Office or Apartment in the Heart of Bronxville

Frank Morris Real Estate has recently acquired a most unique listing in the Heart of the Village of Bronxville. This former office space located at 17 Kraft Avenue can be purchased for an owner occupant and be utilized as an office space or converted into a junior four oversized one bedroom, or the second room can be utilized as a spare bedroom! What would make this unit a one of a kind if converted into an apartment is the private entrance off Kraft Avenue. Pictured above, the owner can enter after the short walk from the Metro North or from local shopping in the area. This poses a great opportunity for someone to case their vision on this space and convert it into their home!

Here are the specs:

Asking Price: $349,000

Square footage: 900 sq ft. Approximately

Complex: Midland Gardens

Monthly Maintenance: $1,207 (Includes all utilities Electric, Gas, Heat, Hot Water)

The apartment is compose currently of four rooms currently utilized as the following, two oversized offices, one room for filing cabinets and storage, a formal dining area, and a reception area. This apartment has the potential to be one of the oversized one bedrooms at Midland Gardens and truly be one of a kind here at the complex.

Perfect for empty nesters or the commuter, the complex is walking distance to the Bronxville Metro North, Starbucks, The Bow-Tie Bronxville Theatre, Grocery shopping, and all of Bronxville’s shopping on Pondfield Road. Midland Gardens is a pre-war building that offers an on-site office, plenty of unassigned parking, and beautiful well maintained grounds. There are some great new additions to the Village such as the Bronxville Diner and Soul Cycle, just steps away from the Complex. This opportunity wont last for long, reach out to Frank Morris to schedule an appointment today!

 

Frank Morris

Licensed Real Estate Salesperson

71 Pondfield Road

Bronxville NY 10708

O: 914-337-1312

C: 914-500-9194

The Final Walkthrough

After you have negotiated on pricing, terms, closing date, conducted an inspection, signed contracts, secured your financing, and cleared title (woah that’s a lot!) comes the final walkthrough. The purpose of the final walkthrough just before you officially close on the property is to check to make sure their are no new issues that have popped up since you conducted an inspection and to check that any repairs were done that you negotiated for.

Typically the final walkthrough will be conducted either the day of the closing or the day before. It’s important that you thoroughly inspect the property because once you sign that paperwork with your attorney any repairs that need to be made are yours to deal with. You also want to make sure that any of the items that were to left behind such as the Refrigerator, Dishwasher, Washing Machine or Dryer are there and are in tact and are in good working condition. On the other hand, you also want to make sure that anything that you do not want in the home was not left there for you to deal with such as any furniture or personal belongings the seller thought that they could just leave for you to handle!

 

You’ll want to go through the entire home (similar to your inspection) and check on all the appliances, the plumbing, the windows, doors, and inspect the exterior and below-grade level for any potential mishaps. Don’t forget to check all the utilities, whether its steam heat or a hydro air system.

Remember to inspect the exterior of the property which may reveal any issues with the siding, roof, or any external systems such as the air condenser for the central air system or the irrigation system in the lawn.

After this is all said and done, you can go and buy your new home with some peace of mind!

If you are thinking about buying or selling real estate in lower Westchester County, give us a call today!

 

Frank Morris

Licensed Real Estate Salesperson

71 Pondfield Road

Bronxville NY 10708

O: 914-337-1312 Ext 330

C: 914-500-9194

Westchester’s Top 3 Housing Styles

 

 

While working with plenty of buyers and sellers in the Westchester County area, we have compiled a list of what we believe is Westchester County residents top three favorite housing styles and their descriptions. Curb appeal is huge when you are selling your home, and in our opinion these three styles are some of our buyers favorite homes!

3. Cape Cods

 

 

 

cape cod-2

 

Typically consisting of one and half stories, Cape Cods have dormered ceilings on the second level and were adopted from Britain’s single family housing style that were ultimately built to create mid priced homes. They stand out due to their prominent dormered second level and windows on the second story. Typically they are not oversized, so generally they fall into an affordable and cute style for many first time home buyers.

 

2. Tudors

Tudor

 

Another adoption of an English style home which is known for prominent gabled roofs that have a sharp pitch and the interiors are known for timber support beams. The exterior is a mixture of this timber and classical brick. These homes in England were considered ones of prominence and are known to be able to withstand several different climates, which is why they are really popular along the east coast. Many neighborhoods within Westchester can be seen flooded with Tudors, especially Crestwood section of Yonkers or Fleetwood Mount Vernon.

