The Broadlawn Complex:

The complex consists of  garden style units surrounded by formal  gardens that including  Pergola and  barbecue area.  Built in 1928, the Broadlawn is know for its Old-World charm and architectural details.  Most of the units at the Broadlawn have  two bedrooms.  Many include such wonderful amenities as fireplaces and  balconies overlooking the formal gardens.  Ground floor units often have private patios.   Many units are duplexes.  The ground floor units tend to be simplexes with patios while the upper floor units are generally duplexes. The Broadlawn was able to forgo raising its maintenance fees last year – which speaks well to its financial stability.  The interior hallways have just been given a facelift and they are also in the process of creating a fitness room on the premises.  All of these are positive steps for the owners and are signs of a thriving community.

The Broadlawn – White Plains – Sales History:

The current sales prices reflect the market correction which has been difficult for all sectors of the housing market.  However, the Broadlawn has held up very well in spite of downward pressure on the coop market.   Median sales prices are down 17% from their highs in 2006  of $348,000 for a 2 BR unit  to a median price of $290,000 in 2011.  1 BR units are less common in the complex and more difficult to evaluate.  Units on the first two levels are generally simplexes while units on the 3rd level are duplexes.  Pricing varies with respect to condition, the presence or absence of a fireplace, balcony or patio.  Some units are “fixers” but the fact that they have been selling fairly well in spite of this market speaks well to the stability of the complex.

The charts below show the pricing history and the sales volume history.  As prices dropped in 2011, sales volume increased sharply.  This is a good sign that the “sweet spot” for pricing has been reached.  Although sellers need to be realistic, the increase in volume indicates that buyers should not be greedy.  Inventory as of the end of 2011 has less than six months of inventory – making this a balanced market.

For the Latest Information On Sales and listings at The Broadlawn:

For the latest on sales stats and current listings  -  feel free to contact  me by phone – (914-374-5529) or email – (Ruthmarie.Hicks@gmail.com) or  you can simply fill out the form below – whichever method you prefer.  Don’t worry  – I do not sell, spam, or otherwise abuse your information!

© 2011 – Ruthmarie G. Hicks – http://thewestchesterview.com – All rights reserved.

For those who don’t know the history – downtown White Plains used to be a fairly quiet place.  During the housing boom the downtown became built up an is now thought of as a mini-me Manhattan.  Following the opening of Trump Tower and  the Ritz Carlton – a new tradition was born.  White Plains initiated a new tradition of celebrating New Years Eve in the heart of the downtown – including its own ball drop.  The festivities include live music from 10:30 PM to 12:30 AM.  It is a fun-filled event for the entire family.  Last year I was downtown at around 11 PM and was watching as all the downtown residents started walking en masse towards the music.  Parents with children in tow,  and extended families all getting together as a large community.  Its a terrific way to meet your neighbors and just have a great time with the whole family.   At the stroke of midnight the ball drops and it is topped off by a fireworks display that literally lights of the entire sky.

For those who want to make an entire evening of it and eat out – here are some suggestions….

BLT Steakhouse White Plains - in the heart of the downtown in the Ritz Carlton – $125 pp.  First seating 5:30 – 7 PM, Second seating after 9 PM.

Morton’s Steak House – Downtown White Plains – Maple Ave.

Black Bear Saloon & Wicked Wolff Tavern – Downtown White Plains – Mamaroneck Ave.    are hosting a New Years Eve Bash. The doors open at 9 PM. Tickets are $50 pp and include an open bar.

© 2011 – Ruthmarie G. Hicks – http://thewestchesterview.com – All rights reserved.

For more information – you can call 995-4050

• The Event: The Nutcracker Ballet:
• The Place:  Westchester County Center in White Plains NY (118 Central Ave., White Plains NY 10606)
• The Day:  Saturday Dec. 17, and Sunday Dec. 18.
• The Time: Saturday the 17th – 12:30 and 4:30.   Sunday the 18th – 2 PM.
• The Cost: Adults – $20,  Children under 10 and seniors over 65 -  $14, All tickets bought on the day of performance $25.

© 2011 Ruthmarie G. Hicks – http://thewestchesterview.com – All rights reserved.

