Archive for June, 2010


Global Industry Leaders Recognized

0 Comments By Frederick Romley on June 30th, 2010
Tags: , , ,      Categories: Houlihan Lawrence News, Relocation

WWERCMember logo e1277923315162 Global Industry Leaders RecognizedWorldwide ERC®, the association for workforce mobility, recently announced that 118 industry leaders had earned their newly launched designation,  Senior Global Mobility Specialist (SGMS). We are pleased that Houlihan Lawrence’s own Elizabeth Nunan, Vice President of Global Business Development, is among the first class of designees.

 The GMS designation program, first introduced in 2003,  educates individuals who work with mobile employees in the U.S. and around the world. Worldwide ERC CEO Peggy Smith, SCRP, SGMS, notes that “The GMS and SGMS certification serves to both educate professionals and recognize global workforce mobility competency. The subject matter covers fundamentals and strategies that build knowledge for professionals in any country, and addresses the intercultural challenges of conducting global business. The learning imparted through the GMS™ program resonates strongly with those who take the training and earn the designation.”

To date, over 2,500 GMS designations have been awarded in 51 countries to individuals intent on expanding their workforce mobility proficiency. All new SGMS designees are listed on Worldwide ERC’s website. Congratulations to Liz Nunan and the other members of the first class of SGMS’s on your dedication and achievements within the global workforce community.

Sports and Real Estate

0 Comments By Gay Prizio on June 29th, 2010
Tags: ,      Categories: Buying, Westchester

There was an interesting real estate article in the Sports section of the Journal News – yes the Sports section – regarding what would happen to real estate and local businesses if LeBron James were to sign with the Knicks and buy a home in Westchester County. The home the Journal News picked for Lebron was a Houlihan Lawrence listing,  Rosewood in Chappaqua, NY.

Houlihan Lawrence COO Chris Meyers was quoted, saying that many players in the late 90s and early 2000s bought homes in Purchase, NY — when one bought several more followed because they like being close to one another.  With over 90 homes above $5m currently listed, LeBron has a lot to choose from if and when they call New York home.  

Sports is big business with super-sized salaries. The residual revenue that a marquee sport figure could generate for a community is staggering. Read the full article, Area would benefit if LeBron came, from the Journal News.

Out and About this Weekend

0 Comments By Gay Prizio on June 24th, 2010
Tags: , , , , , , ,      Categories: Dutchess, Out and About, Putnam, Town Guides, Westchester

crowded beach 150x150 Out and About this WeekendIf the beach gets too crowded, here are summer events happening in Westchester, Putnam, and Dutchess counties area:

 

 

 

 Friday, June 25th

Croton-on-Hudson – Summer Concert Series in Senasqua Park at 7pm

Saturday, June 26th

Cross River – Summer Solstice Bonfire, 7pm Ward Pound Ridge Reservation Routes 35 & 121 South

 Millbrook – 13th Annual Mashomack International Polo Challenge, noon to 3pm

 Rye — Colonial Encampment, Rye Town Park, 10am to 3pm

Sunday, June 27th

Mt. Kisco – 100th Birthday Tour of Merestead, 455 Byram Lake Road, 1pm

Somers – Butterfly Walk, Muscoot Farm, 1 to 3pm

White Plains through Yonkers – Bicycle Sundays, The Bronx River Parkway, 10am to 2pm

New Developments Fuel Cautious Optimism

0 Comments By Gay Prizio on June 21st, 2010
Tags: , , , ,      Categories: Buying, Westchester

Sunday’s New York Times real estate section featured an article about new construction projects as examples of optimism and pent up demand in the local housing market.

Monarch at Ridge Hill, which opens for pre-sale this week, was highlighted in the article.  With virtually no advertising, albeit building signs, sales activity is indeed off to a positive start. There are nearly 100 appointments booked and the sales calendar is filled though July.  It appears that prospective buyers are eager to learn more about Monarch, which is based on the tenets of New Urbanism.  

New Urbanism features a mix of uses, including residential, retail, dining, entertainment, recreation and office establishments located within a single development to create a complete community. Residents have everything they need within a 5- to 10-minute walk from their home.  Cars are not needed and walkability is promoted and encouraged to allow for a smaller carbon footprint, and authentic neighborhood atmosphere.

Monarch, a 162-unit condominium building, is located within the larger Westchester’s Ridge Hill, a 1.3 million square foot mixed-use development currently under construction on an 81-acre hilltop site between the New York Thruway and the Sprain Brook Parkway.  Ridge Hill’s village will feature anchor stores Whole Foods and Cinema De Lux, an 18 screen movie theater. Other retail tenants include Sephora, L.L. Bean, The Cheesecake Factory and Ann Taylor Loft. Westchester Medical Group will also be a significant tenant at Ridge Hill.

