Better Homes and Gardens Rand Realty’s Celina Rofer Voted Best Real Estate Agent

Better Homes and Gardens Rand Realty’s Celina Rofer Voted Best Real Estate Agent

The Times Herald Record Readers’ Choice Best of the Best 2019 Winner — Celina Rofer, Associate Broker, Better Homes and Gardens Rand Realty 

 

Central Valley, NY – Celina Rofer, Associate Broker, Better Homes and Gardens Rand Realty, Central Valley has been named among the “Best of the Best” in The Times Herald Record Readers’ Choice Awards.

With 14 years of Real Estate experience, 10 of which have been with Better Homes and Gardens Rand Realty, Rofer says that she prides herself on giving the best of herself and her team to her clients. “Ask any Realtor and they will say their clients are the best, but…I’m just going to say it, My clients are the best!  They understand we are a team from the first meeting to closing. It becomes a great working relationship which often ends up in long-lasting friendships. After being a Realtor® for 14 years, I cannot imagine myself doing anything else,” says Rofer.  She credits her support team for her success. “I’m especially fortunate to have the best support team, professionally and personally. Without my family, my Rand family and my close friends I wouldn’t be able to do any of this successfully. It really does take a Village.”

She added, “The Times Herald Record’s Best of the Best Reader’s Choice event is extremely prestigious and it is truly an honor to be selected as the winner of the Best Real Estate Agent category.  It’s so exciting and was such a memorable night. Congratulations go out to everyone in every category!”

Along with being a successful Real Estate Broker, Rofer is an active member of her community, serving as the Vice President of the Greater Washingtonville Lions Club, where she is spearheading the building of an inclusive playground in the Village of Washingtonville, the biggest project in the club’s history. Rofer sponsored her first Washingtonville Little League team this year and is also a sponsor of the Washingtonville Youth Football Club and a Platinum sponsor of the Washingtonville Date Night summer events.

“This is a well-deserved honor for Celina Rofer; she is a true team player and gives her all to her clients, day in and day out,” says Matt Rand, CEO Better Homes and Gardens Rand Realty. “Our entire Better Homes and Gardens Rand Realty family is extremely proud of her!”

Posted on July 31, 2019 at 10:15 am
Adam DiFrancesco | Category: In the News, New York, Orange County

Better Homes and Gardens Rand Realty is Orange County’s Best Real Estate Company

Better Homes and Gardens Rand Realty is Orange County’s Best Real Estate Company for the 5th Consecutive Year

The Times Herald Record Readers’ Choice Best of the Best 2019 Winner — Better Homes and Gardens Rand Realty

Central Valley, NY – Better Homes and Gardens Rand Realty has been named “Best Real Estate Company,” standing among the “Best of the Best” in  The Times Herald Record Readers’ Choice Awards. This is the fifth consecutive win for the brokerage.

As a premier real estate company in the Hudson Valley for over 35 years, Better Homes and Gardens Rand Realty’s team of sales associates leads the way in excellence. “We’re humbled by the kindness and loyalty of our clients and The Times Herald Record readers – and we graciously thank them for voting for us year after year,” says Renee Zurlo, General Manager, Greater Hudson Valley Region, Better Homes and Gardens Rand Realty.

Better Homes and Gardens Rand Realty brings together the resources of a large national company, with the local expertise of a family-owned business. “Our family has grown up in the Hudson Valley, so we have a deep and personal understanding of our clients’ wants and needs and what the region has to offer. We greatly appreciate The Times Herald Record Readers for recognizing our company and sales associates, along with our endless commitment to our communities and the clients we serve,” says Matt Rand, CEO Better Homes and Gardens Rand Realty.

Posted on July 31, 2019 at 9:50 am
Adam DiFrancesco | Category: In the News, New York, Orange County

Second Quarter 2019: Real Estate Market Report – Orange County, New York

 

Demand in the Orange County housing market continued to grow in the second quarter of 2019, even while a lack of inventory stifled sales growth. Single-family home sales fell sharply compared to the second quarter of 2019, dropping almost 11%, but we believe that has more to do with a shortage of supply rather than a lack of demand. Why? Because quarterly single-family home prices were way up across the board, rising almost 3% on average, 6% at the median and 8% in the price-per-square-foot. And condo prices absolutely spiked, rising almost 20% on average, 16% at the median, and over 15% in the price-per-square-foot. Unlike its higher-priced neighbors like Westchester and Rockland, Orange has been largely immune from the impact of the 2018 tax reform cap on state and local tax deductions, because buyers at Orange’s price point are more likely to take the standard deduction anyway. Going forward, we believe Orange prices will continue to appreciate through the summer and fall, and expect that sales might go up if we see more inventory hit the market.

