What can you buy in different parts of Westchester County for half a million? Interesting question. I did a survey of closed transactions around the county in the past 30 days, and what I found speaks to the different characters of the many areas of our fair county. Bear in mind that these are closed transactions since September 3, not asking prices or deals from a bygone era. All information is taken from the Westchester -Putnam Multiple Listing Service. 

• In Somers, home of my alma mater, John F Kennedy Catholic High School, $487,000 bought a 3 bedroom 2100 square foot raised ranch with a granite and stainless steel kitchen on almost an acre. 
• In Mamaroneck, $520,000 bought a 19th century 1900 square foot 4 bedroom colonial on a third of an acre. 
• In Pelham, $519,500 bought a 1920 era 1500 square foot 4 bedroom dutch colonial on just under a fifth of an acre.
• In Briarcliff Manor, where I live, $520,000 bought a 1905 colonial on 3 acres with 3 bedroom,s 2 baths, and a 2 car garage.  
• In Ossining, my home town, $495,000 bought a 2700 square foot 3 bedroom 3 bath colonial with a stainless steel kitchen and finished basement on just under a quarter acre. 
• In Pleasantville, $487,000 bought a 2 bedroom, 2,5 bath 2400 square foot townhome. 
• In Larchmont, $505,000 bought a 1939 3 bedroom 2 bath split with a garage and fireplace. 
• In Croton on Hudson, a beautiful river village, $503,000 bought a 1930’s art deco home with 3 bedrooms, 2 baths and 2600 square feet on 1 acres.
• In Yonkers, Westchester’s largest city, $500,000 bought a 3 bedroom 1800 square foot colonial with an updated kitchen.
• In White Plains, the county seat,  $485,000 bought a 2005-built 2 bedroom 2 bath 1600 square foot garden style condo. 

This is for single family home activity in the Briarcliff Manor school district for September of 2010. All information is derived from the Westchester-Putnam Multiple Listing Service. 

Compared to June 2009, Briarcliff Manor sales volume is about even. Transactions are down one, and median price is down about 2%. 10 Homes are under contract, which indicates more strong activity, albeit at a lower median price. 

In the Active section, you might notice that the late Brooke Astor’s estate, Holly Hill, has come off the market. It was replaced this past month by the Ash Ridge Estate as Briarcliff’s most expensive available listing. 

There are 51 available home in inventory, which is a healthy selection and just under a year’s worth of inventory.

Previous posts on Briarcliff Manor.  

If you’d like to search for a home in Briarcliff, get yourself a free Listingbook account and search the MLS like an agent. 

This market report is for single family home activity in the Ossining school district for September of 2010. All information is derived from the Westchester-Putnam Multiple Listing Service. 

In the wake of last month’s encouraging numbers, this September was way down from September of 2009. Sales are down by 40% and the median price tumbled $65,000. Not good! 

However, 22 pending sales is healthy, and the available inventory of 161 homes offers great options for prospective home buyers. 

I would not read much into the down numbers; Ossining has not fared poorly lately and was due for a down month. I have a feeling October will be a strong bounce back. 

Previous postings on Ossining.  

You can search for a home in Ossining by getting yourself a free Listingbook account. 

In general, I love being number one. In 2007, I was the top ranked agent in the Westchester Putnam MLS for single family home closings. I was very proud. I also won a high school wrestling tournament my senior year of high school. Very gratifying. Westchester County is also number one in the USA in something, but I doubt anyone will celebrate. What are we the champion in? High property taxes. 

I have to say, that being number 1 in a nation of over 300 million with who knows how many thousands of counties must really take work. This is especially the case when neighboring Fairfield County, CT pays about half the taxes on similar property with not a scintilla of sacrifice to their quality of life, education, or safety. 

How did we get here? Well, I would place plenty of culpability on our former 3-term county executive, who spent money like a drunken sailor, was ubiquitous in the local society pages, loved to spam our telephones with recorded messages and called people who wanted to reduce or eliminate county government “clueless.” But overall, we do not have a sustainable municipal structure. The 19th century model of villages, towns and county governments with overlapping elected officials and redundant services is a huge chunk of the problem. The preponderance of boutique school districts with vast resources concentrated in small wealthy villages with high schools of 300 students next to less affluent cities with thousands in their high school(s) is another big problem.

In Connecticut, villages are for postal addresses and nothing else. In my home town of Ossining, we have two villages with separate governments, police departments and municipal services, to go along with the unincorporated town with its own government, police department and municipal services. 

