Friday July 9

Build a Boat/Construya un Bote
2:30pm
Warner Library, 121 N Broadway, Tarrytown

“Living with Art Collecting Contemporary in Metro New York” 12- 5 PM
Contemporary works of art -from six metro-New York private collections.  Including work from emerging as well as established artists/
$5 for adults, $3 for students/seniors
Neuberger Museum of Art – Purchase College
735 Anderson Hill Rd.
Purchase NY
914-251-6100

Friday Night Jazz 7:30-10:30 PM
Al DiMarco Quintet
Free
Marianacci’s
24 Sherman ST.
Portchester, NY
914-939-3450

Playland’s Fireworks -9:15 PM
$5 -Playland Parkway
914-813-7010

Saturday July 10:

“Living with Art Collecting Contemporary in Metro New York” 12- 5 PM
Contemporary works of art -from six metro-New York private collections.  Including work from emerging as well as established artists/
$5 for adults, $3 for students/seniors
Neuberger Museum of Art – Purchase College
735 Anderson Hill Rd.
Purchase NY
914-251-6100

Peter Pan – 6 PM
Westchester Broadway Theater
$40-$55
1 Broadway Plaza
Elmsford NY
914-592-2222

Midsummer Night Music with the Ridegefield Symphony Orchestra 6-8PM
Features “Broadway with Debbie Gravitte”  Park opens up at 5 PM for picnics. You need lawn chairs or blankets.  Limited refreshments for sale.
$17 adults; $12 seniors; $7 children 5-12; under 5 free
Net proceeds to conservatory fund.
Ladson Park, Arboretum & Veterans Memorial
Route 35
Somers, NY  10589
914-864-7268

Westchester Broadway Theater:  6:45 PM
Gallagher – Adult Comedy followed by dancing to music by Jump Street
1 Broadway Plaza
Elmsford NY
914-592-2222

David Janeway Trio – Jazz 8:30 PM
Watercolor Cafe
2094 Boston Post Rd.
Larchmont NY
914-834-2213

Sunday July 11:

Peter Pan – 12 PM
Westchester Broadway Theater
$40-$55
1 Broadway Plaza
Elmsford NY
914-592-2222

Irish Heritage Celebration: 12-7 PM
Ethnic food, Music & dance with entertainment, arts & crafts – $5
Ridge Road Park – Ridge Rd – Hartsdale NY
914-864-PARK

Italian Heritage Celebration 12-7PM
Ethnic food, Music & dance with entertainment, arts & crafts – Free
Kensico Dam Plaza – Bronx River Parkway – Valhalla NY
914-864-PARK

Wed July 14:

Playland’s Fireworks -9:15 PM – $5
Playland Parkway
914-813-7010

Dancing under the stars – 7 -9 PM
Renaissance Square – featuring Salsa
Renaissance Plaza – White Plains NY

Thursday July 15

Noon Day Concert 12-2 PM
FDR – Funk, Dance Rock
Renaissance Plaza WHite Plains NY

Neighborhood Nights – Childrens Theater  – 7-8 PM
Gardella Park, White Plains NY
Friday July 16

Playland’s Fireworks -9:15 PM
Playland Parkway – $5
914-813-7010

© 2010 – Ruthmarie G. Hicks – http://thewestchesterview.com – All rights reserved.

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.

Hartsdale NY – Housing and Market Statistics for First Quarter 2009.
© 2010 Ruthmarie G. Hicks – http://thewestchesterview.com.  All rights reserved.

Hartsdale Cooperatives:

Coop prices dropped 11.1% over the previous year with the average price being $192k for Q3 2009. That was enough to make them a desirable purchase.  This was particularly true of East Hartsdale Ave.  Demand remained high and volume was up 1% from 2008.   There is a 5.8 month inventory on the market – making it a borderline buyer’s market in terms of inventory.   Prices have dropped nearly 15% from Q3 2007 – which is roughly when sales prices peaked. This is still a buyer’s market, but the reduction in inventory and stable sales volume indicates that we may be near the bottom.

Hartsdale Condominiums:

Condos didn’t fare as well as cooperatives.  Sales prices were down nearly 13% from the previous year.  The average sales price for the third quarter was $370k down from $425k in 2008.  Sales volume was down 33.3% and there is currently an 8 month inventory on the market creating a definite buyer’s market.  This market didn’t really start declining until after the stock market crash – so it may have some more adjustments ahead.

