Tag Archives: Westchester Homes for Sale

Westchester Homes for Sale

Westchester sales and prices down | North Salem Real Estate

Westchester sales down 5.2%

WHITE PLAINS—Home sale prices were up sharply in the third quarter in the four-county market area of the Hudson Gateway Association of Realtors, with the exception of Westchester County where sales prices were relatively flat as compared to a year earlier.

Sales volume was off marginally throughout the region, with overall third quarter sales down 5.2% in Westchester; 1.8% in Orange and 1.2% in Rockland, while Putnam County’s sales numbers were flat with an increase of 0.3%.

Market results were mixed depending on product type and location. Realtors interviewed by Real Estate In-Depth said that while some negative market influences, specifically the cap on SALT deductions, low inventory and higher interest rates, may be impacting some buying decisions, it is way too early to tell just what real impacts they will have on the market going forward.

Westchester County posted a third quarter median sale price for a single-family home of $679,000, which was slightly lower than the third quarter of 2017 ($680,000). The median sale price for a single-family home in Putnam was $360,000, up 5.9% from the third quarter of 2017; the median sale price in Rockland was $475,000, up 6.7% and the Orange County median was $275,000, up 7.8%.

Hudson Valley Home Sales—Third Quarter 2018
County                 Change from 2017
Putnam                +0.3%
Rockland             -1.2%
Orange                -1.8%
Westchester       -5.2%

Editor’s NoteFor further coverage, including region-wide home sales statistics

Paul Breunich, president and CEO of William Pitt and Julia B. Fee Sotheby’s International Real Estate, said in connection with the Westchester County market that the declining sales numbers, while noteworthy, are not a sign of a troubled market. He insisted that the market appears to be in transition and that most market observers expect home sales to fall between 4% to 6% for the year countywide.

“The market is in an adjustment period and is in flux,” Breunich said. “With what is going on in the economy—the stock market, GDP, (low) unemployment and consumer confidence through the roof, that is all pointing to a very strong, healthy real estate market, but that is not being reflected in our marketplace, yet.”

Breunich said that he is concerned about consumer market perceptions of a severe downtown in Westchester home sales based on erroneous sales numbers released recently by a local brokerage firm that garnered national media coverage.

“These news stories have contributed toward an exaggerated negative narrative about the state of the real estate market in Westchester, spreading misinformation and miseducating consumers,” Julia B. Fee Sotheby’s stated in its third quarter market report on Westchester County. “The actual picture is dramatically different, according to our own analysis, and varies greatly by town and price range.”

He noted that the market is seeing a decline in sales, but not double digits as was erroneously reported in the press. He also said that some locations are stronger than others both in terms of home sales volume and pricing.

“You have to look at the reality of it,” Breunich said. “The market is still down five to six percentage points. That is not something to pull the fire alarm on about, but it is something to be aware of.”

He added that the federal tax reform law and the cap on SALT deductions might be having some impact on demand. However, there are other factors that influence demand, such as high consumer confidence and the strong economy, for example, and the market is working through all the factors, both positive and negative.

While bullish on the future of the Westchester County residential market, Breunich said the real estate market is no longer booming, but is in transition. He said it is too early to tell the true impact of federal tax reform and added that the first indications of its effect on the market will likely show up in the next six months or so when people file their taxes in the spring of 2019.

Joseph Rand, managing partner of Better Homes and Gardens Rand Realty, said the federal tax reform might be having a small impact on the very high end of the market where the loss of deductibility for mortgage interest and local taxes hits the hardest.

He noted that price appreciation was more pronounced in the lower‐priced markets.

In terms of the loss of the SALT deductions, he said, “We’re talking about a marginal, not a major, impact. Prices aren’t rising at the rate they are in the lower‐priced markets, they’re basically flat, not falling.”

A plus for the marketplace is that inventory levels are starting to respond to rising prices, noting that for the first time since 2012, inventory levels went up in the third quarter.

