Market

Market

What $705,000 Will Buy You in Ossining

If your budget is in the $700,000 range and you’re looking in Ossining, you’ll be pleased to know that you can still buy a 4 bedroom home on over an acre like the one we just closed on this week in town. 5 Ridgeview drive has 4 bedrooms, 3 baths, and a 1.6 acre lot. […]
Commentary, Market

How Can We Solve the Real Estate Inventory Shortage?

My last two posts have addressed the fact that despite the higher interest rates, it remains a seller’s market because of low inventory of listings. I wrote about why inventory is so low yesterday, and today I’m going to pretend I’m the HUD secretary and Housing Emperor (a position I made up but I’d love […]
Market

Why is Inventory so Low?

Yesterday I wrote about the low inventory and the challenges buyers face with supply not measuring up to demand. I did not address the reason why buyers have so little to choose from, and that’s what I’ll attempt to tackle. There is no single factor for such a dramatic shortage. It is more of a […]
Commentary, Market

How Slow is the Market in December and the Holidays?

The cyclical nature of the market is a long discussed topic. It’s no secret that the traditional “busy season” is the spring, with the key word “traditionally.” In typical market cycles, the summer remains active, transactions tail off in the autumn, and things get quiet around the holidays and winter time. But we aren’t in […]

Market What $705,000 Will Buy You in Ossining If your budget is in the $700,000 range and you’re looking in Ossining, you’ll be pleased to know that you can still buy a 4 bedroom home on over an acre like the one we just closed on this week in town. 5 Ridgeview drive has 4 bedrooms, 3 baths, and a 1.6 acre lot. […]

Commentary How Can We Solve the Real Estate Inventory Shortage? My last two posts have addressed the fact that despite the higher interest rates, it remains a seller’s market because of low inventory of listings. I wrote about why inventory is so low yesterday, and today I’m going to pretend I’m the HUD secretary and Housing Emperor (a position I made up but I’d love […]

Market Why is Inventory so Low? Yesterday I wrote about the low inventory and the challenges buyers face with supply not measuring up to demand. I did not address the reason why buyers have so little to choose from, and that’s what I’ll attempt to tackle. There is no single factor for such a dramatic shortage. It is more of a […]

Commentary How Slow is the Market in December and the Holidays? The cyclical nature of the market is a long discussed topic. It’s no secret that the traditional “busy season” is the spring, with the key word “traditionally.” In typical market cycles, the summer remains active, transactions tail off in the autumn, and things get quiet around the holidays and winter time. But we aren’t in […]

Market What Can You Buy in Irvington for $799,000? Prices are up these days, but $799,000 was all a buyer paid on our recent closing on 21 Beechwood in the Village of Irvington. The home was a fixer upper, and that is indicative of local values for the condition. “Bring your contractor! Classic mid century center hall colonial on a cul de sac with […]

Commentary What can you buy in Mahopac for $305,000? Prices are up, but lower cost homes are still possible if you don’t need lots of bedrooms, like the home we just closed at 27 Jackson Road, just a few hundred yards from Kirk Lake. “Great opportunity to own a unique charmer with Lake Rights seasonal views of Kirk Lake in a secluded, wooded setting. […]

Commentary Just Because the Market is “Hot” Doesn’t Mean Real Estate Agents Have it Easy I don’t think I’ve seen the following thought written anywhere lately, but I’ll say it: The average real estate agent has never worked harder than they have in this market. That seems contrary to the public perception that rising prices and a “hot” market is when agents have it easy, but extreme conditions aren’t conducive […]

Market No, Rising Mortgage Rates Will Not Crash Property Values I’m relatively old. I remember Nixon resigning office, Tang commercials, news stories on the war in Vietnam, and lots of other things from when Kitchens were green and gold. I remember when mortgage interest rates topped 20% in the early 1980s, and my father telling my mother how rates didn’t matter, payment amounts did. He […]

Market How Low is the Housing Inventory? Pretty Bloody Low, That’s How Low While making a training video on market reports for the agents this past week, I clicked on an old market report I wrote in November 2011 for Ossining. Among other things, I noted that there were 119 single family homes available for sale in the school district at that time. In working on current data, […]

Market What Does $751,000 Buy In Briarcliff Manor? I recently closed on this listing for over $50,000 over asking price. This is an example of how values have grown in the area. The description of the home in the MLS is as follows: “This is the village of Briarcliff Manor lifestyle you’ve sought in a 5 bedroom split that lives like a colonial. […]

Market What $568,000 Buys in Briarcliff Manor We were actually gratified to list and sell this property after selling it to the owners a few years prior. They did benefit from appreciation, selling for $568,000 after purchasing it for $395,000 7 years before. As described in the MLS: This is a adorable 3 bedroom, 2 bath ranch home on nearly half an […]

Market What $575,000 Buys in Briarcliff Manor $575,000 buys an awfully nice home these days, like the 3 bedroom, 2 bath split we recently closed for a seller client on Leawood Drive. As the MLS described: This is a TRUE GEM in a four cul-de-sac neighborhood of about 70 houses! Besides being completely renovated and move-in ready, what sets this house apart […]

Market What Does $513,000 Buy in Yorktown? I’m so glad you asked! If your budget is in the low 500’s, you might like a home like the one we just closed on Avis Court, a 3 bedroom 2 bath split on nearly 3/4 of an acre on a cul de sac. The final sale price was $513,500. Best of luck to my […]

Market What Can I Buy in Briarcliff Manor for $625,000? If your budget is $625,000 you might be able to buy a home like the raised ranch we recently closed on Country Club Lane with a Hudson River View. As described in the MLS: Your opportunity to own a home with breathtaking year-round views of the majestic Hudson from the living room, dining room, master […]

Market What $560,000 Buys in Briarcliff Manor, NY $560,000 will buy you a mighty nice 3 bedroom 3 bath split on a dead end like the one we closed on last month. As described in the MLS: This wonderful, pristine house on a quiet cul-de-sac is ready for you to move right in! With a three-season Sunroom and HUGE basement area to make […]

Market What $625,000 Buys in White Plains If you like a 3 bedroom, 2 bath Tudor styled cape on a landscaped lot with a detached 2 car garage, this was the place that we closed on last week. The MLS description: Tudor-inspired Cape with oversized yard & a fantastic two car detached garage with loft on a quiet street near everything. Solar […]

Commentary A Tale of Two Real Estate Markets- in the Same Place It might seem contradictory to say there are two distinct markets in the same geographical footprint, but what we’re seeing in Westchester and the surrounding counties is in fact two entirely different markets. I know that there are tons of market reports out this time of year (the beginning of Q2, that is), but I’ll […]

Commentary Waiting for the Flowers? Bad Idea. The spring real estate market in New York starts January 2 for a variety of reasons. The holidays are behind us, NYC buyers get an early start, and often, those who need to sell know that if they wait too long there will be a smaller selection from which to buy if they don’t sell […]

Market What $649,000 Can Buy in Briarcliff Manor, NY $649,000 just bought a great 5 bedroom 3 bath Chilmark colonial like the one we just closed on Meadow Road. As described in the MLS: Sought after Chilmark colonial on a fantastic half acre just a stone’s throw from Chilmark Park. Unbeatable lifestyle: large living room with fireplace and bay window, formal dining room, eat-in […]

Industry News News12 Interview on the NY Mansion Tax I was interviewed on News 12 this past Sunday on the “mansion tax,” a 1989 law that adds a 1% tax on properties sold for $1 million or more. In 1989, one million dollars probably did but an actual mansion, but in 2018, in a county with a median home value pushing $700,000, it doesn’t. […]