’m grateful for the opportunity to lead my agents as we use those strategies to tackle some of the Hudson Valley’s most-active markets,” said Borsey.

Borsey has 15 years of residential and commercial real estate experience. She has collaborated with homebuyers, homebuilders, and investors, and has gained a comprehensive knowledge in development, property management, real estate-owned asset management, and short sales. During her career, Borsey reached top-producer status as a sales agent, was named best real estate agent by Fairfield Weekly for two consecutive years, and has been given specialized training to sell distressed properties.

Borsey graduated from Fordham University, after which she attended New York University, where she earned a certificate in digital media production. She utilized that experience to establish her own residential real estate firm, The Property Network, which was based in Stamford.

Borsey’s dually licensed in New York and Connecticut. She’s a member of the National Association of REALTORS®, the Hudson Gateway Association of REALTORS®, the Bronx-Manhattan North Association of REALTORS®, the Connecticut Association of REALTORS®, and the Stamford Board of REALTORS®.

“Nicole comes to us with a wealth of talent that will be of significant help as she guides her agents towards future successes,” said Denise Friend, Rand Realty’s regional manager for Westchester County. “I can’t think of anyone else who’s more qualified to lead these two offices.”

 

About Better Homes and Gardens Rand Realty

Better Homes and Gardens Rand Realty, founded in 1984, is the No. 1 real estate brokerage firm in the Greater Hudson Valley, with over 28 offices serving Westchester, Rockland, Orange, Putnam, and Dutchess Counties in New York, as well as Bergen, Passaic, and Morris Counties in New Jersey.

Better Homes and Gardens Rand Realty has over 900 residential real estate sales associates, as well as a commercial real estate company (Rand Commercial) and the Hudson United Group, which provides residential mortgage lending, title services, and commercial and residential insurance.

These companies can be found online at www.RandRealty.com, www.RandCommercial.com, and www.HudsonUnited.com. Better Homes and Gardens Rand Realty can also be found and interacted with on Facebook, Twitter, Pinterest, and Instagram.

Posted on May 21, 2018 at 1:14 pm
Vincent Abbatecola | Category: In the News, Rand Country Blog | Tagged , , , , , , , ,

Real Estate Market Report: 1st Quarter 2018 – Westchester County, NY

Westchester’s activity was again stifled by a depleted inventory, which drove sales down in single‑family homes and held them flat for condos and coops. Prices were mixed, with average prices down 3% for single‑family homes and 4% for condos, even while the entry level coop market soared, rising almost 13%. Over the full year, though, average prices are trending up for all property types, rising 3% for single‑family, 2% for condos, and 5% for coops. We expect that low inventory and high demand will drive more price appreciation in a robust spring, and that eventually these rising prices will bring more sellers into the 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.

Posted on April 10, 2018 at 3:12 pm
Vincent Abbatecola | Category: Quarter Market Report, Rand Country Blog | Tagged , , , , , ,

Real Estate Market Report: 1st Quarter 2018 – Lower Hudson Valley (NY)

The housing market in the New York City northern suburbs of Westchester and the Hudson Valley has become a fully‑realized seller’s market, with declining inventory stifling sales growth while driving meaningful price appreciation throughout the region.

The regional market continues to suffer from a lack of inventory. The number of homes available for sale compared to last year fell sharply in every market in the region. At the current absorption rate, we are now down to well under five months of inventory in every county for single‑family homes, and down to under four months for the lower‑priced condo market. That’s significantly below the six‑month level that usually denotes a seller’s market.

This lack of inventory is holding back sales. Regional transactions were down over 6% from last year’s first quarter, and were down in every county except Putnam: falling 6% in Westchester, 19% in Rockland, 0.3% in Orange, and 13% in Dutchess. For the rolling year, the drop was more moderate, with sales down just 1.5% regionally. But this isn’t a demand problem—demand is strong everywhere in the region.

But with all this demand chasing fewer homes, prices are up significantly across the region. The average sales price was up for every county and property type except for Westchester single‑family homes and condos, which might be a reflection of stronger demand at more entry‑level price points. The longer‑term trend, though, indicates that prices are generally appreciating at a moderate but meaningful rate, with the rolling-year average sales price for single‑family homes up over 2% for the region, and up in each county: rising 3% in Westchester, 5% in Putnam, 4% in Rockland, 4% in Orange, and 5% in Dutchess.

Going forward, this is what a seller’s market looks like. Low levels of inventory will continue to hold sales back even while driving prices up. At some point in 2018, this price appreciation will attract more sellers into the market, which will increase supply, bring sales up, and maybe moderate price increases. But that will not happen right away, so we expect a spring market with even lower levels of inventory, which will stifle sales growth but continue to drive robust price appreciation.

