Archive for the 'Villages/Towns' Category
Scarsdale Cooperatives:
Scarsdale coops are very popular for commuters and long-time residents alike. When people think of coops in Scarsdale, they are often thinking of the famous Garth Road. Unfortunately, there are no longer any dog-friendly cooperative complexes on Garth. However, nearby on Central Ave, there is such a complex.
Scarsdale Country Estates:
Scarsdale Country Estates is located on Campus Place and Sentry Pl. off of Central Ave. Although they have a Scarsdale, P.O. address, it is important to clarify that they are actually located in the town of Greenburgh in the famous Edgemont school district. These are lovely old world garden style units with fine moldings, hard wood floors and fireplaces.
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The river towns comprise the towns/villages in Westchester that are located along the Hudson River. This blog covers the lower Westchester region primarily in the town of Greenburgh. Sleepy Hollow is included since it shares a school district with Tarrytown. Initially I ran these statistics on Tarrytown and Sleepy Hollow, but the sales volume was too low to create reliable statistics.
In general, prices in the river towns such as Tarrytown NY showed some signs of stabilization in the river towns. Certainly the area has been badly beaten up over the past few years, so it was good to see a slowdown in declining prices.
Cooperatives:
The pricing for cooperatives was dicey because during the 4th quarter there were practically no 2BR sales. This skewed the price point dramatically downwards. Although the number indicates a decline of over 34% from the previous year, this market is nowhere near that unstable. Because of the unusual sales pattern decent sales figures were almost impossible to come by. However the increase in sales volume of 120% indicates a recovering market. The 6 month inventory reflects a slowly declining market. So the numbers indicate a level or slightly declining market creating some good news for buyers and sellers a like.
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Another Larchmont restaurant that is a real hot spot among the locals is the famous Larchmont Tavern. The LT dates back to the Great Depression. It opened in 1933 – at the height of the depression. Today it is open 7 days a week for lunch and dinner. Located at 104 Chatsworth Ave., its central location makes it a draw for families and commuters a like. It is practically across the street from Metro-North making it a convenient destination for commuters looking to grab a bite or a drink after work. The place is always packed and the reason for that is obvious. The food is basic family fare – but done well and with excellent service. Personally, I love their salads particularly the Spicy Southwestern. No need to order extras – the salads are huge and there is always plenty for a second meal the next day.
For more information as well as a menu go to http://larchmonttavern.com/
© 2010 Ruthmarie G. Hicks – http://thewestchesterview.com. All rights reseverd.
Larchmont restaurants are very popular places for the locals to gather. Larchmont is very much a bedroom community – and after a long day in the city, many of the residents like to eat out. One of my favorite places to eat in Larchmont is the famous Chat 19. Chat 19 is one of a cohort of Westchester restaurants by Mario Fava – who saught to bring New York City to Westchester. This is one of the most popular places to dine in Larchmont. The place is generally packed and in the summer, the crowd spills over to the sidewalk for outdoor dining. I particularly like eating outdoors. Larchmont is charming and its a wonderful experience to watch the crowds on the street on a warm summer night. Chat 19 is popular for a good reason: the food is wonderful. The cusine is American Grill. The decor could best be described as So-Ho style.
The food is excellent as is the service. I particularly enjoy the spaghetti squash where squash is shaved into “angel hair spaghetti” with diced vegitables, pine nuts and nice tomato sauce. It may sound a bit strange but it is a wonderful meatless meal. I’ve also enjoyed the Jambalaya which is nicely spicy without going over the top.
For more information and a menu go to www.chat19.net.
© 2010 Ruthmarie G. Hicks. http://thewestchesterview.com. All rights reserved.
Larchmont Property underwent a downturn over the past year. Traditionally, this market had been quite resistant to recession forces however, the crash of 2008 brought prices down. But while it brought prices down those lower prices brought out buyers – particularly in the single family home market. Always desirable for its schools, easy commute and great location, Larchmont homes for sale are always in demand. Inventories are relatively low when compared to the rest of Westchester.
Larchmont NY Cooperatives:
At first glance, it appears as if cooperatives in Larchmont underwent a significant price increase over Q4 2008. But that didn’t square with comperables in individual complexes. Looking closer, there was a descrepancy in the number of 1 BR vs. 2 BR units sold. So much so that it skewed the numbers. Instead of prices being up over 18% – when I compared 1 BR coops from Q4 2008 to Q4 2009 – prices were actually down over 22%. Inventories are consistant with single digit depreciation with about 8 months of overhang on the market. Sales volume remained steady over the previous year – which is a positive sign in spite of the price drop.
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The Scarsdale market began its correction towards the end of 2007. Scarsdale homes went down substantially in value through 2008. In spite of the financial meltdown at the end of 2008, the Scarsdale market has actually been firming up over the past year. Although this has not been smooth ride, there are signs that the market is stabilizing – or at least depreciating at a slower rate. In many ways the Q4 data reflects the Q2 data where year over year home values had started to nudge up. In Q3 many of these gains were erased, but they were back in the 4th quarter.
