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• Late Payments – This is an obvious one.  When you’re 30 days or more late, your creditor reports it to the credit reporting agencies and your credit score is dinged.
• Collections - When you stop paying on a credit account and the creditor has exhausted their attempts to get a payment from you, they will send the account to collections.  This also includes any medical bills that you have not paid.  Many people are under the mistaken impression that your insurance company pays all your medical bills.  However, if the bill isn’t paid, it is still the patient’s responsibility to make sure it is taken care of.  The collection agencies also report to the credit reporting agencies.  So, not only do you get dinged for the original debt, but your credit gets hit a second time by the collection agency when you fail to pay them.
• Charge Offs – After your account has been delinquent for a certain period of time, the creditor may decide to charge off the debt as a loss on their books.  Future potential creditors will see this as a huge red flag because it shows you don’t always pay back your debts.
• Settlements – While paying a portion of your debt is much better than not paying at all, anytime you pay less than what is owed, it hurts your credit because it shows you didn’t pay the original debt in full.  This is true even when the original creditor OK’s the lesser amount.
• Bankruptcies/Tax Liens – Unfortunately, many people find themselves in the position of filing for bankruptcy because they are unable to pay their debts.  These will stay on your credit for up to 10 years.  And, even after 10 years, you may still have to contact the credit reporting agencies to have them taken off.  Tax liens will negatively impact your credit even after you have paid them off completely.
• Foreclosures/Short Sales – A foreclosure (including a deed-in-lieu of foreclosure) can cause your credit score to plummet as much as 150 points (up to 200 points if your credit was over 750 before) and stays on your credit for seven years.  A short sale, on the other hand, will knock 75-100 points off your credit score.  If you are responsible with your credit, you can qualify for a home loan again in approximately five years.  With a short sale, you can qualify for a Peekskill, Yorktown or Cortlandt Manor home in two years, providing you’ve been responsible with your credit in the interim.

All of these behaviors will stay on your credit for at least seven years.  So, before you decide to purchase your dream home in Peekskill, Yorktown or Cortlandt Manor NY, you may want to review how your behavior affects your credit so you can avoid future issues.  As always, you should talk to your trusted financial or legal advisors with any financial questions you may have.  Please contact me when you’re ready to buy or sell your New York home.

Barbara Bodnar, Your Westchester, Putnam and Dutchess County New York Real Estate Resource

June 5th, 2011

The topic of tree fertilization can be a controversial one.  I personally have been on both sides of the fence on this debate which tends to have two primary views.  One view is “Trees do well in the woods and fertilization in your yard isn’t needed”.  The other view is that “Trees in their natural environment recycle nutrients and your yard the soils and nutrient recycling are far from ideal”.  The first view is one that I held before I spent many years studying trees and their responses to supplemental fertilization.  I have developed an understanding for the second position after years of careful observation.

Your yard is a harsh place for trees, the soil has been compacted and modified to such an extent that it no longer bears much resemblance to the loamy duff of the forest floor.  Forests are harsh environments, but they are places that trees are uniquely adapted to survive and thrive in.  Trees exist in communities and grouping that balance nutrient requirements.  Unseen battles for scarce nutrients take place in the forest and result in the forest you are looking at.  The trees in your yard certainly would not exist as a community naturally in the woods.  I no longer think fertilization is ” Snake Oil”.  When correctly prescribed, formulated and correctly applied it is one of the most beneficial applications you can make to your trees.

The results of fertilization can only be seen over time in the growth and development of your landscape trees.  Any gardener knows that to keep a plant alive you must water and fertilize it as needed and on a regular basis.  If you don’t they simply struggle and fade away.  The basic N-P-K of fertilizer, nitrogen, phosphorous and potassium, come in a variety of formulations and forms.  For trees it is important to have a substantial proportion of the nitrogen in a slow release form that is available to the tree on an extended basis.

There are a variety of ways to apply tree fertilization, broadcasting on the surface, drilling and placing granules into the soil, tree spikes, low pressure high volume hose end feeders, and high pressure liquid injection systems.  Each has its advantages and disadvantages, having used all of them over the years I do recommend high pressure liquid injection as my method of choice.  This method has the advantage of being able to quickly and accurately, both important considerations, deliver the correct blended fertilizer and soil amendments to the root zone.  As we have discussed many times in the past most tree roots are in the upper 12 inches of the soil where oxygen and water are available.  Soil fertility, micro nutrients, soil pH and root stimulation are only a few of the areas that can be addressed using the correctly formulated soil injection.  The important issues of formulation, timing and proper application can be prescribed by an ISA Certified Arborist.  If you want your trees to thrive and prosper, contact your ISA Certified Arborist.

