WHITE PLAINS CITIZENETREPORTER SETS RECORD VISITS FOR YEAR 7,017,658 VISITS! 2,098,003 VISITORS MADE 6 VISITS A DAY EVERY DAY. 63,330 UNIQUE VISITORS MADE 133,730 VISITS IN DECEMBER. WPCNR AVERAGED 17,284 VISITORS A WEEK, VISITING 31,270 TIMES.

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WPCNR CAMPAIGN 2011. News & Comment by John F. Bailey. October 24, 2011:

 

 The League of Women Voters sponsored its traditional Candidates Forum Monday evening at the library. The forum did go according to form and did not raise the substantial questions of Common Council Candidates that should have been asked.

 

The first Forum held at the Women’s Club produced the usual decorum among candidates, their professed love for White Plains, its “diversity,” the need for affordable housing, (which is odd, since White Plains already has plenty of affordable housing, it’s just illegal, just ask civic leaders living in Battle Hill, Fisher Hill, Eastview and DeKalb neighborhoods); the need to protect neighborhoods (code words for denying French American School of New York from building its campus on the former Ridgeway Country Club); the need for fiscal vigilance, the need for more economic development, (without recognizing that half the west side of town is locked in as an urban renewal project with the city having to take the lead).

 

 There were no attacks on the incumbent councilpersons for letting city finances get into the present crisis. There were no attacks on the incumbents’ voting for site plan renewal after site plan renewal that now has the effect of stalling any development until the landowners take their sweet time funding their projects.

 

There was a noticeable lack of preparation on the part of Republican council challengers, one of whom totally misstated the sales tax trend. With the exception of Terrence Gueriere, they exhibited no preparation for the forum, no knowledge of how things got this way in the city today,let alone the condition the city is in today, and no stomach for even suggesting that the present councilpersons were perhaps just a wee inattentive the last four years, and perhaps made questionable decisions?

 

It appears that the always cooperative Republican City Committee is handing the electon to the Democratic Foursome by not spending much on a campaign, not attacking Democrats’ past performance, and not coming up with even a platform other than “Stop FASNY.”

 

WPCNR prepared a list of issues and questions that if asked at the final debate sponsored by Concerned Citizens for Open Space coming up might be revealing. The questions (only questions 18 and 21 were asked by citizenry):

 

For starters, if I was preparing questions for tonight’s debate, or even making statements as a candidate, I’d explore the following:

 

1. Pension costs for the city are going to be up about 20%, will you cut the budget to meet that demand, or raise taxes (since the 2% state cap exempts pensions from being subject to capping?

 

2. Do you advocate keeping White Plains property taxes at only  a 2% increase? Or will you vote to override the cap?

 

3. Will you hire more police for the city to get the police department up to their authorized compliment of officers?

 

4. Do you advocate reorganization of the police department by outsourcing clerical and record-keeping duties to save pension, salary and benefits costs?

 

5. Do you advocate cutting the Department of Public Works staff in favor of outsourcing, cutting benefits, salaries.

 

6. Do you advocate another increase in the White Plains Sales Tax to cover union costs over the next few years.

 

7. Would you advocate a blanket surcharge on all commercial property tax owners to replenish losses in revenue caused by successful commercial certioraris?

 

8. Do you advocate a “revalulation” of all White Plains Commericial and Residential Property (as advocated by Westchester County and New York State officials) to stabilize property taxes?

 

9. What is your solution for coping with the property tax refund crisis that is the main cause of increased property taxes?

 

10. Would you cut city services to keep property taxes at zero and what services should we cut?

 

11. How will you get the site plans currently stalled around the city such as North Street Community, 55 Bank Street, the Bloomingdale Road mall at the Department of Labor building, Maple Avenue condo-approved sites, going again?

 

12.  Will you insist on financing commitments from developers prior to site plan approvals, and penalties if the project is not commenced when scheduled?

 

13.  Will you crack down on illegal housing by announcing “safety” inspections of all single and multi-family homes in the city? Or inviting landlords in violation to participate in an amnesty program?

 

14.  Will you work with the Mayor’s Office to advocate televising all work sessions and Special Meetings?

 

15. Will you work for the city and the school district to hold parallel and cooperative budget development to mitigate tax increases?

 

16. Do you advocate the city purchasing the Ridgeway Property back from the French American School of New York to avert development of that property?

 

17. Do you advocate beefing up the city legal department with specific expertise, as well as  planning, and building departments  to avoid the millions of dollars in legal fees assigned annually to outside law firms for such ongoing activities as  certiorari fights, planning activities, zoning and labor negotiations?