As White Plains NY condos go, Jefferson Place offers a great deal in the way of amenities for the money. The Residences of Jefferson Place is a condominium complex with a split personality. The complex spans on square block between Livingston Ave. and Rutherford Ave. in White Plains, NY with units on 300 Mamaroneck Ave. and 31 Greenridge Ave. Jefferson Place is located a scant half -mile from heart of the downtown including the  White Plains City Center.  The city side – facing Mamaroneck Ave. is an eight-story urban mid-rise with a sophisticated brick façade.  The suburban side of the complex on Greenridge Ave. gives a bow to the Highlands community where it resides.

The following is an update of the sales stats at Jefferson Place.  Prices have come down nicely over the past few years and for those interested in buying, I would strongly suggest that you get moving.  The gift of  super-low interest rates can not last forever and combined with the prices that we now see, this is a gift.  If you qualify to buy – I have to ask what an EARTH are you waiting for???? Housing is highly cyclic.  Those who miss out on this crazy low market will be kicking themselves for years to come.  This is  literally a once in a lifetime opportunity in the housing market.

Jefferson Place – White Plains – Sales History – 2006 – Nov 2011*

The chart below follow median  sales prices of 1 BR and 2 BR units at the 300 Mamaroneck Ave., the  midrise portion of Jefferson place from 2006-Nov 2011.  From the charts below you can see that 1 BR units underwent two corrections.  Once at the beginning of 2009 following the market meltdown.  They then climbed up a notch once again only to fall substantially to a median price of $317,000 down about 18% from their peak in 2008.  2 BR units corrected more sharply in 2009 and have remained flat since 2009 going up slightly, but not significantly to a median price of $445,000 in 2011.  Actual pricing depends on many variables including square footage, view and location in the building.  Upper floors traditionally selling for more. * All data was derived from the Westchester Putnam MLS.

The active listings indicate that there is about 1 year of inventory on the MLS so these units though bottoming are still in bear market territory for both 1 & 2 BR units.  Sellers need to be realistic, but buyers shouldn’t overplay their hand either.  2 BR units appear to be bouncing along the bottom  and so much air has come out of the 1 BR units price points that it is doubtful that there is much more room for decline. Sales of 1 BR units have been steady in spite of the price drop.

Further Reading:

Jefferson Place – White Plains NY

For the Latest Information On Sales and listings at Jefferson Place:

For the latest on sales stats and current listings  -  feel free to contact  me by phone – (914-374-5529) or email – (Ruthmarie.Hicks@gmail.com) or  you can simply fill out the form below – whichever method you prefer.  Don’t worry  – I do not sell, spam, or otherwise abuse your information!

© 2011 – Ruthmarie G. Hicks – http://thewestchesterview.com – All rights reserved.

Our love affair with big-box stores and rock bottom prices has  come at a price.  Service?  What’s that?  Knowledge of the product? You’ve got to be kidding me?   In addition there have been bankrupt businesses, lost jobs that paid decent wages and less money coming into the community.  Consider this:  when you spend $100 with a local merchant, $68 returns to the community. When you buy at a national chain – only $43 is returned to the community.  Thats a 37% difference in direct  economic stimulation.

White Plains NY has quite a few big-box stores, but there are also many  local merchants  that  are open for business on Saturday and have a great deal to offer beyond the same-old, same-old.  Here are a few of my picks for the weekend.

Magnotta’s Car Wash:

Magnotta’s is  on Central Ave. in downtown White Plains.  Why would I pick a car wash?  Because as a real estate agent that has two dogs constantly in my car – I know they do a good job!  They are also holding their annual holiday blowout sale which includes savings on full service washes and complete detailing services.  I bought my package yesterday and will enjoy the savings.

Westchester Road Runner:

The Westchester Road Runner has been around for many years.  It is located on 179 East Post Road just off of Mamaroneck Ave.   I have been shopping there for a long time and you don’t have to be a runner to enjoy their shoes.  They have just about the largest selection of running shoes around – anywhere.   They are recommended by podiatrists everywhere  who have issues with their feet.  I need to wear rather bulky orthotics due to a severe case of flat feet and my doctor told me in no uncertain terms that this was the place to go!  Right now they offer a woman’s running clinic on Monday night. They have  a great selection of outer wear that we all can use outdoor activity.

