The weather is expected to push the load on the O&R electric system past 1,300 megawatts — today's forecast is for 1,382 megawatts — placing O&R on Heat Watch status. O&R's all-time electric demand record is 1,617 megawatts which was set on August 2, 2006.

The Heat Watch advisory means that field crews are focusing primarily on emergency work, with normal work being performed as system conditions permit. The advisory also means that distribution system engineers closely monitor the loads on distribution circuits, transformer banks and other key system components to detect any heat-related issues so any concerns are addressed quickly.

During these watches, O&R asks customers to conserve energy as much as possible to avoid a strain on the power system.

O&R offers these tips to Rocklanders as they prepare for the storm:

• For safety's sake, don't touch or approach any downed wire. Assume it is energized and dangerous. Call O&R immediately toll-free 1-877-434-4100. Depending on the situation, call local police to divert traffic until an O&R crew arrives.

• Maintain a distance of at least 50 feet from downed wires and anything they are in contact with including puddles of water and fences. Supervise children so that they are not in the vicinity and keep pets on a leash.

• If a fallen wire is draped over a car, do not approach the car and make rescue attempts. Remain a safe distance away, and try to keep the occupant of the vehicle calm. If possible, emergency personnel should handle the situation.

• Stock up on non-perishable food, bottled water, manual can opener, baby supplies and pet food. Set your refrigerator and freezer controls to their coldest settings. Fill the bathtub with water.

• Have emergency equipment within reach — portable radio, flashlights, spare batteries, first aid kit, cell phone and important medications. Update your personal list of emergency phone numbers. Keep O&R's toll-free number 1-877-434-4100 near the phone to report power outages.

• If you experience a power outage, don't assume that O&R automatically knows about it or that someone else will report it. To be sure the outage is reported, please call O&R toll-free at 1-877-434-4100 to let O&R know what happened. The more information you can provide, the more O&R can help you.

• Remember, if the base station of your cordless phone plugs into the wall, your phone will be unusable during a power outage.

• If a family member relies on electrically operated medical devices, secure a portable generator or make alternate arrangements for care. O&R does not provide customers with generators.

• Keep at least a half-tank of gas in your car. Consider having extra cash on-hand, in case ATM machines don't work.

• Listen for storm alerts on the radio. In case of power outages, O&R will keep the stations updated on repair progress.

• Learn how to manually open and close any electrically powered garage door, security door or gate.

In addition to its own overhead line crews, underground line crews and its gas department crews, O&R has contractors ready with heavy equipment to help if there is storm-related damage to the O&R system.

Donovan said O&R Emergency Management planners also are consulting with neighboring utilities about the impact along the hurricane's path and have been discussing preparations with the various mutual aid organizations to which the company belongs.

Associate Broker, Baer & Macintosh Realty, Nyack, NY

 Someone said to me yesterday, “I’m not putting my house on the market now. Nothing’s selling in Rockland County!”  This was after the recent New York State Association of Realtors report announced lower July home sales. According to the report, the sale of existing homes fell nearly 37 percent in the Lower Hudson Valley in July. Although lower than the national average, it was at least better than the statewide drop of 50 percent.

 Personally, I’ve had an outstanding couple of months: closings on properties in Rockland and Orange Counties since June, more under contract for September and October, and a really nice collection of homes in Rockland, Orange and Westchester counties that I’ve listed that I know will sell.

 I guess I can see how someone might come to that conclusion. Recent news that housing sales in not only in Rockland County but nationwide went down last month, sent a shiver through wall street and got the talking heads rambling on about a double-dip recession.

 Economists blamed it on the end of the government’s stimulus package for home buyers – that everybody who was going to buy did so before the program ended in June. They say it sucked buyers into June like a vacuum cleaner sucks dust bunnies and left July hanging on the line.

 To that I say, “So what?” This is still a good time to sell!

 For one thing, interest rates are a lifetime low, as evidenced by the recent announcement of reduced “jumbo” loan rates for buyers of homes over $415,000. Buyers can get much more home for their mortgage dollar. We’re also seeing more qualified buyers, because banks have tightened loan requirements, we see many more buyers offering larger down payments to secure financing. I’ve even seen more cash deals than ever – we had 60 in Rockland County in July. I just closed a 1.3 million deal where the buyer bought with cash. Who needs banks!

 The point is, there seems to be a lot of unnecessary hysteria out there about selling a home right now. True, you won’t get the crazy money from the 2007 days. But you can still sell a home at a good price. Several of my sales over the last few months had bidding wars between motivated buyers reaping over listing price sales, even as much as $45,000 above asking price!

