Fourth-Quarter 2018: Real Estate Market Report – Dutchess County, NY

Pricing in the Dutchess housing market soared again in the fourth quarter, with prices rising from high demand and limited inventory. Sales were down, just as in the rest of the region, with low levels of inventory holding back the market. But prices were up across the board: single‑family home prices rose over 12% on average and 6% at the median for the quarter, finishing the 2018 year up almost 10% on average and over 9% at the median. And we saw the same results in the condo market, with the full‑year prices rising 7% on average and almost 5% at the median. Going forward, we expect that sellers will eventually be attracted into this rising market, which might drive sales up in 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 TwitterPinterest, and Instagram.

Posted on January 22, 2019 at 10:29 am
Vincent Abbatecola | Category: Quarter Market Report, Rand Country Blog | Tagged , , , , , ,

Fourth-Quarter 2018: Real Estate Market Report – Putnam County, NY

Putnam continues to show every sign of a thriving seller’s market, with low levels of inventory stifling sales growth but driving meaningful price appreciation. For the quarter, sales were down just a tick, but prices were up over 3% on average and almost 6% at the median. And that strong quarter closed a robust 2018, with sales up 2% and prices rising 6% on average and almost 5% at the median. Indeed, the condo market was downright frothy, with sharply reduced inventory holding back sales but driving the full‑year pricing up almost 15% on average and 19% at the median. We think that this kind of price appreciation is not sustainable over the long‑term, but that low levels of inventory, coupled with high demand, will continue to drive meaningful appreciation 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 TwitterPinterest, and Instagram.

Posted on January 22, 2019 at 9:58 am
Vincent Abbatecola | Category: Quarter Market Report, Rand Country Blog | Tagged , , , , , ,

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 TwitterPinterest, and Instagram.

Posted on January 22, 2019 at 9:31 am
Vincent Abbatecola | Category: Quarter Market Report, Rand Country Blog | Tagged , , , , , ,

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 TwitterPinterest, and Instagram.

Posted on January 21, 2019 at 4:56 pm
Vincent Abbatecola | Category: Quarter Market Report, Rand Country Blog | Tagged , , , , , ,

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 TwitterPinterest, and Instagram.

Posted on January 21, 2019 at 4:30 pm
Vincent Abbatecola | Category: Quarter Market Report, Rand Country Blog | Tagged , , , , , ,

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 TwitterPinterest, and Instagram.

Posted on January 21, 2019 at 3:52 pm
Vincent Abbatecola | Category: Quarter Market Report, Rand Country Blog | Tagged , , , , , , , , , ,

Top Westchester Realtor Named Opcity Agent of the Month

Better Homes and Gardens Rand Realty’s Tracey May, of the White Plains office located at 222 Bloomingdale Road, was named “Opcity Agent of the Month” for December. Tracy has been in the real estate industry for close to two decades and is known as a seasoned real estate professional throughout Westchester and New York City.

Opcity is a real estate referral company aiming to turn online inquiries into transactions. The company features an “Agent of the Month” awards program that highlights an agent each month who “stands out from the rest.” Opcity’s program description states that “out of the 40,000 agents who receive leads from Opcity, a few stand out from the rest based on their responsiveness to claim referrals, continued follow up, and dedication to helping their clients buy and sell homes.”

Tracey says that she is “grateful” for the honor she received from Opcity and that she takes advantage of every Opcity referral opportunity. “I’m constantly looking for new clients and opportunities, and I never put all my eggs in one basket.”

She added. “I pride myself on being just a call away when the time arises for an experienced real estate broker.”

Says Jose Maymi, Better Homes and Gardens Rand Realty White Plains office manager: “Tracey truly deserves this award! Our clients really appreciate Tracey’s go-get-it attitude. She jumps at all opportunities that come her way and is always prompt and professional.”

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 January 16, 2019 at 11:40 am
Vincent Abbatecola | Category: In the News, Rand Country Blog | Tagged , , , , , ,

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.”

Posted on January 4, 2019 at 11:32 am
Vincent Abbatecola | Category: In the News, Rand Country Blog | Tagged , , , ,

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.”

Posted on December 27, 2018 at 4:25 pm
Vincent Abbatecola | Category: In the News, Rand Country Blog | Tagged , , , , , , ,

The Best Kept Secret of Success Revealed by Joe Rand and BHG Rand Realty’s Top-Producing Agents

Joe Rand has revealed one of BHG Rand Realty’s top secrets of success!

It’s the Rand Masters Roundtable event, which has become a highly-valued “tool” for top talent; one that often translates into increased business and sales. What first started as a simple networking event for top-producing agents, is now one of our best strategies to drive business and stay competitive

This year’s event was held on November 7th at the Rockland Country Club with approximately 150 agents from Westchester, Rockland, Putnam and Dutchess counties in NY; and Bergen, Passaic, Hudson and Morris counties in New Jersey. The topics and titles selected for the discussion were specifically developed to spark creative thinking that can ultimately lead to a dynamic discussion, including: Bringing the Wow, The Referral Machine, The Discounter Dilemma, Best Idea Ever, Setting the Stage, Social Animals, and more.

According to Joe Rand: “Bringing together the most talented, experienced, strategic minds in the industry to share what they know, their insights, perspectives and ideas – has become one of our most successful strategies for growing our business and increasing sales.”

Here’s how the event works… In a roundtable setting, agents are encouraged to share their ideas, experiences and knowledge; provide tips and details about what has worked for them and what hasn’t, along with their best secrets for closing a deal. The overall goal is to build a culture of knowledge sharing among our agents.

“The Rand Masters Roundtables is a wonderful opportunity for all of Rand’s top agents to get together and discuss important topics in our industry within a roundtable format. I always look forward to it,” said Linda DeFilippo, who has been an award-winning Real Estate Broker Associate at BHG Rand Realty since 2000. A Rockland County resident for over 40 years, she specializes in all of Rockland County.

In addition to roundtable discussions — informal conversation and social networking also make up the core of this event

“This event is a great opportunity to network and share ideas with people of the same caliber, those of us who have been in the industry for a long time. Since we’re all doing the same volume of business, we’re encountering similar challenges and issues. It’s great to be in a room with people who do what you do every day, said Terry May, Real Estate Broker Associate, who has been an award-winning broker at Better Homes & Gardens for over 34 years. Licensed in both NY and NJ; Terry specializes in the Tri-State area.

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 December 17, 2018 at 3:37 pm
Vincent Abbatecola | Category: Rand Country Blog | Tagged , , , ,