Posted on July 15, 2019 at 11:40 am
Adam DiFrancesco | Category: In the News, New York, Orange County, Quarter Market Report

Second Quarter 2019: Real Estate Market Report – Dutchess County, New York

 

The Dutchess housing market was a “Tale of Two Markets” in the second quarter of 2019, with single-family home sales softening a bit even while condo sales surged. After a sizzling start to the year, the single-family market cooled, with sales and prices both falling. But the lower-priced condo market was up, with sales rising over 6% and prices up about 3% on average and 4% at the median. Essentially, both markets should be doing well with these kinds of strong housing fundamentals – rates are low, inventory is low, prices are relatively low, and the economy is strong, But only the condo market is behaving like a proper seller’s market, because the 2018 Tax Reform cap on state and local taxes has suppressed sales growth and price appreciation in higher-priced markets. Essentially, the SALT cap affects taxpayers who are more likely to itemize their taxes, which includes the higher-income home buyers for single-family homes. But the SALT cap has less of an impact in the lower priced-condo market, since buyers at that price point are more likely to take the standard deduction. All that said, we believe that at some point the SALT cap hit will get priced into the Dutchess market, and that the economic fundamentals will eventually drive sales growth and price appreciation in both single-family and condo markets.

Posted on July 15, 2019 at 11:39 am
Adam DiFrancesco | Category: Dutchess County, In the News, New York, Quarter Market Report

Second Quarter 2019: Real Estate Market Report – New York Overview

 

The housing market in Westchester and the Hudson Valley continued to be a “tale of two markets” in the second quarter of 2019, with more expensive single‑family home sales and prices continuing to struggle while lower‑priced condo markets soared. We attribute this divergence to the 2018 Tax Reform cap on state and local tax deductions, which is suppressing what should be a strong, growing seller’s market.

Single‑family home sales and prices were down across the board. Regional sales compared to last year’s second quarter were down almost 6%, and down in just about every county. Similarly, the regional average price for a single‑family home fell 2.5% from the second quarter of last year, with prices down in every county other than Orange, the lowest‑priced market in the region. The regional average sales price was up just a tick for the rolling year, so we have not yet seen any longer‑term depreciation in the market.

On the other hand, the lower‑priced condo markets are booming. Regional condo sales were up over 2% from last year’s second quarter, with average prices rising an eye‑popping 14%. Indeed, the average condo price spiked in many counties throughout the region: Westchester up 15% (and up 6% for coops), Rockland up 16%, Orange up 20%, and Dutchess up 3%. This capped an extraordinarily strong yearlong run for condos, with prices up almost 7% for the year, and rising in every county in the region.

So why is the condo market booming? Well, the fundamentals of the market could not be stronger: interest rates are back down to historic lows, prices are basically at 2004 levels without even adjusting for inflation, and every national and regional economic indicator is positive. That’s why we are seeing condo sales and prices at levels we haven’t reached since the market correction ten years ago.

The better question is: why isn’t the single‑family market booming? And the answer to that is simple: the 2018 Tax Reform cap on state and local tax deductions (the “SALT Cap”), which is having a disproportionate impact on middle‑ and higher‑end home buyers. Why? Because taxpayers in those markets are more likely to itemize their taxes rather than take the standard deduction, which means they’re more likely to feel the pinch of the $10,000 SALT Cap.

That’s why we have a “Tale of Two Markets.” The SALT Cap is suppressing sales and price appreciation in the higher‑priced markets but having little or no impact on lower‑price markets – including single‑family counties like Orange, and condos throughout the region. The SALT Cap hasn’t caused anything like the devastation of the market correction in 2008‑09, but it is still hampering the growth of what should be a robust seller’s market.

Going forward, we still believe that the market is still poised for growth in the summer and fall. At some point, the impact of the SALT Cap will get priced into the market, and the single‑family market will start behaving like the condo market. Again, the seller market fundamentals are very strong: the economy is growing, interest rates are near historic lows, inventory is relatively low, and homes are still priced at attractive levels well below their historical highs.