* Brad Gurr is an I.S.A. Certified Arborist and Plant Health Care Specialist dedicated to the care and preservation of trees. For more information on this subject or any plant health care related questions please feel free to contact on line at gurrb@yahoo.com.

Brad Gurr, “Dedicated to the Care and Preservation of Trees”

Barbara Bodnar, Your Westchester, Putnam and Dutchess County New York Real Estate Resource

Starting later this month, the Trinity Cruise Company will be offering three cruises each day aboard its Evening Star every Thursday through Sunday.

The Evening Star was originally commissioned as a US Coast Guard Buoy Tender to aid larger vessels in navigation, search and rescue missions, environmental protection, law enforcement and other marine duties.  In 1999, it was converted into a tour boat, where it provided sightseers an up close look at life along the Erie Canal.  This is the first year it will be calling Peekskill home.

The 46 foot long vessel can hold up to 40 passengers comfortably and is available for charter any day of the week.  Beverages are made available on all public tours.  Catering is available for charter cruises.

On each public tour, not only will you be able to see the beauty that is the Hudson River, but you will learn the history of the area as well.  As the seasons change, so does the scenery.  You don’t want to miss out!  Check with the Trinity Cruise Company’s website often to find out the latest news and tour information or you can call (914) 589-7773.

Barbara Bodnar, Your Westchester, Putnam and Dutchess County New York Real Estate Resource

Included in the festivities will be food, an arts and crafts show, parade of boats from the Peekskill Yacht Club, a Run/Walk, underground railroad tours, youth basketball clinic, classic car and motorcycle show, kids craft tent, live entertainment on the main stage and fireworks.  More than 100 local vendors, artisans and community groups will also be on hand to showcase their talents and promote community involvement.

On Saturday, August, 6th, the Dragon Boat Races will be held on the river.  Each boat is decorated with dragon heads and tails and operated by a team of 20 paddlers, a drummer and a steer person.  Each 41 foot long boat races against other teams in a heat comprised of 4-6 boats for 500 meters.  The popular Dragon Boat Races have always been held to help raise awareness of cancer by honoring those effected by cancer, including honoring those that have passed away and those who have beaten the cancer “dragon”.  During the extremely touching Rose Ceremony, paddlers will raise their roses up and throw them out onto the Hudson River.

Putting on a celebration of this magnitude requires months of planning and organizing to make it happen.  All proceeds from the event go to funding the next year’s event, with any surplus being reinvested into improvements.  If you wish to be a sponsor, please contact the Peekskill Celebration at 914-736-2000.  Volunteers are always welcome to man the information booths, sell raffle tickets, organize the teams for the Dragon Boat Races and general work.  Please click here to download a copy of the volunteer application.  If you have a team interested in joining in with the Dragon Boat Races, please click here to sign up.  If you want to paddle but don’t have a team, you can join an existing one.

If you’re in the area on the weekend of August 5-6, 2011, come to the Peekskill Celebration 2011.  It’s lots of fun and you’ll have a fantastic time.

Barbara Bodnar, Your Westchester, Putnam and Dutchess County New York Real Estate Resource

May 15th , 2011

Root Flare on Tree Planted at Right Depth

This time of year will always find me answering questions at plant sales or speaking with students about the importance of planting trees. Unfortunately this year an unseasonal cold prevented me from speaking at either. I did manage to attend and was able to confirm the old saying that ” you have two ears and one mouth so listen twice as often as you speak”. While my voice was out of commission I was able to stand back take a few pictures and listen to one of my fellow arborists speaking with a group of 4 and 5 year olds. He, being unprepared due to my sudden laryngitis, showed true mastery in arboriculture by improvising a great presentation on trees, how important and present they are in our lives. Halfway through I croaked ” Whats in the bag?” and he pulled a small white spruce plug out of the paper bag he was holding. The children were ecstatic and without missing a beat he held the tree up side down and asked ” Do we plant a tree like this” to a gang shout reply of ” No” they all replied, flipping the tree. ” How about like this?”,the tree was now right side up and all agreed that “Green on Top” was the way to plant. So how do we go from this simple consensus to over half the trees in the average landscape being planted to deep?

