Strong Buyer’s market

December 2008 - Market Update Report

12.11.08 - Here is the most recent market update

OCAR Housing Market Snapshot

Report compiled utilizing statistics from the Greater Hudson Valley Multiple Listing Service (MLS)

The Directory to the right shows archived reports.

Pricing & Perception is everything!

Sellers: Asking Prices! Pricing is always important in any market, but in this difficult climate, the most important rule is to price your property accurately. This can often be a challenge because what happens locally may not compare what is being presented within the national media. Careful consideration must be given to market trends, late statistics on recent sales (within 60-90 days), available credit and the local employment picture.

Agents: It is absolutely essential, and I believe our duty, to accurately price properties for sale from the get-go. With the bulging inventory there is no time to lose. Care must be taken to properly analyze all data. A thorough market analysis should take hours, not minutes. The agent must know all competing properties and assure the seller that theirs is the competition, not the other way around. Market updates should be done on a WEEKLY, not monthly basis. Lately, I look virtually every day, and at the very least every 3 days to be certain my listing is properly positioned. If it is not, we will lose. Read the rest of this entry »

December 3, 2008 - still unsold (Yes I’m vindicated)

(Tow of my listings, similar to this one, which were properly priced sold within 30 days)

December 3, 2008 - still unsold
November 3, 2008 - still unsold
October 3, 2008 - still unsold
September 3, 2008 - still unsold
August 2, 2008 -still unsold
July 2, 2008 - still unsold
June 20, 2008 - still unsold

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Below is a update of my recent article on the importance of properly pricing your Rockland County NY property for sale. At this writing (8.2.08) the sellers have now reduced their property by $90,000 and the property is STILL sitting there, and we are now in August, one of the slowest market times of the year, plus after that fast approaching the fall market leading up to the winter months (another slower time). The agent who listed that property so high did a grave disservice to the seller. This is one of my biggest pet peeves about our industry. Agents who knowingly take an overpriced listing just to have inventory. It’s so wrong.

I’m not saying I wouldn’t take a listing and test market it for a couple of weeks at a particular price point, but my job is to DAILY monitor the market to see how my client’s properly is positioned and advise them accordingly. If we don’t see 2-3 showings each week for the 1st 2 weeks, and certainly if no offers are on the table, the price is usually the culprit. Read the rest of this entry »

This is an update to an article I posted back in April … . . . although our local market is faring better than many throughout the Country.  We were all hoping that we had seen the bottom in April, but, unfortunately, values have dropped since April of 2008.

ROCKLAND REAL ESTATE MARKET REPORT

APRIL 2008

Heres my current view of what the markets are doing.These numbers are for listings and sales ALL OVER Rockland County, not just one specific town, but in my opinion they give a very good picture of what our local real estate market is doing.

So here they are folks, hot off the press. The March numbers. Ive been anxiously
awaiting this data. I checked every single day this month for the March figures.
It takes about 3 weeks for the information to filter down from our local multiple listing
service (MLS).

and, drumroll please ¦ here they are.

The good news is that almost across the board, weve seen improvement. The bad news
of course is that we really dont need any more inventory, but after all, it is only April.
Keep in mind too, that although we saw more properties close in January, those were
sales most likely made back in the fall.

Therefore, in my view, this is a very positive sign!

Figures compiled from The Greater Hudson Valley Multiple Listing Service
March Monthly Comparision Report.

So Let a smile be your umbrella, the suns beginning to shine !

Would anyone care to comment ?
Id love to know what yall think !

November 4, 2008 - Market Update

Click on the Image to the left for the full view of the most recent market activity in Rockland County.

Savvy Buyers Beware ! Yes, it’s a buyer’s market, and there is no doubt about that, BUT highly desirable properties can still sell virtually overnight or in as little as 30-90 days. Due to its close proximity to Manhattan and other points South, Rockland County remains a sought after investment by many savvy purchasers.I’ve been hearing recently of buyers who take months and months to decide on their purchase. They’ll see 50-60 houses. This all takes a lot of time. During that time, one of the properties they’ve seen and liked may not be there when they finally feel they’ve “seen enough” and come back to it.

The chart below bears this out. I did a search for properties listed in Pearl River since January 1st of 2008. I did not search by List Price. My ONLY CRITERIA was to search by DOM which means Days on Market. Here are the results below sorted by the DOM ascending.

If you want to be sure you’re not missing anything … let your fingers do the walking. Begin AND CONTINUE your search online. Most every property today has many pictures and a comprehensive description, so you can get a fairly good and realistic idea of what’s out there. Pay close attention to price, condition, and location. If they all seem to be on a scale of 8-10 (with 10 being the best), that property will most likely move fairly quickly. Read the rest of this entry »

Market Reports from the 2nd Quarter of 2008

The Latest Figures for
Nanuet Condos are gathered below:
Read the rest of this entry »

Please see the article posted on Nov. 28th for the update on this situation:

I stand my ground. I can not tolerate lying realtors. They hurt the industry, the sellers and ultimately themselves when they lose the listings after months of work with no compensation.

___________

Original post below:

December 3, 2008 - Still unsold
November 3, 2008 - Still unsold
October 3, 2008 - Still unsold
September 3, 2008 - The listing is still unsold
August 2, 2008 -still unsold
July 2, 2008 - still unsold
June 20, 2008 - still unsold

___________________________________________________

Below is a update of my recent article on the importance of properly pricing your Rockland County NY property for sale. At this writing (8.2.08) the sellers have now reduced their property by $90,000 and the property is STILL sitting there, and we are now in August, one of the slowest market times of the year, plus after that fast approaching the fall market leading up to the winter months (another slower time). The agent who listed that property so high did a grave disservice to the seller. This is one of my biggest pet peeves about our industry. Agents who knowingly take an overpriced listing just to have inventory. It’s so wrong. Read the rest of this entry »