Welcome to The Homepreneur Chronicles, the ultimate destination for all things related to residential real estate, mortgages, and politics in Westchester County NY. Whether you're a first-time homebuyer, an experienced investor, or simply looking to stay on top of the latest trends and news, we've got you covered.
Information on Mortages, Calculators, Current Market Conditions
Feng Shui is an ancient practice that can create a sense of harmony in any living space, whether you're buying, selling or simply residing in your home. When purchasing a new home, people often want to envision themselves living in the space, while sellers want to attract the right buyer. By incorporating Feng Shui principles, you can enhance your real estate intentions by generating positive energy and experiencing optimal results.
Feng Shui involves the art of placement and combines design psychology with Eastern philosophy. Its goal is to achieve balance, harmony and good fortune in daily life, resulting in intentional interior design. This practical approach can help you achieve various goals, such as increasing wealth, improving health, or enhancing your love life.
If you're interested in using Feng Shui for real estate, the Bagua map is an essential tool. This map helps correlate aspects of your life with areas of your home, similar to a house map. By focusing on two areas at a time, you can observe changes in your life or environment over a 30-day cycle of the moon.
To use the Bagua map, overlay it on the footprint of your home and ensure the building or space is contained within it. Stand at the front door while holding the map, and note that the entrance is typically located at the bottom of the map in one of three areas: Knowledge, Career or Helpful People. Some entrances may be situated in non-traditional areas, so consulting a trained expert can be helpful.
The Bagua map has different areas that correspond to various aspects of your life, including Wealth & Prosperity, Fame & Reputation, Love & Relationships, Helpful People & Travel, Career, Knowledge & Self-Cultivation, and the Center. By focusing on these areas, you can improve finances, generate more cash flow, enhance your reputation, enrich your relationships, attract more clients, and center yourself.
Feng Shui principles aren't limited to your home. You can also incorporate them into your landscape or work environment, using various remedies to achieve your desired outcome.
If you have any questions about Real Estate in Westchester County, please reach out to me at (914)755-9816.
As a professional realtor, I am often asked questions by prospective buyers at open houses. One question that came up recently was "Why do I need a pre-approval to put in an offer on a property?" It's a great question and one that I'm happy to answer.
First and foremost, getting all of your paperwork together for a mortgage can take time. Once you've gathered everything you need, it can also take time for the lender to verify your finances. By obtaining a pre-approval, you can streamline the process and ensure that everything is in order before you even start looking at homes.
The second reason to obtain a pre-approval is that it tells the seller that you are serious about finding a place and your offer is serious. When a seller receives an offer from a buyer with a pre-approval in hand, they know that the buyer has taken the time to get their finances in order and is serious about moving forward with the purchase.
Finally, the third reason to get a pre-approval is that if you don't, you will likely lose your chance to purchase your dream home. In today's competitive market, homes can receive multiple offers within hours of being listed. If you don't have a pre-approval, you'll be at a disadvantage compared to other buyers who do.
Obtaining a pre-approval is a crucial step in the home-buying process. It can save you time, increase your chances of having your offer accepted, and ensure that you're only looking at homes that are within your budget. If you have any questions about real estate or the home-buying process, please don't hesitate to contact me. I'm always happy to help!
The Importance of Changing your mindset when you sell your home!
Selling your home in Westchester County can prove to be a challenge. It's easy to feel frustrated when you don't receive the desired response from potential buyers. However, it's imperative to develop a thick skin to weather the sales process successfully.
As a seasoned real estate professional, I understand that it can be challenging to detach from a beloved home and see its flaws objectively. Nevertheless, my role is to assist you in making a smooth transition by presenting your house in its best light to potential buyers.
With my expertise in home selling and marketing, I will guide you through each step of the process, ensuring that your property is irresistible to prospective buyers. Open-mindedness and willingness to receive suggestions are vital to achieving a successful sale.
It's important to acknowledge that your home is a valuable asset, both financially and emotionally. However, it's essential to understand that your property may have only one opportunity to make a lasting impression on potential buyers. With that said, it's essential to embrace the role of a marketer, positioning your property to appeal to prospective buyers' preferences and tastes.