Rand noted the what is happening region wide is that after years of decline, single-family inventory was higher in almost every county in the region, stabilizing near that six‐month level that usually signals a balancing market. This market phenomenon occurs when demand is strong, and supply stays steady (or goes down) and prices go up. In response to the rising prices, eventually new inventory comes onto the market, he explained.

“Going forward, we believe that the appetite in the market can handle both the impact of tax reform and this increased inventory while still driving continued price appreciation,” Rand said. “With strong economic conditions, relatively low‐interest rates (and the specter of rate increases on the horizon), and pricing still at attractive 2004‐05 levels, we expect a robust market through the end of the year.”

Brokerage network Westchester Real Estate Inc. in its third quarter market report on Westchester County also discussed the positive and negative economic and regulatory forces affecting the housing market.

The firm concluded that with those forces factored it, it believes, “Westchester properties will always remain in high demand based on our proximity to NYC and fantastic quality of life. While we may see pullbacks or shifts at times, our housing market possesses innate strength and resilience. Prices are not decreasing, home sales are still strong, and Westchester’s real estate market is just fine!”

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Why Westchester homes are getting battered by “dramatic price reductions | Pound Ridge Real Estate

(Credit: Daniel Case, Pixabay)

Westchester residents, many trying to avoid the hefty tax bill that 2018 promises, are finding themselves in an unforgiving buyers’ market.

In Scarsdale alone, prices dipped 5 percent in the first six months of 2018, while Mamaroneck saw a 13 percent drop, according to Bloomberg. The number of homes selling in the county fell 18 percent in the second quarter of 2018, with those asking between $1.5 million to $3 million faring the worst.

The major push factor for sellers to plow ahead despite plummeting prices is the GOP’s new tax law which slapped a $10,000 cap on state and local property tax deductions, which means homeowners in areas like Westchester, where property taxes can run up to $50,0000, are feeling a serious crunch.

As a result, the number of homes for sale in Westchester has been increasing: in late June, inventory was up 5 percent compared to last year and, for homes priced between $2-2.5 million, listings were up 26 percent.

Buyers are feeling no sympathy for homeowners who bet on turning a neat profit when they decided to sell off their prestige address. Compass broker Angela Retelny says her clients tell her “‘Look, I’m not going to spend more than $35,000 in taxes.’ … Houses are just being dismissed, even though they’re superior homes, and they have to be reduced — because their taxes are just way too high for the price range.”

With buyers taking a hard line, sellers are being forced to bend, according to her. There are “dramatic price reductions every single day — every hour, pretty much,” she told Bloomberg.

Yorktown Heights property attorney Matthew Roach recalled one client who sold his home of 25 years immediately after the GOP’s tax law was passed. His home had property taxes over $50,000 and he was planning to move to Brooklyn, pay $10,000 in rent and never buy another home.

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Why Westchester homes are getting battered by “dramatic price reductions”

Westchester Parks this weekend | Westchester Real Estate

WESTCHESTER COUNTY, NY — Looking for something to do for the weekend? Here’s a list of events at Westchester’s public parks.

Friday, June 16
Playland Park, Playland Parkway, Rye – (914) 813-7010
$15 Friday Nights – 5 p.m. – 10 p.m.
All rides $15 from 5 p.m. to closing. Parking fee applies.

Croton Point Nature Center, Croton Point Avenue, Croton-on-Hudson – (914) 862-5297
Riverlovers Pot Luck Supper – 6 p.m. – 8:30 p.m.
Sign up to help out at the Clearwater Festival. Info at Riverlovers.org.

Muscoot Farm, Route 100, Somers – (914) 864-7282
Muscoot Movies – 8:30 p.m. – 10 p.m.
Enjoy a late night movie in the historic barn. Title to be announced.

Saturday, June 17
Edith G. Read Wildlife Sanctuary, Playland Parkway, Rye – (914) 967-8720
Volunteer Corps Work Day – 10 a.m. – 2 p.m.
Invasive plant removal, trail maintenance, beach clean-up and more.