  1. Colonials

 

351marbledalerd-2

 

Westchester Counties favorite style home is no doubt the center hall colonial. The original American style home which began being built as early as the 1600’s by our first settlers in America. Colonial homes are known for their perfect symmetry, with evenly spaced out windows, a center hall staircase leading to the upper level, and perfectly rectangular dimensions of the floor plan and exterior walls.

 

Feel free to comment below on your favorite home style!

 

As always, if you are thinking about buying or selling Real Estate in Westchester County, give us a call today!

 

Frank Morris

Licensed Real Estate Salesperson

71 Pondfield Road

Bronxville NY 10708

O: 914-337-1312

C: 914-500-9194

 

Pet Friendly Housing, The Buyers Dilemma

Do you have any pets?

The one question that Real Estate asks and most in the industry fear the answer for any buyer who is looking for a co-op, condo, or rental apartment.

But Why?

Although the pet policies in the State of New York have changed dramatically since the mid 20th century, when in almost all cases no pets were allowed in rental buildings, it is still very difficult for pet owners to find rental apartment or to purchase co-op’s and condo’s in New York City along with surrounding suburbs like Westchester.

Nonetheless, many buildings in recent years have amended their pet policies to allow pets restricted by weight or breed. Many buildings have also begun to recognize the therapeutic value of having a pet and have allowed homeowners and/or renters to bring pets into the building as emotional support animals.

Even with all these changes, it is not easy for those who are searching in the New York City or Westchester County area to find housing if they are pet owners. Lets just put it this way, their are currently about 800 co-op apartments for sale in the entire county of Westchester, 100 of which accept pets! Therefore their about 100 co-ops on the market that will accept a pet currently, that makes it very tough to be a buyer in our current market!

Cats are wee bit easier to get into buildings, as most people keep their cats indoors so many buildings are not troubled by Cats, dogs are unfortunately a greater hurdle, and this is where in fact many co-op and condo’s have house rules restricting the weight of these animals and in many cases restrict against non aggressive breeds such as pit bulls, Rottweiler’s, and Dobermans.

Difficult but not impossible, and many buildings as stated earlier are changing their policies to conform with owners that have emotional support animals and are modernizing their policies. Do not be too discouraged, their is hope and there is plenty of great buildings that allow pets, you just have to be diligent and ready to jump on them when they reach the market.

Frank Morris

Licensed Real Estate Salesperson

71 Pondfield Road

Bronxville NY 10708

 

 

Town Of Eastchester Market Data

The first quarter of 2017 has ended and the market statistics are in!

 

Here is the most recent single family data in the Town of Eastchester specified by village and their respective School Districts (Eastchester, Tuckahoe, and Bronxville). For comparison we will be looking at March 2016 numbers in each of the School Districts. All of the data will be followed by a summary of what each School District is reflecting and what the trends tell us.

Eastchester School District:

MARCH 2016 AVERAGE SALES PRICE: 722,500

 

MARCH 2017 AVERAGE SALES PRICE: 807,783

INCREASE OF 11.8%

 

HOMES FOR SALE MARCH 2016: 32

HOMES FOR SALES MARCH 2017: 32

 

PRICE PER SQUARE FOOT 2016: $367

PRICE PER SQUARE FOOT 2017: $404

REFLECTS A 10.1% INCREASE

 

DAYS ON MARKET 2016: 75

DAYS ON MARKET 2017: 85

 

MONTHS SUPPLY 2016: 3.1

MONTHS SUPPLY 2017: 3.5

LP/SP 2016: 98.4%

LP/SP 2017: 97%

 

The Eastchester School District is the best performer of the three School districts when we compare it to last year. We see about an 12% increase in the average sales price in the market, while the exact same amount of inventory for sale is on the market. We also see an increase in the price per square foot up about 10% since last year. A slight increase in the supply of inventory from 3.5% (This means that at the current rate of sale, all inventory will be sold in about 3.5 months). The average list price to sales price has decreased to about 97%, meaning sellers are getting on average about 97% of what they are asking for. We can attribute this to the sellers and brokers tendency to price aggressively while the prices are trending upward and supply is low. The amount of inventory has increased slightly but we still see a lack of inventory for sale and a lot of activity in the average price range (about 800k) for Single Family in the Eastchester School District.

