Archive for the 'For Sellers' Category

The NYC commute – beyond the train ride…

Metro-North Train from Irvington to NYCRecently, Inman News wrote about commutes across the country.  Not surprisingly, the NYC commute was rated the longest in the nation. So its no small wonder that commuting distance (read commuting TIME) plays a big role in determining home values. For many home owners, their home values have become something of a crap-shoot. Take away train line or even just at station stop, add major congestion on  primary local arteries and those who were previously sitting on pretty pile of equity may see it all go south.

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When a home doesn’t appraise…why it happens and what to do about it…

The numbers game...

The numbers game…

We live in an interesting world.  With home prices rising and inventories low, the last thing most of you would be expecting from me is a news letter about appraisal problems.  How could that possibly be an issue right now?  This would seem like a total no-brainer. Prices are going UP, so what’s the problem?

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State of the Scarsdale Housing Market – Trends from 2015 & onward…

Tudor Facade Dry Brush - 500px

Scarsdale Village on a Summer Day

Scarsdale has always been a famous Westchester location. It has a panache that is all its own.  Often with very good reason, I might add.  It is a lovely town and the village center has tremendous old-world charm.

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Fuzzy math and market stats…

knowing your numbers!

Last week I released several market reports.  Every time I do this, I agonize over the numbers and worry that buyers and sellers will take these numbers the wrong way, or perhaps too literally.

Numbers don’t lie, but they can be loaded with caveats…

There are times when I calculate the median sales and know that the results are just “wrong”. I don’t mean “wrong” in the sense that the calculations are incorrect.  I mean that even though numbers don’t lie, they can be distorted by random quirks.

I used to be a biologist and actually spent many years in the lab. Outliers in biological systems are common and they can skew the data and make a general mess of things.  And so it is with real estate. When you drill down into towns and villages, the total numbers go down and that means random variances in the housing stock can give distort the picture, kind of like a fun house mirror.

So then I have to ask myself, am I wrong or is it something about the numbers?  Did sales prices REALLY go up over 20% in town “A” over a mere  year? Or did condo sales prices really tank in town “B”?

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State of the Larchmont Housing Market – Trends from 2015 & onward…

Spring Buds Manor Park - 500px

Manor Park – Larchmont – Early Spring

Larchmont is a village and P.O. in the town of Mamaroneck.  As such it is part of the Sound Shore portion of lower Westchester, hugging the Long Island Sound on its eastern point.

The Larchmont market, like other markets along the Sound Shore, is an appreciating market.  It is one of the most popular destinations for those seeking to move to the suburbs from Manhattan or one of the other boroughs.  The bulk of this market is the single family home market.  There are several very popular cooperative complexes along with a brand new luxury condo complex (The Cambium) that has just started closing their first sales at a good clip.

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State of the Mamaroneck Housing Market – Trends from 2015 & going forward…

Harbor Island Park - Mamaroneck NY at dusk

Harbor Island Park at dusk – Mamaroneck NY

The Mamaroneck market, like other markets along the Sound Shore, is a very active one that is appreciating in value.  By far the biggest part of  this market is in single-family homes, although there are several very popular condo and co-op complexes, many near the center of town and the Metro-North station.

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Downsizing – The waiting game…


Hudson Harbor Townhouses-HDR-DryBrushMost empty-nesters eventually want to downsize and many are exploring their options. For most, the issue isn’t  a matter of if, but when. Its both an emotional and financial decision that on a scale of 1-10 rates an 11 on life-changing events.

Complicating matters is an underlying issue that often takes empty-nesters by surprise. What they are finding is that even though their home is rising in value, the housing recovery has been very uneven and often not working in their favor.

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State of the White Plains NY housing market – Trends from 2015…

The White Plains housing market has been trending upwards since the bottoming out from the housing crisis of 2008. The popularity of White Plains has been increasing over the years, particularly in the downtown. Many non-residents think of it as strictly a city until they see the charm of the outlying suburban areas.  These represent two distinct markets for White Plains and both are doing well.

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General Real Estate Trends – Move-up buyers…

 

15 Kilmer - Larchmont - web- smallPodcast Transcript:

This is the final installment of my short series on the state of the Westchester housing market and today I will be talking specifically about move-up buyers.

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General real estate trends – Downsizing…

Hudson Harbor Townhouses - Tarrytown NYPodcast Transcript:

As I said in my last podcast, people are always asking me for quick  “market updates”.  Today I’m going to give another quick assessment of the current Westchester market. The last podcast targeted first-time buyers.  This podcast is about empty-nesters and others wishing to downsize.

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