Short sale bargain! Very special home — stone exterior, slate roofed structure with enclosed rear slate patio & detached 2-car garage. Great bones — hardwood floors, 2 fireplaces, tiled entry foyer, huge eat in kitchen, 2 large bedrooms, 2 full bathrooms, & if you need a good garage, this will make your MOUTH WATER. Den or small dining room off kitchen. Home is decorated bachelor style but solid-you’ll see the possibilites. Basement has a fantastic mantle and is ready to be finished. Click on the photo for more information. _______________________________________________________________
J. Philip Serves Briarcliff Manor, Ossining, Croton on Hudson, Pleasantville, Sleepy Hollow, White Plains, Yonkers, Peekskill, Cortlandt, Tarrytown, Yorktown, Montrose, Hawthorne, Thornwood, Valhalla, Hartsdale & all of Westchester County, New York.
Solid 2 bedroom, 1.1 bath townhome style condominium with terrific amenities! Enjoy the stone fireplace, sliders to deck, new 1st-level floors, complex pool & tennis courts. Kitchen has a breakfast bar. 2 parking spaces right in front of the door. Walking distance to Peekskill train station, shopping is close by and highway is in close proximity for commuters. Neat and clean unit awaits you! Homeownership without the headaches! Click on the photo for more information.
J. Philip Serves Briarcliff Manor, Ossining, Croton on Hudson, Pleasantville, Sleepy Hollow, White Plains, Yonkers, Peekskill, Cortlandt, Tarrytown, Yorktown, Montrose, Hawthorne, Thornwood, Valhalla, Hartsdale & all of Westchester County, New York.
Overlooking the Hudson River, Peekskill is the only city of all the municipalities in northern Westchester County. When I was growing up it was where you went to do to the Department of Motor Vehicles office and little else. Today it has a far more vibrant downtown with art galleries, cafes and shopping of all kinds. And the DMV is still there.
I started my company in 2005, and the company’s first closing was on a home in Peeksksill. I remain in touch with my clients. They have done great things to that house. Like many Manhattan dwellers, Peekskill appealed for the nearby Hudson Line train terminal, the vast array of pre war architecture, Hudson River views and the relatively affordable prices compared to much of Westchester. I continue to do business there.
How has the market in Peekskill fared with the declining housing market? According the to data I have from the Westchester-Putnam Multiple Listing Service comparing the first quarter of 2008 for single home sales to quarter 1 of 2009, Peekskill’s market is relatively stable.
Year
# Sales
Average Price
Median Price
2008
16
$ 355,378.00
$ 340,025.00
2009
17
$ 297,959.00
$ 280,000.00
Prices were down about 16% but the transaction total was actually higher in 2009 than 2008 by one for single family homes. There are 69 single family homes actively available for sale in the city. 6 are under contract or pending sale; that is a low number, but at this rate the city has about a year’s worth of inventory on the books. Not bad.
J. Philip Serves Briarcliff Manor, Ossining, Croton on Hudson, Pleasantville, Sleepy Hollow, White Plains, Yonkers, Peekskill, Cortlandt, Tarrytown, Yorktown, Montrose, Hawthorne, Thornwood, Valhalla, Hartsdale & all of Westchester County, New York.
One of the things I have heard in certain precincts is that while the overall market might be bad, some places are insulated from the bad economy and will continue to have a thriving market. One of the places mentioned is nearby Chappaqua, NY. Chappaqua is known for being the adopted home of the Clintons, but it is more than just that. It is a lovely hamlet with manageable proximity to Manhattan (on the Metro North Harlem Train Line & 45 minutes to Grand Central), beautiful homes on large lots, a highly regarded school district, and a charming downtown. So how did Chappaqua’s 1st quarter of 2009 compare with the first quarter of 2008?
Not very well, I am afraid. The following is the MLS data for single family home sales in the entire Chappaqua school district, which includes part of the Mount Kisco mailing address:
Year
# Sales
Average Price
Median Price
2008
20
$1,068,620.00
$ 873,350.00
2009
4
$ 842,375.00
$ 835,000.00
The 21% drop in average price is not particularly shocking; prices are down everywhere. The real eye-opener for me is the severe drop in transaction totals. Even with lower prices, people held onto their wallets.
Here’s the real sobering part. As I type this, there are 133 active single-family listings for sale in the Chappaqua School District. 8 more are under conditional contract and 5 are pending sale. Presuming that none of those deals fall through and all 13 sales close in the 2nd quarter of 2009, that will make 17 closings for the first half of 2009 (a few more contracts might be signed and close in the 2nd quarter-I hope). At that rate, there is just under 3/12 years of inventory for sale in Chappaqua.