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.

Posted on April 10, 2018 at 1:55 pm
Vincent Abbatecola | Category: Quarter Market Report, Rand Country Blog | Tagged , , , , , , , , , ,

Better Homes and Gardens Rand Realty to Hold Open-House Event

NANUET, NY – Better Homes and Gardens Rand Realty is excited to announce that they will be holding an open-house event, where attendees can receive advice on buying and selling homes. It will take place on Saturday, April 14, and Sunday, April 15, from 12:00-4:00 p.m. on both days.

“We’re a few weeks into spring, which means it’s the prime season for the housing industry,” said Denise Friend, Rand Realty’s regional manager for Westchester County. “Our brokerage receives many potential clients during this time of the year, and we would like to offer them guidance on how to achieve their real estate goals.”

All 27 of Rand Realty’s sales offices will be participating in the event, with listings located throughout the Lower Hudson Valley and Northern New Jersey. At these sites, attendees can engage with an agent for one-on-one assistance on how to conduct a home search or market their home for sale. They will also have the opportunity to enter a raffle to win a gift basket, with one being provided by each of the four regions that Rand Realty serves: Rockland, Orange, and Westchester Counties in New York, and Northern New Jersey.

“Being involved in a real estate transaction can be challenging, so it’s important for us to interact with buyers and sellers to make sure that their questions are being answered,” said Friend. “We want them to feel confident when they enter the market.”

 

About Better Homes and Gardens Rand Realty

Better Homes and Gardens Rand Realty, founded in 1984, is the No. 1 real estate brokerage firm in the Greater Hudson Valley, with 28 offices (including a corporate location), serving Westchester, Rockland, Orange, Putnam, and Dutchess Counties in New York, as well as Bergen, Passaic, and Morris Counties in New Jersey.

Better Homes and Gardens Rand Realty has over 1,000 residential real estate sales associates, as well as a commercial real estate company (Rand Commercial) and the Hudson United Group, which provides residential mortgage lending, title services, and commercial and residential insurance.

These companies can be found online at www.RandRealty.com, www.RandCommercial.com, and www.HudsonUnited.com. Better Homes and Gardens Rand Realty can also be found and interacted with on Facebook, Twitter, Pinterest, and Instagram.

Posted on April 3, 2018 at 12:20 pm
Vincent Abbatecola | Category: In the News | Tagged , , , , , , , , , , , , , ,

Fourth Quarter 2017 Real Estate Market Report: Westchester County Overview

The Westchester housing market finished strong in 2017, with a surge in prices even while a lack of inventory held back sales growth.

Sales. Home sales were up just a tick, rebounding a bit from their sudden decline in the third quarter. You can see the continued impact of a lack of inventory, though, with sales down almost 2% for the full year. Still, with over 6,100 sales for the year, transactions in Westchester are now at their highest level since 2005, and almost double where they were at the bottom of the market in 2009.

Prices. With inventory this low, and demand remaining high, we are starting to see some acceleration in price appreciation. Prices were up 5% on average and at the median for the quarter, and for the year finished up 4% on average and 3% at the median. This is welcome news for Westchester homeowners, who saw small average and median price drops over the past two years. That said, the average and median price are still at 2005 levels, without even accounting for inflation.

Negotiability. The negotiability indicators continue to signal the emergence of the seller’s market. Inventory declined again, falling over 8% and now at the lowest level of inventory we have had in Westchester in over 12 years, since the height of the last seller’s market. Similarly, for the full year, the listing retention rate was up, and the days‑on‑market was down, indicating that homes are selling more quickly and for closer to the asking price.

Condos and Coops. The condo and coop market was more uneven. The condo market was sizzling, with average prices up over 8% in the quarter and almost 5% for the year. Sales were down, but that’s certainly because inventory is below the three‑month level. The coop market was more mixed, with sales up for the year and prices relatively flat, even while inventory fell to the three‑month level.

Going forward, we expect that Westchester will continue to see meaningful price appreciation in 2018, especially if inventory remains tight. With pricing near 2005 levels and interest rates near historic lows, we believe that the seller’s market will thrive in the new year.

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.

Posted on January 17, 2018 at 3:29 pm
Vincent Abbatecola | Category: Quarter Market Report, Rand Country Blog | Tagged , , , , ,

Fourth Quarter 2017 Real Estate Market Report: Westchester & Hudson Valley Market Overview

The housing market in Westchester and the Hudson Valley finished the year strong in the fourth quarter of 2017, with meaningful price appreciation throughout the region driven by low inventory and high demand. Although sales have slumped a bit due to the lack of available homes for sale, rising prices might tempt new sellers to come into this growing seller’s market.

