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WPCNR THE HOUSING NEWS.  January 16, 2014:

Michael Graessle of Rand Realty in White Plains told WPCNR Wednesday that White Plains single family housing sales continue to strengthen the last three months.

He said that in White Plains, 52 single family home sales closed in the 4^th quarter of 2013, up 21% over the last quarter of 2012.  Average selling price was $648,512 virtually even with last year. The median selling price was $616,750.  The median price means half the homes sold were priced above $616,750, and half sold below that price.

It is taking less time to sell a house, too, Graessle remarked, with  homes sold being on the market 121 days (4 months) as opposed to 7 months to sell a year ago.

Homes are being priced to sell with sellers settling at just 5% off their selling price.

Condominium and co-op sales were sluggish.

Forty three co-ops changed owners as opposed to 41 sold last year in the Oct-Nov—December period. Average selling price of a co-op was $177,686 down 1%, median price was $158,000. Co-ops are now the new entry level housing, Graessle observed. It is taking longer for co-ops to sell however, in the last three months co-ops sold took 7 months to move.

The condominium market is down. Graessle showed statistics noting 34 condos sold last quarter compared to 44 a year ago a 23% decline. Condominium prices dropped. The average price  of a condominium  fell 9% to $439,482 from $481,000 last year. The median selling price fell to $375,000. Condos are taking an average of  4 months to sell, once on the market.

Graessle said inventory of single family homes was continuing to shrink.The fourth quarter though is the strongest quarter of 2013 with increasing demand.

For the year 2013 in White Plains real estate, single-family homes outpaced the Hudson Valley with sales up 28% (227 sales to 177 in 2012). The selling price however, dipped 3% to $626,071. Median price declined to  $565,000 from $592,000.

Condominiums through 2013 were strong until the fourth quarter. Selling price averaged $532,023 up 17%,  and 5 months on the market; 164 condos sold a 6% increase over 2013

Co-ops for the year increased sales 20% (175 to 146). Prices declined slightly, the average co-op selling for $174,046, down 4%.

Three Years of price stability.

In three years, single family home prices have gone up 2% since the year 2011 when the average selling price was $611,558. In 2013, average selling price of a Single Family Home is $626,011

Condominium prices have gone up 1% since 2011 ($532,023 to $529,331)

Co-ops in three years  have declined 9% in value. In 2011, the height of the real estate doldrums, Co-op average sell price was $191,141, but in 2013, the co-op  average sale was $174,046—a decline of 9% in three years and as of the fourth quarter of 2013 has not gone up significantly (currently $177,686).

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WPCNR TAX & SPEND NEWS. From the Westchester Business Council (Edited). January 15, 2014:

The Business Council of Westchester responded today to the New York State Court of Appeals declining to review a lower court ruling, upholding the Metropolitan Transit Authority payroll tax.

The council called on state lawmakers to repeal the MTA payroll tax on the grounds that is bad for New York’s business climate and hampers economic growth.

“The MTA payroll tax is simply a state mandate by another name,” said Dr. Marsha Gordon, President and CEO of The Business Council of Westchester. “It is an unfair burden on businesses — some of which don’t even benefit from the MTA’s services — and hampers economic growth while reinforcing the notion that New York is unfriendly to businesses. While the court has ruled this punitive tax is constitutional, state lawmakers should do the right thing with a wholesale repeal of the law. The Business Council is working hard to remove obstacles that keep businesses from coming to New York, and in some cases staying here, and stands ready to work with the governor and state lawmakers to show that New York is truly open for business.”

The payroll tax charges a 34-cent tax for every $100 of payroll for large businesses in the MTA’s 12 county region, which includes Westchester, Rockland, Putnam and Dutchess counties.

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WPCNR RAILROAD NEWS. From the National Transportation Safety Board. January 14, 2014:

The National Transportation Safety Board has issued its Preliminary Report on the Metro North December 1 accident at the Spuyten-Dyvil curve in the Bronx. There is nothing much new at this time other than what we already know. Here is the NTSB Preliminary Report:

“The information in this report is preliminary and will be supplemented or corrected during the
course of the investigation.

On December 1, 2013, about 0719 eastern standard time, southbound Metro-North Railroad (Metro-North) passenger train number 8808 derailed at milepost 11.35 on track number 2 of the Metro-North Hudson Line in The Bronx, New York. Train movements on this line are governed by a traffic control system.