Westchester also has lots of  school districts that are minuscule in size, with the discussion of consolidation occasionally coming up but vetoed for reasons often not discussed in polite company. The overlap in administrations, superintendents, principals and other roles continues to add to the black hole of spending. 

Other problems loom, such as a $50 million equal housing lawsuit the county must contend with, as well as the ever growing pensions of public employees with defined benefits flying in opposite directions of the markets and defined contributions an anathema to the unions.

It is my hope that first term County Executive Astorino will be given the chance to eliminate the waste, and bring county spending and government in line with sanity. The town of Ossining police department has just agreed to merge with the county force, which will save some money. But we have a long way to go.  

Realizing that they cannot ruin lives without, um, following the law, Chase has joined GMAC in suspending foreclosures while they sort out what has become regarded by Inman News as the “robo signing controversy.” Governing agencies have criticized the large lenders for sloppy procedures in pursuing foreclosures, requiring them to audit their files and make sure they are following the proper steps prior to repossessing and displacing more people. In Chase’s case, 56,000 foreclosures are now on hold in 23 states. 

If you’ll allow me to indulge in a metaphor, the government is making sure the banks find the soft tissue of the borrowers so they can make a cleaner kill when they pull the trigger. You don’t want the victim, um, delinquent borrower to writhe in pain on the floor and have to use a 2nd bullet to finish them off.

Given the stories we have read recently on this very platform of banks foreclosing on homes owned free and clear and beginning short sales on the broker’s home instead of the clients, I agree that it is a good idea to mind the Ps and Qs prior to booting people out of their homes and into a Super 8 or basement apartment.  

One has to wonder aloud how many people have lost their homes who shouldn’t have, and how many more lenders will suspend their own foreclosures. 

Yet again, another mess, created by the banks. 

The “Real Estate as an Investment” Canard

Two items of significance today:

1. I have a closing at 1pm. This is very pleasing to my wife, who attaches importance to having funds in the company operating account. 
2. Regarding the wife: Nine years ago today, Ann showed up. For our wedding. This was something that at the time was not an absolute certainty, as she had some serious pre-wedding jitters the whole week before, and I remember getting to the church hearing an old car in the parking lot with its alarm blaring loudly for what seemed like 15 minutes. The owner did turn it off before the ceremony, but I was paranoid that it was a bad omen. I really was afraid she might not show up. I remember seeing her arrive in the back of the Church looking like  a million bucks and feeling relieved and dazed. As we walked out of the Church, she turned to me and said “Oh, that’s not any different.” I am sure every husband can remember that first moment when he wanted to strangle his wife. That was mine, 30 seconds after the wedding. She worked fast. 

Actually, working fast seemed like Ann’s superpower. Luke arrived 9 months and two  weeks after we wed. Huge blessing that was, as anyone married in their 30’s knows. In the past nine years we have brought 4 children into the world, endured a miscarriage, said goodbye to two dogs, my brother and her father, and partnered up in this crazy real estate company. Ann is the administrative goddess who has harnessed all my hot air like a virtuoso, and we now have 18 licensees docked with the company with half a dozen more waiting in the wings. The company has grown in the midst of a horrid market, but she’s been right there with me every battle, skirmish, win, loss, tie, injury, obstacle and solution and she always packed me a nice sandwich, often with a pickle, and always garnished with encouragement and faith in me. 

Gregory, our 5 year old is on the spectrum for autism and she’s been an endless well of support and love for him, educating herself immensely into that mysterious world in spite of all the overwhelming plates we must spin as self employed parents of 4 working in an uber-competitive New York market in a miserable economy. 

She is still a fun date, cuts across a room like a Rockette, and has not completely been jaded and corrupted by my dark sardonic humor. The children worship the ground she walks on, and with good reason. She has created their childhoods to be like the Garden of Eden. The dog reveres her. The agents in the company adore her. I have learned to listen to her. Sometimes. I can completely be myself around her, which is priceless to me. 

As hard as we work, there are times when she relaxes by playing the piano. The children all take their stations nearby with their book or toy of choice, the dog takes his perch, and I hear it all from whatever table I am tapping on the laptop. The phone is mercifully silent for a few minutes, and there is no fire to put out as her music echoes throughout our home. These are the moments where I am reminded that I am blessed. 

More wedding pictures.