Better Homes and Gardens Rand Realty Welcomes Sharon Burke to its Pearl River, NY and Closter, NJ Offices

Better Homes and Gardens Rand Realty announced that Sharon Burke, a top producer in Rockland County, NY and Northern NJ, has joined its Pearl River and Closter, NJ offices.

Sharon, who has risen to achieve great successes in the last three years since transitioning from her work as a Senior Analyst of Performance Assurance & Compliance at Verizon Wireless, is known for helping both buyers and sellers reach their goals. In her previous position at Verizon Wireless, she identified and addressed risks in the Customer Care, Retail & Enterprise Channels. She has also held executive positions at NYNEX Mobile as Manager of Customer Acquisition Advertising, and at Jordan, McGrath, Case & Taylor Advertising as a Management Supervisor.

Sharon says that taking the time to get to know each client has been the key to her success. “Knowing that each transaction is different and requires its own understanding and approach, is what makes this job so interesting and exciting. I thrive on understanding first and then determining the best way to move forward,” she said.

 “We’re so happy to have Sharon join our team. She brings with her a great deal of knowledge from the corporate world, which has helped to propel her to success in negotiating and securing deals,” said Sharon Tucker, Pearl River Branch Manager.
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 5, 2018 at 10:33 am
Vincent Abbatecola | Category: In the News, Rand Country Blog | Tagged , , , , , , , , , ,

Real Estate Market Report: Third Quarter 2018 – The Bronx

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 or 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 third quarter of 2018, with both 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 the end of the year and into 2019.

Prices were up across the board. The average price rose almost 12% from the third quarter of last year and was relatively balanced: Single‑family homes were up almost 10% on average and 6% at the median; multi‑families were up 11% on average and almost 10% at the median; coops were up 2% on average, but almost 20% at the median; and condos were up over 12% on average and over 3% at the median. Moreover, we’re seeing sustained price appreciation, with the average price rising almost 11% for all property types and up in every market.

But sales were flat overall, and for most property types. For the borough as a whole, sales fell just a tick during the quarter, even while finishing the rolling year up 6%. 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: 5.2% for single‑family homes, 6.0% for multi‑family, 5.3% for coops, and 4.8% for condos. Inventory might be stabilizing, though, something we’ll be watching in the fourth quarter.

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 strong fourth quarter and into 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.

Editor’s Note: This report includes only those sales reported through the Hudson Valley Gateway Multiple Listing Service.

Posted on October 10, 2018 at 12:13 pm
Vincent Abbatecola | Category: Quarter Market Report, Rand Country Blog | Tagged , , , ,

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

Pricing in the Dutchess housing market soared again in the third quarter, with prices rising from high demand and limited inventory. Sales were down, just as in the rest of the region, from a lack of supply, not a lack of demand, which you can see from the pricing trends: Single‑family home prices rose almost 7% on average and 12% at the median for the quarter, finishing the rolling year up 7% on average and almost 10% at the median. And we saw the same results in the condo market, with prices leaping up 13% on average and almost 17% at the median. Those types of numbers are not sustainable, but even for the year, Dutchess condo prices are up meaningfully. Going forward, we expect these trends to continue, with stabilizing sales and rising prices through the end of the year and into 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 October 10, 2018 at 11:28 am
Vincent Abbatecola | Category: Quarter Market Report, Rand Country Blog | Tagged , , , , , ,

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

The Putnam housing market absolutely soared through the third quarter of 2018, with dramatic increases in both sales and particularly in pricing. Putnam was the only county in the region to experience sales growth this quarter, with transactions rising 3% for houses and 5% for condos. The real story was price appreciation, with prices up across the board: Houses were up 11% on average, 5% at the median, and 8% in the price‑per‑square‑foot, and condos were up 13% on average and at the median, and almost 20% in the price‑per‑square-foot. For the year, the pricing gains are also very strong: up 8% on average and 7% at the median for houses, and up 10% on average and 16% at the median for condos. Going forward, we believe that Putnam is going to continue to strengthen, although we would expect that blistering price appreciation to cool a bit.

