The Westchester View » Villages/Towns

Scarsdale Coops – Pet-Friendly Scarsdale Country Estates

Ruthmarie Hicks — Wed, 24 Feb 2010 08:28:55 +0000

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.

Being located directly off of Central Ave., these units offer easy access to the Express Bus to Manhattan as well as Shuttle service to the Scarsdale Train Station. Their location is definitely convenient many forms of shopping and within just of few minutes of the hustle, bustle, shopping and entertainment that downtown White Plains, NY and the City Center has to offer.

Cost of Living:

The units themselves are generously sized with loads of charm. 750-900 sq.ft. is customary for a 1 BR or Jr. 4 while 1250-1350 sq. ft. is the norm for a 2 BR. Many of the ground floor units offer private entrances complete with private patios and are very appealing for people who have pets or for those who just enjoy being outdoors in warmer weather. Parking is available but unassigned and storage is available.

There are several units under contract and in pending at this time. Although the final sales price is not known, the average sales price is about $178,000 for a 1 BR/1BA unit with units having a private patio having a correspondingly higher price. The average maintenance is $731 a month without STAR savings. Using a 30-year 5.5% loan and a 20% down payment as a basis, the outlay for such a unit after calculating standard tax deductions would be about $1250/month – more than competitive with rentals in the area. 2 BR units are selling for about $277,000 with maintenance fees running $1050/month. The outlay is correspondingly higher at about $1920/month but still very competitive with rentals.

Pet Friendly Status:

One dog is allowed. The dog can be any size or breed but must pass the board.

Westchester New York River Towns – Housing and market statistics for 4th Quarter 2009

Ruthmarie Hicks — Wed, 17 Feb 2010 10:24:14 +0000

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.

Condominiums:

Condos went up in price quite dramatically. But that increase doesn’t impress me so much because it probably reflects the sale of high end units at Hudson Harbor in Tarrytown – skewing prices northward. However sales volume for the river towns is up 67%. There is considerable inventory on the market indicating that although sales are up – price declines may continue for a while.

Single Family Homes:

Single family homes showed 5.5% declines over 2008 which is far less severe than in previous years. There is still an 8 month inventory hanging over the market, but sales volume was up 31% over the 4th quarter of 2008.

Larchmont Tavern – Larchmont NY

Ruthmarie Hicks — Sun, 14 Feb 2010 10:01:08 +0000

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/

Chat 19 – a very popular Larchmont restaurant

Ruthmarie Hicks — Thu, 11 Feb 2010 09:39:28 +0000

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.

Larchmont NY Housing Market Statistics – Fourth Quarter 2009

Ruthmarie Hicks — Sun, 31 Jan 2010 09:13:30 +0000

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.

Larchmont Single Family Homes:

Single family homes underwent a significant price drop over Q4 of 2008 – nearly 16%. This price drop in part reflects difficulties at the high-end because of the jumbo loan market. Nevertheless, there was a significant price adjustment in the entire market. However sales remained brisk with sales volume holding steady over the previous year. Inventories are low. Currently there is only a 4.3 month inventory. This is consistent with a stable or even slightly appreciating market.

We can not know what, if any effect the shadow market of foreclosures will have on this market. Were it not for this issue and the prospect of rising interest rates, this would be looking like a market that is about to roar back. But for now, a wait and see attitude is best. It’s a great time to buy but sellers should price competitively.

Please note that all data was derived from the WPMLS.

Further Reading:

Housing and Market Statistics for Larchmont NY – Second Quarter 2009

Housing and Market Statistics for Larchmont NY – First Quarter 2009

Scarsdale NY Housing Market Statistics – Fourth Quarter 2009

Ruthmarie Hicks — Tue, 26 Jan 2010 08:53:03 +0000

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.

Scarsdale NY Condominiums:

Although Scarsdale is known for its find cooperatives particularly those along Garth Road (Eastchester municipality) near the village and train station. However, condominiums are few and far between. There were no sales of condos recorded on the MLS for Q4 2009. Christie Place will set the standard for condo sales in the future.

Scarsdale NY Single Family Homes:

Scarsdale homes had a very good quarter. Prices were up 24.1% over Q4 of the previous year. Inventories are down, but not out. A 6.7 month inventory is consistent with continued depreciation but in the single digits. Nevertheless, demand is way up from the near stand-still of Q4 2008 with sales volume being up 95% over the previous year.

Edegemont Single Family Homes (Scarsdale PO):

Prices were still down in Edgemont over the previous. Down 18.2% from the previous year. This drop is closer to what was seen in White Plains and Hartsdale during Q4. Sales volume was up 33% but with a 9.7 month inventory, prices are probably still falling.

