Pound Ridge NY real estate has 100 homes for sale now. Over the past six months 22 homes have sold in the Pound Ridge market. At that rate, 3.6 per month, Pound Ridge NY real estate for sale has a 27 month inventory.
For these homes to sell prices need to come down 15%. Otherwise we need a large pick up in buyers or a lot of sellers neeed to pull their homes off the market.
Over-priced listings are not selling.
05/31/2011
Bedford Style by Joseph Aboud | Bedford NY real estate
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06/01/2011
Shopping in Bedford Village NY | Homes for sale in Bedford NY
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06/02/2011
Cold storage in Bedford NY real estate | Bedford NY Homes for sale
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06/03/2011
Katonah NY Real Estate sees too much inventory | Katonah NY Homes Sees prices dropping 10%
Katonah NY real estate has 124 homes for sale at this time. Over the past six months 37 homes sold in the Katonah NY real estate market. 6.11 homes have sold per month. Currently there is a 20.29 month supply of Katonah NY homes available.
Home prices will be dropping 10-20% over the next few years. Over-priced homes do not sell. Unless homes come off the market or the number of buyers picks up dramatically Katonah NY home prices will drop.
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Chappaqua NY real estate has 140 homes on the market currently. Over the last six months 38 homes have sold. At that rate there is an unsold inventory of 22.11 months.
Currently Chappaqua has a large over supply of homes for sale. Prices will be coming down another 10-15% over the next few years as they try to work off this huge supply.
There does not seem to be any sign of a big increase in buyers over the near term. If a lot of homes come off the market supply will drop but at the current level prices need to come down significantly.
Real Estate Daily (RED) Alert
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Japanese artist and architect Sensuo Ito will attempt to auction off his 12,000-square-foot Water Mill house situated atop the highest point in the Hamptons, according to J. Sugarman Auction Corp., the company retained to conduct the June 26 auction.
This is Mr. Ito’s second attempt to sell the estate that he designed. Last year, Prudential Douglas Elliman Real Estate listed the property for $10.995 million and attempted to auction off the property. In 2009, the property had an asking price of $30 million. The reserve price for the house was not disclosed, but a spokeswoman for J. Sugarman said interested bidders must provide a refundable $50,000 cashier’s check prior to the auction to bid on the nine-acre property. Ten percent of the proceeds of the sale of the house will go to the Japan Rescue Foundation.
“We are getting a lot of interest,” said the spokeswoman, noting that bids will also be taken online. Mr. Ito plans to move to Japan to embark on humanitarian efforts once the house is sold, she added.
“It’s an interesting and unique property and it needs someone with a vision,” said Jacky Teplitzky, managing director at Prudential Douglas Elliman Real Estate, who handled last year’s auction. “The land is valuable and the house is very secluded, but the downside is that it is inland and does not have access to the ocean.”
Last year, no one bid on the property, said Ms. Teplitzky, adding that the donation component of the latest auction “is a smart move.” The house, located on Noyack Path in Bridgehampton, is Zen Buddhist influenced and features a 40-foot-high glass pyramid structure with stunning views of the Atlantic Ocean and the Great Peconic Bay. It also includes a sunroom and waterfall pool and spa.