Trailside Nature Museum at Ward Pound Ridge Reservation, Routes 35 and 121 South, Cross River – (914) 864-7322
Orienteering for Kids – 1 p.m.
Children ages 10 to 12 can learn how to find their way through guided waypoints along the trail. Registration required.

Cranberry Lake Preserve, Old Orchard Street, North White Plains – (914) 428-1005
Orienteering Scavenger Hunt – 1 p.m. – 2:30 p.m.
Find hidden flags at the preserve by using only a map and compass.

Marshlands Conservancy, Route 1 (Boston Post Road), Rye – (914) 835-4466
Volunteer Work Project: Removing Tidal Debris from the Salt Marsh – 1 p.m. – 3 p.m.
Bring work gloves; hand tools provided. Great for any type of service credit hours.

Saturday and Sunday, June 17 and 18
Lasdon Park, Arboretum and Veterans Memorial, Route 35, Somers – (914) 864-7268
Opening of the New Lasdon Conservatory: “The Rainforest: Tropical Treasures” – 10 a.m. – 4 p.m.
Grand opening of the new conservatory with tours, entertainment, face painting, food for sale and more. Admission: $10 adults, $5 children. Info at LasdonPark.org.

Croton Point Park, Croton Point Avenue, Croton-on-Hudson – (914) 864-5290
Clearwater Festival – 11 a.m. – 8:45 p.m.
Music and environment festival. Tickets at Clearwaterfestival.org.

Muscoot Farm, Route 100, Somers – (914) 864-7282
Art Show – Noon – 4 p.m.
Works by local artist Hope Friedland on view in the Main House Gallery on weekends through June 25.

Sunday, June 18
Muscoot Farm, Route 100, Somers – (914) 864-7282
Farmers Market – 9:30 a.m. – 2:30 p.m.
More than 20 vendors offer fresh produce and local food products every Sunday through October. Vendors at muscootfarm.org.
-and-
Big Equipment Day – 1 p.m. – 3 p.m.
See the equipment that is used to get some of the biggest jobs done at the farm.

Bronx River Parkway, White Plains to Yonkers – (914) 995-4050
Bicycle Sundays – 10 a.m. – 2 p.m. (Weather permitting)
Parkway closes to vehicular traffic for the exclusive use of cyclists, walkers, joggers and those with strollers, from the Westchester County Center to Scarsdale Road, a 13.5-mile loop. Parking at the County Center. Also 6/25.

Ridge Road Park, 287 Ridge Road, Hartsdale – (914) 946-8133
Portuguese-American Heritage Festival – (914) Noon – 7 p.m.
Music and dance, arts and crafts and food vendors.

Playland Park, Playland Parkway, Rye – (914) 813-7010
Father’s Day at Playland – Noon –10 p.m.
Dads ride free, families pay $15 for unlimited rides all day.

More info at parks.westchestergov.com.

In the Horse Race for Millennials, is Renting Gaining on Buying? | Waccabuc Real Estate

Apartment rents are rising rapidly, up 3.5 percent in 2015, then they are expected to moderate to 3.0 percent in 2016 and 2.7 percent in 2017, according to the Urban Land Institute.  But home sales prices are rising even faster, tipping the scales of the rent vs buy equation towards rentals in the dollar for dollar comparisons Millennials face, according to the latest national housing market index produced by Florida Atlantic University and Florida International University faculty.

As of the end of the first quarter of 2015, the housing market in the U.S. and all 13 cities in the index are trending either closer to renting being the superior option or strictly favoring renting over purchasing a home.

Three of the hottest real estate markets in the nation, Dallas, Denver and Houston, are clearly in rent territory, with property pricing out-pacing rents, meaning buyers should proceed with strong caution.

Seven more cities (Miami, Honolulu, Los Angeles, Pittsburgh, Portland, San Francisco and Seattle) are at or near the indifference point between ownership and renting. Here the spread between monthly rent payments and ownership payments appears to be at a point where neither ownership nor renting is statistically favored.

Four cities (Chicago, Cincinnati, Cleveland and Detroit) remain in strong buy territory with scores that have historically favored wealth accumulation through home ownership.