Posted on July 15, 2019 at 11:39 am
Adam DiFrancesco | Category: Hudson Valley, In the News, New York, Quarter Market Report

Second Quarter 2019: Real Estate Market Report – Rockland County, New York

 

The Rockland housing market was a “Tale of Two Markets” in the second quarter of 2019, with single-family home sales struggling and condo sales soaring. After a surge to start the year, the single-family market softened, with sales and prices both falling. But the lower-priced condo market surged, with quarterly prices spiking over 16% on average and at the median. Essentially, both markets should be booming in response to the strong housing fundamentals – rates are low, inventory is low, prices are relatively low, and the economy is strong – but only the condo market is behaving like a proper seller’s market. Why the discrepancy? We believe it’s due to the 2018 Tax Reform cap on state and local tax deductions, which particularly suppresses growth in higher-priced markets (like Rockland single-family homes), where buyers are more likely to itemize their taxes. The SALT cap has less of an impact in the lower priced-condo market, since buyers at that price point are more likely to take the standard deduction. That’s why the condo market is soaring while the single-family market struggles a bit. All that said, we believe that at some point the SALT cap hit will get priced into the market, and that the economic fundamentals will eventually drive sales growth and price appreciation in both markets.

Posted on July 15, 2019 at 11:39 am
Adam DiFrancesco | Category: In the News, New York, Quarter Market Report, Rockland County

Second Quarter 2019: Real Estate Market Report – Westchester County, New York

 

The Westchester housing market was the quintessential “Tale of Two Markets” in the second quarter of 2019, with single-family homes struggling while condo and coop sales soared. Single-family home sales were down, continuing a trend we have been watching since the 2018 Tax Reform’s cap on state and local tax deductions (“SALT Cap”). As we expected, the SALT Cap has impacted the higher-end Westchester single-family market, where more home buyers are likely to itemize their deductions and feel the effect of the cap. But condo and coop buyers are more likely to take the standard deduction for the federal taxes, which means they’re not feeling the pinch of the SALT Cap. And as a result, coop and condo sales are soaring, with quarterly sales up almost 8% for coops and 7% for condos, and average prices up over 6% for coops and an eye-popping 15% for condos. The question is when the single-family market will finally price in the SALT Cap hit and start responding to the fundamentals that are driving growth in the lower-priced condo market: interest rates back near historic lows, attractive pricing, and a strong economy.

Posted on July 15, 2019 at 11:39 am
Adam DiFrancesco | Category: In the News, New York, Quarter Market Report, Westchester County

Second Quarter 2019: Real Estate Market Report – Bronx County, New York

 

Strong demand in the Bronx housing market in the second quarter of 2019 drove pricing up even while limited inventory stifled sales growth.

Pricing
. Overall pricing was up 14.5% compared to the second quarter of last year, and up for most property types: rising a whopping 32% for single‑family homes, 4% for multi‑families, and 11% for condos. The exception was pricing for cooperative apartments, which fell about 9% for the quarter – even while it was up over 2% for the rolling year.

Sales
. We saw much the same story in sales, which were up 3% for single‑families, 9% for multi‑families, and 10% for condos – but, again, were down for coops, by almost 20%. We do not see why coops would be behaving so differently from other property types, so we will keep an eye on this for the third quarter.

Inventory
. The number of homes for sale was up in most property types, with homeowners responding to the attraction of rising prices. Inventory is still, though, in the 5‑6 month range for most property types, a level that usually indicates a seller’s market.

Outlook
. Going forward, we believe that Bronx sellers and homeowners have reason to be optimistic about where the market is going. The fundamentals are very strong: the economy is growing, inventory is still low, interest rates are near historic lows, and demand is strong. We expect that, even with the challenges of a slowdown in Manhattan, the Bronx market will grow through the summer and fall, with both sales growth and price appreciation

Posted on July 15, 2019 at 11:33 am
Adam DiFrancesco | Category: In the News, New York

First Quarter 2019: Real Estate Market Report – Lower Hudson Valley, NY

The housing market in Westchester and the Hudson Valley was a “tale of two markets” in the first quarter of 2019, with a sharp divergence between higher-priced and lower-priced counties. But we believe that the market is still poised for sales growth and price appreciation in what will be a relatively robust spring market.

Regional sales were down, but the results varied by county and property type. Regional single-family sales fell about 3% for the quarter, but that cumulative number masked a real divergence in the county results. For example, sales were down almost 5% in Westchester, 5% in Putnam, and over 15% in Dutchess, but they were up 8% in Rockland and over 1% in Orange. Results in the condo markets were also mixed, with sales falling in Westchester, Putnam, and Rockland, but up in Orange and Dutchess.