American Terrain Outdoors:

Located right next door to the Westchester Road Runner – these two stores complement each other.  American Terrain  tends have a wonderful selection of outer-wear geared to general outdoor activity. Think warm hats, gloves, jackets.  Some of which would make great stocking stuffers.  Last year I bought some Yak Trax from them and they saved my life (or at least my knees) during the messy, icy, winter we had last year while I shoveled snow and walked the dogs on icy terrain.   If you ask, American Terrain Outdoors is offering $10 off a $50 purchase and $25 off a $100 purchase on Small Business Saturday as well as through Christmas Eve.

Straight A’s:

Got a young scholar on your short list for presents this year?   Want to get the kids a gift that educates as well as entertains.   This is a new store  at 180 East Post Road  and it has unique and educational offerings  for kids of all ages.   The former scientist in me spied the science kits in chemistry, physics and DNA. They also had some great simple stocking stuffers in the form of colorful pencils, erasers and other small items for the school backpack.  There was  a lot to take in here.  From tots to teens there is plenty of unique inventory that is  a far cry from the vanilla big-box toy store fare.

So there you have it – Four local merchants ready to do business with you on Small Business Saturday!  Happy Shopping everyone!

© 2011 – Ruthmarie G. Hicks – http://thewestchesterview.com – All rights reserved.

Condo and townhouse prices remained stubbornly high – until now….

One of the biggest impediments to downsizing has been the cost.  Single family homes corrected first.  So home sellers who had shrinking home values were making either a lateral move or a move UP to one of those great condos or townhouses they had their eye on.  For several years, these properties stubbornly held tight to their high price points while single family homes tumbled.   This left would be sellers  “stuck.”  Sluggish sales showed us that this state of affairs couldn’t last.  Prices needed to come down – and over the past 18 months – that is just what has happened.   The new affordability will help those with depreciated home values better afford these options. Those fortunate enough to live in areas such as Scarsdale and Larchmont where home values are increasing – have a unique opportunity to sell high (though not as high as 2006) and buy low. Opportunities like that are rare in the housing industry.  So those who have been waitin’ and wishin’ and hopin’ for a better opportunity – now’s the time to think seriously about downsizing.

Here are some great luxury options in White Plains for downsizing:

The Ritz Carlton White Plains NY…*

Prices at the Ritz Carlton peaked in 2008 but went down sharply after that.   Now the prices are actually edging back up with a median price so far this year of $942,000 – down about 38% from the peak according to the Westchester-Putnam MLS.  Of course you get high end luxury and services galore right in the middle of downtown White Plains.  For more information click here for a  web page on the Ritz Carlton.  For those who want convenience and luxury – this is a great choice.

Trump Tower White Plains NY….*

Trump Tower is another luxury high-rise in the heart of the downtown.  Located right next to the City Center – it is at the heart of everything. Just leave the car and walk.  Prices have come way down off their heights with a median price of $645,000 so far this year – well off their $800,000 highs of the previous year.  For more information about Trump Tower click here for a web page about Trump White Plains.

Suburban Townhouses in Southern White Plains…*

For those who still want the feel of a house or who may have some boomerang kids coming back to the nest after college, a townhouse offers the convenience of condo life but the layout of a home.  Just imagine – having a house with no snow to clear, now flower beds to weed and no gutters to clean!  Prices on townhouses have been adjusting over the past year and are down close to 19% from their peak with a current median price of $780,000.

*Note about the charts:  The red bars represent the period before the market correction.  Note that the correction came at different times for townhouses  – which is a natural part of the process.  The green bars represent the years since the correction and the orange bar represents the current year.   All  data was compiled from the WPMLS – Please note that the townhouses include single family home and condo listings.

© 2011 – Ruthmarie G. Hicks – http://thewestchesterview.com – All rights reserved.

Sales Price History at Trump  Tower White Plains NY

The chart below depicts the sales price history at Trump White Plains.   The red bars represent the years before the crash through 2008.    The green bars depict the years following the crash and the bar in purple represents the present year which has over one quarter left to it.  As you can see, sales prices peaked in 2006, right after the complex opened. Prices remained high, but not as high through 2009.  Then the sharp drop in median price from $775,000 to $670,000 happened in 2010. Since that time prices have made some additional drop of about 3.7% but sales volume indicates that prices are stabilizing.

Sales Volume at Trump Tower White Plains NY

The sales volume tells the story.  Trump is definitely selling well this year which is a strong indication that prices have hit that sweet spot where they contracts are being made and are holding together.  After plummeting in 2009 – sales were back with in 2010 – and are standing strong in 2011.  Although sellers have to be realistic – so do buyers.  I’m seeing a lot of low-ball offers that lose in the end.  If everyone is realistic – there’s plenty of great buying opportunities.