 

read more…

 

http://www.realestateeconomywatch.com/2015/06/

London Housing Prices Stoke Frenzy, Alarm Bank of England | Armonk Homes

 

Rohit Sabhlok said he’s upset he lost a bidding war on a London house. Katy Barnes bought her home to avoid rising rents, while Holly Martin purchased hers as an investment. Both are hooked on a website that shows their property values soaring. Kay Durrant used her home’s growing equity value to pay bills.

Welcome to London’s frenzied housing market, where low mortgage rates and a dearth of properties for sale have sent prices rising in a year by an amount almost twice the average annual London wage. From centuries-old pubs to Mayfair clubs to the halls of Parliament, London is abuzz with talk of escalating values, foreign buyers with piles of cash and half-built garages selling for vast sums.

London’s housing boom “has become a mainstay of conversation,” said Paul Stenson, an asset manager at Dunbar Assets Plc as he sipped a pint of Aspall cider at Ye Olde Cock Tavern on Fleet Street, a pub dating back to 1549. “Never mind the hackneyed view of it being the conversation of dinner parties, it’s gone beyond that. It’s like the elevator music that’s constantly on play.”

 

read more…

 

http://www.bloomberg.com/news/2014-05-19/london-housing-talk-of-ye-olde-tavern-alarming-carney-mortgages.html

Down to Earth Farmers Market | Katonah NY Real Estate

 

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Mamaroneck: FULL Market for Last Saturday of the Season;
Bombay Emerald Chutney Co & Sale on Local Meats in Ossining
+ More
May 1st-7th, 2014

DowntoEarthMarkets.com
Lettuce_MSP
What’s New and On Sale This Week

2-3 Pound Whole Chickens
Yellow Bell Farm

Beef Kabob Cubes
SALE: $1.50 OFF per pound
Reg: $11.50/lb; NOW $10/lb

Kiernan Farm

Frozen Kofta, Rajma,
Roti Roll, Saag, & Samosa
Bombay Emerald Chutney Co.


Gluten-Free Apple Pies
and Tarts

Meredith’s Bread

Gluten-Free Reverse
Chocolate Chip Cookies

Meredith’s Bread

Pork Ribs – Country-Style
SALE: $1.50 OFF per pound

Reg: $10/lb; NOW $8.50/lb

Kiernan Farm


Spelt Bread
Made with 100% organic spelt and whole wheat flours

Orwashers Bakery

Wild Ramps
Yellow Bell Farm

Wild Ramps, Ramp Pesto &
Ramp Sausage

Stone & Thistle Farm


Click on a Market to see all vendor and event details…

Westchester
County

Mamaroneck
*LAST DAY THIS SATURDAY*

Saturdays thru May 3rd
9:00 am to 1:00 pm


Rockland
County


Ossining

OPEN ALL YEAR AROUND
Saturdays
9:00 am-1:00 pm


Larchmont

OPENING DAY: MAY 10th
Saturdays
8:30 am-1:00 pm

Piermont

OPENING DAY: MAY 11th
Sundays
9:30 am-3:00 pm

L
Croton

OPENING DAY: MAY 11th
Sundays
9:00 am-2:00 pm


Rye

OPENING DAY: MAY 11th
Sundays
8:30 am-2:00 pm

Spring Valley

Coming in July

Tarrytown/Sleepy Hollow

OPENING DAY: MAY 24th
Saturdays
8:30 am-1:00 pm


New Rochelle

OPENING DAY: JUNE 20th
Fridays
8:30 am-2:30 pm


Headed to the city soon?

Visit a Down to Earth
Farmers Market in NYC!

Announcements
Next Weekend – Mother’s Day Weekend – May 10th & 11th

We’re getting ready to open four farmers markets over Mother’s Day Weekend:
Larchmont, Rye, Croton-on-Hudson, and Piermont. These openings are earlier than in years past, and to celebrate the timing with Mother’s Day, we’re hosting “Make Mom a Card!” events at the markets. Ossining’s Down to Earth Farmers Market will have a creation station for Mother’s Day cards, too. We’ll have great music as well. Visit the Down to Earth Markets Calendar for full details.

