FROM WESTCHESTERGOV.COM:
RECYCLING TIP:
‘Tis the season for mail orders! So, what should I do with all the loose Styrofoam peanuts I get with my packages?
Call the Plastic Loose Fill Council's Peanut Hotline at 1-800-828-2214 for the nearest location that will accept the leftover plastic packing peanuts for packaging re-use. You can also do a search on its website www.loosefillpackaging.com. There are over 1,500 Peanut Hotline collection sites in the US. Here are the locations in Westchester County:
The UPS Store
72 North State Road
Briarcliff Manor, NY 10510
(914) 941-4120
Go here and get great service from Dean and his brother!
Mail Boxes Etc #1143
282 Katonah Ave
Katonah, NY 10536
(914) 232-1500
PDQ Mail Plus
2005 Palmer Ave
Larchmont, NY 10538-2461
(914) 833-1133
Postnet80
Route 6, Unit 504
Somers Commons Shopping Center
Baldwin Place, NY 10505-1031
(914) 519-6066
Postnet729
North Bedford Rd
Green Lane Shopping Center
Bedford Hills, NY 10507-
(914) 241-3
The UPS Store
420 South Riverside Avenue
Shop Rite Plaza
Croton on Hudson, NY 10520-3055
(914) 271-0103499
The UPS Store
648 Central Park Ave
Scarsdale, NY 10583-
(914) 472-1127
Friday, November 28, 2008
Saturday, November 1, 2008
What a Horrible Market!!!
My friend and colleague Diane Silverman recently told this story at our Keller Williams staff meeting in White Plains, NY. I just loved it and thought I'd share it on my blog.
Two of my neighbors just walked away from their homes because they couldn’t afford their monthly payments and they couldn’t sell because the value had dropped below their mortgage. Many more neighbors were trying to sell their homes but there was such a glut on the market that nothing was moving. Families with two children were stuck in one bedroom units.
The year was 1994 and the location was Bellerose, Queens and the market was so horrendous that it made this one look like a walk in the park. I’m serious. The situation was so bad that I, myself, ended up selling my co-op at a 36% loss.
I bought the co-op in 1988 for $47,000. My apartment complex had just converted to co-ops and I got the insider price. Outsiders were paying between $75,000 and $100,000 for the same units. A few months later, my neighbor told me she was offered $125,000 for her co-op. Then, in 1994, the market dropped and I sold my co-op for $30,000.
Two factors made the market worse than it is today: the interest rates were around 9% and the inventory was so high that Realtors wouldn’t even take on new listings. I offered my Realtor an imaginative incentive to sell my place: a free one-week stay at my time share at Disney World. It didn’t work. I ended up selling it myself after about 10 months of trying.
Now, do you want to know the most surprising thing? If I had it to do over, I would do exactly the same thing. Owning that co-op – my first home – was a real joy. The day after I closed on it I called a contractor to renovate my kitchen. I loved that new kitchen; new white wood cabinets; the countertops, floor and wallpaper had matching patterns of Dresden blue and Periwinkle on a white background. To this day I get nostalgic when I see the color Periwinkle. And, oh how I loved the fact that my friends and family were so impressed with the changes I had made to that old dreary kitchen.
I understand that homeownership is not for everyone. It’s a tremendous responsibility. But boy did it make a difference in my life. Not only did it give me a sense of permanence and a chance to build a nest (and I realized what a nester I was), but it also affected other parts of my life. Homeownership gave me confidence and a feeling that I was finally a “grown up.” Because I bought my co-op that year, 1988 was a turning point in my life; professionally, emotionally, socially, and in every other way possible.
I feel so sorry for people who have put their dreams on hold because the media has scared them to death. They think the worse thing in the world is to risk the possibility of losing a few thousand dollars if they decide to sell it in the next couple of years. Actually, the worse tragedy is a dream deferred.