Hartsdale Single-Family Homes:

The price of a single-family home was up about 2.3% – however, I would not consider this to be a true improvement.  The volume was so low, that this probably reflects the nature of the homes that actually sold more than an uptick in prices.  Volume is down 70% from Q3 in 2008.  Further, that low volume translates into over two years of inventory on the market – making this a definite buyer’s market.  The market is down less than 8% from the peak indicating it may have a way to go.  Sellers should price homes realistically, while buyers should enjoy great opportunities in the coming months.

Further Reading:

Hartsdale NY – Market Statistics for 3rd Quarter 2008

Hartsdale NY – Housing and Market Statistics for Fourth Quarter 2008

Hartsdale NY – Housing and Market Statistics for First Quarter 2009

Housing and Market Statistics for Hartsdale NY – Second Quarter 2009

© 2009 Ruthmarie G. Hicks – http://thewestchesterview.com. All rights reserved.

Cooperatives:

The coop market saw a 3.1% price decline from Q2 2008.  Hartsdale currently has an inventory of 11 months.  There are quite a few contracts and pendings at this time.  This reflects the longer escrow periods that the banks are responsible for.   Sales volume is down 12.5% over the previous year.   Much of that decline in slaes volume can be attributed to the slowness of the banks.  The number of contracts and pendings indicates that thinAlthough this is absolutely a buyer’s market, the volume has picked up and the free-fall in prices has stopped.

Condominiums:

The most dramatic price adjustment was in the condo market.  Prices were down almost 35% over the previous year.  Sales volume was down over 14%.  The current inventory suggests an absorption rate of 15.5 months.    Although Hartsdale did not go on a high-rise “building spree” like White Plains and New Rochelle, the excesses of  those markets are filtering their way through the entire lower Westchester  condo market.

Single Family Homes:

Single family homes already took a hit last year prior to the market crash. Now there are signs of stabilization.   Although prices are down close to 6%, sales volume held steady from Q2 of 2008.  The free-fall has stopped.  Homes at lower price points are  selling better than those over $800k.  This reflects the difficulties encountered in obtaining reasonable jumbo loans.    Currently there is a 14 month inventory.  But if you are a buyer shopping for a modestly priced home, that high inventory may give you a false sense of power.  Homes in this price range are moving faster than the median.

Further Reading:

1.  Hartsdale NY – Market Statistics for 3rd Quarter 2008.

2. Hartsdale NY – Housing and Market Statistics for Fourth Quarter 2008.

3.  Hartsdale NY – Housing and Market Statistics for First Quarter 2009.

© 2009 Ruthmarie G. Hicks – http://thewestchesterview.com – All rights reserved.

Markets are by no means even. Areas near the train station seem to do particularly well when compared to outlying areas where a walking to Metro-North is not an option.

Cooperatives:

Prices stabilized this quarter to some extent. But this was on the heels of a significant price drop during 2008 particularly following the stock market crash. Prices will continue to remain weak due to high inventories and low volume. The change in volume of sales from Q1 of the previous year is a striking 65.4%. Only 9 cops sold during the first quarter compared to 26 the previous year.

Condominiums:

Because the volume was so low, it is difficult to draw significant conclusions about condos in Hartsdale specifically because with so few sales any statistics I offer are shaky because low total numbers produce shaky results According to the raw data there was a 30.6% drop in sales price, over the previous year. But this figure is very misleading. Although the condo market is in bear territory in Hartsdale, prices have not dropped anywhere near that much. This figure has more to do with outlying numbers skewing the data. A major price drop did occur, there was also a significant drop in volume and inventories remain high with about 25 months of overhang given the current slow rate of sales. I wish I could be more specific – but there needs to be greater volume to draw conclusions.

Single Family Homes:

Single family homes took a hit as well. The numbers here are likely more accurate because there was enough volume to draw some conclusions. The price trop was significant – about 18.9% down from the Q1 of the previous year. Volume was down a little over 27% from 2008. The inventory remains high with about 18 months of overhang on the market.

Hartsdale is following the pattern that we are seeing in White Plains. The single family home market got hit first and some of those issues are easing a little in that the drop off and decline are slowing a bit. In both White Plains and Hartsdale, the inventories on condos and coops is more severe than with single family homes.