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 October 10, 2018 at 10:57 am
Vincent Abbatecola | Category: Quarter Market Report, Rand Country Blog | Tagged , , , , , ,

Real Estate Market Report: Third Quarter 2018 – Orange County, NY

The Orange County housing market soared yet again in the third quarter of 2018, with prices exploding upward. With inventory still very low, and demand high, house prices rose 14% on average, 8% at the median, and 12% in the price‑per‑square‑foot, while condo prices were up 17% on average, 12% at the median, and 14% in the price‑per‑square‑foot. More importantly, after years of frustrating stagnation, we’re finally seeing sustained appreciation trends in Orange County. This was the ninth straight quarter of rising house prices, culminating in a rolling year where prices were up 8% on average, 9% at the median, and 8% in the price‑per‑square‑foot. And we saw the same thing in condos, with the full-year prices up 12% on average, 14% at the median, and 10% in the price‑per‑square‑foot. Going forward, we believe that lack of inventory will continue to hold sales down, but will still drive meaningful price appreciation through the end of 2018 and into next 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 TwitterPinterest, and Instagram.

Posted on October 10, 2018 at 10:33 am
Vincent Abbatecola | Category: Quarter Market Report, Rand Country Blog | Tagged , , , , , ,

Real Estate Market Report: Third Quarter 2018 – Rockland County, NY

The Rockland housing market had another strong quarter, with prices up, even while a lack of inventory held back sales growth. Sales of houses were down almost 3% for the quarter, and are now down almost 5% for the year. But that’s more a reflection of a lack of supply, not a lack of demand, evidenced by continuing appreciation, with prices up 6% on average and 7% at the median for the quarter, and now up 6% on average and 7% for the year. We are starting to see signs, though, that rising prices might be tempting more sellers into the market – months of inventory rose almost 11%, the first increase in over six years. Going forward, we expect that buyer demand is strong enough to absorb this additional inventory and still post meaningful price appreciation through the rest of the year and into 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.

Posted on October 10, 2018 at 10:00 am
Vincent Abbatecola | Category: Quarter Market Report, Rand Country Blog | Tagged , , , , , ,

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

The Westchester housing market held steady in the third quarter of 2018, with a small decline in sales coupled with flat pricing. We believe that the decline in sales comes largely from a shortage of viable inventory, rather than a lack of demand, but it may be that the 2018 tax reform changes have hampered demand in the highest end of the market, increasing the percentage of lower‑priced homes in the mix of properties sold and thereby suppressing price appreciation. That would explain why, for example, average prices are increasing dramatically in the lower‑priced condo (up over 5%) and coop (up almost 4%) markets, as well as the more affordable neighboring counties. That said, tax reform is having only a modest impact on this market, with prices still up slightly for the rolling year. Going forward, we believe that demand is strong enough to overcome the tax concerns and that Westchester will experience a strong end to the year and a robust 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.

Posted on October 10, 2018 at 9:28 am
Vincent Abbatecola | Category: Quarter Market Report, Rand Country Blog | Tagged , , , , , ,

Real Estate Market Report: Third Quarter 2018 – Westchester and Hudson Valley

Despite concerns that the 2018 tax reform law would undermine housing values, Westchester and the Hudson Valley held steady in the third quarter, with prices rising throughout the region and up dramatically in some counties.

Some analysts have expressed concerns about the effects of the 2018 Tax Reform law on our regional housing market. The tax law capped the deductibility of state and local taxes and reduced the mortgage interest deduction, which particularly impacts high‑tax areas, like Westchester and the Hudson Valley. Indeed, those analysts might see evidence for this theory in the third-quarter results, with regional single‑family home sales falling almost 2% from last year, and down in almost every individual county.
For the most part, though, sales are down because of a lack of supply, not a lack of demand. Regional inventory levels have gone down 25 straight quarters, falling from a high of around 16 months to the current six months. Quarter after quarter, inventory went down until we reached a point where we have a shortage of desirable homes for sale. That’s what’s holding back sales – a lack of “fuel for the fire.”
How do we know that falling sales aren’t the result of slackening demand from the impact of tax reform? A couple of reasons:

First, this trend of declining sales predates tax reform. We’ve been tracking falling sales for almost two years, with regional sales down, in five out of the last six quarters, well before the passage of tax reform in late 2017.