Houlihan Lawrence Project Marketing is the exclusive marketing and sales agent for Monarch at Ridge Hill.  To learn more about Monarch at Ridge Hill call 914-375-3710.

Houlihan Lawrence Looks Forward

0 Comments By Gay Prizio on June 17th, 2010
Tags: , ,      Categories: Dutchess, Houlihan Lawrence News, Luxury Country Properties, Putnam, Westchester
Where We Grow From Here
DSC01388 e1276618345615 Houlihan Lawrence Looks Forward

Stephen Meyers CEO, Nancy Seaman Chairman, Chris Meyers, COO

Houlihan Lawrence held a company-wide Networking Breakfast at the Westchester Marriott in Tarrytown June 14th. The theme of the event was “Where We Grow from Here”.  The opening speaker, Houlihan Lawrence Chairman Nancy Seaman, spoke about the current market dominance of Houlihan Lawrence. After quoting a list of statistics showing impressive market share growth, Nancy pointed out that it was the incredible group of agents at Houlihan Lawrence that drove the growth. Nancy went on to thank the agents and told them we could not have achieved such dominant market share without their hard work and professionalism.

Repositioning for growth in the “new normal.”

Stephen Meyers, CEO,  followed up by asking the question, How do we reposition ourselves for growth in the new normal? Stephen charted Houlihan Lawrence’ s growth year by year, encapsulating the company’s tremendous foresight and vision the past two decades. In 1990, Houlihan Lawrence had 15 offices and  300 agents with 13% market share in Westchester and Putnam counties. In a mere 20 years, Houlihan Lawrence has transformed itself into the market leader with 25 offices in Westchester, Dutchess, and Putnam counties, 1000 agents and 33% market share. As the market leader, Houlihan Lawrence also holds an impressive 21% market share lead over the #2 broker in the area.

The Mark of a Great Brand

Chris Meyers, COO, spoke about the Houlihan Lawrence brand and its power to distinguish itself from other real estate firms.  It is Houlihan Lawrence’s commitment to its core values -

great brands Houlihan Lawrence Looks Forward

Great brands constantly push the limits, introduce new ideas, and stir the pot of consumer imagination.

excellence, integrity, passion and community – that are the foundation of the Houlihan Lawrence brand. These values manifest themselves in a network of professionals who are trusted real estate advisers, expertly guiding buyers and owners through the emotional, financial and sometime traumatic process of buying and selling real estate. At its core, real estate is a relationship business and Houlihan Lawrence agents consistently navigate a positive real estate experience for their clients.

Using Social Media to Build Brand Awareness

Liz Nunan, Vice President of Global Business Development, spoke about  “Why Brands Now Use Social Media to Build Brand Awareness, Connect with Consumers and social media awareness 150x150 Houlihan Lawrence Looks ForwardGrow Globally”. Liz showed that home buyer demographics closely match the demographics for Facebook users and described how Facebook can be used to promote your brand and help build your reputation. L iz’s traditional marketing  methods such as direct mail and one-on-one meetings have been largely replaced with the Social Media tools at her disposal. As a result,  her networking capabilities have have greatly expanded and she now “dominates” the google search of her name.  

Luxury Market Overview 

Anthony Cutugno, Sr. Vice President gave an overview of the luxury market, and how his division, Luxury Country Properties, is faring as the very concept of luxury is being luxury redefined e1276618156525 Houlihan Lawrence Looks Forwardredefined. Conspicuous consumption has been replaced with homes that embody quality, craftsmanship and value, and the meaning of luxury has been altered to align with a buying public that thinks and acts differently than it did just 3 years ago.  

Indeed, the luxury market is off significantly from its peak in 2007, but signs of encouragement are on the horizon. Specifically, LCP transacted more deals year-to-date in 2010 than all of 2009.  Consistent with our leadership position, Houlihan Lawrence’s market share of homes sold over $2 million has actually increased to a phenomenal 53% in 2010 year-to-date. Moreover there are many important homes currently on the market making this an especially bountiful time for the luxury buyer.

Going Organic

1 Comment By Gay Prizio on June 11th, 2010
Tags:      Categories: Dutchess, Out and About, Putnam, Westchester

fresh vegetables 150x150 Going OrganicMichelle Obama would smile if she saw the abundance of local farmers markets in Westchester, Putnam and Dutchess counties. What a great Saturday or Sunday morning destination to pick up a garden ripe peach, a bunch of fresh-picked flowers or a piece of Artisanal cheese.