Sellers need to be aware of how difficult this market is and work with their agent to sell their homes effectively. Buyers need to understand that prices have dropped but they have not fallen through the floor. People can certainly sell successfully, I currently have a listing under contract in Hartsdale that found a buyer in fairly short order. I give my seller a great deal of the credit here for being realistic and understanding the market for what it is. When realistically priced and kept in show-ready condition – a well positioned home will sell. Volume may be low, but the buyers who are out are serious and not just booking time and kicking tires.

Further Reading:

Hartsdale NY – Housing and Market Statistics for Fourth Quarter 2008.

White Plains NY – Housing and Market Statistics for First Quarter 2009.

© 2009 Ruthmarie Garcia Hicks. All rights reserved. http://thewestchesterview.com

Hartsdale Towers is a beautiful pre-war complex located on the corner of the highly desirable East Hartsdale Ave. and Columbia Ave. This complex features a unique stucco and brick facade with wonderful old-growth trees and landscaping that create a residential feel in spite of its location on E. Hartsdale Ave. The lobby is Art Nouveau with stunning moldings and details.

The unit itself is a large 2 BR unit with 1080 s.f. It has high cove ceilings and newly refinished hard-wood floors. The kitchen and bath are updated and the kitchen contains new stainless steel appliances. Bright and airy with excellent view of E. Hartsdale Ave. the unit offers tremendous value for the price.

The amenities include a common laundry and extra storage for $30.10/month – although there is a short wait for a storage unit.

The neighborhood surrounding the complex offers the best of all worlds for those who call it home. The neighborhood is highly walkable. You can leave the car behind when it comes to errands in the village or dining. The train is about 0.5 miles from your door. The neighborhood behind the complex the highly desirable residential neighborhood known as Manor Woods which is a lovely area for those who enjoy walking in a residential setting.

Vital Statistics:
Price $230,000
Down Payment 20%
Monthly Maintenance $715/mo.

Assuming a $184,000 30-year fixed mortgage at a rate of 5.5%, the GROSS outlay to own this coop is $1760.00 (rounded to the nearest dollar.)

Assuming a 25% marginal rate and allowing for mortgage interest deductions and tax deductions the net outlay is conservatively slighly over $1400/month. This blows away most 1 BR and all 2 BR rentals in the area. It also makes this 2 BR unit competitive with many 1 BR coops in terms of affordability.

©2009 Ruthmarie Hicks – http://thewestchesterview.com. All rights reserved.

Cooperatives:

Coop sales  accounted for 62% of the market during the fourth quarter. This is a strong example of a general trend.  Entry level housing is moving more than midrange and high-end.  Since most people in this market have nothing to sell, they can take advantage of the lower prices without taking a hit on the selling side.
Prices  were down almost 7% over the 4th quarter of the previous year.

Condominiums:

Unlike other sectors of the Hartsdale market, sales volume was up from 2007 levels.  Prices, however, were down by about 5.2%  At the beginning of January there was a five month supply of units also indicating some weakness in this market.  Condos in White Plains and Hartsdale have been pretty resistant to a pricing correction. But at this time both of these municipalities are showing significant stress in this market.

Single Family Homes:

Gross sales volume was down over 45% from the previous year.  Prices were almost 9% down from the previous year.  It should be noted that I eliminated one unusually high-priced sale that was skewing all of the numbers higher to come to this number.   Averages can be skewed by a very high or very low price.  The 9% drop is a realistic one for this market.  This is particularly true given the 16 months of inventory and the 45.5% drop in sales volume.

Cooperatives:

Coops showed a mild price increase over the same quarter from the previous year. However, the average price of $208,000 was down from the previous quarter. This makes some sense as the housing correction started to hit home in the fourth quarter of 2007. Further, the pent up need to buy is quite intense in our area. The correction from the previous quarter combined with lower interest rates probably pulled some fence sitters to get out into the market. There is roughly 4 months of inventory currently on the market which is also an improvement over the 5.5 month inventory of coops at the end of the 3rd quarter.