Yes, prudence is needed now more than before, but if you have a relatively stable job, if you can make your monthly mortgage payments without a stretch and if you will still have six month of living expenses in the bank after the deposit and closing costs, then it’s time to turn off CNN and get on with your life!
Even though I lost $17,000 on that co-op, it was the best investment of my life.
Ironically, three months ago I sold my car at a $17,000 loss and I didn’t blink an eye. Cars don’t appreciate over time; they lose value the moment you drive them out of the dealership. But that doesn’t stop us from buying cars.
This market calls for a paradigm shift. If we stop thinking of buying a home as purely an investment and start thinking of how living in a home that truly serves our needs; a home to nurture our dreams and desires, then we can get beyond the negatives of the current market.
Cost of my new co-op: $47,000
Sale price six years later: $30,000
Creating my first dream home: Priceless!
P.S. My old co-op, in case you are wondering, is now selling for $195,000.
Two of my neighbors just walked away from their homes because they couldn’t afford their monthly payments and they couldn’t sell because the value had dropped below their mortgage. Many more neighbors were trying to sell their homes but there was such a glut on the market that nothing was moving. Families with two children were stuck in one bedroom units.
The year was 1994 and the location was Bellerose, Queens and the market was so horrendous that it made this one look like a walk in the park. I’m serious. The situation was so bad that I, myself, ended up selling my co-op at a 36% loss.
I bought the co-op in 1988 for $47,000. My apartment complex had just converted to co-ops and I got the insider price. Outsiders were paying between $75,000 and $100,000 for the same units. A few months later, my neighbor told me she was offered $125,000 for her co-op. Then, in 1994, the market dropped and I sold my co-op for $30,000.
Two factors made the market worse than it is today: the interest rates were around 9% and the inventory was so high that Realtors wouldn’t even take on new listings. I offered my Realtor an imaginative incentive to sell my place: a free one-week stay at my time share at Disney World. It didn’t work. I ended up selling it myself after about 10 months of trying.
Now, do you want to know the most surprising thing? If I had it to do over, I would do exactly the same thing. Owning that co-op – my first home – was a real joy. The day after I closed on it I called a contractor to renovate my kitchen. I loved that new kitchen; new white wood cabinets; the countertops, floor and wallpaper had matching patterns of Dresden blue and Periwinkle on a white background. To this day I get nostalgic when I see the color Periwinkle. And, oh how I loved the fact that my friends and family were so impressed with the changes I had made to that old dreary kitchen.
I understand that homeownership is not for everyone. It’s a tremendous responsibility. But boy did it make a difference in my life. Not only did it give me a sense of permanence and a chance to build a nest (and I realized what a nester I was), but it also affected other parts of my life. Homeownership gave me confidence and a feeling that I was finally a “grown up.” Because I bought my co-op that year, 1988 was a turning point in my life; professionally, emotionally, socially, and in every other way possible.
I feel so sorry for people who have put their dreams on hold because the media has scared them to death. They think the worse thing in the world is to risk the possibility of losing a few thousand dollars if they decide to sell it in the next couple of years. Actually, the worse tragedy is a dream deferred.
Yes, prudence is needed now more than before, but if you have a relatively stable job, if you can make your monthly mortgage payments without a stretch and if you will still have six month of living expenses in the bank after the deposit and closing costs, then it’s time to turn off CNN and get on with your life!
Even though I lost $17,000 on that co-op, it was the best investment of my life.
Ironically, three months ago I sold my car at a $17,000 loss and I didn’t blink an eye. Cars don’t appreciate over time; they lose value the moment you drive them out of the dealership. But that doesn’t stop us from buying cars.
This market calls for a paradigm shift. If we stop thinking of buying a home as purely an investment and start thinking of how living in a home that truly serves our needs; a home to nurture our dreams and desires, then we can get beyond the negatives of the current market.
Cost of my new co-op: $47,000
Sale price six years later: $30,000
Creating my first dream home: Priceless!
P.S. My old co-op, in case you are wondering, is now selling for $195,000.
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