An Important Note About the Criteria for the Statistics:

I handle each type of housing in Scarsdale differently. I also include a special section for single family homes in “Edgemont” which is really in the town of Greenburgh with a Scarsdale post-office and zip code.
For condominiums and cooperatives, I use the Scarsdale post office and zip code as my criteria. Many of these complexes are actually located in Greenburgh and Eastchester.

This reflects the way most buyer’s shop for housing. Coop and condo buyers work by address whereas those looking for single-family homes are often shopping municipality and school districts.

Further Reading:

Scarsdale NY – Housing and Market Statistics for Third Quarter 2009.

Housing and Market Statistics for Scarsdale NY – Second Quarter 2009.

Hartsdale NY Housing Market Statistics – Fourth Quarter 2009

Ruthmarie Hicks — Fri, 22 Jan 2010 10:33:14 +0000

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.

Hartsdale NY Condominiums:

Condos in Hartsdale NY did not fare as well as coops. Prices were off 16.8% over the previous year. Volume was off 27%. and there remains on the market 11 months of inventory. That number is consistent with a double digit drop in pricing over the next year. This is still a strong buyer’s market.

Hartsdale NY Single Family Homes:

Single Family homes showed the biggest price drop – 29.1% over the previous year. The actual amount was probably somewhat lower given that a large sale in 2008 skewed the data upward. Still, this is stunning drop in prices. However, with the price drop, there was a 40% increase in actual sales. However, the invntory on the market is over 13 months – consistent with further price reductions in double digits.

Further Reading:

Hartsdale NY Housing Market Statistics – Third Quarter 2009.

Housing and Market Statistics for Hartsdale NY – Second Quarter 2009.

Keep Coffee Labs of Tarrytown NY Pet-Friendly…

Ruthmarie Hicks — Sat, 09 Jan 2010 11:01:35 +0000

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.”

Westchester Happy New Year!

Ruthmarie Hicks — Fri, 01 Jan 2010 09:50:12 +0000

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….

Scarsdale NY – Housing and Market Statistics for Third Quarter 2009

Ruthmarie Hicks — Sat, 12 Dec 2009 09:12:20 +0000

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.

Single Family Homes Edgemont -

Edgemont shares ad PO with Scarsdale, but it is actually is in the town Greenbburgh. Sales have picked up in the area leaving inventories low at about 4.4 months.

An Important Note About the Criteria for the Statistics:

I handle each type of housing in Scarsdale differently. I also include a special section for single family homes in “Edgemont” which is really in the town of Greenburgh with a Scarsdale post-office and zip code.
For condominiums and cooperatives, I use the Scarsdale post office and zip code as my criteria. Many of these complexes are actually located in Greenburgh and Eastchester.

This reflects the way most buyer’s shop for housing. Coop and condo buyers work by address whereas those looking for single-family homes are often shopping municipality and school districts.

Additional Reading:

The Westchester View » Villages/Towns

Scarsdale Coops – Pet-Friendly Scarsdale Country Estates

Scarsdale Cooperatives:

Scarsdale Country Estates:

Cost of Living:

Pet Friendly Status:

Westchester New York River Towns – Housing and market statistics for 4th Quarter 2009

Cooperatives:

Condominiums:

Single Family Homes:

Larchmont Tavern – Larchmont NY

Chat 19 – a very popular Larchmont restaurant

Larchmont NY Housing Market Statistics – Fourth Quarter 2009

Larchmont NY Cooperatives:

Larchmont Single Family Homes:

Housing and Market Statistics for Larchmont NY – Second Quarter 2009

Housing and Market Statistics for Larchmont NY – First Quarter 2009

Scarsdale NY Housing Market Statistics – Fourth Quarter 2009

Scarsdale NY Cooperatives:

Scarsdale NY Condominiums:

Scarsdale NY Single Family Homes:

Edegemont Single Family Homes (Scarsdale PO):

Hartsdale NY Housing Market Statistics – Fourth Quarter 2009

Hartsdale NY Cooperatives:

Hartsdale NY Condominiums:

Hartsdale NY Single Family Homes:

Keep Coffee Labs of Tarrytown NY Pet-Friendly…

Westchester Happy New Year!

Scarsdale NY – Housing and Market Statistics for Third Quarter 2009

Cooperatives:

Single Family Homes – Scarsdale:

Single Family Homes Edgemont -

Housing and Market Statistics for Scarsdale NY – Second Quarter 2009

Scarsdale NY – Housing and Market Statistics for First Quarter 2009

Scarsdale NY – Housing and Market Reports for 4th Quarter 2008