Throughout this journey, I encourage you to consider yourself a house seller, not a home seller, and your potential buyers as homebuyers to eliminate emotional undertones from the sales process. Rest assured, my goal is to make this transition as seamless and stress-free as possible for you.
As a professional real estate agent and realtor, I can help you navigate through the real estate market in New Rochelle or Mamaroneck. My expertise and guidance can make the selling or buying process stress-free and seamless for you.
As your trusted realtor, I understand the value of your property, and I can position it to appeal to potential buyers in these competitive markets. With my knowledge and expertise in real estate, I can help you find the right property or sell your home at the right price.
Whether you're looking to sell your home or find a new one, I am committed to making your real estate journey a success. If you're looking for a realtor in New Rochelle or Mamaroneck, contact #RealtorTom today to schedule a consultation and take the first step in achieving your real estate goals.
Just wanted to share some real estate updates with you. As of today, February 28th, 2023, the current mortgage interest rate for a fixed 30-year mortgage in New York is 6.375%.
If you're looking to buy or sell a home in Westchester county, there are 2,260 homes for sale, down by 22.8% from the previous period.
In case you're wondering about the recent sales, the lowest priced home sold in Westchester County during February was a fixer-upper 3 bedroom, 2 bathroom house in Cortland Manor that was 1,400 sqft and sold for $110,000 on February 2nd. On the other hand, the highest sold home was a magnificent 5 bedroom, 8 bathroom house located in Bedford corners. This stunning house is set on 26 Acres and boasts 10,000 sqft of living space. It sold for a whopping $13,550,000 on February 13th.
If you or anyone you know is looking to buy, sell, or invest in real estate, please don't hesitate to contact me. I'd be more than happy to help you out. Also, remember to follow me on social media for regular updates on the real estate market.
Click this link for a Quick home Estimate on your home or apartment, there is NO OBLIGATION: What is my home worth?
Lead-Based Paint Disclosure is a critical aspect of the buying and selling process that helps ensure transparency and informed decision-making. As a buyer or renter, you should review the information provided in the pamphlet and ask questions if you have any concerns or uncertainties. As a seller or landlord, it is important to comply with the regulations and provide accurate information about the property to potential buyers or renters.
Lead poisoning can have serious health consequences, especially for children, who are more vulnerable to lead exposure due to their developing brains and bodies. Symptoms of lead poisoning may not be immediately apparent but can include developmental delays, learning difficulties, decreased IQ, and behavioral problems. If you suspect that you or someone in your household may have been exposed to lead, it is important to seek medical attention immediately.
In conclusion, the Lead-Based Paint Disclosure Regulation is an essential measure for protecting the health and safety of individuals living in pre-1978 "target housing." It requires owners and landlords to disclose any known information about lead-based paint or lead-based paint hazards and provides potential buyers and renters with important information about lead and lead hazards. By being informed and taking appropriate precautions, we can help protect ourselves and our loved ones from the harmful effects of lead exposure.
The housing market is an important indicator of the overall health of the economy. One crucial metric used by real estate professionals to determine the state of a local housing market is the housing absorption rate. This metric measures the rate at which available housing units are being sold or rented over a specified period of time in a particular market.
In simple terms, the housing absorption rate is the percentage or ratio of the number of homes sold or rented during a specific period of time, typically a month or a quarter, to the total number of available housing units in that market. The formula for calculating the absorption rate is straightforward: (Number of units sold or rented / Total number of available units) x 100.
For example, if there were 500 available housing units at the beginning of the month, and 50 of them were sold or rented by the end of the month, then the absorption rate for that month would be 10% (50 / 500 x 100). This means that 10% of the available housing units were sold or rented during that month.
The housing absorption rate is a crucial indicator of the health of a local housing market. A high absorption rate suggests strong demand for housing, which can lead to rising prices and a shortage of available units. Conversely, a low absorption rate may indicate an oversupply of housing, which can lead to falling prices and a surplus of available units. Understanding the absorption rate can help buyers, sellers, and investors make informed decisions about the housing market.