Local Westchester County Farmers Markets

Local Putnam County Farmers Markets

Local Dutchess County Farmers Markets

Making The Connection

0 Comments By Gay Prizio on June 8th, 2010
Tags: , ,      Categories: Buying, Westchester

A Manhattan real estate agent recently commented that she felt like she was selling commercial real estate, not residential, because her buyers were so dispassionate and detached in the purchase of their future home. 

Purchasing a home has long been about buyers making an emotional connection. The recent downturn has forced buyers to use their head rather than their heart when considering a new home. Crunching numbers has replaced “falling in love” and math trumps sentiment.  

home sweet home 150x150 Making The ConnectionAnecdotally we have seen some buyers making that important connection with a home and using both heart and head to make a decision. Such was the case with a recent home for sale in Westchester. The listing was aggressively priced and several builders loved the land, but they thought the house was a good “teardown” and could yield a decent profit.

The sellers, who have lived in their home for many decades, were adamant their charming home be sold to a family who would cherish it as much as they have. They rejected a builder’s as-is asking price offer.  

Two competing offers surfaced from families who wrote to the buyers, accompanied by family photos, pledging their love and affection for the home – and both gave over asking price offers. The family that ultimately purchased the home are thrilled, and acknowledge that the the attachment they made drove their heart as well as their head when it came to buying this home. 

Do you think that emotions should enter into residential real estate decisions?

The “Great Lakes” of the Hudson Valley

1 Comment By Anthony Cutugno on June 3rd, 2010
Tags: , , , , , , ,      Categories: Dutchess, Luxury Country Properties, Luxury market, Putnam, Westchester

Loch Lyall 150x150 The Great Lakes of the Hudson ValleyThere’s nothing quite as restful as looking out over a serene lake, particularly at this time of year. While we can’t compete with the scale of the celebrated “Great Lakes”, there’s no need to head toward Canada to experience secluded lakefront living given the many spectacular lake properties found throughout our region.

Loch Lyall Pool 150x150 The Great Lakes of the Hudson ValleyCapturing the spirit of the Adirondacks, The Lodge at Loch Lyall is a breathtaking 116-acre estate in Garrison featuring its own private lake with a unique stone lodge, guest house, lakefront pool, tennis court and stone dock - all within an hour of NYC.

32 Perch Bay 013 150x150 The Great Lakes of the Hudson ValleyDeer Run enjoys a private and beautifully-planted 10+ acre setting  in Waccabuc, a tranquil community surrounding  Lake Waccabuc, a mile-long glacier lake widely considered to be one of Westchester’s most beautiful lakes.

Clove Hill Farm Lake 150x150 The Great Lakes of the Hudson ValleySwimming, boating and fishing on your own 7-acre lake are just a few of the outdoor activities to be enjoyed at Clove Hill Farm in Beekman, a unique  205-acre country retreat offering the scope and amenities of a world-class resort.

Historically Low Mortgage Rates Fuel Demand

1 Comment By Mark Logue on June 1st, 2010
Tags: , , ,      Categories: Buying, Credit, Market Conditions

It is the beginning of June and I am absolutely amazed that we are still looking at historically low mortgage rates. national average contarct mortgage rate 26 150x150 Historically Low Mortgage Rates Fuel DemandSince January, I have been predicting higher interest rates by the middle of the 2010. What has happened is the average 30-year mortgage rates fell to 4.8% last week from 4.83% the previous week, according to the Mortgage Bankers Association.

Like everyone else, I was bracing for higher interest rates once the Federal Reserve ended its $1.25 trillion in purchases of mortgage-backed securities at the end of March.

Now with fears growing about Greece’s debt woes and whether excessive state borrowing will come to a head in Portugal, Spain, Ireland (the home of yours truly) and even the UK, we are looking at shaky global stock markets,  causing a “flight to quality” in the U.S bond market. The U.S. home buyer is reaping the benefits of  global economic uncertainty and the European debt crisis through amazingly low mortgage rates tied closely to the U.S. treasuries.

LOCK OR FLOAT?

Mortgage rates are at their best levels of the year. Consumer borrowing costs are at the mercy of the stock market right now. If investors continue to have a dim outlook on the global economy, stocks will move lower and mortgage rates will move lower by another 1/8 to 1/4 %. This only occurs if lenders decide to pass on the savings (maybe not with volume at these high levels). On the other hand, if stocks move upward, we will see Treasuries rise and consumer rates will climb. 

Remember, mortgage rates ALWAYS rise faster than they fall. With that in mind, I think that it will take something really bad (yet again) to get these rates to the 4.5% level on conforming loans. I am advising my clients to take advantage of these attractive interest rates and lock in today.