 The secrets to selling that homeowners need to know are marketing your home effectively, pricing it aggressively not by “giving it away”, but by doing the math to know that the property will appraise, then by using every tool in your Realtor’s tool box to bring in buyers. Don’t be discouraged by one month’s sales figures. There are buyers out there! I talk to them everyday! People move every month! More and more buyers are interested in Rockland and Orange Counties because of their proximity to New York City their affordable prices! Many corporations are moving personnel to this area. Several firms are in the midst of major relocations and their executives are looking hard at Rockland as it still offers great value, wonderful schools and lifestyle. For long term investments too, Rockland has got to be a good bet. With the Tappan Zee bridge expansion and the new rail link to the city going ahead prices and popularity will soar. If you haven’t seen buyers and you are on the market, then something is sadly wrong. It’s typically the price, sometimes condition and poor marketing. With a huge inventory that’s competing against you, all 3 need to be correct to make a sale.

 My advice to sellers, if you’re retiring, or moving to another job, or have other personal circumstances that say it’s time to sell, then go ahead. Buyers can see the value, if the value’s there.  

 Want to know if your home would sell? Call me for a confidential and candid evaluation; Call 845 598 5083.

Eight stunning apartments comprising one 2 bedroom with seperate entrance, 5 1 bedrooms and 2 studio feature sparking hardwood floors, stainless steel appliances, granite countertops and top of the line cabinetry. The one and two bedroomed units feature washer dryers too. All soundproofed to highest standards with new windows, air conditioning and video entry system, who wouldn't want to live there?

Hurry along if you want to secure one, they have only been on the market 24 hours and several have gone already!

Call Vanessa Saunders at 845 598 5083 for more information or a showing appointment.

Buying a House:

Advantages:
• Buying a house increases your asset.
• Houses have a guaranteed appreciation over a period of time.
• You don’t have to pay monthly rentals.
• Buying a house gives you a sense of ownership. Once you pay the loans taken on the house, you own the house.
• You can decorate your house in the way you like without getting any permission from others.

Disadvantages:
• You are responsible for all the maintenance that is to be taken care of.
• You have to think a lot before relocating to another place.
• You have to pay the property taxes.
• You have to pay the Stamp duty, broker’s fee, insurance costs, society charges, registration fees etc.
• Banks never finance your entire home loan. They may take care of 80-90% of your home loan requirement and the remaining amount is to be paid by you.

Renting a House:

Advantages:
• House maintenance is taken care of by the landlord
• No property taxes
• If you do not like the locality of your house, you can change it at any time. You don’t have to think a lot about relocating.

Disadvantages:
• Landlord can increase the rent.
• The landlord can send you a notice to vacate the place at any time on violation of any term or condition mentioned in the home rent agreement
• You have to pay forever
• You can’t modify your apartment

Conclusion:
Buying or renting a house depends upon the personal opinion of each individual, since both the option has its own advantages and disadvantages. Taking a decision also depends upon the financial status of the individual. For a person who desire flexibility of changes, renting a house will be a good option. On the other hand, if one is looking for a long term investment and wishes to increases his asset, buying a house will be the best option.

Buying a home is one of the smartest financial decisions most people will ever make. It offers an excellent investment prospect. If you rent, you’ll always be poor. The longer you rent, the less likely you are to buy. If you have saved some amount for the deposit, buying a house is the best option. By renting a house, you pay a lot for what you are not going to be the owner. By paying rents for a long time, you are not able to save for a deposit to buy a house.

It is still possible to buy a home with a low downpayment and interest rates are at historic lows. Speaking with a mortgage professional will give you an idea as to whether or not you are able to buy given your current credit rating, and income. Call me for a list of my client's recommended mortage bankers. 845 598 5083.

This beautifully renovated late 19th century cottage is situated steps from the  De Wint house where at the end of the war, in May of 1783, Sir Guy Carleton, the British commander, met with
Washington to sign orders for peaceful evacuation of British troops from New York City. Now owned and maintained as George Washington's Headquarters The De Wint House is dedicated as a National Historic Landmark and is open to the public, 10 to 4 daily.


I'd love to live in this charming house a short walk from main street of Tappan

The fenced-in cottage garden is charming, with it's meandering path leading through the pretty plantings and provides a shaded picnic spot with sunny patio. I can imagine it full of friends enjoying barbecues on the spacious deck, or picnics under the shady tree at the bottom of the garden. One of my favorite spots is the sun-room, where I can imagine sipping cold lemonade on sultry evenings while reading about the vivid history of Major John Andre and his subsequent demise at the hands of a hangman on the hilltop at Tappan.

