Westchester is one of the most expensive communities in the United States. So it comes as no small surprise that many home buyers are blown off their feet by sticker shock.What does surprise me is how many of these buyers still think that we are in a strong buyers market. Unfortunately, that is soooooo 2011 and we are now in a what should be considered a seller's market. However, that does not necessarily mean that this is a bad time to buy.
Downsizing can be challenging. But one thing many didn't expect was "sticker shock". Downsizer's are finding is that the slick townhouse or condo they have their eye on can cost almost as much as what they can sell their far larger single-family home for.
Westchester has many fall traditions. It is famous for them. Like the historic Hudson Valley Jack O’Lantern blaze, and Horseman’s Hollow, Westchester Magazine has created its own unique fall tradition: the Westchester Magazine’s Dream Home. This year we have the “Penthouse Edition” at none other than the ultimate luxury complex – the Ritz Carlton in downtown White Plains NY.
Overall, the news looked more like (home prices were pretty much) status-quo with a 0.8% increase in sales volume overall over Q4 2012. However, one truth that never changes is that real estate is a LOCAL business....The west coast is just taking a breather after a major run-up in volume and prices...The northeast now appears to be on a tear, but let's not forget that it has been in the doldrums for years.