 

18. Will you work for equal public works services in all neighborhoods?

 

19.  Will you work with the Corporation Counsel and the Mayor to reveal lawsuits the city is newly faced with? (Currently such information is suppressed.)

 

20. What do you believe are the new challenges confronting the updating of the City Comprehensive Plan?

 

21. What is your plan for positioning White Plains to potential businesses?

 

Feel free League of Women Voters to pick and chose your queries.

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WPCNR HOUSING TIMES. By John F. Bailey. October 19, 2011:

 

White Plains realtor and President of the Westchester Putnam Association of Realtors, Mike Graessle of Better Homes/Rand Realty reports City of White Plains housing sales down 25% in the months of July, August and September,with prices continuing to soften, but he feels, stablizing.

 

 

Mike Graessle on a recent appearance on the city news roundup show, White Plains Week (Fridays, 7:30 PM, Channels 45 and 76, or www.WPcommunitymedia.org) updates his appearance with the latest White Plains realty sales numbers.

 

 He noted to WPCNR that the decline in  homes on the market (125 as of October 15)may bring a robust spring selling season with competition for starter homes. The city sales decline contrasted with home sales in the rest of Westchester County which went up 8% (See last week’s story on county realty sales.)

 

The average selling price of a White Plains home continued declining in the third quarter drifting down to $619,732, 7.7% below the third quarter of last year, ($671,501). The time a White Plains homeowner can expect to sell their home remained at 155 days ( 5 months). Fewer White Plains  homes were put on the market the last three months (70) than the third quarter of last year (82) 

 

Graessle said  Co-op sales, however, were up an “astounding 74%” from 21 in the third quarter of last year to 37 in the last three months, well ahead of the county increase of 18%. The average price up 16% to  $185,360. The median price (half sold above, half selling below) was $182,250, with the time it takes to move a co-op declining to 215 (5 months), and inventory of co-ops up to 105. Graessle attributed this to a younger market seeking their first home and seeking deductibility of housing costs from their taxes.

 

There were 39 Condominium sales, up by 3 units over the third quarter of 2010. The average sale price was up 26.7% to $592,844, compared to $467,858 last year. The median sale price was also up, $408,000 contrasted with $385,000 a year ago.

 

Mr.Graessle remarked that it took longer to sell a condo this year, 201 days (almost 7 months). The number of condominiums on the market are down by 14%,, 79 compared to 92 in the same quarter last year. Condominiums are being priced more realistically, he said, with the sellers eventually selling their units for 4.2% less than what they had first offered. In 2010, sellers were on average selling eventually at 5.7% less than their offering price. Presently 133 condominiums are on the market in the city.

 

Graessle observed that the decline in selling prices of  family homes, was stabilizing as sellers priced their homes realistically going on the market.,  He noted that nventory was being cleared out. He said high-end homes were no longer driving up the average selling price. As the inventory declines, Graessle predicted a strong spring selling season that could bring more competitive bidding for  desirable homesl

 

In the last three months, 12 homes in White Plains sold in the $400,000 range; 10 homes sold in the $500,000 to $600,000 price plateau; 6 in the $600,000 to $700,000 grouping and 10 in the $700,000 to $800,000 range; 2 in the $800K-$900K price bracket; 2 in the 900K-1M range, and 3 in the 1M to 1.5M range.

 

Graessle pointed out that these sales figures represented closings from the spring and that quarterly sales results are lagging three months behind current contracting activity.

 

In conclusion, he said that the home sales are now reflecting a younger demographic entering the White Plains market.

 

Graessle said the real estate market is not usually strong after Thanksgiving until spring.

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WPCNR POLICE GAZETTE. From Commissioner David Chong, White Plains Department of Public Safety. October 18, 2011:

At approximately 7 PM last night, Monday, Police units were called to White Plains Hospital on a report of two females suffering from stab/slash wounds.

 

Investigation reveals that the two 18 year old females had confronted and then been involved in a fight with another 18 year old female at the bus stop located in the vicinity of Mamaronek and Martine Avenues.

 

During this fight, one of the women suffered a serious wound that required emergency surgery while the second woman suffered less serious, but substantial wounds.

 

The second woman was treated and released. We are holding their identity at this time because of the on-going investigation.  Both women are White Plains residents.

 

Detectives working through eyewitness accounts quickly identified the suspect third woman.  She was later located in front of 325 Mamaronek Ave. around midnight and taken into custody.

 

 

She is identified as Christina Hernandez, age 18, a resident of Thornwood NY.  She is currently being charged with Assault first degree, a felony, and Criminal Possession of a Weapon fourth degree a misdemeanor.