Winter evenings in would be equally as wonderful with a cosy fireplace providing a warm glow throughout, and I'd love to entertain friends in the spacious dining room adjacent to the new kitchen.

A combination of history, charm, character and modern conveniences make this a wonderful home. Something I'd certainly love to call my own, maybe you would too?

Come and see it for yourself.

Call Vanessa for appointment or for further information about this home or Tappan, at 845 598 5083

Take a look at this home in Warwick, NY and call me for a preview!

Mortgage holders who can no longer afford their monthly home payments for whatever reason do have choices. Choice number one is to sell the home and give back the bank its money and get on with life. But what if the selling price of your home is less than they owe? This is called being “upside down” in your loan, and selling isn’t an option.

For mortgage holders who are upside down, option two is to apply to their bank for a short sale: asking the bank to accept whatever they can get for the house as satisfaction for the loan. Or, they can simply allow the bank to foreclose. Both these options will unfortunately affect the homeowner’s credit severely.

The Hows and Whys of Loan Modification

The other option for homeowners is convincing the bank to offer a loan modification. And loan mods don’t apply just for upside-down homeowners. Borrowers of adjustable-rate mortgages and home equity loans may also be considered for a loan modification.

Bear in mind that some loan modifications which come with debt forgiveness also come with credit damage, and possibly income tax consequences. Dear Old Uncle Sam may see the debt forgiveness as a form of income. But other loan modification types can be quite attractive, and range from the bank giving you a do-over and re-instating your account to current if you resume payments, to reducing your interest rate, changing an adjustable rate to fixed, allowing interest-only payments for a while or deferring payments altogether, extending the loan’s term, or eliminating bank fees.

But why would a bank say, “Can’t pay your mortgage anymore? Tut tut there, old friend. How ‘bout we just forget that nasty loan you agreed to and give you a better deal?” Bankers don’t even give away toasters any more for cryin’ out loud! The answer? One word: Good Old Uncle Sam again. (Ok, too many words, but come on…)

Under the 2008 Bail-Out Program, the U.S. government has been pushing banks to negotiate loan modifications with borrowers. Some banks are actually cooperating, or trying to appear to be cooperating. Whatever their intention, some modifications are actually being offered, and in the least, the application and approval process can delay foreclosure for up to a year.

Programs by the Major Banks

The following is information on several of the programs from major banks. Co-operating institutions include Citigroup, Bank of America (aka: Countrywide), JPMorgan Chase, IndyMac and Wells Fargo, including the HOPE for Homeowners program guidelines and revisions, and Fannie Mae / Freddie Mac loan modifications.

CityGroup

CitiGroup's loan modifications help borrowers in default by reducing the monthly mortgage payment. Choices for this are accomplished either by lowering the interest rate, extending the loan's term, or forgiving part of the debt or a combination of those terms. If you are not in foreclosure yet, call CitiGroup at 866.915.9417. Home owners who not yet delinquent may qualify for the Citi Homeowner Assistance program by calling 800.667.8424.

CitiGroup Eligibility Requirements:

• CityGroup must hold the first mortgage. Second mortgages or home equity loans don’t count.
• The home in question must be the owner’s primary residence. The summer place in the Hamptons doesn’t count either.
• The homeowner must be working in good faith with CityGroup and be truthful about his situation and income.
• The loan must be current, but the homeowner must be able to show a need for help to remain current.
• The present monthly payment must be at least 38% of the homeowner’s monthly income. 
• Filing requirements:
• A hardship letter (hardship letters explain how a borrower got into the situation, what he has done to rectify the situation so far and why he needs help).
• Pay stubs dated within the last 30 days, covering at least a 60-day (2-month) period.
• W2/tax return or year-end business statement (if applicable) for the prior year.
• Personal bank statements from the last 6 months.

A handy tip on filing packages for ALL banks:

Most banks will require you to assemble and present them with a plump packet of financial information. Keep a copy of the package you initially file, and keep it current with copies of new bank statements, pay stubs etc. One game banks like to play is to keep requesting applicants to submit and re-submit financial documents. True, it keeps the banks informed of changes in your personal situation. But it also gives them an “out” in granting modifications if the applicant can’t keep up with the blizzard of paperwork often required by loan modification departments. Now I know where all the trees are going.

JP Morgan Chase Loan Modifications

Chase gobbled up Washington Mutual and EMC Mortgage Corp. some months ago. Chase started a loan program at the end of January, 2009 for two years, intended to help homeowners in trouble with their Chase mortgages.

