Author: barthorowitz

Pending Home Sales On Staten Island Rose Slightly During Final Quarter of 2011, Latest Statistics Show

STATEN ISLAND, N.Y. — ‘Pending Home Sales’ on Staten Island showed signs of recovery as 2011 came to a close. According to the latest figures released by the Staten Island Board of Realtors (SIBOR), the Island’s “Pending Home Sales,” or homes “under contract,” were up 3.2 percent for the combined months of October, November and December 2011, when compared to the same period in 2010.  A comparison between each of the entire two years reveals an overall drop of 4.7 percent in 2011. “The pending sales indicated an upward trend at the end of the year,” said Georgianna Diaz, president of SIBOR. “A similar situation exists for “Closed Sales,” which were up 8.7 percent for the same three months, but down 6.2 percent for the year.” Home prices showed a modest drop of 2.6 percent for the year, as compared to 2010.  At the close of 2011, “Days on Market,” the average number of days it takes to sell a listed home, reached 180. “Sellers need to take this into consideration when deciding how to market their properties,” said Sandy Krueger, CEO of SIBOR. “All things are relative. Homes in better condition, that are priced to sell, will naturally move more quickly on the market, and well under the 180-day average.” Properties going under contract showed a modest rise for the final three months of 2011, and overall market...

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The Truth About Staten Island: New Plan Will Discount Tolls For Daily Commuters Between Staten Island And New Jersey

NEW YORK (CBSNewYork) – There’s good news for thousands of commuters this morning. Those who drive between Staten Island and New Jersey will have their tolls cut in half. A new Port Authority plan will slash tolls by as much as 50 percent on the Goethals and Bayonne Bridges and the Outerbridge Crossing. Starting February 1, E-ZPass users with non-commercial plates who enroll in the program will pay $47.50 for ten round trips – or just $4.75 per trip. READ MORE … About the Staten Island Board of REALTORS® (SIBOR) The Staten Island Board of REALTORS® (SIBOR) is the largest not-for-profit trade association in Staten Island, N.Y. SIBOR exists to enhance the ability and opportunity of its members to conduct their business successfully and ethically; and to promote the preservation of the public’s right to own, transfer and use real property. Comprised of over 1,800 members, SIBOR serves real estate agents, brokers and affiliated professionals throughout the borough and surrounding areas. SIBOR is the provider of the Staten Island Multiple Listing Service (SIMLS), which works as a clearinghouse through which more than 250 local real estate firms exchange information on properties they have listed for sale. Together, its members participate in over 3,000 real estate transactions every year. All SIBOR members belong to the New York State Association of REALTORS® (NYSAR) and the National Association of REALTORS® (NAR). SIBOR...

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50th President of Staten Island Board of Realtors Is Sworn In During Annual Event

 STATEN ISLAND, N.Y. –  Assemblywoman Nicole Malliotakis and Rep. Michael Grimm stopped by The Vanderbilt at South Beach last night to congratulate the leaders of Staten Island’s real estate community. Georgianna Diaz of Village Realty SINY took the helm of the Staten Island Board of Realtors (SIBOR) as its president and was among the officers and directors honored during the organization’s annual installation dinner. Others who assumed posts as SIBOR officials are Traci A. Cangiano, president-elect; Laird Klein, secretary/treasurer, and Kathleen O’Leary Garbarino, immediate past president. Rounding out the board are Joan Camerlengo; Claire Bisignano Chesnoff; Ann Coppola; Laura Dinten; Doreen S. Frazer, past president; Linda Garber; Dill Gillani; Wayne Goldstein; Ron Molcho; Neila Nuzzi; Irene Paoli; Fran Reali, and Greg Sokol. Each year, one member of the board is a non-Realtor; this seat is being held in 2012 by Philip A. Guarnieri, president & CEO of Empire State Bank. The 2012 officers and directors of the Staten Island Multiple Listing Service Inc. (SIMLS), a wholly owned SIBOR subsidiary, were inducted during the evening, as well. Staten Island Multiple Listing Service The following individuals joined the board of the Staten Island Multiple Listing Service (SIMLS) as directors in 2012: Donna A. Iadarola, John Vernazza, Wayne Goldstein, Mimi Neuhaus, Frank Reali, Daniel G. Hall and 2012 SIBOR President-Elect Traci A. Cangiano. Three returning SIMLS elected directors are Sari Kingsley, secretary/treasurer; Diane Birrell,...

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Home Prices: Where Are They Headed This Year?

There is no shortage of opinions as to where home prices are headed in 2012. From Clear Capital’s expectation that prices will show a ‘slight uptick’ this year to Fitch’s projection that prices ‘will fall another 13 percent’, there seems to be no consensus as to where real estate values are headed. How can there be such a disparity of opinion among industry experts? Prices are determined by the relationship between supply and demand and there are many unanswered questions regarding both of these components. Questions about Demand Will this be the year that the 5.9 million adults between the ages of 25 and 34 that are still living with their parents decide to purchase a home of their own? With mortgage payments lower than rent payments in the majority of the country, will first time buyers finally decide it makes more financial sense to buy rather than rent? Will the baby boomers take advantage of the great deals available and start purchasing vacation and retirement homes? Will investors continue to purchase large quantities of distressed properties? Will hedge funds negotiate a deal with the banks for bulk purchases of foreclosures? Questions about Supply  Will 2012 be the year that builders again increase inventories of newly constructed homes? Will baby boomers put their primary residences up for sale and relocate to their retirement destinations? Will 2012 be the year that...

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A Really Powerful Real Estate Question

By Steve Harney on January 16, 2012 Steve Harney, founder of  Keeping Current Matters, occasionally asks to do a personal post on what he sees as important  to our industry. Today is one of those days. Enjoy! – The KCM Crew My wife and I have vacationed on the beautiful island of Aruba for the last nine years. We are strongly considering buying a winter residence on the island so we can enjoy it more often as we get older. On a trip there last week, we decided to see what our options might be. We asked a person at the Marriott (where we stay) to suggest a local real estate agent that could help us navigate the possibilities. Luckily, she recommended us to a sensational young woman named Milouska ‘Miko’ Briezen. What made Miko so special? She made me realize what true customer service is all about. When we called her, she didn’t immediately talk about the ‘unbelievable home’ she was going to show us or the fabulous ‘steal’ that was available in one of the condo developments. Instead, she asked to meet us over a cup of coffee so she could get to know us. I wasn’t necessarily into sitting down and trading pleasantries. I wanted to see what was available. My wife convinced me we should respect Miko’s request, so we did. Almost immediately upon meeting us, Miko...

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