Condominiums:

Condos took the biggest hit this quarter – which is natural since they had resisted correction for so long. Volume was down a whopping 73% over 2007 4th quarter values and down nearly 50% from the previous quarter. The drop in price was significant at roughly 17% down from the previous year and 16% from the previous quarter. There is 9.5 months of inventory currently on the market which also indicates a buyer’s market.

Single Family Homes:

Single family home prices stabilized with respect to the previous year. Prices were up 5.2%. But volume was low, down 17% from the fourth quarter of the previous year as well as roughly 30% over the previous quarter. This change in volume partially reflects seasonal changes in sales activity, but it’s still a significant drop. There is currently a little over 10 months of inventory on the market. Prices have stabilized and even risen slightly over 2007 4th quarter levels, but the volume of inventory along with the low volume creates a buyers market for single family homes.

A caveat to all of this information is that sales for the month of January have been very light and we are probably looking at a total sales number of about 25 sales provided most of the pendings close. Although this is a quiet time of year, this low level of volume is another sign of a buyer’s market.

These stats were derived from the Westchester-Putnam MLS and include the municipality of White Plains only (not the White Plains P.O.)

Cooperatives:

The number of sales was down significantly from the previous year (33%.) This was reflected in lower prices with a 4% overall price drop observed. The drop in sales volume is significant and points to further weakness in this particular market. There is a five month supply of inventory, putting cooperatives firmly in buyer’s market territory. The average price for the third quarter of 2008 was $216,000.

Condominiums:

The average sales price of condos actually rose in value roughly 4.2% over the same period last year. The sales volume remains unchanged from the same period last year. The average price for a condo in Hartsdale during the third quarter of 2008 was $425,000 – up 4.2% from the previous year. There is only 3.8 months of inventory – indicating that the condo market remains relatively strong for sellers.

Single Family Homes:

Single family homes have under gone a 5.3% price adjustment over the previous year with 6.7 months of inventory remaining on the market. This is consistent with a buyers market for single family homes even though the relative sales volume remains statistically equivalent the volume in 2007.

Home in Manor Woods of Hartsdale, NY

Hartsdale is a hamlet/post office located in the town of Greenburgh. Greenburgh encompasses a large number of hamlets and villages including several river towns along the Hudson. Hartsdale itself is landlocked and near the southeast corner of Greenburgh. It is a popular location for commuters because the compact hamlet boasts its own train station on the Harlem line just 30 minutes from NYC. Ideally located just ten minutes from the hustle an bustle of downtown White Plains, Hartsdale is a great destination for those who prefer a walkable village along with an easy Manhattan commute, but still want to take advantage of the nightlife and shopping offered in downtown White Plains. Most residential neighborhoods are within walking distance of the train but for those that are not, jitney service is available during peak hours. The Hartsdale post office/zip code (10530) covers a population of about 10,000 with 4300 households which are a mix of cooperatives, condos and single family homes.

Cooperatives:

The first graph shows the average pricing for cooperatives, condos and single family homes over the third quarter of 2008 relative to the pricing during the same period the previous year. Prices for coops are down 1% when compared with the third quarter of the previous year. According to the Westchester-Putnam MLS, the avereage sales price for a coop was $228,000 as opposed to $235,000 the previous year. However, by the third quarter of 2007 a price correction was already in progress and there has been about a 6% drop off in cooperative pricing over the past 18 months. These numbers reflect what might be construed as a leveling off of this market. But looking at sales volume there may be some further downside to this market. There is nearly an 8 month inventory of coops which creates a buyer’s market for coops at this time. For a buyer in this market, it is a great time to buy. There is ample inventory and seller’s need to be realistic given the choices open to buyers.

Condominiums:

Prices show a slight up-tick over the previous year – from $424,000 in 2007 to $439,000 in 2008. However, sales volume is relatively unchanged from the previous year. Inventories are relatively low at 4.7 months which indicates that condo sales represent a fairly balanced market between buyers and sellers. Buyers of condos need to be realistic in their expectations and not ask for the moon. While sellers have to be careful to price their units competitively or they will just sit on the market.

Single Family Homes:

The first graph shows a 3.3% drop in single family home prices over the same period last year from $633,000 to $613,000. Sales volume is level with the previous year – off by 69% and the current housing inventory indicates a near seven month supply of single family homes. The inventory points to a buyer’s market in single family homes.

Buyers should take note that there are some excellent opportunities in Hartsdale if they have a long-term view.