JP Morgan Chase Eligibility Requirements:

Chase requires applicants to submit the usual packet of information (see “Handy Tip” above) including hardship letter, pay stubs proving you have income, financial statements, bank statements and tax returns. Beyond that:

• Chase must hold the first mortgage on the loan.
• The property must be the owners’ primary residence and he must occupy it.
• Adjustable rate mortgages, sub-prime and Option ARM loans from JP Morgan Chase, Washington Mutual or EMC Mortgage Corp. may qualify.
• The homeowner must show the ability to afford a debt ratio including principle, interest, taxes and homeowners insurance of 31-40% of his monthly income.

Call JP Morgan Chase at 866-550-5705 for more information.

Bank of America (Countrywide Mortgage)

Bank of America bought Countrywide and its assets in 2009 and controls its mortgage loan portfolio. Countrywide Financial's (Bank of America) loan modification program is called The Homeownership Retention Program. It runs from December 1, 2008, with no definite termination date.

Loan Modification Program Options Offered by Bank of America (Countrywide)

Providing borrowers qualify for the HOPE for Homeowners Program, Countrywide will first offer an FHA refinance to eligible borrowers. This program calls for equity sharing.

If borrowers do not qualify for the FHA refinance, the following options are available, based on what kind of loan the borrower has:

• Sub-prime Adjustable Rate Mortgages. Borrowers will be offered a five-year extension on the introductory rate or an interest-only rate conversion to as low as 3.5%, which later converts to a fixed-rate mortgage.
• Pay-Option ARM. The negative amortization feature will be removed, and the interest rate reduced to as low as 2.5%; the loan will convert to a fixed-rate mortgage or a 10-year interest-only loan. Upside-down loans will be reduced to 95% of appraised value.
• Sub prime Fixed-Rate loans. The interest rate will be reduced to as low as 2.5%; and the loan will convert to a fixed-rate mortgage or a 10-year interest-only loan, with periodic interest rate adjustments.

Eligibility Requirements

• The property must be owner occupied and be from 1 to 4 units.
• Borrower must have a qualifying loan such as a sub-prime mortgage or a pay-option ARM, originating before December 31, 2007
• Borrower may be current but likely to become 60 days delinquent between Dec. 1, 2008 and June 30, 2012, with a loan-to-value ratio above 75%.
• Sub-prime ARM resets or Option ARM recasts must be likely to cause or have caused the borrower to become delinquent, providing the loan-to-value ratio is above 75%.

Call Bank of America’s mortgage department at 1.800.669.6607

HOPE for Homeowners Program

The Hope for Homeowners Plan is a government stimulus program executed with lenders willing to write down (or discount) the loan pay-off. Contact your lender first to see if they are willing to participate. The program began Oct. 1, 2008 and ends Sept. 30, 2011.

How it works:

Eligibility requirements are strict to prevent fraud, but because the program is a good one. First, your original mortgage is funded by a new FHA backed loan by a conventional lender. This often results in debt forgiveness on upside-down properties. The loan is funded at 90% of the property’s appraised value. Homeowners pay closing costs and an up-front mortgage premium of 3%. When the home is sold, the homeowner must share some of the future equity with the government, somewhere between 100% and 50%, depending on how much equity has accumulated to the date of sale.

Hope for Homeowners Program Eligibility Requirements

The intention of the plan is to provide a program designed to fit many upside down homeowners, and no credit score is required. Its requirements are like many other programs:

• The home must be the mortgagee’s principle place of residence and he cannot own any other properties.
• Mortgage payments cannot exceed 31% of the borrower’s gross monthly income.
• The homeowner must have been truthful in obtaining the mortgage and cannot have a record of felony fraud for the last ten years.
• The loan was originated prior to Jan. 1, 2008 and the borrower has made at least six payments.
• The homeowner is struggling to meet the mortgage payments and can not currently afford the mortgage.

IndyMac FDIC

IndyMac was seized by the government and as such is operating under the new corporation name of IndyMac Federal Bank. IndyMacFed’s program’s intent is to lower mortgage payments for its borrowers to prevent even more foreclosures. The program hopes to rescue borrowers in trouble through lower interest rates, extended terms or reduced principle balances. The program started in August, 2008, and so far has no ending date.

IndyMacFed Eligibility Requirements

As with most programs, it must be a first mortgage that is owned or serviced by IndyMac originally.

• The home must be owner occupied.
• The loan must be in default or at risk for default because of either an upcoming balloon on an adjustable rate or Option Arm.
• The homeowner must be able to afford a mortgage payment including principle, interest, taxes and insurance of 38% at a reduced rate and extended term.

