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In 2012, I Will Sell a Home for US Veteran Facing Hardship Pro Bono - 12/31/11 10:09 PM
This past Memorial Day I wrote a post entitled Memorial Day 2011: Giving Back To a Veteran in Need. In it, I announced that my company would sell a home for a US service veteran facing hardship for zero commission. My father was a veteran of World War II and Korea, and I asked for the community to let me now if anyone knew of a veteran who could benefit from this. I have not yet, so, being loud mouth I am, I have decided to raise my voice.
As I stated this past May:
There is one thing I am … (61 comments)
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State of J. Philip Real Estate, 2011 Edition - 12/31/11 08:49 AM
Another year has come and gone, and the real estate industry continues to plug along under the malaise of the housing downturn that has yet to hear the word "recovery" since the 2007 Sub Prime domino was the first to fall. Our firm was only 2 at that time, and we are still standing. Actually, we're doing a bit better than standing. Here's how we did in 2011:
Out of 872 MLS member firms, our company was ranked 55th in closed sales. This puts us in the top 6% of brokerages in our Multiple Listing System, which is run by the … (28 comments)
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Have You Noticed That Buyers Are More Nervous These Days? - 12/31/11 07:22 AM
I seldom reblog, but Doug's post speaks to the nationwide crisis of confidence that the american consumer is experiencing. Doug is in Alexandria, Louisiana, about as different fom Westchester County as you'll find. I lived in Louisiana in 1993-94 and it was a different world from New York, and indeed, much of the south as well. But that's the point- all real estate is local, and what is occuring in Miami and Las Vegas does not translate to White Plains or Yorktown Heights.
My comment was as follows, and it is worth repeating here:
I think the operative word for buyers … (7 comments)
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Wordless Wednesday: Foot Warmer - 12/28/11 11:54 PM
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If a New Home is Your 2012 Goal, Hire a Buyer Agent First - 12/27/11 10:00 PM
Christmas was not long in our rear view mirror when the calls started up again today. We love inquiries on our listings; that's what we work for. However, there are calls, and then there are calls. I can tell with some calls that these folks are first time buyers and just starting out. You have to start somewhere, but two calls in particular made me reflect on them more like they were incoming freshman who would need to get their feet wet than capable buyers. I just said to my wife that I wish I could fast forward to July with those … (54 comments)
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An Open Letter to Jamie Dimon - CEO J. P. Morgan Chase - 12/24/11 06:41 PM
Those of us who have short sales as part of our brokerage business can relate to Mike's frustration. Short sales allow distressed sellers to leave their home with dignity, get a fresh start, and avoid foreclosure or bankruptcy. But that's not the reason for banks to streamline the process.
When a bank approves a hsort sale on a non-performing loan, theyliquidate a toxic asset years ahead of time, save on the legal fees related to foreclosure, avoid selling a repossessed property for a far lower price, and avoid the complications related to the robo signing scandal. Simply put, they get more … (9 comments)
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Wordless Wednesday: Triple Play Pics, Finally! - 12/21/11 10:39 PM
… (16 comments)
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"Do You Have an Office?" - 12/21/11 09:55 PM
It is always interesting to shift gears from figuring out a way to get my listings on page 1 of Google for certain hyper local keywords frequented by consumers in 2012 to a question straight from 1995. Specifically, I was contacted by someone whose house recently expired unsold and we discussed their options. As they picked my brain about how I sell my listings, the question was posed "do you have an office?"
Now, this is not a dumb question. It is actually an understandable question. Having worked from home for some time and then opening up our brick and mortar … (12 comments)
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The Rules of Engagement with Offers and Due Diligence - 12/19/11 11:42 PM
Perhaps my colleagues can relate to the following scenario:
A buyer is interested in your listing. Their agent emails you a slew of questions, and you get all the answers. There might be one of those 2nd or 3rd showings where where half a dozen extended family members come by and stay for 90 minutes to kick the tires while your seller client improvises family dinner at Arby's. We recently had three generations of a family look at a house in Yonkers for 2 hours and when my seller returned to his house the washing machine was broken! What in the … (35 comments)
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Hard Decision? No, Not Really. - 12/18/11 10:23 PM
Today was a first since I started my brokerage in mid 2005. I did something that I actually think more brokers and managers should do on occasion.
I informed an agent that they would no longer be with our company. I fired someone.
I'd love to say that it was difficult or that I was conflicted about the cut, but I was not. It was absolutely the right move, the company is better for it, and I haven't scintilla of a doubt about my decision. Frankly, I am glad I terminated the person before they did something that would harm the … (124 comments)
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What You MUST Know About Dual Agency if You Are Selling a New York Home - 12/17/11 07:58 PM
Pop quiz:In the State of New York, if I as the listing agent bring my own buyer to the closing table, does that automatically make me a dual agent?
If you answered "yes" you'd be wrong. If a New York real estate agent sells their own listing to their own buyer they are NOT automatically a dual agent. As a matter of fact they probably shouldn't be.
Dual agency is one of the most misunderstood and controversial topics in the real estate industry. Part of the problem is that even professionals can't agree because the rules vary greatly across state … (25 comments)
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Zillow Agent Reviews: A Request for Sanity - 12/11/11 09:40 AM
You might notice in the Sidebar of my blog that I have some excerpts to client reviews I have received with a link to my Zillow profile and ratings.