Local Community Absorption Rates
Let's use some real-world examples to illustrate the importance of the housing absorption rate. Suppose we look at the housing market in Pelham, New York, on February 15, 2023. At that time, there were 11 active homes on the market, and three of them sold during that time period. Therefore, Pelham's absorption rate is 27% ((3/11) x 100). A rate above 20% is generally considered a seller's market, indicating strong demand for housing.
In contrast, New Rochelle's absorption rate during the same period was 46% (19 sold out of 41 active listings). While Mamaroneck's absorption rate was 150% (12 sold out of eight active listings), indicating a very strong seller's market. Rye's absorption rate was also high, at 122% (11 sold out of nine active listings).
It is important to note that the housing absorption rate is just one metric to consider when evaluating a local housing market. Other factors, such as housing inventory, average days on the market, and pricing trends, should also be considered. However, the absorption rate provides a valuable snapshot of the current state of a local housing market, which can be useful for buyers, sellers, and investors alike.
In conclusion, the housing absorption rate is a critical metric that helps determine the health of a local housing market. A high absorption rate suggests strong demand for housing, which can lead to rising prices and a shortage of available units. On the other hand, a low absorption rate may indicate an oversupply of housing, which can lead to falling prices and a surplus of available units. By tracking the absorption rate, real estate professionals and investors can make informed decisions about the local housing market.
If you have any real estate needs with buying or selling please contact me at (914)755-9816
Common Homes styles you can find in Westchester County, NY.
If you are thinking of starting your home search, have you also thought of your favorite style of home? In Westchester County, there are many styles of homes to choose from. Do you know the difference between the styles? Or the philosophies behind the styles and the movement that inspired the styles? Many of the towns in Westchester have areas where a particular style of home dominates the area. An example is in Larchmont Manor you can see a lot of victorian style homes while in the North End New Rochelle, you will see more ranches and raised ranches. Both areas reflect upon the times they were constructed.
Colonial:
American colonial homes have a rich history that dates back to the early 1600s when the first English colonies were established in North America. These homes were typically built using local materials such as timber, stone, and brick and were designed to be functional, comfortable, and reflect the cultural values of the time. During the colonial period, there were several different architectural styles including the First Period, Dutch Colonial, and Georgian, each of which had unique features and characteristics. Over time, the design of colonial homes evolved as new materials and construction techniques became available, and as the country expanded westward and new cultural influences emerged. Today, many American colonial homes still exist and are highly prized for their historical significance, architectural beauty, and connection to our country's rich cultural heritage.
Ranch Style:
Ranch-style homes are a type of architectural design that originated in the United States in the mid-20th century. They are characterized by a single-story layout, a simple and functional design, and a low-pitched roofline. The Ranch style emerged in response to the post-World War II housing boom and growing demand for affordable, low-maintenance homes that were easy to build and accommodate changing lifestyles.
Ranch style homes often feature an open floor plan, with large windows and sliding glass doors to create a seamless connection between indoor and outdoor living spaces. The design was well-suited to the growing automobile culture of the time, with many Ranch homes featuring attached garages and driveways.
The Ranch style became extremely popular in the 1950s and 1960s and is still widely used today, particularly in suburban and rural areas. The design is often appreciated for its simplicity, functionality, and adaptability, making it a popular choice for families, retirees, and first-time homebuyers.
Raised Ranch Style:
A Raised Ranch style home is a type of architecture that is a variation of the Ranch style home. A Raised Ranch is similar to a Ranch in terms of its layout and features, but it has a split-level design, with a portion of the home being elevated above the main living area.
Typically, the elevated portion of the home houses the bedrooms, while the main living area is located on the ground level. This allows for a split-level design that maximizes usable space and provides additional privacy for the bedrooms.
The Raised Ranch style became popular in the 1970s and 1980s as a way to add more living space to homes without increasing the footprint. The design was well-suited to suburban and rural areas, where larger lots were available, and provided a more versatile floor plan than the traditional Ranch style.
Like the Ranch style, Raised Ranches are often appreciated for their simplicity, functionality, and adaptability, and are still popular in many areas today.
Victorian Style Home:
Victorian-style homes are architectural designs that were popular during the Victorian era (1837-1901) in the United Kingdom and later in the United States. Victorian homes are known for their elaborate and ornate design, which is a reflection of the opulence and grandeur of the Victorian era.