Stay tuned to all market happenings via our Down to Earth Markets Facebook page
and follow us on Twitter @DowntoEarthMkts.

It Takes a Village to Raise a Food Company:
The 2014 Food + Enterprise Entrepreneur Pitch Competition
FBF-Radicle
Christopher Washington of Radicle Farm, a hydroponic farm in urban New Jersey

The reason why more and more people want to buy local food may be as simple as this: It is made by local people. And they have stories to share. Last week, we attended the 2014 Food + Enterprise Pitch Competition, hosted by Slow Money NYC and the Food Book Fair. Playfully dubbed “The Shark Tank for Foodies” by Derek Denckla, the Chair of Slow Money NYC, it was really a casting call for ten inspiring entrepreneurs who deserve tremendous support.

One by one, small business owners described his or her company to the panel of judges who included Taylor Erkkinen, Co-Owner, The Brooklyn Kitchen; Michael Hurwitz, Director, NYC Greenmarkets (GrowNYC); Liz Neumark, CEO, Great Performances Catering, Katchkie Farm; Elly Truesdell, NE Regional Local Forager, Whole Foods; and our very own Jon Zeltsman, President, Down to Earth Markets. Emilie Baltz expertly moderated the panel.

The first entrepreneur, Arshad Bahl, presented Amrita Health Foods, his plant-based energy bar company. The bars are raw, vegan, grain-free and free of the 8 major allergens. Yet, while those words can seem like familiar chorus, his story made them ring clearly. When his son was two-years old, he was diagnosed with autism. In response, he and his wife drastically changed their son’s diet, and now at age 9, their son is off of autism spectrum. Their son’s transformation is the catalyst behind their company.

Along with way, we also heard from entrepreneurs as varied as a farm on Staten Island, purely dedicated to Mexican heritage foods, to Lindsay Jakubowski of Kriemhild Dairy Farms who told the audience that last year butter sales exceeded margarine sales for the first time in 40 years.

After each presentation, the judges offered their feedback as well as a score on the scale of 1 to 5. A score of 1 meant “not ready to fund today” to a score of 5 meaning, “ready to fund here and now.” The first 5 of the night went to Mark Jaffe of Fresh Connection, a service that aggregates food from local farms in upstate New York for delivery to wholesale accounts and restaurants in the city. His work focuses on a weak link in the local food chain: “last mile delivery.” Jaffe’s execution of a simple, yet sorely needed idea won the competition with the highest score from the judges. As he collected his $500 honorarium in the form of a giant check, he said he was thrilled to receive the award on behalf of truck drivers who are his “unsung heroes.”

After last week’s event, we’ve all got a lot of heroes to sing about.

Day Vendors This Week

Mamaroneck

Calcutta Kitchens
Flourish Baking Company
Hudson River Apiaries
Mortgage Apple Cakes
Robinson & Co. Catering Company (British-inspired prepared foods to go)

Ossining

Bombay Emerald Chutney Company


Down to Earth Markets 173 Main Street Ossining, NY 10562 Phone: 914-923-4837
DowntoEarthMarkets.com

Creating a big bang in the Los Feliz real estate market | Pound Ridge Real Estate

 

Twilight”  film series vampire Robert  Pattinson found a warm body to pay $6.375 million for his Los Feliz  home. Jim  Parsons of “The  Big Bang Theory” is the new owner.

The 1922 Spanish Colonial-style house has a formal entry, a library/study, a  den, three bedrooms, 3.5 bathrooms and 4,026 square feet of space in two  stories. Antiqued tile and stone, hand-carved wood and stenciled ceilings  maintain a vintage vibe.

The 1.5-acre sloping lot, enclosed by walls, features a lagoon-style swimming  pool, waterfalls and fountains. Stunning terraced gardens follow the hillside  down to the home, which has cityscape views.

The property was purchased by Pattinson in 2011 for $6.25 million. An earlier  owner of the house was Lakers great Kareem Abdul-Jabbar.