There are several issues that could derail this trend. Subsidies for mortgages will be ending putting pressure on interest rates. Further, Scarsdale is not immune to the shadow inventory of foreclosures that have yet to hit the market. the high-end will probably not be spared a share of short sales and foreclosures.
Scarsdale NY Cooperatives:
Cooperative sales prices remained stable from the previous year with the average sales price of $251,000 for both years. Sales volume was impressive when compared to the doldrums of the post-crash 2008 – up 72% over the previous year. The swollen inventories have decreased and there is only a 4.9 month inventory currently on the market. This is consistent with stable prices.
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The housing recession continued to exert its impact on local markets. Hartsdale was no exception. Areas such as White Plains and Hartsdale were late to the recession party. For a while it looked as though they might emerge somewhat unscathed. But the market crash of 2008 caused the correction to reach the lowr Westchester market. The question remains as to where the bottom of this market truly is. I have given up making too many predictions. What conclusions one can come to are generally based on current inventories and the absorption rate. Since housing is supply and demand – low inventories stabilize prices. In any case, the decline is not over, but it is fair to say that the free-fall of last year seems to be winding down.
Hartsdale NY Cooperatives:
Entry-level markets fared better than other sectors so far during this correction. Cooperatives in Hartsdale show a similar pattern to that of White Plains. Prices are down 3.3% over last year. However, I would warn that this might reflect the increased sale of 2 BR units over 1 BR units. As prices fell, buyers found they could afford a bigger unit – creating statistics are artificially favorable. If you are a seller, be careful not to overprice your coop. Inventories are low and volume is only slightly lower than the previous year. So, for the moment, this is more stable market than most.
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Over the past couple of years, I’ve written several blogs about local businesses. One of my favorite haunts has been Coffee Labs of Tarrytown NY. Coffee Labs was established in 2002 and for seven years has roasted and served wonderful coffee drinks and freshly roasted coffee to brew at home. Coffee Labs was named for the owner’s chocolate Labrador Retrievers. During tht time, Mike and Alicia have established Coffee Labs as a eco-friendly and pet-friendly coffee shop. Since they don’t prepare food on-site, they had an arrangement with the health department that allowed patrons to bring their dogs into the shop. The dogs had to be properly leashed and be well-behaved. I even wrote a blog about how Jade and I often spent mornings at Coffee Labs while I completed correspondence and some work realted activities – including market reports and blog articles.
But it only takes one complaint to ruin something that has worked well for years. Apparently one person complained to the health department and that has put the entire pet-friendly nature of the coffee shop “on hold.” The coffee shop is applying for a variance so that the patrons can bring their pets back. But positive public opinion on this matter can only be helpful. So I ask all pet-owners everywhere to feel free to comment on this blog and add your support by joining the discussion on Facebook. As one dog-owner and patron said to me last evening – “If you don’t like the fact that dogs area allowed – go somewhere else! There are plenty of coffee shops in Westchester if you don’t like dogs.”
© 2010 Ruthmarie G. Hicks – http://thewestchesterview.com. All rights reserved.
Happy New Year Everyone…
Westchester is one of those places where there is a New Years celebration to fit any mood. To prove the point, during the course of the day and evening I decided to keep a photo journal of sorts of my New Year’s Eve. I pulled my favorites for posting. For those who prefer a more contemplative mood, there was plenty to do and see in lower Westchester. You could walk the trails, take a drive, wonder around the towns and villages. For those who prefer to party – downtown White Plains had its annual ball drop and New Year’s party. My personal preference leans towards the more quite and reflective celebration. But that didn’t stop me from attending the annual ball drop and fire works in downtown White Plains. Unfortunately, my camera didn’t catch the fireworks – let’s just say my camera picked the wrong time to need a change of batteries. Too bad too, because the show lit up the sky to the point where it was almost like daylight for a moment. Hopefully, you will find a picture to suit your mood….
© 2010 – Ruthmarie G. Hicks – http://thewestchesterview.com. All rights reserved.
Scarsdale NY housing has been in the cross hairs of the housing recession for a while now. Initially, it was resistant to the correction taking place in other parts of the country. Eventually the forces that had hit other parts of the country so dramatically, came home to roost even in the most resilient areas of Westchester. Real estate values in Scarsdale NY came under prssure as inventories swelled. The drop was severe. However, some of the numbers show signs of a bottom being at hand.
Cooperatives:
The number of co-ops sold are down 15% over the previous year. This is a trend that has been seen in other parts of the county and reflects the difficulties in obtaining financing. Currently there is a nearly 8 month inventory on the market. However, prices remain slightly higher than the previous year, (5.4%) indicating a market that is stabilizing. There are some mixed signals here. the inventory is still high however, the pricing is surprisingly robust.
Single Family Homes – Scarsdale:
After a “pop” during the 2nd quarter prices have once again fallen and are down 27% over the 3rd quarter of 2008. Swollen inventories are going down. Right now inventories are approaching th 6 month mark.
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