 

 

 

TUCKAHOE SCHOOL DISTRICT

MARCH 2016 AVERAGE SALES PRICE: 1,115,369

 

MARCH 2017 AVERAGE SALES PRICE: 773,156

DECREASE OF 30.7%

 

HOMES FOR SALE MARCH 2016: 21

HOMES FOR SALES MARCH 2017: 18

 

PRICE PER SQUARE FOOT 2016: $366

PRICE PER SQUARE FOOT 2017: $314 REFLECTS ABOUT A 14.2% DECREASE

 

DAYS ON MARKET 2016: 82

DAYS ON MARKET 2017: 97

 

MONTHS SUPPLY 2016: 5.3

MONTHS SUPPLY 2017: 5.2

LP/SP 2016: 93.1%

LP/SP 2017: 95.1%

The Tuckahoe School District shows some interesting data when compared to March of last year. It must be taken into consideration that the Tuckahoe School District encompasses a small amount of homes and can be influenced greatly by sales in their luxury markets, such as Bronxville Manor situated alongside of the Siwanoy Country Club. This is why we notice such a drastic decrease in the average sales price from about 1.1 million to 773,156. We notice a slight drop in the inventory for sale there. Along with a slight drop in the price per square foot. The days on market has increased, again most likely due to aggressive pricing due to the market trending upwards. The list price to sales price average has increased to sellers getting about 95% of what they are asking, most likely due to minimal luxury sales this year which is also reflected in the average sales price.

 

BRONXVILLE SCHOOL DISTRICT

 

MARCH 2016 AVERAGE SALES PRICE: 2,007,222

 

MARCH 2017 AVERAGE SALES PRICE: 1,541,488-

 REFLECTS A 23.2% DECREASE

HOMES FOR SALE MARCH 2016: 36

 

HOMES FOR SALES MARCH 2017: 47

 

 

PRICE PER SQUARE FOOT 2016: $367

PRICE PER SQUARE FOOT 2017: $404

REFLECTS A 10.1% INCREASE

 

DAYS ON MARKET 2016: 122

DAYS ON MARKET 2017: 82

DECREASE 29.5%

 

MONTHS SUPPLY 2016: 6.8

MONTHS SUPPLY 2017: 10.2

INCREASE 50%

LP/SP 2016: 93.5%

LP/SP 2017: 96.8%

 

Bronxville School District is the slowest performer of the three school districts, which is not a surprise as we have seen a lag in recent years in the luxury sector. We have seen a 23% drop in the average sales price, not surprising as the very high end homes at the top of the market have had little movement. We have also seen an increase in the amount of inventory on the market, making Bronxville generally a buyers market with 10.2 months supply of inventory on the market, with the exception of the homes in the market place that are priced around 2 million and below. Sellers on average are obtaining more than they were this time last year at 96.8% of the listing price, this we can attribute to brokers and sellers gaining a good education of where they need to be on pricing to actually sell their home over the last couple of years.

Building Smart Homes

Manufacturers, along with the help of builders and brand new homeowners, have developed several innovative products to design what is referred to as “smart homes”. You can now connect virtually every appliance in your home to a smartphone or tablet.

One of the very first innovations was smart thermostats, in which users could connect their thermostats to their networks and control the heating and air conditioning using their mobile device or smart device. Apple lead the way for many of these devices, starting with the nest smart home thermostat system. Honeywell has also designed comparable products. Now, homeowners can connect virtually anything that is powered by electricity to their network from their lighting system, their refrigerators, and all the way to their home theatre’s.

All electronics are coded for different functions, down to turning off the light in your closet, these functions are becoming a network of operations that can be controlled through smart devices and the use of radio waves. These radio waves can signal functions to each and every device that is connected to the network.

 

Some of the products that consumers are equipping their homes with are cameras throughout the entire house and around the perimeter. Smart security systems that connect to all windows and doors, and can notify homeowners as to whether or not their doors were left ajar or windows are open. These smart systems can also connect to your lighting system, which can be great in saving money on the electrical bill. They can connect to your coffee maker, and can notify you of a fire alarm. Your smart home can even connect with the plumbing within your home to keep you from leaving faucets open.

 

This may be the new horizon of a different style of home, the smart home. For people who are not particularly tech-savvy, a smart home is perhaps not the best choice. Though as people become more accustomed to smart phones and tablets, the integration into smart home technology can seemingly be huge in the years to come.

 

Frank Morris

Licensed Real Estate Salesperson

71 Pondfield Road

Bronxville NY 10708

Eastchester Homes Featured On Property Brothers

Several Eastchester Homes were featured on HGTV’s Property Brothers. Jonathan and Drew Scott have teamed up with local contractors such as Arthur Lange Inc. and gotten involved in some major renovations projects in the area. One of these homes was located at 87 Tuckahoe Avenue for nearly 1.2 Million Dollars!