Parsons also has listed his old Los Feliz house.

Priced at $1.85 million, the 1942 traditional home sits on a hillside with  city views. The 2,827 square feet of open-plan living space on two levels  includes a formal entry, an office, a breakfast area, three bedrooms and four  bathrooms.

There are fireplaces in the living room and dining room and on the entry  patio.

The actor bought the home in 2009 for $1.3 million.

Pattinson, 27, starred in the 2012 films “Cosmopolis”  and “Bel  Ami.” He will be in the upcoming films “Maps to the Stars” and “The  Rover.”

Parsons, 40, has won three Emmys and a Golden Globe award for his work on the  sitcom, which premiered in 2007. He will be in the upcoming TV movie “The Normal  Heart.”

David Gray of Partners Trust Beverly Hills was the listing agent for  Pattinson. Ronald Shore of Keller Williams represented Parsons.

Shore and Samuel Bernstein, also with Keller Williams, are Parsons’ listing  agents.

http://www.latimes.com/business/realestate/la-fi-hotprop-20140202,0,3518370.story#ixzz2sUAyeieI

 

http://www.latimes.com/business/realestate/la-fi-hotprop-20140202,0,3518370.story#ixzz2sUAtfWf6

The best and worst housing markets in America right now | Bedford Hills Homes

 

Valuation services provider Pro Teck releases a monthly home value forecast listing the top 10 real estate markets, ranked by the impact of foreclosure sales on localized housing recovery.

It’s somewhat of a different approach, to hinge a data call on distressed properties, but nonetheless exceedingly fascinating.

Right now, in America, according to Pro Teck, Long Island, New York, leads the rankings of hottest real estate markets.

“Many factors account for Long Island’s strong market, including foreclosures making up an inconsequential 2.18% of sales and available housing inventory at only 3.63 months,” said Tom O’Grady, CEO of Pro Teck. “Looking at the extended forecast, we see Long Island reaching peak highs again within five years.”

The following top ten lists highlight the best and worst metros in January with regard to a number of leading real estate market indicators, including: sales/listing activity and prices, months of remaining inventory, days on market, sold-to-list price ratio and foreclosure and REO activity, according to Pro Teck.

 

January’s top ten:

Nassau County-Suffolk County, N.Y.

Los Angeles-Long Beach-Glendale, Calif.

Ann Arbor, Mich.

Anaheim-Santa Ana-Irvine, Calif.

Oxnard-Thousand Oaks-Ventura, Calif.

San Diego-Carlsbad, Calif.

San Luis Obispo-Paso Robles-Arroyo Grande, Calif.

Santa Maria-Santa Barbara, Calif.

Ashville, N.C.

Houston-The Woodlands-Sugar Land, Texas

 

 

 

http://www.housingwire.com/blogs/1-rewired/post/28843-the-best-and-worst-housing-markets-in-america-right-now

Considering The Cloud: A Strategic Guide For Business | Cross River Real Estate

 

It’s nearly impossible to turn a page in a business journal these days without seeing an article about the “cloud” or “software as a service (SaaS).” These topics are everywhere you look and a common reason is the impact they have on the bottom line: software as a service often provides a more cost-effective alternative for organizations to achieve their business objectives than traditional packaged applications. But the rising popularity of the cloud isn’t a sufficient reason to retool the underlying technology supporting your business. If you want to win more bids, increase your profitability and keep ahead of the competition, ignoring it isn’t the answer either.

Determining where cloud computing fits in your business and IT strategy is critical for ensuring you’re driving the most value possible out of both capital and operational expenditures and/or equipping your team with the best tools for the job. This whitepaper examines the business advantages of cloud computing, as well as practical barriers facing most organizations, and concludes with advice for implementing an effective solution. Our goal is to help you make pragmatic decisions about deploying a solution (or blend of solutions) that makes sense for your business—whether it’s in the cloud, on-premises or a little of both.

 

http://www.fieldtechnologiesonline.com/doc/considering-cloud-strategic-guide-business-technology-leaders-0001