The simple truth is if I you walked out your door and found a planted tree it would more than likely be planted too deep. At the mall,shopping center, park or many of my clients properties there are no shortage of these buried alive trees.

Trees grown in nature from seed are rarely planted to deep. Flooding, landslides and wind sedimentation can cause tree burial but it’s rare. In our landscapes the most common culprit is planting too deep and settling after planting.

Trees almost universally flare out where the roots differentiate from the trunk tissues.

This basal flare should be your clue to correct planting depth. The flare should never be completely buried and should generally be at the surface or just slightly above. This translates to a centimeter or half inch or less above the surface of the soil. If you see a tree that looks like a pencil coming out of the ground, strait with no flare at the base it is likely planted too deep. Trees want to grow roots in a downward direction, this is called geotropism and ensures roots remain in the ground and not heading to the sky.

The process of planting a a tree or shrub often starts with a hole in the ground that is more suitable for a fence post or pit barbecue than a plant. Trees do best if planted in shallow lens like planting sites that are wider than deep. Care must be taken in most soils not to glaze the outer edge of the planting site by packing it while shoveling. Once you are done take the side of the shovel and break up the hard polished soil so the roots can easily penetrate it. If the tree requires staking once planted do so loosely and be sure to have a plan in place to come back and remove the stakes and wires once the plant has settled. If in doubt when planting trees contact your ISA Certified Arborist they are the go-to experts on tree planting and care.

* Brad Gurr is an I.S.A. Certified Arborist and Plant Health Care Specialist dedicated to the care and preservation of trees. For more information on this subject or any plant health care related questions please feel free to contact on line at gurrb@yahoo.com.

Brad Gurr, “Dedicated to the Care and Preservation of Trees”

Barbara Bodnar, Your Westchester, Putnam and Dutchess County New York Real Estate Resource

Spring is in the air.

Spring has always been a hot time in the real estate market, especially in May.  School is ending, the weather’s not so dreary anymore and people are looking for a change.  That’s why more buyers step out to search for a new Westchester, Putnam or Dutchess County home in spring than any other time of the year.  The more buyers there are in the market, the more likely your home will be viewed by those buyers.  You also have the best opportunity to get good offers on your home when there are more buyers interested in it.

Interest rates have steadily been increasing over the last few months.  When interest rates increase even by 1/4%, there are fewer buyers who are able to qualify for a mortgage.  Placing your house on the market now means that buyers can take advantage of current lower interest rates before the possibility of them rising later.  In turn, when you go to purchase your next Westchester, Putnam or Dutchess County home, you will be subject to the interest rates available at that time.  It is important to evaluate and optimize your financial plan to take into consideration the effects of proposed tax increases, operational/energy costs and the inflation costs of moving.  Consult your trusted tax and mortgage advisors.

Mortgage companies are becoming more stringent with their lending standards.  The days of getting “creative” to get a buyer qualified for a mortgage are over.  The old tried and true methods remain: if you have a decent down payment (special loan programs may apply with varying down payments), good credit and a steady income, you will most likely be approved.  As lenders tighten their standards and the government mulls over setting down stricter guidelines for mortgage companies, it will be harder (but not impossible) for buyers to get a home loan.

Why sell now?  Putting your Westchester, Putnam or Dutchess County home on the market now could mean a much more successful transaction, with a larger pool of buyers and possibly better group of offers to choose from.  As always, consult with your trusted, experienced Real Estate professional as well as your tax, legal and financial advisors.

Barbara Bodnar, Your Westchester, Putnam and Dutchess County New York Real Estate Resource

RENTING
Positive - When you rent a home, you have little to no responsibility for its maintenance.  If something goes wrong, you can contact your landlord or Property Manager to come take care of it.  The cost for this is something that is added into your rental fee.  It is also much easier to move out of a rental unit since you don’t have to sell your Westchester County property before you move on to another one.  Finally, the only money you typically have to come up with to move in is the first month’s rent and a security deposit.  You don’t have to provide any closing costs, home-buying fees or property taxes.

Negative – On the other hand, there are several negative aspects of renting a home instead of owning it.  Renters receive absolutely no tax benefits.  No matter how long you live on a property, you will never gain equity in the home.  You have no control over how much your rent will increase over time (and it will at least every year, depending on your lease/rental agreement).  When there is a problem with your plumbing, broken locks or electrical system, you have to wait for the homeowner or property management company to take care of it.  This is just one of the reasons that it is important to have a clear agreement regarding repairs as part of your lease.  Also, if you have pets, they may require an extra security deposit if they are even allowed at all.  Landlords may require a co-signer or extra security if there are credit issues.