The extent to the work performed varies from project to project, while some may be closer to complete gut renovations on the home, others were already updated and the Jonathan and Drew Scott came in and made some modern updates and modifications to the home.

Shows like Property Brothers and Love it or List it are educating buyers on home design and definitely have influence purchasers of new homes in their buying decisions. According to the National Association of Realtors. 49% of buyers are influenced in their decision based upon how well the home is prepped and or staged for sale! that’s half of the potential buyers that may be interested in your home.

Millennial’s, which make up about one third of the home purchasers that are on the market now, are especially demanding of move-in ready homes. We are seeing this reflected in the strong market demand for updated and renovated homes. When newly updated and renovated homes come on the market in Lower Westchester County, they just seem to fly off the table, with average days on market in most municipalities around 30 days or less! This is a strong reflection of pure supply and demand in the marketplace, and many homeowners are putting their property on the market due to constant whisperings of interest rates going up. Once interest rates do go up, as they certainly will at some point, some of these qualified buyers will be knocked out of the market and many experts say this will start to balance out the market, which is considerably favorable towards sellers in our current market conditions.

 

Frank Morris

Licensed Real Estate Salesperson

71 Pondfield Road

Bronxville NY 10708

Choose the right Real Estate Agent

Choosing the right Real Estate Agent matters, you are going to ask for representation in the sale of one of your largest assets and get tied up into a contract that is worth thousands of dollars, don’t you think its a good idea to get a second opinion before you ask your neighbor who has held their license for 20 years and sold a few homes?

Firstly, our personal marketing plan and negotiation techniques have yielded sellers on average 2.9% more on the sale of their home. The average agent sells a home for 96.4% of the list price, while we have yielded our sellers 99.3% of list price, on average.

Here is a scary statistic, 72% of sellers interview only one agent to sell their home.  There are many great agents out there, but this is scary because the industry standard for professionalism, customer service, and proper representation is low, the many people that have had poor experiences with Realtors can confirm this. Most people are going with the first agent they meet.

 

Here are a couple of thinks that I believe are definitive in choosing the right Real Estate Agent to represent you whether you are buying or selling your home.

 

  • Firstly, you want someone that you can trust, ultimately, you want to be sure that this person is going to genuinely work in your best interest when handling the sale of your home. You want someone who brings principled living into their work and will not only tell you the truth, but present you with all the facts and data you need to make a decision.
  • make sure that your agent is full time, if you want someone who is truly going to market your home properly, and has enough contacts in their rolodex to bring you a buyer, and knows all the moving parts to a Real Estate transaction to avoid pitfalls, your agent must be a full time agent. Sadly, there are many part time agents out there that give sellers and buyers very poor representation, and this could end very badly for a seller or buyer given all the moving parts of Real Estate transaction. From the very beginning, getting your home prepped, pre-sale inspections, checking the file with the building department for any issues, the photography, all the way through qualifying buyers, negotiation, and contracts to closing! On the buying side, Realtors often hear horror stories of buyers approaching for sale buy owners, thinking that they are going to get a great deal with an agent out of the equation, only to learn there is some issue with the Certificate of Occupancy, or the home will not appraise at the asking value, this is why you need representation. Choose a full time professional!
  • Experience, has the realtor ever sold in your area, or sold homes comparable to yours? This is important because there are different elements to each specific property type, varying from co-op to single family all the way to commercial transactions. Feedback from past clients or referrals from people within your network can prove to be powerful, although we definitely suggest you get a second opinion and interview at least two realtors.
  • Ask the agent questions regarding recent sales and their knowledge of the local neighborhood, make sure you feel confident that they know the area and are selling regularly. This is especially important as you ask them to guide you on pricing, because neighborhoods can be extremely hyperlocal as you know, you may have one block and lot of properties that historically yield higher or lower values due to a circumstance that is not obvious to the realtor that is not familiar with your neighborhood. Overpricing or underpricing can affect your net value, so make sure you get an agent who is well educated on the area.

Eastchester St. Patricks Day Parade

 

Eastchesters 13th Annual Saint Patricks Day parade took place yesterday at 3 p.m!

Here are some pictures from the event!

20170312_16094320170312_160456parade3

 

Frank Morris

Licensed Real Estate Salesperson

71 Pondfield Road

Bronxville NY 10708

914-500-9194

 

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