The train originated in Poughkeepsie, New York with a destination of Grand Central Station in New York City. It consisted of seven passenger cars and one locomotive at the rear pushing the train.

As a result of the derailment, 4 passengers died and 59 persons were transported to local hospitals for injuries. Metro-North estimated there were about 115 passengers on the train at the time of the derailment. Damage was estimated by Metro-North to be in excess of $9 million.

The weather at the time of the accident was reported as 39° F with cloudy skies. 

National Transportation Safety Board (NTSB) investigators have completed the on-scene work in The Bronx. The investigation will continue at the NTSB headquarters in Washington, D.C.

Preliminary results of the investigation include:

• The derailment occurred in a 6 degree left hand curve where speed was limited to 30
mph.
• Estimated train speed at the time of the derailment was at 82 mph.
• Detailed inspection and testing of the signal system, train brakes, and other mechanical
equipment did not identify any anomalies.
• An inspection of the track in the derailment area did not identify any pre-accident
anomalies.
• All cars on the train and the locomotive derailed.
• Between December 1 and 11, 2013, investigators completed interviews of train crews and
first responders. Interview transcripts will be included in the public docket upon release.
• Locomotive event recorders were sent to the NTSB laboratory in Washington, D.C. for
further analysis.

The parties to the investigation include the Federal Railroad Administration, Metro-NorthRailroad, New York Public Transportation Safety Board, Teamsters Local 808, New York Police Department, New York Fire Department, and Bombardier Transportation. The Association of Commuter Rail Employees (ACRE) was initially designated as a party. However, because one of ACRE’s senior officials made unauthorized comments on the investigation to the media, ACRE was removed as a party on December 3, 2013.

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BAILEY LIFTS YOU RIGHT OUT OF YOUR DRIVER’S SEAT TUESDAYS 7:35 A.M. on WVOX WITH HIS WHITE PLAINS REPORT.

Here is just part of this morning’s commentary aired on WVOX on the TJ McCormack Good Morning Westchester Show:

The Mayor addresses the Council of Neighorhood associations in White Plains tonight at the Board of Education 5 Homeside Lane at 7:30 P.M…and it will be interesting to see the rosy message he gives the neighborhood associations who love his aw-shucks boyish charm.

Maybe he will tell the council about the new projects about to be proposed for White Plains as he mentioned last week in the televised Common Council meeting…without mentioning what they were—why didn’t he? The media dumbness this administration exhibits month after month is amazing to me…say what the projects are, please?Give people in White Plains some hope.

Well if I were the Mayor at the Council of Neighborhood Associations  tonight, I would propose the following for the next four years in White Plains…

1.     A true marketing plan for the City of White Plains...   

2.  A crusade against overcrowded, illegal housing in White Plains and the slumlords the city has been protecting for years.

3.     A welcome center for new residents and a registry of rental housing available in town – this way all sublets, multi-family homes could be licensed and monitored

4.     A Housing Registry and Advisory Commission Clearing House for all apartments in the city that would regulate and inspect all  tenant housing and residential housing in the city…

5.     A realistic parking policy that would encourage shopping in White Plains, not keep persons from coming.

6.     A 24-hour homless policy –not turning the homeless out on the street at 6 A.M. but sheparding them into jobs, educational programs, etc. so they do not wander aimlessly and get into mischief.

7.     Negotiating contracts based on the inflation rate instead of long term contracts that have fixed settlements. This might bring labor peace.

8.     Sharing sales tax revenues with school district to lower school taxes.

And for the School District— 

1.     Conduct a management efficiency survey to trim administration.

2.     Eliminate school busing to save some $10 Million in costs.—returning to neighborhood schools.

3.     Establish a district academy for learning disabled as Superintendent Connors recommended 10 years ago. It would cost about a million dollars but would save the costs of enrolling the disabled at district expense in private schools

4.     Start a Teaching Fellows Program for new teachers that would hire them for two years and allowing them to achieve a masters in two years simultaneously… similar to the New York Teaching Fellows program— the new teachers could be teaching assistants first and move smoothly into fulltime teaching positions.  

5.     District should prepare their own assessment tests for Common Core Standards  to assess where their students are and where they should be.