Pelham NY: A Community of Homes

Wednesday, June 23, 2010

Pelham New York 2010 | Fewest Property Tax Grievances Filed in Almost Two Decades

The Town of Pelham Board of Assessment Review received 115 property tax grievances last week requesting reduced valuations that could lower owners' future real estate tax bills.

In the 19 years since Assessor Michele Cassandra has served, the 115 grievance filings were the fewest ever filed. She estimated that approximately half of the 115 were filed by commercial property owners.

It has been 13 years since Pelham adopted full-value assessments, with differing tax rates for properties classified "residential" and "non-residential."

Since re-val, some homeowners have refused to allow the Assessor inside their homes, making it more difficult to accurately value them. In some cases, the initial re-val assessment 13 years ago could have been on the high side. Without an interior inspection by the Assessor, the original re-val assessment trended up (and this year, generally down) based upon market conditions. The Assessor's review was limited to consideration of filed building and alteration permits and drive-by inspections.

The Board of Assessment Review has until September 15, when the tentative assessment role becomes final, to rule on the grievances and send notice of determination letters to grieving owners, who then have until October 15 to file appeals.

Stay tuned . . .

Thursday, June 17, 2010

Pelham New York Market Snapshot

Pelham New York | On the Market: 90 1-Family Homes, 11 Multi-Family Homes, 9 Condos, 21 Co-ops, 27 Rentals, 4 Vacant Lots, 6 Commercial Properties (MLS Listings)
Contracts Signed 1-Family Homes: 4 (2 Kravitz/DeSantis; 2 Other Brokerages)
Expired Listings (did not sell or rent): 5 (0 Kravitz/DeSantis; 5 Other Brokerages)

Noteworthy
Congratulations to Georgette M. Pacia of Ann DeSantis Real Estate. This month, 5 Homes were sold through the MLS that were listed by Pelham brokers. Of these, Georgette’s exclusive drew multiple bids and sold for the highest ratio of offered price to sale price: 99.80%.

Felicidades a Carmen M. Chacon de los REALTORS® Kravitz, que alquiló una gran casa en Westchester a un cliente de traslado internacional.

A Kravitz/DeSantis buyer signed contracts to purchase a bank-owned home in Pelham after the listing expired from the MLS.

5 written offers were made for a Kravitz/DeSantis exclusive 3-Family investment property short sale in Dunwoodie that was listed June 1.

Of 6 Commercial Properties on the market, 3 are Kravitz/DeSantis exclusives: A store & offices on Wolfs Ln & a gas station property at Shore Rd & Pelhamdale.

14 Pelham Foreclosures (Judgment of Foreclosure or Lis Pendens) are online at Kravitz/DeSantis’ http://www.pelham-realestate.com/ web site.

Newsworthy
Brokers Elaine Moshe, Peter Mastroianni, Rosalie Kravitz, and Lester Kravitz attended last week’s 2-day national Real Estate Leadership Conference. Peter, Rosalie and Lester also attended last night's Lucky Strike Social Media Club in Manhattan.

Lester, President of the Guild of Independent Real Estate Professionals, a network of 20 leading offices in the region, said that real estate professionals are lobbying in DC to avert a tax credit crisis by extending the June 30 closing deadline.

1,056,166 Facebook users saw our ad last week. 425 clicked through to www.facebook.com/WestchesterHomes
MLS statistics as of 6/14/10

KRAVITZ, REALTORS®, LTD. 914 738 7777 89 Wolfs Lane Pelham NY 10803
E-mail Kravitz@WCMLS.com

ANN DeSANTIS REAL ESTATE 914 738 1360 4550 Boston Post Road
Pelham Manor NY 10803 E-mail AnnDeSantis@WCMLS.com

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Thursday, June 10, 2010

Realogy's Perriello: REALTORS® Moving to Head Off Tax Credit Crisis

Alexander E. Perriello III, president and chief executive officer of the Realogy Franchise Group, said real estate industry leaders are asking Congress to extend the June 30 closing deadline imposed by the Worker, Homeownership and Business Assistance Act of 2009.

Under the Act, qualifying homebuyers who signed purchase contracts by April 30 are entitled to up to an $8,000 tax credit, provided they close their sales by June 30.

But as the deadline looms, buyers are learning that their closings may be delayed because lenders and title insurers have piles of unfinished paperwork due to a spike in April applications triggered both by the tax credit program and an unanticipated market-wide spring surge in contracts signed.

Senate Majority Leader Harry Reid was asked to address the issue now to head off month-end dilemmas for buyers, said Perriello yesterday at a national real estate industry leadership social media conference in Rye, New York organized by RISMedia.

Perriello oversees Realogy's brands, which include Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Coldwell Banker Commercial®, ERA® and Sotheby's International Realty®.

Realogy is a owned by Apollo Management, a private equity firm run by Leon Black. Black also was in DC this week, but he was meeting with legislators behind closed doors to rally against proposals to raise taxes on hedge fund profits, according to The Financial Times.

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Thursday, June 03, 2010

Reservations Being Accepted for Pelpark Luxury Residences

Pelpark LLC has opened the waiting list for apartment residences at 101 Wolfs Lane in downtown Pelham at First Street. The reservation form is online at the Pelpark.com site.

Five studios averaging 570 square feet, 33 one-bedroom apartments averaging 1,146 square feet and 44 two-bedroom apartments averaging 1,903 square feet are planned. All apartments will have private balconies.

The building will have an indoor pool and health club, a green roof, retail shoppes and parking. The apartment layouts are senior-friendly. The building has an environmentally sustainable design.

The rental cost for the apartments will be based upon market conditions and will be comparable to similar luxury residences. Projected occupancy is mid 2012.

The plans are on the Internet at Pelpark.com or they can be obtained by contacting Pelpark.
Applications also are available by calling 914-738-2222 or by sending an email to info@pelpark.com.