Inventory throughout the region continues to fall. Regional inventory was down to 4.6 months. Historically, when inventory drops below the six month level, it usually signals a seller’s market, and many of the individual counties in the region are now at‑or‑below six‑months’ worth of inventory: Westchester single‑family homes are now at 3.5, Putnam at 4.7, Rockland at 4.0, and Orange at 4.7. The lack of inventory continues to stifle sales growth. Regional sales were up for the first time in three quarters, rising almost 6% from the fourth quarter of last year. For all of 2017, sales were up less than 1%, the lowest year‑on‑year increase since 2011. But the problem isn’t lack of buyer demand, which remains strong. Rather, it’s simply that we don’t have enough homes for sale to satisfy the existing demand. Even with the lack of inventory, sales are approaching record highs. The 15,489 regional single‑family home sales in 2017 marked the highest yearly total since 2004, at the height of the last seller’s market. Indeed, sales totals are now almost doubling what we saw at the bottom of the market in 2009. Most significantly, high demand and low inventory are driving meaningful price appreciation. The regional average sales price was up for the fourth quarter in a row, rising almost 3%. We are starting to see long‑term price appreciation, with the regional average price also up 3% for the year. Moreover, appreciation was widespread, with yearlong average prices up in every county in the region: 4% in Westchester, 2% in Putnam, 4% in Rockland, 5% in Orange, and 3% in Dutchess. This is the first time we’ve seen such shared prosperity in over 10 years. Going forward, we believe that prices will continue to appreciate through 2018. Demand is strong, bolstered by near‑historically‑low interest rates, prices that are still near 2003‑04 levels (without controlling for inflation), a generally strong economy, and sharply declining inventory. The question is if we will see sales growth, which will depend on whether homeowners see prices going up and decide to get into this market, bringing fresh new listings to satiate the existing buyer demand. All in all, this is what a seller’s market looks like. High sales totals. Low inventory. Rising prices. All the signs point to an extremely robust 2018 throughout the region. WESTCHESTER

The Westchester housing market finished strong in 2017, with a surge in prices even while a lack of inventory held back sales growth.

Sales. Home sales were up just a tick, rebounding a bit from their sudden decline in the third quarter. You can see the continued impact of a lack of inventory, though, with sales down almost 2% for the full year. Still, with over 6,100 sales for the year, transactions in Westchester are now at their highest level since 2005, and almost double where they were at the bottom of the market in 2009.

Prices. With inventory this low, and demand remaining high, we are starting to see some acceleration in price appreciation. Prices were up 5% on average and at the median for the quarter, and for the year finished up 4% on average and 3% at the median. This is welcome news for Westchester homeowners, who saw small average and median price drops over the past two years. That said, the average and median price are still at 2005 levels, without even accounting for inflation.

Negotiability. The negotiability indicators continue to signal the emergence of the seller’s market. Inventory declined again, falling over 8% and now at the lowest level of inventory we have had in Westchester in over 12 years, since the height of the last seller’s market. Similarly, for the full year, the listing retention rate was up, and the days‑on‑market was down, indicating that homes are selling more quickly and for closer to the asking price.

Condos and Coops. The condo and coop market was more uneven. The condo market was sizzling, with average prices up over 8% in the quarter and almost 5% for the year. Sales were down, but that’s certainly because inventory is below the three‑month level. The coop market was more mixed, with sales up for the year and prices relatively flat, even while inventory fell to the three‑month level.

Going forward, we expect that Westchester will continue to see meaningful price appreciation in 2018, especially if inventory remains tight. With pricing near 2005 levels and interest rates near historic lows, we believe that the seller’s market will thrive in the new year.

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.

Posted on January 17, 2018 at 3:12 pm
Vincent Abbatecola | Category: Quarter Market Report, Rand Country Blog | Tagged , , , , , , , , , ,

Third-Quarter 2017 Real Estate Market Report: Westchester County Market Overview

Prices in the Westchester housing market rose again in the third quarter of 2017, even while a lack of inventory suppressed sales growth.

Sales. Home sales were down in the third quarter, falling about 5% from the third quarter of last year and marking the second straight quarter of declining sales in a row. This is almost certainly a lack of inventory stifling sales growth, though, rather than a decline in buyer demand. Still, though, sales are at levels we have not seen in over ten years, almost doubling from the bottom of the market at the end of 2009.

Prices. Low levels of inventory had some impact on prices, up 1% on average, 2% at the median, and down a tick in the price‑per‑square foot. Over the longer‑term, we’re starting to see some meaningful price appreciation, with average prices up almost 4%, and the median up almost 3%, for the rolling year.