 

Preliminary investigation reveals that this fight was part of an on-going dispute between these women that goes back to their days in high school.

 

The alleged weapon used was a box-cutter.

 

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WPCNR THE HOUSING NEWS. From Westchester Putnam Association of Realtors. October 13, 2011:

The Westchester-Putnam real estate market enjoyed a welcome uptick in sales volume in the third quarter of 2011.  Real estate firms participating in the Empire Access Multiple Listing Service reported a total of 1,944 closed transactions in Westchester in July through September, an increase of 148 transactions or 8% from the same period last year. 

 

Among the various property types in Westchester County, co-op sales posted the largest percentage increase, 18%.  The 160 Putnam County transactions constituted a 13% increase. These Westchester and Putnam County closings largely resulted from market activity during the late spring and early summer months.

 

The burst of third quarter sales still was insufficient to counterbalance the relatively weak postings of the first and second quarters.  From January through September there were 4,774 closed sales in Westchester County, about 8% fewer than for the first nine months of 2010. 

 

However, the direction of the market appeared to be improving.  On a seasonally adjusted basis¹ the third quarter sales were running at a rate 5% ahead of the prior quarter. In Putnam County the improvement was 12%.   Taking all nine months into account and projecting for the balance of the year, 2011’s year-end performance could come close to 2010’s and establish a mildly improving trend line from the depths of the recession in 2009. 

 

 

 The third quarter median sale price² of a Westchester single family house was $684,005 or about 6% below last year’s level of $730,250 when there was a high (28%) proportion of million-dollar-plus properties in the mix. 

 

The proportion of high end sales decreased just slightly to 26% by 2011 and thus did not influence the overall third quarter median price very much.

 

Rather, the average price of properties selling for less than $1 million decreased by 8% on average from a year ago. 

 

 In 2010 the median sale price among properties selling for less than $1 million was $590,000; in 2011 that submarket median fell to $540,000. 

 

The third quarter median sale price of a Westchester condominium decreased by just 2.5%, to $337,500. For cooperative units, however, the decrease was 7%, to 6,011. United States Manuals Step-by-step Tutorials   It is noteworthy that single family houses and cooperatives, both posting lower prices, also posted higher sales volumes. 

 

In Putnam County there was no change from the $330,000 third quarter single family house medians posted in both 2009 and 2010. Putnam County has very few transactions in the $1 million-plus range to influence its statistics.

 

 In response to the burst of sales this past quarter, the end-of-quarter inventory in Westchester on September 30 was slightly decreased from last year, by 3% to 7,124 units. Putnam County’s single family house inventory decreased by about the same percentage. Inventory in both counties is now a bit lower than it was in 2008 when the recession was building.

 

 It would be fair to conclude from these sales data that lower prices stimulated much of the increase in sales volume.  Low mortgage interest rates counted, too. 

 

During the late spring when consumers were applying for mortgage loans for these now-closed transactions, the average mortgage interest rate on a 30-year conventional loan was trending downward from about 5.0% in April to about 4.7% by July. 

 

The combination of lower prices and extremely low interest rates made Westchester and Putnam real estate more affordable than at any time in recent memory, thus turning some of the pent-up demand into real sales. 

 

 Another factor that bodes well for the Westchester-Putnam market is the apparent increase in sales activity in New York City.  Reports from various brokerages operating in the city indicate that sales volumes in the boroughs have increased in the range of 12% – 16% over last year.  If that level of activity is maintained it will unblock the city’s market and allow more sellers in New York City to move to the suburbs including Westchester.

 

Unemployment remains a serious problem although Westchester is outperforming the State and New York City with an unemployment rate that has trended downwards from 7.3% in 2009 to around 6.5% today. 

 

Still, consumers are exposed to incessant reporting of the national rate, 9.1%, which contributes to a nervousness about economic conditions that in turn suppresses enthusiasm for purchasing a property. Wild swings in the stock market also add to the climate of uncertainty. United States Guidelines Step-by-step Guide   Overall, however, if the country does not fall into a second recession, our region’s third quarter real estate results point more to an emerging recovery than to backsliding into a moribund market..

 

 

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¹  The seasonally adjusted rate is an annualized rate for a given quarter. It represents what the total sales volume would be for the whole year based on the quarter’s customary share of total annual sales.

 

² The median sale price is the mid-point of all reported sales, i.e., half of the sales were for more than the median price and half were for less.  The median is not affected by unusually low or high sale prices.  The mean sale price is the arithmetic average, i.e., the sum of all sales prices divided by the number of sales. The mean does reflect the influence of sales at unusually low or high prices. United States Instructions Step-by-step Examples