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I posted not long ago that one of the reasons why inventory is so low is that we are not building new homes at a rate needed to meet our housing needs. It is estimated that we need another 7 million units to solve this, and that won’t happen overnight. What’s worse is that in many communities like my own home town of Ossining, NY, there is considerable resistance to new development. In reading local community group postings, online, the chief reason for opposing the construction of new housing is the strain it potentially adds on the traffic and schools. The Northeast as a whole does have older infrastructure, and not much wiggle room to widen roads and build new schools, and we already have the highest taxes in the universe.
There is a proposal to build a new school, but the opposition to that will be significant. The last year a new school was built was around 1963, give or take. The population of the town was just over 26,000 according to the 1960 census. The current population stands at over 40,000 residents. Many of the existing schools have been expanded, but that’s been more of a bandage than a long term solution. Something does have to give; we can’t ignore the dwindling housing supply.
Looking back, I’m mindful of just how much times have changed. I recall as a youth in the 1970s that the district actually closed two schools due to the lower birth rate of the time, and new construction went from over 1000 new units in the 1960s to fewer than 250 in the 1970s. But the 1980s saw a resurgence in new development, mostly townhomes and condominiums, and eventually Roosevelt School, which had been closed and converted to offices in the early 70s, was reopened to accommodate the growing student body.
According to my search of public records, building declined in the 90s to 600 units, then mid 200s in the 2000s to only 31 from 2010-2019. That last one was probably due in large part to the Great Recession, but standing here in 2024 housing costs are nuts and any proposed new development always has vocal opposition.
Looking at the big picture of what is sustainable and works best in the long run, my vote would be to break ground on more 55 and over housing. The population is aging (I include my 56 year old self in that statement), and for many of us who are looking at empty nests and eventual retirement the options for downsizing are relatively sparse. There is a large population shift to the sunbelt and more affordable regions out of state, but that doesn’t do much for us locally. Denser townhome or condo style housing devoted to 55 and over should assuage the concerns about building. There would be far less strain on the schools, it broadens the tax base, and it gives more housing options to first time buyers when older folks transition to the new units. I certainly don’t think the commerce enjoyed from the new development would hurt either.
I don’t have a magic wand or housing emperor scepter, but if I did this would happen.
Ever since I got in to real estate in the 90s, the public has had a bit of a preoccupation with buying foreclosures. The perception that a bank owned property is a bargain is hard to argue with, but it’s not always a simple or straightforward process. Having specialized in distressed properties for decades, I’ll share some things that buyers really need to know before they purchase something around these parts, because New York is a different animal, and Westchester and the surrounding counties are not like upstate either.
When I went to pick my son up from baseball practice earlier this week, a friend came up an smiled at me. “Sorry about your pay cut!” I knew what she was referring to, and as I peruse the news reports on the recent NAR commission settlement, I share many other Americans’ frustration at the failure of our journalism to accurately report on the matter. I know racy headlines get clicks and sell papers, but accuracy in reporting is still important.
If you’re my age or older, you probably recall the the old Dick Van Dyke show. Dick Van Dyke Played Rob Petrie and his TV wife Laura was played by the great Mary Tyler Moore. You may not recall the exact address, but the Petrie family lived at fictitious 148 Bonnie Meadow Road, New Rochelle. Bonnie Meadow Road actually does exist! 9 out of 10 Westchester residents over the age of 50 know the show was set in New Roc, but even I didn’t know the address. 
If you’ve ever wondered what the story is behind those flimsy looking signs nailed to telephone poles all over the place promising you a fast cash sale on your house, I have the answer.
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.
Swimming pools are probably the last thing on most peoples’ minds but we are still selling homes that have them, and this thought is a bit overdue.
When I was first licensed in the 1990s, if a house didn’t sell for a period of time like 30 or 60 days, we would often reduce the price. Sometimes it was because we had too few showings, or because the showings we had didn’t yield any offers. On occasion, some home sellers would voice concern at a price change because no one had seen the house to give them price feedback. We’d have to explain that the feedback was the actual absence of showings. It wasn’t a truly data-driven process, however, because we had no means of measuring who saw the house either through their agent’s analog means (like seeing it in a broker’s binder) or advertised in publications and passed on it. We did have ample evidence that once a price was reduced, that the market responded.
Bedroom Count and Septic Systems
In general, the number of legal bedrooms for homes on septic is not based on the number of rooms, but on the capacity of the septic system. I once had a listing with what appeared to be 4 bedrooms that was well over 3000 square feet that was considered a 2 bedroom home. We couldn’t call it a 4 bedroom because the septic system was a 2 bedroom septic. There’s a fantastic article on the official requirements here.
The reason for the bedroom count being tied to the septic capacity and not the actual room count is the presumed use for those living in the home. It stands to reason that a 2 bedroom home will have far fewer inhabitants-and therefore use far less water- than a 4 bedroom home.
I said all that to say this: If you have a home that presents itself like a 4 bedroom house but the official septic capacity is for 3 bedrooms, I cannot list it as a a 4 bedroom. You might have the thirstiest septic system in the county. You might have raised a family of 12 in the house with no issues whatsoever. It doesn’t matter. We have to list properties by their official characteristics. Even if I tried to fudge it and sell a 3 bedroom home as a 4 bedroom, the buyer’s due diligence would find the discrepancy and they could attempt to negotiate or, worse, get spooked about the misrepresentation and walk away. I could also be liable for an ethics grievance for not rendering a true picture of the facts on the home. It simply isn’t worth it.
What I can do is refer to the 4th room as a possible 4th quarters or say that the home lives like a 4 bedroom. But I cannot, in the official bedroom count, dissent from what the building department and certificate of occupancy say. The certificate of occupancy, or CO in the biz, should specify the bedroom count, and if it doesn’t, then the building department should have an official bedroom count. What your municipality says is the final authority.