Negotiability. The negotiability indicators continue to signal the emergence of the seller’s market. Inventory declined again, falling over 5% and now at the lowest level of inventory we have had in Westchester in over 12 years, since the height of the last seller’s market. Similarly, the listing retention rate was up again, and is now at almost 99% of the last listed price. And the days‑on‑market fell sharply ‑‑ homes are now selling in Westchester within about four months from listing to closing.

Condos and Coops. The condo and coop market was even more robust. Sales of coops were up almost 10%, and condo sales were up just a tick. But that shortage of available condos and coops is having its expected impact on pricing, which was up sharply across the board for both property types in the quarter and for the rolling year.

Going forward, we expect that Westchester is going to continue to see meaningful price appreciation through the rest of the year, especially as inventory continues to tighten. With pricing near 2004‑05 levels and interest rates near historic lows, we believe that the market will continue to thrive in the fall 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.

Posted on November 13, 2017 at 10:18 am
Vincent Abbatecola | Category: Quarter Market Report, Rand Country Blog | Tagged , , , , , ,

Third-Quarter 2017 Real Estate Market Report: Westchester & Hudson Valley Market Overview

The housing market in Westchester and the Hudson Valley surged again in the third quarter of 2017, with strong buyer demand driving meaningful price appreciation even while declining inventory stifled sales growth. With inventory rates continuing to fall, we expect this trend to continue through the rest of the year.

Inventory throughout the region continues to fall. Regional inventory was down almost 23%, and is now down to 6.1 months– right at the level that the industry considers a “balanced” market. But many of the individual counties in the region are now at‑or‑below six‑months’ worth of inventory, which usually signals a rising seller’s market: Westchester single family homes are now at 5.5, Putnam at 6.4, Rockland at 5.5, and Orange at 6.3.

The lack of inventory is stifling sales growth. Regional sales were down for the second straight quarter, falling over 5% from the third quarter of last year. Even though sales were up just a tick for the rolling year, we’re definitely seeing some pressure on sales growth from the lack of inventory on the market. Essentially, we need more “fuel for the fire.” That said, sales are now at levels we have not seen down since the height of the last seller’s market in 2005

These inventory levels are starting to drive meaningful price appreciation. The regional average sales price was up for the third quarter in a row, rising just about 1%. Most importantly, though, we’re starting to see long‑term meaningful price appreciation, with the average price up almost 3% for the rolling year. And quarterly average prices were up in almost every county in the region, rising 1% in Westchester, over 5% in Rockland, 1% in Orange, and over 3% in Dutchess (prices fell about 3% in Putnam).

Going forward, we expect that prices will continue to appreciate through the rest of the year. Demand is strong, bolstered by near‑historically‑low interest rates, prices that are still near 2003‑04 levels (without controlling for inflation), a generally strong economy, and sharply declining inventory. We will need fresh new listings to drive more sales growth, but we expect that we will continue to see price appreciation through a strong fall market and into 2018.

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.

Posted on November 12, 2017 at 4:50 pm
Vincent Abbatecola | Category: Quarter Market Report, Rand Country Blog | Tagged , , , , , , , , , ,

Second Quarter 2017 Real Estate Market Report – Westchester County, New York

Prices in the Westchester housing market surged forward in the second quarter of 2017, even while a lack of inventory stifled potential sales growth.

Sales. Home sales were basically flat through the second quarter, falling just about 1% from the second quarter of last year. This marked the first quarter in almost three years where sales fell from the prior year, reflecting the lack of inventory available in the market. Still, though, sales are at levels we have not seen since the last seller’s market in 2005, and up almost 90% from the bottom of the market at the end of 2009.

Prices. Low levels of inventory also had an impact on prices, which were up significantly over last year. Home prices rose across the board: up over 7% on average, almost 4% at the median, and 3% in the price-per-square foot. Over the longer-term, we’re starting to see some meaningful price appreciation, with average prices up almost 3% for the rolling year.

Negotiability. The negotiability indicators continue to signal the emergence of the seller’s market. Inventory declined again, falling almost 12% and now at the lowest level of inventory we have had in Westchester in over 12 years, since the height of the last seller’s market. Similarly, the listing retention rate was up a full percentage point, exactly what we would expect when sellers start to gain negotiating leverage.

Condos and Coops. The condo and coop market was mixed. Sales of coops were up over 12%, but condo sales were down over 6%, the clear result of constricted inventory levels. But that shortage of available condos and coops is having its expected impact on pricing, which was up across the board for both property types.

Going forward, we expect that Westchester is going to continue to see meaningful price appreciation through a strong summer market. With inventory still tightening, pricing at 2004-05 levels, and interest rates still near historic lows, we expect that buyer demand will stay strong for the rest of the year.

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.

Posted on July 15, 2017 at 3:08 pm
Vincent Abbatecola | Category: Quarter Market Report, Rand Country Blog | Tagged , , , , , ,