Clearly, no place is immune to the economic woes we are experiencing. Let’s hope that things heat up for the 9 real estate brokerage companies that serve Chappaqua. 4 sales in a quarter is tough to split among literally hundreds of agents. This is another reason why I am thankful that my market is not one zip code or town. I have sold 2 homes in Chappaqua in the not-too-distant past and expect to sell more, but I would never hang my hat on just one town.
J. Philip Serves Briarcliff Manor, Ossining, Croton on Hudson, Pleasantville, Sleepy Hollow, White Plains, Yonkers, Peekskill, Cortlandt, Tarrytown, Yorktown, Montrose, Hawthorne, Thornwood, Valhalla, Hartsdale & all of Westchester County, New York.
J. Philip Serves Briarcliff Manor, Ossining, Croton on Hudson, Pleasantville, Sleepy Hollow, White Plains, Yonkers, Peekskill, Cortlandt, Tarrytown, Yorktown, Montrose, Hawthorne, Thornwood, Valhalla, Hartsdale & all of Westchester County, New York.
Typically, we celebrate our “firsts” in this business- our first listing, our first cash buyer, or our first high priced transaction. My “first” this past Sunday was not a happy one. Thieves attended and stole some irreplaceable jewelry. My clients are crushed. I am mortified as well. It happened on my watch.
It was brazen, bold, fast, and undetected. There was absolutely nothing in the way these people acted that made me suspicious. My clients saw them arrive as they left the house, and they felt suspicious. However, they didn’t tell me this, and it was only after the open when we spoke that they asked about these two ladies. They just had a feeling- they had a nice car, but they had a bad feeling. I told them I had no reason to be suspicious. In 13 years, I said, conscious of the possible irony, I have never had a theft. Besides, I reassured them, you told me your valuables are locked up. On I went to my next appointment.
Less than an hour later, I got the call. My client was utterly distraught. They got her jewelry- the good stuff was gone and the fake pieces were left. They were pros- they knew exactly what to take and what to leave, and they must have done it in under a minute.
Naturally, the question was asked if I showed them around the house. I showed them parts, but when hosting an open house alone with 3800 square feet to show and the prospect of someone new arriving anytime, as well as the fact that some people don’t want to be “trailed” you have to make some snap judgments. If I am upstairs waxing about the bathroom fan and someone arrives with no agent in sight, they might leave. So I remained on the main floor while they were in earshot upstairs. We chatted briefly at the door as they left, and one of them thought she might take a gummy-bear from the candy jar. Then she decided not to. I didn’t view that as significant.
Evidently, my client kept all of her valuables under lock and key except for some sentimental pieces that she wore almost daily. That was was in an unlocked drawer. Those were the things the thieves took. There is a police report filed, and the MLS has sent out a warning.
Of course, the sign-in sheet information is bogus. What isn’t bogus, however, is the fingerprints we expect to detect on the candy jar, sign-in sheet, and pen, which have been given to the police. They are even testing the jar for DNA. People that operate like this may already have a record and be in the system. We also know that the same pair we suspect stole from a nearby open house the same day. I spoke with the other agent and these two were the only attendees in common. Agents are now forewarned.
It goes without saying that valuables must be locked away for open houses. We can’t keep our eyes on multiple people 100% of the time at opens, especially since you cannot be suspicious and sell at the same time. Naturally, I have replayed those 10 minutes over and over. There is no reasonable way I think I could have done anything differently. It is natural for people to open closet doors, for instance. Even if I had trailed those people, it is clear that they were pros and would have stolen somehow, especially if more people arrived. The best way to deal with thieves is to not give them an opportunity.
Warn your clients, especially the ones who want open houses, that valuables have to be secured. Our job is to sell and certainly to watch out to the degree we can, but we aren’t equipped for the pros. I have a feeling that these particular people will get caught because they are so bold. If so, I hope that my client will get her stuff back. Going forward I’ll be on guard, but no amount of suspicion will replace smart security measures taken by home owners.
I am a proud member of the Villanova class of 1989. Few places can turn a New York-born, Giant and Yankee rooting, Eagle and 76er hating guy like me into a dedicated cheesesteak muncher like that rolling campus on the Main Line. I was on pins and needles yesterday watching that game. It was vintage Wildcat teamwork: no superstar, stingy defense, and smiles at the end.
The best my era’s teams did was advance to the final 8 in my junior year. The campus went bananas after they beat Illinois to advance to the Sweet 16. I’ll never forget it. They won the whole thing in an upset for the ages in 1985, the year right before I attended. I was a senior in high school here in New York, so I was rooting for St. John’s. When I arrived on campus that autumn as a freshman, the place was electric.