BUYING
Positive - When you own a Westchester, Putnam or Dutchess County home, you can build up equity over the entire time you live there, providing your home increases in value and continue paying down your loan.  Homeownership provides a sense of security and stability for both you and your family, according to some recent studies.  You can remodel, re-landscape or repaint to your heart’s content without anyone else’s permission, except if you live in an HOA situation.  You don’t have to rely on anyone else to take care of problems that may arise, such as plumbing, electrical or other repair issues.  A portion of all the interest paid on your mortgage as well as your real estate taxes are tax deductible.  Of course, you should always make sure to check with your tax accountant to find out exactly how much of these are truly tax deductible.  When you rent, none of your monthly rental fee is tax deductible.

Negative - Being a homeowner means you take on the fiduciary responsibilities of owning a home.  This includes paying for maintenance and repairs on your home and paying for your property taxes (at least a portion of which, again, are tax deductible).  If you cannot pay your mortgage note, you face the possibility of losing your home to foreclosure.  When you decide to move out of your Westchester, Putnam or Dutchess County home, you will need to sell it before you can buy another one.  This means that you can’t just pick up and move out like you could when you rent.  Of course, if you are relocating as part of your business, you may be entitled to certain benefits…perhaps making your move somewhat easier.  This is on a very individual basis and requires consultation with your relocation specialist.

Please weigh these pros and cons of buying a home vs renting one when deciding whether you want to continue paying rent or want to invest money in a new Westchester, Putnam or Dutchess County home.  When you decide to buy a new property, please feel free to contact me.  I’m always happy to help.  Always consult your tax advisor, attorney and financial planner if available.

Barbara Bodnar, Your Westchester, Putnam and Dutchess County New York Real Estate Resource

* Reprint courtesy of Brad Gurr

While you may not be able to grow sycamores or ginkos in your garden, some understanding of the complexities of tree gender expression may help to avoid messy problems in your yard.

I used to enjoy visiting a friend’s verdant garden in Brentwood. She would walk around pointing out the new trees and shrubs assigning genders more or less randomly. ” That viburnum she’s not happy, he’s shading her out” and then my hostess would point up to the large box elder that towered over the viburnum. Judging by the seeds on the box elder I knew this wasn’t entirely true. When in this situation there is much to be learned by simply listening. After a few visits I discovered that more than assigning genders, my host was personifying the trees as they were literally part of her family.

Trees express gender in a variety of ways. Typically genders are assigned by the presences of male or female flowers. Male flowers produce pollen and female flowers produce seeds. If it were that simple this would be a very short article.

Flowers on trees and shrubs can be male, female or both. In which cases the plant would be better referred to as an “It”. To further complicate matters some species of trees have individuals with only male flowers, clearly “He” trees. The same species will have trees with only female flowers, clearly ” She” trees. This same species may have a small percentage of trees that have male and female flowers on the same individuals, clearly “It” trees. Given that this may account for up to 15% of the individuals of the species it is clearly not a random mutation, rather a part of the overall genetics of the species.

While this may be a surprise, you won’t have to go far to find these strange exotic trees.

Ash trees, maples, and yes sycamores all have this type of gender expression. It can be a nuisance and even an major problem if you have a seed bearing tree in an area where the seeds are not welcome. Some trees, like crab apples can be down right dangerous when they are to close to walks or patios. Slipping and falling on decomposing apples can be more painful than getting stung by a wasp disturbed from its apple sauce dinner. If you have ever had the misfortune of stepping on the ripe fruit of a ginko tree you will remember the pungent odor. Fortunately plant breeders have used their knowledge of plant anatomy to develop varieties that are based on male cultivars.

This ensures that you have the landscape tree you want without the seeds that may cause trouble. “Baron” maple is one example of a seedless male cultivar of Box elder.

If you are planning on planting trees this spring, consult your certified arborist they will help insure you get the best tree for your location.

* Brad Gurr is an I.S.A. Certified Arborist and Plant Health Care Specialist dedicated to the care and preservation of trees. For more information on this subject or any plant health care related questions please feel free to contact on line at gurrb@yahoo.com.

Brad Gurr, “Dedicated to the Care and Preservation of Trees”

Barbara Bodnar, Your Westchester, Putnam and Dutchess County New York Real Estate Resource