Second, sales are down in all markets, not just high‑priced markets. Tax reform would not explain why sales are down even in the lower‑priced markets, where most buyers do not itemize taxes in a way that they’d be affected by changes in deductibility. And yet, quarterly sales were down more in Rockland and Dutchess than they were in Westchester.

Third, prices are up in almost every market segment. Regional average sales prices were up almost 3% for houses and 5% for condos in the third quarter and were up (in some cases dramatically) in every individual county for almost every property type. If tax reform had sapped demand in the market, we’d be seeing flat or declining pricing, not robust appreciation.

All that said, tax reform might be having a small impact on the very high end of the market, where the loss of deductibility for mortgage interest and local taxes hits the hardest. Price appreciation was more pronounced in the lower‑priced markets, with single‑family average prices rising 11% in Putnam, 6% in Rockland, 14% in Orange, and 7% in Dutchess. Meanwhile, Westchester’s single‑family home pricing was up just a tick on average, and only fell 1% at the median. We’re talking about a marginal, not a major, impact. Prices aren’t rising at the rate they are in the lower‑priced markets, they’re basically flat, not falling.

Moreover, inventory is starting to respond to these rising prices. For the first time since 2012, inventory levels went up this quarter, which illustrates fundamental economic market theory: If demand is strong, and supply stays steady (or goes down), prices will go up. And when prices go up, new inventory will come onto the market. That’s what we’re seeing now: After years of decline, single‑family inventory was up in almost every county in the region, stabilizing near that six‑month level that usually signals a balancing market.

Going forward, we believe that the appetite in the market can handle both the impact of tax reform and this increased inventory while still driving continued price appreciation. With strong economic conditions, relatively low‑interest rates (and the specter of rate increases on the horizon), and pricing still at attractive 2004‑05 levels, we expect a robust market through the end 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, Pinterest, and Instagram.

Posted on October 9, 2018 at 4:55 pm
Vincent Abbatecola | Category: Quarter Market Report, Rand Country Blog | Tagged , , , , , , , , , ,

Real Estate Market Report: 2nd Quarter 2018 – Bronx (Introduction Overview)

With Better Homes and Gardens Rand Realty’s recent expansion into the Bronx, we are delighted to present the inaugural 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 now 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 second quarter of 2018, with both sales and prices rising sharply in a growing seller’s market. Going forward, we expect these trends to continue through a robust summer and fall selling season.

Sales were up overall, and for most property types. For the borough as a whole, sales rose 4% in the quarter, continuing a yearlong trend that saw transactions go up over 8% for the rolling year. And sales were up for most property types, rising over 3% for single‑family, 5.7% for coops, and a whopping 32% for condos. Although sales fell about 4% for multi‑families, that was after a tremendous run‑up over the last year, where sales spiked almost 16%.

Prices were also up sharply. For all property types, average prices were up about 7% for the quarter, and now up almost 10% for the rolling year. And we saw the same story in each individual property type, with quarterly average prices for single‑families up 7%, multi‑family up almost 14%, coops up 3%, and condos up just a tick.

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: 4.7 for single‑family homes, 5.6 for multi‑family, 4.7 for coops, and 4.5 for condos. Moreover, inventory is still falling, dropping sharply for every property type, which means we still continue to see upward pressure on pricing.

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, and maybe stifle sales simply by reducing the options available to buyers. But in the meantime we can expect that high demand will continue to drive prices up through a sizzling summer and 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, Pinterest, and Instagram.

Posted on July 24, 2018 at 10:59 am
Vincent Abbatecola | Category: Quarter Market Report, Rand Country Blog | Tagged , , , ,

Real Estate Market Report: 2nd Quarter 2018 – Dutchess County, NY

Pricing in the Dutchess housing market spiked in the second quarter, as low levels of inventory, coupled with high demand, drove prices up. Single‑family home prices rose over 10% on average and 8% at the median for the quarter, with both the average and median now up over 6% for the year. The condo market is a little more mixed, but the overall story is that Dutchess demand is still high, inventory is still low, and as a result, we’re seeing significant pressure on pricing. Going forward, we expect these trends to continue, with stabilizing sales and rising prices through a robust summer and the end 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, Pinterest, and Instagram.

Posted on July 24, 2018 at 10:30 am
Vincent Abbatecola | Category: Quarter Market Report, Rand Country Blog | Tagged , , , , , ,