Similarly, prices were up regionally, but results were much stronger in lower-priced markets. For the region, the average price of single-family homes was up almost 2% for the rolling year, even with a slight tick down compared to last year’s first quarter. But, again, those cumulative regional results do not really tell the story, since price appreciation varied dramatically by county. Just looking at the longer-term trend for the rolling year, average prices were down a tick for Westchester single-family homes, but up sharply in all the other Hudson Valley counties: rising almost 4% in Putnam, over 4% in Rockland, over 8% in Orange, and over 11% in Dutchess. Moreover, price appreciation was much stronger in the lower-priced condo markets throughout the region. Rolling year average prices were up over 2% for the region, and up in every individual condo market, rising almost 1% for Westchester (and almost 4% for Westchester coops), 10% for Putnam, 4% for Rockland, 11% for Orange, and 7% for Dutchess.

Essentially, we are seeing a “tale of two markets,” with sales and price appreciation higher in lower-priced markets and property types. We believe this divergence has been caused by the 2018 Tax Reform’s cap on state and local tax deductions (“SALT Cap”). When the tax code implemented Tax Reform, we speculated that the SALT Cap might have a more significant impact on higher-end markets. Why? Because taxpayers in those markets are more likely to itemize their taxes and thereby feel the pinch of the $10,000 SALT Cap. But in the lower-priced markets, homeowners and buyers are more likely to be at income levels where they tend to take the standard deduction, meaning that the SALT Cap would have little effect on them.

Essentially, the SALT Cap is suppressing sales and price appreciation in the higher-priced markets like single-family homes in Westchester, but having little or no impact on lower-priced markets – including single-family homes in the other counties and condos throughout the region. Indeed, we are seeing the same thing throughout the metropolitan region – in the Northern New Jersey suburbs, for example, prices were down in higher-priced markets like Hudson, Bergen, Morris, and Essex but up in lower-priced markets like Passaic and Sussex.

The SALT Cap is not devastating the high-end markets – for example, the rolling year average price in Westchester was basically flat – but it is hampering what would otherwise be a fairly robust seller’s market.

Going forward, we still believe that the market is still poised for growth.

At some point, we expect the impact of the SALT Cap to get priced into the market, because otherwise the seller market fundamentals are very strong: the economy is growing, interest rates are near historic lows, inventory is relatively low, and homes are still priced well below their highs. Accordingly, we expect a relatively robust spring market throughout the region.

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 TwitterPinterest, and Instagram.

Posted on April 15, 2019 at 4:09 pm
Adam DiFrancesco | Category: In the News, New York, Quarter Market Report

First Quarter 2019: Real Estate Market Report – Bronx County, NY

The Bronx housing market stumbled in the first quarter of 2019, slowing after torrid growth throughout most of 2018.  Sales were down sharply for most property types, and prices were mixed. Going forward, we will be watching to see if this trend continues in the traditionally robust spring market, but believe that the fundamentals of the market are still very strong.

Prices were mixed, depending on property type.  The average price was up just a little more than 1% for the quarter overall, but that masked a real divergence based on property type, with condos and single-family homes down, but multi-family and coops up.  Even with the market slowing in the first quarter, though, the rolling year numbers were very strong, with the average price up almost 11% overall, and up in every property type: rising 3% for single-family homes, 10% for multi-family, 5% for coops, and 13% for condos.

But sales were down in almost all property types.  Overall, sales were down 11% compared to last year’s first quarter, falling for most property types: down 10% for single-family homes, 20% in multi-families, and 18% for condos. Quarterly sales were only up for coops, rising 4%.  And now, for the first time in years, we’re seeing sales down for the full rolling year, dropping almost 4% overall.

So why did the market slow in the first quarter? It might just be a short-term “breather” after the torrid pace over the past few years; the market has simply exploded over the past few years, and could not keep that up forever. Indeed, the Bronx might be feeling the effects of a much more severe slowdown in the Manhattan market, which is experiencing its first major correction in years. And we might also be seeing the impact of the 2018 Tax Reform cap on state and local tax deductions, which has had a modest but meaningful effect of suppressing sales growth and price appreciation in higher-end markets throughout the region.

Going forward, though, we believe that Bronx sellers and homeowners have reason to be optimistic about where the market is going. The fundamentals are very strong: the economy is growing, inventory is still low, interest rates are near historic lows, and demand is high. We expect that, even with the challenges of the Manhattan slowdown and the tax cap, the Bronx market will grow in the traditionally robust spring market, with both sales growth and price appreciation.

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 TwitterPinterest, and Instagram.

Posted on April 15, 2019 at 3:55 pm
Adam DiFrancesco | Category: In the News, New York, Quarter Market Report