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

Recently, I’ve had quite a few buyers interested in the Ritz Carlton – but many are confused about the pricing thinking that the inventory overhang is a recipe for a falling knife in terms of prices.  These are uncertain times and I understand some of the concern, but you have to look at more than the number of units that have yet to be sold.  This is particularly true of new construction.  You have to look at demand – whether it is increasing or decreasing as well as trends in actual sales prices.

Sales Price History at the Ritz Carlton White Plains:

The chart below depicts the sales price history.  The red bars are the two years – from the opening of the Ritz – to the crash of 2008.  The green bars depict the years following the crash and the bar in purple represents the present year which has over one quarter left to it.

The pricing shows something far more robust than perhaps many potential buyers were hoping for.  Prices dropped sharply as the knife fell in 2008.  But 2010 show prices inching up and that trend has continued in 2011.

Sales Volume at the Ritz Carlton White Plains:

But the proof is really in the sales volume.  Sales volume had already collapsed in 2008 and actually increased slightly in 2009. But there was a surge in sales in 2010 which has continued into 2011.   Sales this year are only one unit shy of the  entire 12 months of 2010.  There are also several pending sales with another quarter to go.

Listen up buyers… There are two issues here:  They involve price and cost.  And quite frankly – in both cases,  you have won the real estate lottery! Plain and simple – it doesn’t get much sweeter than this.  The price increases are not stalling sales volume – so you might be wise to get while the getting is good.  Prices are still off their highs.  The second issue is interest rates.   Affordability is where it was when Eisenhower was president.  If you are under 40, I promise you that you do not understand what an amazing gift these interest rates are.  You will – when they are gone – and once they are gone it is unlikely that you will ever see anything like this again in your lifetime.

As for inventory overhang – a large overhang is expected in new construction.   Now that the units are selling again – it is not an issue, nor does it appear to be dragging prices down.  You can not put new construction in the same category as resales – where a large volume of homes does impact the market.   The market for high-rise units in Westchester was pretty scary for a while, but these stats point to a pretty robust situation.

For more detail feel free to visit my web page:  The Ritz Carlton.

So this very short video  is a slide show of  downtown White Plains in the late summer and fall.  The downtown is vibrant and active with Trump Tower and the Ritz Carlton dominating the scene as high-rise buildings.   White Plains is often thought of as the mini-me Manhattan and with good reason.  Many Manhattan restaurants and shops have opened their doors in White Plains  was successful transplants.

The White Plains Beautification Foundation was founded 46 years ago in 1965.  Brian Wallach – was one of the founding members – and one of the leaders in making White Plains a “green” place to live. Mr.  Wallach  still resides in the city  and can be  seen to this day walking with his seeing-eye dog to work in the downtown area.   Brian Wallach  always had “vision” even though he couldn’t actually “see”.  Back in a time when White Plains was not such a big place – a few visionaries like Brian and his wife Beth understood that green space would have to be protected, preserved and even developed and augmented in order for the city to avoid becoming a concrete jungle.  Thanks the the White Plains Beautification Foundation – residents and visitors take for granted that their path through the downtown will be graced by many colorful plantings, gardens, fountains.  Even the Schulmerich Carrilon that people downtown can hear daily is the result of their good offices.

Of course I was reminded of all this on Saturday and  Sunday afternoon while showing condos at The Ritz Carlton  and cooperatives at the Broadlawn.  Those two days I happened to do a great deal of walking through the downtown area getting to and from appointments with clients looking in several walkable areas at different price points.   Total truth:  I was running like crazy chasing keys, appointments and my tail while trying to remain composed!  At the tail end of the final set of showings I found myself in Tibbets Park which lies along the median of North Broadway.   I was walking past the gardens and the fountains.  I was hot and tired, but then I looked around and in the late afternoon sun I realized it was time to steal a few minutes to relax and enjoy.  It took the three photos on this page with my iPhone.  It dawned on me though – that without the White Plains Beautification Foundation – the scene in these photos would be much different.

To learn more – contribute or volunteer Click on this link for the White Plains Beautification Foundation.

© 2011 – Ruthmarie G. Hicks – http://thewetchesterview.com – All rights reserved