If my Facebook page is any indication, my fellow alumni are just as happy as the kids on campus.
White Plains is the county seat of Westchester and is, in many ways, the hub of commerce for the area as well. It is home to the county government offices, numerous malls, the local Westchester Board of REALTORS, and some fantastic food and libation along Mamaroneck Avenue. You don’t go to White Plains to hide- you go there to get things done. It is a great commuting point with appealing neighborhoods and proximity to everything. There are many co ops and condominiums near downtown. The mix works. There is very little not to like about White Plains.
This data is for the city of White Plains only and is taken from the Westchester-Putnam Multiple Listing Service. It compares the sales of single family homes from the first quarter of 2006 , 2007, 2008 and 2009. I cut the data off at March 27 of each year so the numbers would be consistent.
Year
# Sales
Average Price
Median Price
2006
40
$ 749,060.00
$ 687,500.00
2007
42
$ 695,938.00
$ 655,000.00
2008
25
$ 677,508.00
$ 623,000.00
2009
27
$ 605,926.00
$ 590,000.00
Clearly, White Plains exhibits the “soft landing” people spoke of before the financial crisis hit. The number of transactions did go down from 2007 to 2008 but prices didn’t drop very much. Transaction totals stabilized in the face of lower prices in 2009. In short, White Plains was not immune to the downturn but was not as adversely affected as some other parts of the county. This speaks well of White Plains- even though the economy is down, people are still buying there. I just sold a listing in the Battle Hill section this past week.
Don’t think for a minute that it isn’t still a buyers market in White Plains, however. Inventory is still quite high- 131 active single family homes remain for sale here, and only 21 are under contract with buyers.
J. Philip Serves Briarcliff Manor, Ossining, Croton on Hudson, Pleasantville, Sleepy Hollow, White Plains, Yonkers, Peekskill, Cortlandt, Tarrytown, Yorktown, Montrose, Hawthorne, Thornwood, Valhalla, Hartsdale & all of Westchester County, New York.
Well cared for colonial on a quiet street and close to everything – shopping, the Hutchinson Parkway and more. Boasts a den, formal dining room, half bath, kitchen and spacious living room on the first floor. Has both a carport and 2 car garage, plus patio in the rear yard, perfect for barbequeing or social time. Aggressively priced, with lots of character – leaded & stained glass windows, nice woodwork and great curb appeal. Click on the photo for more information.
J. Philip Serves Briarcliff Manor, Ossining, Croton on Hudson, Pleasantville, Sleepy Hollow, White Plains, Yonkers, Peekskill, Cortlandt, Tarrytown, Yorktown, Montrose, Hawthorne, Thornwood, Valhalla, Hartsdale & all of Westchester County, New York.
I am from Ossining. I grew up here and no place is closer to my heart. The village lies on the banks of the Hudson River and is an amalgam of densely populated somewhat urban sections as well as more bucolic subdivisions as you go inland. Ossining is a hilly place, with streams, brooks and a nice mix of pre war homes and newer baby boom era housing.
This data is for the village of Ossining only and is taken from the Westchester-Putnam Multiple Listing Service. It compares the sales of single family homes from the first quarter of 2006 through to the first quarter of 2009. I cut the data off at March 27 of each year so the numbers would be consistent.
Year
# Sales
Average Price
Median Price
2006
29
$ 486,939.00
$ 431,500.00
2007
26
$ 465,923.00
$ 413,500.00
2008
19
$ 464,559.00
$ 420,000.00
2009
8
$ 405,688.00
$ 385,500.00
There was a downward trend from the high point of 2006 until the wheels came off in 2009. Nothing new here; the pool of borrowers is tiny, prices are down, and the number of sales is down more than 50%. The thing that comes to mind for me is not just the market. There are 9 real estate firms in the 10562 (Ossining) zip code with 80 licensees ostensibly serving the area. There are also more agents from numerous firms in nearby Briarcliff that also service the village which probably doubles the number of agents. That is an awful lot of agents to split up 8 sales. I work all of Westchester and neighboring areas, so my wagon isn’t hooked up to one marketplace.
Ossining will certainly bounce back, but money needs to circulate again for more people to take advantage of the lower prices. There are 62 active listings for single family homes alone in the village, making now an exceptional opportunity to buy.
J. Philip Serves Briarcliff Manor, Ossining, Croton on Hudson, Pleasantville, Sleepy Hollow, White Plains, Yonkers, Peekskill, Cortlandt, Tarrytown, Yorktown, Montrose, Hawthorne, Thornwood, Valhalla, Hartsdale & all of Westchester County, New York.
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