These homes typically feature a symmetrical façade with a central front door, decorated gables, towers and turrets, and a mix of textures and materials such as wood, stone, and brick. Victorian homes often have large, intricate windows, with stained glass and decorative trim, and a variety of rooflines, including steeply pitched gables and towers.
Inside, Victorian homes are characterized by spacious rooms with high ceilings, elaborate moldings and trim, and intricate details such as carved fireplaces and built-in cabinetry. Color was an important element of Victorian design, with rooms often painted in rich, bold hues, and decorated with wallpaper featuring ornate patterns and designs.
The Victorian style was particularly popular in the United States in the late 19th and early 20th centuries and is still highly prized today for its architectural beauty, historical significance, and connection to a rich cultural heritage.
Modern Home Style:
Modern architecture is a style of building design that emerged in the early 20th century and is characterized by a focus on functionality, simplicity, and the use of new materials and technologies. Modern homes are often characterized by clean lines, a lack of ornamentation, and an emphasis on functionality and efficiency.
Some common features of modern homes include large windows and open floor plans, which blur the lines between indoor and outdoor living spaces, and a minimalistic aesthetic that prioritizes clean lines, neutral colors, and natural materials. Modern homes are often built with new construction materials and techniques, such as steel, concrete, and glass, which allow for the creation of larger, open spaces with minimal structural support.
Another important aspect of modern architecture is its relationship to the environment. Many modern homes are designed to be environmentally sustainable, with features such as passive solar heating and cooling, and the use of sustainable materials and technologies.
Modern architecture continues to evolve and is still widely used today, with many variations and sub-styles emerging over time, such as International Style, Brutalism, and Deconstructivism. The style remains popular due to its simplicity, functionality, and adaptability, and is often appreciated for its connection to the technological and cultural innovations of the 20th century.
Cape Cod Style:
The Cape Cod style house is a type of architectural design that originated in the late 17th century in New England, specifically the Cape Cod region of Massachusetts. These homes were designed to be simple and functional, with a focus on practicality and energy efficiency in a challenging coastal environment.
Cape Cod homes are typically small, one-and-a-half-story structures with steep rooflines, central chimneys, and dormer windows. The homes are made of wood and feature clapboard siding, which helps to protect the interior from harsh coastal weather. Other traditional features include symmetrical façades, central front doors, and simple, functional interiors with small rooms and low ceilings.
The Cape Cod style became popular in the United States in the early 20th century and was widely used in suburban developments during the post-World War II housing boom. The design remains popular today due to its simplicity, functionality, and connection to New England's rich cultural heritage. Many Cape Cod homes have been modernized and updated over the years, but the basic design and layout of the homes remain largely unchanged, making them a popular choice for families, retirees, and first-time homebuyers.
Arts & Crafts Style:
The Arts and Crafts movement was a cultural and design movement that emerged in Britain in the late 19th and early 20th centuries. The Arts and Crafts movement was a reaction against the mass production and industrialization of goods, and instead emphasized the importance of traditional craftsmanship and the creation of objects that were both beautiful and functional.
Arts and Crafts style homes are architectural designs that reflect the principles and values of the Arts and Crafts movement. These homes are typically characterized by a focus on simplicity, functionality, and the use of natural materials. They often feature handcrafted details such as wood paneling, stained glass windows, and decorative tile work.
Arts and Crafts homes also tend to be spacious and well-lit, with large windows and an emphasis on indoor-outdoor living. The interiors of Arts and Crafts homes often feature exposed beams, fireplaces, and built-in cabinetry, as well as an emphasis on the use of natural materials such as wood, stone, and textiles.
The Arts and Crafts movement had a significant impact on the design and architecture of homes in the late 19th and early 20th centuries, and many Arts and Crafts style homes can still be found today, particularly in suburban and rural areas. The style remains popular due to its emphasis on simplicity, functionality, and the use of natural materials, and is often appreciated for its connection to the cultural and social values of the Arts and Crafts movement.
Westchester has many many beautiful styles of homes, I can help you discover your favorite style. If you are in the market for a new home, let me know.