Contact IndyMacFed at call 800.781.7399 or 877.908.4357.

FHFA Federal Loan Modification Program

The federal government is getting into the act to help speed up the loan modification process with its own program. Called the Federal Government Loan Modification Program (under the perplexingly illogical acronym of FHFA, for Federal Housing Finance Agency) the Fed hopes to lower mortgage payments and keep borrowers at risk in their homes longer. No termination date so far. Participants include:

 Fannie Mae

• Freddie Mac
• Federal Home Loan Banks
• Wells Fargo
• Department of the Treasury
• FHA
• Federal Housing Finance Agency
• All HOPE Now lenders

 FHFA Eligibility Requirements

• The property must be owner occupied and a primary residence.
• Borrowers must have missed at least three or more payments.
• Borrowers must be able to afford a 38% payment including principle, interest, taxes and insurance.
• No one already in bankruptcy need apply. Borrowers already bankrupt are ineligible.

Finally, it's never obtaining a loan modification is never an easy process as most banks arbitrarily turn down loan modification applicants with little or no reason. My advice is Don't Give Up! Get a good attorney.  I can point you in the direction of a really good one that deals with New York clients and has a great track record of turning peoples lives around. He writes a blog "Keep Home Your Own" which will give you some insights into his compassion, diligence and competitive spirit which makes him a winner for his clients.

For further discussion on your options when experiencing financial distress, please call me at 845 598 5083.

Visit the website www.friendsofthenyacks.org for the complete list of performers, schedule changes and rain location information.

The home was built this year by Rockland's SMK Home Builders to their highest standards. Its breathtaking views of the Tappan Zee Bridge and 30 mile vistas of Westchester and the Hudson River are equally as impressive as the quality workmanship I found inside.

In Great Britain (I was born in Wales), we have a slang term: “gob-smacked.” It’s used when you come across something so stunningly amazing that your mouth (your “gob,”) drops open and you instinctively cover it, or “smack” it with the palm of your hand. When I walked into this home, I was “gob smacked.” The wide-open contemporary architecture with its cathedral ceilings and walls of glass framed the spectacular outdoor vistas like an ever-changing art show.

The ultra modern chef's kitchen was just as impressive. It features the highest quality appliances and glass countertops, and it overlooks the main living area. I could easily picture how convenient it would be for entertaining - plenty of storage, logical layout and all the right appliances. The Realtors attending this event certainly gravitated toward the kitchen, but that could also have been due to the delicious food and wine from Nyack's Casa Del Sol that was served, courtesy of Scott Gunst of Wells Fargo Home Mortgage.

Let me tell you a little more about this wonderful home, because it really got me excited.

It is situated in one of the most prestigious neighborhoods in Rockland County, NY. The homes on Tweed Boulevard are all special in many ways. The obvious main attraction is their location, perched high above the widest part of the Hudson River, overlooking spectacular views. However, many of these homes are built on very little property and are literally "cliff hangers!" But unlike many of its neighbors, this property has over 2 acres of level lawns, lush landscaping and a wonderful pool, surrounded by a blue-stone patio. Water jets playing beyond the edge of the patio provide an exciting visual esthetic, and on a summer day, the soothing sound of pattering water can be heard throughout the house.

Back inside, there's a luxury main floor master suite with a gas fireplace and one of the most gorgeous bathrooms I've ever been in. The tub alone just has to be seen. I imagined myself settling into the bubbles, overlooking the pool with the expansive Hudson in the distance. Worthy of a Cialis ad. Somebody call the ad agency!

There are another 4 to 5 bedrooms, all with travel-magazine views. All have large closets, Brazilian cherry floors, and are interspersed with three and a half beautiful bathrooms, each one with different decor, glass tiles, amazing floors and top of the line hardware.

There is a "crow's nest" room with, again, more gob-smacking views - I'd love it as a home office, but probably wouldn't get much work done. I’d spend my time watching sailboats on the river, spectacular rainstorms and brilliant sunrises. It is accessed via a spiral staircase overlooking the pool. Except for the wonderful kitchen and stunning master bathroom, the crow’s nest room is my next personal favourite.

With all this glass and open space, privacy is assured by electric gates, a security camera system and by a surrounding perimeter fence. The double garage doors are made of opaque glass, and there is parking for more cars or guest vehicles on a sweeping driveway.

As one of the finest new homes to hit the market in Rockland for a long time, this is certainly worth seeing before it's snapped up! Contact me today and I'll be delighted to arrange a personal viewing and provide you with any other details you may need to make it yours!