When Zillow announced their agent ratings system, I voiced some understandable skepticism. However, Sara Bonert, whom I like and respect, gave me some rather convincing reassurances that safeguards would be taken against system gamers and fraudulent reviews from the unscrupulous. I then published a post, to be fair, that Zillow was going about this ratings system in a responsible way. I wish it ended there. It doesn't.
I have to tell you … (106 comments)
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Cortlandt Market Report November 2011 - 12/10/11 09:29 AM
The town of Cortlandt has many moving parts: The villages of Croton on Hudson and Buchanan, the Hamlet of Verplanck, Cortlandt Manor, and right in the middle, the separate municipality of the city of Peekskill. Croton and Peekskill have their own school districts, so the vast majority of Cortlandt is served by the Hendrick Hudson and Lakeland school districts. This is the November 2011 market report for single family homes in Cortlandt covering Hendrick Hudson and Lakeland separately.
Hendrick Hudson Schools
November 2011- 6 homes closed at a median price of $427,500November 2010- 2 homes closed at a median price of … (10 comments)
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We'll miss you Irene - 12/09/11 07:20 PM
I knew Irene and met her a number of times at Blog and social media events. She was very warm friendly, and would have given you the shirt off her back. She also LOVED to kid around. There were some videos she used to do where she'd do a "commission check dance," really her tongue in cheek version of the person at the party that doesn't know they can't dance!
We corresponded a little, and were friends on Facebook. I noticed her going "quiet" about a month ago- I reached out to her on Facebook, and then saw in her last … (14 comments)
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Why Triple Play: Brain Food - 12/06/11 07:22 AM
I don't get to out of town conferences much. I eat up local stuff, like the New York City REBar camp, two Raincamps and those sorts of things, yes, but I have yet to go to NAR or other more far away events because it is hard to get away. One pilgrimage I am making for the third time, however, is Triple Play in Atlantic City, a joint convention of the New York, New Jersey and Connecticut Realtor Associations. The simple reason is that it is a chance to shift from working "in" my business to working "on" my business.
In … (14 comments)
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Ossining Real Estate Market Report November 2011 - 12/05/11 11:29 AM
Prices are down, but volume is up according to the data for single family homes in the Ossining school district for November 1-30 2011. All information is taken from the Empire Access Multiple Listing Service.
This past November, 11 homes closed at a median sale price of $332,000. In November of 2010, 8 homes closed at a median sale price of $367,500.
It is consistent that lower prices would yield a higher volume of closings. With the winter and end of the year coming, more sellers might be willing to discount their price for expediency. I counted several homes that sold considerably below … (3 comments)
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I Owned 11 Cars. Does That Make me a Master Mechanic? - 12/04/11 07:30 PM
Anyone who is in sales and management learns over the years how to manage the styles of personalities we encounter. I have dealt with all types and consider myself fairly adept at interacting with people smoothly. The one that still gives me trouble, however, and probably you too, is the Jekyll and Hyde type- they start out pleasant, then suddenly become aggressive without warning or cause. I encountered just such a person today. 15 minutes of pleasantries, then 5 awkward minutes of moonbeam, loony tunes arguing and inexplicable confrontation. Mercifully, this is rare, and this one had a flare for the … (28 comments)
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An Hour with Ilan Bracha - 12/03/11 11:27 PM
You seldom get to rub elbows with a $200 million producer, but when Keller Williams Scarsdale Team Leader and friend Jen Maher invited me to see the great Ilan Bracha yesterday, I wouldn't miss it for the world.
If you have never heard of Ilan, he's quite a story. An emigre from Israel, when he was working for a moving company at age 21 he was encouraged to get his license from a broker whose stuff he was packing. In his first year, he says he made $25,000. Last year he closed over 150 properties at a volume of over $200,000,000.00. … (15 comments)
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"Don't Mind the Sheep" - 12/02/11 12:12 PM
File this under "you can't make this up."
Whilst confirming the home inspection with a seller client, he filled me in on garage access and then casually said " oh- don't mind any free roaming sheep if you see them on the property. The adjoining 98 acre farm is corralling them in."
Now, after 15 years in the business I seldom look at my phone and laugh, but this is one of those surreal moments. This is New York. I could be in Manhattan in half an hour with the wind at my back. Sheep?
Yes, sheep. The home is located … (25 comments)
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Why Contingent Offers Aren't Market Value - 12/01/11 11:00 AM
Is a contingent offer at market value?
I have the same conversation over and over as I meet people in the same situation. Case in point: Today I interviewed a very nice couple in a small town just north of Westchester County who expired with their broker last month. I won't bore you with the details, but it was brought up that they *may* have a buyer for their home. However, the would-be buyers have to sell their own home first. This is not an unfamiliar scenario.
In many cases, people who have a contingent (as in, they have to … (51 comments)
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J Philip Faranda, Broker-Owner
Briarcliff Manor,
NY
More about me…
J. Philip Faranda (J. Philip R.E. LLC) Westchester County NY
Address: 522 North State Road , Suite 100, Briarcliff Manor, NY, 10510
Office Phone: (914) 762-2500
Email Me
Phil Faranda is broker and owner of J. Philip Real Estate LLC in Briarcliff Manor, NY. Since founding the firm as a sole practitioner in late 2005, the team has grown to over 30 agents & closed 350+ transactions valued at $140 million. He is in his 4th term as Vice President of the HGMLS. This blog commentary is geared toward consumers and industry colleagues alike. You can reach him at (914) 723-8900. Warning: *Sarcasm and irony advisory at all times.*
 
  
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